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Past Seminars
Index by year:
1996
6 Sept
Chu Zhang, University of Alberta
Two-pass Tests of Asset Pricing Models with Useless Factors
9 Sept
John Moore, London School of Economics
Credit Chains and Systemic Risk
13 Sept
Bhagwan Chowdhry, UCLA
Why Real Interest Rates, Cost of Capital and Price/Earnings Ratios Vary
Across Countries
27 Sept
Richard Stapleton, University of Lancaster
The Valuation of American Options with Stochastic Interest Rates: A
Generalization of the Geske-Johnson technique
4 Oct
Tom Berglund, Hong Kong University of Science & Technology
Exchange Rate Devaluation and Peso Phenomena in Stock Returns
11 Oct
Peter Ritchken, Case Western Reserve University
Empirical Tests of Two State-Variable Heath-Jarrow-Morton Models
18 Oct
Sudipto Dasgupta, Hong Kong University of Science & Technology
Tender Offers, Proxy Contests and Large Shareholder Activism
25 Oct
Sanjiv Das , Havard Business School
A Theory of Optimal Timing and Selectivity
1 Nov
Joseph Fan, Hong Kong University
Corporate Governance and Investment Policy: A Study of U.S. Petrochemical
Firms
8 Nov
James B. Kau, University of Georgia
An Option-Theoretic Model of Catastrophes Applied to Mortgage Insurance
15 Nov
Goufu Tan, Hong Kong University of Science & Technology
Complements, Substitutes, and Strategic Divestiture (joint seminar with
Economics Dept)
22 Nov
Stuart L. Gillan, The University of Hong Kong
Shareholder Activism and Institutional Investors: The Effects of
Corporate-Governance-Related Proposals
29 Nov
Jin C. Duan, Hong Kong University of Science & Technology
American GARCH Option Pricing by a Markov Chain Approximation
6 Dec
Jhinyoung Shin, Hong Kong University of Science & Technology
Public Disclosures: Strategic Donation of Information
13 Dec
Keiichi Kubota, Musashi University
Income Risk and the Cross-section of Average Returns on Stocks: Some
Insights from the Japanese Stock Market
20 Dec
Andrew Carverhill, Hong Kong University of Science & Technology
Interest Rate Dynamics: the Volatility and Shape at the Long End
[Back to top]
1997
31 Jan
Kunal Sengupta, Jawaharlaj Nehru University
Learning in a Bargaining Model
31 Jan
Lane Hughston, Merrill Lynch International, London
International Models for Interest Rates and Foreign Exchange
14 Feb
Keith Wong, Hong Kong University
IPO and Product Quality
14 Mar
Wilson Tong, Hong Kong University of Science & Technology
Return Asymmetry During Non-Trading Periods and the Monday Effect
25 Apr
Chu Zhang, Hong Kong University of Science & Technology
A Mechanism Design Approach to the Choice of Underwriting Method in Initial
Public Offerings
5 May
M. P. Narayanan, University of Michigan
Disentangling Value : Misvaluation and the Scope of the Firm
16 May
John Wei, Hong Kong University of Science & Technology
Institutional Investors' Ordering Strategies and Their Impact on the
Subsequent Price Changes : Evidence from Taiwan
23 May
Ann Sherman, Hong Kong University of Science & Technology
Informed Investor Allocations in Book Building IPOs
26 May
William T. Ziemba, University of British Columbia and Consultant,
Frank Russell Company
Progress in Developing and Implementing Asset and Liability Models
Special Seminar in Financial Mathematics
2 Jun
Marco Avellaneda, NYU & Morgan Stanley
Option Risk-Management and Uncertain Volatility
Organiser : Department of Mathematics, HKUST
Special Seminar in Financial Mathematics
4 Jun
Marco Avellaneda, NYU & Morgan Stanley
Option Pricing and Hedging with Transaction Costs,
Organiser : Department of Mathematics, HKUST
5 Jun
Jerome B. Detemple, McGill University
Intertemporal Asset Pricing with Incomplete Markets and Nontraded Assets
6 Jun
Bong-Soo Lee, University of Houston,
Stock Returns and Inflation with Supply and Demand Disturbances
22 Jul
Milton Harris, University of Chicago
Capital Budgeting & Delegation
28 Jul
Robert Korajczyk, Northwestern University
On Selection Biases in Book-to-Market Based Tests of Asset Pricing Models
7 Aug
Tim P. Bollerslev, The University of Virginia
Long-Run Volatility Dependence and High-Frequency Speculative Returns
13 Aug
Douglas W. Diamond, University of Chicago
Liquidity, Banks, and Markets.
14 Aug
Warren Bailey, Cornell University
How Important Was Silver? Some Evidence on Exchange Rate Fluctuations and
Stock Returns in Colonial-Era Asia
22 Aug
Andrew Karolyi, The University of Western Ontario
The Effects of Market Segmentation and Illiquidity on Asset Prices :
Evidence from Foreign Stocks Listing in the U.S.
29 Aug
Hyun-Han Shin, California Polytechnic State University
Are internal capital markets efficient?
8 Oct
Ked Hogan, Barclays Global Investors, San Francisco
Building Advanced Active Strategies
17 Oct
Ron Anderson, HKUST and Catholic University of Louvain
Strategic Analysis of Contingent Claims
24 Oct
Vidhan Goyal, HKUST
The maturity structure of corporate debt in Japan
31 Oct
Chuan Yang Hwang, HKUST
Trading Activity at the Turn of the Year; A Microstructure perspective
7 Nov
Yuming Fu, City University
What drives Stock and Real Estates Risk and Return, the REITS Puzzle
14 Nov
Kalok Chan, HKUST
Profitability of Momentum Strategies in the International Equity Markets
21 Nov
Ronald Schramm, HKUST and Columbia University
Optimal Financial Contracts in the Presence of Nontraded Goods. (Ricardo
Meets the CAPM)
28 Nov
Takeshi Yamada, HKUST
Investment and financing behavior of Japanese firms: Did managers dance to
the bubble?
3 Dec
Ravi Anshuman, Indian Institute of Management
Order flow dynamics, price impact, and flow of information around stock
splits
5 Dec
Jiang Wang, MIT
Trading Volume: Definitions, Data Analysis, and Implications of Portfolio
Theory
12 Dec
Jean-Guy Simonato, HEC (Montreal)
An Analytical Approximation for the GARCH Option Pricing Model
16 Dec
Lynn Pi, HKUST
Learning Dynamics, Genetic Algorithms, and Corporate Takeovers
19 Dec
Tim Adam, HKUST
Risk Management in the Gold Mining Industry
[Back to top]
1998
16 Jan
Xianming Zhou, University of Sydney
Executive Compensation Disclosure and Managerial Incentive Contracts
16 Mar
Carl Chiarella, University of Technology - Sydney
Pricing American Bond Options In A Heath-Jarrow-Morton Framework
27 Mar
Ingrid M. Werner, Stanford University
The Trades of NYSE Floor Brokers
3 Apr
Vidhan Goyal, HKUST
Growth Opportunities and Corporate Financial Policies: The Case of the U.S.
Defense Industry, 1980-1995
20 Apr
Keehong Bae, City University of Hong Kong
Limit Orders, Depth and Volatility
24 Apr
Jin Duan, HKUST
Option Pricing under Regime Switching
1 May
Jhinyoung Shin, HKUST
Insider Trading and Product Market Competition
15 May
Steven Wei, HKUST
Circuit Breaker and Stock Market Volatility
20 May
Roger Huang, Vanderbilt University
FX Spreads and Dealer Competition Across the 24 Hour Trading Day
22 May
Andrew Carverhill, HKUST
Modelling long rates via the Kalman Filter
29 May
Ronald W. Anderson, HKUST & Catholic University of Louvain (Belgium)
Enterprise Restructuring and Banking Reform: Lessons From Eastern Europe
Since 1990
5 Jun
Kwok Kam Hong, Johnny, HKUST
Market Segmentation in China Stock Market
9 Jun
Michael Brennan, UCLA
Stock Price Volatility, Learning, and the Equity Premium
10 Jun
Philip Dybvig, Washington University
Asset Allocation and the Spending Rule: Strategies for Managing Educational
Endowments
12 Jun
Stanley R. Pliska, University of Illinois at Chicago
Risk Sensitive Asset Allocation : Economic Theory and Computational Results
16 Jun
Zhaohui Chen, International Monetary Fund
Financial Crisis and Financial Intermediation - with Reference to the Asian
Financial Crisis
3 Jul
Sheridan Titman, HKUST
The Going Public Decision and the Development of Financial Markets
8 Jul
Keiichi Kubota, Musashi University
Stock Returns, State Variables, and the Evolution of Aggregate Endowments :
A Business Cycle Approach
9 Jul
Zi-You Yu, Shanghai University of Finance and Economics
Characteristics Analysis of Capital Financing in China
10 Jul
Jacky So, Federal Reserve Bank in Chicago
The Statistical Behavior of Black Market Exchange Rates :Preliminary
Evidence from Six Asian Countries
15 Jul
David Hirshleifer, University of Michigan
Investor Overconfidence, Covariance Risk, and Predictors of Securities
Returns
17 Jul
Sudipto Dasgupta, HKUST
Corporate Focus, Divestitures and Divisional Cross-Subsidization
9 Oct
Jin Duan, HKUST
Option Valuation with Co-integrated Asset Prices
30 Oct
Jevons Lee, Dept. of Accounting, HKUST
An Adaptive Evolutionary Approach to Option Pricing via Genetic Programming
6 Nov
Joseph Fan, HKUST
The Nature of Diversification
13 Nov
John Wei, HKUST
The Capital Investment Puzzle: Investment Opportunities, Agency Costs or
Expectational Errors?
