会议议程 | 2018大中华区金融学术会议

                  PROGRAM DETAILS (Preliminary)

                  Saturday, June 23, 2018, 8:30 am- 8:45 am

                  Opening Ceremony  N302  (Chair: Yinggang Zhou)

                   

                  Saturday, June 23, 2018, 8:45 am- 10:15 am

                  Keynote Speech I     N302  (Chair: Ye Guo)

                  Development of Financial Economics

                  Gregory Chow, Princeton University

                   

                  Keynote Speech II    N302  (Chair: Haiwei Jing)

                  Corporate Actions and the Manipulation of Retail Investors:The Case of Stock Splits in China

                  Sheridan Titman, University of Texas at Austin

                  Saturday, June 23, 2018, 10:45 am – 12:15 pm

                  Labor & Finance  N301

                  Xiaoran Ni, Xiamen University

                   

                  Labor Market Immobility and Incentive Contract Design

                  Chen Lin, University of Hong Kong

                  Lai Wei, Lingnan University

                  Nan Yang, Hong Kong Polytechnic University

                   

                  Controlling Shareholder Expropriation and Labor Investment Efficiency

                  Xiaoran Ni, Xiamen University

                   

                  Institutional Investors and Employee Wages

                  Yao Lu, Tsinghua University

                  Zhang Peng, Tsinghua University

                  Zhufeng Xu, Tsinghua University

                  Shanghan Gao, Tsinghua University

                   

                  Managerial Labor Market Competition and Agency Problems: The Impact of China’s Open-Market Recruiting Reform on Earnings Management

                  Yongxin Xu, Victoria University of Wellington

                  Gaoping Zheng, Southwestern University of Finance and Economics

                   

                  Discussant:

                  Zhang Peng, Tsinghua University

                  Nan Yang, Hong Kong Polytechnic University

                  Yongxin Xu, Victoria University of Wellington

                  Xiaoran Ni, Xiamen University

                   

                  Asset Pricing I   N302

                  Tao Wu, Illinois Institute of Technology

                   

                  Individual investor buying and individual investor selling around dividend announcement

                  Changfeng Ma, Shanghai National Institute of Accounting

                  William T. Lin, Tamkang University

                   

                  The Correlated Trading and Investment Performance of Individual Investors

                  Wei-Yu Kuo, Chengchi University

                  Tse-Chun Lin, University of Hong Kong

                  Jing Zhao, The Hong Kong Polytechnic University

                   

                  Diversification in Lottery-Like Features and Portfolio Pricing Discounts

                  Xin Liu, University of Bath

                   

                  An Equilibrium Model with Buy and Hold Investors

                  Tao Wu, Illinois Institute of Technology

                   

                  Discussant:

                  Jing Zhao, The Hong Kong Polytechnic University

                  Xin Liu, University of Bath

                  Tao Wu, Illinois Institute of Technology

                  Changfeng Ma, Shanghai National Institute of Accounting

                   

                  Corporate Governance   N303

                  Chao Ma, Xiamen University

                   

                  The impact of holding bank ownership on investment efficiency: Evidence from China

                  Tianpei Luo, Curtin University

                  Gary Gang Tian, Macquarie University

                  Hongjian Wang, Jinan University

                  Huanming Yan, Nanchang University

                   

                  Does Capital Structure Differently Affect Incumbents’ Responses to Entry Threat and Actual Entry?

                  Chao Ma, Xiamen University

                   

                  Corporate Alliances, Resource Reallocation, and the Propagation of Merger Activity     

                  Fernando Anjos, Nova School of Business and Economics

                  Haiwei Jing, Xiamen University

                   

                  Independent Directors’ Board Network and Compensation - A Study on Listed Financial Companies in Taiwan

                  PeiLin Hsieh, Xiamen University

                  Ami Chang, Xiamen University

                  Qinqin Zhang, Xiamen University

                   

                  Discussant:

                  Chao Ma, Xiamen University

                  Haiwei Jing, Xiamen University

                  Qinqin Zhang, Xiamen University

                  Hongjian Wang, Jinan University

                   

                  Financail Econometrics  N308

                  Tao Zeng, Zhejiang University

                   

