IMPORTANT DATES
  • November 28, 2018 - February 28, 2019
  • Paper Submission

  • May 20, 2019
  • Notice of Acceptance

  • May 21, 2019 - June 20, 2019
  • Hotel Reservation

  • May 21, 2019 - July 2, 2019
  • Conference Registration

2019 China Financial Research Conference Program



2019 CHINA FINANCIAL RESEARCH CONFERENCE PROGRAM

Beijing, China

July 7-8, 2019


Sunday, July 07, 2019, 08:30 - 10:15

Capital Market - Room 1-100, 1/F Building 1

Christian Lundblad, The University of North Carolina at Chapel Hill

 

Pledgeability and Asset Prices: Evidence from the Chinese Corporate Bond Markets

Hui Chen, Massachusetts Institute of Technology

Zhuo Chen, Tsinghua University

Zhiguo He, The University of Chicago

Jinyu Liu, University of International Business and Economics

Rengming Xie, CITIC Securities

 

Wealth Redistribution in Bubbles and Crashes

Li An, Tsinghua University

Jiangze Bian, University of International Business and Economics

Dong Lou, The London School of Economics and Political Science

Donghui Shi, Shanghai Stock Exchange

 

The Diversification Benefits and Policy Risks of Accessing China's Stock Market

Chenyu Shan, Shanghai University of Finance and Economics

Dragon Yongjun Tang, The University of Hong Kong

Sarah Qian Wang, The University of Warwick

Chang Zhang, The University of Warwick

 

Discussants:

Jia Chen, Peking University

Jacky Qi Zhang, Durham University

Clark Liu, Tsinghua University


Sunday, July 07, 2019, 08:30 - 10:15

公司金融与公司治理 - Room 1-200, 2/F Building 1

  平,清华大学

 

去产能政策与售后回租——监管套利视角下的相互关系

史燕平,对外经济贸易大学

杨  汀北方工业大学、对外经济贸易大学

庞家任,清华大学

 

行千里路:独立董事的跨地区经历与企业创新

全  怡,中南财经政法大学

杨国超,中南财经政法大学

孔东民,中南财经政法大学

叶康涛,中国人民大学

 

在伦理和威权之间:儒家如何影响控股股东的掏空行为?

古志辉,南开大学

孙  玮,对外经济贸易大学

 

评论人:

李瑞鹏,中山大学

   琳,对外经济贸易大学

   娜,中央财经大学


  

Sunday, July 07, 2019, 10:30 - 12:15

Behavioral Finance I - Room 1-100, 1/F Building 1

Yongxiang Wang, University of Southern California

 

Hard to Say Goodbye to Yesterday: War Memories, Patriotism, and Individual Investors’ Investment Preferences

Bin Ke, National University of Singapore

Yupeng Lin, National University of Singapore

Hong Tu, Nankai University

Weibiao Xu, Nankai University

 

The Chinese Stock Splits Puzzle: A Behavioral Signaling Explanation

Chenyu Cui, Tsinghua University

Frank Weikai Li, Singapore Management University

Jiaren Pang, Tsinghua University

Deren Xie, Tsinghua University

 

Cognitive Biases and Asset Prices: Evidence from the Exchange-traded Repo Market in China

Xuyun Fang, China Life AMP Asset Management Co. Ltd

Zhiqian Jiang, Florida State University

Baixiao Liu, Florida State University

John J. McConnell, Purdue University

Mingshan Zhou, Southwestern University of Finance and Economics

 

Discussants:

Claire Hong, Shanghai Jiao Tong University

Zhenyu Gao, The Chinese University of Hong Kong

Tse-Chun Lin, The University of Hong Kong

 

Sunday, July 07, 2019, 10:30 - 12:15

Housing and Finance I - Room 1-200, 2/F Building 1

Jennifer Huang, Cheung Kong Graduate School of Business 

 

Flight to Housing in China

Feng Dong, Shanghai Jiao Tong University

Jianfeng Liu, Shanghai University of International Business and Economics

Zhiwei Xu, Shanghai Jiao Tong University

Bo Zhao, Peking University

 

Mortgage Debt, Hand-to-Mouth Households, and Monetary Policy Transmission

Sumit Agarwal, National University of Singapore

Yongheng Deng, University of Wisconsin–Madison

Quanlin Gu, Peking University

Jia He, Nankai University

Wenlan Qian, National University of Singapore

Yuan Ren, National University of Singapore

 

Capital Scarcity and Industrial Decline: Evidence from 172 Real Estate Booms in China

Harald Hau, University of Geneva

Difei Ouyang, University of Geneva

 