20 Nov
Chuan Yang Hwang, HKUST
The Impact of Tick Size on Market Quality: An Empirical Investigation of the
Stock Exchange of Hong Kong
27 Nov
Maurice Ewing, HKUST
Systemic Risk and Contingent Payments
8 Dec
Duane Seppi, Carnegie Mellon University
Liquidity-Based Competition for Order Flow
11 Dec
Hua He, Convergence Asset Management
Double Lookbacks
[Back to top]
1999
22 Jan
Joseph P. Kairys, Jr, Vytautas Magnus University
Winners and Losers from the Introduction of Continuous
Variable Price Trading: Evidence from the Riga Stock
Exchange
29 Jan
Marie Sushka, Arizona State University
An Analysis of Contagion and Competitive Effects at
Commercial Banks
12 Feb
James Kung, Hong Kong University of Science & Technology
Inefficiency of Some Fixed Income Portfolio Strategies When
the Short Rate is Mean-Reverting
26 Feb
Jan Ericsson, Catholic University of Louvain
Debt Restructuring, Investment Incentives and Capital
Structure
19 Mar
Li Xia, Hong Kong University of Science & Technology
Nonparametric American Option Pricing
26 Mar
Andrew Carverhill, Hong Kong University of Science &
Technology
Commodity Futures and Fowards: the HJM Approach
9 Apr
Hung-Jen Wang, Academia Sinica
Exogenous Cash: Testing Financing Constraints on Inventory
Investment
Using Dynamic Panels With Additional Information From Annual
Reports
16 Apr
Vidhan Goyal, Hong Kong University of Science & Technology
Restrictive Covenants and Pricing of Bank Debt: Do
Subordinated Debtholders Market Discipline Bank Risk Taking?
23 Apr
Kalok Chan, Hong Kong University of Science & Technology
Trade Size, Order Imbalance, and the Volatility-Volume
Relation
7 May
Jeffrey Pontiff, University of Washington
Damages in Corporate Lawsuits : The Impact of Deep Pockets
14 May
Keehong Bae, Hong Kong University of Science & Technology
Limit Orders, Depth, and Volatility
19 May
Yan Yuhong, Hong Kong University of Science & Technology
The Pricing of Hong Kong Derivatives Warrants
21 May
Tim Adam, Hong Kong University of Science & Technology
Do Market to Book Ratios Measure Growth Opportunities?
Evidence from the Mining Industry
11 Jun
Joseph Fan, Hong Kong University of Science & Technology
Expropriation of Minority Shareholders in East Asia
23 Jun
Bing Liang, Case Western Reserve University
Do Mutual Funds with Longer Track Records Outperform?
Evidence from Small-Cap Funds
27 Aug
Ming Huang, Stanford University
Prospect Theory and Asset Prices
14 Sep
Keiichi Kubota, Musashi University
Financial Sector Value and the CAPM: Evidence from Tokyo
Stock Exchange Firms
22 Oct
John Wei, Hong Kong University of Science & Technology
On the Demand Elasticity of Initial Public Offerings: An
Analysis of Discriminatory Auctions
29 Oct
Xueping Wu, City University
Options on the Minimum or the Maximum of Two Average Prices
12 Nov
Maurice Ewing, Hong Kong University of Science & Technology
Coordinated Liquidation and Disorderly Workouts
19 Nov
Andrew Carverhill, Hong Kong University of Science &
Technology
Implied Volatility, Historical Volatility, Open Interest,
and the Skew, in Yen and S&P500 Futures Options
22 Nov
Carl Chiarella, University of Technology, Sydney
The Evaluation of Point Barrier Options in a Path Integral
Framework
14 Dec
Hong Yan, The University of Texas at Austin
Uncertain Growth Prospects, Estimation Risk, and Asset
Prices
[Back to top]
2000
- 17 Jan
Yuming Li, California State University-Fullerton
Expected Returns and Habit Persistence
14 Feb
Maureen O'Hara, Cornell University
Is Information Risk a Determinant of Asset Returns?
21 Feb
Chungsheng Zhou, University of California at Riverside
An Adaptive Expectations Model of Asset Price Under- and Over-Reactions
25 Feb
Ray Chou, Institute of Economics, Academia Sinica
On cross-moment dependence for high frequency data
28 Feb
Maureen O'Hara, Cornell University
The Market Structure and Microstructure Research
24 Mar
Andrew Carverhill, Hong Kong University of Science & Technology
Skew-GARCH and the Smirk
31 Mar
George Constantinides, University of Chicago
Asset Pricing with Heterogeneous Consumers and Limited participation: Empirical
Evidence (Video Seminar)
7 Apr
Ming Liu, The Chinese University of Hong Kong
Modeling Residential Mortgage Prepayment:A Competing Risks Approach
14 Apr
Chu Zhang, Hong Kong University of Science & Technology
Statistical and Economic Significance of Stock Return Predictability: A
Mean-Variance Analysis
28 Apr
Su Han Chan, The University of Hong Kong
Institutional Investors and the Monday Effect
12 May
Kee-Hong Bae, Hong Kong University of Science & Technology
A new approach to measuring financial contagion
19 May
Utpal Bhattacharya, Indiana University
The World Price of Insider Trading
29 May
Hong Liu, Washington University
Optimal Portfolio Selection with Transaction Costs and Finite Horizons
9 Jun
Jay Ritter, University of Florida
Why Don't Issuers Get Upset About Leaving Money on the Table in IPOs?
(Video Seminar)
7 Jul
Ren-Raw Chen, Rutgers University
An Arbitrage-Free Model in a Multi-Asset Economy
21 Jul
Sheridan Titman, HKUST
Structural Models in Corporate Finance
28 Jul
Robert Engle, University of California - San Diego
Trades and Quotes: A Bivariate Point Process
(Economics & Finance Joint Seminar)
18 Aug
Ravi Jagannathan, HKUST
Choosing The Right Covariance Matrix Estimator: Myth And Reality
1 Sep
Wong Tak Po, HKUST
Stock Price Elasticity Evidence from an order driven market
15 Sep
Vidhan Goyal, HKUST
Testing the Pecking Order Theory of Capital Structure
22 Sep
David Webb, HK Mensa
Corporate Governance Investigation in Hong Kong - a Practical Guide
(Joint Finance & Accounting Seminar)
29 Sep
Nai-fu Chen, HKUST
Currency Board for the 21st Century with a Fisherian Banking System
13 Oct
Maurice Ewing, HKUST
Imperfect Enforcement, Finance and the Law
18 Oct
Harold Mulherin, Penn State University
Comparing acquisitions and divestitures
20 Oct
Harold Mulherin, Penn State University
Is there Really a When-Issued Premium?
27 Oct
Xueping Wu, City University
Keiretsu membership, firm size, and corporate returns on value and cost
3 Nov
Jin Zhang, City University
A Semi-analytical Method for Pricing and Hedging Continuously-sampled Arithmetic
Average Rate Options
10 Nov
Leslie Young, The Chinese University of Hong Kong
Debt, Agency Costs and Institutions
17 Nov
Bruce Lehmann, University of California-San Diego
The Role of Beliefs in Inference for Rational Expectations Models
24 Nov
Bong-Chan Kho, Seoul National University
Do domestic investors have better information than foreign investors?