                  Specification Tests based on MCMC Output

                  Yong Li, Renmin University of China

                  Jun Yu, Singapore Management University

                  Tao Zeng, Zhejiang University

                   

                  Systemic Risk Measures Evaluation and Application

                  Guojin Chen, Xiamen University

                  Yanzhen Liu, Xiamen University

                   

                  Implied Cost of Capital versus Fundamental Valuation Efficiency: A Clarification and Empirical Implications

                  C.S. Agnes Cheng, Hong Kong Polytech University

                  Jing Fang, Hong Kong Polytech University

                   

                  Modeling and forecasting jumps in returns by realized variation measures

                  Yi Liu, Hunan University

                  Huifang Liu, Hunan University

                  Lei Zhang, Hunan University

                   

                  Discussant:

                  Yanzhen Liu, Xiamen University

                  Jing Fang, Hong Kong Polytech University

                  Huifang Liu, Hunan University

                  Tao Zeng, Zhejiang University

                   

                  Saturday, June 23, 2018, 13:15 pm – 14:00 pm

                  Keynote Speech III  N302 (Chair: Kuo Zhang)

                  Stock Connect

                  Kalok Chan, The Chinese University of Hong Kong

                  Saturday, June 23, 2018, 14:00 pm – 15:30 pm

                  Corporate Investment     N301

                  Ming Gu, Xiamen University

                   

                  Information asymmetry and credit rating: A quasi-natural experiment from China

                  Xiaolu Hu, RMIT University

                  Rachel Huang, RMIT University

                  Zheyao Pan, Macquarie University

                  Jing Shi, Macquarie University

                   

                  Margin Trading and Corporate Investments:  Evidence from a Quasi-natural Experiment in China

                  G. Nathan Dong, Columbia University

                  Ming Gu, Xiamen University

                  Weiwei Huang, Renmin University of China

                  K.C. John Wei, Hong Kong Polytechnic University

                   

                  Do Social Connections Mitigate Hold-up? Evidence from Relation-Specific Investment and Innovation in Vertical Relationships

                  Sudipto Dasgupta, Chinese University of Hong Kong, Lancaster University and CEPR

                  Kuo Zhang, Xiamen University

                  Chenqi Zhu, New York University

                   

                  Institutional Multiple Holdings and Corporate Innovation

                  Bin Qiu, Missouri Western State University

                   

                  Discussant:

                  Ming Gu, Xiamen University

                  Zheyao Pan, Macquarie University

                  Bin Qiu, Missouri Western State University

                  Kuo Zhang, Xiamen University

                   

                  Anomolies   N302

                  Qian Han, Xiamen University

                   

                  Book-to-Market Ratio and Inflexibility: The Effect of Unrecorded R&D Capital

                  Yuan Li, University of Cambridge

                   

                  Have We Explained the Accrual Anomaly? An Evaluation Based on the Decomposition Method

                  Zhuo Huang, Peking University

                  Dawei Lin, Peking University

                  Zhimin Qiu, Peking University

                   

                  That is not my dog: why doesn’t the log dividend-price ratio seem to predict future log returns or log dividend growth?

                  Philip H. Dybvig, Washington University in Saint Louis

                  Huacheng Zhang, Southwest University of Finance and Economics

                   

                  Dissecting the Effectiveness of Firm Financial Strength in Predicting Chinese Stock Market

                  Fuwei Jiang, Central University of Finance and Economics

                  Fujing Jin, Central University of Finance and Economics

                  Guohao Tang, Hunan University

                   

                  Discussant:

                  Zhimin Qiu, Peking University

                  Huacheng Zhang, Southwest University of Finance and Economics

                  Fujing Jin, Central University of Finance and Economics

                  Yuan Li, University of Cambridge

                   

                  Stock Returns    N303 

                  Lei Zhao, ESCP Europe

                   

                  Loss Probability and the Cross Section of Expected Stock Returns

                  Ji Cao, Nankai University

                  Marc Oliver Rieger, University of Trier

                  Lei Zhao, ESCP Europe

                   

                  Medical Innovation, Labor Productivity, and the Cross Section of Stock Returns

                  Tong Zhou, Sun Yat-Sen University

                   