Discussants:

Guozhong Zhu, University of Alberta

Yongqiang Chu, The University of North Carolina at Charlotte

Meng Miao, Renmin University of China



Sunday, July 07, 2019, 13:00 - 14:00

Keynote Speech & Best Paper Awards - Room 3-300, 3/F Building 3


Welcome Speech by Program Chair

Hao Zhou, Associate Dean and Unigroup Chair Professor of Finance, PBC School of Finance, Tsinghua University; Vice Chair, National Institute of Financial Research, Tsinghua University

 

Keynote Speech

Tao Zha, Samuel Candler Dobbs Professor of Economics, Emory University; Executive Director, Center for Quantitative Economic Research, Federal Reserve Bank of Atlanta

 

Best Paper Awards Ceremony

Moderator: Xiaoyan Zhang, Associate Dean and XIN Chair Professor of Finance, PBC School of Finance, Tsinghua University; Vice Chair, National Institute of Financial Research, Tsinghua University; Vice Chair, Institute for Fintech Research, Tsinghua University



Sunday, July 07, 2019, 14:15 - 16:00

Corporate Finance - Room 1-100, 1/F Building 1

Meijun Qian, The Australian National University

 

Going Bankrupt in China

Bo Li, Tsinghua University

Jacopo Ponticelli, Northwestern University

 

Share Pledging and Corporate Risking-Taking: Insights from the Chinese Stock Market

Qingbin Meng, Remin University of China

Xiaoran Ni, Xiamen University

Jinfan Zhang, The Chinese University of Hong Kong, Shenzhen

 

Do Place-Based Policies Promote Local Innovation and Entrepreneurial Finance?

Xuan Tian, Tsinghua University

Jiajie Xu, Boston College

 

Discussants:

Edith Hotchkiss, Boston College

William L. Megginson, University of Oklahoma

Xintong Zhan, The Chinese University of Hong Kong


Sunday, July 07, 2019, 14:15 - 16:00

Behavioral Finance II - Room 1-200, 2/F Building 1

Jianfeng Yu, Tsinghua University  

 

What Makes Structured Products Popular? Evidence from China’s Structured Funds

Paul Gao, University of Notre Dame

Allen Hu, Yale University

Peter Kelly, University of Notre Dame

Cameron Peng, The London School of Economics and Political Science

Ning Zhu, Shanghai Jiao Tong University

 

Intraday Reversal, Liquidity and Anchored Expectation

Shen Lin, Tsinghua University

Xiong Xiong, Tianjin University

 

How Does Mutual Fund Working Experience Affect Private Fund Performance?

Ying Sophie Huang, Zhejiang University

Bing Liang, University of Massachusetts Amherst

Kai Wu, Central University of Finance and Economics

 

Discussants:

Clark Liu, Tsinghua University

Conghui Hu, University of International Business and Economics

Qi Liu, Peking University


Sunday, July 07, 2019, 16:15 - 18:00

中国金融热点问题 - Room 1-100, 1/F Building 1

刘晓蕾,北京大学

 

金融——实体经济的结构匹配与经济增长

叶德珠,暨南大学

曾繁清,暨南大学

黄允爵,暨南大学

 

过桥贷款、金融风险与资源配置效率

彭俞超,中央财经大学

沈  吉,北京大学

高昊宇,中央财经大学

 

分部门杠杆增速与金融危机风险:基于跨国面板数据的实证分析与政策建议

纪  洋,厦门大学

葛婷婷,北京大学

边文龙,成均馆大学

黄益平,北京大学

 

评论人:

邓家品,北京大学

向昊天,宾夕法尼亚大学

刘津宇,对外经济贸易大学


Sunday, July 07, 2019, 16:15 - 18:00

Market Microstructure - Room 1-200, 2/F Building 1

Haoxiang Zhu, Massachusetts Institute of Technology

 

Impact of Liquidity Shocks on Stock Prices: Evidence from Chinese IPOs

Jennifer (Jie) Li, Shanghai Jiao Tong University

Neil D. Pearson, University of Illinois at Urbana-Champaign

Qi Zhang, Durham University

 

The Indirect Effects of Trading Restrictions: Evidence from a Quasi-Natural Experiment

Shujing Wang, Tongji University

Hongjun Yan, DePaul University

Ninghua Zhong, Tongji University

Yizhou Tang, Tongji University

 

The Unintended Consequences of Direct Purchase Stock Market Rescue: Lessons from China

Chunbo Liu, Southwestern University of Finance and Economics

Yongxin Xu, Victoria University of Wellington

Xiaoyan Zhang, Tsinghua University

 