Evidence from Korea
27 Nov
Bruce Lehmann, University of California-San Diego
Learning from Asset Prices in the Absence of Arbitrage
1 Dec
Paul Brockman, Hong Kong Polytechnic University
Managerial Timing and Corporate Liquidity: Evidence from Actual Share
Repurchases
15 Dec
Lewis Chan, HKUST
Catching Up with the Joneses: Heterogeneous Preferences and the Dynamics of
Asset Prices
22 Dec
Olivier Scaillet, Université Catholique de Louvain
Sensitivity Analysis of Values at Risk
[Back to top]
2001
- 16 Feb
Kalok Chan, HKUST
Investability and Return Volatility in Emerging Equity Markets
2 Mar
Vidhan Goyal, HKUST
On the Patterns and Wealth Effects of Vertical Mergers
9 Mar
Jia He, The Chinese University of Hong Kong
Investing in Technology Innovations: Empirical Evidence and Model Fitting
16 Mar
Junxi Zhang, The University of Hong Kong
Securities Transaction Tax and Market Volatility
23 Mar
Xianming Zhou, City University of Hong Kong
Performance Thresholds in Incentive Contracts
30 Mar
Sudipto Dasgupta, HKUST
Financial Constraints, the Option to Invest, and Corporate Cash
Balances
6 Apr
Shing-yang Hu, National Taiwan University
Trade Direction in Order-driven Markets - Definition, Inference, and Evidence
20 Apr
John Wei, HKUST
Institutional Order Submission Strategies, Execution Costs, and Opportunity
Costs
27 Apr
Vicentiu Covrig, Nanyang Technological University
Do domestic and foreign fund managers have similar preferences for stock
characteristics? A cross-country analysis
4 May
Ronen Israel, The University of Michigan
The Boundaries of the Firm: The Choice Between Stand-Alone and Integrated Firms
9 May
Shinn-Juh Lin, National Tsing Hua University
Wavelet Analysis of the Cost-Of-Carry Model
11 May
Konan Chan, National Taiwan University
Earnings Quality and Stock Returns:The Evidence from Accruals
15 May
Jay Ritter, University of Florida
Investment Banking and Securities Issuance
1 Jun
Yexiao Xu, The University of Texas at Dallas
Investigating Underperformance by Mutual Fund Portfolios
5 Jun
Hayne Leland, University of California, Berkeley
Beyond Mean-Variance: Risk and Performance Measurement with Asymmetric Returns
11 Jun
Bob Kimmel, Princeton University
Modeling the Term Structure of Interest Rates: A New Approach
15 Jun
Takeshi Yamada, HKUST
Interaction of Investor Types
26 Jun
Jie Gan, Columbia University
1)Self-Discipline and Bank Risk Taking: Evidence from the Texas Real Estate
Crisis in the 1980s
2) Loans and Marketable Securities: The Capital-Structure and Asset-Risk
Decisions of Financial Institutions
3 Jul
Hong Yan, University of Texas at Austin
The Utility Costs of Consumption/Portfolio Rules in Partial and General
Equilibrium
28 Sep
John Wei, HKUST
Capital Investments and Stock Returns
5 Oct
John Wei, HKUST
Corporate Groups, Capital Investments and Stock Returns in Japan
12 Oct
Isaac Otchere, University of Melbourne
Economic Disturbance Hypothesis of Aggregate Merger Activity: A Dynamic Analysis
of the Relationship between Mergers and Share Price
18 Oct
Alex Chan, The University of Hong Kong
A Theory of Currency Board with Commitments
9 Nov
Jin Zhang, HKUST
Hedging Volatility Risk
16 Nov
Qiao Liu, University of Hong Kong
Information Production, Analyst Following and Diversification Discount: A Market
Microstructure Approach
22 Nov
Tarun Khanna, Harvard Business School
Globalization and Corporate Governance Convergence? A Cross-Country Analysis
(Accounting & Finance Joint Seminar)
30 Nov
Masaharu Hanazaki, Hitotsubashi University
An International Comparison of Corporate Investment Behavior - Some Implications
for the Governance Structure in Japan
7 Dec
P. Raghavendra Rau, Purdue University
Do Bidders Hire Top-Tier Investment Banks to Certify Value?
10 Dec
Avanidhar Subrahmanyam, UCLA
(1) Order Imbalance and the Cross-Section of Expected Stock Returns
(2) Order Imbalance, Liquidity, and Market Returns
17 Dec
Jianping Mei, Stern School of Business, NYU
Testing the Duo-factor-model of Return and Volume
[Back to top]
2002
- 22 Jan
Gifford Fong, President of Gifford Fong Associates
New Approaches to Credit Analysis of Securities and Portfolios
1 Feb
Cheol Park, HKUST
Monitoring and Efficiency : The Choice between Bank Loans & Public Debt
8 Feb
James Wang, Thunderbird, The American Graduate School of
International Management
Inter-Dealer Trading in Financial Markets
12 Apr
Tim Adam, HKUST
Why Firms Use Non-Linear Hedging Strategies
24 Apr
Jhinyoung Shin, Ajou University
Strategic Futures Trading in Oligopoly
26 Apr
Yihong Xia, The Wharton School of University of Pennsylvania
A Simple Model of Intertemporal Capital Asset Pricing and Its Implications
for the Fama-French Three-Factor Model
31 May
Peter Swan, University of New South Wales, Sydney
Agency Problems are Ameliorated by Stock Market Liquidity:
Monitoring, Information and the Use of Stock-Based Compensation
3 Jun
Lu Zheng, University of Michigan
Family Values and the Star Phenomenon
7 Jun
Lorenzo Garlappi, University of Texas at Austin
Portfolio selection with multiple risky assets and capital gains taxes
14 Jun
John Heaton, University of Chicago
Asset Pricing and Wealth
21 Jun
Yong-Cheol Kim, University of Wisconsin-Milwaukee
Failure of Internal Control in the Japanese Main Bank System
28 Jun
Jin-Chuan Duan, University of Toronto
Nonparametric Option Pricing by Transformation
12 Jul
Chu Zhang, HKUST
Why did Individual Stocks Become More Volatile?
19 Jul
Jun Qian, Boston College
Buy-side Analysts, Sell-side Analysts, and Information Transmission: Theory
and Evidence
13 Sep
Mark Latham, A financial economist and consultant
Democracy and Infomediaries
27 Sep
YiLin Wu, HKUST
The Signalling Roles of Equity-Selling Mechanism Choices
4 Oct
Bong-Soo Lee, University of Houston
An Empirical Test of the Accounting-based Residual Income Model and the
Traditional Dividend Discount Model
7 Oct
Guojun Wu, University of Michigan
Stock Market Manipulation: Theory and Evidence
25 Oct
Guochang Zhang, Accounting Department, HKUST
On the Relation Between Stock Returns and Accounting Fundamentals: Theory
and Evidence
4 Nov
Keiichi Kubota, Musashi University
Common Risk Factors vs. Mispricing Factor of Tokyo Stock Exchange Firms:
Inquiries into the Fundamental Price Derived from Analysts' Earnings
Forecasts
8 Nov
Kalok Chan, HKUST
Stock Price Synchronicity and Analyst Coverage in Emerging Markets
15 Nov
Vidhan Goyal, HKUST
The Capital Structures of Publicly Traded American Firms
22 Nov
Jiang Luo, HKUST
Capital Budgeting in Multi-Division Firms: Information, Agency and
Incentives
29 Nov
Tim Adam, HKUST
Are there speculative components in corporate hedging and do they add value?
2 Dec
Ming Xu, HKUST
Is the Bankruptcy Risk Rewarded by Higher Expected Returns?
- Evidence from Japan 1985-2000
6 Dec
Olan Henry, University of Melbourne
The Impact of Short Selling on the Price-Volume Relationship: Evidence from
Hong Kong
9 Dec
Sudipto Dasgupta, HKUST
Capital Structure Theories: Some New Tests
13 Dec
Tony Sanders, Ohio State University
International Real Estate Returns: A Multifactor, Multicountry Approach
20 Dec
Hugh Luckock, University of Sydney
A Model Limit Order Market
[Back to top]
2003
-
30 Jan
Jivendra KALE, St. Mary's College of California
Growth Optimization With Downside Protection, A New Paradigm For Portfolio
Selection
14 Feb
Don KIM, Stanford University
The Term Structure of Real Interest Rates
17 Feb
Sonya Seongyeon LIM, The Ohio State University
Do Investors Integrate Losses and Segregate Gains?
