PROGRAM DETAILS (Preliminary)
Saturday, June 23, 2018, 8:30 am- 8:45 am
Opening Ceremony N302 (Chair: Yinggang Zhou)
Saturday, June 23, 2018, 8:45 am- 10:15 am
Keynote Speech I N302 (Chair: Ye Guo)
Development of Financial Economics
Gregory Chow, Princeton University
Keynote Speech II N302 (Chair: Haiwei Jing)
Corporate Actions and the Manipulation of Retail Investors:The Case of Stock Splits in China
Sheridan Titman, University of Texas at Austin
Saturday, June 23, 2018, 10:45 am – 12:15 pm
Labor & Finance N301
Xiaoran Ni, Xiamen University
Labor Market Immobility and Incentive Contract Design
Chen Lin, University of Hong Kong
Lai Wei, Lingnan University
Nan Yang, Hong Kong Polytechnic University
Controlling Shareholder Expropriation and Labor Investment Efficiency
Xiaoran Ni, Xiamen University
Institutional Investors and Employee Wages
Yao Lu, Tsinghua University
Zhang Peng, Tsinghua University
Zhufeng Xu, Tsinghua University
Shanghan Gao, Tsinghua University
Managerial Labor Market Competition and Agency Problems: The Impact of China’s Open-Market Recruiting Reform on Earnings Management
Yongxin Xu, Victoria University of Wellington
Gaoping Zheng, Southwestern University of Finance and Economics
Discussant:
Zhang Peng, Tsinghua University
Nan Yang, Hong Kong Polytechnic University
Yongxin Xu, Victoria University of Wellington
Xiaoran Ni, Xiamen University
Asset Pricing I N302
Tao Wu, Illinois Institute of Technology
Individual investor buying and individual investor selling around dividend announcement
Changfeng Ma, Shanghai National Institute of Accounting
William T. Lin, Tamkang University
The Correlated Trading and Investment Performance of Individual Investors
Wei-Yu Kuo, Chengchi University
Tse-Chun Lin, University of Hong Kong
Jing Zhao, The Hong Kong Polytechnic University
Diversification in Lottery-Like Features and Portfolio Pricing Discounts
Xin Liu, University of Bath
An Equilibrium Model with Buy and Hold Investors
Tao Wu, Illinois Institute of Technology
Discussant:
Jing Zhao, The Hong Kong Polytechnic University
Xin Liu, University of Bath
Tao Wu, Illinois Institute of Technology
Changfeng Ma, Shanghai National Institute of Accounting
Corporate Governance N303
Chao Ma, Xiamen University
The impact of holding bank ownership on investment efficiency: Evidence from China
Tianpei Luo, Curtin University
Gary Gang Tian, Macquarie University
Hongjian Wang, Jinan University
Huanming Yan, Nanchang University
Does Capital Structure Differently Affect Incumbents’ Responses to Entry Threat and Actual Entry?
Chao Ma, Xiamen University
Corporate Alliances, Resource Reallocation, and the Propagation of Merger Activity
Fernando Anjos, Nova School of Business and Economics
Haiwei Jing, Xiamen University
Independent Directors’ Board Network and Compensation - A Study on Listed Financial Companies in Taiwan
PeiLin Hsieh, Xiamen University
Ami Chang, Xiamen University
Qinqin Zhang, Xiamen University
Discussant:
Chao Ma, Xiamen University
Haiwei Jing, Xiamen University
Qinqin Zhang, Xiamen University
Hongjian Wang, Jinan University
Financail Econometrics N308
Tao Zeng, Zhejiang University
Specification Tests based on MCMC Output
Yong Li, Renmin University of China
Jun Yu, Singapore Management University
Tao Zeng, Zhejiang University
Systemic Risk Measures Evaluation and Application
Guojin Chen, Xiamen University
Yanzhen Liu, Xiamen University
Implied Cost of Capital versus Fundamental Valuation Efficiency: A Clarification and Empirical Implications
C.S. Agnes Cheng, Hong Kong Polytech University
Jing Fang, Hong Kong Polytech University
Modeling and forecasting jumps in returns by realized variation measures
Yi Liu, Hunan University
Huifang Liu, Hunan University
Lei Zhang, Hunan University
Discussant:
Yanzhen Liu, Xiamen University
Jing Fang, Hong Kong Polytech University
Huifang Liu, Hunan University
Tao Zeng, Zhejiang University
Saturday, June 23, 2018, 13:15 pm – 14:00 pm
Keynote Speech III N302 (Chair: Kuo Zhang)
Stock Connect
Kalok Chan, The Chinese University of Hong Kong
Saturday, June 23, 2018, 14:00 pm – 15:30 pm
Corporate Investment N301
Ming Gu, Xiamen University
Information asymmetry and credit rating: A quasi-natural experiment from China
Xiaolu Hu, RMIT University
Rachel Huang, RMIT University
Zheyao Pan, Macquarie University
Jing Shi, Macquarie University
Margin Trading and Corporate Investments: Evidence from a Quasi-natural Experiment in China
G. Nathan Dong, Columbia University
Ming Gu, Xiamen University
