29th Annual Global Finance Conference Program

Top Papers

Foreign Bias in Equity Portfolios: Informational Advantage or Familiarity Bias?

Martijn Boermans (De Nederlandsche Bank), Ian Cooper(London Business School), Piet Sercu (KU Leuven), Rosanne Vanpee (KU Leuven)

Performance of SRI Funds Under Different Economic Regimes Determined Macroeconomic Factors that Follow First-Order K-State Markov Chain

Ali Fatemi (DePaul University), Iraj Fooladi> (Dalhousie University), Yonggan Zhao (Dalhousie University)

 

Corporate Control and Shareholder Activism in Germany: an Empirical Analysis of Hedge Fund Strategies

Wolfgang Bessler (University of Hamburg)

 

Mandatory Pension Saving and Homeownership

Bjarne Astrup Jensen (Universität Konstanz and Copenhagen Business School), Bjarne Astrup Jensen (Copenhagen Business School), Marlene Koch (Universität Konstanz)

 

Relationship Between Engagements in Corporate Social Irresponsibility, Corporate Social Responsibility, and Firm Value

Anita Mendiratta (Indian Institute of Technology, Delhi), Shveta Singh (Indian Institute of Technology, Delhi), Surendra Yadav (Indian Institute of Technology, Delhi), Arvind Mahajan (Texas A&M University)

 

Endogenous Dynamic Concentration of the Active Fund Management Industry

David Feldman (UNSW Sydney), Jingrui Xu (Xiamen University)

 

The Impact of the Brexit Referendum on UK Greenfield Foreign Direct Investment Inflows - Insights from a County Perspective

Michael Frenkel (WHU - Otto Beisheim School of Management), Haiko Stefan (WHU - Otto Beisheim School of Management)

 

 

PROGRAM

 

Day 1 - Monday, June 20, 2022

 

09:00 - Parallel Sessions A

10:30 - Break

11:00 - Parallel Sessions B

12:30 - Break

14:00 - Parallel sessions C

15:30 - Break

16:00 - Parallel Sessions D

18:30 - Welcome Reception

 

The Welcome Reception will take place at the Nogueira da Silva Museum. Buses depart from the conference venue at 18:00.

 

 

Day 2 - Tuesday, June 21, 2022

 

9:00 - Parallel Sessions E

10:30 - Break

11:00 - Special session on Sustainability and Corporate Social Responsibility

12:00 - Break

14:00 - Parallel Sessions F

15:30 - Break

16:00 - Keynote Address

 

Special session on Sustainability and Corporate Social Responsibility

 

Room B1

 

Ali Fatemi (DePaul University)

Iraj Fooladi (Dalhousie University)

Manuchehr Shahrokhi (California State University, Fresno)

 

Keynote Address

 

Room B1

 

Climate Financial Risk: Portfolios and Stress Tests

Robert Engle (New York University)

 

 

Day 3 - Wednesday, June 22, 2022

 

09:00 - Parallel Sessions G

10:30 - Break

11:00 Parallel Special Session B/C

Parallel Special Session B

Room B1: Special Session on Corporate Governance

Lemma Senbet (University of Maryland)

Parallel Special Session C

Room B2: Special session on Real Options and M&As

Dean Paxson (University of Manchester)
Lenos Trigeorgis (University of Cyprus)
Paulo J. Pereira (University of Porto)

Program Matrix

Monday, June 20, 2022

 

A: 09:00 - 10:30

A1 - Sustainability and Corporate Social Responsibility I                     0.01 

A2 - Risk, Debt and Interest Rates                                                          0.03 

A3 - Mergers and Acquisitions and Corporate Investments                0.05 

A4 - Securities Issues, Private Equity and Foreign Investment            0.07 

B: 11:00 - 12:30

B1 - Risk and Asset Pricing                                                                      0.01 

B2 - Financial Markets                                                                             0.03 

B3 - Volatility and Risk Measures                                                            0.05 

B4 - Derivatives I                                                                                      0.07 

C: 14:00 - 15:30

C1 - Sustainability and Corporate Social Responsibility II                   0.01 

C2 - Blockchain and Cryptocurrencies                                                  0.03 

C3 - Corporate Governance and Dividend Policy                                0.05 

C4 - Mutual Funds and Social Responsibility                                        0.07 

C5 - Fintech, Artificial Intelligence and Machine Learning                  0.15 

D: 16:00 - 17:30

D1 - Derivatives and Real Options                                                        0.01 

D2 - Entrepreneurship and Crowdfunding                                           0.03 

D3 - Banking I                                                                                          0.05 

D4 - Behavioral Finance I                                                                        0.07 

Tuesday, June 21, 2022

E: 09:00 - 10:30

E1 - Corporate Social Responsibility and Ethics                                   0.01 

E2 - Behavioral Finance II                                                                        0.03 

E3 - Global Finance                                                                                 0.05 

E4 - Banking II                                                                                          0.07 

E5 - Corporate Governance and Shareholder Activism                       0.11 

F: 14:00 - 15:30

F1 - Corporate Social Responsibility/ESG                                             0.01 

F2 - Empirical Finance                                                                             0.03 

F3 - Accounting and Finance                                                                  0.05 

F4 - Empirical Asset Pricing                                                                     0.07 

F5 - Banking and Cryptocurrencies                                                        0.11 

Wednesday, June 22, 2022

G: 09:00 - 10:30

G1 - Sustainability and Corporate Social Responsibility III                  0.01 

G2 - Banking III                                                                                        0.03 

G3 - Corporate Governance                                                                  0.05 

G4 - Sustainability and Corporate Social Responsibility IV                 0.07 

G5 - Venture Capital and Innovation                                                     0.11 

G6 - Corporate finance and performanceB2

Sessions

 

Monday 

Session A1: Sustainability and Corporate Social Responsibility I

Room: 0.01

Session Chair: Johannes A. Barg (University of Hamburg)

 

CSR and Financial Crisis: Worldwide Evidence from Covid-19 Pandemic

Niccolo Nirino (University of Turin), Nicola Miglietta (University of Turin), João Paulo Vieito (Polytechnic Institute of Viana do Castelo)

Discussant: Johannes A. Barg (University of Hamburg)

Paper

 

Factor Exposures of Environmental, Social, and Governance (ESG) Indexes

Asli Ascioglu (Bryant University), Kemal Saatcioglu (Rhode Island College)

Discussant: Asli Ascioglu (Bryant University)

Paper

 

