Summary of All Sessions |
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# | Date/Time | Title/Location | Papers |
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1 | July 6, 2022 8:00-9:45 | Behavioral Finance Location: Stream 1 | 4 |
2 | July 6, 2022 8:00-9:45 | Fintech Location: Stream 2 | 4 |
3 | July 6, 2022 8:00-9:45 | Fintech (with Cool Data and Models) Location: Stream 3 | 4 |
4 | July 6, 2022 8:00-9:45 | Firm Growth and Industry Competition Location: Stream 4 | 4 |
5 | July 6, 2022 8:00-9:45 | Household Finance Location: Stream 5 | 4 |
6 | July 6, 2022 8:00-9:45 | Information, Culture, and Corporate Decisions Location: Stream 6 | 4 |
7 | July 6, 2022 8:00-9:45 | Monetary Policy and Asset Markets Location: Stream 7 | 4 |
8 | July 6, 2022 8:00-9:45 | New Perspectives in Asset Pricing Location: Stream 8 | 4 |
9 | July 6, 2022 8:00-9:45 | Options and Other Derivatives Location: Stream 9 | 4 |
10 | July 6, 2022 10:15-12:00 | Keynote Speech (Lars Peter Hansen, University of Chicago) and Best Paper Awards Location: Stream 10 | 0 |
11 | July 6, 2022 13:00-14:45 | Anomalies Location: Stream 1 | 4 |
12 | July 6, 2022 13:00-14:45 | Banking, Credit Market, and Regulation Location: Stream 2 | 4 |
13 | July 6, 2022 13:00-14:45 | Corporate Finance Location: Stream 3 | 4 |
14 | July 6, 2022 13:00-14:45 | ESG Location: Stream 4 | 4 |
15 | July 6, 2022 13:00-14:45 | Finance, Labor and Politics Location: Stream 5 | 4 |
16 | July 6, 2022 15:15-17:00 | Asian Real Estate Markets Location: Stream 1 | 4 |
17 | July 6, 2022 15:15-17:00 | Banking Competition and Informational Frictions Location: Stream 2 | 4 |
18 | July 6, 2022 15:15-17:00 | Corporate Bond Market and Investment in China Location: Stream 3 | 4 |
19 | July 6, 2022 15:15-17:00 | ESG, Firm Behavior and Market Performance Location: Stream 4 | 4 |
20 | July 6, 2022 15:15-17:00 | Sovereign Risk and Currency Returns Location: Stream 5 | 4 |
21 | July 6, 2022 15:15-17:00 | Stock, Bond, and Commodity Location: Stream 6 | 4 |
22 | July 7, 2022 8:00-9:45 | Asset Pricing Location: Stream 1 | 4 |
23 | July 7, 2022 8:00-9:45 | Attracting and Retaining Human Capital Location: Stream 2 | 4 |
24 | July 7, 2022 8:00-9:45 | Empirical Asset Pricing Location: Stream 3 | 4 |
25 | July 7, 2022 8:00-9:45 | Exchange Rates and International Macro-Finance Location: Stream 4 | 4 |
26 | July 7, 2022 8:00-9:45 | Market Microstructure: Theory and Evidence Location: Stream 5 | 4 |
27 | July 7, 2022 8:00-9:45 | New Advances in Equilibrium Asset Pricing Location: Stream 6 | 4 |
28 | July 7, 2022 8:00-9:45 | Politics, SOEs, and Corporate Policies Location: Stream 7 | 4 |
29 | July 7, 2022 8:00-9:45 | Social Finance Location: Stream 8 | 4 |
30 | July 7, 2022 8:00-9:45 | The FinTech Impact Location: Stream 9 | 4 |
31 | July 7, 2022 10:15-12:00 | Advances in FinTech and Machine Learning Location: Stream 1 | 4 |
32 | July 7, 2022 10:15-12:00 | Anomalies and Information Location: Stream 2 | 4 |
33 | July 7, 2022 10:15-12:00 | Asset Management Location: Stream 3 | 4 |
34 | July 7, 2022 10:15-12:00 | Corporate Finance: New Data and New Methods Location: Stream 4 | 4 |
35 | July 7, 2022 10:15-12:00 | Empirical Asset Pricing: Equity Returns Location: Stream 5 | 4 |
36 | July 7, 2022 10:15-12:00 | Frequent Auctions and Frequent Trading Location: Stream 6 | 4 |
37 | July 7, 2022 10:15-12:00 | Information-Related Behavior and Pricing and Other Outcomes Location: Stream 7 | 4 |
38 | July 7, 2022 10:15-12:00 | Mergers and Acquisitions Location: Stream 8 | 4 |
39 | July 7, 2022 10:15-12:00 | News, Stock Returns, and Bond Markets Location: Stream 9 | 4 |
40 | July 7, 2022 13:00-14:45 | Asset Pricing Theories Location: Stream 1 | 4 |
41 | July 7, 2022 13:00-14:45 | 中国金融问题 Location: Stream 2 | 4 |
42 | July 7, 2022 13:00-14:45 | Entrepreneurship, Venture Capital, and Small Business Location: Stream 3 | 4 |
43 | July 7, 2022 13:00-14:45 | Market Frictions and Anomalies Location: Stream 4 | 4 |
44 | July 7, 2022 13:00-14:45 | The Real Effects of Capital Markets Location: Stream 5 | 4 |
45 | July 7, 2022 15:15-17:00 | Asset Pricing Factors Location: Stream 1 | 4 |
46 | July 7, 2022 15:15-17:00 | Corporate Finance Theory Location: Stream 2 | 4 |
47 | July 7, 2022 15:15-17:00 | Financial Intermediation Location: Stream 3 | 4 |
48 | July 7, 2022 15:15-17:00 | Incentives and Governance Location: Stream 4 | 4 |
49 | July 8, 2022 8:00-9:45 | Connections and Finance Location: Stream 1 | 4 |
50 | July 8, 2022 8:00-9:45 | Finance and Politics Location: Stream 2 | 4 |
51 | July 8, 2022 8:00-9:45 | FinTech and Blockchains Location: Stream 3 | 4 |
52 | July 8, 2022 8:00-9:45 | Humans and Connections Location: Stream 4 | 4 |
53 | July 8, 2022 8:00-9:45 | Macro Finance and Policy Location: Stream 5 | 4 |
54 | July 8, 2022 8:00-9:45 | Options and Stocks Location: Stream 6 | 4 |
55 | July 8, 2022 8:00-9:45 | Retail Investor Behavior Location: Stream 7 | 4 |
56 | July 8, 2022 8:00-9:45 | Social Finance II Location: Stream 8 | 4 |
57 | July 8, 2022 8:00-9:45 | Understanding Mutual Fund Performance Location: Stream 9 | 4 |
58 | July 8, 2022 10:15-12:00 | Behavioral Biases and Investments Location: Stream 1 | 4 |
59 | July 8, 2022 10:15-12:00 | Capital Markets Location: Stream 2 | 4 |
60 | July 8, 2022 10:15-12:00 | Corporate Governance Location: Stream 3 | 4 |
61 | July 8, 2022 10:15-12:00 | Debt and Incentives Location: Stream 4 | 4 |
62 | July 8, 2022 10:15-12:00 | Financial Stability and Asset Management Location: Stream 5 | 4 |
63 | July 8, 2022 10:15-12:00 | Financing: Debt and Trade Credit Location: Stream 6 | 4 |
64 | July 8, 2022 10:15-12:00 | Foreign Exchange Risks Location: Stream 7 | 4 |
65 | July 8, 2022 10:15-12:00 | Information, Financial Markets, and Economy Location: Stream 8 | 4 |
66 | July 8, 2022 10:15-12:00 | Socially Responsible Investing Location: Stream 9 | 4 |
67 | July 8, 2022 13:00-14:45 | Delegated Portfolio Management Location: Stream 1 | 4 |
68 | July 8, 2022 13:00-14:45 | Household Finance: Advisors, Nudges, and Beliefs Location: Stream 2 | 4 |
69 | July 8, 2022 13:00-14:45 | Real Estate Markets Location: Stream 3 | 4 |
70 | July 8, 2022 13:00-14:45 | The Development of Chinese Firms and Banks Location: Stream 4 | 4 |
71 | July 8, 2022 13:00-14:45 | Valuing Human Capital and Corporate Finance Location: Stream 5 | 4 |
71 sessions, 280 papers, and 0 presentations with no associated papers |
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China International Conference in Finance 2022 (CICF) |
Detailed List of Sessions |
Session 1: Behavioral Finance July 6, 2022 8:00 to 9:45 Location: Stream 1 |
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Session Chair: Zhi Da, University of Notre Dame |
Attention Constraints and Financial Inclusion |
By Bo Huang; Renmin University of China Jiacui Li; University of Utah Tse-Chun Lin; The University of Hong Kong Mingzhu Tai; The University of Hong Kong Yiyuan Zhou; The University of Hong Kong |
presented by: Mingzhu Tai, The University of Hong Kong |
Discussant: Rawley Heimer, Boston College |
Social Contagion and the Survival of Diverse Investment Styles |
By David Hirshleifer; University of Southern California Andrew Lo; Massachusetts Institute of Technology Ruixun Zhang; Peking University |
presented by: Ruixun Zhang, Peking University |
Discussant: Alexander Chinco, Baruch College, The City University of New York |
Do Banks Overreact to Disaster Risk? |
By Qianqian Huang; City University of Hong Kong Feng Jiang; State University of New York at Buffalo Yuhai Xuan; University of California, Irvine Tao Yuan; Nanjing University |
presented by: Tao Yuan, Nanjing University |
Discussant: Yinan Su, Johns Hopkins University |
Seizing Opportunities: Small Businesses, Social Capital, and Banks |
By Liu Yang; University of Maryland |
presented by: Liu Yang, University of Maryland |
Discussant: Samuel Kruger, University of Texas at Austin |
Session 2: Fintech July 6, 2022 8:00 to 9:45 Location: Stream 2 |
Session Chair: Jingzhi Huang, Pennsylvania State University |
Cutting Operational Costs by Integrating Fintech into Traditional Banking Firms |
By Linda Allen; Baruch College, The City University of New York Yu Shan; Concordia University Yi Tang; Fordham University Alev Yildirim; Southern Connecticut State University |
presented by: Yu Shan, Concordia University |
Discussant: Baozhong Yang, Georgia State University |
Monitoring Fintech Firms: Evidence from the Collapse of Peer-to-Peer Lending Platforms |
By Xiao Chen; The Chinese University of Hong Kong, Shenzhen Maggie Hu; The Chinese University of Hong Kong Bohui Zhang; The Chinese University of Hong Kong, Shenzhen |
presented by: Maggie Hu, The Chinese University of Hong Kong |
Discussant: Jing Huang, University of Chicago |
Tax-Loss Harvesting with Cryptocurrencies |
By Lin William Cong; Cornell University Wayne Landsman; University of North Carolina Edward Maydew; University of North Carolina at Chapel Hill Daniel Rabetti; Tel Aviv University |
presented by: Daniel Rabetti, Tel Aviv University |
Discussant: Thomas Bourveau, Columbia University |
The Crumbling Wall between Crypto and Non-Crypto Markets: Risk Transmission through Stablecoins |
By Yiping Huang; National School of Development, Peking University Yang Ji; Xiamen University Juan Lin; Xiamen University Peng Wang; Xiamen University |
presented by: Peng Wang, Xiamen University |
Discussant: Henry Cao, Cheung Kong Graduate School of Business |
Session 3: Fintech (with Cool Data and Models) July 6, 2022 8:00 to 9:45 Location: Stream 3 |
Session Chair: Dacheng Xiu, University of Chicago |
Asset Pricing with Attention Guided Deep Learning |
By Ruslan Goyenko; McGill University |
presented by: Ruslan Goyenko, McGill University |
Discussant: Andreas Neuhierl, Washington University in St. Louis |
How Can Robot Investment Assistant Help- Collecting Information or Providing Advice? Evidence from China |
By Huimin Ge; Tsinghua University Huihang Wu; Tsinghua University Xiaoyan Zhang; PBC School of Finance, Tsinghua University |
presented by: Huihang Wu, Tsinghua University |
Discussant: Yi Huang, Fanhai International School of Finance, |
Seeing is Believing: Annual Report 'Graphicity' and Stock Returns |
By Xiaohu Deng; University of New South Wales Lei Gao; George Mason University Bo Hu; George Mason University Guofu Zhou; Washington University in St. Louis |
presented by: Guofu Zhou, Washington University in St. Louis |
Discussant: Kuntara Pukthuanthong, University of Missouri |
Systemic Fragility in Decentralized Markets |
By Alfred Lehar; University of Calgary Christine Parlour; University of California, Berkeley |
presented by: Alfred Lehar, University of Calgary |
Discussant: Jonathan Payne, Princeton University |
Session 4: Firm Growth and Industry Competition July 6, 2022 8:00 to 9:45 Location: Stream 4 |
Session Chair: Edith Hotchkiss, Boston College |
Corporate M&As and Labor Market Concentration: Efficiency Gains or Power Grabs? |
By David Cicero; Auburn University Mo Shen; Auburn University Jaideep Shenoy; University of Connecticut |
presented by: Mo Shen, Auburn University |
Discussant: Alex He, University of Maryland |
Relative Performance Evaluation and Strategic Competition |
By Li He; Erasmus University Rotterdam Toni Whited; University of Michigan Ran Guo; China-ASEAN Institute of Financial Cooperation |
presented by: Toni Whited, University of Michigan |
Discussant: Franklin Qian, University of North Carolina at Chapel Hill |
Resurrecting Dead Capital: The Sharing Economy, Entrepreneurship, and Job Creation |
By Yifei Mao; Cornell University Xuan Tian; PBC School of Finance, Tsinghua University Jiajie Xu; Boston College Kailei Ye; University of North Carolina |
presented by: Yifei Mao, Cornell University |
Discussant: Ting Xu, University of Virginia |
Control Motivations and Firm Growth |
By Raffaele Corvino; University of Torino Andrew Ellul; Indiana University Alessio Piccolo; Indiana University |
presented by: Alessio Piccolo, Indiana University |
Discussant: Tong Liu, University of Pennsylvania |
Session 5: Household Finance July 6, 2022 8:00 to 9:45 Location: Stream 5 |
Session Chair: Harold Zhang, The University of Texas at Dallas |
Countercyclical Income Risk and Portfolio Choices: Evidence from Sweden |
By Sylvain Catherine; The Wharton School Paolo Sodini; Stockholm School of Economics Yapei Zhang; ShanghaiTech University |
presented by: Yapei Zhang, ShanghaiTech University |
