Summary of All Sessions |
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| # | Date/Time | Title/Location | Papers |
|---|---|---|---|
| 1 | July 1, 2026 18:30-20:30 | Conference Reception Location: Crowne Ballroom, 3/F, Crowne Plaza Beijing Zhongguancun Hotel | 0 |
| 2 | July 2, 2026 8:30-10:15 | Frontier in Risk Pricing and Disclosure Location: 1-100, Tsinghua PBCSF | 3 |
| 3 | July 2, 2026 8:30-10:15 | Regulation, Governance and Corporate Incentives Location: 1-200, Tsinghua PBCSF | 3 |
| 4 | July 2, 2026 8:30-10:15 | Micro Structure and AI Location: 1-306, Tsinghua PBCSF | 3 |
| 5 | July 2, 2026 10:30-12:15 | Financial Investment and Innovation Location: 1-100, Tsinghua PBCSF | 3 |
| 6 | July 2, 2026 10:30-12:15 | Behavioral Finance Location: 1-200, Tsinghua PBCSF | 3 |
| 7 | July 2, 2026 10:30-12:15 | Banking Location: 1-306, Tsinghua PBCSF | 3 |
| 8 | July 2, 2026 13:00-14:00 | Welcome Speech, Keynote Speech I (Neng Wang) and Best Paper Award Ceremony Location: 3-300, Tsinghua PBCSF | 0 |
| 9 | July 2, 2026 14:15-16:00 | Government Policy and Growth Location: 1-100, Tsinghua PBCSF | 3 |
| 10 | July 2, 2026 14:15-16:00 | Financial Policy and the Chinese Economy Location: 1-200, Tsinghua PBCSF | 3 |
| 11 | July 2, 2026 14:15-16:00 | Trade, Geopolitics, and Supply Chains Location: 1-306, Tsinghua PBCSF | 3 |
| 12 | July 2, 2026 16:15-18:00 | Machine Learning and AI Location: 1-100, Tsinghua PBCSF | 3 |
| 13 | July 2, 2026 16:15-18:00 | Empirical Financial Intermediation Location: 1-200, Tsinghua PBCSF | 3 |
| 14 | July 3, 2026 8:30-10:15 | 市场结构、信息机制与资本市场稳定（Chinese Session） Location: 1-306, Tsinghua PBCSF | 3 |
| 15 | July 3, 2026 8:30-10:15 | Monetary Policy, Inflation, and Financial Stability Location: 1-200, Tsinghua PBCSF | 3 |
| 16 | July 3, 2026 8:30-10:15 | Local Government and Firm Location: 1-100, Tsinghua PBCSF | 3 |
| 17 | July 3, 2026 10:30-12:15 | AI, FinTech, and Entrepreneurship Location: 1-100, Tsinghua PBCSF | 3 |
| 18 | July 3, 2026 10:30-12:15 | Chinese Market Anomalies Location: 1-200, Tsinghua PBCSF | 3 |
| 19 | July 3, 2026 10:30-12:15 | Theory Asset Pricing Location: 1-306, Tsinghua PBCSF | 3 |
| 20 | July 3, 2026 13:15-14:15 | Keynote Speech II (Min Zhu) Location: 3-300, Tsinghua PBCSF | 0 |
| 21 | July 3, 2026 14:30-16:15 | Special Session: New Data/Perspectives Location: 1-100, Tsinghua PBCSF | 3 |
| 22 | July 3, 2026 14:30-16:15 | Innovation, Intangibles, and Corporate Financing Location: 1-200, Tsinghua PBCSF | 3 |
| 23 | July 3, 2026 14:30-16:15 | 政府金融、地方激励与资本配置（Chinese Session） Location: 1-306, Tsinghua PBCSF | 3 |
23 sessions, 60 papers, and 0 presentations with no associated papers |
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China Financial Research Conference |
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Detailed List of Sessions |
| Session 1: Conference Reception July 1, 2026 18:30 to 20:30 Location: Crowne Ballroom, 3/F, Crowne Plaza Beijing Zhongguancun Hotel |
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| Session 2: Frontier in Risk Pricing and Disclosure July 2, 2026 8:30 to 10:15 Location: 1-100, Tsinghua PBCSF |
| Session Chair: Bing Han, University of Toronto |
| Climate Risk Disclosures: Risk Exposure or Enhanced Transparency |
| By Dong Ding; Hefei University of Technology |
| Presented by: Dong Ding, Hefei University of Technology |
| Discussant: Zhenyu Gao, The Chinese University of Hong Kong |
| Sticky Disaster Risk Expectations and Narrative Managed Portfolios |
| By Fuwei Jiang; Xiamen University Bowen Xue; University of Chinese Academy of Sciences Hong Yan; Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University Jianhao Zhan; Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
