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Events | Texas Finance Festival
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    The conference that gives a real Texas experience.

    San Antonio | Texas

Texas Finance Festival

The 18th Annual Texas Finance Festival

April 28-30, 2016
Sponsored by the Department of Finance at The University of Texas at Austin and the Review of Financial Studies (RFS)

History of the Conference

The first meeting of the Texas Finance Festival (TFF) was in Kerrville, Texas, in 1999. The Kerrville Folk Music Festival is held annually in Kerrville, thus the name for our conference. Since then, the conference has been held in Austin, Horseshoe Bay, Marble Falls, and San Antonio.


Thursday, April 28th

7:00 p.m.
Dinner @ Barriba Cantina
111 W. Crockett Street #214
San Antonio, TX 78205
Phone: 210-228-9876

Friday, April 29th

8:00 a.m.
Breakfast and Registration at Hotel Valencia

9:00 a.m. - 9:50 a.m.
"Monetary Policy Through Production Networks: Evidence from the Stock Market"
Authors: Ali Ozdagli (Federal Reserve Bank of Boston) and Michael Weber (University of Chicago)
Stijn Van Nieuwerburgh (New York University)

10:00 a.m. - 10:50 a.m.
"Financial Regulation in a Quantitative Model of the Modern Banking System"
Authors: Juliane Begenau (Harvard University) and Tim Landvoigt (University of Texas at Austin)
David Chapman (University of Virginia)

11:00 a.m. - 11:50 a.m.

"The Great Wall of Debt: Corruption, Real Estate, and Chinese Local Government Credit Spreads"
Authors: Andre Ang (Columbia University), Jennie Bai (Georgetown University), and Hao Zhou (Tsinghua University)
Discussant: Bing Han (University of Toronto)

12:00 p.m.
Lunch and Activities

2:30 p.m. - 3:20 p.m.
"Returns to Talent and the Finance Wage Premium"
Authors: Claire Celerier (University of Zurich) and Boris Vallee (Harvard University)
Alex Edmans (London Business School)

3:30 p.m. - 4:20 p.m.
"Do Director Elections Matter?"
Authors: Vyacheslav Fos (Boston College), Kai Li (University of British Columbia), and Margarita Tsoutsoura (University of Chicago)
Alex Butler (Rice University)

4:30 p.m. - 5:20 p.m.
"State Taxation and the Reallocation of Business Activity: Evidence from Establishment-Level Data"
Authors: Xavier Giroud (MIT) and Joshua Rauh (Stanford University)
Discussant: Mitchell Petersen (Northwestern University)

6:30 p.m.
Reception and Dinner
The Buckhorn Saloon and Museum
The Texas Ranger Museum
318 East Houston Street
San Antonio, TX 78205
Phone: 210-247-4000

Saturday, April 30th

8:00 a.m.

9:00 a.m. - 9:50 a.m.
"What Drives Price Dispersion and Market Fragmentation across U.S. Stock Exchanges?"
Authors: Yong Chao (University of Louisville), Chen Yao (University of Warwick), and Mao Ye (University of Illinois at Urbana-Champaign)
Christine Parlour (University of California at Berkeley)

10:00 a.m. - 10:50 a.m.
"Efficient Prices at Any Cost: Does Algorithmic Trading Deter Information Acquisition?"
Authors: Brian Weller (Northwestern University)
Discussant: Matthew Spiegel (Yale University)

11:00 a.m. - 11:50 a.m.
"Trust Busting: The Effect of Fraud on Investor Behavior"
Authors: Umit G. Gurun (University of Texas at Dallas), Noah Stoffman (Indiana University), and Scott Yonker (Cornell University)
Geoff Tate (University of North Carolina)

12:00 p.m.

Please e-mail any questions regarding the schedule or papers to:
Clemens Sialm


Presenters and Discussants - Please Register Here

UT Faculty and PhD Students - Please Register Here

All Other Conference Attendees - Please Register Here

Registration will close on Friday, April 8, 2016.


Room Block Available:

ValenciaHotel Valencia Riverwalk
150 East Houston Street, San Antonio, Texas 78205
Phone: 210-227-9700

We have negotiated a room block at Hotel Valencia Riverwalk in San Antonio, Texas. For more information please visit their website or call 855-569-3387 to make a room reservation no later than Friday, April 8, 2016. This date is firm and there will be no exceptions to the cut-off date to ensure the special negotiated rate of $195/night. Please mention that you are with the Texas Finance Festival in order to access the room block.

Additional Nearby Hotels:

Embassy Suites San Antonio Riverwalk-Downtown
125 E. Houston Street
San Antonio, TX 78205

Courtyard By Marriott San Antonio Riverwalk
207 N Saint Mary's Street
San Antonio, TX 78205

Drury Inn & Suites San Antonio Riverwalk
201 N Saint Mary's Street
San Antonio, TX 78205

Drury Plaza Hotel San Antonio Riverwalk
105 S Saint Mary`s Street
San Antonio, TX 78205

Holiday Inn San Antonio Riverwalk
217 N Saint Mary's Street
San Antonio, TX 78205

Omni La Mansion Del Rio
112 College Street
San Antonio, TX 78205

Sheraton Gunter Hotel San Antonio
205 East Houston Street
San Antonio, TX 78205

Wyndham San Antonio Riverwalk
111 East Pecan Street
San Antonio, TX 78205


Program Committee Co-Chairs:
Andres Donangelo
Cesare Fracassi
Clemens Sialm
Sheridan Titman

Program Committee:
Andres Almazan
Aydogan Alti
Keith Brown
Jonathan Cohn
John Griffin
John Hatfield
Travis Johnson
Matthias Kahl
Shimon Kogan
Sam Kruger
Tim Landvoigt
Inessa Liskovich
Alessandro Previtero
Ehud Ronn
Jan Schneider
Michael Sockin
Mindy Zhang

Organizing Committee:
Juana Hardwick
Kyle Hernandez