Discussant: Marius A. K. Ring, University of Texas at Austin |
The Effect of the Digital Divide on Household Consumption in China |
By Zhichao Yin; Capital University of Economics and Business Jialing Jiang; Beijing Union University Jianqiu Wang; Capital University of Economics and Business |
presented by: Jialing Jiang, Beijing Union University |
Discussant: Feng Zhao, The University of Texas at Dallas |
Hedging by Giving: Spiritual Insurance and Religious Donations |
By Yu-Jane Liu; Peking University Juanjuan Meng; Guanghua School of Management, Peking University Dalin Sheng; Tsinghua University Yu Zhang; Guanghua School of Management, Peking University |
presented by: Yu Zhang, Guanghua School of Management, Peking University |
Discussant: Hui Wang, The University of Texas at Dallas |
Processing Time and Lending Standards: The Role of Extrapolative Expectations in Mortgage Loans |
By Bin Wei; Federal Reserve Bank of Atlanta Feng Zhao; The University of Texas at Dallas |
presented by: Feng Zhao, The University of Texas at Dallas |
Discussant: Gonzalo Maturana, Emory University |
Session 6: Information, Culture, and Corporate Decisions July 6, 2022 8:00 to 9:45 Location: Stream 6 |
Session Chair: Feng Zhang, Southern Methodist University |
Owner Culture and Pay Inequality within Firms |
By Jan Bena; University of British Columbia Guangli Lu; The Chinese University of Hong Kong, Shenzhen Iris Wang; University of British Columbia |
presented by: Iris Wang, University of British Columbia |
Discussant: Xiaoding Liu, Texas A&M University |
Do Preemptive Rights Effectively Protect Minority Shareholders? Evidence from Chinese Listed Firms |
By Zhongzhi Song; Cheung Kong Graduate School of Business |
presented by: Zhongzhi Song, Cheung Kong Graduate School of Business |
Discussant: Jesse Fried, Harvard Law School |
The Value of Production Flexibility in Bad Times: Evidence from Covid Crisis Work-from-Home Announcements |
By Adlai Fisher; University of British Columbia Jiri Knesl; University of Oxford Ryan Lee; University of Oxford |
presented by: Jiri Knesl, University of Oxford |
Discussant: Wensi Xie, The Chinese University of Hong Kong |
Information Frictions and Firm Take up of Government Support: A Randomised Controlled Experiment |
By Claudia Custodio; Imperial College London Christopher Hansman; Imperial College London Diogo Mendes; Stockholm School of Economics |
presented by: Claudia Custodio, Imperial College London |
Discussant: Jiri Knesl, University of Oxford |
Session 7: Monetary Policy and Asset Markets July 6, 2022 8:00 to 9:45 Location: Stream 7 |
Session Chair: Hengjie Ai, University of Wisconsin |
Are Bank Bailouts Welfare Improving? |
By Malik Shukayev; University of Alberta Alexander Ueberfeldt; Bank of Canada |
presented by: Malik Shukayev, University of Alberta |
Discussant: Huang Ji, The Chinese University of Hong Kong |
The Impact of Securities Regulation on New Keynesian Firms |
By Erica Li; Cheung Kong Graduate School of Business Jin Xie; Peking University Ji Zhang; PBC School of Finance, Tsinghua University |
presented by: Jin Xie, Peking University |
Discussant: Jincheng Tong, University of Toronto |
Government Policy Announcement Return |
By Yang Liu; The University of Hong Kong Ivan Shaliastovich; University of Wisconsin-Madison |
presented by: Yang Liu, The University of Hong Kong |
Discussant: Pavel Savor, DePaul University |
Growth Expectations around FOMC Announcements |
By Mikhail Bhatia; Hong Kong University of Science and Technology Kai Li; Peking University |
presented by: Mikhail Bhatia, Hong Kong University of Science and Technology |
Discussant: Leyla Han, Boston University |
Session 8: New Perspectives in Asset Pricing July 6, 2022 8:00 to 9:45 Location: Stream 8 |
Session Chair: Roger Loh, Singapore Management University |
Macroeconomic Perceptions and Anomalies |
By Wei He; Southwestern University of Finance and Economics Zhiwei Su; Tsinghua University Jianfeng Yu; Tsinghua University |
presented by: Zhiwei Su, Tsinghua University |
Discussant: Quan Wen, Georgetown University |
Labor Force Telework Flexibility and Asset Prices: Evidence from the Covid-19 Pandemic |
By Jack Favilukis; University of British Columbia Xiaoji Lin; University of Minnesota Ali Sharifkhani; Northeastern University Xiaofei Zhao; Georgetown University |
presented by: Ali Sharifkhani, Northeastern University |
Discussant: Kai Li, Peking University |
Context Is Everything: Cross-Learning in the Digital Age of Capital Markets |
By Andrew Bird; Chapman University Stephen Karolyi; U.S. Department of the Treasury Thomas Ruchti; Carnegie Mellon University Phong Truong; Pennsylvania State University |
presented by: Thomas Ruchti, Carnegie Mellon University |
Discussant: Si Cheng, The Chinese University of Hong Kong |
Machine Forecast Disagreement and Equity Returns |
By Ran Chang; Shanghai Jiao Tong University |
presented by: Ran Chang, Shanghai Jiao Tong University |
Discussant: Yen-Cheng Chang, National Taiwan University |
Session 9: Options and Other Derivatives July 6, 2022 8:00 to 9:45 Location: Stream 9 |
Session Chair: Neil Pearson, University of Illinois at Urbana-Champaign |
Volatility Uncertainty, Disasters, and the Puzzle of VIX Futures Contango |
By Gurdip Bakshi; Temple University John Crosby; University of Maryland Xiaohui Gao; Fox School of Business Jinming Xue; Southern Methodist University |
presented by: John Crosby, University of Maryland |
Discussant: Sang Byung Seo, University of Wisconsin-Madison |
Mutual Fund Stock Holdings and the Cross-Section of Option Returns |
By Shuaiqi Li; London School of Economics |
presented by: Shuaiqi Li, London School of Economics |
Discussant: Amit Goyal, University of Lausanne |
Forecasting Option Returns with News |
By Jie Cao; The Chinese University of Hong Kong Bing Han; University of Toronto Gang Li; The Chinese University of Hong Kong Ruijing Yang; The Chinese University of Hong Kong Xintong Zhan; Fudan University |
presented by: Xintong Zhan, Fudan University |
Discussant: Turan Bali, Georgetown University |
A Linear-rational Multi-curve Term Structure Model with Stochastic Spread |
By Jose da Fonseca; Auckland University of Technology Komi Edem Dawui; World Bank and University Paris 1 - PRISM Yannick Malevergne; Université Paris 1 Panthéon-Sorbonne |
presented by: Jose da Fonseca, Auckland University of Technology |
Discussant: Robert Kimmel, Nanyang Technological University |
Session 10: Keynote Speech (Lars Peter Hansen, University of Chicago) and Best Paper Awards July 6, 2022 10:15 to 12:00 Location: Stream 10 |
Session 11: Anomalies July 6, 2022 13:00 to 14:45 Location: Stream 1 |
Session Chair: Jianfeng Yu, PBC School of Finance, Tsinghua University |
Production Complementarity and Transmission of Shocks in the Capital Markets |
By Charles Lee; Stanford University Tianshuo Shi; Harvard Business School Stephen Teng Sun; City University of Hong Kong Ran Zhang; Renmin University of China |
presented by: Stephen Teng Sun, City University of Hong Kong |
Discussant: Hong Xiang, The University of Hong Kong |
Information Diffusion into Multi-(Secretive)-Segment Firms |
By C.S. Agnes Cheng; University of Oklahoma Chengwei Wang; Sungkyunkwan University SKKGSB |
presented by: Chengwei Wang, Sungkyunkwan University SKKGSB |
Discussant: Lingling Zheng, Renmin University of China |
The Nature of Ownership and Stock Returns |
By Jeong Ho (John) Kim; Emory University Soohun Kim; Korea Advanced Institute of Science and Technology Daniel Weagley; Georgia Institute of Technology |
presented by: Soohun Kim, Korea Advanced Institute of Science and Technology |
Discussant: Bin Li, Wuhan University |
Uncertainty and the Beta Anomaly |
By Zhiqi Cao; Shanghai Jiao Tong University Wenfeng Wu; Shanghai Jiao Tong University Youchang Wu; University of Oregon |
presented by: Wenfeng Wu, Shanghai Jiao Tong University |
Discussant: Zhe Geng, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
Session 12: Banking, Credit Market, and Regulation July 6, 2022 13:00 to 14:45 Location: Stream 2 |
Session Chair: Xuewen Liu, The University of Hong Kong |
Corrective Regulation with Imperfect Instruments |
By Eduardo Davila; Yale University Ansgar Walther; Imperial College London |
presented by: Eduardo Davila, Yale University |
Discussant: Alexandr Kopytov, The University of Hong Kong |
Firm Quality Dynamics and the Slippery Slope of Credit Intervention |
By Wenhao Li; University of Southern California Ye Li; The Ohio State University |
presented by: Wenhao Li, University of Southern California |
Discussant: Kai Li, Peking University |
The Design of a Central Counterparty |
By John Chi-Fong Kuong; INSEAD Vincent Maurin; Stockholm School of Economics |
presented by: John Chi-Fong Kuong, INSEAD |
Discussant: Yan Xiong, Hong Kong University of Science and Technology |
Liquidity Stock and Bank Lending |
By Tianxi Wang; University of Essex |
presented by: Tianxi Wang, University of Essex |
Discussant: Hyun Soo Doh, Nanyang Technological University |
Session 13: Corporate Finance July 6, 2022 13:00 to 14:45 Location: Stream 3 |
Session Chair: Huasheng Gao, Fanhai International School of Finance, Fudan University |
The Death of Distance? COVID-19 Lockdowns and Venture Capital Investment |
By Pengfei Han; Guanghua School of Management, Peking University Chunrui Liu; University of International Business and Economics Xuan Tian; PBC School of Finance, Tsinghua University |
presented by: Pengfei Han, Guanghua School of Management, Peking University |
Discussant: John Rogers, Fudan University |
Did Western CEO Incentives Contribute to China's Technological Rise? |
By Bo Bian; University of British Columbia Jean-Marie Meier; The University of Texas at Dallas |
presented by: Jean-Marie Meier, The University of Texas at Dallas |
Discussant: Travers Child, China Europe International Business School |
Industry-University Collaboration and Commercializing Chinese Corporate Innovation |
By David Hsu; University of Pennsylvania Po-Hsuan Hsu; National Tsing Hua University Kaiguo Zhou; Sun Yat-sen University Tong Zhou; ShanghaiTech University |
presented by: Tong Zhou, ShanghaiTech University |
Discussant: Yiqing Lu, New York University Shanghai |
Overpricing in Municipal Bond Markets and the Unintended Consequences of the Administrative Solutions: Evidence from China |
By Laura Xiaolei Liu; Guanghua School of Management, Peking University Qiao Liu; Guanghua School of Management, Peking University Xiaoyu Liu; Guanghua School of Management, Peking University Ni Zhu; Peking University |
presented by: Laura Xiaolei Liu, Guanghua School of Management, Peking University |
Discussant: Tao Chen, Nanyang Technological University |
Session 14: ESG July 6, 2022 13:00 to 14:45 Location: Stream 4 |
Session Chair: Dragon Yongjun Tang, The University of Hong Kong |
ESG News, Future Cash Flows, and Firm Value |
By Francois derrien; HEC Paris Philipp Krueger; University of Geneva Augustin Landier; HEC Paris Tianhao Yao; HEC Paris |
presented by: Tianhao Yao, HEC Paris |
Discussant: Hao Liang, Singapore Management University |
An Inside View of Corporate ESG Practices |
By Hoa Briscoe-Tran; The Ohio State University |
presented by: Hoa Briscoe-Tran, The Ohio State University |
Discussant: Zacharias Sautner, Frankfurt School of Finance & Management |
Environmental Regulatory Risks, Firm Pollution, and Mutual Funds' Portfolio Choices |
By Simon Xu; University of California, Berkeley |
presented by: Simon Xu, University of California, Berkeley |
Discussant: Qifei Zhu, Nanyang Technological University |
Environmental Activism, Endogenous Risk, and Stock Prices |
By Ravi Jagannathan; Northwestern University Soohun Kim; Korea Advanced Institute of Science and Technology Robert McDonald; Northwestern University Shixiang Xia; The Hong Kong Polytechnic University |
presented by: Shixiang Xia, The Hong Kong Polytechnic University |
Discussant: Alexandr Kopytov, The University of Hong Kong |
Session 15: Finance, Labor and Politics July 6, 2022 13:00 to 14:45 Location: Stream 5 |
Session Chair: Yongxiang Wang, The Chinese University of Hong Kong, Shenzhen |
The Bright Side of Discretion in Public Procurement |
By Dimas Fazio; National University of Singapore |
presented by: Dimas Fazio, National University of Singapore |
Discussant: Silvia Vannutelli, Northwestern University |
Impact of Money in Politics on Labor and Capital: Evidence from Citizens United v. FEC |
