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