INNOVATIVE RESPONSIBLE ENGAGED

11th Financial Markets and Corporate Governance Conference

Governance, Corporate Culture

and Financial Markets Virtual Conference, 7 – 9 April, 2021

INNOVATIVE | RESPONSIBLE | ENGAGED

OVERVIEW WELCOME I

MEMBERS OF THE EXECUTIVE COMMITTEE 1

FMCG LIFETIME OUTSTANDING ACHIEVEMENT AWARDS 2

Contribution to Excellent Research in Finance 2

Contribution to Finance Academia in Australia 3

Contribution to Accounting Academia in Australia 4

Contribution to Accounting Academia in NZ 4

PLENARY SPEAKERS 5

SPECIAL ACADEMIC PANEL SESSION I – ENDOGENEITY 9

SPECIAL ACADEMIC PANEL SESSION II – EDITORS 10

PRACTITIONER PANELS 11

MEMBERS OF THE PROGRAM COMMITTEE 16

MEMBERS OF THE PHD SYMPOSIUM COMMITTEE 17

SELECTION COMMITTEE: CONFERENCE BEST PAPER AWARDS 18

SELECTION COMMITTEE: PHD SYMPOSIUM AWARDS 18

CONFERENCE PROGRAM 19

Day One: 7 April 19

Day Two: 8 April 34

Day Three: 9 April 41

HOSTS AND SPONSORS 56

i……….11th FMCG Conference

Welcome La Trobe Business School in conjunction with the CFA society, Auckland University of Technology, Deakin University, Macquarie University, Monash University, Queensland University of Technology, RMIT University, University of South Australia and Victoria University of Wellington is proud to present the 11th Financial Markets and Corporate Governance Conference and PhD symposium.

On behalf of the La Trobe University community, I’d like to welcome you to the 11th Financial Markets and Corporate Governance Conference being hosted by the La Trobe Business School.

La Trobe is especially pleased to be presenting this year’s conference following the cancellation of the event planned for 2020 due to the COVID-19 pandemic. While the conference will be held virtually this year, the fact that so many impressive speakers and participants are joining in the discussions shows that there is much enthusiasm for continuing to work together and collaborate.

The 2021 conference will discuss a broad range of issues and trends that are relevant not just in Australia, but across the globe. I’m sure that you will gain new insights and understandings of the key issues facing the finance sector, and hope will be able to network and develop new contacts that will be useful in your future projects.

Finally, I would like to congratulate Professor Balasingham Balachandran and the organising committee on putting together such an impressive program; and thank those universities that have contributed by supporting the committee’s work and by hosting parallel sessions online. I wish you well in your discussions.

Professor John Dewar AO Vice-Chancellor La Trobe University

On behalf of La Trobe University, I would like to welcome you to the 2021 Financial Markets and Corporate Governance (FMCG) Conference.

The inaugural FMCG Conference took place in 2010 when La Trobe brought together a hundred academics and practitioners from 17 different countries to present and share their research papers. I am delighted the success of that first Conference has continued and we are welcoming you now in our 11th year.

The Conference brings together leading experts to explore the current and emerging trends on a domestic and international scale. I’m sure that you will discover many interesting, relevant and timely insights, and will enjoy the sessions we have curated for you. We have an impressive line-up of panellists, speakers, presenters and talented PhD students and I thank them for their time and for sharing their insights.

Although the Conference is being held remotely this year, I encourage you to take advantage of the networking opportunities. Please reach out to our speakers and presenters after the events, to share your insights and make new connections. We sincerely hope to be meeting in person again in the future.

I’d like to recognise the hard work of the organising committee, including our partner universities for making the 2021 Conference possible under challenging circumstances.

Professor Susan Dodds Deputy Vice Chancellor (Research and Industry Engagement) La Trobe University

11th FMCG Conference ………. 1

Members of the Executive Committee

I welcome you to the 11th Financial Markets and Corporate Governance Conference. This conference presents a tremendous opportunity for academics, PhD students and practitioners to collaborate and develop new ideas. It is pleasing to note that 42 PhD students and more than 250 academics from 28 countries are presenting their research. I thank each of you for your presentations and for empowering discussion at this conference.