Weiwei Huang, Renmin University of China
K.C. John Wei, Hong Kong Polytechnic University
Do Social Connections Mitigate Hold-up? Evidence from Relation-Specific Investment and Innovation in Vertical Relationships
Sudipto Dasgupta, Chinese University of Hong Kong, Lancaster University and CEPR
Kuo Zhang, Xiamen University
Chenqi Zhu, New York University
Institutional Multiple Holdings and Corporate Innovation
Bin Qiu, Missouri Western State University
Discussant:
Ming Gu, Xiamen University
Zheyao Pan, Macquarie University
Bin Qiu, Missouri Western State University
Kuo Zhang, Xiamen University
Anomolies N302
Qian Han, Xiamen University
Book-to-Market Ratio and Inflexibility: The Effect of Unrecorded R&D Capital
Yuan Li, University of Cambridge
Have We Explained the Accrual Anomaly? An Evaluation Based on the Decomposition Method
Zhuo Huang, Peking University
Dawei Lin, Peking University
Zhimin Qiu, Peking University
That is not my dog: why doesn’t the log dividend-price ratio seem to predict future log returns or log dividend growth?
Philip H. Dybvig, Washington University in Saint Louis
Huacheng Zhang, Southwest University of Finance and Economics
Dissecting the Effectiveness of Firm Financial Strength in Predicting Chinese Stock Market
Fuwei Jiang, Central University of Finance and Economics
Fujing Jin, Central University of Finance and Economics
Guohao Tang, Hunan University
Discussant:
Zhimin Qiu, Peking University
Huacheng Zhang, Southwest University of Finance and Economics
Fujing Jin, Central University of Finance and Economics
Yuan Li, University of Cambridge
Stock Returns N303
Lei Zhao, ESCP Europe
Loss Probability and the Cross Section of Expected Stock Returns
Ji Cao, Nankai University
Marc Oliver Rieger, University of Trier
Lei Zhao, ESCP Europe
Medical Innovation, Labor Productivity, and the Cross Section of Stock Returns
Tong Zhou, Sun Yat-Sen University
Profitability, Asset Investment, and Aggregate Stock Returns
Timothy K. Chue, Hong Kong Polytechnic University
Jin Xu, Hong Kong Polytechnic University
Model Selection, Idiosyncratic Volatility, and Stock Returns
Chengbo Fu, University of Manitoba
Gady Jacoby, University of Manitoba
Lei Lu, University of Manitoba
Discussant:
Tong Zhou, Sun Yat-Sen University
Jin Xu, Hong Kong Polytechnic University
Chengbo Fu, University of Manitoba
Lei Zhao, ESCP Europe
Saturday, June 23, 2018, 16:00 pm – 17:30 pm
China Economy N301
Weiyi Cai, Xiamen University
Forecasting China's economic growth by deep learning what macroeconomic news says
Tiejun Wang, Minnan Normal University
Zhengyu Liu, Minnan Normal University
Yaqin Pan, Minnan Normal University
The Time Series Fluctuation and Regional Difference of Growth Quality in China's Financial Industry
Rongrong Shi, Northwest University
Baoping Ren, Northwest University
Lu Lu, Northwest University
Does loan growth lead to insolvency? Evidence from Greater China region
Farrukh Shahzad, Chongqing University
Jing Lu, Chongqing University
Zeeshan Fareed, Zhongnan University of Economics and Law
Tigers and Flies: Discretion and Expertise in the Chinese Anti-corruption Campaign
Philip H. Dybvigy, Washington University in Saint Louis
Yishu Fu, Southwestern University of Finance and Economics
Discussant:
Rongrong Shi, Southeast University
Farrukh Shahzad, Chongqing University
Yishu Fu, Southwestern University of Finance and Economics
Tiejun Wang, Minnan Normal University
Asset Pricing II N302
Junye Li, ESSEC Business School
Option-Implied Variance Asymmetry and the Cross-Section of Stock Returns
Tao Huang, Xi'an Jiaotong-Liverpool University
Junye Li, ESSEC Business School
Bid and Ask Prices of Index Put Options: Who Tell the Truth of Underlying Stock Return
Jian Chen, Xiamen University
Yangshu Liu, Xiamen University
Bad Volatility is not always Bad: Evidence from Commodity Markets
Yahua Xu, Central South University
Tai-yong Roh, Auckland University of Technology
Solving asset pricing models via nonparametric two stage penalized b-spline regression
Yongmiao Hong, Cornell University, Xiamen University
Yingxing Li, Xiamen University
Discussant:
Yangshu Liu, Xiamen University
Yahua Xu, Central South University
Junye Li, ESSEC Business School
Fund Activism N303
Li Zhang, Nanyang Technological University
The beta anomaly and mutual fund performance
Paul Irvine, Texas Christian University
Jeong Ho (John) Kim, Emory University
Jue Ren, Texas Christian University
Do mutual funds exit when they win contentious votes at shareholder meetings?