By Pat Akey; University of Toronto Tania Babina; Columbia University Greg Buchak; Stanford University Ana-Maria Tenekedjieva; Federal Reserve Board of Governors |
presented by: Ana-Maria Tenekedjieva, Federal Reserve Board of Governors |
Discussant: Nandini Gupta, Indiana University |
Politicians' Asset Allocation and Economic Bill Proposals |
By Hyun-Soo Choi; Korea Advanced Institute of Science and Technology Hugh Kim; University of South Carolina Paul Kim; Korea Advanced Institute of Science and Technology |
presented by: Hyun-Soo Choi, Korea Advanced Institute of Science and Technology |
Discussant: Sung Kwan Lee, The Chinese University of Hong Kong, Shenzhen |
(In)dependent Central Banks |
By Vasso Ioannidou; City University of London Sotirios Kokas; University of Essex Thomas Lambert; Erasmus University Rotterdam Alex Michaelides; Imperial College London |
presented by: Thomas Lambert, Rotterdam School of Management, Erasmus University |
Discussant: Zhongchen Hu, The Chinese University of Hong Kong, Shenzhen |
Session 16: Asian Real Estate Markets July 6, 2022 15:15 to 17:00 Location: Stream 1 |
Session Chair: Hong Yan, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
How Urbanization Affects Regional Wealth Inequality: the Housing Channel |
By Shuai Ye; The Chinese University of Hong Kong, Shenzhen Jiaofen Hu; The Chinese University of Hong Kong, Shenzhen Pengfei Sui; The Chinese University of Hong Kong, Shenzhen |
presented by: Shuai Ye, The Chinese University of Hong Kong, Shenzhen |
Discussant: Yu Zhang, Guanghua School of Management, Peking University |
Can Housing Booms Elevate Financing Costs of Financial Institutions? |
By Chao Ma; Xiamen University Shuoxun Zhang; Sichuan University |
presented by: Shuoxun Zhang, Sichuan University |
Discussant: Claire Yurong Hong, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
An Equilibrium Model of the Chonsei System |
By Baiyun Jing; Tsinghua University Seongjin Park; University of Chicago Anthony Lee Zhang; University of Chicago |
presented by: Seongjin Park, University of Chicago |
Discussant: Zhengyi Zhou, Shanghai University of Finance and Economics |
Valuation of Long-Term Property Rights under Political Uncertainty |
By Zhiguo He; University of Chicago Maggie Hu; The Chinese University of Hong Kong Zhenping Wang; University of Chicago Vincent Yao; Georgia State University |
presented by: Maggie Hu, The Chinese University of Hong Kong |
Discussant: Kai Li, Peking University |
Session 17: Banking Competition and Informational Frictions July 6, 2022 15:15 to 17:00 Location: Stream 2 |
Session Chair: Marco Pagano, University of Naples Federico II |
Bank Competition and Entrepreneurial Gaps: Evidence from Bank Deregulation |
By Xiang Li; Boston College |
presented by: Xiang Li, Boston College |
Discussant: Mario Amore, Bocconi University |
Foreign Banks as Trust Providers: Evidence from Firms' Export |
By Hua Cheng; Nankai University Hans Degryse; KU Leuven Shusen Qi; Xiamen University |
presented by: Hua Cheng, Nankai University |
Discussant: Xiang Li, Boston College |
How Fragile Are Loan Mutual Funds? |
By Mustafa Emin; University of Florida Christopher James; University of Florida Tao Li; University of Florida Jing Lu; University of Florida |
presented by: Jing Lu, University of Florida |
Discussant: David Ng, Cornell University |
Bank Loan Markups and Adverse Selection |
By Mehdi Beyhaghi; Federal Reserve Bank of Richmond Cesare Fracassi; University of Texas at Austin Gregory Weitzner; McGill University |
presented by: Gregory Weitzner, McGill University |
Discussant: Ettore Panetti, University of Naples Federico II |
Session 18: Corporate Bond Market and Investment in China July 6, 2022 15:15 to 17:00 Location: Stream 3 |
Session Chair: Laura Xiaolei Liu, Guanghua School of Management, Peking University |
High-speed Railway Opening and Urban Construction Investment Bond Yield Spreads:A Quasi-natural Experiment |
By Juan Chen; Southwest Jiao Tong University Hongling Guo; China Securities Regulatory Commission Zuoping Xiao; Hangzhou Dianzi University |
presented by: Juan Chen, Southwest Jiao Tong University |
Discussant: Jian Chu, Nanjing University |
Informational Political Connections |
By Kang Chen; Southwestern University of Finance and Economics Qi Liu; Guanghua School of Management, Peking University Bo Sun; Federal Reserve Board |
presented by: Qi Liu, Guanghua School of Management, Peking University |
Discussant: Bo Li, PBC School of Finance, Tsinghua University |
Bond Default Matters in China: Evidence on Illiquidity Premium |
By Haoyu Gao; Renmin University of China Dapeng Hao; Renmin University of China Dun Jia; Peking University Zhigang Qiu; Renmin University of China |
presented by: Zhigang Qiu, Renmin University of China |
Discussant: Mai Li, Guanghua School of Management, Peking University |
State Ownership and the Term Structure of Yield Spreads: Evidence from China |
By Yuanzhen Lyu; University of California, Los Angeles Fan Yu; Claremont McKenna College |
presented by: Yuanzhen Lyu, University of California, Los Angeles |
Discussant: Zhuo Chen, PBC School of Finance, Tsinghua University |
Session 19: ESG, Firm Behavior and Market Performance July 6, 2022 15:15 to 17:00 Location: Stream 4 |
Session Chair: David Robinson, Duke University |
Is Carbon Risk Priced in the Cross-Section of Corporate Bond Returns? |
By Tinghua Duan; IESEG School of Management Frank Weikai Li; Singapore Management University Quan Wen; Georgetown University |
presented by: Frank Weikai Li, Singapore Management University |
Discussant: Celine (Yue) Fei, The University of North Carolina at Chapel Hill |
Firm Commitments |
By Patrick Bolton; Columbia University Marcin Kacperczyk; Imperial College London |
presented by: Marcin Kacperczyk, Imperial College |
Discussant: Manuel Adelino, Duke University |
Are Carbon Emissions Associated with Stock Returns? |
By Jitendra Aswani; Fordham University Aneesh Raghunandan; London School of Economics Shivram Rajgopal; Columbia University |
presented by: Jitendra Aswani, Fordham University |
Discussant: Guosong Xu, Erasmus University Rotterdam |
Policy Uncertainty Discourages Green Investment: Evidence from China |
By Mengyu Wang; PBC School of Finance, Tsinghua University Jeffrey Wurgler; New York University Hong Zhang; PBC School of Finance, Tsinghua University |
presented by: Hong Zhang, PBC School of Finance, Tsinghua University |
Discussant: Anders Anderson, Swedish House of Finance |
Session 20: Sovereign Risk and Currency Returns July 6, 2022 15:15 to 17:00 Location: Stream 5 |
Session Chair: Kalok Chan, The Chinese University of Hong Kong |
Hot Off the Press: News-implied Sovereign Default Risk |
By Chukwuma Dim; Frankfurt School of Finance & Management Kevin Koerner; European Investment Bank Marcin Wolski; European Investment Bank Sanne Zwart; European Investment Bank |
presented by: Marcin Wolski, European Investment Bank |
Discussant: Gang Li, Chinese University of Hong Kong |
Prosepct Theory and Currency Returns: Empirical Evidence |
By Qi Xu; Zhejiang University Roman Kozhan; University of Warwick Mark Taylor; Washington University |
presented by: Qi Xu, Zhejiang University |
Discussant: Chiara Banti, University of Essex |
Who Holds Sovereign Debt and Why It Matters |
By Xiang Fang; The University of Hong Kong Bryan Hardy; Bank for International Settlements Karen Lewis; University of Pennsylvania |
presented by: Xiang Fang, The University of Hong Kong |
Discussant: Chenchen Li, Tongji University |
Surging Sovereign Spreads: The Impact of Rising Seas on Sovereign Risk |
By Atreya Dey; University of Edinburgh |
presented by: Atreya Dey, University of Edinburgh |
Discussant: Yang Liu, The University of Hong Kong |
Session 21: Stock, Bond, and Commodity July 6, 2022 15:15 to 17:00 Location: Stream 6 |
Session Chair: Jun Pan, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
The Core, The Periphery, and the Disaster: Corporate-Sovereign Nexus in COVID-19 Times |
By Ruggero Jappelli; Goethe University Frankfurt Loriana Pelizzon; Leibniz Institute for Financial Research Alberto Plazzi; Universita' della Svizzera Italiana |
presented by: Ruggero Jappelli, Goethe University Frankfurt |
Discussant: Zhe Geng, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
Disagreement, Liquidity, and Price Drifts in the Corporate Bond Market |
By Yoshio Nozawa; University of Toronto Yancheng Qiu; Hong Kong University of Science and Technology Yan Xiong; Hong Kong University of Science and Technology |
presented by: Yancheng Qiu, Hong Kong University of Science and Technology |
Discussant: Grace Xing Hu, Tsinghua University |
Similar Stocks |
By Wei He; Southwestern University of Finance and Economics Yuehan Wang; PBC School of Finance, Tsinghua University Jianfeng Yu; Tsinghua University |
presented by: Yuehan Wang, PBC School of Finance, Tsinghua University |
Discussant: Xing Huang, Washington University in St. Louis |
A Tale of Two Premiums Revisited |
By Loïc Maréchal; ESSEC Business School |
presented by: Loïc Maréchal, ESSEC Business School |
Discussant: Wenjin Kang, Shanghai University of Finance and Economics |
Session 22: Asset Pricing July 7, 2022 8:00 to 9:45 Location: Stream 1 |
Session Chair: Ravi Jagannathan, Northwestern University |
Intermediary-Based Equity Term Structure |
By Kai Li; Peking University Chenjie Xu; Shanghai University of Finance and Economics |
presented by: Chenjie Xu, Shanghai University of Finance and Economics |
Discussant: Wenhao Li, University of Southern California |
Uncertainty, Risk, and Capital Growth |
By Gill Segal; The University of North Carolina at Chapel Hill Ivan Shaliastovich; University of Wisconsin-Madison |
presented by: Gill Segal, The University of North Carolina at Chapel Hill |
Discussant: Naveen Gondhi, INSEAD |
Liquidity and Risk in OTC Markets: A Theory of Asset Pricing and Portfolio Flows |
By Mahyar Kargar; University of Illinois at Urbana-Champaign Juan Passadore; Einaudi Institute for Economics and Finance Dejanir Silva; Purdue University |
presented by: Juan Passadore, Einaudi Institute for Economics and Finance |
Discussant: Alexander Zentefis, Yale University |
Asset Pricing with Slope Factors: Model and Evidence of Outperformance |
By Siddhartha Chib; Washington University in St. Louis Yi Chun Lin; Washington University in St. Louis Kuntara Pukthuanthong; University of Missouri Xiaming Zeng; Olin Business School |
presented by: Siddhartha Chib, Washington University in St. Louis |
Discussant: Shrihari Santosh, University of Colorado Boulder |
Session 23: Attracting and Retaining Human Capital July 7, 2022 8:00 to 9:45 Location: Stream 2 |
Session Chair: Nadya Malenko, University of Michigan |
Venture Labor: A Nonfinancial Signal for Start-up Success |
By Sean Cao; Georgia State University Jie He; University of Georgia Zhilu Lin; Clarkson University Xiao Ren; The Chinese University of Hong Kong, Shenzhen |
presented by: Xiao Ren, The Chinese University of Hong Kong, Shenzhen |
Discussant: Camille Hebert, University of Toronto |
Outsourcing Workplace Safety |
By Sangeun Ha; Hong Kong University of Science and Technology |
presented by: Sangeun Ha, Hong Kong University of Science and Technology |
Discussant: Malcolm Wardlaw, University of Georgia |
Employment Decline during the Great Recession: The Role of Firm Size Distribution |
By Wenjian Xu; Shanghai Jiao Tong University |
presented by: Wenjian Xu, Shanghai Jiao Tong University |
Discussant: Mindy Xiaolan, University of Texas at Austin |
Do Startups Benefit from Their Investors' Reputation? Evidence from a Randomized Field Experiment |
By Shai Bernstein; Harvard University Kunal Mehta; AngelList co. Richard Townsend; University of California, San Diego Ting Xu; University of Virginia |
presented by: Ting Xu, University of Virginia |
Discussant: Ye Zhang, Stockholm School of Economics |
Session 24: Empirical Asset Pricing July 7, 2022 8:00 to 9:45 Location: Stream 3 |
Session Chair: Asaf Manela, Washington University in St. Louis |
Pricing Errors and Cross-sectional Predictability of Corporate Bond Returns: the Role of Investor Sentiment |
By Xu Guo; Shenzhen University Hai Lin; Victoria University of Wellington Chunchi Wu; State University of New York at Buffalo Guofu Zhou; Washington University in St. Louis |
presented by: Xu Guo, Shenzhen University |
Discussant: Jennie Bai, Georgetown University |
The Overnight Drift |
By Nina Boyarchenko; Federal Reserve Bank of New York Lars Larsen; Copenhagen Business School Paul Whelan; Copenhagen Business School |