We are particularly fortunate in being able to welcome world renowned academics as our keynote speakers and panellists. Of a particular note, this year’s event will feature industrial keynote speakers focussing on the future of superfunds, sustainable investment, and future of ASIC. This year, we are also recognizing the outstanding achievements of Professors Tom Smith, Peter Swan, Robert Faff, Terry Walter, Stephen Taylor, and Tony van Zijl. We hope you find this conference inspiring, transformative and enjoyable.

Finally, I would like to thank our sponsors and our partner universities who are hosting concurrent sessions.

Professor Balasingham Balachandran Conference Chair Professor of Finance, La Trobe University

Professor Balasingham Balachandran (La Trobe University)

Associate Professor Banita Bissoondoyal-Bheenick (RMIT

University)

Professor Christine Brown (Monash University)

Professor Ellie Chapple (Queensland University of Technology)

Associate Professor Huu Nhan Duong (Monash University)

Professor Nhut (Nick) Nguyen Hoang (Auckland University of

Technology)

Professor Janice How (Queensland University of Technology)

Professor Chandra Krishnamurti (University of South Australia)

Professor Hai Lin (Victoria University of Wellington)

Professor Paul Mather (La Trobe University)

Dr Sagarika Mishra (Deakin University)

Professor Tom Smith (Macquarie University)

Professor Alireza Tourani-Rad (Auckland University of Technology)

Professor Tony van Zijl (Victoria University of Wellington)

2……….11th FMCG Conference

FMCG Lifetime Outstanding Achievement Awards

Contribution to Excellent Research in Finance Lifetime Achievement Awards for contribution to excellent Research in Finance to Professor Tom Smith and Professor Peter Swan.

Professor Tom Smith

Professor Tom Smith is one of the leading finance academics in Australia who has made significant contributions to the field of finance, both in theoretical and empirical research over a long and distinguished career. He has been ranked as the number one finance academic in Australia and New Zealand by both the Journal of Financial Literature and the Pacific Basin Finance Journal. Accordingly, a Lifetime Achievement Award for contribution to Excellent Research in Finance will be presented to Professor Tom Smith at the 11th FMCG Conference on 9 April 2021. Tom’s research interest is in Environmental Finance, Asset Pricing Theory and Tests; Design of Markets – Market Microstructure; and Derivatives. Tom has supervised over 50 PhD students to completion and his PhD students have over 50 tier 1 papers in their own names. His articles have appeared in leading journals including the Journal of Financial Economics, Journal of Finance, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Journal of Business, Journal of Law and Economics, Journal of Accounting Research.

Professor Peter Swan AO

Professor Peter Swan AO FRSN FASSA is one of the leading finance academics in Australia who has made significant contributions to the field of finance, both in theoretical and empirical research over a long and distinguished career over more than 50 years. Professor Swan has been publishing for 52 years and is ranked in the top 1.5% in the world in terms of the number of pages published in highly cited journals. He was elected a Fellow of the Academy of Social Sciences in Australia in 1997 and gained recognition in the Queen’s Birthday Honours lists in 2003 and 2016 with the Order of Australia (AM) and (AO), respectively. In 2018 he was elected a Fellow of the Royal Society of New South Wales (FRSN). Accordingly, a Lifetime Achievement Award for contribution to Excellent Research in Finance will be presented to Professor Peter Swan at the 11th FMCG Conference on 9 April 2021.

He undertakes research into corporate finance, corporate governance including board structure, investments, hedge funds, stock market trading and design, M&A activity, and many other areas of finance and economics. He also served on the Editorial Board of The Economic Record for many years. He has published numerous articles in the top finance and economic journals, including Journal of Political Economy, The American Economic Review, Quarterly Journal of Economics, Journal of Finance, Review of Economic Studies, and many other top journals.


Contribution to Finance Academia in Australia Lifetime Achievement Awards for contribution to Finance Academia in Australia to Professor Robert Faff and Professor Terry Walter.