21 Feb
Tao LIN, Duke University
Under- and Over-Reaction from Relative and Aggregate Overconfidence
28
Feb
Jonathan WANG, SAS Institute
Fooling all of the people some of the time: A theory of endogenous sequencing in
confidential negotiations
3
Mar
Hui Ou-YANG, Duke University
An Equilibrium Model of Asset Pricing and Moral Hazard
7
Mar
Henry CAO, University of North Carolina
Model Uncertainty, Limited Market Participation and Asset Prices
14
Mar
Nai-fu CHEN, UC Irvine
Financial Innovations and Banking Reform
21 Mar
Tim RIDDIOUGH, University of Wisconsin
Default, Reorganization and Liquidation: Theory and Evidence
26 Mar
Stephen FIGLEWSKI, New York University
Assessing the Incremental Value of Option Pricing Theory Relative to an "Informationally
Passive" Benchmark
28 Mar
Qiang KANG, Hong Kong University
Stock Trading, Information Production and Incentive Pay
11 Apr
Johnny KWOK, HKUST
Cross-listing, volatility and liquidity under market segmentation: Evidence from
Chinese stock market
16
Apr
Xin CHANG, HKUST
Capital Structure Theories: Some New Tests
M2 ay
Chuan-Yang HWANG, HKUST
52-Week High and Momentum Investing
9 May
Jie GAN, HKUST
Collateral channel and credit cycle: evidence from the land-price collapse in
Japan
16
May
SBM Best PhD Student Research Paper Presentation
17
Jun
Zhiwu CHEN, Yale School of Management
Discounts on Illiquid Stocks: Evidence from China
20
Jun
Jin DUAN, University of Toronto
Executive Stock Options and Incentive Effects due to Systematic Risk
30
Jun
Jianping MEI, New York University
Speculative Trading and Stock Prices: An Analysis of Chinese A-B Share Premia
8
Aug
Yexiao XU, The University of Texas at Dallas
Extracting Factors with Maximum Explanatory Power
S9 ep
Gilles Hilary, Dept of Accounting, HKUST
(Brown Bag Seminar)Shareholder activism in Japan: social pressure, private cost
and organized crime
3
Oct
Mark S. Seasholes, UC Berkeley
Location Effects and Portfolio Tilting
8
Oct
Fan YU, U.C. Irvine
Accounting transparency and the term structure of credit spreads
24
Oct
Lixin HUANG, City U.
Portfolio Selection with Return Predictability and Periodically Observable State
Variables
31 Oct
Xianming ZHOU, HKU
Raising Capital and the Pricing of New Issues
7 Nov
Gary TWITE, Australian Graduate School of Management
An International Comparison of Capital Structure and Debt Maturity Choices
11 Nov
Gilles Hilary, Dept of Accounting, HKUST
(Brown Bag Seminar)Analyst Following and Capital Structure
14 Nov
Alberto MOEL, HKUST
The Role of Expectations in Explaining the Cross-Section of Stock Returns
17 Nov
Bernard Y. YEUNG, New York University
Corporate Stability and Economic Growth
21 Nov
Chitru FERNANDO, University of Oklahoma
Wanna Dance? How Firms and Underwriters Choose Each Other
5 Dec
Tom VINAIMONT, City U.
One-Share One-vote
12 Dec
Jie GAN, HKUST
The value of banking relationships
19 Dec
TSE Yiu Kuen, Singapore Management University
Marked durations and their implications for market microstructure
[Back to top]
2004
12 Jan
Rebel A. Cole, DePaul University
Expropriation, Regulation, and Firm Value: Evidence from Events in China
16 Jan
Liuren WU, Zicklin School of Business, Baruch College
Variance Risk Premia
9 Feb
Kevin WANG, University of Toronto
Variable Selection for Conditional Asset Pricing: An Out-of-Sample Analysis
13 Feb
Zhe ZHANG, University of Iowa
Uncertainty Risk and Cross-sectional Returns: Theory and Evidence
20 Feb
Jun TU , Washington University in St. Louis
Are Bull and Bear Markets Economically Important?
23 Feb
Leping WANG, University of Pennsylvania
Investing when Volatility Fluctuates
27 Feb
Nan LI, University of Chicago
Intangible Risk?
5 Mar
Jason C. HSU, Anderson School at UCLA
A Model of R&D Valuation and the Design of Research Incentives
8 Mar
Hong ZHANG, Yale School of Management
Dynamic Beta, Time-Varying Risk Premium, and Momentum
10 Mar
Mungo Wilson, Harvard University
A Model of Demand for Dividend Strips
19 Mar
Jin ZHANG, HKUST
Implied Volatility Smirk
26 Mar
Xiaoyan ZHANG, Cornell University
The Cross-Section of Volatility and Expected Returns
2 Apr
James WANG, HKUST
CEO selection and compensation with asymmetric information and moral hazard
23 Apr
Hung Wan KOT, HKUST
What determines short interest level
30 Apr
Gilles HILARY, ACCT, HKUST
The effect of institutional factors on project selection
7 May
Jennifer HUANG, University of Texas, Austin
Transaction costs, liquidity and asset prices
14 May
Kai LI, University of British Columbia
Decoupling CEO Wealth and Firm Performance : The Case of Acquiring CEOs
21 May
Ming HUANG, Standford University
Individual Preferences, Monetary Gambles and the Equity Premium
7 Jun
Albert J. Menkveld, Vrije Universiteit Amsterdam
Round-the-Clock Price Discovery for Cross-Listed Stocks: U.S.-Dutch Evidence
11 Jun
James BOOTH, Arizona State University
IPO as a Liquidity Event: How Accumulation Constraints Generate New Issue Underpricing
15 Jun
Jiang WEI, Columbia Business School
The 1/N Heuristic in 401(k) Plans
16 Jun
Lewis TAM, HKUST
Cost of Equity Changes around Carve-out Transactions
18 Jun
Andrew Carverhill, University of Hong Kong
The Smirk in the S&P500 Futures Options Prices: a Linearized Factor Analysis
16 Aug
Murray Z. Frank, University of British Columbia
Sell on News? The Market Impact of Corporate News Stories
3 Sep
Sunil Wahal, Emory University
The Selection and Termination of Investment Managers by Plan Sponsors
10 Sep
Tim Adam, HKUST
Financial Constraints, Competition and Hedging in Industry Equilibrium
17 Sep
John Wei, HKUST
Corporate Governance, Agency Costs, and Expected Stock Returns: Evidence
from Analysts’ Earnings Forecasts
24 Sep
Andrew Carverhill, HKU
A Model of Corporate Liquidity
8 Oct
Chuan-yang Hwang, HKUST
Long Term Reversal: Overreaction or Taxes?
29 Oct
Liu, Qiao, HKU
Does Competition Discipline Firms? The Case of Corporate Profit Hiding in
China
5 Nov
Chun Chang, University of Minnesota
Informational Efficiency and Liquidity Premium as the Determinants of
Capital Structure
12 Nov
Lee Hon Sing, Nanyang Business School
Intermediation and Risk Aversion
15 Nov
Peter Mackay, Southern Methodist University
The Value of Corporate Risk Management
19 Nov
Josh Pollet, University of Illinois at Urbana-Champaign
Strategic Release of Information on Friday: Evidence from Earnings
Announcements
26 Nov
Huang, Lixin, CityU
Money and Banking in Search Equilibrium
3 Dec
Sergei Sarkissian, McGill University
The Dynamics of Geographic versus Sectoral Diversification: Is There a Link
to the Real Economy?
10 Dec
Ruy Ribeiro, University of Pennsylvania
Predictable Dividends and Returns: Identifying the Effect of Future
Dividends on Stock Prices
17 Dec
Man-Keung Tang, Harvard University
Evaluation and Resource Allocation in Firms
[Back to top]
200 5
14 Jan
Louis Chan, University of Illinois at Urbana-Champaign
Earnings Quality and Stock Returns
17 Jan
Louis Chan, University of Illinois at Urbana-Champaign
Brown Bag Seminar
21 Jan
Emst Maug, Humboldt University of Berlin
Lower Salaries and No Options?
On the Optimal Structure of Executive Pay
26 Jan
Bruno Strulovici, Stanford University
Performance-Sensitive Debt
28 Jan
Kai Li, University of British Columbia
Effective Monitoring: The Value of Large, Independent, Long-term
Shareholders
31 Jan
Kai Li, University of British Columbia
The Growth in Equity Market Size and Trading Activities: An
International Study
7 Feb
Tapio P. Pekkala, University of Chicago
Does Poor Diversification Explain the Small-Firm Effect?
