Theory and Inference in Capital Market Research Conference

The 2017 Theory and Inference in Capital Market Research Conference will be held from December 8 to 9 at Stanford Graduate School of Business, McClelland Building, Room M109.

This conference will feature research prepared by leading economists alongside junior accounting researchers. The speakers will address, from different angles, the causes and consequences of information in the capital market. The conference’s goal is to encourage empirical research, grounded on economic theory, that focuses on how information affects the capital market.

Speakers & Schedule

Friday, December 8
12:00-1:00 pm Registration at McClelland Building, room M109
Lunch at Bass Center, B400
1:00-1:15 pm Theory and Inference in Economics: John Rust’s Perspective
1:15-2:15 pm Presenter: Alex Edmans, London Business School
Co-Authors: Vivian Fang and Allen Huang
Paper: The Long-Term Consequences of Short-Term Incentives
2:15-3:15 pm Presenter: John Rust, Georgetown University
Co-Presenter: Sudip Gupta, Fordham University
Paper: A Simple Theory of Why and When Firms Go Public
3:15-3:45 pm Break
3:45-4:45 pm Presenter: Robert A. Miller, Carnegie Mellon University
Co-Authors: Jeremy Bertomeu, Ivan Marinovic, and Felipe Varas
Paper: An Empirical Model of Long-Term Contracting with Manipulation
4:45-5:45 pm Presenter: George-Levi Gayle, Washington University in St. Louis
Co-Authors: Judson Caskey and Chen Li
Paper: The Role of Accounting in a Dynamic Model of CEO Pay and Turnover
5:45-8:30 pm Reception and Dinner at Schwab Dining Hall
Saturday, December 9
8:00-8:30 am Breakfast at M109
8:30-8:45 am Theory and Inference in Finance: Toni Whited’s Perspective
8:45-9:45 am Presenter: Jeremy Fox, Rice University
Co-Authors: Joseph Gerakos and Korok Ray
Paper: How CEO Contracts Address Multitasking: An Empirical Matching Approach
9:45-10-45 am Presenter: Toni Whited, University of Michigan
Co-Authors: Anastasia Zakolyukina and Stephen Terry
Paper: Information Distortion, R&D, and Growth
10:45-11:00 am Break
11:15-12:15 pm Presenter: Frank Zhou, University of Pennsylvania
Co-Author: Edwige Cheynel
Paper: The Consequences of Mandating Auditor Rotation: Evidence from a Dynamic Structural Model
12:15-1:15 pm Boxed Lunch

Faculty Organizer

Associate Professor


This event is by invitation only. Registration ended on Friday, October 20, 2017.


We have reserved a block of rooms for this conference at the Sheraton Palo Alto Hotel.

Each attendee must make his/her own reservation must mention “Theory and Inference in Capital Market Research Conference” in order to receive the group rate.

Ways to Make Your Reservation

Call 1 (800) 325-3535
Email Sheraton Reservations with your:
  • Name
  • Address
  • Phone number
  • Name of your group
  • Arrival and departure date
  • Credit card number and expiration date (to guarantee reservation)
Online Sheraton Online Reservations

Cut-Off Date

The reservation cut-off date is Friday, November 17, 2017. Any remaining rooms in the block will be released this day. Reservations received after the cut-off date will be taken on a space-available basis and the group rate will no longer be guaranteed.

Guest Room Rate and Billing

The per-night rate for a single or double room is:

December 7 $249 per night
December 8 - 9 $119 per night

The following taxes and fees are applied per room per night:

Occupancy tax 14%
California tourism tax 0.195%
Convention and Visitors Bureau Tourism fee $0.84
These taxes are not included in the room rate and are subject to change without notice.

Each individual will be responsible for his or her own room, tax and incidental charges. A credit card deposit will be requested upon check-in.


We offer valet parking for $23 per day, or self-parking for $18 per day.

Check-In and Check-Out Time

The check-in time is 3:00pm and check-out time is 12:00pm. The hotel will accommodate early arrivals on a space-available basis only. If you do not check-in before 12:01am the day following your arrival, we will release the hold on the room and it will be available for general sale.

Guest Room Internet

High-speed internet access is included in the rate.

No Show or Failure to Show Policy

All individual guest rooms must be canceled 48 hours or more prior to arrival to receive a full refund. If a guest should fail to show, on the reserved arrival date, a charge of one-night room and tax will be charged to the individual’s credit card or to the contracted account assigned.