Conference Program

 

Program - At a Glance

Thursday, June 15
08:30 - 12:00	Session 1: The Performance of Family Firms
12:00 - 14:00	Lunch Break
14:00 - 17:30	Session 2: Minority Protection
19:00 - 22:00	Boat Trip and Dinner on Lake Thun

 

Friday, June 16
08:30 - 12:00	Session 3: Corporate Governance in Family/Unlisted Firms
12:00 - 14:00	Lunch Break
14:00 - 17:30	Roundtable Discussion: Family Firms - Answering the Challenges
17:30 - 18:30	Refreshments
19:00 - 22:00	Conference Dinner

 

Saturday, June 17
08:30 - 12:00	Session 4: Financing New Ventures and the Decision to Go Public
12:00 - 14:00	Farewell Lunch

Detailed Academic Program

Session #1	The Performance of Family Firms
Date	Thursday, June 15, 08:30 – 12:00
Keynote: (08:30)	Belén Villalonga (Harvard Business School) ‹How Do Family Ownership, Control, and Management Affect Firm Value?›
Paper 1: (09:00)	The effect of family control on firm value and performance: Evidence from Europe Roberto Barontini (Sant’Anna School of Advanced Studies) and Lorenzo Caprio* (Università Cattolica del Sacro Cuore)
Paper 2: (09:30)	Performance and Behavior of Family Firms: Evidence From the French Stock Market David Sraer (CREST and GREMAQ) and David Thesmar* (ENSAE and CEPR)
(10:00)	Coffee Break
Paper 3: (10:30)	Stock Market Performance of Family Firms Marcel Corstjens* (INSEAD), Katrina Maxwell (INSEAD), Urs Peyer (INSEAD), and Ludo Van der Heyden (INSEAD)
Paper 4: (11:00)	The Causal Effect of Board Size in the Performance of Small and Medium-Sized Firms Morten Bennedsen (Copenhagen Business School and CEBR), Hans Christian Kongsted (Copenhagen Business School and Centre for Applied Microeconometrics), and Kasper Nielsen* (Copenhagen Business School and CEBR)
(11:30)	Discussion and Closing Remarks

 

Session #2	Minority Protection
Date	Thursday, June 15, 14:00 – 17:30
Keynote: (14:00)	Julian Franks (London Business School) ‹Spending Less Time with the Family: The Decline of Family Ownership in the UK›
Paper 1: (14:30)	Bankruptcy, Creditor Protection and Debt Contracts Stefano Rossi* (Stockholm School of Economics) and Nicola Gennaioli (Stockholm School of Economics)
Paper 2: (15:00)	External Governance and Debt Agency Costs of Family Firms Andrew Ellul* (Kelley School of Business, Indiana University), Levent Guntay (Kelley School of Business, Indiana University), and Ugur Lel (Board of Governors, Federal Reserve System)
(15:30)	Coffee Break
Paper 3: (16:00)	Protecting Minority Investors : Listed vs. Unlisted Firms Claudio Loderer* (Universität Bern) and Urs Wälchli (Universität Bern)
Paper 4: (16:30)	Benefits and Costs of Control-Enhancing Mechanisms in U.S. Family Firms Raffi Amit* (The Wharton School, University of Pennsylvania) and Belén Villalonga (Harvard Business School)
(17:00)	Discussion and Closing Remarks

 

Session #3	Corporate Governance in Family/Unlisted Firms
Date	Friday, June 16, 08:30 – 12:00
Keynote: (08:30)	Marco Becht (Université Libre de Bruxelles and ECGI) ‹Shareholder Activism in the UK›
Paper 1: (09:00)	Succession and Corporate Governance in Family Firms Marco Pagano* (Università di Napoli Federico II, CSEF, CEPR, and ECGI) and Fausto Panunzi (Bocconi University and CEPR)
Paper 2: (09:30)	Firm Performance, Entrenchment and CEO Succession in Family-Managed Firms David Hillier* (Leeds University Business School) and Patrick McColgan (Aberdeen University Business School)
(10:00)	Coffee Break
Paper 3: (10:30)	Inside the Family Firm: The Role of Families in Succession Decisions and Performance Morten Bennedsen* (Copenhagen Business School and CEBR), Kasper Nielsen (University of Copenhagen and CEBR), Francisco Pérez-González (Columbia University), and Daniel Wolfenzon (New York University and NBER)
Paper 4: (11:00)	What can we learn from small firms about executive compensation? Rebel Cole* (DePaul University) and Hamid Mehran (Federal Reserve Bank of New York)
(11:30)	Discussion and Closing Remarks

 

Roundtable Discussion: Family Firms - Answering the Challenges
We have invited a number of distinguished guests to share their thoughts about family firms.
Date: Friday, June 16, 14:00 – 17:30
Introduction: (14:00)	Claudio Loderer (Universität Bern) and Christoph Kaserer (TU München)
(14:15)	Short Presentations
	»	Mathias Margreiter (Daniel Swarovski Group)
	»	Heinz-Peter Elstrodt (McKinsey & Company)
	»	Karl Spielberger (UBS AG)
	»	Peter Nobel (Universität St. Gallen and Nobel & Hug Attorneys at Law)
	»	Kurt Schiltknecht (BZ Group and Universität Basel)
	»	Rudolf Stämpfli (Stämpfli AG Confederation of Swiss Employers)
(16:30)	Roundtable Discussion conducted by Christoph Kaserer (TU München)
After the roundtable discussion, refreshments will be served in the Foyer of Hotel Seepark.

 

Session #4	Financing New Ventures and the Decision to Go Public
Date	Saturday, June 17, 08:30 – 12:00
Keynote: (08:30)	John J. McConnell (Purdue University) ‹Corporate Governance and Going Public: Entrepreneurs v. The Establishment›
Paper 1: (09:00)	Favoritism or Markets in Capital Allocation? Mariassunta Giannetti* (Stockholm School of Economics, CEPR, and ECGI) and Xiaoyun Yu (Kelley School of Business, Indiana University)
Paper 2: (09:30)	Dual-Class IPOs, Share Recapitalizations, and Unifications: A Theoretical Analysis Thomas Chemmanur* (Boston College) and Yawen Jiao (Boston College)
(10:00)	Coffee Break
Paper 3: (10:30)	The Going Public Decision and the Product Market Thomas Chemmanur (Boston College), Shan He (Boston College), and Debarshi Nandy* (York University)
Paper 4: (11:00)	Shareholder Diversification and the Decision to go Public Andriy Bodnaruk (Maastricht University), Eugene Kandel (Hebrew University), Massimo Massa (INSEAD), and Andrei Simonov* (Stockholm School of Economics)
(11:30)	Discussion and Closing Remarks

* presenting author

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