Board Ancestral Diversity and Voluntary Greenhouse Gas Emission Disclosure

Johannes A. Barg (University of Hamburg), Wolfgang Drobetz (University of Hamburg), Sadok El Ghoul (University of Alberta), Omrane Guedhami (University of South Carolina)

Discussant: Kemal Saatcioglu (Rhode Island College)

Paper

 

How Pervasive Is Greenwashing? an Examination of Short Selling Based on Environmental, Social, and Governance (Esg) Ratings

Asli Ascioglu (Bryant University), Juan Gonzalez (Bryant University), Kemal Saatcioglu (Rhode Island College)

Discussant: João Paulo Vieito (Polytechnic Institute of Viana do Castelo)

Paper

Session A2: Risk, Debt and Interest Rates

Room: 0.03

Session Chair: Julian Fernandez (Copenhagen Business School)

 

A New Approach to Markowitz Portfolio Optimization Using Ruin-Based Outcomes

Abraham Hernández-Pacheco (ISEG & CEMAPRE; President of VITALIS Expertos en Pensiones; Past Chairman of PBSS-International Actuarial Association), Roberto Carcache (Researcher at VITALIS Expertos en Pensiones; Member of PBSS-International Actuarial Association)

Discussant: Julian Fernandez (Copenhagen Business School)

Paper

 

The Cspp Impact on Non-Financial Firms’ Cost of Borrowing and Debt Choice

Joana Kanda (Universidade Católica Portuguesa, Católica Porto Business School), João Pinto (Universidade Católica Portuguesa, Católica Porto Business School and CEGE), Beatriz Silva (Universidade Católica Portuguesa, Católica Porto Business School)

Discussant: Roberto Carcache (VITALIS Expertos en Pensiones)

Paper

 

Price Elasticity of Demand and Risk-Bearing Capacity in Sovereign Bond Auctions

Rui Albuquerque (Boston College), José-Miguel Cardoso-Costa (Banco of Portugal), Jose Faias (Catolica Lisbon SBE)

Discussant: João Pinto (Católica Porto Business School)

Paper

 

Exchange Rate Uncertainty, Uncovered Interest Rate Parity, and Fx Interventions

Julian Fernandez (Copenhagen Business School)

Discussant: Jose Faias (Catolica Lisbon SBE)

Paper

 

Session A3: Mergers and Acquisitions and Corporate Investments

Room: 0.05

Session Chair: Artur Rodrigues (University of Minho)

 

Do Earnouts Create the Right Incentives?: Earnings Management Around Earnout-Based Acquisitions

António Pedro Coelho (University of Minho), Gilberto Loureiro (University of Minho)

Discussant: Gabriele Lattanzio (Nazarbayev University)

Paper

 

M&A and Cybersecurity Risk: Empirical Evidence

Gabriele Lattanzio (Nazarbayev University), Jerome Taillard (Babson College)

Discussant: António Pedro Coelho (University of Minho)

Paper

 

Ipo Firms and the Desire to Acquire: Evidence from Germany

Fatemeh Zare (Technical University of Darmstadt), Linus Köke (Technical University of Darmstadt), Berkay Ulusoy (Technical University of Darmstadt), Daniel Vollmer (Technical University of Darmstadt)

Discussant: Artur Rodrigues (University of Minho)

Paper

 

Investment and Leverage with Caps and Floors

Artur Rodrigues (University of Minho)

Discussant: Fatemeh Zare (Technical University of Darmstadt)

Paper

 

Session A4: Securities Issues, Private Equity and Foreign Investment

Room: 0.07

Session Chair: Carlos Gutierrez Mangas (University of Chicago)

 

Deviations from the Law of One Price: Chinese Cross-Listings and the Ah Ratio as an Equity Return Factor

Carlos Gutierrez Mangas (University of Chicago)

Discussant: Michael Silva (Universidade Regional de Blumenau - FURB)

Paper

 

The Impact of the Brexit Referendum on Uk Greenfield Foreign Direct Investment Inflows - Insights from a County Perspective

Michael Frenkel (WHU - Otto Beisheim School of Management), Haiko Stefan (WHU - Otto Beisheim School of Management)

Discussant: Carlos Gutierrez Mangas (University of Chicago)

Paper

 

Influence of the Investor’s Short-Term Horizon on Ipo Performance: an Emerging Markets Perspective

Michael Silva (Universidade Regional de Blumenau - FURB), Tarcísio Silva (Universidade Regional de Blumenau - FURB)

Discussant: Haiko Stefan (WHU - Otto Beisheim School of Management)

Paper

 

Session B1: Risk and Asset Pricing

Room: 0.01

Session Chair: Giuliano Curatola (University of Siena)

 

Learning from Heightened Equity Premium

Beatrice Sagna (Universite Paris Dauphine PSL)

Discussant: Michael Silva (Universidade Regional de Blumenau - FURB)

Paper

 

Risk and Risk-Reward in Finance Theory. the Nobel Prize Lecture by Merton H. Miller – 30 Years Later.

Tomasz Berent (Warsaw School of Economics, Poland)

Discussant: Beatrice Sagna (Universite Paris Dauphine PSL)

Paper

 

Asset Prices when Large Investors Interact Strategically

Giuliano Curatola (University of Siena)

Discussant: Tomasz Berent (Warsaw School of Economics)

Paper

 

The Influence of the Dynamic Structure of Capital on the Economic Performance of the European and Brazilian Companies Listed on Stock Market

Roberto Soares Júnior (Regional University of Blumenau - FURB/BRAZIL), Tarcisio da Silva (Regional University of Blumenau - FURB), Maycon da Rosa (Regional University of Blumenau - FURB/BRAZIL), Michael Silva (Regional University of Blumenau - FURB/BRAZIL)

Discussant: Giuliano Curatola (University of Siena)

Paper

 

Session B2: Financial Markets

Room: 0.03

Session Chair: David Feldman (UNSW Sydney)

 

Endogenous Dynamic Concentration of the Active Fund Management Industry

David Feldman (UNSW Sydney), Jingrui Xu (Xiamen University)

Discussant: Antonio Figueiredo (Nova Southeastern University)

Paper

 

Externalities of Foreign Institutional Ownership: Evidence from Supplier Innovation

Bingxuan Lin (University of Rhode Island), Minghai Wei (Sun Yat-sen University), Xiaowei Xu (University of Rhode Island), Zhaoying Yi (Capital University of Economics and Business)

Discussant: David Feldman (UNSW Sydney)

Paper

 

Do Financial Markets Anticipate Corporate-Related Decisions of the United States Supreme Court?