Li Zhang, Nanyang Technological University
The Economic Consequences of Mutual Fund Advisory Misconduct
Kai Wu, Cornell University
Is the Active Fund Management Industry Concentrated Enough?
David Feldman, University of New South Wales
Konark Saxena, University of New South Wales
Jingrui Xu, Xiamen University
Discussant:
Li Zhang, Nanyang Technological University
Kai Wu, Cornell University
Jingrui Xu, Xiamen University
Jue Ren, Texas Christian University
Sunday, June 24, 2018, 8:30 am – 10:00 am
Keynote Speech IV N302 (Chair: Jingrui Xu)
Women on Boards: The Superheroes of Tomorrow?
Renee Adams, The University of New South Wales
Keynote Speech V N302 (Chair: Haiqiang Chen)
Useless Factors
Raymond Kan, University of Toronto
Sunday, June 24, 2018, 10:30 am – 12:00 noon
Asset Pricing III N301
Yang Gao, The University of Sydney
Information Percolation, The 52-Week High, and Short-Term Reversal in Stock Returns
Zhaobo Zhu, Shenzhen Audencia Business School - Shenzhen University
Licheng Sun, Old Dominion University
Chris Stivers, University of Louisville
Kai Zhang, Shenzhen Audencia Business School - Shenzhen University
Investing with cryptocurrencies - A liquidity constrained investment approach
Simon Trimborn, National University of Singapore
Mingyang Li, Xiamen University
Wolfgang Karl Härdle, Humboldt-Universität zu Berlin, Singapore Management University
Partial Moment Momentum
Yang Gao, The University of Sydney
Henry Leung, The University of Sydney
Stephen Satchell, The University of Sydney, University of Cambridge
Estimating Order Imbalance Using Low-Frequency Data
JinGi Ha, Singapore Management University
Jianfeng Hu, Singapore Management University
Discussant:
Mingyang Li, Xiamen University
Yang Gao, The University of Sydney
Jianfeng Hu, Singapore Management University
Zhaobo Zhu, Shenzhen Audencia Business School - Shenzhen University
Macro Finance N302
Shugeng Dai, Xiamen University
Research on the Dynamic Correlation between RMB Exchange Rate and Short-term Capital Flow
Shugeng Dai, Xiamen University
Bo Yu, Xiamen University
Foreign Reserves, Bilateral Currency Swap and Liquidity Shock
Quan Yang, Xiamen University
Qiuju Yang, Xiamen University
Mortgage Receivable Delay Risk: Evaluation and Securitization
Chao Ma, Xiamen University
Hao Zhang, Country Garden Asset Management Company
Hongbiao Zhao, Shanghai University of Finance and Economics
The Effect of GSE Mortgage Purchases on Lenders’ Screening Incentives
Jun Lu, Central University of Finance and Economics
Zhen Shi, Georgia State University
Wei Yu, California State Polytechnic University
Discussant:
Qiuju Yang, Xiamen University
Chao Ma, Xiamen University
Jun Lu, Central University of Finance and Economics
Shugeng Dai, Xiamen University
Credit Allocation N303
Xiang Li, Tsinghua University
Policy Uncertainty and Household Credit Access: Evidence from Peer-to-Peer Crowdfunding
Xiang Li, Tsinghua University
Bibo Liu, Tsinghua University
Xuan Tian, Tsinghua University
When They Work with Women, Do Men Get All the Credit?
