Sixth Annual Napa Conference on Financial Markets Research

Click Here for the 2015 Napa Conference on Financial Markets Research


The Graduate School of Management partners with the Financial Management Association to co-sponsor this unique conference. Financial Management is the flagship journal of FMA which seeks high quality articles that are of interest to academics, but also have the potential to influence business practice. The Graduate School of Management is a small, intimate community of top-notch students and world-class scholars with strong ties to the California wine industry. To reflect the unique character and focus of the school, the conference sessions take place at the Cakebread Winery located in the bucolic Napa Valley.

Venue: Cakebread Cellars Winery

Over 30 years ago, Jack Cakebread came to photograph the Napa Valley for a book and while here, he casually mentioned his interest in one day owning a vineyard to some family friends who had a ranch in Rutherford. When he returned home that afternoon, the phone rang and it was the family friends offering to sell their property. He headed back up to the valley that same afternoon to make his best offer, and Cakebread Cellars was born.

Hotel: Napa Valley Lodge

All conference attendees, besides presenters, must call in their own hotel reservations. The hotel room rate is $325 plus tax per night. Hotel reservations can be made by calling 707-944-2468 and referencing the UC Davis Finance Conference. Presenters will have their hotel reservations made for them.

FRIDAY, April 3, 2009

4:00 pm -  Hotel check in Napa Valley Lodge (Reserve by February 23, 2 night minimum)

2230 Madison Street
Yountville, CA 94599
707-944-2468 or 888-944-3545

5:30 – 6:30 pm  Wine hour – Napa Valley Lodge (carpool to Cakebread Cellars)
6:30 pm Welcome Dinner – Cakebread Cellars – Pond Building

8300 St. Helena Hwy
Rutherford, CA

SATURDAY, April 4, 2009

8:00 – 8:30 am  Continential Breakfast – Napa Valley Lodge (carpool to Cakebread)
8:30 – 8:45 am  Welcome – Cakebread Cellars – Pond Building

8300 St. Helena Hwy
Rutherford, CA

8:45 – 9:30 am “Say on Pay Vote and CEO Compensation: Evidence from UK”

Fabrizio Ferri and David Maber

9:30 – 10:15 am  “Corporate Fraud and Business Conditions: Evidence from IPOs”

Tracy Y. Wang, Andrew Winton and Xiaoyun Yu

10:15 – 10:45 am  Break
10:45 – 11:30 am  “Option Value of Cash”

Jialin Yu

11:30 am – 12:15 pm “Price-destabilizing Short Selling”

Andriy Shkilko, Bonnie Van Ness and Robert Van Ness

12:15 – 2:00 pm  Lunch (Cakebread Cellars ~ Winery House)
2:00 – 2:45 pm “Love & Loans The Effect of Beauty and Personal Characteristics in Credit Markets”

Enrichetta Ravina

2:45 – 3:30 pm “Estimating the Effects of Large Shareholders Using a Geographic Instrument”

Bo Becker, Henrik Cronqvist and Rüdiger Fahlenbrach

3:30 – 4:30 pm  Wine Tasting ~ Deck of Pond Building
6:00 pm Dinner – Dinner (Napa Valley Grille ~ California Room)

6518 Washington Street
Yountville, CA 94599

SUNDAY, MAY 5, 2009

8:00 – 10:00 am  Continental Breakfast – Napa Valley Lodge
12:00 pm  Hotel Check-out