| Presented by: Bowen Xue, University of Chinese Academy of Sciences |
| Discussant: Wu Zhu, Tsinghua University |
| Geopolitical Risk and Stock Returns |
| By Jinfei Sheng; University of California, Irvine Zheng Sun; University of California, Irvine Qiguang Wang; Hong Kong Baptist University |
| Presented by: Jinfei Sheng, University of California, Irvine |
| Discussant: Yan Qian, Central University of Finance and Economics |
| Session 3: Regulation, Governance and Corporate Incentives July 2, 2026 8:30 to 10:15 Location: 1-200, Tsinghua PBCSF |
| Session Chair: Jean Chen, University of Kent |
| When Shareholder Protection Hurts: Shareholder Governance, Debt Overhang, and Bond Pricing |
| By Chang Li; School of Economics and Mangement, East China Normal University Wei Li; University of International Business and Economics Yi Xue; University of International Business and Economics |
| Presented by: Wei Li, University of International Business and Economics |
| Discussant: Si Zhou, University of Science and Technology Beijing |
| Regulatory Learning and Deterrence in IPO Oversight: Spillover Effects from Randomized On-Site Inspections |
| By Deqiu Chen; University of International Business and Economics Dan Wang; University of International Business and Economics Fei Xie; University of Delaware Ting Xu; Shandong University of Finance and Economics |
| Presented by: Fei Xie, University of Delaware |
| Discussant: Deborah Lucas, Massachusetts Institute of Technology |
| Measuring Financial Subsidies to SOEs: A New Asset Return-Based Framework |
| By Márcio Garcia; PUC-Rio Deborah Lucas; Massachusetts Institute of Technology Tiago Solberg; University of Minnesota |
| Presented by: Deborah Lucas, Massachusetts Institute of Technology |
| Discussant: Kang Shi, Tsinghua University |
| Session 4: Micro Structure and AI July 2, 2026 8:30 to 10:15 Location: 1-306, Tsinghua PBCSF |
| Session Chair: Liyan Yang, University of Toronto |
| The Private Enforcer: Algorithmic Deterrence and the Shadow Tax on Insider Trading |
| By Ruoran Lai; Sun Yat-Sen University Tingyi Lin; Central University of Finance and Economics Weiyu Qi; The University of Chicago Karl Yu; Boston College |
| Presented by: Tingyi Lin, Central University of Finance and Economics |
| Discussant: Siguang Li, The Hong Kong University of Science and Technology (Guangzhou) |
| Costly Inexpensive Information: Endogenous Competition for Attention and Corporate (In)efficiency |
| By Jianjun Miao; Zhejiang University Zhiqiang Ye; Zhejiang University Minxing Zhu; Zhejiang University |
| Presented by: Zhiqiang Ye, Zhejiang University |
| Discussant: Zhigang Qiu, Renmin University of China |
| Financial Market Fragility in the Era of AI Planning |
| By Winston Dou; University of Pennsylvania Itay Goldstein; University of Pennsylvania and NBER Yan Ji; The Hong Kong University of Science and Technology |
| Presented by: Yan Ji, The Hong Kong University of Science and Technology |
| Discussant: Haotian Xiang, Peking University |
| Session 5: Financial Investment and Innovation July 2, 2026 10:30 to 12:15 Location: 1-100, Tsinghua PBCSF |
| Session Chair: Bohui Zhang, The Chinese University of Hong Kong, Shenzhen |
| The Externalities of Foreign Investor Disclosurev |
| By Jiangze Bian; University of International Business and Economics Bing Han; University of Toronto Qilin Qin; Renmin University of China Jun Wang; Baruch College |
| Presented by: Bing Han, University of Toronto |
| Discussant: Maggie Hu, Baruch College |
| Unveiling the role of rational inattention: Tax incentives and participation in commercial pension insurance |
| By Zheng Chen; Guangdong University of Technology Jia Huang; Sun Yat-sen University |