Emeritus Professor Robert Faff (UQ)

Professor Robert Faff is one of the leading finance academics who has made significant contribution to finance academia in Australia. He has secured 14 Australian Research Council grants (funding exceeding $4 million) and has published more than 340 refereed journal papers (40 of them in ABDC A* journals). Robert has supervised almost 50 PhD students to successful completion and examined more than 50 PhD dissertations. Accordingly, a Lifetime Achievement Award for contribution to Finance Academia in Australia will be presented to Professor Robert Faff at the 11th FMCG Conference on 9 April 2021.

Building on a 40-year academic career, his signature focus is “Pitching Research” (https://ssrn.com/abstract=2462059), with worldwide penetration signalled by: (a) > 17,300 SSRN downloads; (b) > 300 pitching talks/events; (c) at 37 Australian universities; and (d) spanning 54 different countries. In addition, Robert is Editor-in-Chief of Pacific-Basin Finance Journal; formerly: Editor of Accounting and Finance (2002-2011) and Associate Editor of several other leading journals including Abacus and Australian Journal of Management. Currently, Robert Faff is Professorial Fellow at Bond University and Emeritus Professor of Finance at the UQ Business School.

Professor Terry Walter

Professor Terry Walter is one of the leading finance academics who has made significant contribution to finance academia during his distinguished career over a 50-year period, by publishing 75 research papers and supervising 22 PhD students. Seven of his PhD students have subsequently been promoted to Professors in Australian universities, while others have had considerable success in industrial roles. He has received seven ARC discovery grants, one ARC infrastructure grant, two ARC collaborative grants, one cooperative research centre grant and two CIFR grants. Accordingly, a Lifetime Achievement Award for contribution to Finance Academia in Australia will be presented to Professor Terry Walter at the 11th FMCG Conference on 9 April 2021. He has published his research papers in leading journals including the Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Review of Accounting Studies, and Journal of Banking and Finance. He was appointed by the Minister for Industry and Innovation to the Fund Management Committee during 1993-1997, and to the Board of the Pooled Development Fund Registration Board between 1999 and 2005. He served on two Expert Panels for Economics and Business for ERA in 2014-2015 and 2017-2018. He was elected as a Fellow of the Academy of Social Sciences in Australia in 2019. For the last several years he been involved in “giving back” to the education system that gave him a rewarding and successful career through (i) supporting the career development of younger academics, (ii) providing supervision and guidance to doctoral students and (iii) supporting research through refereeing and mentoring guidance in various roles.

https://ssrn.com/abstract=2462059


Contribution to Accounting Academia in Australia Lifetime Achievement Award for contribution to Accounting Academia in Australia to Professor Stephen Taylor.

Professor Stephen Taylor

Professor Taylor has made a significant contribution to Accounting academia during his career, by publishing over 50 papers, supervising 20 PhD students, and contributing significantly to the accounting profession. He currently serves as a member of the Australian Accounting Standards Board. He is a Fellow of the Academy of Social Sciences in Australia. During 2016-17, Stephen served as the inaugural Australian Business Deans’ Council Research Scholar. Prior to this, Stephen also served as the Chair of the Business Academic Research Directors’ Network (BARDsNet). Stephen has been a member of the ERA panel for Economics and Business for the 2015 and 2018 assessments. He is currently the Deputy Chair and Chair of the Audit Committee for the Rozetta Institute, having previously served on the boards of both Capital Markets Co-Operative Research Centre and SIRCA, organizations from which Rozetta Institute was formed. Accordingly, a Lifetime Achievement Award for contribution to Accounting Academia in Australia will be presented to Professor Stephen Taylor at the 11th FMCG Conference on 9 April 2021.

His research interest is on firms’ reporting choices, as well as the role of auditors. Stephen has published his research papers in leading journals including Journal of Accounting and Economics, Contemporary Accounting Research, Journal of Financial and Quantitative Analysis, Review of Accounting studies, Journal of Banking & Finance, Journal of Corporate Finance and Journal of Accounting and Public Policy. He is currently a Co-Editor of the International Journal of Accounting and an Editor, International Journal of Accounting Research.

Stephen has led many ARC-funded research projects, as well as industry-focused research centres. He has served as an Expert Witness in Australia and overseas, and has been an advisor to a successful quantitative investment fund. He is currently UTS Distinguished Professor of Accounting.

