Friday,  May 9, 2014
USC Marshall School, Popovich Hall, Room 210

10:00 am - 10:30 am   Continental Breakfast
10:30 am - 11:05 am   Dynamic Agency and Real Options
          Barney Hartman-Glaser (UCLA)  revised paper posted
               Co-author: Sebastian Gryglewicz (Erasmus University)    5/8, 11am
        Discussant:  Kevin Murphy (USC)
11:05 am - 11:20 am   Coffee Break
11:20 am - 11:55 am   Being Surprised by the Unsurprising:
  Earnings Seasonality and Stock Returns
          David Solomon (USC)
               Co-authors: Tom Chang (USC), Samuel Hartzmark (Chicago), and
               Eugene Soltes (HBS)
        Discussant:  Richard Roll (Caltech)
12:00 pm -  1:30 pm   Lunch   (Marshall School, room TBA)
1:30 pm -  2:05 pm   Analystsí Forecast Bias and the Overpricing of
  High Credit Risk Stocks
          Mark Grinblatt (UCLA)
               Co-authors: Gergana Jostova (George Washington University), and
               Alexander Philipov (George Mason University)
        Discussant:  Zheng Sun (UCI)
2:05 pm -  2:20 pm   Coffee Break
2:20 pm -  2:55 pm   What We Talk about When We Talk about Mutual Fundís
          Huang Chong (UCI)
               Co-author: Fei Li (UNC-Chapel Hill)
        Discussant:  Fernando Zapatero (USC)
2:55 pm -  3:10 pm   Coffee Break
3:10 pm -  3:45 pm   Local Risk, Local Factors, and Asset Prices
          Selale Tuzel (USC)
               Co-author: Miao (Ben) Zhang (UT-Austin)
        Discussant:  Hanno Lustig (UCLA)
3:45 pm   Adjourn

If you haven't already done so, please RSVP to attend this conference.
Click here to obtain a PDF version of the above program.

If you want a hardcopy, please print the papers yourself.  To obtain PDF copies of posted papers, click on the paper title in the program above.  Click here if you only want the paper abstracts (all 5 in one PDF).

There will be vegetarian options available at lunch.  However, feel free to include any food allergies or other pertinent information in your RSVP.

  - Go to USC Gate 3 at the corner of Figueroa St. and USC McCarthy Way. (3501 S. Figueroa St.)
  - Get in the right lane and stop at the kiosk.
  - Inform the kiosk attendant that you have a parking reservation under the name
          "Finance Day" with reservation confirmation number "50666".

  - The attendant will give you a parking pass and direct you to enter "Parking Structure X (PSX)"
           immediately adjacent to Gate 3.    DO NOT park in spaces marked "Reserved",
          "Carpool", or "Handicapped" or you WILL receive a parking ticket!

  - Leave the pass on the driver's side of your dashboard while parked.
  - There is no need to stop at the kiosk or return the pass when you leave.

Finance Day campus map with parking & JKP directions. (pdf)

Directions to USC Gate 3. (courtesy Google maps)        Full campus map (pdf).

For more information, contact the FBE Dept., 213-740-6515 or

Organizers: USC - Kenneth Ahern (kahern[at], Scott Joslin (sjoslin[at] and Yongxiang Wang (yongxiaw[at]; UCLA - Daniel Andrei (daniel.andrei[at]; and UCI - David Hirshleifer (david.h[at]

University of Southern California  ·  Finance and Business Economics Department  ·  BRI-308, MC-0804
3670 Trousdale Parkway, Ste. 308  ·  Los Angeles, CA 90089-0804 ·  213-740-6515  ·  213-740-6650 fax  ·
This page last modified: 5/8/14 by Terry Lichvar, Program Administrator, USC FBE Dept.     ©2014 Univ. of Southern California