| Presented by: Zheng Chen, Guangdong University of Technology |
| Discussant: Jian Zhang, The University of Hong Kong |
| Intellectual Property Financing, Innovation, and Aggregate TFP |
| By Zhiyuan Chen; Renmin University of China Guanliang Hu; City University of Hong Kong. |
| Presented by: Zhiyuan Chen, Renmin University of China |
| Discussant: Zhongzhi Song, Shanghai Jiao Tong University |
| Session 6: Behavioral Finance July 2, 2026 10:30 to 12:15 Location: 1-200, Tsinghua PBCSF |
| Session Chair: Darwin Choi, The Hong Kong University of Science and Technology |
| FinTech Brings a Bias from Psychology Labs to a Two-trillion-dollar Market |
| By Hongjun Yan; DePaul University Zhengwei Wang; Tsinghua University Yulai Yuan; Xuanyuan Insurance Agency Co., Ltd Xiaole Qiu; Tsinghua University Jia Xiang; Tsinghua University Yaqing Xiao; Capital University of Economics and Business Erik Davidson; Baylor University |
| Presented by: Hongjun Yan, DePaul University |
| Discussant: Roger Loh, Nanyang Technological University |
| Beta for Alpha: Neural Engagement in High-Stakes Economic Decisions |
| By Liang Chen; East China University of Science and Technology Tse-Chun Lin; University of Hong Kong Fei Wu; Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University Xingjian Zheng; Shanghai Jiao Tong University Eric Zhou |
| Presented by: Xingjian Zheng, Shanghai University of Finance and Economics |
| Discussant: Sing-Sen Lam, Sun Yat-sen University |
| The Two-System View of Cognition and Investor Choice |
| By Kai Li; University of British Columbia Yang Song; University of Washington Nianhang Xu; Renmin University of China Chunyu Zu; Communication University of China |
| Presented by: Chunyu Zu, Communication University of China |
| Discussant: Zhenyu Gao, The Chinese University of Hong Kong |
| Session 7: Banking July 2, 2026 10:30 to 12:15 Location: 1-306, Tsinghua PBCSF |
| Session Chair: Xingtan Zhang, Cheung Kong Graduate School of Business |
| Government Information Platforms and Bank Lending: Evidence from a Natural Experiment in China |
| By Di Gong; University of International Business and Economics Difang Huang; The University of Hong Kong Roni Michaely; The University of Hong Kong YanXin Yu; University of International Business and Economics |
| Presented by: Di Gong, University of International Business and Economics |
| Discussant: Chang Ma, Fudan University |
| Emotions and Fund Flows: Evidence from Managers’ Live Streams |
| By Marcin Kacperczyk; Imperial College Mingrui Liu; Central University of Finance and Economics Tianyu Wang; Tsinghua University Xueyong Zhang; Central University of Finance and Economics |
| Presented by: Mingrui Liu, Central University of Finance and Economics |
| Discussant: Si Cheng, Syracuse University |
| Bank Ownership as a Political Instrument: Evidence from Chinese Local Governments |
| By Yichen Wang; Shanghai Jiao Tong University |
| Presented by: Yichen Wang, Shanghai Jiao Tong University |
| Discussant: Zhuo Chen, Tsinghua University |
| Session 8: Welcome Speech, Keynote Speech I (Neng Wang) and Best Paper Award Ceremony July 2, 2026 13:00 to 14:00 Location: 3-300, Tsinghua PBCSF |
| Session 9: Government Policy and Growth July 2, 2026 14:15 to 16:00 Location: 1-100, Tsinghua PBCSF |
| Session Chair: Yong Wang, Peking University |
| The Fiscal Roots of China's Unbalanced Growth |
| By Roger Gordon; UCSD Wei Li; Cheung Kong GSB Dan Su; Cheung Kong Graduate School of Business Yi Zhou; Cheung Kong Graduate School of Business |
| Presented by: Yi Zhou, Cheung Kong Graduate School of Business |
| Discussant: Lijun Zhu, Peking University |
| When to Push? Market Forces, Government Intervention, and the Optimal Timing of Industrial Policy |