Shusen Qi, Xiamen University
Steven Ongena, University of Zurich, Swiss Finance Institute, KU Leuven and CEPR
Hua Cheng, Nankai University
Peer Information on the Cost of Debt
Yangming Bao, Goethe University Frankfurt
Bank Relationship, Covenant Enforcement and Creditor Control
Yong Kyu Gam, Southwestern University of Finance and Economics
Chunbo Liu, Southwestern University of Finance and Economics
Discussant:
Shusen Qi, Xiamen University
Yangming Bao, Goethe University Frankfurt
Chunbo Liu, Southwestern University of Finance and Economics
Xiang Li, Tsinghua University
Stakeholders N308
Yue Pan, Xiamen University
Which corporate social deeds matter? Evidence from the motivated institutional ownership
Jiun-Lin Chen, Adelaide Business School
Wenbin Liao, Jiangxi University of Finance and Economics
Ping-Wen Sun, Jiangxi University of Finance and Economics
Disclosure for Whom? The Value of CSR Report in China
Antai Li, Huazhong University of Science and Technology
Xinping Xia, Huazhong University of Science and Technology
Shen Xu, Huazhong University of Science and Technology
Xia Chen, Huazhong University of Science and Technology
Large Customers and the Value of Firm Diversification
Zhenxu Tong, University of Exeter
Mengyu Wang, University of Exeter
When Short Seller Meets Government Stakeholder: The Case of Corporate
Jingbo Luo, Jiangxi University of Finance and Economics
Xiaoran Ni, Xiamen University
Discussant:
Antai Li, Huazhong University of Science and Technology
Zhenxu Tong, University of Exeter
Jingbo Luo, Jiangxi University of Finance and Economics
Wenbin Liao, Jiangxi University of Finance and Economics
Sunday, June 24, 2018, 13:15 pm – 14:00 pm
Keynote Speech VI N302 (Chair: Xiaoran Huang)
What is the impact of successful cyberattacks on target firms?
Jun-Koo Kang, Nanyang Technological University
Sunday, June 24, 2018, 14:00 pm – 15:30 pm
金融风险 N301
Yang Ji, Xiamen University
扩张政策背景下政府隐性或有负债对经济增长的影响 ——基于对国有企业的隐性担保角度
Min Guo, University of International Business and Economics
Yixuan Duan, University of International Business and Economics
促进金融稳定的国家治理体系建设研究
Guohua He, Wuhan University
Jing Tong, Wuhan University, Central South University of Forestry and Technology
我国城市经济增长转型：投资驱动、债务风险与现金流增长
Shuang Qiu, Xiamen University
高溢价并购的达摩克斯之剑：商誉与股价崩盘风险
Mingmao Deng, Shanghai University of International Business and Economics,
Shanghai University of Finance and Economics
Rong Lu, Shanghai University of Finance and Economics
Discussant:
Jing Tong, Wuhan University
Shuang Qiu, Xiamen University
Mingmao Deng, Shanghai University of International Business and Economics
Yixuan Duan, University of International Business and Economics
Corporate Finance N302
Juanjuan Huang, Xiamen University
When is Cash King? International Evidence on the Value of Cash Across the Busines Cycle
Jiaxing You, Xiamen University
Ling Lin, University of Massachusetts
Juanjuan Huang, Xiamen University
Min Xiao, Xiamen University
Does the disclosure of internal control deficiency matter for accrual quality under a weak institutional environment?
