The 2024 Five-Star Asia Pacific Workshop in Finance aims to provide an open platform to bring together scholars from top research institutions in the Asia Pacific region. It extends the scope of the Five-Star Workshop in Finance in China, which has been organized for 11 years covering 10 leading finance research institutions in China. This year, the inaugural Five-Star Asia Pacific Workshop will be co-organized by the Cheung Kong Graduate School of Business (CKGSB), Sim Kee Boon Institute for Financial Economics (SKBI) at Singapore Management University's (SMU) Lee Kong Chian School of Business (LKCSB), PBC School of Finance at Tsinghua University (PBCSF), and the University of Toronto. Presenters are from the above institutions.
Date & Time:
17 May 2024 (Fri) | 8:45am - 5:30pm
18 May 2024 (Sat) | 9am - 2pm
Conference Style:
The workshop will adopt a seminar-style research discussion (e.g., 30-minute presentation + 15-minute floor discussion) to promote in-depth engagements of all participants.
Venue:
Singapore Management University
50 Stamford Road, Singapore 178899
Lee Kong Chian School of Business, Seminar Room 1-1
Programme & Slides:
Click on the corresponding sections below to download the slides
Day 1: May 17 (Friday) |
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| 8:45am - 9:15am |
Registration & Welcome |
Session 1: Investment and Capital FormationChaired by Hong Zhang (Professor of Finance, LKCSB)
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|
| 9:15am - 10:00am |
Leverage dynamics under costly equity issuance, by Patrick Bolton, Neng Wang, and Jinqiang Yang. [Slides]
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| 10:00am - 10:45am |
Share Pledging in China: Funding Listed Firms or Funding Entrepreneurship?, by Zhiguo He, Bibo Liu, Feifei Zhu. [Slides]
|
| 10:45am - 11:15am |
Coffee Break |
| 11:15am - 12:00am |
What Doesn’t Work in Securities Law: Blue Sky laws and Capital Formation, by Paul Mahoney and Jianping Mei. [Slides]
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12:00pm - |
Lunch |
Session 2: Green FinanceChaired by Erica Li (Professor of Finance, CKGSB) |
|
| 2:00pm - 2:45pm |
Consumers’ Reaction to Corporate ESG Performance: Evidence from Store Visits, by Tinghua Duan, Frank Weikai Li, and Roni Michaely. [Slides]
|
| 2:45pm - 3:30pm |
The Externalities of ESG Disclosure, by Yi Jiang, Ya Kang, and Hao Liang. [Slides]
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| 3:30pm - 4:00pm |
Coffee Break |
Session 3: Treasury Bonds and Government Funds Chaired by Erica Li (Professor of Finance, CKGSB) |
|
| 4:00pm - 4:45pm |
A Two-Tier System of Government Guided Funds, by Zhao Jin.
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| 4:45pm - 5:30pm |
The Stock-Bond Correlation A Tale of Two Days in the Treasury Bond Market, Grace Xing Hu, Zhao Jin, and Jun Pan. [Slides]
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Day 2: May 18 (Saturday) |
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Section 4: FinTech and Machine LearningChaired by Zhan Shi (Associate Professor, PBCSF) |
|
| 9:00am - 9:45am |
Social Learning and Sentiment Contagion in the Bitcoin Market, by Bing Han, Haoyang Liu, and Pengfei Sui. [Slides]
|
| 9:45am - 10:30am |
Machine Learning vs. Dynamic Trading: Can Economics Help Explain AI?, Huahao Lu, Matthew Spiegel, and Hong Zhang. [Slides]
|
| 10:30am - 11:00am |
Coffee Break |
Section 5: Corporate Biases and Regulatory Impact Chaired by Zhan Shi (Associate Professor, PBCSF) |
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11:00am - 11:45am |
Randomized On-Site Inspections and Shareholder Value, by Fangjian Fu, Pingui Rao, Cen Wu, and Heng Yue.
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| 11:45am - 12:30pm |
Corporate Basis and Demand for U.S. Dollar Assets, by Grace Xing Hu, Zhan Shi, Ganesh Viswanath-Natraj, Junxuan Wang. [Slides]
|
| 12:30pm - 2:00pm |
Lunch |
Neng Wang (Dean’s Distinguished Chair Professor of Finance, CKGSB)
Bibo Liu (Associate Professor, PBCSF)
Jianping Mei (Professor of Finance, CKGSB)
Frank Weikai Li (Assistant Professor of Finance, LKCSB)
Hao Liang (Associate Professor of Finance, LKCSB)
Zhao Jin (Assistant Professor of Finance, CKGSB)
Grace Xing Hu (Associate Professor, PBCSF)
Bing Han (Professor of Finance, University of Toronto)
Hong Zhang (Professor of Finance, LKCSB)
Fangjian Fu (Associate Professor of Finance, LKCSB)
