ABFER Full Event Schedule

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  • Asian Bureau of Finance and Economic Research (ABFER)

    2nd Conference, 2629 May 2014, Singapore The Shangri-La, Hotel Singapore

    Updated as of 17 May 2014 (Details subjected to changes)

    26 May 2014 (Monday)

    27 May 2014 (Tuesday)

    28 May 2014 (Wednesday)

    29 May 2014 (Thursday)

    9.00am-9.30am Registration and Welcome

    Venue: Entrance of Banyan Room

    Workshop Track 1: International Macroeconomics, Money & Banking Takeo Hoshi, Ilian Mihov, Andrew Rose

    Venue: Banyan Room

    9.30am-10.35am Real Exchange Rates and Sectoral Productivity in the

    Eurozone Martin Berka (Auckland), Michael B. Devereux (British

    Columbia), Charles Engel (Wisconsin) Discussant: Shu Lin (Fudan), Helen Popper (SCU)

    9.30am-10.35am The Offshore Renminbi Exchange Rate:

    Microstructure and Links to the Onshore Market Yin-Wong Cheung (CUHK),

    Dagfinn Rime (BI Norwegian) Discussant: Charles Engel (Wisconsin), Andrew

    Rose (UCB)

    9.30am-10.35am Lending Pro-Cyclicality and Macro-Prudential Policy:

    Evidence from Japanese LTV Ratios Arito Ono (Mizuho), Hirofumi Uchida (Kobe), Gregory

    Udell (Indiana), and Iichiro Uesugi (Hitotsubashi) Discussant: Shu Lin (Fudan), Kim Sun Bae (NUS)

    9.30am-10.35am Lehman Sisters

    Renee B. Adams (UNS), Vanitha Ragunathan (Queensland) Discussant: Ross Levine (UCB), Craig Brown (NUS)

    10.35am-10.55am Coffee Break

    Venue: Tower Foyer

    10.55am-12.00pm Global Value Chains and Eective Exchange Rates at

    the Country-Sector Level Nikhil Patel (Columbia), Zhi Wang (USITC), Shang-Jin

    Wei (Columbia) Discussant: Martin Berka (Auckland), Giorgio Valente


    10.55am-12.00pm China's Growth, Stability, and Use of International

    Reserves Joshua Aizenman (USC), Yothin Jinjarak (UOL),

    Nancy P. Marion (Dartmouth) Discussant: Shang-Jin Wei (Columbia), Helen

    Popper (SCU)

    10.55am-12.00pm Investing Like China

    Chong-En Bai (Tsinghua), Qing Liu (Tsinghua), Wen Yao (Tsinghua)

    Discussant: Steve Davis (Chicago), Takeo Hoshi (Stanford)

    10.55am-12.00pm Risk Shifting and Excessive Trade Volatility

    Assaf Razin (Cornell), Anuk Serechetapongse (IMF) Discussant: Martin Bodenstein (NUS), Pushan Dutt


    11:30am2:00pm Lunch

    Venue: The Line

    12:00pm1:30pm Academic Roundtable Luncheon

    Human Capital, Labor Markets and Development Panelists: Steve Davis (Chicago) Chair, Chang-Tai

    Hsieh (Chicago), Hongbin Li (Tsinghua) Venue: Acacia Ballroom

    11:30am2:00pm Lunch

    Venue: The Line

    11.30am-2.00pm Lunch

    Venue: Acacia Ballroom

    Workshop Track 2: Corporate Finance Jun-Koo Kang, Randall Morck, Bernard Yeung

    Venue: Banyan Room


    Panel Discussion Information for Better Markets: How do we improve

    market efficiency? Presenters: Charles Lee (Stanford),

    Randall Morck (Alberta) Discussants: Ke Bin (NTU), Harrison Hong (Princeton)

    1.30pm-2.15pm Busted! Now What? Effects of Cartel Enforcement

    on Firm Value and Policies Ailin Dong (HKUST), Massimo Massa (INSEAD),

    Alminas aldokas (HKUST) Discussant: Per Stromberg (Chicago)

    1.00pm-1.45pm Do More Transparency & Disclosure Necessarily Enhance

    Firm Performance? Suman Banerjee (NTU), Ronald Masulis (UNSW),

    Sarmistha Pal (Surrey) Discussant: T J Wong (CUHK)

    12.30pm-1.15pm The Impact of Governance Reform on Board Functioning and Firm Value: Evidence from the Post-SOX Directorial

    Labor Market Jun-Koo Kang (NTU), Jungmin Kim (NTU), Angie Low (NTU)

    Discussant: Alexander Ljungqvist (NYU)

    2.20pm-3.05pm Product Market Competition Shocks, Firm

    Performance, and CEO Turnover Sudipto Dasgupta (HKUST), Xi Li (HKUST), Albert

    Wang (CUHK) Discussant: Sun Qian (Fudan)

    1.50pm-2.35pm CEO Turnover and Earnings Management in Banks:

    Evidence Using Age-based Retirement Policies Arkodipta Sarkar (ISB), Krishnamurthy Subramanian (ISB),

    Prasanna Tantri (ISB) Discussant: Anand Srinivasan (NUS)

    1.20pm-2.05pm Financial Flexibility and Corporate Cash Policy

    Tao Chen (CUHK), Jarrad Harford (Washington), Chen Lin (UHK)

    Discussant: Vidhan K. Goyal (HKUST)

    3.10pm-3.55pm Harnessing CEO Overconfidence

    Suman Banerjee (NTU), Mark Humphery-Jenner (UNSW), Vikram Nanda (Rutgers)

    Discussant: Kasper Meisner Nielsen (HKUST)

