All classes take place at Formica Classroom at Fuqua. Here is a map of Fuqua. Day Parking is available at the Science Drive Garage by the corner of Science Dr. and Cameron Blvd.

Day 1: May 23

07:30 – 08:30 Breakfast and Registration

08:30 – 10:00 From Edgeworth to Market Failure and “Back”
Thomas Hemmer

10:00 – 10:30 Break

10:30 – 12:00 Cheap Talk and Biased Disclosures
Thomas Hemmer

12:00 -13:00 Lunch

13:00 – 14:30 The Revelation Principle, Optimal Contract and Earnings Management, part I
Thomas Hemmer

14:30 – 15:00 Break

15:00 – 16:30 The Revelation Principle, Optimal Contract and Earnings Management, part II
Thomas Hemmer

16:45 – 17:45 Paper presentations:

Kyle Jung (Stanford) Learning or Catering? Effect of Managerial Myopia on Disclosure and Investment Feedback;

Xixi Xiao (Rochester) News from afar: The information role of nonlocal investors in guiding investment decisions

Irina Luneva (Wharton) What does the market know?

18:00 – 19:00 Dinner

Day 2: May 24

07:30 – 08:30: Breakfast

08:30 – 10:00 Real Effects of Conservatism on the Information Content of Accounting Reports
Chandra Kanodia

10:00- 10:30 Break

10:30 – 12:00 How Selective Disclosures are Rationally Interpreted and Priced in Capital Market
Chandra Kanodia

12:00 – 13:00 Lunch

13:00 – 14:30 A Balance Sheet View of Accruals
Qi Chen

14:30 – 15:00 Break

15:00 – 16:30 Coordination Role of Public Information and Accounting Standards
Qi Chen

16:45 – 18:00 Paper Presentations

Rishabh Aggarwal (Stanford) Dynamics of Voluntary Disclosure and Investment Efficiency

Yahui (Katie) Zheng (Rochester) Voluntary Disclosure and Retail Trading Increase

Meiling Zhao (Arizona) Timely Signals of Systematic Audit Quality from Market Participants: Evidence from Activist Short-Seller Campaigns

Shuyan Wang (Duke) The Effects of Fundamental Transparency on Commodity Futures Market Liquidity

18:00 – 19:00 Dinner

Day 3: May 25

07:30 – 08:30: Breakfast

08:30 – 10:00 Information in Financial Markets and Its Real Effects I
Itay Goldstein

10:00- 10:30 Break

10:30 – 12:00 Information in Financial Markets and Its Real Effects II
Itay Goldstein

12:00 – 13:00 Lunch

13:00 – 14:30 Real Effects of Accounting Measurement, Part I
Chandra Kanodia

14:30 – 15:00 Break

15:00 – 16:30 Real Effects of Accounting Measurement, Part II
Chandra Kanodia

16:30 – 18:30 Happy hour and dinner