presented by: Paul Whelan, Copenhagen Business School |
Discussant: Terrence Hendershott, University of California, Berkeley |
The Virtue of Complexity in Machine Learning Portfolios |
By Bryan Kelly; Yale University Semyon Malamud; Ecole Polytechnique Federale de Lausanne Kangying Zhou; Yale University |
presented by: Bryan Kelly, Yale University |
Discussant: Eben Lazarus, Massachusetts Institute of Technology |
Should Retail Investors Listen to Social Media Analysts? Evidence from Text-Implied Beliefs |
By Chukwuma Dim; Frankfurt School of Finance & Management |
presented by: Chukwuma Dim, Frankfurt School of Finance & Management; George Washington University |
Discussant: Marina Niessner, The Wharton School |
Session 25: Exchange Rates and International Macro-Finance July 7, 2022 8:00 to 9:45 Location: Stream 4 |
Session Chair: Alp Simsek, Yale University, NBER, and CEPR |
Foreign Reserves Management and Original Sin |
By Steve Pak Yeung Wu; University of California, San Diego |
presented by: Steve Pak Yeung Wu, University of California, San Diego |
Discussant: Tony Zhang, Federal Reserve Board |
Currency Risk Under Capital Controls |
By Xiang Fang; The University of Hong Kong Sining Liu; The University of Hong Kong Yang Liu; The University of Hong Kong |
presented by: Sining Liu, The University of Hong Kong |
Discussant: Chang Ma, Fudan University |
Beyond Incomplete Spanning: Convenience Yields and Exchange Rate Disconnect |
By Zhengyang Jiang; Northwestern University Arvind Krishnamurthy; Stanford University Hanno Lustig; Stanford University Jialu Sun; Stanford University |
presented by: Jialu Sun, Stanford University |
Discussant: Dmitry Mukhin, London School of Economics |
Financial Development, Firm Growth, and Aggregate Productivity Divergence in Europe |
By Xiaomei Sui; University of Rochester |
presented by: Xiaomei Sui, University of Rochester |
Discussant: Rafael Guntin, New York University |
Session 26: Market Microstructure: Theory and Evidence July 7, 2022 8:00 to 9:45 Location: Stream 5 |
Session Chair: Hong Liu, Washington University in St. Louis |
Dampening Effect and Market Efficiency |
By Ming Guo; ShaghaiTech University |
presented by: Ming Guo, ShaghaiTech University |
Discussant: Wen Chen, The Chinese University of Hong Kong, Shenzhen |
The Optimal Nominal Price of a Stock |
By Sida Li; University of Illinois at Urbana-Champaign Mao Ye; University of Illinois and NBER |
presented by: Sida Li, University of Illinois at Urbana-Champaign |
Discussant: Shiyang Huang, The University of Hong Kong |
Size Discount and Size Penalty: Trading Costs in Bond Markets |
By Gabor Pinter; Bank of England Chaojun Wang; University of Pennsylvania Junyuan Zou; INSEAD |
presented by: Junyuan Zou, INSEAD |
Discussant: Dmitry Livdan, University of California, Berkeley |
The Value of Value Investors |
By Maureen O'Hara; Cornell University Andreas Rapp; Federal Reserve Board Alex (Xing) Zhou; Federal Reserve Board |
presented by: Andreas Rapp, Federal Reserve Board |
Discussant: Fuwei Jiang, Central University of Finance and Econom |
Session 27: New Advances in Equilibrium Asset Pricing July 7, 2022 8:00 to 9:45 Location: Stream 6 |
Session Chair: Hui Chen, Massachusetts Institute of Technology |
Pension Plan Systems and Asset Prices |
By Nuno Coimbra; Bank of France Francisco Gomes; London Business School Alex Michaelides; Imperial College London Jialu Shen; University of Missouri |
presented by: Jialu Shen, University of Missouri |
Discussant: Jack Favilukis, University of British Columbia |
Leasing as a Mitigation Channel of Capital Misallocation |
By Kai Li; Peking University Yiming Xu; Cambridge University |
presented by: Yiming Xu, Cambridge University |
Discussant: Jincheng Tong, University of Toronto |
Welfare Implications of Heatwaves |
By Harrison Hong; Columbia University Neng Wang; Columbia University Jiangmin Xu; Guanghua School of Management, Peking University Jinqiang Yang; Shanghai University of Finance and Economics |
presented by: Jiangmin Xu, Guanghua School of Management, Peking University |
Discussant: Michael Barnett, Arizona State University |
Sectoral Labor Reallocation and Return Predictability |
By Esther Eiling; University of Amsterdam Raymond Kan; University of Toronto Ali Sharifkhani; Northeastern University |
presented by: Ali Sharifkhani, Northeastern University |
Discussant: Xiaoji Lin, University of Minnesota |
Session 28: Politics, SOEs, and Corporate Policies July 7, 2022 8:00 to 9:45 Location: Stream 7 |
Session Chair: Yiming Qian, University of Connecticut |
Minimum Wages, State Ownership, and Corporate Environmental Policies |
By Tao Chen; Nanyang Technological University Xi Xiong; Wuhan University Kunru Zou; Renmin University of China |
presented by: Kunru Zou, Renmin University of China |
Discussant: Yi Huang, Fanhai International School of Finance, |
Anti-corruption and Corporate Investment: Evidence from a Quasi-Natural Experiment in China |
By Jinshuai Hu; Xiamen University |
presented by: Jinshuai Hu, Xiamen University |
Discussant: Bo Li, PBC School of Finance, Tsinghua University |
Political Connections and Corporate Litigation: Evidence from a Quasi-Natural Experiment |
By Xingchen Zhu; Vrije Universiteit Amsterdam |
presented by: Xingchen Zhu, Vrije Universiteit Amsterdam |
Discussant: Jian Xu, Yale-NUS College |
State-owned Enterprises and Labor Unrest |
By Jiaxing You; Xiamen University Bohui Zhang; The Chinese University of Hong Kong, Shenzhen Haikun Zhu; Erasmus University Rotterdam |
presented by: Haikun Zhu, Erasmus University Rotterdam |
Discussant: Haoyu Gao, Renmin University of China |
Session 29: Social Finance July 7, 2022 8:00 to 9:45 Location: Stream 8 |
Session Chair: Paige Ouimet, The University of North Carolina at Chapel Hill |
Conflicting Objectives Between ESG Funds and Their Investors: Evidence From Mutual Fund Voting |
By Tao Li; University of Florida S. Lakshmi Naaraayanan; London Business School Kunal Sachdeva; Rice University |
presented by: Kunal Sachdeva, Rice University |
Discussant: Hao Liang, Singapore Management University |
Quantifying the Impact of Impact Investing |
By Andrew Lo; Massachusetts Institute of Technology Ruixun Zhang; Peking University |
presented by: Ruixun Zhang, Peking University |
Discussant: Lucian Taylor, University of Pennsylvania |
Risk, Return, and Environmental and Social Ratings |
By Sudheer Chava; Georgia Institute of Technology Jeong Ho (John) Kim; Emory University Jaemin Lee; Emory University |
presented by: Jeong Ho (John) Kim, Emory University |
Discussant: Kelly Posenau, University of Chicago |
When Values Align: Corporate Philanthropy and Employee Turnover |
By Anthony Rice; The Chinese University of Hong Kong Christoph Schiller; Arizona State University |
presented by: Anthony Rice, The Chinese University of Hong Kong |
Discussant: Stefan Zeume, University of Illinois at Urbana-Champaign |
Session 30: The FinTech Impact July 7, 2022 8:00 to 9:45 Location: Stream 9 |
Session Chair: Lin William Cong, Cornell University |
Open Banking with Depositor Monitoring |
By Itay Goldstein; University of Pennsylvania Chong Huang; University of California, Irvine Liyan Yang; University of Toronto |
presented by: Liyan Yang, University of Toronto |
Discussant: Robert Marquez, University of California at Davis |
Equilibrium Staking Levels in a Proof-of-Stake Blockchain |
By Kose John; New York University Thomas Rivera; McGill University Fahad Saleh; Wake Forest University |
presented by: Thomas Rivera, McGill University |
Discussant: Matthieu Bouvard, Toulouse School of Economics |
The Real Impact of FinTech: Evidence from Mobile Payment Technology |
By Sumit Agarwal; National University of Singapore Wenlan Qian; National University of Singapore Yuan Ren; Zhejiang University Hsin-Tien Tsai; National University of Singapore Bernard Yeung; National University of Singapore |
presented by: Yuan Ren, Zhejiang University |
Discussant: Yu Zhang, Guanghua School of Management, Peking University |
Surviving the Fintech Disruption |
By Wei Jiang; Columbia University Yuehua Tang; University of Florida Rachel Xiao; Georgia State University Vincent Yao; Georgia State University |
presented by: Rachel Xiao, Georgia State University |
Discussant: Yukun Liu, University of Rochester |
Session 31: Advances in FinTech and Machine Learning July 7, 2022 10:15 to 12:00 Location: Stream 1 |
Session Chair: Alberto Rossi, Georgetown University |
Automation in Small Business Lending Can Reduce Racial Disparities: Evidence from the Paycheck Protection Program |
By Sabrina Howell; New York University & NBER Theresa Kuchler; New York University David Snitkof; Ocrolus Johannes Stroebel; New York University Jun Wong; University of Chicago |
presented by: Sabrina Howell, New York University & NBER |
Discussant: Yi Huang, Fanhai International School of Finance, |
From Man vs. Machine to Man + Machine: The Art and AI of Stock Analyses |
By Sean Cao; Georgia State University Wei Jiang; Columbia University Junbo Wang; Louisiana State University Baozhong Yang; Georgia State University |
presented by: Junbo Wang, Louisiana State University |
Discussant: Bin Li, Wuhan University |
Nowcasting Firms' Fundamentals: Evidence from the Cloud |
By Ran Chang; Shanghai Jiao Tong University Zhi Da; University of Notre Dame |
presented by: Ran Chang, Shanghai Jiao Tong University |
Discussant: Wenlan Qian, National University of Singapore |
The Statistical Limit of Arbitrage |
By Rui Da; University of Chicago Stefan Nagel; University of Chicago Dacheng Xiu; University of Chicago |
presented by: Dacheng Xiu, University of Chicago |
Discussant: Ye Luo, The University of Hong Kong |
Session 32: Anomalies and Information July 7, 2022 10:15 to 12:00 Location: Stream 2 |
Session Chair: David McLean, Georgetown University |
Anomalies, Management Expectations, and Stock Returns |
By Shikha Jaiswal; University of New South Wales Cong (Roman) Wang; Texas Tech University Dexin Zhou; Baruch College, The City University of New York |
presented by: Cong (Roman) Wang, Texas Tech University |
Discussant: Cameron Peng, London School of Economics |
Tipping in Korea |
By Felix Meschke; University of Kansas |
presented by: Felix Meschke, University of Kansas |
Discussant: Seongkyu “Gilbert” Park, The Hong Kong Polytechnic University |
The February Anomaly in China: The Case of Chinese New Year |
By Jinjing Liu; Moravian University |
presented by: Jinjing Liu, Moravian University |
Discussant: Chuan Hwang, Nanyang Taiwan University |
Causal Effect of Information Costs on Asset Pricing Anomalies |
By Yong-Hyuck Kim; Michigan State University Zoran Ivkovic; Broad School of Business Dmitriy Muravyev; Michigan State University |
presented by: Yong-Hyuck Kim, Michigan State University |
Discussant: Si Cheng, The Chinese University of Hong Kong |
Session 33: Asset Management July 7, 2022 10:15 to 12:00 Location: Stream 3 |
Session Chair: Andrei Simonov, Michigan State University |
Production Complementarities in Asset Management |
By Lu Han; University of Toronto Stanislav Sokolinski; Rutgers University |
presented by: Stanislav Sokolinski, Rutgers University |
Discussant: Rachel Li, University of Alabama |
Do Banks Buffer Financial Market Shocks? Fire Sales Around the World and Corporate Financing |
By Massimo Massa; INSEAD Chuyi Yang; Xiamen University Lei Zhang; City University of Hong Kong |
presented by: Chuyi Yang, Xiamen University |
Discussant: Darwin Choi, The Chinese University of Hong Kong |
Can Active Funds Navigate Changing International Investment Environment? |
By Wei Jiao; Rutgers University George Andrew Karolyi; Cornell University David Ng; Cornell University |
presented by: David Ng, Cornell University |
Discussant: David Schumacher, McGill University |
Superstar Financial Professionals: Talented or Merely Lucky? The Effect of Competition on Rank-based Talent Attribution |
By Thomas Noe; University of Oxford Dawei Fang; University of Gothenburg |
presented by: Dawei Fang, University of Gothenburg |
Discussant: Naveen Khanna, Michigan State University |
Session 34: Corporate Finance: New Data and New Methods July 7, 2022 10:15 to 12:00 Location: Stream 4 |
Session Chair: Bohui Zhang, The Chinese University of Hong Kong, Shenzhen |
Intermediary Profits in a Time of Scarcity |
By Mark Jansen; University of Utah |
presented by: Mark Jansen, University of Utah |