Contribution to Accounting Academia in NZ Lifetime Achievement Award for contribution to Accounting Academia in New Zealand to Professor Tony van Zijl.

Professor Tony van Zijl

Professor Tony van Zijl has made a significant contribution to Accounting academia during his distinguished career, by publishing around 100 papers in academic and professional journals, supervising 25 PhD students, and contributing significantly to the accounting profession. His publications in academic journals include papers in Journal of Accounting Literature, Journal of Financial and Quantitative Analysis, and Management Accounting Research. Tony is a former Chair of the Financial Reporting Standards Board and was a foundation member of the Accounting Standards Review Board. He is currently a member of the External Reporting Advisory Panel to the External Reporting Board. He is a past member of the Valuation and Property Standards Board of the Property Institute of New Zealand. He has served on government working parties on securities law reform, capital charging for tertiary education institutions, and value-based reporting.

In 2004 he was awarded Life Membership of the Accounting and Finance Association of Australia and New Zealand (AFAANZ), in 2005 he received the AFAANZ Outstanding Contribution to Accounting & Finance Practice Award, in 2011 a Victoria University Research Excellence Award, in 2012 the NZICA (now CA ANZ) Outstanding Service to the Accountancy Profession Award, and in 2019 he was awarded Life Membership of CA ANZ. Accordingly, a Lifetime Achievement Award for contribution to Accounting Academia in New Zealand will be presented to Professor Tony van Zijl at the 11th FMCG Conference on 9 April 2021.

His research interests centre on information in capital markets and he provides consulting advice and litigation support on financial reporting and cost of capital. He has given expert evidence on these matters in High Court proceedings, Commerce Commission hearings, and arbitrations. He is a Lay Member of the High Court of New Zealand. Tony is an Honorary Consul for the People's Republic of Bangladesh. He is currently a Professor of Accounting & Financial Management and Director of the Centre for Accounting, Governance and Taxation Research, Victoria University of Wellington.


Plenary Speakers La Trobe Business School is fortunate to welcome six world renowned academics as our keynote speakers: Professors Reena Aggarwal, Jonathan M. Karpoff, Ron Masulis, Peter Swan, Tarun Chordia, and Tom Smith. We are also very pleased to have Ms Maria Wilton AM as our industry-focused keynote speaker.

Professor Reena Aggarwal

Professor Aggarwal specializes in global financial markets, capital raising, initial public offerings, initial coin offerings, FinTech, institutional investors, ETFs, private equity, valuation, stock exchange structure, securities market regulation, corporate governance and ESG. Her research is well-recognized for addressing global governance challenges and has received several awards including the BlackRock-National Association of Corporate Directors Award. She was honoured with the Allan N. Nash Distinguished Doctoral Graduate Award by University of Maryland, and the Distinguished Alumnus Award by BITS Pilani. She has served on the editorial boards of major journals. She regularly presents her work to government agencies and at academic conferences.

Dr. Aggarwal has previously held various positions including Vice Provost for Faculty for the six schools on Georgetown's Main Campus, Interim Dean and Deputy Dean of Georgetown's McDonough School of Business; Visiting Professor of Finance at MIT's Sloan School of Management; FINRA Academic Fellow; Academic Fellow at the U.S. SEC; Visiting Research Scholar at the IMF; Fulbright Scholar to Brazil; World Economic Forum Global Agenda Council on the Future of Financing and Capital; and a Distinguished Scholar at the Reserve Bank of India’s CAFRAL.

Dr. Aggarwal has consulted for governments, law firms, companies, and for organizations including the IMF, World Bank, UN, IFC, OPIC, IADB, and OECD. She has provided advice to financial institutions, stock exchanges, and securities commissions of several countries, including India, Mexico, Peru, Vietnam, Ecuador and United States. She received a Ph.D. in finance from the University of Maryland and M.M.S. from BITS.

Professor Tarun Chordia

Tarun Chordia joined the Goizueta Business School in the fall of 2000. Prior to joining Emory University in 2000, Professor Tarun Chordia received his PhD in finance from the Anderson School, UCLA, in 1993. He was an Assistant Professor of Finance at the Owen Graduate School of Management, Vanderbilt University from 1993. Tarun's research is grounded in both theory and empirical methods and spans a diverse area of financial economics. His teaching interests include securities and portfolios, financial institutions and fixed income markets. Prior to his doctoral studies, he worked for Citibank as a relationship and credit manager in the Financial Institutions Group.

