2013 – Industrial Organization and Corporate Finance


IFN Stockholm Conference on


Industrial Organization and Corporate Finance


Updated June 10, 2013

Each presentation should take 20 minutes, the discussant may use 5 minutes and 20 minutes are devoted to general discussion. 



--- Wednesday June 12 --- 


19.00 Pre Conference Dinner

Waxholm's Hotel, for conference participants arriving on Wednesday


--- Thursday June 13 --- 


08.30–08.45  Registration

08.45–09.00  Welcome address

Session I


09.00–09.45  Regulating Deferred Incentive Pay
Presenter: Roman Inderst
Discussant: Thomas Tangerås

09.45–10.30  Buying to Sell: Private Equity Buyouts and Industrial Restructuring
Presenter: Lars Persson 
Discussant: Roman Inderst

10.30–11.00  Coffee

11.00–11.45  Credit Ratings and Security Design
Presenter: Joel Shapiro
Discussant: Rune Stenbacka

11.45–12.30  Why Entrepreneurs Choose Risky R&D Projects – But Still Not Risky Enough
Presenter: Pehr-Johan Norbäck 
Discussant: Jens Josephson

12.30–13.45  Lunch

Session II

13.45–14.30  Transparency, Tax Pressure and Access to Finance
Presenter: Fausto Panunzi 
Discussant: Mikaela Carlström

14.30–15.15  The Tax Shield of Debt Distorts the Market for Corporate Control
Presenter: Joacim Tåg
Discussant:  Fausto Panunzi

15.15–15.45  Coffee

15.45–16.30  The Incentives for Vertical Mergers and Vertical Integration
Presenter: Gordon Phillips 
Discussant:  Giacinta Cestone

16.30–17.15 General discussion: The State of the Field "Industrial Organization and Corporate Finance"
Chair: Lars Persson and Joacim Tåg

18.45–22.00  Boat trip with dinner


--- Friday June 14 --- 


Session III

09.00–09.45  Strategic Supply Chain Financing
Presenter: Frans Saxen 
Discussant: Nadav Levy

09.45–10.30 Partial Vertical Integration, Ownership Structure and Foreclosure
Presenter: Nadav Levy 
Discussant: Albert Banal-Estañol

10.30–11.00  Coffee (and check out from the hotel)

11.00–11.45  Insolvency Resolution and the Missing High Yield Bond Markets
Presenter: Jens Josephson 
Discussant: Frans Saxen

11.45–12.30  Screening-based Competition
Presenter: Rune Stenbacka 
Discussant: Yossi Spiegel

12.30–13.45  Lunch

Session IV

13.45–14.30  Backward integration, forward integration, and vertical foreclosure
Presenter: Yossi Spiegel
Discussant: Joel Shapiro

14.30–15.15  The Simple Economics of Capital Structure, Corporate Structure, and Information Policy
Presenter: Albert Banal-Estañol 
Discussant: Gordon Phillips

15.15–15.30  Closing remarks

16.15–17.15  Boat trip to Stockholm and transfer to Hotel Terminus for participants staying in Stockholm for the night/weekend.

Leading Research Environment

IFN at the top


Illustration puff sid 1


The Research Institute of Industrial Economics, IFN, is a private and independent foundation devoted to pursuing highly relevant research for trade and industry.

The researchers at IFN are united in their belief that economic methods offer a powerful tool for understanding society.

The main research programs are:

  1. economics of entrepreneurship
  2. globalization and corporate restructuring
  3. economics of the service sector
  4. economics of the electricity markets
  5. economics of institutions and culture.

Research Institute of Industrial Economics, Grevgatan 34 - 2 fl, Box 55665, SE-102 15 Stockholm, Sweden | Phone: +46-(0)8-665 45 00 | info@ifn.se