    2.40pm-3.25pm Public Debate and Stock Prices: Evidence from the Voting

    Premium Fabio Braggion (Tilburg), Mariassunta Giannetti

    (Stockholm) Discussant: Yupana Wiwattanakantang (NUS)

    2.10pm-2.55pm Smart and Illicit: Who Becomes an Entrepreneur and Does

    it Pay? Ross Levine (UCB), Yona Rubinstein (LSE)

    Discussant: Renee B. Adams (UNS)

    3.00pm-4.00pm Coffee Break

    Venue: Tower Foyer

    3.30pm-4.30pm Coffee Break

    Venue: Tower Foyer

    3.00pm-4.30pm Coffee Break

    Venue: Tower Foyer

    2.30pm-3.30pm Coffee Break

    Venue: Tower Foyer

    Workshop Track 3: Investment Finance Allaudeen Hameed, Deng Yong Heng, Massimo Massa, Melvyn Teo

    Venue: Banyan Room

    3.30pm-4.15pm Who are the Sentiment Traders? Evidence from the

    Cross-section of Stock Returns and Demand Luke DeVault (Arizona), Richard Sias (Arizona), Laura

    Starks (Texas) Discussant: Gennaro Bernile (SMU)

    4.00pm-4.45pm When Real Estate is the Only Game in Town

    Hyun-Soo Choi (SMU), Harrison Hong (Princeton), Jeffrey D. Kubik (Syracuse), Jeffrey P. Thompson

    (FRB) Discussant: Sing Tien Foo (NUS)

    3.30pm-4.15pm The Information Value of Credit Rating Reports

    Sumit Agarwal (NUS), Vincent Chen (NUS), Weina Zhang (NUS)

    Discussant: Lei Zhang (NTU)

    3.00pm-3.45pm Low Latency Trading and Comovement of Order Flow and

    Prices Ekkehart Boehmer (EDHEC),R. L. Shankar (EDHEC)

    Discussant: Qing Tong (SMU)

    4.20pm-5.05pm Short-Term Reversals and the Efficiency of Liquidity

    Provision Si Cheng (QUM), Allaudeen Hameed (NUS), Avanidhar

    Subrahmanyam (UC), Sheridan Titman (Texas) Discussant: Tarun Chordia (Emory)

    4.50pm-5.35pm One Fundamental and Two Taxes: When Does a

    Tobin Tax Reduce Financial Price Volatility? Yongheng Deng (NUS), Xin Liu (NUS),

    Shang-Jin Wei (Columbia) Discussant: Wenlan Qian (NUS)

    4.20pm-5.05pm How Fast Can the Market Get It? Evidence from Alliance

    Synergies Massimo Massa (INSEAD), Chengwei Wang (INSEAD), Hong

    Zhang (INSEAD) Discussant: Baolian Wang (HKUST)

    3.50pm-4.35pm Till Death Do Us Part: Marital Events and Hedge Funds

    Melvyn Teo (SMU), Sugata Ray (Florida), Yan Lu (UF) Discussant: Bruce D. Grundy (Melbourne)

    5.10pm-5.55pm The Pricing of Corporate Foreign Trade Risk

    Yakov Amihud (NYU), Eli Bartov (NYU), Baolian Wang (HKUST)

    Discussant: Sugata Ray (Florida)

    5.40pm-6.25pm Preferred Habitats and Safe-Haven Effects: Evidence from the London Housing Market

    Cristian Badarinza (Oxford), Tarun Ramadorai (Oxford)

    Discussant: Tu Yong (NUS)

    5.10pm-5.55pm How Binding are Limits to Arbitrage?

    Alexander Ljungqvist (NYU), Wenlan Qian (NUS) Discussant: Charles Lee (Stanford)

    4.40pm-5.25pm Mutual Fund Competition, Managerial Skill, and Alpha

    Persistence Gerard Hoberg (Maryland), Nitin Kumar (Maryland),

    Nagpurnanand Prabhala (Maryland) Discussant: Clemens Sialm (Texas)

    5.45pm-6.15pm Reception & Registration

    Venue: Casuarina / Acacia Ballroom

    6.30pm-7.00pm Break

    5.45pm-6.15pm Reception & Registration

    Venue: Casuarina / Acacia Ballroom

    5.30pm End of Conference

    6.15pm-7.30pm Industry Panel and Round Table

    The Use of Research in Risk Management : Perspectives from Industry Practitioners

    Panelists: Elbert Pattijn (DBS), Paul Bernard, CFA (TTS), Kate Chiew (NTUC Income), Sung Cheng Chih

    (MOF/MAS/GIC) Chair Venue: Casuarina / Acacia Ballroom

    7.00pm-9.00pm ABFER Senior Fellow Meeting

    Venue: Acacia Ballroom

    6.15pm-7.30pm Industry Panel and Round Table

    Investments in Asia Forum: Has Asia Reached its Full Potential?

    Panelists: Timothy Zee (PAG), Michael Syn (SGX), Charles Lee (Standford), Liew Tzu Mi (GIC), Madhabi Puri Buch

    (Agora), Joseph Cherian (NUS/CAMRI) Chair Venue: Casuarina / Acacia Ballroom

    7.30pm-9.30pm Welcome Speech

    Bernard Yeung (NUS)

    Keynote Speech and Welcome Dinner The Why, What and How of Long-term Investing

    Sung Cheng Chih (MOF/MAS/GIC) Venue: Casuarina / Acacia Ballroom

    7.30pm-9.30pm Welcome Speech

    Tan Chorh Chuan (NUS)

    Keynote Speech and Gala Dinner What we are learning about Sustainable and Defective

    Growth Patterns: Experience in Developed and Developing countries

    Michael Spence (NYU) Venue: Casuarina / Acacia Ballroom