                  Profitability, Asset Investment, and Aggregate Stock Returns

                  Timothy K. Chue, Hong Kong Polytechnic University

                  Jin Xu, Hong Kong Polytechnic University

                   

                  Model Selection, Idiosyncratic Volatility, and Stock Returns

                  Chengbo Fu, University of Manitoba

                  Gady Jacoby, University of Manitoba

                  Lei Lu, University of Manitoba

                   

                  Discussant:

                  Tong Zhou, Sun Yat-Sen University

                  Jin Xu, Hong Kong Polytechnic University

                  Chengbo Fu, University of Manitoba

                  Lei Zhao, ESCP Europe

                   

                  Saturday, June 23, 2018, 16:00 pm – 17:30 pm

                  China Economy  N301

                  Weiyi Cai, Xiamen University

                   

                  Forecasting China's economic growth by deep learning what macroeconomic news says

                  Tiejun Wang, Minnan Normal University

                  Zhengyu Liu, Minnan Normal University

                  Yaqin Pan, Minnan Normal University

                   

                  The Time Series Fluctuation and Regional Difference of Growth Quality in China's Financial Industry

                  Rongrong Shi, Northwest University

                  Baoping Ren, Northwest University

                  Lu Lu, Northwest University

                   

                  Does loan growth lead to insolvency? Evidence from Greater China region

                  Farrukh Shahzad, Chongqing University

                  Jing Lu, Chongqing University

                  Zeeshan Fareed, Zhongnan University of Economics and Law

                   

                  Tigers and Flies: Discretion and Expertise in the Chinese Anti-corruption Campaign

                  Philip H. Dybvigy, Washington University in Saint Louis

                  Yishu Fu, Southwestern University of Finance and Economics

                   

                  Discussant:

                  Rongrong Shi, Southeast University

                  Farrukh Shahzad, Chongqing University

                  Yishu Fu, Southwestern University of Finance and Economics

                  Tiejun Wang, Minnan Normal University

                   

                  Asset Pricing II  N302

                  Junye Li, ESSEC Business School

                   

                  Option-Implied Variance Asymmetry and the Cross-Section of Stock Returns

                  Tao Huang, Xi'an Jiaotong-Liverpool University

                  Junye Li, ESSEC Business School

                   

                  Bid and Ask Prices of Index Put Options: Who Tell the Truth of Underlying Stock Return

                  Jian Chen, Xiamen University

                  Yangshu Liu, Xiamen University

                   

                  Bad Volatility is not always Bad: Evidence from Commodity Markets

                  Yahua Xu, Central South University

                  Tai-yong Roh, Auckland University of Technology

                   

                  Solving asset pricing models via nonparametric two stage penalized b-spline regression

                  Yongmiao Hong, Cornell University, Xiamen University

                  Yingxing Li, Xiamen University

                   

                  Discussant:

                  Yangshu Liu, Xiamen University

                  Yahua Xu, Central South University

                  Junye Li, ESSEC Business School

                   

                  Fund Activism   N303

                  Li Zhang, Nanyang Technological University

                   

                  The beta anomaly and mutual fund performance

                  Paul Irvine, Texas Christian University

                  Jeong Ho (John) Kim, Emory University

                  Jue Ren, Texas Christian University

                   

                  Do mutual funds exit when they win contentious votes at shareholder meetings?

                  Li Zhang, Nanyang Technological University

                   

                  The Economic Consequences of Mutual Fund Advisory Misconduct

                  Kai Wu, Cornell University

                   

                  Is the Active Fund Management Industry Concentrated Enough?

                  David Feldman, University of New South Wales

                  Konark Saxena, University of New South Wales

                  Jingrui Xu, Xiamen University

                   

                  Discussant:

                  Li Zhang, Nanyang Technological University

                  Kai Wu, Cornell University

                  Jingrui Xu, Xiamen University

                  Jue Ren, Texas Christian University

                  Sunday, June 24, 2018, 8:30 am – 10:00 am

                  Keynote Speech IV  N302 (Chair: Jingrui Xu)

                  Women on Boards: The Superheroes of Tomorrow? 

