DAY 2: FRIDAY, MAY 28

Sessions 27 through 50

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JOIN Session 27 – Governance:  Gender and Bank Board

Friday, May, 28, 7:30-9:00 A.M.(PST)

 

Chairperson: Maximilian Rohrer, Norwegian School of Economics, Maximilian.Rohrer@nhh.no

 

She innovates - Female ownership and innovation in India

Shreya Biswas,  Birla Institute of Technology and Science, Pilani, Hyderabad Campus,  shreya@hyderabad.bits-pilani.ac.in;

Shreya Lahiri, BITS Pilani

 

The Effect of Female Leadership on Contracting from Capitol Hill to Main Street

Nataliya Gerasimova,  Norwegian School of Economics,  nataliya.gerasimova@nhh.no

Maximilian Rohrer, Norwegian School Of Economics; Maximilian.Rohrer@nhh.no

 

Bank Board Network and Financial Stability in Emerging Markets

Shreya Biswas,  Birla Institute of Technology and Science, Pilani, Hyderabad Campus,  shreya@hyderabad.bits-pilani.ac.in

Rajnish Kumar, Independent Researcher

 

JOIN Session 28 - Investment and Special Indices

Friday, May, 28, 7:30-9:00 A.M.

 

Chairperson: Binam Ghimire, Northumbria University, Newcastle, UK;

binam.ghimire@northumbria.ac.uk

 

Size Matters? Market size analysis of stranded assets

Binam Ghimire,  Northumbria University,  binam.ghimire@northumbria.ac.uk

Tooraj Jamasb, Copenhagen Business School

 

Ulcer Index-N and Ulcer Performance Index-N

Alireza Dastan,  University of California, Merced,  adastan@ucmerced.edu

Russ McBride, University of California, Merced

 

Why can’t investors pick the right index fund?

Ricardo Barahona, Erasmus University/Tilburg Univesity,  barahona@ese.eur.nl

 

 

JOIN Session 29 – Banking: Methodology and Loan Quality

Friday, May, 28, 7:30-9:00 A.M.

 

Chairperson: Jeanne Amar, University of Côte d’azur, GREDEG, CNRS, FRANCE; Jeanne.AMAR@univ-cotedazur.fr

 

The Global Project Assessment Method:  a new tool to bridge the gap between cost-benefit analysis and budgetary decisions

Jeanne Amar, University of Côte d’azur, GREDEG, CNRS,  Jeanne.AMAR@univ-cotedazur.fr

V.Piron, Piron Consulting

 

An overview of shadow banking activity in Brazil

Mariana Oreng,  EAESP-FGV,  mariana.oreng@gmail.com

Richard Saito, EAESP-FGV

 

Bank Loan Quality and Managerial Ability in times of crisis: Evidence from the USA

Hasanul Banna, Universiti Malaya, banna@um.edu.my

M.Kabir Hassan, University of New Orleans

 

 

JOIN Session 30 – Governance and Corporate Structure

Friday, May, 28, 7:30-9:00 A.M.

 

Chairperson: Yuka Nishikawa,  College of Charleston, S. Carolina, USA; nishikaway@cofc.edu

 

Corporate Restructuring in Founder-Led Firms

Yuka Nishikawa,  College of Charleston,  nishikaway@cofc.edu

Edward Lawrence, Florida International University

 

Do performance, ownership, and governance influence CEO turnover? Evidence from Brazil

Sergio Foldes Guimaraes, Coppead,  sergio.foldes@coppead.ufrj.br

Andre Luiz Carvalhal, Coppead

 

Do Powerful CEOs make efficient investment decisions

Md Raihan Uddin Chowdhury,  The University of Texas at El Paso,  mchowdhury6@miners.utep.edu

Feixue Xie, Unit of Texas at El Paso

 

TOP MANAGEMENT TURNOVER IN BRAZIL – THE ROLE OF CORPORATE GOVERNANCE IN FAMILY-CONTROLLED COMPANIES

Sergio Foldes Guimaraes, Coppead,  sergio.foldes@coppead.ufrj.br

André Luiz Carvalhal da Silva, COPPEAD

 

 

JOIN Session 31 – ESG, SRI Funds, and Green Bonds

Friday, May, 28, 7:30-9:00 A.M.