| By Xuewen Liu; The University of Hong Kong Jianhuan Xu; Singapore Management University |
| Presented by: Xuewen Liu, The University of Hong Kong |
| Discussant: Xican Xi, Fudan University |
| Truncating the Tail: Wage Caps and the Human Capital Pipeline in Finance |
| By Qin Chen; MetroData Zibin Huang; Shanghai University of Finance and Economics Mengyuan Wang; Shanghai University of Finance and Economics Wenjian Xu; Shanghai Jiao Tong University |
| Presented by: Wenjian Xu, Shanghai Jiao Tong University |
| Discussant: Binzhen Wu, Tsinghua University |
| Session 10: Financial Policy and the Chinese Economy July 2, 2026 14:15 to 16:00 Location: 1-200, Tsinghua PBCSF |
| Session Chair: Jeffery (Jinfan) Chang, The Chinese University of Hong Kong, Shenzhen |
| The Real Effects of Bankruptcy Reform |
| By Jake Zhao; Peking University HSBC Business School Shijie Zhao; Peking University HSBC Business School |
| Presented by: Jake Zhao, Peking University HSBC Business School |
| Discussant: Zehao Liu, Renmin University of China |
| How Exchange Rate Variability Affects Trade: Micro Evidence from a Cross-Border E-commerce Platform |
| By Jiandong Ju; Tsinghua University Shu Lin; The Chinese University of Hong Kong Yujia Yang; Central University of Finance and Economics and Tsinghua University |
| Presented by: Yujia Yang, Central University of Finance and Economics and Tsinghua University |
| Discussant: Chang Ma, Fudan University |
| Monetary Policy Uncertainty and Retrenchment of Liquidity Provision within Supply Chains: Evidence from China |
| By Haozhe Han; Tianjin Unviersity Xingjian Wang; Capital University of Economics and Business Chi Yao; Shanghai University of International Business and Economics |
| Presented by: Xingjian Wang, Capital University of Economics and Business |
| Discussant: Ji Shen, Peking University |
| Session 11: Trade, Geopolitics, and Supply Chains July 2, 2026 14:15 to 16:00 Location: 1-306, Tsinghua PBCSF |
| Session Chair: Yu Zhang, Guanghua School of Management, Peking University |
| The Geoeconomics of Imports: Evidence from UN Security Council Elections |
| By Yanduo Chen; Singapore Management University Jing Wu; The Chinese University of Hong Kong |
| Presented by: Yanduo Chen, Singapore Management University |
| Discussant: Mancy Luo, Bayes Business School (formerly Cass) |
| Using Global Shocks to Understand the Level and Structure of Executive Compensation |
| By David Hummels; Purdue University Jakob Munch; University of Copenhagen Huilin Zhang; Purdue University |
| Presented by: Huilin Zhang, Purdue University |
| Discussant: Zexi Wang, Lancaster University |
| Is Carbon Emission Risk Priced in Supply Chains? |
| By Chenyu Shan; Shanghai University of Finance and Economics Yongjun Tang; University of Hong Kong Qian Zheng; Shanghai University of Finance and Economics |
| Presented by: Qian Zheng, Shanghai University of Finance and Economics |
| Discussant: Yilin Shi, The Chinese University of Hong Kong |
| Session 12: Machine Learning and AI July 2, 2026 16:15 to 18:00 Location: 1-100, Tsinghua PBCSF |
| Session Chair: Kai Li, Tsinghua University |
| Machine Learning Meets Markowitz |
| By Yijie Wang; Tongji University Hao Gao; Tsinghua University Campbell Harvey; Duke University Yan Liu; Tsinghua University Xinyuan Tao; New Jersey Institute of Technology |
| Presented by: Yijie Wang, Tongji University |
| Discussant: Gavin Feng, City University of Hong Kong |
| Public Risk Reduction and Private Protection: Evidence from High-Speed Rail in China |
| By SUMIT Agarwal; National University of Singapore Yeow Hwee Chua; Nanyang Technological University Jia He; Nankai University Bingqing Li; Nankai University Xiyao Qin; Nankai University |