He has received numerous awards for his research on empirical asset pricing and market microstructure. Professor Chordia has published extensively in the top finance journals, such as the Journal of Business, the Journal of Finance, the Journal of Financial Economics, the Journal of Financial Markets, the Journal of Financial and Quantitative Analysis and the Review of Financial Studies. He is currently the managing editor of the Journal of Financial Markets and a past associate editor of the Review of Financial Studies. He has been on the program committee for the American Finance Association, the European Finance Association, the NBER Market Microstructure group, the Stern Microstructure Conference, the Utah Winter Finance Conference and the Western Finance Association meetings, and is a referee for numerous journals.


Professor Jonathan M. Karpoff

Jonathan M. Karpoff is the Washington Mutual Endowed Chair in Innovation and Professor of Finance at the University of Washington’s Foster School of Business.

Jon’s research seeks to understand how and when Adam Smith’s Invisible Hand works, or does not work, to coordinate economic activities and promote social well-being. This research addresses a wide range of topics – from fisheries management to arctic exploration and business misconduct – and has received the Griliches Prize, Sharpe Award, and other awards that recognize impactful research. Jon’s work also is frequently cited in media outlets – including The New York Times, The Economist, The Wall Street Journal, National Public Radio, and podcasts, including The Secret History of the Future.

In teaching, Jon seeks to inspire an appreciation for the insights of economic and financial analysis in everyday life, and has delivered keynotes, seminars, and classes to audiences throughout North America and in more than a dozen other countries around the world. He is most excited, however, about teaching and learning from business executives. At the Foster School’s Executive MBA programs, Jon has received 11 Best Teacher Awards since 2010.

In 2015, Jon received the career award for outstanding research in corporate governance by the Drexel Center for Corporate Governance, and in 2016 he was inducted as a Financial Management Association Fellow. Jon also serves as Associate Editor for The Journal of Finance, Journal of Financial Economics, and Journal of Financial and Quantitative Analysis, and as an Advisory Editor for Financial Management. He previously served as Managing Editor of the JFQA and as President of The Financial Management Association International and is currently on the Steering Committee for the Financial Economists Roundtable.

Professor Ron Masulis

Ron’s expertise is in empirical corporate finance and corporate governance.

He publishes in M&A, boards of directors, executive compensation, ownership structure, business groups, private equity, investment banking, international finance and market microstructure.

Among financial economists worldwide, he has one of the highest sustained rates of top tier publications and citations. He is the 2018 Asia/Pacific Finance Cavalcade’s Chair, 2018 FMA Annual Program Vice President and has served on the AFA, WFA, FMA and FIRS boards of directors and the editorial boards of the top four finance journals. He is an ECGI research associate and an ABFER senior academic fellow.


Professor Tom Smith

Tom has a PhD from Stanford and is regarded as Australia’s top Finance Academic. His research interests are in the areas of Environmental Finance; Asset Pricing Theory and Tests; Design of Markets – Market Microstructure; and Derivatives. His articles have appeared in leading journals including the Journal of Financial Economics, Journal of Finance, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Journal of Business, Journal of Law and Economics, Journal of Accounting Research. Tom is particularly proud of all of his PhD students and the fact that they have more than 50 tier 1 publications.


Professor Peter Swan AO FRSN FASSA is currently in the School of Banking and Finance, Business School, University of New South Wales-Sydney.

UNSW appointed him to the title of Scientia Professor for the period, January 2003 - December 2008, in recognition of international eminence in research. Peter was elected as a Fellow of the Academy of Social Sciences in Australia in 1997. According to Mark Blaug's Who's Who in Economics: A Biographical Dictionary of Major Economists, 2nd ed., 3rd ed., 1999, he is in the top ten most highly cited economics and finance academics in Australia.