 

Chairperson:   Iraj Fooladi, Dalhousie University, Dalhousie University, CANADA, iraj.fooladi@dal.ca   

 

Share repurchases, undervaluation, and corporate social responsibility

Nils-Christian Bobenhausen, RWTH Aachen University,  nils.bobenhausen@bfw.rwth-aachen.de

Andreas Knetsch, RWTH Aachen University

Astrid Salzmann, IESEG School of Management

 

The Effect of Issuance documentation readability on Liquidity: Evidence from Green bonds

Syrine SASSI, South Champagne Business School,   syrine.sassi@yschools.fr

Martin Lebelle, Universite Paris Est

Souad Lajili, Universite Paris Est

What Causes SRI Funds to Perform Differently? The case of the Jantzi Social Index

Iraj Fooladi,  Dalhousie University,  iraj.fooladi@dal.ca

Gregory Hebb, Dalhousie University

 

 

JOIN Session 32 - Capital Structure and Performance

Friday, May, 28, 9:30-11:00 A.M.

 

Chairperson: Elisabete S. Vieira,University of Aveiro; elisabete.vieira@ua.pt  

 

Financial distress and the speed of adjustment toward target short-term debt ratio: an analysis of           manufacturing SMEs

Elisabete S. Vieira,University of Aveiro; elisabete.vieira@ua.pt  

Filipe Sardo, University of Aveiro,  fsardo@ua.pt fsardo@ua.pt   

Filipe Sardo, University of Aveiro,  fsardo@ua.pt fsardo@ua.pt   

Zélia Serrasqueiro,  Universidade da Beira Interior,  zelia@ubi.pt

Manuel Rocha Armada University of Minho; rarmada@eeg.uminho.pt

 

The Implied Equity Term Structure

Tomas Jankauskas,  Tilburg University,  t.jankauskas@tilburguniversity.edu

Lieven Baele, Joost Driessen, Tilburg University

 

Corruption, Immigration & Refugees: New Determinants in the Capital Structure of Companies.

Samuel de Paiva Naves Mamede, Presbyterian University; samuel.mamede@mackenzie.br

Wilson Toshiro Nakamura, Mackenzie Presbyterian University; wilson.nakamura@mackenzie.br

Manuel Rocha Armada, University of Mihho, Braga, Portugal; rarmada@eeg.uminho.pt

 

Zero leverage and firm performance: when nothing is better

Flávio Morais, University of Beira Interior (UBI), Portugal, flavio.morais@ubi.pt

Zélia Serrasqueiro, University of Beira Interior (UBI), Portugal, zelia@ubi.pt

Joaquim J.S. Ramalho, Instituto Universitário de Lisboa (ISCTE-IUL), Portugal, jjsro@iscte-iul.pt

 

 

JOIN Session 33 – Investment:  Strategy and Sentiment

Friday, May, 28, 9:30-11:00 A.M.

Chairperson: Kelley Bergsma, Ohio University. USA; bergsma@ohio.edu

 

Culture, Comovement, and Style Investing: Evidence from Europe

Kelley Bergsma, Ohio University,  bergsma@ohio.edu

Raylin Fetherolf, Global Finance & Business Management Analyst

 

First Mover Advantage in Financial Markets

Shenru Li, West Virginia University,  sl0045@mix.wvu.edu

 

Overnight Returns and Investor Sentiment Further Evidence from Various Trader Types on the Taiwan Stock Market

Ping-Chieh Tsai, National Sun Yat-sen University,  d084030002@g-mail.nsysu.edu.tw

Wei-Che Tsai. National Sun Yat Sen University

Pei-Shih Weng, National Sun Yat Sen University

 

 

JOIN Session 34 - Banking and Strategic Default

Friday, May, 28, 9:30-11:00 A.M.

 

Chairperson: Samuel Rosen, Temple University, Philadelphia, PA, USA; sir@temple.edu

 

Security Sales in the Banking Sector

Samuel Rosen, Temple University,  sir@temple.edu

Xun Zhong, Fordham University

 

Strategic Default in Relationship Banking

Nitin Vishen, Indian School of Business,  nitin_vishen@isb.edu 

 

The Cost of Complying with Higher Capital Requirements for Chinese Commercial Banks: A Perspective of the Shadow Cost

Mingquan Zhou, University of Auckland,  mzho439@aucklanduni.ac.nz

 

 

JOIN Session 35 - Venture Capital and Innovation

Friday, May, 28, 9:30-11:00 A.M.

 

Chairperson: Demir Yener, Johns Hopkins University, demiryener@gmail.com

 

Clean-tech Venture Capital Investment in the United States, 1995-2020

Yochanan Shachmurove, The City College of CUNY,  ys4624@nyu.edu

 

Does Family Matter? Venture Capital Cross-fund Cash Flows

Huizhu Sun, Luxembourg Institute of Science and Technology,  huizhu.sun@list.lu

Roman Kraussl, University of Luxemborg; Kalle Rinne, University of Luxembourg and Mandatum Life

 

Time for Innovation?

