Back to HomepageThe Federal Reserve Bank of New York, New York University,
and the Journal of Financial Intermediation,
jointly sponsor a conference on
CORPORATE GOVERNANCE IN THE
BANKING AND FINANCIAL SERVICES INDUSTRIES
Stern School of Business, New York University, New York, NY
November 7-9, 2001
Wednesday, November 7
6:00 PM Welcome Reception
7:00 PM Dinner, The Chartroom at the Soho Grand Hotel, 310 W. Broadway at Grand St.
Thursday, November 8
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8:00 AM |
Continental Breakfast |
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8:45 AM |
Welcoming Remarks: William J. McDonough, President Federal Reserve Bank of New York |
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SESSION I: GOVERNANCE PROBLEMS OF BANKS AND FIRM PERFORMANCE
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| Chair: Kose John, New York University | |
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9:00 AM |
Jonathan R. Macey (Cornell University) |
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Maureen O'Hara (Cornell University) |
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"Solving the Corporate Governance Problems of Banks: A Proposal" |
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Discussant: Ronald Gilson, Columbia University
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10:15 AM |
Break |
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10:45 AM |
Renee Adams (Federal Reserve Bank of New York) |
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Hamid Mehran (Federal Reserve Bank of New York) |
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"Corporate Governance and Bank Holding Company Performance" |
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Discussant: Marc Zenner, University of North Carolina and Salomon Smith Barney
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Noon |
Lunch and Distinguished Speaker: Peter Clapman, TIAA-CREF |
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SESSION II: CAPITAL STRUCTURE AND LENDING DURING DISTRESS
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Chair: Anjan V. Thakor, University of Michigan |
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| 2:00 PM |
Allen Berger (Board of Governors of the Federal Reserve System) |
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Emilia Bonaccorsi di Patti (Bank of Italy) |
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"Capital Structure and Firm Performance: A New Approach to Testing Agency Theory and Application to the Banking Industry" |
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Discussant: George Pennacchi, University of Illinois |
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3:15 PM |
Break |
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3:30 PM |
Randall Kroszner (University of Chicago) |
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Philip Strahan (Boston College) |
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"Throwing Good Money after Bad: The Role of Board Linkages and Bank Lending during Distress" |
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Discussant: Francisco Perez-Gonzales, Columbia University
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Friday, November 9
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8:00 AM |
Continental Breakfast |
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SESSION III: MANAGERIAL INCENTIVES AND CORPORATE DECISIONS
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Chair: Jennifer Carpenter, New York University |
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8:30 AM |
Beverly Hirtle (Federal Reserve Bank of New York) |
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"How Do Stock Repurchases Affect Bank Holding Company Performance?" |
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Discussant: Robert McDonald, Northwestern University
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9:30 AM |
Break |
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9:45 AM |
Christopher Anderson (University of Kansas) |
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David Becher (Northern Illinois University) |
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Terry Campbell II (University of Delaware) |
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"Bank Mergers, the Market for Bank CEOs, and Managerial Incentives" |
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Discussant: David Yermack, New York University
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10:45 AM |
Break |
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11:00 AM |
Elena Carletti (University of Mannheim) |
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"The Structure of Bank Relationships, Endogenous Monitoring and Loan Rates" |
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Discussant: Robert Marquez, University of Maryland
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Noon |
Lunch and Distinguished Speaker: Bengt Holmstrom, MIT |
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SESSION IV: MANAGEMENT TURNOVER AND BOARD STRUCTURE DURING DISTRESS
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Chair: Anil Shivdasani, University of North Carolina and Salomon Smith Barney |
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2:00 PM |
Rachel Hayes (University of Chicago) |
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Paul Oyer (Stanford University) |
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Scott Schaefer (Northwestern University) |
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"Stability of Top Management Teams: Evidence from Banks and Thrifts" |
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Discussant: Charles Himmelberg, Federal Reserve Bank of New York
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3:00 PM |
John Byrd (Fort Lewis College) |
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Donald Fraser (Texas A&M University) |
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Scott Lee (Texas A&M University) |
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Thomas Williams (William & Patterson University) |
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"Deregulation, Natural Selection, and Governance Structure: Evidence from the Savings and Loan Crisis"
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Discussant: Ronald Masulis, Vanderbilt University |
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4:00 PM |
Adjourn |
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