Discussant: Qifei Zhu, Nanyang Technological University |
Risks in Mergers and Acquisitions: Evidence from Acquirers' Risk Factor Disclosure |
By Feng Guo; Iowa State University Tingting Liu; Iowa State University Tao Shu; The Chinese University of Hong Kong, Shenzhen Xinyan Yan; University of Dayton |
presented by: Tao Shu, The Chinese University of Hong Kong, Shenzhen |
Discussant: Allen Huang, Hong Kong University of Science and Technology |
Venture Capital and Value Creation in the Product Market |
By Xi Chen; University of Houston Jingxuan Zhang; Boston College |
presented by: Jingxuan Zhang, Boston College |
Discussant: Jie He, University of Georgia |
Does the Confidential IPO Registration Process Create Value? |
By Mengnan Zhu; Brandeis University |
presented by: Mengnan Zhu, Brandeis University |
Discussant: Sean Cao, Georgia State University |
Session 35: Empirical Asset Pricing: Equity Returns July 7, 2022 10:15 to 12:00 Location: Stream 5 |
Session Chair: Jack Bao, University of Delaware |
Conditional Leverage and the Term Structure of Option-implied Equity Risk Premia |
By Fousseni Chabi-Yo; Isenberg School of Management Hugues Langlois; HEC Paris |
presented by: Fousseni Chabi-Yo, Isenberg School of Management |
Discussant: Kevin Crotty, Rice University |
Dynamic Asset (Mis)Pricing: Build-up versus Resolution Anomalies |
By Jules van Binsbergen; The Wharton School Martijn Boons; Tilburg University Christian Opp; University of Rochester Andrea Tamoni; Rutgers Business School |
presented by: Christian Opp, University of Rochester |
Discussant: Chen Xue, University of Cincinnati Lindner College |
Term Structure of Equity in the Cross Section |
By Sipeng CHEN; The Hong Kong Polytechnic University Gang Li; The Hong Kong Polytechnic University K. C. John Wei; The Hong Kong Polytechnic University Linti Zhang; The Hong Kong Polytechnic University |
presented by: Gang Li, The Hong Kong Polytechnic University |
Discussant: Xiaoxia Lou, University of Delaware |
Are Foreign Investors Informed? Trading Experiences of Foreign Investors in China |
By Christian T. Lundblad; The University of North Carolina at Chapel Hill Donghui Shi; Fudan University Xiaoyan Zhang; PBC School of Finance, Tsinghua University Zijian Zhang; PBC School of Finance, Tsinghua University |
presented by: Zijian Zhang, PBC School of Finance, Tsinghua University |
Discussant: Pedro Matos, University of Virginia |
Session 36: Frequent Auctions and Frequent Trading July 7, 2022 10:15 to 12:00 Location: Stream 6 |
Session Chair: Ingrid Werner, The Ohio State University |
On the Effects of Continuous Trading |
By Ivan Indriawan; Auckland University of Technology Roberto Pascual; Universidad de las Islas Baleares Andriy Shkilko; Wilfrid Laurier University |
presented by: Andriy Shkilko, Wilfrid Laurier University |
Discussant: Mina Lee, Washington University in St. Louis |
Latency Arbitrage and Frequent Batch Auctions |
By Zeyu Zhang; University of Edinburgh Gbenga Ibikunle; University of Edinburgh |
presented by: Zeyu Zhang, University of Edinburgh |
Discussant: Roberto Ricco', NHH Norwegian School of Economics |
Identifying High Frequency Trading Activity without Proprietary Data |
By Bidisha Chakrabarty; Saint Louis University Carole Comerton-Forde; University of Melbourne Roberto Pascual; Universidad de las Islas Baleares |
presented by: Carole Comerton-Forde, University of Melbourne |
Discussant: Chen Yao, The Chinese University of Hong Kong |
Strategic High-Frequency Trading, For-Profit Exchanges, and Endogenous Delays |
By Jun Aoyagi; Hong Kong University of Science and Technology |
presented by: Jun Aoyagi, Hong Kong University of Science and Tech |
Discussant: John Shim, University of Notre Dame |
Session 37: Information-Related Behavior and Pricing and Other Outcomes July 7, 2022 10:15 to 12:00 Location: Stream 7 |
Session Chair: Shane Johnson, Texas A&M University |
Investor (Mis)Reaction, Biased Beliefs, and the Mispricing Cycle |
By Azi Ben-Rephael; Rutgers University Steffen Hitzemann; Rutgers University Yuanyuan Xiao; Rutgers University |
presented by: Azi Ben-Rephael, Rutgers University |
Discussant: J. Anthony Cookson, University of Colorado Boulder |
The Effect of Institutional Investor Distraction on Analyst Forecasts |
By Zhi Li; The Hong Kong Polytechnic University Jing Xie; The Hong Kong Polytechnic University |
presented by: Zhi Li, The Hong Kong Polytechnic University |
Discussant: In Ji Jang, Bentley University |
Consumer Preference and Bank Competition amid Digital Disruption |
By Erica Xuewei Jiang; University of Southern California Gloria Yang Yu; Singapore Management Univesity Jinyuan Zhang; University of California, Los Angeles |
presented by: Jinyuan Zhang, University of California, Los Angeles |
Discussant: Greg Buchak, Stanford University |
Verifiable Content in Social Media Stock-Analysis Articles: The Long and Short of It |
By Lei Chen; Southwestern University of Finance and Economics |
presented by: Lei Chen, Southwestern University of Finance and Economics |
Discussant: Hong Zhang, PBC School of Finance, Tsinghua University |
Session 38: Mergers and Acquisitions July 7, 2022 10:15 to 12:00 Location: Stream 8 |
Session Chair: William Megginson, University of Oklahoma |
Ownership, Capital Structure, and Operating Loss of Acquiring Firms |
By Cong Wang; Macquarie University |
presented by: Cong Wang, Macquarie University |
Discussant: Xiaofei Pan, University of Wollongong |
Private Equity in the Hospital Industry |
By Janet Gao; Indiana University Yongseok Kim; Indiana University Merih Sevilir; Indiana University |
presented by: Yongseok Kim, Indiana University |
Discussant: Abhinav Gupta, New York University |
The Effect of Monitoring in Private Equity: the Case of Cross-country Acquisitions |
By Jens Martin; University of Amsterdam |
presented by: Jens Martin, University of Amsterdam |
Discussant: Yingdi Wang, California State University, Fullerton |
Mergers and Acquisitions and Debt Recontracting: Evidence from Bond Covenants |
By Hadiye Aslan; Georgia State University Madhu Kalimipalli; Wilfrid Laurier University Praveen Kumar; University of Houston Buvaneshwaran Venugopal; University of Central Florida |
presented by: Buvaneshwaran Venugopal, University of Central Florida |
Discussant: Shunlan Fang, Kent State University |
Session 39: News, Stock Returns, and Bond Markets July 7, 2022 10:15 to 12:00 Location: Stream 9 |
Session Chair: Dongmei Li, University of South Carolina, Columbia |
News Tone and Stock Return in Chinese Market |
By Huimin Ge; Tsinghua University Xiaoyan Zhang; PBC School of Finance, Tsinghua University |
presented by: Huimin Ge, Tsinghua University |
Discussant: Yu Wang, University of Arkansas |
News Disagreement, Trading Volume, and Equity Prices |
By Hang Wang; University of New South Wales |
presented by: Hang Wang, University of New South Wales |
Discussant: Kevin Tseng, National Taiwan University |
Instrumented Expected Profitability Premium |
By Te-Feng Chen; The Hong Kong Polytechnic University Ye Gong; The Hong Kong Polytechnic University K. C. John Wei; The Hong Kong Polytechnic University |
presented by: Te-Feng Chen, The Hong Kong Polytechnic University |
Discussant: Jun Li, University of Texas at Dallas |
Risk Aversion in Corporate Bond Markets |
By Antje Berndt; Australian National University Ilya Dergunov; Australian National University Jean Helwege; University of California, Riverside |
presented by: Jean Helwege, University of California, Riverside |
Discussant: Yoshio Nozawa, University of Toronto |
Session 40: Asset Pricing Theories July 7, 2022 13:00 to 14:45 Location: Stream 1 |
Session Chair: Erica Li, Cheung Kong Graduate School of Business |
Identifying S-Shaped Consumption Utility and Solving the Equity Premium Puzzle |
By Gaosheng Ju; Fudan University Qi Li; Texas A&M University |
presented by: Gaosheng Ju, Fudan University |
Discussant: Pedro Barroso, Universidade Católica Portuguesa |
The Risks of Safe Assets |
By Yang Liu; The University of Hong Kong Lukas Schmid; University of Southern California Amir Yaron; University of Pennsylvania |
presented by: Yang Liu, The University of Hong Kong |
Discussant: Yuchen Chen, University of Minnesota |
The Volatility Puzzle of the Low-risk Anomaly |
By Pedro Barroso; Universidade Católica Portuguesa Andrew Detzel; University of Denver Paulo Maio; Hanken School of Economics |
presented by: Pedro Barroso, Universidade Católica Portuguesa |
Discussant: Yang Liu, The University of Hong Kong |
Do Bankers Matter for Main Street? The Financial Intermediary Labor Channel |
By Yuchen Chen; University of Minnesota Jack Favilukis; University of British Columbia Xiaoji Lin; University of Minnesota Xiaofei Zhao; Georgetown University |
presented by: Yuchen Chen, University of Minnesota |
Discussant: Jun Li, Shanghai Advanced Institute of Finance, Shanghai Jiaotong University |
Session 41: 中国金融问题 July 7, 2022 13:00 to 14:45 Location: Stream 2 |
Session Chair: Xuan Tian, PBC School of Finance, Tsinghua University |
政府纾困民营上市公司:“救助”抑或“接盘”? |
By Danglun Luo; Sun Yat-sen University |
presented by: Danglun Luo, Sun Yat-sen University |
Discussant: Minggui Yu, Wuhan University |
企业定点结对帮扶与乡村振兴 |
By Xinyu Zhou; Peking University zixun zhou; Guanghua School of Management, Peking University |
presented by: Xinyu Zhou, Peking University |
Discussant: Dongmin Kong, Huazhong University of Science and Technology |
土地市场资本结构与城投平台多元化投资 |
By Fan Jianchao; Xiamen University |
presented by: Fan Jianchao, Xiamen University |
Discussant: Xiaoqian Zhang, Zhejiang University |
法治建设与债券市场高质量发展--基于破产法庭成立的准自然实验 |
By Songnan Li; Peking University Mai Li; Guanghua School of Management, Peking University Bo Li; PBC School of Finance, Tsinghua University Laura Xiaolei Liu; Guanghua School of Management, Peking University |
presented by: Laura Xiaolei Liu, Guanghua School of Management, Peking University |
Discussant: Kaijuan Gao, Hunan University |
Session 42: Entrepreneurship, Venture Capital, and Small Business July 7, 2022 13:00 to 14:45 Location: Stream 3 |
Session Chair: Sudipto Dasgupta, The Chinese University of Hong Kong |
Patient VCs vs. Deep-Pocketed Incumbents: VC Financing Strategies in the Presence of Competitive Threats |
By Peter Pham; University of New South Wales Roham Rezaei; University of New South Wales Jason Zein; University of New South Wales |
presented by: Roham Rezaei, University of New South Wales |
Discussant: Yan Xiong, Hong Kong University of Science and Technology |
Startup (Dis)similarity and Types of Early-stage Financing |
By S. Katie Moon; University of Colorado Boulder Paula Suh; University of Georgia |
presented by: Paula Suh, University of Georgia |
Discussant: Shenje Hshieh, City University of Hong Kong |
Employment Protection and VC Investment: The Impact of Wrongful Discharge Laws |
By Wei Wang; Cleveland State University Chris Yung; University of Virginia |
presented by: Chris Yung, University of Virginia |
Discussant: Xiao Ren, The Chinese University of Hong Kong, Shenzhen |
Tax Incentives, Small Businesses, and Physical Capital Reallocation |
By Riddha Basu; George Washington University Doyeon Kim; Northwestern University Manpreet Singh; Georgia Institute of Technology |
presented by: Manpreet Singh, Georgia Institute of Technology |
Discussant: Yupeng Lin, National University of Singapore |
Session 43: Market Frictions and Anomalies July 7, 2022 13:00 to 14:45 Location: Stream 4 |
Session Chair: Tao Shu, The Chinese University of Hong Kong, Shenzhen |
An Unintended Consequence of Holding Dollar Assets |
By Robert Czech; Bank of England Shiyang Huang; The University of Hong Kong Dong Lou; London School of Economics Tianyu Wang; Tsinghua University |
presented by: Shiyang Huang, The University of Hong Kong |
Discussant: Jinfan Zhang, The Chinese University of Hong Kong, She |
Mispricing and Anomalies: An Exogenous Shock to Short Selling from JGTRRA |
By Yufeng Han; University of North Carolina at Charlotte Yueliang Lu; University of North Carolina at Charlotte Weike Xu; Clemson University Guofu Zhou; Washington University in St. Louis |
presented by: Weike Xu, Clemson University |
Discussant: Zhanhui Chen, Hong Kong University of Science and Technology |
Does Earnings Predictability Lead to Return Predictability? Evidence from Conglomerates |
By Allaudeen Hameed; National University of Singapore Massimo Massa; INSEAD Zhenghui Ni; National University of Singapore |
presented by: Zhenghui Ni, National University of Singapore |