18 Feb
Peyron Law, Stanford University
Macro Factors and the Yield Curve
21 Feb
Nengjiu Ju, University of Maryland
Asset Substitution and Underinvestment:A Dynamic View
25 Feb
Guojun Wu, University of Michigan
Predictable Behavior, Profits, and Attention
28 Feb
Sinan Tan, New York University
Labor Income Dynamics at Business-cycle Frequencies: Implications for
Portfolio Choice
4 Mar
Laura Liu, University of Rochester
Do firms have target leverage ratios? Evidence from historical
market-to-book and past returns
14 Mar
Harold H. Zhang, The University of North Carolina at Chapel Hill
Optimal Life-Cycle Asset Allocation with Housing as a Collateral
16 Mar
Frank Yu, University of Chicago
Analyst Coverage and Earnings Management
17 Mar
Anand Vijh, University of Iowa
Incentive Effects of Illiquid Stock and Option Holdings of Target and
Acquirer CEOs
1 Apr
Jiang Luo, HKUST
A theory of socialistic internal capital market
8 Apr
Ronald W. Masulis, Vanderbilt University
Corporate Governance and Acquirer Returns
13 May
Entela Saliasi, FAME and HEC, University of Lausanne
Asset Allocation in Presence of a Default Risk Mitigation Policy :
Implications for the Yield Spreads
3 Jun
Ning Zhu, University of California, Davis
Cost of Time and Household Choice between Direct and Delegated
Investment
30 Jun
Jun Pan, MIT
The Information in Option Volume for Future Stock Prices
Sep 23 (Joint with Econ.)
Jianjun Miao, Boston University
Investment, Consumption and Hedging under Incomplete Markets
Sep 30
Mungo Wilson, HKUST
How does size affect mutual fund behavior?
Oct 5 (Brown Bag)
Jerome Yen, The Chinese University of Hong Kong
Singapore - A City with Twin Tales: Lessons from the Falling of China
Aviation Oil (CAO) and Barings Futures Incidents
Oct 12 (Brown Bag)
Yuanto Kusnadi, HKUST
Corporate Governance Mechanisms and Corporate Cash Holdings
Oct 14
Lily Fang, INSEAD Singapore
Reputation as Discipline in Sell-side Research
Oct 20 (Brown Bag)
Gilles Hilary, Accounting Dept, HKUST
Does Religion Matter for Corporate Decisions in America?
Oct 21
Per Stromberg, Swedish Institute of Financial Research
The Financial Structure of Private Equity Funds
Oct 28
Dong-Hyun Ahn, Seoul National University
Familiarity Bias and Optimal Security Design in International Markets
Nov 4 (Brown Bag)
Sudipto Dasgupta, HKUST
Price Run-ups and Seasoned Equity Issues: Testing Alternative Theories
Nov 11
Henry Cao, Cheung Kong GSB
Bubbles and Panics in a Frictionless Market with Heterogeneous Expectations
Nov 18 (Brown Bag)
Salih Neftci, HKUST
"World's biggest market? iTraxx Index Trading" Flows in strategies and
pricing
Nov 23 (Brown Bag)
Chu Zhang, HKUST
Beyond Segmentation: The Case of China's Repo Markets
Nov 25
Hong Yan, University of Texas at Austin and SEC
Default Risk, Shareholder Advantage and Stock Returns
Dec 9
Lu Zheng, University of Michigan
Unobserved Actions of Mutual Funds
[Back to top]
2006
13 Jan
Robert Kosowski, INSEAD, France
Do Hedge Funds Deliver Alpha? A Bayesian and bootstrap analysis
20 Jan
Bob Kimmel, Princeton University
Complex Times: Asset Pricing and Conditional Moments under Non-Affine
Diffusions
17 Mar
Salih Neftci, HKUST
Bond prices and cash flow news: the mysteries of convexity
31 Mar
Jin Zhang, HKU
Asset pricing in a production economy with heterogeneous investors
7 Apr
Heitor Almeida, The Stern School, New York University
Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies
10 Apr
Jun Liu, University of California, San Diego
Information Asymmetry, Diversification, and Cost of Capital
21 Apr
Matti Keloharju, Helsinki School of Economics
Sensation Seeking, Overconfidence, and Trading Activity
28 Apr
Will Xu, HKU
Short Sale Constraints, Differential Interpretations, and Price Reactions to
Earnings Surprises
12 May
Laura Starks, University of Texas at Austin
Tradeoffs in Corporate Governance: Evidence from Board Structures and
Charter Provisions
16 May
Roger King, HKUST
Two Essays on Corporate Finance
(1) Does the Reputation of Independent Non-executive Directors Matter:
Evidence from Hong Kong
(2) Family Control Longevity: Evidence from the S&P 500
17 May
Douglas Foster, HKUST
Linking Limit Order Books: Managing Free Options on Options
26 May
José Luis Peydró-Alcalde, European Central Bank
Interbank Contagion:Evidence from Real Transactions
5 Jun
Anup Agrawal, University of Alabama
Insider Trading Before Accounting Scandals
9 Jun
Sohnke Bertram, Lancaster University
Resolving the Exposure Puzzle: The Many Facets of Exchange Rate Exposure
12 Jun
Tracy Wang, U. Minnesota
Real Investment and Corporate Securities Fraud
16 Jun
Xi Li, University of Miami
The Sarbanes-Oxley Act and Cross-Listed Foreign Private Issuers
26 Jun
Hong Liu, Washington Univ. in St. Louis
Managerial Preferences, Corporate Governance, and Financial Structure
30 Jun
Eric Ghysels, University of North Carolina - Chapel Hill
Forecasting Professional Forecasters
3 Jul
Ashley Wang, UC Irvine
Institutional Equity Investment, Asymmetric Information and Credit Spreads
15 Aug
(A joint seminar with ISMT)
Dilip Madan, University of Maryland
Equilibrium Asset Pricing: With Non-Gaussian Factors and Exponential Utilities
16 Aug (A joint seminar with ISMT)
Peter Carr, New York University
A theory of volatility trading
23 Aug (Brown Bag seminar)
Sugato BHATTACHARYYA, HKUST
Prices and Trading Volumes in the Housing Market: A Model without Down-Payment Effects
25 Aug
Sugato BHATTACHARYYA, HKUST
Portfolio Pumping, Trading Activity and Fund Performance
8 Sep
Fangjian Fu,
Singapore Management University
Seasoned Equity Offering and Capital Structure
11 Sep (Joint with ISMT)
Jaksa Cvitanic,
California Institute of Technology
Dynamic Portfolio Choice with Parameter Uncertainty and the Economic Value of Analysts’ Recommendations
13 Sep
Jacob Sagi,
Haas School of Business, UC Berkeley
A Liquidity-Based Theory of Closed-End Funds
15
Sep
Maureen O'Hara,
Cornell University
Microstructure and Ambiguity
22 Sep
Roni Michaely,
Cornell University and IDC
Dividend Smoothing, Agency Costs, and Information Asymmetry: Lessons from the Dividend Policies of Private Firms
29
Sep
Mitchell Craig Warachka,
Singapore Management University
The Earnings Term Structure of Analyst Forecasts: With an Application to Errors-in-Expectations and the Value Premium
6 Oct
Burno Solnik,
HKUST
Applying Regret Theory to Investment Choices: Currency Hedging Decisions
11 Oct (Brown Bag seminar)
Jerome Yen,
HKUST
Corporate Financial Distress Diagnosis in China
13 Oct
Lubos Pastor,
University of Chicago
Predictive Systems: Living with Imperfect Predictors
18 Oct
Alexander Ljungqvist,
NYU
Networking as a Barrier to Entry and the Competitive Supply of Venture Capital
23 Oct
Tim Adam,
MIT
Capital Expenditures, Financial Constraints, and the Use of Options
27
Oct
Toni Whited,
University of Wisconsin, Madison
Which Firms Follow the Market? An Analysis of Corporate Investment Decisions
3 Nov
Xueping Wu,
City University of Hong Kong
The Choice of Seasoned Equity Flotation Method under Asymmetric Information about Private Benefits of Control
10 Nov
Ann E. Sherman,
University of Notre Dame
Underpricing, Overbidding and the Effects of Entry on IPO Auctions: Evidence from Taiwan
17
Nov
Simon Gervais,
Duke University
Work Ethic, Employment Contracts, and Firm Value
29 Nov
Jin-Chuan Duan,
University of Toronto
Is Systematic Risk Priced in Options?
1 Dec
Yong Wang,
Poly U.
Consumption Risk and the Cross-sectional Stock Returns
[Back to top]
2007
16 Jan
Bing Han,
University of Texas at Austin
Institutional Investment Constraints and Stock Prices
26 Jan (Joint with ECON)
Sudip Gupta,
Indian School of Business
Value of Information in Endogenously Asymmetric Dynamic Auctions: An Empirical Analysis
14 Mar (Joint with ECON)
Jiang Wang,
MIT
Asset Prices Under Short-Sale Constraints
16 Mar (Brown Bag Seminar)
Ilona Babenko,
HKUST
Analyzing the Tax Benefits from Employee Stock Options
23 Mar
Francesca Cornelli,
London Business School
Ex ante effects of ex post managerial ownership
30 Mar
Tobias Adrian,
Federal Reserve Bank of New York
Hedge Fund Tail Risk
2 April
Michael Lemmon,
University of Utah
Board Classification and Managerial Entrenchment: Evidence from the Market for Corporate Control
11 April (Joint with ECON)
Liang Hu,
Leeds University Business School
Testing For Cointegration in Markov Switching Error Correction Models
16 April (Brown Bag Seminar)
Kalok Chan,
HKUST
Why Foreign Investors Trade More Frequently?