Kate Suslava (Bucknell University), Yehuda Davis (Yeshiva University), Suresh Govindaraj (Rutgers University)

Discussant: Bingxuan Lin (University of Rhode Island)

Paper

 

Global Portfolio Optimization Via Fx Option Implied Volatilities

Antonio Figueiredo (Nova Southeastern University), Brice Dupoyet (Florida International University), Ali Parhizgari (Florida International University)

Discussant: Kate Suslava (Bucknell University)

Paper

 

Session B3: Volatility and Risk Measures

Room: 0.05

Session Chair: Wolfgang Schadner (University of St. Gallen)

 

Expected Randomness

Wolfgang Schadner (University of St. Gallen)

Discussant: Lykourgos Alexiou (University of Liverpool Management School)

Paper

 

Nailing down Volatile Temperatures: Examining Their Effects on Asset Prices

Leonardo Bortolan (University of Bologna), Atreya Dey (University of Edinburgh Business School), Luca Taschini (London School of Economics & University of Edinburgh Business School)

Discussant: Wolfgang Schadner (University of St. Gallen)

Paper

 

What Are the Events that Shake Our World? Measuring and Hedging Geovol

Susana Campos Martins (University of Oxford)

Discussant: Atreya Dey (University of Edinburgh Business School)

Paper

 

Pricing Event Risk: Evidence from Concave Implied Volatility Curves

Lykourgos Alexiou (University of Liverpool Management School), Alexandros Kostakis (University of Liverpool Management School), Amit Goyal (Swiss Finance Institute, University of Lausanne), Leonidas Rompolis (Athens University of Economics and Business)

Discussant: Susana Campos Martins (University of Oxford)

Paper

 

Session B4: Derivatives I

Room: 0.07

Session Chair: Andreas Christopoulos (Yeshiva University)

 

Synthetic Cap Rate Indices (1991-Covid Era)

Andreas Christopoulos (Yeshiva University - Sy Syms School of Business), Joshua Barratt (Barratt Consulting), Daniel Ilut (Cornell University)

Discussant: Mário Fernandes (Iscte - Instituto Universitário de Lisboa)

Paper

 

Two-Side Filtration Model of Financial Asset Pricing with Idiosyncratic Noise

Pavel Levin (St John’s University)

Discussant: Andreas Christopoulos (Yeshiva University)

Paper

 

Economic Analysis of Public Service Obligations on Air Transport Using Real Option Analysis

André Oliveira (University of the Azores), Gualter Couto (University of the Azores), Pedro Pimentel (University of the Azores)

Discussant: Pavel Levin (St John’s University)

Paper

 

Modeling Energy Futures Prices Under Alternative Time-Varying Volatility Dynamics

Mário Fernandes (Business Research Unit (ISCTE)), José Dias (Business Research Unit and ISCTE), João Nunes (Business Research Unit and ISCTE)

Discussant: André Oliveira (University of the Azores)

Paper

 

Session C1: Sustainability and Corporate Social Responsibility II

Room: 0.01

Session Chair: Carlos Alves (University of Porto)

 

Zero Leverage on SMEs: Is Sustainable Development Influencing the Phenomenon?

Flávio Morais (University of Beira Interior, Department of Management and Economics), Luís Marques (University of Beira Interior, Department of Management and Economics), Zélia Serrasqueiro (University of Beira Interior, Department of Management and Economics), Joaquim Ramalho (Department of Economics & Business Research Unit (BRU-IUL), Instituto Universitário de Lisboa (ISCTE-IUL),)

Discussant: Ana Dinis (Polytechnic Institute of Cávado and Ave (IPCA))

Paper

 

Commitment to ESG and CEO Compensation: Wealth Generation or Reallocation?

Carlos Alves (University of Porto), Joaquim Fontes-Filho (Fundação Jetúlio Vargas, Rio de Janeiro, Brasil)

Discussant: Flávio Morais (University of Beira Interior)

Paper

 

Company-Level Ghg Emissions and an Institutional Investor’s Active Ownership Objective: Long-Term Shareholder, Socially Responsible Investor, Common Owner or Stakeholder-Oriented Shareholder?

Robert Annabel (University of New South Wales), Arghya Ghosh (University of New South Wales), Anthony Asher (University of New South Wales)

Discussant: Carlos Alves (University of Porto)

Paper

 

Tax Law and the Environment: Car Taxation in Portugal

Ana Dinis (Research Centre on Accounting and Taxation (CICF), Polytechnic Institute of Cávado and Ave (IPCA)), Sara Dias (Research Centre for Justice and Governance (JusGov), University of Minho; Polytechnic Institute of Cávado and Ave (IPCA))

Discussant: Robert Annabel (University of New South Wales)

Paper

 

Session C2: Blockchain and Cryptocurrencies

Room: 0.03

Session Chair: Monzurul Hoque (Saint Xavier University)

 

Cryptocurrency Valuation: an Explainable Ai Approach

Luyao Zhang (Duke Kunshan University), Yulin Liu (SciEcon CIC and Bochsler Finance)

Discussant: Monzurul Hoque (Saint Xavier University)

Paper

 

Are Decentralized Finance Really Decentralized? a Social Network Analysis of Aave Protocol on Ethereum Blockchain

Ziqiao Ao (Duke Kunshan University), Gergely Horvath (Duke Kunshan University), Luyao Zhang (Duke Kunshan University)

Discussant: Luyao Zhang (Duke Kunshan University)

Paper

 

Cryptocurrencies: Composition of Investment Portfolios – Covid Challenges

Marco Santos (Universidade Aveiro), Mara Madaleno (Universidade de Aveiro and GOVCOPP), Júlio Lobão (Faculdade de Economia, Universidade do Porto)

Discussant: Luyao Zhang (Duke Kunshan University)

Paper

 

Antebellum Free Banking in a World of Ai and Blockchain – a Second Coming?