Discussants:

Grace Xing Hu, Tsinghua University

Jennifer Huang, Cheung Kong Graduate School of Business

Yi Huang, Graduate Institute of International and Development Studies


Monday, July 08, 2019, 08:30 - 10:15

Macro-Corporate - Room 1-100, 1/F Building 1

Grace Xing Hu, Tsinghua University

 

Zombie Firm Dynamics and China's Monetary Policy

Wei Guo, International Monetary Fund (IMF)

Calvin Dun Jia, Renmin University of China

Tony Wei Li, Beihang University

 

Internal Capital Markets and Export Pricing: Evidence from Chinese Business Groups

Kang Shi, The Chinese University of Hong Kong

Jin Xie, The Chinese University of Hong Kong

Juanyi (Jenny) Xu, The Hong Kong University of Science and Technology

 

The Effect of Property Rights Protection on Capital Structure: Evidence from a Chinese Natural Experiment

Yixin Liu, University of New Hampshire

Yu Liu, University of Texas at Rio Grande Valley

William L. Megginson, University of Oklahoma

Zuobao Wei, University of Texas at El Paso

 

Discussants:

Zhan Shi, Tsinghua University

Dan Li, The Chinese University of Hong Kong, Shenzhen

Bo Li, Tsinghua University


Monday, July 08, 2019, 08:30 - 10:15

Housing and Finance II - Room 1-200, 2/F Building 1

Hong Zhang, Tsinghua University

 

Tax Evasion, Capital Gains Taxes, and the Housing Market

Sumit Agarwal, National University of Singapore

Keyang Li, Tsinghua University

Yu Qin, National University of Singapore

Jing Wu, Tsinghua University

Jubo Yan, Nanyang Technological University

 

Capital Leakage, House Prices, and Consumer Spending: Evidence from Asset Purchase Restriction Spillovers

Yinglu Deng, Tsinghua University

Li Liao, Tsinghua University

Jiaheng Yu, Massachusetts Institute of Technology

Yu Zhang, Peking University

 

Spillovers in Prices: The Curious Case of Haunted Houses

Utpal Bhattacharya, The Hong Kong University of Science and Technology

Daisy Huang, Southwestern University of Finance and Economics

Kasper Meisner Nielsen, Copenhagen Business School and The Hong Kong Univeristy of Science and Technology


Discussants:

Yu Zhang, Peking University

Jennifer (Jie) Li, Shanghai Jiao Tong University

Li An, Tsinghua University


Monday, July 08, 2019, 10:30 - 12:15

(Shadow) Banking - Room 1-100, 1/F Building 1

Hao Wang, Tsinghua University

 

Implicit Guarantees and the Rise of Shadow Banking: The Case of Trust Products

Franklin Allen, Imperial College London

Xian Gu, Central University of Finance and Economics

Jun Qian, Fudan University

Yiming Qian, The University of Iowa

 

The Risk of Implicit Guarantees: Evidence from Shadow Banks in China

Ji Huang, The Chinese University of Hong Kong

Zongbo Huang, The Chinese University of Hong Kong, Shenzhen

Xiang Shao, Fudan University

 

Internal Ratings and Loan Contracting: Evidence from a State-owned Bank around a Massive Economic Stimulus Programme

Hongqi Yuan, Fudan University

Yiyuan Zhou, The University of Hong Kong

Hong Zou, The University of Hong Kong

 

Discussants:

Bibo Liu, Tsinghua University

Haoyu Gao, Central University of Finance and Economics

Zhuo Chen, Tsinghua University


Monday, July 08, 2019, 10:30 - 12:15

Corporate Governance - Room 1-200, 2/F Building 1

Xuan Tian, Tsinghua University

 

Education and Innovation: the Long Shadow of the Cultural Revolution

Zhangkai Huang, Tsinghua University

Gordon Phillips, Dartmouth College

Jialun Yang, Tsinghua University

Yi Zhang, Nottingham University

 

Information Sharing between Mutual Funds and Auditors

Ole-Kristian Hope, University of Toronto

Pingui Rao, Jinan University

Yanping Xu, Jinan University

Heng Yue, Singapore Management University

 

Public Enforcement of Securities Laws in Weak Institutional Environments: Evidence from China

Tinghua Duan, IÉSEG School of Management

Kai Li, The University of British Columbia

Rafael Rogo, Indiana University

Ray Zhang, Simon Fraser University

 

Discussants:

Rui Wu, Tsinghua University

Bo Li, Tsinghua University

       Ping Jiang, University of International Business and Economics