| Presented by: Yeow Hwee Chua, Nanyang Technological University |
| Discussant: Yujing Ma, Hong Kong Polytechnic University |
| Does Unequal Access to Generative AI Fuel Information Inequality? Evidence from China’s Stock Connect Programs |
| By Hongyi Qu; Chongqing University School of Economics and Business Administration Yuhang Qiu; School of Management, Xiamen University Cheng Xiang; School of Economics and Business Administration, Chongqing University Qingbo Yuan; University of Melbourne |
| Presented by: Cheng Xiang, Chongqing University |
| Discussant: Jinfei Sheng, University of California, Irvine |
| Session 13: Empirical Financial Intermediation July 2, 2026 16:15 to 18:00 Location: 1-200, Tsinghua PBCSF |
| Session Chair: Jun Qian, Fudan University |
| Too Many Cooks Spoil the Broth: Competition and the Corruption of Information by Dual-Role Intermediaries |
| By Jiajun Jiang; Fudan University Shuo Liu; Peking University Yu-Jane Liu; Peking University Ruichang Lu; Peking University |
| Presented by: Ruichang Lu, Peking University |
| Discussant: Zehao Liu, Renmin University of China |
| Open Data and Financial Market Quality |
| By Lin Cong; Nanyang Technological University Siguang Li; The Hong Kong University of Science and Technology (Guangzhou) Mingzhe Zheng; The Hong Kong University of Science and Technology (Guangzhou) |
| Presented by: Mingzhe Zheng, The Hong Kong University of Science and Technology (Guangzhou) |
| Discussant: Zhongchao Yang, Wuhan University |
| Deposit Insurance for Wholesale Creditors: The Role of Liquidity Injection |
| By Chong Huang; University of California, Irvine Lin Shen; INSEAD Junyuan Zou; INSEAD |
| Presented by: Junyuan Zou, INSEAD |
| Session 14: 市场结构、信息机制与资本市场稳定（Chinese Session） July 3, 2026 8:30 to 10:15 Location: 1-306, Tsinghua PBCSF |
| Session Chair: Yu-Jane Liu, Peking University |
| 数字平台注意力配置与资本市场效率 ——基于微博热搜的经验证据 |
| By Xiong Xiong; Tianjin University Yumeng Zhang; Tianjin University Qingchong Chen; Tianjin University |
| Presented by: Qingchong Chen, Tianjin University |
| 监管科技化与企业股价崩盘风险：基于交易所企业画像系统的研究 |
| By Lina Shi; Beihang University |
| Presented by: Lina Shi, Beihang University |
| 做市商制度与金融市场稳定——来自科创板做市商试点的准自然实验 |
| By Shu Xu; Peking University Ruoxuan Yao Yandi Zhu; Central University of Finance and Economics |
| Presented by: Shu Xu, Peking University |
| Session 15: Monetary Policy, Inflation, and Financial Stability July 3, 2026 8:30 to 10:15 Location: 1-200, Tsinghua PBCSF |
| Session Chair: Changhua Yu, Peking University |
| The Perils of Bubbly Capital Flows |
| By Feng Dong; Tsinghua University Yang Jiao; Singapore Management University Haoning Sun; Tsinghua University |
| Presented by: Haoning Sun, Tsinghua University |
| Discussant: Le Xu, Shanghai Jiao Tong University |
| Stochastic Volatility, Credit Booms, and Sudden Stops |
| By Xiangyu Ding; The University of Hong Kong Xiang Fang; The University of Hong Kong Yang Liu; The University of Hong Kong |
| Presented by: Xiangyu Ding, The University of Hong Kong |
| Discussant: Zongxin Qian, Renmin University of China |
| A Reference-Dependent Fiscal Theory of Self-Fulfilling Price Levels |
| By Zhaorui Li; HKUST Xuewen Liu; The University of Hong Kong Thomas Sargent; New York University and Peking University HSBC Business School Pengfei Wang; Peking University |
| Presented by: Zhaorui Li, Shanghai Jiao Tong University |
| Discussant: Huancheng Du, Central University of Finance and Economics |
| Session 16: Local Government and Firm July 3, 2026 8:30 to 10:15 Location: 1-100, Tsinghua PBCSF |
| Session Chair: Kaiji Chen, Emory University |
| When the State Turns Down the Power: Administrative Power Rationing and Firm Production in China |