Monzurul Hoque (Saint Xavier University, Chicago)

Discussant: Marco Santos (Universidade Aveiro)

Paper

 

Session C3: Corporate Governance and Dividend Policy

Room: 0.05

Session Chair: Marco Rispoli (University of Milano-Bicocca)

 

Determinants of Dividend Payout Policy: Evidence from Emerging Markets of G20 Bloc

Wagner Dantas de Souza Junior (Regional University of Blumenau), Mohamed Mehdi Hijazi (University of Barcelona), Tarcísio Pedro da Silva (Regional University of Blumenau)

Discussant: Maria Elisabete Neves (Polytechnic of Coimbra)

Paper

 

Debt Maturity and Cost-Complementarities

Marco Rispoli (University of Milano-Bicocca)

Discussant: Mohamed Mehdi Hijazi (University of Barcelona)

Paper

 

Geographic Matching Between Firm Internationalization and Board Foreignness

Hong Zhao (NEOMA Business School), Samia Belaounia (NEOMA Business School)

Discussant: Marco Rispoli (University of Milano-Bicocca)

Paper

 

Corporate Governance and Corporate Social Responsibility on Iberian Corporate Performance: Panel Data Evidence

Maria Elisabete Neves (Polytechnic of Coimbra, Coimbra Business School Research Centre| ISCAC, Coimbra Portugal.), Adriana Santos (NA), Catarina Proença (NA), Carlos Pinho (NA)

Discussant: Samia Belaounia (NEOMA Business School)

Paper

Session C4: Mutual Funds and Social Responsibility

Room: 0.07

Session Chair: Iraj Fooladi (Dalhousie University)

 

Performance Persistence and Style Consistency of Indian Fixed Income Mutual Funds – a Longitudinal Study

Mayank Patel (J G University, Ahmedabad, India.), Vinodh Madhavan (Amrut Mody School of Management, Ahmedabad University, India), Supratim Das Gupta (Amrut Mody School of Management, Ahmedabad University, India)

Discussant: Michael Prendergast (NA)

Paper

 

Relationship Between Engagements in Corporate Social Irresponsibility, Corporate Social Responsibility, and Firm Value

Anita Mendiratta (Indian Institute of Technology, Delhi), Shveta Singh (Indian Institute of Technology, Delhi), Surendra Yadav (Indian Institute of Technology, Delhi), Arvind Mahajan (Texas A&M University)

Discussant: Mayank Patel (J G University)

Paper

 

Performance of Sri Funds Under Different Economic Regimes Determined Macroeconomic Factors that Follow First-Order K-State Markov Chain

Ali Fatemi (DePaul University), Iraj Fooladi (Dalhousie University), Yonggan Zhao (Dalhousie University)

Discussant: Arvind Mahajan (Texas A&M University)

Paper

 

Mutual Fund Allocations that Maximize Safe Portfolio Returns

Michael Prendergast (Self)

Discussant: Nargess Kayhani (Mount Saint Vincent University)

Paper

Session C5: Fintech, Artificial Intelligence and Machine Learning

Room: 0.15

Session Chair: Javier Gil-Bazo (Universitat Pompeu Fabra)

 

Beyond Proptech: Asymmetries in Financing Real Estate Innovation

Thomas Hall (Christopher Newport University)

Discussant: Monzurul Hoque (Saint Xavier University)

Paper

 

Ai in Business Management

Ralf Wandmacher (accadis Hochschule Bad Homburg), Christian Sturm (accadis Hochschule Bad Homburg), Philipp Weber (accadis Hochschule Bad Homburg)

Discussant: Thomas Hall (Christopher Newport University)

Paper

 

Machine Learning and Fund Characteristics Help to Select Mutual Funds with Positive Alpha

Victor DeMiguel (London Business School), Javier Gil-Bazo (Universitat Pompeu Fabra), Francisco J. Nogales (Universidad Carlos III de MadridAndre), Andre A. P. Santos (University of Edinburgh Business School and Department of Economics, Universidade Federal de Santa Catarina)

Discussant: Christian Sturm (accadis Hochschule Bad Homburg)

Paper

 

Session D1: Derivatives and Real Options

Room: 0.01

Session Chair: Dean Paxson (Alliance Manchester Business School)

 

Dynamic Debt with Intensity Based Models

João Reis (Instituto Universitário de Lisboa (ISCTE-IUL) & Business Research Unit (BRU-IUL), Lisboa, Portugal), José Dias (Instituto Universitário de Lisboa (ISCTE-IUL) & Business Research Unit (BRU-IUL), Lisboa, Portugal)

Discussant: Dean Paxson (Alliance Manchester Business School)

Paper

 

Auctions and Real Options: Bidding for Feed-In Tariff

Luciana Barbosa (Business Research Unit (BRU-IUL) and Iscte - Instituto Universit ́ario de Lisboa), Cláudia Nunes (CEMAT and Instituto Superior Técnico, Universidade de Lisboa), Artur Rodrigues (NIPE and School of Economics and Management, University of Minho), Alberto Sardinha (INESC-ID and Instituto Superior Técnico, Universidade de Lisboa)

Discussant: João Reis (Iscte - Instituto Universitário de Lisboa)

Paper

 

Real Layered Collar Options

Dean Paxson (Alliance Manchester Business School, University of Manchester), Roger Adkins (School of Management, University of Bradford)

Discussant: Luciana Barbosa (Iscte - Instituto Universitário de Lisboa)

Paper

 

Session D2: Entrepreneurship and Crowdfunding

Room: 0.03

Session Chair: Thomas Hall (Christopher Newport University)

 

Estimation of Default and Pricing for Invoice Trading (P2b) in Crowdlending Platforms

Cristian Marques (Universidade de Santiago de Compostela), Luis Otero (Universidade de Santiago de Compostela), Pablo Durán (Universidade de Santiago de Compostela)

Discussant: Ashay Kadam (Goa Institute of Management)

Paper

 

What Determines Global Flows of Entrepreneurial Finance?

Thomas Hall (Christopher Newport University)

Discussant: Cristian Marques (Universidade de Santiago de Compostela)

Paper

 

The Economic Angel Investor Approaches: Economic or Strategic.

Hamilcar Vaz do Vale (Universidade de São Paulo USP), Roy Martelanc (Universidade de São Paulo)

Discussant: Thomas Hall (Christopher Newport University)

Paper

 

Effect of Caste on Access to Finance for Enterprises in India’s Unorganised Sector

Ashay Kadam (Faculty of Finance, Goa Institute of Management, India), Prakash Singh (Faculty of Economics, Goa Institute of Management, India), Jayati Chatterjee (Humanities and Social Sciences, Indian Institute of Technology Madras, India.)

Discussant: Hamilcar Vaz do Vale (Universidade de São Paulo)

Paper

 

Session D3: Banking I

Room: 0.05

Session Chair: Alain Schatt (HEC Lausanne)

 

Which Factors Play a Role in Coco Issuance? Evidence from European Banks.