 Christian Sturm,  Accadis Hochschule, Germany, christian.sturm@accadis.net

 

Mergers and acquisitions, institutional ownership, and the agency costs of free cash flow

Parianen Veeren, Concordia University, parianen.veeren@concordia.ca

Nilanjan Basu, Concordia University

Xilin Zhang, Concordia University.

 

 

JOIN Session 36 – KEYNOTE ADDRESS

Friday, May, 28, 11:30 A.M.-1:00 P.M.

 

 

 

Professor Lemma W. Senbet, William E. Mayer Chair Professor of Finance,

 

Founding Director of the Center for Financial Policy,

Executive Director of the African Economic Research Consortium (AERC).

Robert H. Smith School, University of Maryland.

 

An Untold Story: Finance and Public Policy

 

Professor Senbet shares one of the Smith School’s stories on his joint research with a global team. It is the study of a remarkably innovative and entrepreneurial bank in Kenya (= Equity Bank) with a business model that has targeted the poorest communities in underserved and neglected areas. Evidence yields social impact while making money.

 

JOIN Session 37 - Blockchain and Cryptocurrency

Friday, May, 28, 1:30-3:00 P.M.

 

Chairperson: Monzurul Hoque, Saint Xavier University, Chicago, IL, USA; hoque@sxu.edu 

 

Digitization and the evolution of money as a social technology of account

Michael Peneder, Austrian Institute of Economic Research,  michael.peneder@wifo.ac.at

 

In a world of new money such as CBDCs and cryptocurrencies – which money can be trusted?

Kym Brown, Monash University,  kym.brown@monash.edu

 

Is Cryptocurrency the Future of Money?

Monzurul Hoque, Saint Xavier University,  hoque@sxu.edu

 

 

JOIN Session 38 - Panel Presentation negative interest rates on the global financial system

Friday, May, 28, 1:30-3:00 P.M.

 

Moderator:  Krishnan Dandapani, Florida International University; dandapan@fiu.edu

 

Panelists:  Xiaomeng Lu, Florida International University; xlu014@fiu.edu

Sandrine Docgne Penlap, Florida International University, sdocgnep@fiu.edu;

Marcos Velasquez, Florida International University, mvela137@fiu.edu; and

Le Zhao, Florida International University.  Le Zhao <lzhao006@fiu.edu>

 

This panel examines the impact of negative interest rates on global financial system. The quantum and growth of negative interest yielding securities in the world economy (due to extensive Quantitative Easing and asset purchases by major global central banks) are enormous and have resulted in the issuance of more than $18.04 trillion as of December 2020.  As reported in Bloomberg, more than 30% of the global bonds have negative yields.  The panel discusses the implications of these low rates for the financial system.

 

JOIN Session 39 - Volatility and the Behavior of Shorts

Friday, May, 28, 1:30-3:00 P.M.

 

Chairperson: Paul L. Baker, University of Bath, AUSTRALIA; P.L.Baker@bath.ac.uk

 

A False Discovery Rate Approach to Optimal Volatility Forecasting Model Selection

Arman Hassanniakalager, University of Bath,  ah2493@bath.ac.uk

Paul L. Baker, University of Bath,

Emmanouil Platanakis, University of Bath

 

Covariance Matrix Jumps In High-Frequency Financial Markets

      Yuri Hupka, Oklahoma State University, hupka@okstate.edu

Louis R. Piccotti, Oklahoma State University

 

Unconventional monetary policy and the behavior of shorts

Christopher Neely, FRB St. Louis,  ChristopherNeely@live.com

Thomas McInish, University of Memphis     

Jade Planchon, Rhodes College

 

 

JOIN Session 40 - Global Linkages and Entrepreneurship/Venture Capital

Friday, May, 28, 1:30-3:00 P.M.

 

Chairperson: Stefano Zedda, University of Cagliari, ITALY; szedda@unica.it  

 

Interconnected Market Hypothesis: A Conceptual Model of Individualistic, Information-based Interconnectedness

James Kinsella, University of Bath,  jk2008@bath.ac.uk

Richard Fairchild, University of Bath

Emmanouil Platanakis, University of Bath

 

Are (Real) Interest Rates Stationary in the Super-Long Run?

Maximilian Ambros, maximilian.ambros@whu.edu

Michael Frenkel, WHU, GERMANY - Michael.Frenkel@whu.edu

 

Clustering default syndromes.docx

Zedda Stefano, University of Cagliari, szedda@unica.it

 

 

JOIN Session 41 – Exchange Rates, Home Country Bias, and Real Estate Exposure

Friday, May, 28, 3:30-5:00 P.M.

