Corporate Governance Best Paper Competition
The competition is organised by the ECGI, the Review of Finance and the Swedish Centre for Business and Policy Studies (SNS), and is sponsored by the European Corporate Governance Training Network, the Saïd Business School (SBS) and the Jan Wallander and Tom Hedelius Research Foundation.
Introduction | Organisers & Sponsors | Competition Jury | Oxford Conference | Stockholm Final
Stage 2 of the Competition was a two-day conference at the Saïd Business School (SBS)on 10-11 June 2008. In Stage 3, up to four papers are invited for presentation to the final round in Stockholm on 9-10 December 2008
SessionSessionSessionSessionSessionSessionSessionSessionSessionSessionSession
Tuesday 10 June 2008 (click on paper's title to download it and presenter's name for biography)
09.00 Registration and coffee  
Ownership and Corporate Finance
Chaired by Professor Josef Zechner, Chair of Banking and Finance, Department of Business Administration, University of Vienna
09.15 - 10.05 The Principle of Proportional Ownership, Investor Protection and Firm Value in Western Europe (Revised May 2008)
by Morten Bennedsen, Copenhagen Business School, CEBR and ECGI and Kasper Meisner Nielsen, Chinese University of Hong Kong and CEBR
Presented by: Morten Bennedsen, Professor in Applied Economic Theory, Department of Economics, Copenhagen Business School 		Morten Bennedsen, Professor in Applied Economic Theory, Department of Economics, Copenhagen Business School
10.05 - 10.35 Coffee break
10.35 - 11.25 The Success and Relevance of Shareholder Activism through Proxy Proposals
by Luc Renneboog, Tilburg University and ECGI and Peter Szilagyi, Judge Business School, University of Cambridge
Presented by: Luc Renneboog, Professor of Corporate Finance, Tilburg University		 Luc Renneboog, Professor of Corporate Finance, Tilburg University
11.25 - 12.15 Corporate Governance and Financing Policy: New Evidence (Revised 31.05.08)
by Kose John, Stern School of Business, NYU and Lubomir Litov, Olin Business School, Washington University in St. Louis
Presented by: Lubomir Litov, Assistant Professor of Finance , John M. Olin School of Business, Washington University in St. Louis 		Lubomir Litov, Assistant Professor of Finance , John M. Olin School of Business, Washington University in St. Louis
12.15 - 13.45 Lunch
Boards and CEO Incentives
Chaired by Professor Marco Becht, Professor of Finance and Economics, Université Libre de Bruxelles (ULB)
13.45 - 14.35 Bankers on the Boards of German Firms: What they do, what they are worth, and why they are (still) there
by Ingolf Dittmann, Erasmus University Rotterdam, Ernst Maug, University of Mannheim and ECGI, and Christoph Schneider, University of Mannheim
Presented by: Ernst Maug, Professor for Corporate Finance, Mannheim Business School, University of Mannheim		 Ernst Maug, Professor for Corporate Finance, Mannheim Business School, University of Mannheim
14.35 - 15.25 Private Equity and Corporate Governance: Do LBOs Have More Effective Boards?
by Francesca Cornelli, London Business School and CEPR and Oguzhan Karakas, London Business School
Presented by: Oğuzhan Karakaş, PhD Student, London Business School		 Oğuzhan Karakaş, PhD Student, London Business School
15.25 - 15.55 Coffee break
15.55 - 16.45 Stock-Based Compensation and CEO (Dis)Incentives
by Effi Benmelech, Harvard University and NBER, Eugene Kandel, Hebrew University, ECGI and CEPR, and Pietro Veronesi, University of Chicago, CEPR and NBER
Presented by: Pietro Veronesi, Professor of Finance, University of Chicago Graduate School of Business		 Pietro Veronesi, Professor of Finance, University of Chicago Graduate School of Business
Wednesday 11 June 2008
Law and Corporate Governance
Chaired by: Professor Franklin Allen, Nippon Life Professor of Finance and Economics, The Wharton School, University of Pennsylvania
09.00 - 09.50 How Does Law Affect Finance? An Examination of Financial Tunneling in an Emerging Market
by Vladimir Atanasov, College of William and Mary, Bernard Black, University of Texas at Austin and ECGI, Conrad Ciccotello, Georgia State University and Stanley Gyoshev, Exeter University
Presented by: Vladimir Atanasov, Assistant Professor , Mason School of Business, College of William and Mary		 Vladimir Atanasov, Assistant Professor , Mason School of Business, College of William and Mary
09.50 - 10.20 Coffee break
10.20 - 11.10 Private Enforcement of Corporate and Securities Law: An Empirical Comparison of the US and UK
by John Armour, Oxford University Faculty of Law and ECGI, Bernard Black, School of Law and McCombs School of Business, University of Texas at Austin and ECGI, Brian Cheffins, Cambridge University Faculty of Law and ECGI and Richard Nolan, Cambridge University Faculty of Law
Presented by: John Armour, Lovells Professor Law and Finance, Faculty of Law, University of Oxford		 John Armour, Lovells Professor Law and Finance, Faculty of Law, University of Oxford
11.10 - 12.00 Corporate Governance Externalities (revised May 2008)
by Viral Acharya, London Business School and CEPR and Paolo Volpin, London Business School and CEPR
Presented by: Paolo Volpin, Assistant Professor of Finance, Institute of Finance and Accounting, London Business School 		Paolo Volpin, Assistant Professor of Finance, Institute of Finance and Accounting, London Business School
12.00 - 13.40 Lunch
Private Benefits and Value Creation
Chaired by: Professor Colin Mayer, Peter Moores Dean and Professor of Management Studies, Said Business School, University of Oxford
13.40 - 14.30 Determinants of the Block Premium and of Private Benefits of Control
by Rui Albuquerque, Boston University School of Management and CEPR, and Enrique Schroth, University of Lausanne and Swiss Finance Institute
Presented by: Enrique Schroth, Assistant Professor, HEC Lausanne and Swiss Finance Institute		 Enrique Schroth, Assistant Professor, HEC Lausanne and Swiss Finance Institute
14.30 - 15.20 Corporate Governance and Value Creation: Evidence from Private Equity (Revised 31.05.08)
by Viral Acharya, London Business School and CEPR and Conor Kehoe, McKinsey & Co.
Presented by: Viral Acharya, Professor of Finance and Academic Director of the Private Equity Institute, London Business School		 Viral Acharya, Professor of Finance and Academic Director of the Private Equity Institute, London Business School
15.20 - 15.35 Closing remarks