Theo Vermaelen (INSEAD), Sara Wagner (BIL), Christian Wolff (University of Luxembourg)

Discussant: Alain Schatt (HEC Lausanne)

 

Bank Ownership and Control in an Emerging Market: Changes in Risk and Return

Basak Tanyeri Gunsur (Bilkent University), Aslihan Salih (TED University)

Discussant: Christian Wolff (University of Luxembourg)

Paper

 

The Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments

Christian Mücke (Goethe University Frankfurt - GSEFM and Leibniz Institute for Financial Research SAFE e.V.), Loriana Pelizzon (Leibniz Institute for Financial Research SAFE e.V., Goethe University Frankfurt, Ca’ Foscari University of Venice, and CEPR), Vincenzo Pezone (Tilburg University), Anjan Thakor (Washington University in St. Louis, ECGI, FTG Fellow, and MIT LFE research affiliate)

Discussant: Basak Tanyeri Gunsur (Bilkent University)

Paper

 

Audit Effort in Global Systemic Banks

Gerald Lobo (University of Houston), Romain Oberson (University of Québec), Alain Schatt (HEC Lausanne)

Discussant: Christian Mücke (Goethe University Frankfurt)

Paper

 

Session D4: Behavioral Finance I

Room: 0.07

Session Chair: Renata Herrerias (ITAM)

 

Björn Borg Vs. New Wave Group: Stock Ownership and Company Name Fluency

H. Kent Baker (American University), Adri De Ridder (Uppsala University, Campus Gotland), Auke Plantinga (University of Groningen)

Discussant: Robinson Reyes Pena (Florida International University)

Paper

 

The Effect of Personality Traits on Household Finance: Evidence from Europe

Rashed Ashqar (University of Porto), Júlio Lobão (University of Porto)

Discussant: Adri De Ridder (Uppsala University)

Paper

 

Financial Behavior and the Misconception of Financial Inclusion

Renata Herrerias (ITAM, Department of Business Administration), Cecilia M. O. Alvarez (ITAM, Department of Business Administration)

Discussant: Rashed Ashqar (University of Porto)

Paper

 

Hot Potatoes: Underpricing of Stocks Following Extreme Negative Returns

Mustafa Caglayan (Florida International University), Edward Lawrence (Florida International University), Robinson Reyes Pena (Florida International University)

Discussant: Renata Herrerias (ITAM)

Paper

Tuesday June 21, 2022

Session E1: Corporate Social Responsibility and Ethics

Room: 0.01

Session Chair: Charli Tandja (UQO)

 

Does It Pay to Be Green? the Impact of Equator Principles on Project Loans

Gabriel Power (Laval University, Canada), Charli Tandja (UQO, Canada)

Discussant: Bijitaswa Chakraborty (Indian Institute of Technology Kharagpur)

Paper

 

Too Invested to Change: the Role of Uncertainty Avoidance on Firms’ Greenhouse Gas Emissions

Marcos Velazquez (Florida International University), Arun Upadhyay (Florida Intenational University), Abu Amin (Central Michigan University)

Discussant: Luis Vicente (University of Zaragoza)

Paper

 

Does the Information in the Csr Disclosure Designate Value Relevance or Impression Management: a Content Analysis Approach in the Indian Context

Bijitaswa Chakraborty (Indian Institute of Technology Kharagpur, India), Titas Bhattacharjee (Indian Institute of Technology Kharagpur, India)

Discussant: Marcos Velazquez (Florida International University)

Paper

 

Ethical Window Dressing: Sri Funds Are as Good as Their Word

Fernando Muñoz (University of Zaragoza (Spain)), Cristina Ortiz (University of Zaragoza (Spain)), Luis Vicente (University of Zaragoza (Spain))

Discussant: Charli Tandja (UQO)

Paper

 

Session E2: Behavioral Finance II

Room: 0.03

Session Chair: Cristiana Cerqueira Leal (University of Minho)

 

How Retail Investors Affect Stock Market?

Xiaozhou Zhou (Faculty of Management (ESG),University of Quebec at Montreal), Feng Zhan (University of Western Ontario), Chang Chan (Department of Finance and Cooperative Management, National Taipei University)

Discussant: Cristiana Cerqueira Leal (University of Minho)

Paper

 

Can Salience Theory Explain Investor Behaviour? Real-World Evidence from the Cryptocurrency Market

Rongxin Chen (University of Southampton), Chung-Ching Tai (University of Southampton), Gabriele Lepori (University of Southampton), Ming-Chien Sung (University of Southampton)

Discussant: Feng Zhan (University of Western Ontario)

Paper

 

Evolution of Investor Sentiment: a Systematic Literature Review and Bibliometric Analysis

Nhan Huynh (Department of Applied Finance, Macquarie Business School, Macquarie University, Australia)

Discussant: Rongxin Chen (University of Southampton)

Paper

 

The Impact of Financial Literacy and Personality Traits on Financial Behaviour

Ana Isabel Araújo (University of Minho), Cristiana Cerqueira Leal (NIPE & EEG, University of Minho)

Discussant: Nhan Huynh (Macquarie University)

Paper

 

Session E3: Global Finance

Room: 0.05

Session Chair: Caroline Orth (Universidade Federal do Rio Grande do Sul (UFRGS))

 

Evolution of Institutionalist Thought: Ceremonial-Instrumental Dichotomy of the Veblen-Ayres Tradition

Caroline Orth (Universidade Federal do Rio Grande do Sul), Clea Macagnam (Universidade do Vale do Rio dos Sinos), Fabiano Coelho (Universidade do Vale do Rio dos Sinos), Marlla Feitosa (Universidade do Vale do Rio dos Sinos)

Discussant: Manuel Graça (University of Porto)

Paper

 

Measuring Financial Cycles: Empirical Evidence for Germany, United Kingdom and United States of America

Tiago Dutra (Instituto Universitario de Lisboa (ISCTE-IUL)), Jose Carlos Dias (Instituto Universitario de Lisboa (ISCTE-IUL)), Joao Teixeira (Universidade dos Açores (SBE))

Discussant: Caroline Orth (Universidade Federal do Rio Grande do Sul (UFRGS))

Paper

 

Impact of Mobile Money on Resilience to Health Shocks in Sub-Saharan Africa: Evidence from Togo

Ayi Gavriel Ayayi (Université du Québec à Trois Rivières, Québec, Canada), Hamitande Dout (Université du Québec à Trois Rivières, Québec, Canada), Mawuli Kodjovi Couchoro (Université de Lomé, Togo), Pagnamam Yekpa (Université de Lomé, Togo)