                  Renee Adams, The University of New South Wales

                   

                  Keynote Speech V    N302 (Chair: Haiqiang Chen)

                  Useless Factors

                  Raymond Kan, University of Toronto

                  Sunday, June 24, 2018, 10:30 am – 12:00 noon

                  Asset Pricing III N301

                  Yang Gao, The University of Sydney

                   

                  Information Percolation, The 52-Week High, and Short-Term Reversal in Stock Returns

                  Zhaobo Zhu, Shenzhen Audencia Business School - Shenzhen University

                  Licheng Sun, Old Dominion University

                  Chris Stivers, University of Louisville

                  Kai Zhang, Shenzhen Audencia Business School - Shenzhen University

                   

                  Investing with cryptocurrencies - A liquidity constrained investment approach

                  Simon Trimborn, National University of Singapore

                  Mingyang Li, Xiamen University

                  Wolfgang Karl Härdle, Humboldt-Universität zu Berlin, Singapore Management University

                   

                  Partial Moment Momentum      

                  Yang Gao, The University of Sydney

                  Henry Leung, The University of Sydney

                  Stephen Satchell, The University of Sydney, University of Cambridge

                   

                  Estimating Order Imbalance Using Low-Frequency Data

                  JinGi Ha, Singapore Management University

                  Jianfeng Hu, Singapore Management University

                   

                  Discussant:

                  Mingyang Li, Xiamen University

                  Yang Gao, The University of Sydney

                  Jianfeng Hu, Singapore Management University

                  Zhaobo Zhu, Shenzhen Audencia Business School - Shenzhen University

                   

                  Macro Finance  N302

                  Shugeng Dai, Xiamen University

                   

                  Research on the Dynamic Correlation between RMB Exchange Rate and Short-term Capital Flow

                  Shugeng Dai, Xiamen University

                  Bo Yu, Xiamen University

                   

                  Foreign Reserves, Bilateral Currency Swap and Liquidity Shock

                  Quan Yang, Xiamen University

                  Qiuju Yang, Xiamen University

                   

                  Mortgage Receivable Delay Risk: Evaluation and Securitization

                  Chao Ma, Xiamen University

                  Hao Zhang, Country Garden Asset Management Company

                  Hongbiao Zhao, Shanghai University of Finance and Economics

                   

                  The Effect of GSE Mortgage Purchases on Lenders’ Screening Incentives

                  Jun Lu, Central University of Finance and Economics

                  Zhen Shi, Georgia State University

                  Wei Yu, California State Polytechnic University

                   

                  Discussant:

                  Qiuju Yang, Xiamen University

                  Chao Ma, Xiamen University

                  Jun Lu, Central University of Finance and Economics

                  Shugeng Dai, Xiamen University

                   

                  Credit Allocation      N303

                  Xiang Li, Tsinghua University

                   

                  Policy Uncertainty and Household Credit Access: Evidence from Peer-to-Peer Crowdfunding

                  Xiang Li, Tsinghua University

                  Bibo Liu, Tsinghua University

                  Xuan Tian, Tsinghua University

                   

                  When They Work with Women, Do Men Get All the Credit?

                  Shusen Qi, Xiamen University

                  Steven Ongena, University of Zurich, Swiss Finance Institute, KU Leuven and CEPR

                  Hua Cheng, Nankai University

                   

                  Peer Information on the Cost of Debt

                  Yangming Bao, Goethe University Frankfurt

                   

                  Bank Relationship, Covenant Enforcement and Creditor Control

                  Yong Kyu Gam, Southwestern University of Finance and Economics

                  Chunbo Liu, Southwestern University of Finance and Economics

                   

                  Discussant:

                  Shusen Qi, Xiamen University

                  Yangming Bao, Goethe University Frankfurt

                  Chunbo Liu, Southwestern University of Finance and Economics

                  Xiang Li, Tsinghua University

                   

                  Stakeholders      N308 

                  Yue Pan, Xiamen University

                   

                  Which corporate social deeds matter? Evidence from the motivated institutional ownership

                  Jiun-Lin Chen, Adelaide Business School

                  Wenbin Liao, Jiangxi University of Finance and Economics

                  Ping-Wen Sun, Jiangxi University of Finance and Economics

                   

                  Disclosure for Whom? The Value of CSR Report in China

                  Antai Li, Huazhong University of Science and Technology

                  Xinping Xia, Huazhong University of Science and Technology

                  Shen Xu, Huazhong University of Science and Technology

                  Xia Chen, Huazhong University of Science and Technology

                   

