2011 Agenda

Second Entrepreneurial Finance and Innovation Conference

Conference Program
The Inn at Harvard, Harvard Square, Cambridge
1201 Massachusetts Avenue, Cambridge, MA 02138 Phone: 617-491-2222

June 26th

6:00 pm   Cocktail Reception

June 27th—Day 1

7:30 am   Breakfast
Session 1   Chair: Thomas Chemmanur, Boston College
9:00 – 9:50 am The Color of Money: A Start-up's Choice among Venture Capitalists by Krishnamurthy Subramanian, Indian School of Business
Discussant: Heather Tookes, Yale University
9:50 – 10:40 am Contracts and Returns in Private Equity Investments by Stefano Caselli, Bocconi University , Emilia Garcia-Appendini, Bocconi University , and Fillipo Ippolito, Bocconi University.
Discussant: Paul Gompers, Harvard University
10:40 – 11:00 am   Coffee Break
Session 2   Chair: Chair: Vikram Nanda, Georgia Tech
11:00 – 11:50 am Who controls the IPO underwriting market? Top VCs and all-star analyst coverage by Daniel Bradley, University of South Florida, Incheol Kim, University of South Florida, and Laurie Krigman, Babson College.
Discussant: Manju Puri, Duke University
11:50 am – 12:40 pm The Relative Importance of IPO and M&A Exits for Venture Capital Fund Financial Performance by Richard Smith, University of California, Riverside, Roberto Pedace, Scripps Collge, and Vijay Sathe, Claremont University.
Discussant:  Karthik Krishnan, Northeastern University
12:40 – 2:00 pm  
Lunch
Session 3   Chair: Manju Puri, Duke University
2:00 – 2:50 pm Financing Risk and Bubbles of Innovation by Matthew Rhodes-Kropf, Harvard University and Ramana Nanda, Harvard University.
Discussant: Robert Marquez, Boston University
2:50 – 3:40 pm Creative Destruction and Finance: Evidence from the Last Half Century by Claire Liang, University of Alberta, David McLean, University of Alberta, and Mengxin Zhao, University of Alberta.
Discussant: David Robinson, Duke University
3:40 – 3:50 pm   Coffee Break
Session 4   Chair: Alicia Robb, University of California, Santa Cruz and Kauffman Foundation
3:50 – 4:40 pm Do Local and International Venture Capitalists Play Well Together? A Study of International Venture Capital Investments by Thomas Chemmanur, Boston College, Tyler Hull, Brandeis University , and Karthik Krishnan, Northeastern University.
Discussant: Simi Kedia, Rutgers University
4:40 – 5:30 pm Business Partnerships and the Commercialization of Inventions by Thomas Astebro, HEC Paris and Carlos Serrano, University of Toronto.
Discussant: Evgeny Lyandres, Boston University
5:45 pm  
Keynote Speech

"Where Have All the IPOs Gone?" by Professor Jay R. Ritter
6:30 pm  
Conference Dinner

June 28th—Day 2

7:00 am   Breakfast
Session 5   Chair: Paolo Fulghieri, University of North Carolina
8:30 – 9:20 am Inter-Firm Economic Ties: Evidence from Venture Capital by Yael Hochberg, Northwestern University, Laura Lindsey, University of Arizona, and Mark Westerfield, University of Southern California.
Discussant: Olav Sorenson, Yale University
9:20 – 10:10 am Who Seeks and Who Receives? Demand For and Access to Credit by Young Firms by Alicia Robb, University of California, Santa Cruz and Kauffman Foundation and Sheryl Winston-Smith, Temple University.
Discussant: William Kerr, Harvard University.
10:10 – 10:30 am   Coffee Break
Session 6   Chair: Simi Kedia, Rutgers University
10:30 – 11:20 am Motivating Innovation in Newly Public Firms by Nina Baranchuk, University of Texas, Dallas , Robert Kieschnick, University of Texas, Dallas, and Rabih Moussawi, University of Pennsylvania.
Discussant: Vikram Nanda, Georgia Tech.
11:20 am – 12:10 pm Acquiring Innovation by Merih Sevelir, Indiana University and Xuan Tian, Indiana University.
Discussant: Gustavo Manso, MIT
12:10 – 1:30 pm  
Lunch
Session 7   Chair: Debarshi Nandy, York University
1:30 – 2:20 pm Manager compensation, ownership, and the cash flow performance of private equity funds by Berk Sensoy, Ohio State University and David Robinson, Duke University.
Discussant: Daniel Bergstresser, Harvard University.
2:20 – 3:10 pm How does personal bankruptcy law affect start-ups? by Geraldo Cerqueiro, Universidade Catolica Portuguesa, M. Fabiana Penas, Tilburg University.
Discussant: Edith Hotchkiss: Boston College
3:10   Adjourn

The Entreprenurial Finance and Innovation Conference is supported by
The Ewing Marion Kauffman Foundation and the Society for Financial Studies

Conference Organizers
Thomas Chemmanur, Paolo Fulghieri, and Debarshi Nandy