Discussant: Tiago Dutra (Iscte - Instituto Universitário de Lisboa)

Paper

 

Sustainability and Organizational Ambidexterity: the Relevance for the Analysis in the Field of Finance

Manuel Graça (Faculdade de Economia da Universidade do Porto), Isabel Correia (Universidade do Minho, Escola de Economia e Gestão)

Discussant: Pagnamam Yekpa (Université de Lomé)

Paper

Session E4: Banking II

Room: 0.07

Session Chair: Bjarne Astrup Jensen (Copenhagen Business School)

 

Forecasting Crash Risk in U.s. Bank Returns - the Role of Credit Booms

Marius Mihai (Widener University), Iqbal Mansur (Widener University)

Discussant: Filipe Correia (University of Georgia)

Paper

 

Mandatory Pension Saving and Homeownership

Bjarne Astrup Jensen (Universität Konstanz and Copenhagen Business School), Bjarne Astrup Jensen (Copenhagen Business School), Marlene Koch (Universität Konstanz)

Discussant: Marius Mihai (Widener University)

Paper

 

Technology Use, Performance and Profitability in the South Asian Banking Sector: Partial Least Squares Analysis

Piyadasa Edirisuriya (Monash University)

Discussant: Bjarne Astrup Jensen (Copenhagen Business School)

Paper

 

The Online Payday Loan Premium

Filipe Correia (University of Georgia), Peter Han (University of Illinois), Jialan Wang (University of Illinois)

Discussant: Piyadasa Edirisuriya (Monash University)

Paper

 

Session E5: Corporate Governance and Shareholder Activism

Room: 0.11

Session Chair: Wolfgang Bessler (University of Hamburg)

 

Do Registered Investment Funds Undermine Shareholder Activism? Evidence from Hedge Fund Proposals

Gilberto Loureito (Associate Professor of Finance, University of Minho & NIPE), Cesar Mendonça (Ph.D. candidate, University of Minho & NIPE)

Discussant: Wolfgang Bessler (University of Hamburg)

Paper

 

Corporate Control and Shareholder Activism in Germany: an Empirical Analysis of Hedge Fund Strategies

Wolfgang Bessler (University of Hamburg)

Discussant: Feixue Xie (The University of Texas at El Paso)

Paper

 

Corruption as Institutional Fragility and Foreign Direct Investment a Study in Developing Countries

Marlla Feitosa (Universidade Federal do Sul e Sudeste do Pará (UNIFESSPA)), Clea Beatriz Macagnam (Universidade do Vale do Rio dos Sinos), Caroline Orth (Universidade Federal do Rio Grande do Sul (UFRGS)), Fabiano Simões Coelho (Universidade do Vale do Rio dos Sinos)

Discussant: Cesar Mendonça (University of Minho)

Paper

 

Impact of Bottom-Up Internal Governance on Risk-Taking and Corporate Decisions

Md Raihan Uddin Chowdhury (The University of Texas at El Paso), Feixue Xie (The University of Texas at El Paso)

Discussant: Marlla Feitosa (Universidade do Vale do Rio dos Sinos)

Paper

 

Session F1: Corporate Social Responsibility/ESG

Room: 0.01

Session Chair: Florinda Silva (University of Minho)

 

In Search of Inclusive ESG Ratings: Solving the Csr-Financial Performance Link

Pablo Vilas (University of Zaragoza), Laura Andreu (University of Zaragoza), José L. Sarto (University of Zaragoza)

Discussant: Maria Ceu Cortez (University of Minho)

Paper

 

Disagreement in Mutual Fund Sustainability Labelling

Sofia Brito-Ramos (ESSEC Business School, France), Maria Ceu Cortez (NIPE - School of Economics and Management, University of Minho), Florinda Silva (NIPE - School of Economics and Management, University of Minho)

Discussant: José L. Sarto (University of Zaragoza)

Paper

 

Effects of Corporate Social Responsibility on Firms’ Capital Structure Choice

Ana Vinhas (Universidade Aveiro), Mara Madaleno (Universidade de Aveiro and GOVCOPP)

Discussant: Helen Popper (Santa Clara University)

Paper

 

Climate Change Salience and International Equity Returns

David Climate Change Salience and International Equity Returns (Vanderbilt University), Helen Popper (Santa Clara University)

Discussant: Ana Vinhas (Universidade Aveiro)

Paper

 

Session F2: Empirical Finance

Room: 0.03

Session Chair: Atreya Dey (University of Edinburgh Business School)

 

What Is the Role of Finance and Productivity for Sme Growth?

Zélia Serrasqueiro (University of Beira Interior), Beatriz Pinto (University of Beira Interior), Filipe Sardo (University of Beira Interior)

Discussant: Rogerio Adelino (Universidade Mackenzie)

Paper

 

Non-Financial Information, Financial Analysts’ Industrial Expertise, and Target Price Accuracy

Alain Schatt (HEC Lausanne), Adam Aoun (EHL Hospitality Business School Singapore), Michel DUBOIS (University of Neuchâtel)

Discussant: Zélia Serrasqueiro (University of Beira Interior)

Paper

 

Surging Sovereign Spreads: the Impact of Rising Seas on Sovereign Risk

Atreya Dey (University of Edinburgh Business School)

Discussant: Adam Aoun (EHL Hospitality Business School)

Paper

 

Arbitrage Implications in Pricing of Volatility Futures

Rogerio Adelino (Universidade Mackenzie), Leonardo Cruz Basso (Universidade Mackenzie), Eli Haddad Jr (Universidade Mackenzie)

Discussant: Atreya Dey (University of Edinburgh Business School)

Paper

 

Session F3: Accounting and Finance

Room: 0.05

Session Chair: Eli Hadad Junior (Universidade Presbiteriana Mackenzie)

Benefits of Having a Female Cfo

Kate Suslava (Bucknell University), Joshua Livnat (NYU and PGIM), Julia Klevak (PGIM)

Discussant: Eli Hadad Junior (Universidade Presbiteriana Mackenzie)

Paper

 

Evaluating Brazilian Companies in the Electricity Sector, from the Perspective of Fundamental Analysis, Using Methods of Multicriteria Decision Support.