                  Large Customers and the Value of Firm Diversification

                  Zhenxu Tong, University of Exeter

                  Mengyu Wang, University of Exeter

                   

                  When Short Seller Meets Government Stakeholder: The Case of Corporate

                  Jingbo Luo, Jiangxi University of Finance and Economics

                  Xiaoran Ni, Xiamen University

                   

                  Discussant:

                  Antai Li, Huazhong University of Science and Technology

                  Zhenxu Tong, University of Exeter

                  Jingbo Luo, Jiangxi University of Finance and Economics

                  Wenbin Liao, Jiangxi University of Finance and Economics

                   

                  Sunday, June 24, 2018, 13:15 pm – 14:00 pm

                  Keynote Speech VI  N302 (Chair: Xiaoran Huang)

                  What is the impact of successful cyberattacks on target firms?

                  Jun-Koo Kang, Nanyang Technological University

                  Sunday, June 24, 2018, 14:00 pm – 15:30 pm

                  金融风险    N301

                  Yang Ji, Xiamen University

                   

                  扩张政策背景下政府隐性或有负债对经济增长的影响 ——基于对国有企业的隐性担保角度

                  Min Guo, University of International Business and Economics

                  Yixuan Duan, University of International Business and Economics

                   

                  促进金融稳定的国家治理体系建设研究

                  Guohua He, Wuhan University

                  Jing Tong, Wuhan University, Central South University of Forestry and Technology

                   

                  我国城市经济增长转型:投资驱动、债务风险与现金流增长

                  Shuang Qiu, Xiamen University

                   

                  高溢价并购的达摩克斯之剑:商誉与股价崩盘风险

                  Mingmao Deng, Shanghai University of International Business and Economics,

                  Shanghai University of Finance and Economics

                  Rong Lu, Shanghai University of Finance and Economics

                  Discussant:

                  Jing Tong, Wuhan University

                  Shuang Qiu, Xiamen University

                  Mingmao Deng, Shanghai University of International Business and Economics

                  Yixuan Duan, University of International Business and Economics

                   

                  Corporate Finance  N302

                  Juanjuan Huang, Xiamen University

                   

                  When is Cash King? International Evidence on the Value of Cash Across the Busines Cycle

                  Jiaxing You, Xiamen University

                  Ling Lin, University of Massachusetts

                  Juanjuan Huang, Xiamen University

                  Min Xiao, Xiamen University

                   

                  Does the disclosure of internal control deficiency matter for accrual quality under a weak institutional environment?

                  Kebin Deng, South China University of Technology

                  Fang Hu, Griffith University

                  Gary Tian, Macquarie University

                  Ziying Zhong, Guangdong University of Foreign Stuides

                   

                  Agency Conflicts, Institutional Quality, and Tax Aggressiveness

                  Iftekhar Hasan, Fordham University

                  Jing Xing, Shanghai Jiao Tong University

                  Hui Zhou, University of Melbourne

                   

                  MM命题: 重新思考

                  Dengta Chen, Xiamen University

                   

                  Does industrial policy affect the company's cash dividends?- Empirical findings based on China's capital market

                  Qingfeng Cai, Xiamen University

                  Yihui Chen, Xiamen University

                   

                  Discussant:

                  Kebin Deng, South China University of Technology

                  Hui Zhou, University of Melbourne

                  Dengta Chen, Xiamen University

                  Yihui Chen, Xiamen University

                  Juanjuan Huang, Xiamen University

                   

                  Asset Pricing IV  N303

                  Peilin Hsieh, Xiamen University

                   

                  Information Event Intensity and Stock Return Synchronicity: Evidence from Credit Rating Changes

                  Haoyu Gao, Central University of Finance and Economics

                  Junbo Wang, City University of Hong Kong

                  Junchao Xiao, The Hong Kong Polytechnic University

                   

                  Dynamic credit default swaps curves in a network topology

                  Xiu Xu, Soochow University

                  Cathy Yi-Hsuan Chen, Humboldt-Universität zu Berlin

                  Wolfgang Karl Härdle, Humboldt-Universität zu Berlin,Singapore Management University

                   