20 April
Anna Scherbina,
Harvard University
Inheriting Losers
27 April
Alon Brav,
Duke University
Hedge Fund Activism, Corporate Governance, and Firm Performance
7 May (Brown Bag Seminar)
Jie Gan,
HKUST
Housing Wealth and Consumption Growth
11 May
Bart Lambrecht,
Lancaster University
Debt And Managerial Rents In A Real-Options Model of The Firm
14 May
Chenggang Xu,
Econ Dept, HKUST
Does Financial Regulation Matter?
Market Volatility and the US 1933/34 Acts
18 May (Brown Bag Seminar)
Laura Liu,
HKUST
Media coverage and IPO underpricing
23 May (Brown Bag Seminar)
Sudipto Dasgupta,
HKUST
Property Market Bubbles, Heterogeneous Beliefs and Auction Outcomes: Evidence from Hong Kong Land Auctions
25 May
James Choi, Yale University
Flypaper Effects in Asset Allocation
1 June
Long Chen,
Michigan State
What Drives Stock Price Movement?
8 June
Hassan Naqvi,
National University of Singapore
The valuation of corporate debt with default risk
22 June (Brown Bag Seminar)
Lu Zhang,
HKUST
Regularities
4 July
Amit Bubna,
Indian School of Business
When bookbuilding meets IPOs
23 July
Tarun Chordia,
Emory University
Credit Ratings and The Cross-Section of Stock Returns
30 July
Kai Li,
HKUST
Conflicts of Interests Among Shareholders: The Case of Corporate Acquisitions
17 Aug
Kai Li,
HKUST
Removing Market Friction and Sharing the Gain:Evidence from the Split Share Structure Reform in China
31 Aug
Xueping WU,
City University of Hong Kong
Initial Growth Status and Corporate Capital Structure
14 Sep
Chris Polk, London School of Economics
Growth or Glamour? Fundamentals and Systematic Risk in Stock Returns
21 Sep
Albert Wang, Chinese University of Hong Kong
Mutual Fund Flows, Performance Persistence and Manager Skill
15 Oct
Uday Rajan, University of Michigan
The Financial Effects of Real Hedging
22 Oct
Allaudeen Hammeed, National University of Singapore
Stock Market Declines and Liquidity
29 Oct
Per Strömberg, Stockholm School of Economics
Leverage and Pricing in Buyouts: An Empirical Analysis
2 Nov
Kathleen Kahle, University of Arizona
Why do U.S. firms hold so much more cash than they used to?
9 Nov
Jonathan Berk, UC Berkeley
Human Capital, Bankruptcy and Capital Structure
12 Nov
Kewei Hou, The Ohio State University
Resurrecting the Size Effect:Firm Size, Profitability Shocks, and Expected Stock Returns
16 Nov
Evan Gatev, Boston College
Liquidity Risk and Limited Arbitrage: Why Banks Lend to Opaque Hedge Funds
23 Nov
Stefan Nagel, Stanford University
Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?
30 Nov
Ilya Strebulaev, Stanford University
The Levered Equity Risk Premium and Credit Spreads: A Unified Framework
7 Dec
Fritz Foley, Harvard University
The Evolution of Corporate Ownership: Evidence from 34 Countries
[Back to top]
2008
18 Jan (Brown Bag Seminar)
Salih Neftci, HKUST
The Unknowns of the Credit Crisis of 2007
23 Jan (Brown Bag Seminar)
Sudipto Dasgupta, HKUST
What do Firms do with a Dollar of Cash Inflow?
29 Feb (Brown Bag Seminar)
Keiichi Kubota, Musashi University
Price Continuation of Weekly Portfolio Returns in Japan
7 Mar (Brown Bag Seminar)
Lan Zhang, University of Illinois at Chicago
Microstructure and the Hidden Semimartingale Model
14 Mar
Suman Banerjee, Nanyang Technological University
Dual-class share issues and mitigating the costs of corporate democracy
25 Mar
Hank Bessembinder, University of Utah
Liquidity Biases in Asset Pricing Tests
2 Apr (Brown Bag Seminar)
Peter MacKay, HKUST
The Maturity Structure of Corporate Risk Management
11 Apr
Raymond Kan, University of Toronto
Model Comparison Using the Hansen-Jagannathan Distance
18 Apr
Mitch Petersen, Northwestern University and NBER
Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
21 Apr
Suresh Sundaresan, Columbia University
Integrating Dynamic Investment Theory with Financing and Capital Structure
25 Apr
Denis Gromb, London Business School
Financially Constrained Arbitrage and Cross-Market Contagion
2 May
Scott Weisbenner, University of Illinois
"Old" Money Matters: The Sensitivity of Mutual Fund Redemption Decisions to Fund Characteristics
7 May (Brown Bag Seminar)
Gilles Hillary, HKUST Accounting
Market Timing and the Cost of Equity
9 May
Rob Hansen, Tulane University
On the information role of stock recommendation revisions
16 May
Jason Karceski, University of Florida
Balance sheet growth and the predictability of stock returns
26 May (Brown Bag Seminar)
Mungo Wilson, HKUST
Expect returns and scheduled macroeconomic announcements
28 May (Brown Bag Seminar)
Francois-Serge Lhabitant, HKUST
Liquidity in Hedge Funds
30 May (Brown Bag Seminar)
Sudipto Dasgupta, HKUST
Debt Maturity and Macroeconomic Conditions
12 Jul
Mark Seasholes, University of California, Berkeley
Liquidity Provision and Stock Return Predictability
18 Jul
David Ng, Cornell University
Cross-Country Differences in Firm Multiples
20 Jul
Wei Jiang, Columbia University
Takeover Activity and Target Valuations: Evidence of Feedback in Financial Markets
28 Jul (Brown Bag Seminar)
Sophie Xiaoyan NI, HKUST
Investor Sentiment and the Prices of Stock and Index Options
19 Aug (Brown Bag Seminar)
John Griffin, HKUST
Why does the Reaction to News Announcements Vary across Countries?
