1:00-1:15 Opening Remarks
S.P. Kothari (SEC)
1:15-2:45 Corporate Finance Track
Session Chair: Geoffrey Tate (University of Maryland)
Spinning the CEO Pay Ratio Disclosure
Audra Boone (Texas Christian University), Austin Starkweather (Vanderbilt University, and Joshua Tyler White (Vanderbilt University)
Discussant: Elena Simintzi (University of North Carolina)
Phantom of the Opera: ETF Shorting and Shareholder Voting
Richard Evans (University of Virginia), Oğuzhan Karakaş (University of Cambridge), Rabih Moussawi (Villanova University), and Michael Young (University of Missouri)
Discussant: Todd Gormley (Washington University)
2:45-3:00 Break
3:00-4:00 SEC Panel
Division directors discuss hot topics in their areas
Moderator: S.P. Kothari (SEC, Division of Economic and Risk Analysis)
Panelists: Dalia Blass (SEC, Division of Investment Management)
William Hinman (SEC, Division of Corporation Finance)
Brett Redfearn (SEC, Division of Trading and Markets)
4:00-4:15 Break
4:15-5:45 Financial Intermediary Track
Session Chair: Xuemin (Sterling) Yan (Lehigh University)
Funding Liquidity and Market Liquidity: the Broker-Dealer Perspective
Marco Macchiavelli (Federal Reserve Board) and Xing (Alex) Zhou (Federal Reserve Board) Discussant: Ashish Tiwari (University of Iowa)
Periodic Disclosures of Asset-Backed Securities
Brent Schmidt (Penn State University) and Helen Zhang (University of Minnesota) Discussant: Jack Bao (University of Delaware)
Friday September 18, 2020
10:00-10:15 Opening Remarks
Commissioner Hester Peirce (SEC)
10:15-11:45 Asset Management Track
Session Chair: Edie Hotchkiss (Boston College)
Sitting Bucks: Zero Returns in Fixed Income Funds
Jaewon Choi (University of Illinois Urbana-Champain), Mathias Kronlund (University of Illinois Urbana-Champain), and Jimmy Oh (Hanyang University)
Discussant: Eric Zitzewitz (Dartmouth College)
Discretionary NAVs
Scott Cederburg (University of Arizona) and Neal Stoughton (University of Waterloo) Discussant: Gregory Kadlec (Virginia Polytechnic Institute)
11:45-12:00 Break
12:00-12:30 Fireside Chat
Commissioner Elad Roisman (SEC)
12:30-1:15 Break
1:15-2:45 Market Microstructure Track
Session Chair: Joel Hasbrouck (New York University)
Should We Use Closing Prices? Institutional Price Pressure at the Close
Vincent Bogousslavsky (Boston College) and Dmitriy Muravyev (Michigan State University) Discussant: Edwin Hu (New York University)
Violations of Price-Time Priority and Implications for Market Quality
Seoyoung Kim (Santa Clara University) and Daniel Trepanier (Santa Clara University) Discussant: Robert Bartlett (University of California)
2:45-3:00 Closing Remarks
Jim Allen (CFA Institute)