                  Evaluating the Impacts of Bond Pricing Misspecification on Forecasted Funding Ratio

                  Jing Li, Xi'an Jiaotong University

                   

                  Evaluating Consumption CAPM under Heterogeneous Preferences

                  Min Cui, Indiana University

                   

                  Discussant:

                  Xiu Xu, Soochow University

                  Jing Li, Xi'an Jiaotong University

                  Min Cui, Indiana University

                  Haoyu Gao, Central University of Finance and Economics

                   

                  Sunday, June 24, 2018, 16:00 pm – 17:30 pm

                   

                  Stock Market     N301

                  Yubo Liu, Xiamen University

                   

                  How Do the Media Influence Government Decisions? Evidence from Initial Public Offering Approval Decisions in China

                  Zhi Jin, Southwestern University of Finance and Economics

                  Gary Gang Tian, Macquarie University

                  Yanling Wu, Macquarie University

                   

                  Does Corporate Hedging Affect Firm Value? Evidence from the IPO Market

                  Zheng Qiao, Xiamen University

                  Chongwu Xia, Xiamen University

                  Lei Zhang, Nanyang Technological University

                   

                  Short Selling and Tax Avoidance

                  Yao Lu, Tsinghua University

                  Zhang Peng, Tsinghua University

                  Luyao Liu, Morgan Stanley

                   

                  Heterogeneity of institutional ownership and stock price delay

                  Jiun-Lin Chen, Adelaide Business School

                  Shih-Cheng Lee, Yuan-Ze University

                  Chien-Ting Lin, Deakin University

                  Pingwen Sun, Jiangxi University of Finance and Economics

                   

                  Discussant:

                  Chongwu Xia, Xiamen University

                  Zhang Peng, Tsinghua University

                  Pingwen Sun, Jiangxi University of Finance and Economics

                  Yanling Wu, Macquarie University

                   

                  Banking       N302

                  Stephanie Chan, Xiamen University

                   

                  Regulatory forbearance, CoCos, and Bank risk-shifting

                  Stephanie Chan, Xiamen University

                  Sweder van Wijnbergen, Universiteit van Amsterdam, Tinbergen Institute

                   

                  The Selection of Strategic Investors and Cost Efficiency of City Commercial Banks

                  Ye Guo, Xiamen University

                  Zhen Huang, Xiamen University

                  Ruoqi Yao, Xiamen University

                   

                  Bank-Firm distance and Private firms Financing

                  Shuoxun Zhang, Xiamen University

                  Xu Du, Xiamen University

                   

                  Move a Little Closer? Information Sharing and the Spatial Clustering of Bank Branches

                  Shusen Qi, Xiamen University

                  Ralph De Haas, EBRD and Tilburg University

                  Steven Ongena, University of Zurich, Swiss Finance Institute, KU Leuven and CEPR

                  Stefan Straetmans, Maastricht University, University of Antwerp

                   

                  Discussant:

                  Zhen Huang, Xiamen University

                  Xu Du, Xiamen University

                  Shusen Qi, Xiamen University

                  Stephanie Chan, Xiamen University

                   

                  国际金融    N303

                  Wenbin Xu, Xiamen University

                   

                  人民币汇率与境内外股票市场波动溢出效应研究——基于三元BEKK-GARCH模型

                  Lihua Wu, Xiamen University

                  Lianbin Zeng, Xiamen University

                   

                  “人无贬基”日子里看“害怕浮动”的非对称性

                  Jianping Ding, Shanghai University of Finance and Economics

                  Hao Hu, Shanghai University of Finance and Economics

                  Wei Ye, Shanghai University of Finance and Economics

                   

                  新兴市场国家“二元悖论”现象成因探析——基于外汇储备积累视角

                  Kun Zhang, University of International Business and Economics

                  Mei Yu, University of International Business and Economics

                   

                  经常账户失衡、汇率安排与储备需求

                  Mengnan Zhu, Xiamen University

                  Chunyu Cao, Xiamen University

                   

                  Discussant:

                  Jianping Ding, Shanghai University of Finance and Economics

                  Kun Zhang, University of International Business and Economics

                  Chunyu Cao, Xiamen University

                  Lihua Wu, Xiamen University

                   

                   

                   

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