Agenda

March 12, 2009

11:00 am  

Registration

12:00 pm

Lunch

1:00-1:45 pm  
Information Asymmetries between Lenders and the Availability of Competitive Outside Offers

Lamont Black (Federal Reserve Board)

Discussant: Scott Frame (Federal Reserve Bank of Atlanta )

1:45-2:30 pm  
The Capital Structure Decisions of New Firms

Alicia Robb (UC Santa Cruz) and David T. Robinson (Duke University)

Discussant: Douglas Cumming (York University )

2:30-3:00 pm  

Break

3:00-3:45 pm
Does Debtor Protection Really Protect Debtors? Evidence from the Small Business Credit Market

Allen Berger (University of South Carolina), Geraldo Cerqueiro (Tilburg University), and Maria Fabiana Penas (Tilburg University)

Discussant: Emre Ergungor (Federal Reserve Bank of Cleveland)

3:45-4:30 pm  
Capital Structure and Entreprenuerial Performance: New Firm Innovation and Survival

Sheryl Winston Smith (Temple University)

Discussant: Donald Siegel (University at Albany, SUNY )

4:30–4:45 pm  

Break

4:45-5:30 pm  
Determinants of Start-up Firm External Financing Worldwide

John R. Nofsinger (Washington State University) and Weicheng Wang (Washington State University)

Discussant: Michael Roach (Universtity of North Carolina )

5:45-6:30 pm

Reception: Ritz Carlton

6:45 pm  

Dinner: Ritz Carlton

 March 13, 2009
7:45-8:30 am  

Executive Breakfast

8:30-9:15 am
Entrepreneurial Finance Around the World: The Impact of the Business Environment on Financing Contraints

Larry Chavis (University of North Carolina), Leora Klapper (World Bank), and Inessa Love (World Bank)

Discussant: Nico Lacetera (Case Western Reserve University )

9:15-10:00 am  
Small and Medium-sized Enterprises, Bank Relationship Strength, and the Use of Venture Capital

Allen N. Berger (University of South Carolina) and Klaus Schaeck (University of Wales)

Discussant: Ben Craig (Federal Reserve Bank of Cleveland )

10:00-10:15 am  

Break

10:15-11:00 am  
Financial Capital Injections among New Black and White Business Ventures: Evidence from the Kauffman Firm Survey

Alicia Robb (UC Santa Cruz), David T. Robinson (Duke University), and Robert Fairlie (UC Santa Cruz)

Discussant: Elijah Brewer III (DePaul University )

11:00-11:45 am  
Gender and the Availability of Credit to Privately Held Firms: Evidence from the Surveys of Small Business Finances

Rebel Cole (DePaul University) and Hamid Mehran (Federal Reserve Bank of New York)

Discussant: Pamela Peterson Drake (James Madison University )

11:45 am-1:00 pm

Lunch

1:00-1:45 pm
Informal and Early Formal Financial Support in the Business Creation Process: Exploration with PSED II Data Set

Paul Reynolds (Florida International University)

Discussant: John Earle (Upjohn Institute )

1:45-2:00 pm Break
2:00-2:45 pm
Expected Returns to Angel Investors

Ramon P. DeGennaro (University of Tennessee) and Gerald P. Dwyer (Federal Reserve Bank of Atlanta)

Discussant: Debarshi Nandy (York University)

2:45-3:30 pm
Value Added by Angel Investors through Post-Investment Involvement: Empirical Evidence and Ownership Implications

Jess Chua (University of Calgary) and Zhenyu Wu (University of Saskatchewan)

Discussant: Boyce Watkins (Syracuse University)

3:30 pm

Adjourn