Discussant: Chelsea Yao, Lancaster University |
Advising the Advisors: Evidence from ETFs |
By Jonathan Brogaard; University of Utah Nataliya Gerasimova; Norwegian School of Economics Ying Liu; Shanghai University of Finance and Economics |
presented by: Ying Liu, Shanghai University of Finance and Economics |
Discussant: Darwin Choi, The Chinese University of Hong Kong |
Session 44: The Real Effects of Capital Markets July 7, 2022 13:00 to 14:45 Location: Stream 5 |
Session Chair: Kai Li, Peking University |
Export Survival: The Role of Banks and Stock Markets |
By Melise Jaud; World Bank Madina Kukenova; Business School of Lausanne Martin Strieborny; University of Glasgow |
presented by: Martin Strieborny, University of Glasgow |
Discussant: Chenjie Xu, Shanghai University of Finance and Economics |
Wait, What? The Consequences of Not Disclosing Feedback-Stimulating Information |
By Tanja Keeve; Frankfurt School of Finance and Management Matthias Lassak; Aarhus University |
presented by: Matthias Lassak, Aarhus University |
Discussant: Claire Yurong Hong, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
Do(n't) Believe Everything you Hear About Disclosure – Twitter and the Voluntary Disclosure Effect |
By Julian Vogel; San Jose State University Feixue Xie; University of Texas at El Paso |
presented by: Feixue Xie, University of Texas at El Paso |
Discussant: Baixiao Liu, Peking University |
The Bright and Dark Side of a News Paywall |
By Yunjing Liu; Renmin University of China Yi Ru; Renmin University of China Jian Xue; Tsinghua University Yuan Zhang; University of Texas at Dallas |
presented by: Yi Ru, Renmin University of China |
Discussant: Yaxuan Qi, City University of Hong Kong |
Session 45: Asset Pricing Factors July 7, 2022 15:15 to 17:00 Location: Stream 1 |
Session Chair: Dong Lou, London School of Economics |
Factor and Stock-specific Disagreement and Trading Flows |
By Fotis Grigoris; Indiana University Christian Heyerdahl-Larsen; Indiana University Preetesh Kantak; Indiana University |
presented by: Preetesh Kantak, Indiana University |
Discussant: Terry Zhang, Australian National University |
Inflation Volatility Risk and the Cross-section of Corporate Bond Returns |
By Luis Ceballos; Pennsylvania State University |
presented by: Luis Ceballos, Pennsylvania State University |
Discussant: Zhan Shi, Tsinghua University |
Semiparametric Conditional Factor Models: Estimation and Inference |
By Qihui Chen; The Chinese University of Hong Kong Xiaoliang Wang; University of Pennsylvania |
presented by: Qihui Chen, The Chinese University of Hong Kong, Shenzhen |
Discussant: Linyan Zhu, University of California, San Diego |
Assessing Asset Pricing Models Using Exchange-Traded Fund Flows |
By K.C. John Wei; The Hong Kong Polytechnic University Linti Zhang; The Hong Kong Polytechnic University |
presented by: Linti Zhang, The Hong Kong Polytechnic University |
Discussant: Shiyang Huang, The University of Hong Kong |
Session 46: Corporate Finance Theory July 7, 2022 15:15 to 17:00 Location: Stream 2 |
Session Chair: Giorgia Piacentino, Columbia University |
In Search of A Unicorn |
By Felix Feng; University of Washington |
presented by: Felix Feng, University of Washington |
Discussant: Simon Mayer, University of Chicago |
Debt Maturity Management |
By Yunzhi Hu; University of North Carolina at Chapel Hill Felipe Varas; Duke University Chao Ying; The Chinese University of Hong Kong |
presented by: Chao Ying, The Chinese University of Hong Kong |
Discussant: Anton Tsoy, University of Toronto |
Creating Controversy in Proxy Voting Advice |
By Andrey Malenko; University of Michigan Nadya Malenko; University of Michigan Chester Spatt; Carnegie Mellon University |
presented by: Andrey Malenko, University of Michigan |
Discussant: Jonathan Cohn, University of Texas at Austin |
Providing Incentives with Private Contracts |
By Andrea Buffa; University of Colorado Boulder Qing Liu; City University of Hong Kong Lucy White; Questrom School of Business, Boston Univ |
presented by: Qing Liu, City University of Hong Kong |
Discussant: Dmitry Orlov, University of Wisconsin-Madison |
Session 47: Financial Intermediation July 7, 2022 15:15 to 17:00 Location: Stream 3 |
Session Chair: Kathy Yuan, London School of Economics |
Bank Information Production Over the Business Cycle |
By Cooper Howes; Federal Reserve Bank of Kansas City Gregory Weitzner; McGill University |
presented by: Gregory Weitzner, McGill University |
Discussant: Cynthia Balloch, London School of Economics |
Global Zombies |
By Edward Altman; New York University Rui Dai; University of Pennsylvania Wei Wang; Queen's University |
presented by: Wei Wang, Queen's University |
Discussant: Joanne Juan Chen, London School of Economics |
Borrowing from A Competitor's Bank |
By Donghang Zhang; University of South Carolina Yafei Zhang; University of Manchester |
presented by: Yafei Zhang, University of Manchester |
Discussant: Jingxuan Chen, London School of Economics |
Creditor Competition, Monitoring and SME Earnings Management |
By Xing Huang; University of Portsmouth |
presented by: Xing Huang, University of Portsmouth |
Discussant: Yi Huang, Fanhai International School of Finance, |
Session 48: Incentives and Governance July 7, 2022 15:15 to 17:00 Location: Stream 4 |
Session Chair: Lin Peng, Baruch College, The City University of New York |
Workplace Inequality in the U.S. and Managerial Rent Extraction: Evidence from Pay Growth |
By Jie He; University of Georgia Lei Li; Federal Reserve Board Tao Shu; The Chinese University of Hong Kong, Shenzhen |
presented by: Tao Shu, The Chinese University of Hong Kong, Shenzhen |
Discussant: Chih-Ching Hung, National Taiwan University |
CEO Turnover and Director Reputation |
By Felix von Meyerinck; Tilburg University Jonas Romer; University of St. Gallen Markus Schmid; University of St. Gallen |
presented by: Markus Schmid, University of St. Gallen |
Discussant: Oguzhan Karakas, Cambridge Judge Business School |
What Gets Measured Gets Managed: Investment and the Cost of Capital |
By Zhiguo He; University of Chicago Guanmin Liao; Renmin University of China Baolian Wang; University of Florida |
presented by: Guanmin Liao, Renmin University of China |
Discussant: Weilong Zhang, University of Cambridge |
The Meeting before the Meeting: Governance Roadshows and Mutual Fund Voting |
By Jesse Ellis; North Carolina State University William Gerken; University of Kentucky Russell Jame; University of Kentucky |
presented by: Russell Jame, University of Kentucky |
Discussant: Yao Shen, Baruch College, The City University of New York |
Session 49: Connections and Finance July 8, 2022 8:00 to 9:45 Location: Stream 1 |
Session Chair: Liu Yang, University of Maryland |
The Impact of Cultural Distance on Fund Transfers in the Internal Capital Market |
By John Zhang; Macau University of Science and Technology Yang Wang; The Hong Kong Polytechnic University Qingjie Du; The Hong Kong Polytechnic University |
presented by: John Zhang, Macau University of Science and Technology |
Discussant: Meghana Ayyagari, George Washington University |
Virtual Competition and Cost of Capital: Evidence from Telehealth |
By Kimberly Cornaggia; Pennsylvania State University Xuelin Li; University of South Carolina Zihan Ye; University of Nevada, Las Vegas |
presented by: Xuelin Li, University of South Carolina |
Discussant: Tong Liu, University of Pennsylvania |
Board Knowledge Diversity and Radical Innovation |
By Gennaro Bernile; University of Miami Vineet Bhagwat; George Washington University Aurora Genin; University of Massachusetts Amherst Wenting Ma; University of Massachusetts Amherst |
presented by: Wenting Ma, University of Massachusetts Amherst |
Discussant: Ting Xu, University of Virginia |
The Conglomerate Network |
By Kenneth Ahern; University of Southern California Lei Kong; The University of Alabama Xinyan Yan; University of Dayton |
presented by: Xinyan Yan, University of Dayton |
Discussant: Matteo Bizzarri, Università di Napoli Federico II and CSEF |
Session 50: Finance and Politics July 8, 2022 8:00 to 9:45 Location: Stream 2 |
Session Chair: Jiekun Huang, University of Illinois at Urbana-Champaign |
Investing with the Government: A Field Experiment in China |
By Emanuele Colonnelli; University of Chicago Bo Li; PBC School of Finance, Tsinghua University Ernest Liu; Princeton University |
presented by: Bo Li, PBC School of Finance, Tsinghua University |
Discussant: Celine (Yue) Fei, The University of North Carolina at Chapel Hill |
Smokestacks and the Swamp |
By Emilio Bisetti; Hong Kong University of Science and Technology Stefan Lewellen; Pennsylvania State University Arkodipta Sarkar; Hong Kong University of Science and Technology Xiao Zhao; Hong Kong University of Science and Technology |
presented by: Xiao Zhao, Hong Kong University of Science and Technology |
Discussant: Qifei Zhu, Nanyang Technological University |
Going Extreme: The Impact of Political Polarization on Corporate Investment |
By Julian Atanassov; University of Nebraska Brandon Julio; University of Oregon Tiecheng Leng; Sun Yat-sen University |
presented by: Tiecheng Leng, Sun Yat-sen University |
Discussant: Candace Jens, Tulane University |
Similarity Breeds Trust: Political Homophily and CEO-Board Communication |
By Sudipto Dasgupta; The Chinese University of Hong Kong Ran Guo; China-ASEAN Institute of Financial Cooperation Xiao Ren; The Chinese University of Hong Kong, Shenzhen Tao Shu; The Chinese University of Hong Kong, Shenzhen |
presented by: Xiao Ren, The Chinese University of Hong Kong, Shenzhen |
Discussant: Jongsub Lee, Seoul National University |
Session 51: FinTech and Blockchains July 8, 2022 8:00 to 9:45 Location: Stream 3 |
Session Chair: Baozhong Yang, Georgia State University |
Trust in DeFi: An Empirical Study of the Decentralized Exchange |
By Jianlei Han; Macquarie University Shiyang Huang; The University of Hong Kong Zhuo Zhong; University of Melbourne |
presented by: Jianlei Han, Macquarie University |
Discussant: Agostino Capponi, Columbia University |
Can Open Banking Substitute Credit Bureaus? |
By Kumar Rishabh; University of Basel |
presented by: Kumar Rishabh, University of Basel |
Discussant: Boris Vallee, Harvard University |
Fintech Expansion |
By Jing Huang; University of Chicago |
presented by: Jing Huang, University of Chicago |
Discussant: Chong Huang, University of California, Irvine |
An Economic Model of Consensus on Distributed Ledgers |
By Jiasun Li; George Mason University |
presented by: Jiasun Li, George Mason University |
Discussant: Thomas Rivera, McGill University |
Session 52: Humans and Connections July 8, 2022 8:00 to 9:45 Location: Stream 4 |
Session Chair: Xiaoyun Yu, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
Identifying the Effects of Entry on Local Innovation |
By Jing Xue; University of Maryland |
presented by: Jing Xue, University of Maryland |
Discussant: Yifei Mao, Cornell University |
Just Friends? Managers' Connections to Judges |
By Sterling Huang; Singapore Management University Sugata Roychowdhury; Northwestern University Ewa Sletten; The Ohio State University Yanping XU; Jinan University |
presented by: Sterling Huang, Singapore Management University |
Discussant: Frank Yu, China Europe International Business School |
Redeploying the Jockeys: The Intermediary Role of Venture Capital in Entrepreneurial Labor Markets |
By Zhongchen Hu; The Chinese University of Hong Kong, Shenzhen |
presented by: Zhongchen Hu, The Chinese University of Hong Kong, Shenzhen |
Discussant: Bo Bian, University of British Columbia |
Labor Coordination and Division: Human Capital Investment in Supply Chains |
By Ling Cen; The Chinese University of Hong Kong Michael Hertzel; Arizona State University Ziang Wang; The Chinese University of Hong Kong Jing Wu; The Chinese University of Hong Kong |
presented by: Ling Cen, The Chinese University of Hong Kong |
Discussant: Miao Ben Zhang, University of Southern California |
Session 53: Macro Finance and Policy July 8, 2022 8:00 to 9:45 Location: Stream 5 |
Session Chair: Jing Cynthia Wu, University of Notre Dame |
The Demand for Money, Near-Money, and Treasury Bonds |
By Arvind Krishnamurthy; Stanford University Wenhao Li; University of Southern California |
presented by: Wenhao Li, University of Southern California |
Discussant: Kairong Xiao, Columbia University |
Firm Financial Conditions and the Transmission of U.S. Monetary Policy |
