Risk and Regulation in Derivatives (or Why Derivatives Are a Blessing, Not a Curse)

• Author: Clifford Smith,Ludger Hentschel
• Published date: 01 March 2020
• DOI: http://doi.org/10.1111/jacf.12387
• Date: 01 March 2020

IN THIS ISSUE:

Honoring

Cli Smith

VOLUME 32

NUMBER 1

WINTER 2020

APPLIED

CORPORATE FINANCE

Journal of

8Economics and Ethics: e Case of Salomon Brothers

Clifford Smith, University of Rochester

14 University of Georgia Roundtable on Enterprise-Wide Risk Management

Panelists: Clifford Smith, University of Rochester; Greg Niehaus, University of South Carolina;

Christie Briscoe, AGL Resources; Walter Coleman, First Data Corp; Keith Lawder, Wachovia Bank;

Sailesh Ramamurtie, Mirant Corporation. Moderated by James Verbrugge, University of Georgia, and

Donald Chew, Stern Stewart & Co.

36 Risk and Regulation in Derivatives

(or Why Derivatives Are a Blessing, Not a Curse)

Ludger Hentschel and Clifford Smith, University of Rochester

48 Corporate Insurance Strategy: e Case of British Petroleum

Neil A. Doherty, University of Pennsylvania, and Clifford Smith, University of Rochester

58 University of Rochester Roundtable on Bankruptcy vs. Bailouts:

e Case of General Motors and the U.S. Auto Industry

Panelists: Thomas Jackson, James Brickley, and Clifford Smith, University of Rochester;

Charlie Hughes, Past President and CEO of Mazda North America; and Joel Tabas,

Tabas, Freedman, Soloff and Miller. Moderated by Mark Zupan.

80 e Capital Structure Puzzle: Another Look at the Evidence

Michael J. Barclay and Clifford Smith, University of Rochester

92 Morgan Stanley Roundtable on Capital Structure and Payout Policy

Panelists: Clifford Smith, University of Rochester; David Ikenberry, University of Illinois;

Arun Nayar, PepsiCo; and Jon Anda and Henry McVey, Morgan Stanley.

Moderated by Bennett Stewart, Stern Stewart & Co.

108 e Economics of Organizational Architecture

James Brickley, Clifford Smith, and Jerold Zimmerman, University of Rochester

120 Transfer Pricing and the Control of Internal Corporate Transactions

James Brickley, Clifford Smith, and Jerold Zimmerman, University of Rochester

128 Using Organizational Architecture to Lead Change

James Brickley, Clifford Smith, and Jerold Zimmerman, University of Rochester,

with Janice Willett, Journal of Financial Economics