Seventh Annual Napa Conference on Financial Markets Research
Friday, April 30-Saturday, May 1, 2010

Co-Hosts:
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.

Conference Map: Map of hotel, winery and restaurant

CONFERENCE SCHEDULE FRIDAY, APRIL 30, 2010
4:00 pm	Hotel check in Napa Valley Lodge 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 8300 St. Helena Hwy Rutherford, CA 800-588-0298
SATURDAY, MAY 1, 2010
8:00 - 8:30 am	Continental Breakfast - Napa Valley Lodge (carpool to Cakebread)
8:30 - 8:45 am	Welcome - Cakebread Cellars - Pond Building 8300 St. Helena Hwy Rutherford, CA 800-588-0298
8:45 - 9:30 am	"Tolerance for Failure and Corporate Innovation" Xuan Tian and Tracy W. Wang
9:30 - 10:15 am	"Corporate Diversification and the Cost of Capital" Oguzhan Ozbas, Rebecca N. Hann and Maria Ogneva
10:15 - 10:45 am	Break
10:45 - 11:30 am	"Regulatory Uncertainity and Market Liquidity: The 2008 Short Sale Ban's Impact on Equity Option Markets" Robert H. Battalio and Paul Schultz
11:30 am - 12:15 pm	"Are Strategic Disclosure and Underpricing Decisions Influenced by Liability Risk?" Kathleen Weiss Hanley and Gerard Hoberg
12:15 - 2:00 pm	Lunch (Cakebread Cellars ~ Winery House)
2:00 - 2:45 pm	"Hedge Funds in Chapter 11" Wei Wang, Wei Jiang and Kai Li
2:45 - 3:30 pm	"Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis" Almeida Heitor, Murrillo Campello, Bruno Larajeira, and Scott Weisbenner
3:30 - 4:30 pm	Wine Tasting ~ Deck of Pond Building
6:00 pm	Dinner (Hurley's Restaurant) 6518 Washington Street Yountville, CA 94599 707-944-2345
SUNDAY, MAY 2, 2010
8:00 - 10:00 am	Continental Breakfast – Napa Valley Lodge
12:00 pm	Hotel Check-out