Felipe Fortuna Lucas (All Investimentos – XP Investimentos), Carlos Francisco Simões Gomes (Federal Fluminense University), Marcos dos Santos (Military Engineering Institute), Solange Fortuna Lucas (Brazilian Institute of Geography and Statistics)

Discussant: Kate Suslava (Bucknell University)

Paper

 

Economic-Financial Performance of Sugar-Energy Companies in the South-Central Region of Brazil

Eli Hadad Junior (Universidade Presbiteriana Mackenzie), Lucas Iugas Correa (NA), Ana Lucia Fontes de Souza Vasconcelos (Universidade Presbiteriana Mackenzie), Paola Richter Londero (Serviço Nacional de Aprendizagem do Cooperativismo no Estado de São Paulo)

Discussant: Felipe Fortuna Lucas (Brazilian Institute of Geography and Statistics)

Paper

 

Session F4: Empirical Asset Pricing

Room: 0.07

Session Chair: Ian Cooper (London Business School)

 

Fund Trading Divergence and Performance Contribution

Ruth Gimeno (Accounting and Finance Department and Institute of Research in Employment, Digital Society and Sustainability, University of Zaragoza), Laura Andreu (Accounting and Finance Department and Institute of Research in Employment, Digital Society and Sustainability, University of Zaragoza), José Luis Sarto (Accounting and Finance Department and Institute of Research in Employment, Digital Society and Sustainability, University of Zaragoza)

Discussant: Peter Lerner (Anglo-American University)

Paper

 

Foreign Bias in Equity Portfolios: Informational Advantage or Familiarity Bias?

Martijn Boermans (De Nederlandsche Bank), Ian Cooper (London Business School), Piet Sercu (KU Leuven), Rosanne Vanpee (KU Leuven)

Discussant: Ruth Gimeno (University of Zaragoza)

Paper

 

Securities Lending and Trading by Active and Passive Funds

Pekka Honkanen (Terry College of Business, University of Georgia)

Discussant: Ian Cooper (London Business School)

Paper

 

The Market Drives Etfs or Etfs the Market: Causality Without Granger

Peter Lerner (Anglo-American University, Prague)

Discussant: Pekka Honkanen (University of Georgia)

Paper

 

Session F5: Banking and Cryptocurrencies

Room: 0.11

Session Chair: Yassine Bakkar (Queen’s University Belfast)

 

Borrower- and Lender-Based Macroprudential Policies: What Works Best Against Bank Systemic Risk?

Yassine Bakkar (Queen’s University Belfast)

Discussant: Ricardo Cabral (ISEG, University of Lisbon)

Paper

 

Economic Modelling of the Bitcoin Mining Industry

Louis Bertucci (Institut Louis Bachelier), Charles Bertucci (Ecole Polytechnique), Jean-Michel Lasry (Université Paris-Dauphine), Pierre-Louis Lions (Collège de France)

Discussant: Yassine Bakkar (Queen’s University Belfast)

Paper

 

The Liquidationist ‘Genie’ Within the Eurozone’s Banking Union

Ricardo Cabral (ISEG, University of Lisbon)

Discussant: Louis Bertucci (Institut Louis Bachelier)

Paper

 

Fintech Effect on Paradigm Shift in Edtech

Monzurul Hoque (Saint Xavier University, Chicago)

Discussant: Javier Gil-Bazo (Universitat Pompeu Fabra)

Paper

 

Sok: Blockchain Decentralization

Luyao Zhang (Duke Kunshan University), Xinshi Ma (Duke University), Yulin Liu (NA)

Discussant: Nelson Areal (University of Minho)

Paper

 

Wednesday June 22, 2022

Session G1: Sustainability and Corporate Social Responsibility III

Room: 0.01

Session Chair: Benedito Aguiar Neto (Universidade Presbiteriana Mackenzie)

 

Sustainability Assessment and Its Relationship with Green Innovation in Its Manufacturing Systems and New Products: the Case of a Brazilian Organization

Maria Célia Oliveira (Universidade Presbiteriana Mackenzie), Alaercio Nicoletti Junior NA (Universidade Presbiteriana Mackenzie), Virgínia do Socorro Motta Aguiar NA (Universidade Presbiteriana Mackenzie), Benedito Guimarães Aguiar Neto NA (Universidade Presbiteriana Mackenzie)

Discussant: Victor Dragotă (Bucharest University of Economic Studies)

Paper

 

Sustainability Trends and Their Synergy with Circular Economy, Esg and Green Innovation Practices

Maria Célia Oliveira (Universidade Presbiteriana Mackenzie), Benedito Aguiar Neto (Universidade Presbiteriana Mackenzie), Virgínia do Socorro Motta Aguiar (Universidade Presbiteriana Mackenzie), André Luís Helleno (Universidade Presbiteriana Mackenzie)

Discussant: Jiawei Wang (University of Iowa)

Paper

 

Egalitarianism, Hierarchy, and Dividend Policy

Victor Dragotă (Bucharest University of Economic Studies, Department of Finance, and Center of Financial and Monetary Research (CEFIMO)), Ingrid-Mihaela Dragotă (Bucharest University of Economic Studies, Department of Finance), Hanaan Yaseen (Bucharest University of Economic Studies, Finance Doctoral School, and Center of Financial and Monetary Research (CEFIMO)), Cosmin-Octavian Cepoi (Bucharest University of Economic Studies, Department of Money and banking, and Center of Financial and Monetary Research (CEFIMO))

Discussant: André Luís Helleno (Universidade Presbiteriana Mackenzie)

Paper

 

Climate Policy Uncertainty and Firm Pollutant Emission

Jiawei Wang (University of Iowa)

Discussant: Maria Célia Oliveira (Universidade Presbiteriana Mackenzie)

Paper

 

Session G2: Banking III

Room: 0.03

Session Chair: Iuliana Ismailescu (Pace University)

 

Digital-Only Banks – Awareness and the Level of Acceptance: Evidence from Poland

Katarzyna Schmidt-Jessa (Poznań University of Economics and Business), Maciej Stradomski (Poznań University of Economics and Business)

Discussant: Katarzyna Kwiatkowska (Univeristy of Szczecin)

Paper

 

Borrowing Costs and Personal Collateral in Sme Lending

Ana Paula Gama (University of Beira Interior)

Discussant: Katarzyna Schmidt-Jessa (Poznań University of Economics and Business)

Paper

 

Bank Financial Strength Ratings Vs. Credit Ratings: Evidence from the Cds Market

Iuliana Ismailescu (Pace University, USA), John Ruddy (University of Scranton, USA)

Discussant: Ana Paula Gama (University of Beira Interior)

Paper

 