5 Sep
Gordon Phillips,
University of Maryland
Product Market Synergies and Competition in Mergers and Acquisitions
12 Sep
Paul Oyer,
Stanford University
Managerial Incentives and Value Creation: Evidence from Private Equity
17 Sep
Jay Ritter,
University of Florida
Corporate Executive Bribery: An Empirical Analysis
26 Sep
Paolo Fulghieri,
University of North Carolina
Corporate Governance, Finance, and the Real Economy
6 Oct
Roni Michaely,
Cornell University
Why firms smooth dividends: Empirical Evidence
10 Oct (Brown Bag Seminar)
Du Du, HKUST
Asset Pricing for Affine Processes Augmented with Regime Switching
17 Oct
Wayne Ferson,
University of Southern California
Measuring the Timing Ability of Fixed Income Mutual Funds
24 Oct (Brown Bag Seminar)
Yuri Tserlukevich,
HKUST
The Propensity to Save and Incentives to Reduce Debt
31 Oct
George Pennacchi,
University of Illinois
Estimating a Model of Real and Nominal Term Structures using Treasury Yields, Inflation Forecasts, and Inflation Swap Rates
7 Nov
Ohad Kadan,
Washington University in St. Louis
Managerial Decisions, Asset Liquidity, and Stock Liquidity
14 Nov
Kasper Meisner Nielsen,
Chinese University of Hong Kong
The Value of Independent Directors: Evidence from Sudden Deaths
21 Nov (Brown Bag Seminar)
Ilona Babenko,
HKUST
Adverse selection and stock-based grants to non-executive employees
26 Nov (Brown Bag Seminar)
Tingjun Liu, HKUST
Takeover Bidding with Signaling Incentives (A Revised Version)
28 Nov
Suleyman Basak,
London Business School and CEPR
Dynamic Mean-Variance Asset Allocation
5 Dec
Kewei Hou,
The Ohio State University
The Implied Cost of Capital: A New Approach
12 Dec (Brown Bag Seminar)
Laura Liu, HKUST
The role of media in initial public offering
22 Dec (Brown Bag Seminar)
Keiichi Kubota,
Chuo University
Expected Return, Liquidity Risk, and the Contrarian Strategy: Evidence from Tokyo Stock Exchange Firms
[Back to top]
2009
9 Feb (Brown Bag)
Michael Pomerleano, Bank for International Settlements
Corporate financial restructuring in Asia: implications for financial stability
20 Feb
Josef Zechner, Vienna University
Liquidity and Feasible Debt Relief
13 Mar
Laura Lindsey, Arizona State University
Incentives, Targeting and Firm Performance: An Analysis of Non-Executive Stock Options
17 Mar
Lilian Ng, University of Wisconsin-Milwaukee
Informed Trading Around The World
20 Mar
Ning Gong, University of Melbourne
Disclosure Policy and Stock Return Volatility
27 Mar
Michelle Lowry, Penn State University
When do banks listen to their analysts? Evidence from mergers and acquisitions
3 Apr
Dirk Hackbarth, University of Illinois
Corporate Financing and Investment: The Firm-Level Credit Multiplier
9 Apr (Brown Bag)
Ann Rutledge, HKUST
How to Cheat & Swindle - Legally - Using Structured Finance
17 Apr
Bruce Grundy, The University of Melbourne
Charitable Fund-Raising and Matching Grants or Seed Money: An Application to Employee Matching Grant Schemes
22 Apr (Joint with ISOM)
Peter Christoffersen, McGill University and Creates
Exploring Time-Varying Jump Intensities : Evidence from S&P500 Returns and Options
24 Apr (Brown Bag)
Neal Stoughton, The University of New South Wales
Intermediated Investment Management
27 Apr (Brown Bag Joint with ACCT)
Edward I. Altman, New York University
Conditions and Outlook for Global Credit Markets: A Tale of Three Periods
4 May
Alex Edmans, University of Pennsylvania
Governance Through Exit and Voice: A Theory of Multiple Blockholders
8 May
Lorenzo Garlappi, University of Texas at Austin
Financial Distress and the Cross Section of Equity Returns
18 May (Brown Bag Joint with ACCT)
Laura Liu, HKUST
Asset-backed Securitization in industrial firms—an empirical investigation
26 May (Joint with ECON)
Bernard Yeung, NUS Business School
Bank Control, Capital Allocation, and Economic Performance
29 May
Erica Li, University of Michigan
The Federal Reserve and the Cross-Section of Stock Returns
5 June
Neil Pearson, University of Illinois at Urbana-Champaign and MIT
The Dark Side of Financial Innovation
8 June (Brown Bag)
Jennifer Huang, University of Texas at Austin
Internal Capital Allocation and Firm Performance
21 July (Brown Bag)
Clemens Sialm, University of Texas at Austin
Mutual Fund Tax Clienteles
28 Aug (Joint with ECON)
Steven Davis, The University of Chicago
Private Equity and Employment
11 Sep
Pedro Matos, USC Marshall School of Business
(1) The Pay Divide: (Why) Are U.S. Top Executives Paid More?
(2) Corporate Governance in the 2007-2008 Financial Crisis: Evidence from Financial Institutions Worldwide
16 Sep (Brown Bag)
Du Du, HKUST
Macroeconomic Conditions, Nature of Competition, and Investment Cyclicality
18 Sep
Dragon Tang, HKU
Did Subjectivity Play a Role in CDO Credit Ratings?
25 Sep (3rd year paper presentations)
Mao Lei, HKUST
Cash Holdings, Debt Repurchase and Efficient Bankruptcy Timing
Qinghao Mao, HKUST
Revisit Momentum Profits: An Explanation Using Return Decomposition
2 Oct
Huseyin Gulen, Purdue University
Performance for pay? The relationship between CEO incentive compensation and future stock price performance
8 Oct (Brown Bag)
Cindy Ma, Houlihan Lokey
Valuation Challenges for Illiquid and Complex Securities in the Current Market Environment
9 Oct
Sreedhar Bharath, University of Michigan
Liquidity Risk of Corporate Bond Returns
15 Oct (Brown Bag)
Yunling Chen, HKUST
Financial Constraints, Macroeconomic Conditions, and Financing Decisions
16 Oct
Jarrad Harford, University of Washington
Bonus-driven Repurchases
19 Oct (Brown Bag)
Mark Seasholes, HKUST
Risk and the Cross-Section of Stock Returns
29 Oct (Brown Bag)
Sudipto Dasgupta, HKUST
(1) Search Intermediaries, Internal Labor Markets, and CEO Pay
(2)What Else Explains CEO Pay and Pay Change Other than Firm Size?
30 Oct
Christopher James, University of Florida
Credit Market Conditions and the Determinants and Value of Banking Relationships
2 Nov (Brown Bag)
David Feldman, The University of New South Wales
The CAPM Relation for Inefficient Portfolios
6 Nov
Michael Hertzel, Arizona State University
Contracting Frictions and Cross-Border Capital Flows: Evidence from Venture Capital
13 Nov (Joint with ECON)
Elena Asparouhova, University of Utah
Experiments on Asset Pricing under Delegated Portfolio Management
16 Nov (Brown Bag)
François Ortalo-Magné, University of Wisconsin-Madison
Spatial Asset Pricing: A First Step
20 Nov
Karin Thorburn, Dartmouth College
Voluntary Corporate Environmental Initiatives and Shareholder Wealth
23 Nov (Brown Bag)
Kingsley Fong, The University of New South Wales
Can Global Stock Liquidity Be Measured?
26 Nov (Brown Bag)
Fei Ding, HKUST
Discount or Premium? Diversification, Firm Value, and Capital Budgeting Efficiency
27 Nov
Yu Yuan, The University of Iowa
Investor Sentiment and the Mean-Variance Relation
4 Dec
Harald Hau, INSEAD
The Exchange Rate Effect of Multi-Currency Risk Arbitrage
11Dec
Ernst Maug, University of Mannheim
How do Executives Exercise Their Stock Options?
21 Dec (Brown Bag)
Keiichi Kubota, Chuo University
Impact of Quarterly Disclosure on Information Asymmetry: Evidence from Tokyo Stock Exchange Firms
[Back to top]
2010
13 Jan (Brown Bag)
Kee-Hong Bae, York University
What’s in a “China” Name? A Test of Investor Sentiment Hypothesis
22 Jan
David Yermack, New York University
Is a Higher Calling Enough? Incentive Compensation in the Church
5 Mar
Timothy Riddiough, University of Wisconsin–Madison
Shopping, Relationships, and Influence
In the Market for Credit Ratings
8 Mar (Brown Bag)
Rik Sen, HKUST
Do non-executive employees have information?
Evidence from employee stock purchase plans
15 Mar (Brown Bag)
Steven Jordan, KAIST Graduate School of Finance
Asymmetric information and trade halts
19 Mar
Scott Weisbenner, University of Illinois
Corporate Debt Maturity and the Real E¤ects of the 2007 Credit Crisis
22 Mar (Brown Bag)
Robert McDonald,
Northwestern University
Contingent Capital with a Dual Price Trigger
26
Mar
Jeff Pontiff,
Boston College
Do Fund Managers Try to Mislead Investors? Evidence from Year-End Trades
29
Mar
(Brown Bag)
Peter Klein,
Simon Fraser University
Optimal Early Exercise of Vulnerable American Options
9
Apr
Jefferson Duarte,
Rice University
Trust and Credit
16
Apr
Mariassunta Giannetti,
Stockholm School of Economics
On the Real Effects of Bank Bailouts: Micro-Evidence from Japan
19
Apr
(Brown Bag)
John Jianze Bian,
University of International Business and Economics
Non-Marketability and One-Day Selling Lock-Up
26
Apr
(Brown Bag)
Darwin Choi,
HKUST
The Self-Serving Attribution Bias: How Mutual Fund Managers Become Overconfident and Subsequently Underperform
3
May
(Brown Bag
- Joint with Econ)
Laura Liu, HKUST
Intangible Assets and Cross-Sectional Stock Returns: Evidence from Structural Estimation
7
May
Thomas Chemmanur,
Boston College
A Theory of Corporate Boards and Forced CEO Turnovers
10
May
(Brown Bag)
Radha Gopalan,
Washington University, St Louis
Do Credit Rating Agencies Underestimate Liquidity Risk?