 

Chairperson: Leonard Lundstrum, Northern Illinois University, USA; llundstrum@niu.edu  

 

Remittances and the Exchange Rate

Kenneth Tah, Mercer University,  tah_ka@mercer.edu

James McKenzie, Martin Plukka and E’majah Parson, Mercer University

 

Foreign CEOs and Home Country Bias in Acquisitions

Kirill Pervun, University of South Florida,  kpervun@usf.edu

 

Does investable real estate exposure improve the mean-variance investor's global investment opportunities?

Leonard Lundstrum, Northern Illinois University,  llundstrum@niu.edu

 

 

JOIN Session 42 – ESG, Insider Trading, and Crash Risk

Friday, May, 28, 3:30-5:00 P.M.

 

Chairperson:  Guanming He, Durham University,  guanming.he@durham.ac.uk

 

What drives strategic Corporate Social Responsibility?

Rania Beji, University of Montpellier,  bji.rania@gmail.com

Ouidad Yousfi, Universite de Montpellier

 

How do insider trading incentives affect nonfinancial disclosures? Evidence from product and business expansion disclosures

Guanming He, Durham University,  guanming.he@durham.ac.uk

 

Stock price crash risk: A critique of the agency theory viewpoint

Marina Magidou, Cyprus University of Technology,  mn.magidou@edu.cut.ac.cy

Panayiotis C, Cyprus University, Neophytos Lambertides, Durham University

 

The effect of ESG disclosure on corporate investment efficiency

Joonsung Won, Baruch College, Joonsung.Won@baruch.cuny.edu

Elsa Allman, Baruch College

 

 

JOIN Session 43 – COVID-19

Friday, May, 28, 3:30-5:00 p.m.

 

Chairperson: Harry Xia, California State University, Fresno, CA, USA; Hxia@csufresno.edu  

 

Interrelations between sovereign CDS rates and COVID-19 data: First wave versus the second wave

Yossi Saadon,  Bank of israel,  yosis@boi.org.il

Jonathan Benchimol, Bank of Israel     Itamar Caspi, Ben Z Schreiber, Bar-Iiiam University    

 

Local Response to Global Crisis  - The effect of COVID-19 pandemic on SMEs and government export assistance programs in Central California

Harry Xia, California State University, Fresno,  Hxia@csufresno.edu  

Emil Milevoj, CSU Fresno,

Marcus Goncalves, Boston University

 

Special state aid measures during COVID-19 and corporate dividend policy

Katarzyna Schmidt, Poznań University of Economics and Business,  katarzyna.schmidt@ue.poznan.pl

Marta Kluzek, The Poznan University of Economics and Business

 

 

JOIN Session 44 – Hedge Funds, Defined Benefit Pension Funds, and Global Political Risk

Friday, May, 28, 3:30-5:00 P.M.

 

Chairperson:  Robinson Reyes Pena, Florida International University,  roreyes@fiu.edu

 

Global political risk and international stock returns

Giovanni Pagliardi, giovanni.pagliardi@bi.no

 

Vito D. Gala, Pacific Investment Management Company (PIMCO), USA, vito.gala@gmail.com

Stavros A. Zenios, University of Cyprus, zenios.stavros@ucy.ac.cy.

 

The Impact of AI Talents on Hedge Fund Performance

 Xuxi Guo, Georgia State University,  gxuxi1@gsu.edu  

Zhen Shi, Georgia State

 

The Influence of Religiosity on Defined Benefit Pension Funds

Afak Nazim, Florida International University,  anazi008@fiu.edu  

Edward Lawrence, Florida International University

Robinson Reyes-Peña, Florida International University

JOIN Session 45 – Covid-19 and Working from Home

Friday, May, 28, 5:30-7:00 P.M.

 

Chairperson:   Miriam Sosa, Metropolitan Autonomous University, msosac87@hotmail.com

 

Does Working from Home Decrease Profitability and Productivity? Evidence from the Mutual Fund Industry

Han Xiao, Pennsylvania State University,  hxx15@psu.edu                                                 

 

Effect of COVID-19 on ETF and Index efficiency: Evidence from an Entropy-based analysis

Kunal Saha,  Institute for Financial Management & Research, Chennai, India,  kunal.saha@ifmr.ac.in

Vinodh Madhavan, Ahemdabad University     

G.R. Chandrashekhar, Krea University

 

From Biological to Financial Contagion: the COVID19 Outbreak Impact on International Stock Markets Volatility

Miriam Sosa,  Metropolitan Autonomous University,  msosac87@hotmail.com

Edgar Ortiz, Universidad Nacional Autonome de Mexico)

Alejandra Cabello, Universidad Nacional Autonome de Mexico

 

                             

JOIN Session 46 - Banking and the Impact of Opacity and Non-interest Income Activities  

May, 28, 5:30-7:00 P.M.

