CFP: Contracting Conference

Call for Papers
2013 Conference and Journal of Corporate Finance Special Issue

Location: Wake Forest University (Winston-Salem, NC)
Date: November 7-8, 2013

The objective of this conference is to increase our understanding of contracting issues at the intersection between the public and private sector. Such issues may relate to corporate governance, restructuring, financial architecture, payout, and other corporate finance decisions.

The intersection of the public and private sector can be thought of as following a spectrum from nationalization (i.e., state takes control of private firm) to state ownership (i.e., state owns and controls firm) to privatization (i.e., state sells firm to private owners).

At each point across the spectrum, recent events (such as both the financial crisis and the sovereign debt crisis) have raised even more interesting and important questions to be explored by empirical and theoretical research. We welcome empirical and theoretical papers on any issue broadly related to this theme. In particular, we invite innovative papers that test new hypotheses regarding the inter-relation of business and government and cross disciplinary papers which apply scholarship from public administration, political science and the other social sciences to deepen our understanding of corporate finance decisions which span the state and private sectors.

Potential topics may include, but are not limited to the following.
Nationalization and the financial crisis of 2007-2009. Was nationalization more prevalent during the recent financial crisis? What is the empirical evidence regarding the correlation between crisis and nationalization?
The state as shareholder. Can the state serve as an “activist” investor? How do objectives of state shareholders differ from objectives of traditional blockholders? Is there a special role for sovereign wealth funds (SWFs)? How have the investing activities and the overall impact of SWFs changed during the financial crisis?
The state as venture capitalist. What is the empirical evidence regarding the relative successes and failures of state investments in emerging businesses and start-ups?
The state as banker. How did state-owned banks perform during the financial crisis? How did governments use state-owned banks to help manage the recent financial crisis?
The state as counterparty with private firms. Do private firms design contracts differently when a state-owned firm is the counterparty?
The state as investment banking client. How does the underwriting process differ between privatizing share offerings and the IPOs of private firms? How do states select the markets for the privatizing share offerings?
Privatization and the sovereign debt crisis. Has privatization become more prevalent during the recent sovereign debt crisis?
Privatization as solution to fiscal crisis. What is the potential impact of privatization as alternative/complement to tax increases and state spending cuts? How has privatization been previously used as a tool to address fiscal crisis?
Effect of privatization on agency costs and contracting decisions. How do major contracting decisions change following privatization?
Effect of the financial crisis and/or the sovereign debt crisis on the performance of firms at the intersection of the public and private sectors. Did the effect of the crises differ across state-owned firms, privately-owned firms, and partially state-owned firms?
Conference and Special Issue Guest Co-Editors:
Narjess Boubakri, American University of Sharjah, United Arab Emirates
Jean-Claude Cosset, HEC Montréal, Canada
Robert Nash, Wake Forest University, USA
Preparation and Submission of Manuscripts

Papers should be submitted through the Journal of Corporate Finance website. The submission website for the journal is located at: http://ees.elsevier.com/corfin/default.asp

When submitting a paper, a prompt will appear to “Select an Article Type”. At this point, please indicate that the submission is intended for this conference/special issue by selecting “Public/Private Intersec” from the drop-down menu. All papers will be managed by the typical review process of the Journal of Corporate Finance and will be subject to the journal’s usual submission fee.

Authors are encouraged to submit their work no later than July 1, 2013. Submission deadline: July 1, 2013. Authors of accepted papers for the conference will be notified in August 2013. A subset of papers presented in the conference will be invited for consideration for publication in the Journal of Corporate Finance Special Issue. Eventual acceptance is subject to successfully addressing comments by referees and co-editors.

Please note that the Journal of Corporate Finance is also sponsoring a special issue on Corporate Governance in China. While we welcome papers focusing on China, authors should review the call for papers for the China special issue before deciding where to submit their work.

Other Information About the Conference

The conference will be held at Wake Forest University in Winston-Salem, North Carolina. In addition to the paper presentations, the conference will feature a keynote speaker, an opening dinner, and several other opportunities for social and professional events. For more information, please see the conference website. The conference organizers will also provide funding to cover some costs for presenting authors.
Conference website: http://capitalism.wfu.edu/conference2013/

Questions regarding papers and paper submissions may be addressed to: privatization@wfu.edu

Questions regarding any other aspects of the conference may be addressed to: davijc@wfu.edu