2018 Napa Conference on
Financial Markets Research  

23 - 24 March 2018 | Napa Valley, CA

Beringer Vineyards
2000 Main Street, St. Helena, CA 94574

Co-hosted by the UC Davis Graduate School of Management and FMA’s flagship journal, Financial Management, the 2018 FMA Napa Conference on Financial Markets Research features high-quality papers from scholars conducting financial markets research.

The Program Co-chairs are Brad Barber, Gallagher Professor of Finance, Associate Dean of Academic Affairs, and Director of the Center for Investor Welfare and Corporate Responsibility at UC Davis, Utpal Bhattacharya, Executive Editor, Financial Management and Director, Center for Asian Financial Markets, Professor, Department of Finance and Institute for Emerging Market Students at HKUST, Joe Chen, Associate Professor of Management, UC Davis, Bing Han, Editor, Financial Management and Professor of Finance and Dr. Anita Chan Chair in Applied Quantitative Finance at the University of Toronto, and Rajkamal Iyer, Editor, Financial Management and Associate Professor of Finance at Imperial College Business School.

Conference Agenda

Friday, 23 March

Conference Dinner, Bottega Restaurant, 6:30 pm reception, 7:00 pm dinner

Saturday, 24 March

7:30 am, Continental Breakfast (Vintage House)

8:00 am, Carpool to Beringer 

8:30 am, Welcome (Fermentation Room)


8:45 am - 9:30 am
Market Power and Price Informativeness
Marcin Kacperczyk, Imperial College London & CEPR | Jaromir Nosal, Boston College | Savitar Sundaresan*, Imperial College London

9:30 am - 10:15 am
Front Page News: The Effect of News Positioning on Financial Markets
Anastassia Fedyk, Harvard University

Break, 10:15 am - 10:45 am

10:45 am - 11:30 am
Credit and Punishment: The Career Incentives of Wall Street Brokers
Janet Gao*, Indiana University | Kristoph Kleiner, Indiana University | Joseph Pacelli, Indiana University

11:30 am - 12:15 pm
When Investor Incentives and Consumer Interests Diverge: Private Equity in Higher Education
Charlie Eaton, UC Merced | Sabrina T Howell*, New York University | Constantine Yannelis, New York University

Luncheon (Hudson House), 12:15 pm - 2:00 pm

2:00 pm - 2:45 pm
New Evidence on Venture Loans
Juanita González-Uribe, London School of Economics | William Mann*, UCLA

2:45 pm - 3:30 pm
Are Early Stage Investors Biased Against Women?
Michael Ewens, California Institute of Technology | Richard R Townsend*, University of California, San Diego

Cave Tour and Wine Tasting, 3:45 pm - 4:15 pm

Conference Dinner, Hurley's Restaurant

6:30 pm reception, 7:00 pm dinner


(* Presenter)


#FMANapa2018 - Follow the Conversation

During the conference, use the hashtag #FMANapa2018 to follow the conversation on Twitter (@finmgmtassoc) and Facebook (www.facebook.com/FMA.org).

Thank You Sponsors


About UC Davis

The UC Davis Graduate School of Management is focused on preparing the next generation of inspired, results-driven and innovative leaders who are committed to making a positive impact.

About Financial Management

Financial Management, FMA's flagship quarterly journal, significantly impacts financial research and business practice by publishing research of high quality. The Editorial Board is led by Executive Editor Utpal Bhattacharya, HKUST, and Editors Bing Han, University of Toronto and Rajkamal Iyer, Imperial College.