Chairperson: Da Wu, Clark University, DaWu@clarku.edu

 

The Impact of Floating NAV Rule on MMF Borrowers

Pritam Saha, Texas Tech University,  pritam.saha@ttu.edu   

 

The Impact of Non-interest Income Activities on Bank Loans:  Decision-maker’s Ability versus Luck

Hsiao-Jung Chen, Southern Taiwan University of Science and Technology,  hjchen@stust.edu.tw

Yong Xin Ge, Southern Taiwan University of Science and Technology

 

PRERECORDED LINK:

The Impact of Opacity on Bank Valuation During the Financial Crisis: A Channel Analysis

Yi Zheng, SUNY New Paltz,  zhengy@newpaltz.edu

Da Wu, Clark University, DaWu@clarku.edu

 

 

JOIN Session 47 – ESG and Workplace Safety

Friday, May, 28, 5:30-7:00 P.M.

 

Chairperson:  M. Hashemi Joo, North Carolina A&T State University; hashemm@westminster.edu

 

Performance of S&P 500 ESG Indices: The impact of weighting methodologies and ESG ratings

Nicolas Webersinke,  Friedrich-Alexander University Erlangen-Nürnberg,  nicolas.webersinke@fau.de

Benjamin Hubel, FAU Germany

Hendrik Scholz, FAU Germany

 

Do independent directors enhance workplace safety?

M. Hashemi Joo, North Carolina A&T State University, mhashemijoo@gmail.com

A. M. Parhizgari, Florida International University

 

Risky Corporate-customers:  Workplace safety and labor supply chain decision

Sangeun Ha, Hong Kong University of Science and Technology,  encorforyou@gmail.com

 

The Effect of Extreme Weather on Suppliers’ Financial Transparency: The Need for Greater Disclosure

Jocelyn Evans, School of Business, College of Charleston; EvansJ@cofc.edu

 

 

JOIN Session 48 – ESG and Climate Change

Friday, May, 28, 5:30-7:00 P.M.

 

Chairperson:   Ahmed Elshahat, Univ. of Pittsburg, aelshahat@gmail.com

 

The Impact of Climate Change and Innovation on Firm Performance

Le Zhao, Florida International University

A. M. Parhizgari, Florida International University

 

The association between environmental performance and financial performance: The Case of Egypt-

Ahmed Elshahat, Univ. of Pittsburg, aelshahat@katz.pitt.edu;   ahe10@pitt.edu

Sherine I. El-Mohr, Arab Academy of Science and Technology and Maritime Transport
Islam Elshahat, Towson University
Mohamed B. Hassan, Egyptian Ministry of Finance

 

Pricing in Climate Change Could Bring Risks of its Own

Julie Segal,  N/A,  juliesegal9@gmail.com

 

 

JOIN Session 49 – Climate Risk, Lottery Stocks, and Acquisition

Friday, May, 28, 5:30-7:00 P.M.

 

Chairperson: Shingo Goto, University of Rhode Island; shingo_goto@uri.edu

 

Climate Risk and Credit Ratings

Nhu Tran,  ntran1@binghamton.edu

 

The Lottery-like Stocks Characteristics in Saudi Arabia

Saad Alshammari, University of Rhode Island,  saalshammari@uri.edu   

Shingo Goto, University of Rhode Island

 

Information Acquisition and Market Efficiency in M&As: Evidence from SEC EDGAR Web Traffic

Joanna (Xiaoyu) Wang, Georgia State University, xwang58@gsu.edu

PRERECORDED:  

https://www.dropbox.com/sh/vm6i4o5w4tjnalf/AABN8GPPNei00gP28fQMzzKVa?dl=0

 

Indirect Evergreening Using Related Parties: Evidence from India.

Sriniwas Mahapatro, Indian School of Business, sriniwas mahapatro@isb.edu  ,

Nishant Kashyap, Indian School of Business, nishant kashyap@isb.edu  

Prasanna Tantri, Indian School of Business, prasanna tantri@isb.eduIndian

 

Session 50 – Recognitions and Awards

Friday, May, 28, 7:30-9:00 P.M.

 

All Participants

 

GFC Executive Members

Program Chairs

 

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Best Wishes for all