14
May
Yacine Ait-Sahalia,
Princeton University
Modeling Financial Contagion Using Mutually Exciting Jump Processes
17
May
(Brown Bag)
Sophie Xiaoyan NI, HKUST
Trading Puts and CDS on Stocks with Short Sale Ban
28
May
Alexei Ovtchinnikov,
Vanderbilt University
Merger Waves Following Industry Deregulation
13
Jul
(Brown Bag)
Will Goetzmann,
Yale University
The Subprime Crisis and House Price Appreciation
13
Aug
(Brown Bag)
Peter Swan,
The University of New South Wales
Are Domestic Household Investors Better Performers than Foreign Institutions? New Evidence from Finland
3 Sep
Long Chen, Washington University in St. Louis
Dividend Smoothing and Predictability
6 Sep (Brown Bag)
Tim Adam, HKUST
The Use of Credit Default Swaps by U.S. Fixed-Income Mutual Funds
10 Sep (Brown Bag)
Mark Seasholes, HKUST
Risk Sharing, Costly Participation, and Monthly Returns
13 Sep (Brown Bag)
Sudipto Dasgupta, HKUST
Shareholder democracy and its discontents: outrage, captured boards, and the veil of ignorance
17 Sep
Rohit Rahi, London School of Economics
Arbitrage Networks
20 Sep (Brown Bag)
Michael Edesess, Division of Environment, HKUST
Finance and The Environment
24 Sep
Anjan Thakor, Washington University
Experience-Based Beliefs
4 Oct (Brown Bag)
David McLean, University of Alberta
Creative Destruction and Finance: Evidence from the Last Half Century
11 Oct (Brown Bag)
Xuewen Liu, HKUST
Predatory Short-selling and Self-fulfilling Crises
15 Oct
Nicolas Bollen, Vanderbilt University
Hedge Fund R2
What’s under the Hood?
22 Oct
Oguzhan Ozbas, University of Southern California
Corporate Diversification and the Cost of Capital
29 Oct
Prabhala Nagpurnanand, University of Maryland
Text-Based Product Characteristics, Competition and Dividends
1 Nov (Brown Bag)
Pengfei Wang, Economics Department, HKUST
Credit Risk and Business Cycles
5 Nov
Darius Miller, Southern Methodist University
Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-listings
8 Nov (Brown Bag)
Abhiroop Mukherjee, HKUST
Shareholder Empowerment and Enlightenment: Information Asymmetry, Corporate Governance and Firm Value
12 Nov
Hong Yan, University of South Carolina
The Price Impact of CDS Trading
15 Nov (Brown Bag)
Stephen Figlewski, New York University
The Impact of the Federal Reserve's Interest Rate Target Announcement on Stock Prices: A Closer Look at How the Market Impounds New Information
19 Nov (Brown Bag)
Mike Qinghao Mao, HKUST
How does the market read information conveyed by accruals?
22 Nov (Brown Bag)
Xiaohui Gao, The University of Hong Kong
Brokerage Commissions: Hidden Costs of Owning Mutual Funds
26 Nov
Anand Vijh, The University of Iowa
Do Firms Have a Target Leverage? Evidence from Credit Markets
29 Nov (Brown Bag)
Kasper Nielsen, HKUST
Ability or Financial Constrains to Entrepreneurship?
Evidence from Survival Rates in a Natural Experiment
3 Dec
Yaniv Grinstein, Cornell University
Relative Performance Evaluation in CEO Compensation:
Evidence from the 2006 Disclosure Rules
10 Dec
Haitao Li, University of Michigan
No-Arbitrage Taylor Rules with Switching Regimes
13 Dec (Brown Bag)
Yuri Tserlukevich, ASU and HKUST
Real Investment with Financial Hedging
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2011
28 Feb ( Joint with MATH)
Oldrich Vasicek, Moody’s KMV
The Distribution of Loan Portfolio Value
11 Mar
Vidhi Chhaochharia, University of Miami
How costly is sovereign default? Evidence from financial markets
16 Mar (Brown Bag)
Takao Kobayashi, University of Tokyo
A Dynamic Theory of Pecking-Order Financing
25 Mar (Brown Bag)
Quoc-Anh Do, Singapore Management University
Politicians and Directors in Social Networks: Regression Discontinuity Design Evidence from Close Elections
1 Apr
Jiro Kondo, Northwestern University
Vagueness as Adjudicator Authority:Theory and Evidence on Contract Vagueness and Enforcement Evaluation
8 Apr
Renée Adams, The University of Queensland
Who directs the Fed?
15 Apr (Brown Bag)
Sudipto Dasgupta, HKUST
Firm Characteristics and Manager-Firm Matching: Evidence from Executive Turnovers
27 Apr
Alexander Ljungqvist, New York University
Does the Stock Market Distort Investment Incentives?
29 Apr
Mark Grinblatt, UCLA
IQ and Stock Market Trading
6 May (Brown Bag)
Darwin Choi, HKUST
Who Are Noise Traders? The Impact of the Disposition Effect on Liquidity and Stock Prices
13 May
Jialan Wang, Washington University in St Louis
Liquidity Constraints and Consumer Bankruptcy: Evidence from Tax Rebates
20 May
Roger Edelen, UC Davis
Investor Recognition and the Post-Issuance Performance Anomaly
23 May (Brown Bag)
Byoung-Hyoun Hwang, Purdue University
“Self-Fulfilling” Stock Recommendations
27 May
Kose John, New York University
Law, Organizational Form, and Taxes:Financial Crisis and Regulating through Incentives
30 May (Brown Bag)
Bing Han, UT Austin
Variance Risk Premium and Cross--Section of Stock Returns
2 Jun
Hao Zhou, Federal Reserve Board
Short-Run Bond Risk Premia
17 Jun (Brown Bag)
David Ng, Cornell University
How Important are Foreign Ownership Linkages for International Stock Returns?
24 Jun (IAS Nobel Lecture)
Robert Engle, NYU Stern
Global Financial Stability and Long Run Risks
5 Sep (Brown Bag)
Lei Sun, PhD Student of FINA
How Does Competition Affect Opinion Dispersion?
9 Sep
Dirk Jenter, Stanford University
CEO Preferences and Acquisitions
12 Sep (Brown Bag)
Ashish Tiwari, University of Iowa
Cross Trading and the Cost of Conflicts of Interest of Mutual Fund Advisers
19 Sep (Brown Bag)
Mark Seasholes, HKUST
Common Factors, Information, and Portfolio Choice
23 Sep (Brown Bag)
Andrew Ellul, Indiana University
Transparency, Tax Pressure and Access to Finance
26 Sep
Jason Chen, University of British Columbia
What does the value premium tell us about the term structure of equity returns?
30 Sep
Ran Duchin, University of Michigan
Safer Ratios, Riskier Portfolios: Banks’ Response to Government Aid
3 Oct (Brown Bag)
Du Qianqian, PhD Student of FINA
Management earnings guidance, earnings momentum and price momentum
10 Oct (Brown Bag)
Neil Pearson, University of Illinois at Urbana-Champaign
Is There Price Discovery in Equity Options?
14 Oct
Johan Walden, University of California at Berkeley
Investor Networks in the Stock Market
21 Oct
Ralph Koijen, University of Chicago
Equity Yields
24 Oct (Brown Bag)
Xuewen Liu, HKUST
Liquidity Flooding, Asset Prices and the Real Economy
28 Oct
Chen Lin, CUHK
Financial Innovation: The Bright and the Dark Sides
4 Nov
David Denis, University of Pittsburgh
Insider Trading Restrictions and Top Executive Compensation
7 Nov (Brown Bag)
Diego Garcia, University of North Carolina at Chapel Hill
Asymmetric Information and the Pecking Order
11 Nov
Gordon Phillips, University of Maryland
R&D and the Incentives from Merger and Acquisition Activity
14 Nov (Brown Bag)
Bruno Solnik, HKUST
Relative Optimism among Professional Investors: A Domestic Bias?
18 Nov
Stephan Siegel, University of Washington
The Origins of Savings Behavior
21 Nov (Brown Bag)
Craig Brown, National University of Singapore
Campaign Contributions and Government Financial Management: Evidence from State Bond Pricing
25 Nov
Brandon Julio, London Business School
Convergence in Corporate Investments and Aggregate Investment Dynamics
28 Nov (Brown Bag)
Yu Yuan, University of Pennsylvania
Attention and Trading
2 Dec
Diane Del Guercio, University of Oregon
Do the interests of public pension fund and labor union activists align with other shareholders’? Evidence from the market for directors
5 Dec (Brown Bag)
John Chalmers, HKUST
What is the Impact of Financial Advisors on Retirement Portfolio Choices and Outcomes?
9 Dec
Amil Dasgupta, London School of Economics
The Wall Street Walk when Blockholders Compete for Flows
12 Dec (Brown Bag)
Nusret Cakici, HKUST
Hybrid Tail Risk and Expected Stock Returns: When Does the Tail Wag the Dog?
13 -14 Dec
HKUST Finance Symposium on Corporate Finance
16 Dec (Brown Bag)
Wei Yang, University of Rochester
Business
Cycles and Regime-Shift Risk
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