Kebin Deng, South China University of Technology
Fang Hu, Griffith University
Gary Tian, Macquarie University
Ziying Zhong, Guangdong University of Foreign Stuides
Agency Conflicts, Institutional Quality, and Tax Aggressiveness
Iftekhar Hasan, Fordham University
Jing Xing, Shanghai Jiao Tong University
Hui Zhou, University of Melbourne
MM命题: 重新思考
Dengta Chen, Xiamen University
Does industrial policy affect the company's cash dividends?- Empirical findings based on China's capital market
Qingfeng Cai, Xiamen University
Yihui Chen, Xiamen University
Discussant:
Kebin Deng, South China University of Technology
Hui Zhou, University of Melbourne
Dengta Chen, Xiamen University
Yihui Chen, Xiamen University
Juanjuan Huang, Xiamen University
Asset Pricing IV N303
Peilin Hsieh, Xiamen University
Information Event Intensity and Stock Return Synchronicity: Evidence from Credit Rating Changes
Haoyu Gao, Central University of Finance and Economics
Junbo Wang, City University of Hong Kong
Junchao Xiao, The Hong Kong Polytechnic University
Dynamic credit default swaps curves in a network topology
Xiu Xu, Soochow University
Cathy Yi-Hsuan Chen, Humboldt-Universität zu Berlin
Wolfgang Karl Härdle, Humboldt-Universität zu Berlin,Singapore Management University
Evaluating the Impacts of Bond Pricing Misspecification on Forecasted Funding Ratio
Jing Li, Xi'an Jiaotong University
Evaluating Consumption CAPM under Heterogeneous Preferences
Min Cui, Indiana University
Discussant:
Xiu Xu, Soochow University
Jing Li, Xi'an Jiaotong University
Min Cui, Indiana University
Haoyu Gao, Central University of Finance and Economics
Sunday, June 24, 2018, 16:00 pm – 17:30 pm
Stock Market N301
Yubo Liu, Xiamen University
How Do the Media Influence Government Decisions? Evidence from Initial Public Offering Approval Decisions in China
Zhi Jin, Southwestern University of Finance and Economics
Gary Gang Tian, Macquarie University
Yanling Wu, Macquarie University
Does Corporate Hedging Affect Firm Value? Evidence from the IPO Market
Zheng Qiao, Xiamen University
Chongwu Xia, Xiamen University
Lei Zhang, Nanyang Technological University
Short Selling and Tax Avoidance
Yao Lu, Tsinghua University
Zhang Peng, Tsinghua University
Luyao Liu, Morgan Stanley
Heterogeneity of institutional ownership and stock price delay
Jiun-Lin Chen, Adelaide Business School
Shih-Cheng Lee, Yuan-Ze University
Chien-Ting Lin, Deakin University
Pingwen Sun, Jiangxi University of Finance and Economics
Discussant:
Chongwu Xia, Xiamen University
Zhang Peng, Tsinghua University
Pingwen Sun, Jiangxi University of Finance and Economics
Yanling Wu, Macquarie University
Banking N302
Stephanie Chan, Xiamen University
Regulatory forbearance, CoCos, and Bank risk-shifting
Stephanie Chan, Xiamen University
Sweder van Wijnbergen, Universiteit van Amsterdam, Tinbergen Institute
The Selection of Strategic Investors and Cost Efficiency of City Commercial Banks
Ye Guo, Xiamen University
Zhen Huang, Xiamen University
Ruoqi Yao, Xiamen University
Bank-Firm distance and Private firms Financing
Shuoxun Zhang, Xiamen University
Xu Du, Xiamen University
Move a Little Closer? Information Sharing and the Spatial Clustering of Bank Branches
Shusen Qi, Xiamen University
Ralph De Haas, EBRD and Tilburg University
Steven Ongena, University of Zurich, Swiss Finance Institute, KU Leuven and CEPR
Stefan Straetmans, Maastricht University, University of Antwerp
Discussant:
Zhen Huang, Xiamen University
Xu Du, Xiamen University
Shusen Qi, Xiamen University
Stephanie Chan, Xiamen University
国际金融 N303
Wenbin Xu, Xiamen University
人民币汇率与境内外股票市场波动溢出效应研究——基于三元BEKK-GARCH模型
Lihua Wu, Xiamen University
Lianbin Zeng, Xiamen University
“人无贬基”日子里看“害怕浮动”的非对称性
Jianping Ding, Shanghai University of Finance and Economics
Hao Hu, Shanghai University of Finance and Economics
Wei Ye, Shanghai University of Finance and Economics
新兴市场国家“二元悖论”现象成因探析——基于外汇储备积累视角
Kun Zhang, University of International Business and Economics
Mei Yu, University of International Business and Economics
经常账户失衡、汇率安排与储备需求
Mengnan Zhu, Xiamen University
Chunyu Cao, Xiamen University
Discussant:
Jianping Ding, Shanghai University of Finance and Economics
Kun Zhang, University of International Business and Economics
Chunyu Cao, Xiamen University
Lihua Wu, Xiamen University