| By Zhuo Chen; Tsinghua University Luoming Liang; The Chinese University of Hong Kong Xinyu Sun; Tsinghua University |
| Presented by: Zhuo Chen, Tsinghua University |
| Discussant: Zhe Geng, Fudan University |
| The LGFV Puzzle and Market-Implied Support Beliefs |
| By Jingzhi Huang; Pennsylvania State University Zhengang Zhang; Pennsylvania State University |
| Presented by: Zhengang Zhang, Pennsylvania State University |
| Discussant: Haoyu Gao, Renmin University of China |
| When the State Delays Payments: Government Liquidity Shock and Firm Behavior in China |
| By Bencheng Wang; Peking University |
| Presented by: Bencheng Wang, Peking University |
| Discussant: Jiayin Hu, Peking University |
| Session 17: AI, FinTech, and Entrepreneurship July 3, 2026 10:30 to 12:15 Location: 1-100, Tsinghua PBCSF |
| Session Chair: Xiaoyun Yu, Shanghai Jiao Tong University |
| How Human–Machine Collaboration Reshapes Gender Disparities in Credit Decisions — Evidence From Auto Finance Leasing Transactions |
| By Yao Lu; Tsinghua University hanqing shi; tsinghua university Xinzheng Shi; Peking University Jian Sun; Singapore Management University Yanling SUN; Politecnico di Milano |
| Presented by: Hanqing SHI, Tsinghua University |
| Discussant: Jiayin Hu, Peking University |
| Financing via Partially Liquid Tokens |
| By Dan Luo; The Chinese University of Hong Kong Evgeny Lyandres; Tel Aviv University Yizhou Xiao; The Chinese University of Hong Kong |
| Presented by: Dan Luo, The Chinese University of Hong Kong |
| Discussant: John (Jianqiu) Bai, Northeastern University |
| AI-as-Cofounder: Generative AI for Entrepreneurship |
| By Junhui Cai; University of Notre Dame Xian Gu; Durham University Liugang Sheng; The Chinese University of Hong Kong Mengjia Xia; University of Pennsylvania Linda Zhao; University of Pennsylvania Wu Zhu; Tsinghua University |
| Presented by: Wu Zhu, Tsinghua University |
| Discussant: Nancy Xu, University of Cambridge |
| Session 18: Chinese Market Anomalies July 3, 2026 10:30 to 12:15 Location: 1-200, Tsinghua PBCSF |
| Session Chair: Roger Loh, Nanyang Technological University |
| Cross-Asset Pre-Announcement Premia in China |
| By Yizhong Wang; Zhejiang University Zhe Wang; Zhejiang University Qi Xu; Zhejiang University |
| Presented by: Qi Xu, Zhejiang University |
| Discussant: Zhuo Zhong, University of Melbourne |
| Model-Based Cross-Section Factors in Corporate Bonds |
| By Zhe Geng; Fudan University Jun Pan; Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
| Presented by: Zhe Geng, Fudan University |
| Discussant: Xiaoliang Wang, The Hong Kong University of Science and |
| Earnings Announcement Drifts in China |
| By Yu-Jane Liu; Peking University Ying Yu; Tsinghua University Xiaoyan Zhang; Tsinghua University Xinran Zhang; Central University of Finance and Econom |
| Presented by: Ying Yu, Tsinghua University |
| Discussant: Shiheng Wang, The Hong Kong University of Science and Technology |
| Session 19: Theory Asset Pricing July 3, 2026 10:30 to 12:15 Location: 1-306, Tsinghua PBCSF |
| Session Chair: Hengjie Ai, University of Wisconsin |
| Ideological Customer Capital: Measurement and Asset Pricing Implications |
| By Winston Dou; University of Pennsylvania Yan Ji; The Hong Kong University of Science and Technology David Reibstein; University of Pennsylvania Di Tian; Hong Kong University of Science and Technology |
| Presented by: Di Tian, Hong Kong University of Science and Technology |
| Discussant: Jun Li, University of Warwick |
| Model-free ESG Frontier |
| By Kai Li; Peking University and Tsinghua University Bo Sun; Peking University |
| Presented by: Kai Li, Tsinghua University |
| Discussant: Yu An, Johns Hopkins University |
| Macro Risk Premia and the Business Cycle |