Give Change a Chance - Bank Profitability and Board Changes

Dorota Skała (Univeristy of Szczecin, Institute of Economics and Finance), Urszula Mrzygłód (University of Gdańsk, Faculty of Economics), Joanna Rachuba (Univeristy of Szczecin, Institute of Economics and Finance), Katarzyna Kwiatkowska (Univeristy of Szczecin, Doctoral School, Institute of Economics and Finance)

Discussant: Iuliana Ismailescu (Pace University)

Paper

 

Session G3: Corporate Governance

Room: 0.05

Session Chair: Germán López-Espinosa (Universidad de Navarra - IESE Business School)

 

Ownership Structure, Board Composition and Ceo Dominance, What Really Matter to Corporate Deleveraging Policies

Aamer Shahzad (Department of Commerce, University of the Punjab, Gujranwala Campus, Pakistan), Main Sajid Nazir (Institute of Administrative Sciences University of the Punjab, Lahore, Pakistan & HEC Montreal, University of Montreal, Canada), Flávio Morais (Department of Management and Economics Universidade da Beira Interior, Portugal), Affaf Asghar Butt (Department of Business Administration University of the Punjab, Gujranwala Campus, Pakistan)

Discussant: Germán López-Espinosa (Universidad de Navarra - IESE Business School)

Paper

 

Challenge Accepted: Impacts of a Strong Minoritary Shareholder

Filipe Ferreira (Universidade de São Paulo), Roy Martelanc (Universidade de São Paulo)

Discussant: Flávio Morais (University of Beira Interior)

Paper

 

The Role of National and Gender Board Diversity on Firm Performance: a Perspective from the Iberian Stock Markets

João Teodósio (Polytechnic Institute of Santarém, School of Management and Technology, Santarém, Portugal), Elisabete Vieira (Higher Institute of Accounting and Administration, University of Aveiro, Aveiro, Portugal), Mara Madaleno (Department of Economics Management and Industrial Engineering, University of Aveiro, Aveiro, Portugal)

Discussant: Filipe Ferreira (Universidade de São Paulo)

Paper

 

Does Managerial Remuneration Affect Corporate Frauds?

Sadrita Deb (Assistant Professor Bharathidasan Institute of Management Tiruchirapalli India), Abhijeet Chandra (Assistant Professor Vinod Gupta School of Management Indian Institute of Technology Kharagpur India)

Discussant: João Teodósio (Polytechnic Institute of Santarém)

Paper

 

Loan Loss Reserves Underprovisioning in U.s. Banks: Managerial Preferences for Gambling

Marina Balboa (Universidad de Alicante), Germán López-Espinosa (Universidad de Navarra - IESE Business School), Antonio Rubia (Universidad de Alicante), Lenos Trigeorgis (University of Cyprus)

Discussant: Sadrita Deb (Bharathidasan Institute of Management)

Paper

 

Session G4: Sustainability and Corporate Social Responsibility IV

Room: 0.07

Session Chair: Arvind Mahajan (Texas A&M University)

 

A Conceptual Framework for Developing Islamic Venture Capital Roadmap

Khurram Sharif (Qatar University)

Discussant: Samuel Mamede (Mackenzie Presbyterian University)

Paper

 

A Blended Strategy to Improve Financial Performance? Exploring the Impact of Internationalization and Csr

Guillermo Badía (Deusto Business School, University of Deusto (Spain)), Laura Baselga-Pascual (Deusto Business School, University of Deusto (Spain)), Aitor Garmendia-Lazcano (Deusto Business School, University of Deusto (Spain)), Lidia Lobán (Deusto Business School, University of Deusto (Spain))

Discussant: Khurram Sharif (Qatar University)

Paper

 

The Effects of Esg Violations on Firm Value?

Rakesh Mallipeddi (Tulane University), Arvind Mahajan (Texas A&M University), Subodha Kumar (Temple University)

Discussant: Guillermo Badía (University of Deusto)

Paper

 

The Impact of Corruption on Corporate Debt

Samuel Mamede (Mackenzie Presbyterian University), Manuel Armada (University of Minho)

Discussant: Arvind Mahajan (Texas A&M University)

Paper

 

Session G5: Venture Capital and Innovation

Room: 0.11

Session Chair: Eleonora Isaia (University of Torino)

 

You Can’t Be What You Can’t See: the Role of Gender in the Intergenerational Transmission of Entrepreneurship

Noemi Oggero (Univeristy of Turin)

Discussant: Jie Zhang (Trent University)

Paper

 

Young Generation and Potential Use of Robo-Advisors

Eleonora Isaia (University of Torino, Italy, Department of Management), Noemi Oggero (University of Torino, Italy, Department of Management)

Discussant: Benedito Aguiar Neto (Universidade Presbiteriana Mackenzie)

Paper

 

From Technological Innovation to Product Innovation: the Perking Order of Arm’s Length Financing for Corporate Innovation Process

Denis Schweizer (Concordia University), Aoran Zhang (University of Nottingham), Jie Zhang (Trent University), Yufei Zhao (Concordia University)

Discussant: Eleonora Isaia (University of Torino)

Paper

A New Integrated Innovation System Approach with Induced Innovation Policy in the Perspective of Transformative Change

Benedito Aguiar Neto (Universidade Presbiteriana Mackenzie-Escola de Engenharia), Virginia Motta Aguiar (Universidade Presbiteriana Mackenzie-Escola de Engenharia), Manuel José Rocha Armada (Universidade do Minho-Escola de Economia e Gestão)

Discussant: Noemi Oggero (Univeristy of Turin)

Paper

Session G6: Corporate finance and performance

Room: B2

Session Chair: Harry Xia (California State University, Fresno)

 

Insiders and M&A Announcements: What Are Those Insiders Up To?

Ya Gao (University of Manitoba), Xiaozhou Zhou (University of Quebec in Montreal), Jian Song (McMaster University), Jun Wen (Xi’an Jiaotong University)

Discussant: Omid Sabbaghi (University of Detroit Mercy)

Paper

 

Fair Value Accounting and Decision Usefulness for Smes in Macau – from Stakeholders’ Perspective

Tan Cheng Lok (City University of Macau, Macau), Harry Xia (California State University, Fresno, USA)

Discussant: Xiaozhou Zhou (University of Quebec at Montreal)

Paper

 

Overvaluation, Industry Sectors, and the Cross-Section of Volatility: Recent Evidence

Omid Sabbaghi (University of Detroit Mercy, College of Business Administration)

Discussant: Harry Xia (California State University, Fresno)

Paper