By Thiago Ferreira; Federal Reserve Board Daniel Ostry; University of Cambridge John Rogers; Fudan University |
presented by: Daniel Ostry, University of Cambridge |
Discussant: Jingyi Zhang, Shanghai University of Finance and Economics |
Measuring Firm-Level Inflation Exposure: A Deep Learning Approach |
By Sudheer Chava; Georgia Institute of Technology Wendi Du; Georgia Institute of Technology Agam Shah; Georgia Institute of Technology Linghang Zeng; Babson College |
presented by: Wendi Du, Georgia Institute of Technology |
Discussant: Wenting Song, Bank of Canada |
The Debt Capacity of a Government |
By Bernard Dumas; INSEAD Paul Ehling; BI Norwegian Business School Chunyu Yang; BI Norwegian Business School |
presented by: Chunyu Yang, BI Norwegian Business School |
Discussant: Mindy Xiaolan, University of Texas at Austin |
Session 54: Options and Stocks July 8, 2022 8:00 to 9:45 Location: Stream 6 |
Session Chair: Xiaoyan Zhang, PBC School of Finance, Tsinghua University |
The Debt-Equity Spread |
By Hui Chen; Massachusetts Institute of Technology Zhiyao Nicholas Chen; The Chinese University of Hong Kong Jun Li; University of Texas at Dallas |
presented by: Zhiyao Nicholas Chen, The Chinese University of Hong Kong |
Discussant: Nancy Xu, Boston College |
Options Trading and Stock Price Informativeness |
By Jie Cao; The Chinese University of Hong Kong Amit Goyal; University of Lausanne Sai Ke; University of Houston Xintong Zhan; Fudan University |
presented by: Xintong Zhan, Fudan University |
Discussant: Tianyu Wang, Tsinghua University |
Firm Characteristics and Stock Price Levels: A Long-Term Discount Rate Perspective |
By Yixin Chen; University of Rochester Ron Kaniel; University of Rochester |
presented by: Yixin Chen, University of Rochester |
Discussant: Zhongjin Lu, University Of Georgia |
Why Does Options Market Information Predict Stock Returns? |
By Dmitriy Muravyev; Michigan State University Neil Pearson; University of Illinois at Urbana-Champaign Joshua Pollet; University of Illinois at Urbana-Champaign |
presented by: Neil Pearson, University of Illinois at Urbana-Champaign |
Discussant: David Weinbaum, Syracuse University |
Session 55: Retail Investor Behavior July 8, 2022 8:00 to 9:45 Location: Stream 7 |
Session Chair: Justin Birru, The Ohio State University |
Extrapolative Market Participation |
By Wanbin Pan; University of Science and Technology of China Zhiwei Su; Tsinghua University Huijun Wang; Auburn University Jianfeng Yu; Tsinghua University |
presented by: Zhiwei Su, Tsinghua University |
Discussant: Pengfei Sui, The Chinese University of Hong Kong, Shenzhen |
Fractional Trading |
By Zhi Da; University of Notre Dame Vivian Fang; University of Minnesota Wenwei Lin; University of Minnesota |
presented by: Wenwei Lin, University of Minnesota |
Discussant: Yushui Shi, Monash University |
Beliefs about Beta: Upside Participation and Downside Protection |
By Christoph Merkle; Aarhus University Michael Ungeheuer; Aalto University |
presented by: Christoph Merkle, Aarhus University |
Discussant: Joshua Della Vedova, University of San Diego |
Lie Flat After Winning the Rat Race |
By Yiqing Lu; New York University Shanghai Bin Zhao; Thammasat University Ning Zhu; Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University and University of California at Davis |
presented by: Yiqing Lu, New York University Shanghai |
Discussant: Yanbin Wu, University of Florida |
Session 56: Social Finance II July 8, 2022 8:00 to 9:45 Location: Stream 8 |
Session Chair: Hongjun Yan, DePaul University |
Geographic Links and Predictable Returns |
By Zuben Jin; Singapore Management University Frank Weikai Li; Singapore Management University |
presented by: Zuben Jin, Singapore Management University |
Discussant: Chen Wang, University of Notre Dame |
Visibility Bias in the Transmission of Consumption Beliefs and Undersaving |
By Bing Han; University of Toronto David Hirshleifer; University of Southern California Johan Walden; University of California, Berkeley |
presented by: Bing Han, University of Toronto |
Discussant: Lin Peng, Baruch College, The City University of New York |
Media Climate Change Concern and Stock Returns |
By Liya Chu; East China University of Science and Technology Jun Tu; Singapore Management University Luying Wang; Singapre Management University |
presented by: Liya Chu, East China University of Science and Technology |
Discussant: Wenxi Jiang, The Chinese University of Hong Kong |
Social Transmission Bias: Evidence from an Online Investor Platform |
By Pengfei Sui; The Chinese University of Hong Kong, Shenzhen Baolian Wang; University of Florida |
presented by: Pengfei Sui, The Chinese University of Hong Kong, Shenzhen |
Discussant: Jinfei Sheng, University of California, Irvine |
Session 57: Understanding Mutual Fund Performance July 8, 2022 8:00 to 9:45 Location: Stream 9 |
Session Chair: Hao Jiang, Michigan State University |
"Buy the Rumor, Sell the News": Liquidity Provision by Bond Funds Following Corporate News Events |
By Alan Huang; University of Waterloo Russell Wermers; University of Maryland Jinming Xue; Southern Methodist University |
presented by: Jinming Xue, Southern Methodist University |
Discussant: Ishita Sen, Harvard Business School |
An Anatomy of Long-Short Equity Funds |
By Li An; PBC School of Finance, Tsinghua University Shiyang Huang; The University of Hong Kong Dong Lou; London School of Economics Jiahong Shi; London School of Economics |
presented by: Jiahong Shi, London School of Economics |
Discussant: George Jiang, Washington State University |
Hidden Alpha |
By Lauren Cohen; Harvard University Stephan Heller; The University of St. Gallen |
presented by: Stephan Heller, The University of St. Gallen |
Discussant: Lin Sun, George Mason University |
Do Mutual Funds Walk the Talk? A Textual Analysis of Risk Disclosure by Mutual Funds |
By Jinfei Sheng; University of California, Irvine Nan Xu; Nankai University Lu Zheng; University of California, Irvine |
presented by: Nan Xu, Nankai University |
Discussant: Anton Lines, Columbia Business School |
Session 58: Behavioral Biases and Investments July 8, 2022 10:15 to 12:00 Location: Stream 1 |
Session Chair: Bing Han, University of Toronto |
Earnings Extrapolation and Predictable Stock Market Returns |
By Hongye Guo; University of Pennsylvania |
presented by: Hongye Guo, University of Pennsylvania |
Discussant: Cameron Peng, London School of Economics |
Harnessing the Overconfidence of the Crowd: A Theory of SPACs |
By Snehal Banerjee; University of California, San Diego Martin Szydlowski; University of Minnesota |
presented by: Martin Szydlowski, University of Minnesota |
Discussant: Uday Rajan, University of Michigan |
Stakes and Mistakes |
By Steffen Andersen; Copenhagen Business School Abhiroop Mukherjee; Hong Kong University of Science and Technology Kasper Meisner Nielsen; Copenhagen Business School |
presented by: Abhiroop Mukherjee, Hong Kong University of Science and Technology |
Discussant: Ning Zhu, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University and University of California at Davis |
Portfolio Rebalancing with Realization Utility |
By Min Dai; The Hong Kong Polytechnic University and National University of Singapore Cong Qin; Soochow University Neng Wang; Columbia University |
presented by: Cong Qin, Soochow University |
Discussant: Xuedong He, The Chinese University of Hong Kong |
Session 59: Capital Markets July 8, 2022 10:15 to 12:00 Location: Stream 2 |
Session Chair: Yuhang Xing, Rice University |
An Intertemporal Risk Factor Model |
By Fousseni Chabi-Yo; Isenberg School of Management Andrei Goncalves; University of North Carolina at Chapel Hill Johnathan Loudis; University of Notre Dame |
presented by: Andrei Goncalves, The Ohio State University |
Discussant: Raymond Kan, University of Toronto |
Main Street's Pain, Wall Street's Gain |
By Nancy Xu; Boston College Yang You; The University of Hong Kong |
presented by: Nancy Xu, Boston College |
Discussant: Jinfei Sheng, University of California, Irvine |
Why Naive 1/N Diversification Is Not So Naive, and How to Beat It? |
By Ming Yuan; Columbia University Guofu Zhou; Washington University in St. Louis |
presented by: Guofu Zhou, Washington University in St. Louis |
Discussant: Christopher Reilly, The University of Texas at Dallas |
Volatility and the Pricing Kernel |
By David Schreindorfer; Arizona State University Tobias Sichert; Stockholm School of Economics |
presented by: Tobias Sichert, Stockholm School of Economics |
Discussant: Ian Dew-Becker, Northwestern University |
Session 60: Corporate Governance July 8, 2022 10:15 to 12:00 Location: Stream 3 |
Session Chair: Yuhai Xuan, University of California, Irvine |
Profiting from Private Information on Rivals' Cyberattacks: Evidence from Informed Trading by Insiders Connected to Rival Firms |
By Jun-Koo Kang; Nanyang Business School Nanyang Technological University Jungmin Kim; The Hong Kong Polytechnic University Fangbo Si; Jinan University |
presented by: Jungmin Kim, The Hong Kong Polytechnic University |
Discussant: Chao Jiang, University of South Carolina |
The Mitigation of Reputational Risk via Responsive CSR: Evidence from Securities Class Action Lawsuits |
By Daewoung Choi; Louisiana State University in Shreveport Douglas Cook; University of Alabama M. Tony Via; Kent State University Weiwei Zhang; James Madison University |
presented by: Weiwei Zhang, James Madison University |
Discussant: Jared Wilson, Indiana University |
CEO Personal Reputation and Financial Misconduct |
By Zicheng Lei; King's College London Dimitris Petmezas; Durham University Raghavendra Rau; University of Cambridge Chen Yang; Durham University |
presented by: Zicheng Lei, King's College London |
Discussant: Feng Jiang, State University of New York at Buffalo |
Classified Boards: Endangered Species or Hidden in Plain Sight? |
By Scott Guernsey; University of Tennessee Feng Guo; Iowa State University Tingting Liu; Iowa State University Matthew Serfling; University of Tennessee |
presented by: Tingting Liu, Iowa State University |
Discussant: Lubomir Litov, University of Oklahoma |
Session 61: Debt and Incentives July 8, 2022 10:15 to 12:00 Location: Stream 4 |
Session Chair: Amiyatosh Purnanandam, University of Michigan |
The Paradox of Conservative Haircuts |
By Dmitry Chebotarev; INSEAD |
presented by: Dmitry Chebotarev, INSEAD |
Discussant: Dayin Zhang, University of Wisconsin-Madison |
Relative Pricing of Private and Public Debt: The Role of Money Creation Channel |
By Isha Agarwal; University of British Columbia Joyce Xuejing Guan; University of British Columbia |
presented by: Joyce Xuejing Guan, University of British Columbia |
Discussant: Thomas Flanagan, University of Michigan |
Going for Broke: Underwriter Reputation and the Performance of Mortgage-Backed Securities |
By Abe De Jong; Monash University Tim Kooijmans; Monash University Peter Koudijs; Erasmus University |
presented by: Tim Kooijmans, Monash University |
Discussant: Gonzalo Maturana, Emory University |
Merchants of Death: The Effect of Credit Supply Shocks on Hospital Outcomes |
By Cyrus Aghamolla; University of Minnesota Pinar Karaca-Mandic; University of Minnesota Xuelin Li; University of South Carolina Richard Thakor; University of Minnesota |
presented by: Xuelin Li, University of South Carolina |
Discussant: Daniel Weagley, Georgia Institute of Technology |
Session 62: Financial Stability and Asset Management July 8, 2022 10:15 to 12:00 Location: Stream 5 |
Session Chair: Jaewon Choi, University of Illinois at Urbana-Champaign |
LTCM Redux? Hedge Fund Treasury Trading and Funding Fragility |
By Mathias Kruttli; Federal Reserve Board Phillip Monin; Federal Reserve Board of Governors Lubomir Petrasek; Federal Reserve Board Sumudu Watugala; Cornell University |
presented by: Sumudu Watugala, Cornell University |
Discussant: Tao Li, University of Florida |
Sustainability or Performance? Ratings and Fund Managers' Incentives |
By Nickolay Gantchev; University of Warwick Mariassunta Giannetti; Stockholm School of Economics Rachel Li; University of Alabama |
presented by: Rachel Li, University of Alabama |
Discussant: Qifei Zhu, Nanyang Technological University |
The Unintended Consequences of Investing for the Long Run: Evidence from the Target Date Funds |
By Massimo Massa; INSEAD Rabih Moussawi; Villanova University Andrei Simonov; Michigan State University |