| By Zhiwei Su; Lingnan University |
| Presented by: Zhiwei Su, Lingnan University |
| Discussant: Qiushi Huang, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
| Session 20: Keynote Speech II (Min Zhu) July 3, 2026 13:15 to 14:15 Location: 3-300, Tsinghua PBCSF |
| Session 21: Special Session: New Data/Perspectives July 3, 2026 14:30 to 16:15 Location: 1-100, Tsinghua PBCSF |
| Session Chair: Charles Cao, The Chinese University of Hong Kong Shenzhen |
| Bridging Structured Knowledge and Data: A Unified Framework with Finance Applications |
| By Yi Cao; Xi'an Jiaotong-Liverpool University Zexun Chen; University of Edinburgh Business School Lin William Cong; Cornell University Heqing Shi; University of Edinburgh |
| Presented by: Heqing Shi, University of Edinburgh |
| Discussant: Yanchu Liu, Sun Yat-sen University |
| Stablecoin Flows, Dollar Convenience Yields and Exchange Rate |
| By Shiyang Huang; The University of Hong Kong Dong Lou; Hong Kong University of Science and Technology Zhenghan Shao; Tsinghua University tianyu wang; Tsinghua University |
| Presented by: Zhenghan Shao, Tsinghua University |
| Discussant: Zefeng Chen, Peking University |
| What to Believe on Social Media Platforms? The Importance of Consistency Between Words and Actions |
| By Zhuo Chen; Nanjing University Honghai Yu; Nanjing University Yunmiao Zhang; Nanjing University Guofu Zhou; Washington University in St. Louis |
| Presented by: Zhuo Chen, Nanjing University |
| Discussant: Jinyu Liu, University of International Business and Economics |
| Session 22: Innovation, Intangibles, and Corporate Financing July 3, 2026 14:30 to 16:15 Location: 1-200, Tsinghua PBCSF |
| Session Chair: Haoyu Gao, Renmin University of China |
| Intertemporal Bridging: How Patent Pledgeability Shapes Corporate Tax Planning |
| By Run Li; Xiamen University Xiaoran Ni; Central University of Finance and Economics David Yin; Miami University |
| Presented by: Xiaoran Ni, Central University of Finance and Economics |
| Discussant: Daxuan Zhao, Renmin University of China |
| Innovations and (Shocks to) Industry-Academia Collaboration |
| By Anqi Jiao; Capital University of Economics and Business Evgeny Lyandres; Tel Aviv University Honglin Ren; Renmin University of China |
| Presented by: Honglin Ren, Renmin University of China |
| Discussant: Tong Zhou, Southern University of Science and Technology |
| Picking Winners, Reshaping Competition: Project-Based Industrial Policy and Strategic Innovation Shifting |
| By Keyan Liu; Peking University Laura Xiaolei Liu; Peking University Ji Shen; Peking University |
| Presented by: Keyan Liu, Peking University |
| Discussant: Difang Huang, Chinese Academy of Sciences |
| Session 23: 政府金融、地方激励与资本配置（Chinese Session） July 3, 2026 14:30 to 16:15 Location: 1-306, Tsinghua PBCSF |
| Session Chair: Nianhang Xu, Renmin University of China |
| 政府引导基金的本地投资偏好与绩效——基于基金返投比例条款的微观证据 |
| By Yao Li; Shanghai University of Finance and Economics Xueqian Xu; Shanghai University of Finance and Economics |
| Presented by: Xueqian Xu, Shanghai University of Finance and Economics |
| Discussant: Hongxun Ruan, Peking University |
| 校准税收偏向激励：政府投资基金何以助力产能治理？ |
| By Zihui Lin; Huazhong University of Science and Technology 志帆 林; Beijing Normal University Zishen Tang; Beijing Normal University |
| Presented by: Zihui Lin, Huazhong University of Science and Technology |
| Discussant: Hongbo Pan, Wuhan University |
| 财政支持规范化与地方政府隐性债务治理： 基于中国城投债市场的大语言模型研究 |
| By Jianfeng An; Zhongnan University of Economics and Law |
| Presented by: Jianfeng An, Zhongnan University of Economics and Law |
| Discussant: Yongqin Wang, Fudan University |
This program was last updated on 2026-06-05 23:02:46 EDT