Understanding the capital structures of non-financial and financial corporations.

• Position: Conferences

NBER Research Associates Viral Acharya of NYU's Stern School of Business, Heitor Almeida of the University of Illinois at Urbana-Champaign, and Malcolm Baker of the Harvard Business School organized an NBER conference on "Understanding the Capital Structures of Non-Financial and Financial Corporations" which took place on April 5 and 6, 2013. They selected these papers to discuss:

* Alexander Ljungqvist, New York University and NBER, and Florian Heider, European Central Bank, "As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from Exogenous State Tax Changes" (NBER Working Paper No. 18263)

* Jaewon Choi and Dirk Hackbarth, University of Illinois, Urbana-Champaign, and Josef Zechner, Vienna University of Economics and Business, "Granularity of Corporate Debt"

* Arvind Krishnamurthy and Annette Vissing-Jorgensen, Northwestern University and NBER, "Short-term Debt and Financial Crises: What We Can Learn from U.S. Treasury Supply"

* Isil Erel, Ohio State University; Stewart Myers, MIT and NBER; and James Read, The Brattle Group, "Capital Allocation"

* Franklin Allen, University of Pennsylvania and NBER, and Elena Carletti, European University Institute, "Deposits and Bank Capital Structure"

* Konstantin Milbradt, MIT, and Martin Oehmke, Columbia University, "Maturity Rationing and Collective Short-Termism"

* Anat...