presented by: Andrei Simonov, Michigan State University |
Discussant: Ji Yeol Jimmy Oh, Hanyang University |
The Information in Portfolio Holdings and Investors' Capital Allocations |
By Bingkuan Cao; University of Maryland |
presented by: Bingkuan Cao, University of Maryland |
Discussant: Jeong Ho (John) Kim, Emory University |
Session 63: Financing: Debt and Trade Credit July 8, 2022 10:15 to 12:00 Location: Stream 6 |
Session Chair: Jarrad Harford, University of Washington |
Life Expectancy and Corporate Debt Markets |
By Zhanhui Chen; Hong Kong University of Science and Technology Vidhan Goyal; Hong Kong University of Science and Technology PINGYI LOU; Fudan University Wenjun Zhu; Nanyang Technological University |
presented by: Zhanhui Chen, Hong Kong University of Science and Technology |
Discussant: Jennie Bai, Georgetown University |
Trade Credit and the Stability of Supply Chains |
By Nuri Ersahin; Michigan State University Mariassunta Giannetti; Stockholm School of Economics Ruidi Huang; Southern Methodist University |
presented by: Nuri Ersahin, Michigan State University |
Discussant: Janet Gao, Indiana University |
Rating Agency Beliefs and Credit Market Distortions |
By Chen Wang; University of Notre Dame Gregory Weitzner; McGill University |
presented by: Chen Wang, University of Notre Dame |
Discussant: Dragon Yongjun Tang, The University of Hong Kong |
Financial Resilience in Labor Negotiations |
By Alessio Piccolo; Indiana University Roberto Pinto; Lancaster University |
presented by: Alessio Piccolo, Indiana University |
Discussant: Jiaping Qiu, McMaster University |
Session 64: Foreign Exchange Risks July 8, 2022 10:15 to 12:00 Location: Stream 7 |
Session Chair: Christian T. Lundblad, The University of North Carolina at Chapel Hill |
FX Option Volume |
By Robert Czech; Bank of England Pasquale Della Corte; Imperial College London Shiyang Huang; The University of Hong Kong Tianyu Wang; Tsinghua University |
presented by: Tianyu Wang, Tsinghua University |
Discussant: Steven Riddiough, University of Toronto |
Benchmark Currency Stochastic Discount Factors |
By Piotr Orlowski; HEC Montreal Valeri Sokolovski; HEC Montreal Erik Sverdrup; Graduate School of Business |
presented by: Valeri Sokolovski, HEC Montreal |
Discussant: Andreas Stathopoulos, University of North Carolina at Chapel Hill |
Technology Diffusion and Currency Risk Premia |
By Min Cui; T. Rowe Price Ilias Filippou; Washington University in St. Louis Siming Liu; Shanghai University of Finance and Economics |
presented by: Siming Liu, Shanghai University of Finance and Economics |
Discussant: Federico Gavazzoni, BI Norwegian Business School |
Digesting FOREXS: Information Transmission across Asset Classes and Return Predictability |
By Joon Woo Bae; Case Western Reserve University Zhi Da; University of Notre Dame Virgilio Zurita; Baylor University |
presented by: Joon Woo Bae, Case Western Reserve University |
Discussant: S. Katie Moon, University of Colorado Boulder |
Session 65: Information, Financial Markets, and Economy July 8, 2022 10:15 to 12:00 Location: Stream 8 |
Session Chair: Liyan Yang, University of Toronto |
Transparency at Debt Rollover and Startup Loans |
By Chong Huang; University of California, Irvine Fei Li; University of North Carolina at Chapel Hill Haibo Xu; Tongji University |
presented by: Haibo Xu, Tongji University |
Discussant: Briana Chang, University of Wisconsin |
Everlasting Fraud |
By Vivian Fang; University of Minnesota Nan Li; University of Minnesota Wenyu Wang; Indiana University Gaoqing Zhang; University of Minnesota |
presented by: Wenyu Wang, Indiana University |
Discussant: Ivan Marinovic, Stanford University |
Active vs. Passive: Information Acquisition in the Presence of Corporate Governance |
By Paula Cocoma; Frankfurt School of Finance and Management Jinyuan Zhang; University of California, Los Angeles |
presented by: Jinyuan Zhang, University of California, Los Angeles |
Discussant: Jesse Davis, University of North Carolina at Chapel Hill |
A Model of Influencer Economy |
By Lin William Cong; Cornell University Siguang Li; Cornell University |
presented by: Siguang Li, Cornell University |
Discussant: Itay Fainmesser, The Johns Hopkins University |
Session 66: Socially Responsible Investing July 8, 2022 10:15 to 12:00 Location: Stream 9 |
Session Chair: Kelly Shue, Yale University |
Do Retail Investors Trade on ESG? |
By Ran Chang; Shanghai Jiao Tong University Julie Wu; University of Nebraska - Lincoln Xiaoyan Zhang; PBC School of Finance, Tsinghua University Xinran Zhang; Central University of Finance and Economics |
presented by: Xinran Zhang, Central University of Finance and Economics |
Discussant: Jiangmin Xu, Guanghua School of Management, Peking University |
Do Managers Walk the Talk on Environmental and Social Issues? |
By Sudheer Chava; Georgia Institute of Technology Wendi Du; Georgia Institute of Technology Baridhi Malakar; Georgia Institute of Technology |
presented by: Wendi Du, Georgia Institute of Technology |
Discussant: Yingguang Zhang, Guanghua School of Management, Peking University |
Environmental Tournament: Evidence from Chinese Green Finance Pilot Zones |
By Zhiyao Deng; London School of Economics Dragon Yongjun Tang; The University of Hong Kong Yupu Zhang; University of Glasgow |
presented by: Yupu Zhang, The University of Hong Kong |
Discussant: Hanyi (Livia) Yi, Boston College |
Banking on Carbon: Corporate Lending and Cap-and-Trade Policy |
By Ivan Ivanov; Federal Reserve Board Mathias Kruttli; Federal Reserve Board Sumudu Watugala; Cornell University |
presented by: Mathias Kruttli, Federal Reserve Board |
Discussant: Aymeric Bellon, University of Pennsylvania |
Session 67: Delegated Portfolio Management July 8, 2022 13:00 to 14:45 Location: Stream 1 |
Session Chair: Lu Zheng, University of California, Irvine |
Financial Intermediaries vs. Capital Allocation: The Forgotten Role of Mutual Funds |
By Massimo Massa; INSEAD Hong Zhang; PBC School of Finance, Tsinghua University Yanbo Wang; SKK GSB, Seoul |
presented by: Yanbo Wang, SKK GSB, Seoul |
Discussant: Brian Boyer, Brigham Young University |
Informative Covariates, False Discoveries and Mutual Fund Performance |
By Po-Hsuan Hsu; National Tsing Hua University Ioannis Kyriakou; City University London Tren Ma; University of Glasgow Georgios Sermpinis; University of Glasgow |
presented by: Tren Ma, University of Glasgow |
Discussant: Qifei Zhu, Nanyang Technological University |
Tomorrow Is Another Day: Stocks Overweighted by Active Mutual Funds Predict the Next-Day Market |
By Shuaiyu Chen; Purdue University Yixin Chen; University of Rochester Randolph Cohen; Harvard Business School |
presented by: Yixin Chen, University of Rochester |
Discussant: Nan Xu, Nankai University |
Do Hedge Funds Strategically Misreport Their Holdings? Evidence from 13F Restatements |
By Sean Cao; Georgia State University Zhi Da; University of Notre Dame Xin Jiang; University of Waterloo Baozhong Yang; Georgia State University |
presented by: Xin Jiang, University of Waterloo |
Discussant: Chengdong Yin, Renmin University of China |
Session 68: Household Finance: Advisors, Nudges, and Beliefs July 8, 2022 13:00 to 14:45 Location: Stream 2 |
Session Chair: Stephan Siegel, University of Washington |
The Disparate Effect of Nudges on Minority Groups |
By Maya Haran Rosen; Hebrew University of Jerusalem and Bank of Israel Orly Sade; Hebrew University of Jerusalem |
presented by: Maya Haran Rosen, Hebrew University of Jerusalem and Bank of Israel |
Discussant: Erica Xuewei Jiang, University of Southern California |
Private Equity and Financial Adviser Misconduct |
By Albert Sheen; University of Oregon Youchang Wu; University of Oregon Yuwen Yuan; University of Oregon |
presented by: Yuwen Yuan, University of Oregon |
Discussant: Karim Farroukh, University of Washington |
Intrahousehold Disagreement about Macroeconomic Expectations |
By Da Ke; University of South Carolina |
presented by: Da Ke, University of South Carolina |
Discussant: Elena Pikulina, University of British Columbia |
Financial Advice and Retirement Savings |
By Daniel Hoechle; University of Applied Sciences and Arts Stefan Ruenzi; University of Mannheim Nic Schaub; WHU - Otto Beisheim School of Management Markus Schmid; University of St. Gallen |
presented by: Nic Schaub, WHU - Otto Beisheim School of Management |
Discussant: Jinyuan Zhang, University of California, Los Angeles |
Session 69: Real Estate Markets July 8, 2022 13:00 to 14:45 Location: Stream 3 |
Session Chair: Rossen Valkanov, University of California, San Diego |
Is There an Industrial Land Discount in China? A Public Finance Perspective |
By Zhiguo He; University of Chicago Scott Nelson; University of Chicago Yang Su; University of Chicago Anthony Lee Zhang; University of Chicago Fudong Zhang; Tsinghua University |
presented by: Anthony Lee Zhang, University of Chicago |
Discussant: Qinghua Zhang, Peking University |
Fertility and Savings: The Effect of China's Two-Child Policy on Household Savings |
By Scott Baker; Northwestern University Efraim Benmelech; Northwestern University Zhishu Yang; School of Economics and Management, Tsinghua University Qi Zhang; Durham University |
presented by: Qi Zhang, Durham University |
Discussant: Zhongchen Hu, The Chinese University of Hong Kong, Shenzhen |
An Invisible Oncologist: Health Implications of Financing Frictions |
By Alexandr Kopytov; The University of Hong Kong Tong Liu; University of Pennsylvania Haotian Xiang; Peking University |
presented by: Haotian Xiang, Peking University |
Discussant: Pierre Mabille, INSEAD |
Living Under Uncertainty: What Can Rental Housing Intermediaries Tell Us About Long-term Capital Supply? |
By Jiayin Hu; Peking University Shangchen Li; Peking University Yingguang Zhang; Guanghua School of Management, Peking University Zheng Zhang; Peking University |
presented by: Yingguang Zhang, Guanghua School of Management, Peking University |
Discussant: Alina Arefeva, University of Wisconsin-Madison |
Session 70: The Development of Chinese Firms and Banks July 8, 2022 13:00 to 14:45 Location: Stream 4 |
Session Chair: Jian Xue, Tsinghua University |
新时期的国有资本性质研究 |
By Shanmin Li; Sun Yat-sen University Jueting Zhou; Sun Yat-sen University Yilin Zhang; Sun Yat-sen University |
presented by: Jueting Zhou, Sun Yat-sen University |
Discussant: Zhangkai Huang, Tsinghua University |
中国式专利代理:助力技术创新还是粉饰专利申报? |
By Pengfei Han; Guanghua School of Management, Peking University Songnan Li; Peking University Chong LIU; Peking University |
presented by: Pengfei Han, Guanghua School of Management, Peking University |
Discussant: Tianyu Wang, Tsinghua University |
环保“双标”的经济后果研究:高管家乡身份与企业绿色创新 |
By Nianhang Xu; Renmin University of China Min Li; Renmin University of China Rongrong Xie; Central University of Finance and Economics |
presented by: Min Li, Renmin University of China |
Discussant: Qingyuan Li, Wuhan University |
同业风险传染、银行治理与系统脆弱性 |
By Pan Jun; Xiamen University |
presented by: Pan Jun, Xiamen University |
Discussant: Shuo Liu, Tsinghua University |
Session 71: Valuing Human Capital and Corporate Finance July 8, 2022 13:00 to 14:45 Location: Stream 5 |
Session Chair: Bernard Yeung, National University of Singapore |
Birds In A Cage: The Human Cost of Non-compete Covenants |
By Mingmei Liu; Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
presented by: Mingmei Liu, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University |
Discussant: Tai-Yuan Chen, Hong Kong University of Science and Technology |
Tournament Incentives and Insider Trading |
By Xiaoke Ye; City University of London |
presented by: Xiaoke Ye, City University of London |
Discussant: Tse-Chun Lin, The University of Hong Kong |
Help Your Employees, Help Your Firm: Evidence from U.S. Paid Sick Leave Mandates |
By Liangrong Chunyu; City University of London Xingchen Zhu; Vrije Universiteit Amsterdam |
presented by: Xingchen Zhu, Vrije Universiteit Amsterdam |
Discussant: Wenlan Qian, National University of Singapore |
Do Incidental Encounters Strengthen Economic Ties? Evidence from Venture Capital Syndication |
By Peter Pham; University of New South Wales Rastin Seysan; University of New South Wales Jason Zein; University of New South Wales |
presented by: Rastin Seysan, University of New South Wales |
Discussant: Alminas Zaldokas, Hong Kong University of Science and Technology |
This program was last updated on 2022-06-28 01:04:10 EDT