In December 2019 Peter published an article in The Economic Record which found that franking credits are fully priced and established that basically only foreigners are subject to corporate tax in Australia due to franking credit rebates. His research and evidence to the Senate Inquiry helped lobby Senate crossbenchers to successfully reject corporate tax cuts for large firms that would only have benefitted foreign shareholders without promoting additional investment. The sizeable tax losses that were prevented meant that personal taxes on Australians could be lowered rather than substantially raised.


Ms Maria Wilton AM

Maria Wilton is an experienced Non-Executive Director and finance executive with a thirty-year history in the investment and pension fund industry. She was CEO and Chair of Franklin Templeton Investments for 12 years and prior to that held various investment and business roles in global and domestic asset management companies including BT Financial Group (formerly Rothschild), County and JP Morgan.

Before joining the investment management industry, Maria worked for the Commonwealth Treasury in economic research. Maria is currently Vice Chair of the global Board of Governors of the CFA Institute, Deputy Chair of Infrastructure Victoria and a Director of Victorian Funds Management Corporation, Australia Post Super and the Dexus Wholesale Property Fund.

She holds a Bachelor of Economics from the University of Tasmania and is a Chartered Financial Analyst charter holder. In January 2019 she became a Member of the Order of Australia for service to business and finance and to the community.

Wednesday, 7 April

09:20 - 10:20 “Research Issues in Corporate Governance”

Professor Reena Aggarwal

McDonough School of Business, Georgetown University

10:30 - 11:30 “Corporate Purpose”

Prof. Jonathan M. Karpoff

Foster School of Business, University of Washington

11:45 - 12:45 “Does Changing Liability Protection Affect

Corporate Director Quality?”

Professor Ron Masulis UNSW School of Business

15:15 - 16:00

“Are “High-Powered" Incentives Confined to when the “Signal-to-Noise" Ratio is Weak?”


UNSW School of Business

Thursday, 8 April

09:30 - 10:30 “True Liquidity and Fundamental Prices: US

Tick Size Pilot”

Professor Tarun Chordia Goizueta Business School, Emory University

13:15 - 14:00

“Political connections and the transition to low-carbon sources in China: Evidence from a

quasi-natural experiment”

Professor Tom Smith Macquarie Business School and UQ Business School

Friday, 9 April

12:00 - 13:00

"Sustainability in Investment Management: Trends and Opportunities"

Ms Maria Wilton AM

Vice Chair of the Global Board of Governors of the CFA Institute; and Deputy Chair of Infrastructure Victoria

PLENARY TALKS


Special Academic Panel Session I – Endogeneity The 11th FMCG Conference presents a special academic plenary panel session on Endogeneity, moderated by Professor Robert Faff, with Professor Nadia Massoud, Associate Professor Lalitha Naveen, and Professor Tom Smith as discussants.

Professor Nadia Massoud

Nadia is Professor of Finance at Melbourne Business School, the University of Melbourne. Massoud earned her Ph.D. at Queen’s University (Ontario, Canada). and has extensively conducted researched in the areas of Financial Intermediation, Corporate Governance, Corporate Finance, and recently in Emerging Technology and Financial Market. She has published in major academic journals such as the Review of Financial Studies, Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Rand Journal of Economics, Journal of Business. Her research has won several prestigious awards including the JFE Fama/DFA Prize for Capital Markets and Asset Pricing.

Associate Professor Lalitha Naveen

Dr. Lalitha Naveen is Associate Professor of Finance at Temple University. Her primary research focus is in the areas of corporate board structure and executive compensation. Specifically, her research investigates the factors that determine the corporate governance mechanisms adopted by firms and how these mechanisms, in turn, affect firm policies and firm value. Her research papers have received several Best Paper Awards and have been published in top finance and accounting journals, including Review of Financial Studies, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, and Journal of Accounting and Economics. She has been interviewed by NPR Radio and Fox 29 TV on compensation issues and her research has been profiled in media outlets such as Wall Street Journal and USA Today. She has taught in undergraduate, full-time MBA, executive MBA, and doctoral programs and has received the MBA Outstanding Faculty of the Year Award, the Musser Award for Teaching Excellence, and the Temple University Lindback Distinguished Teaching Award in recognition of her teaching excellence.

Professor Tom Smith



Special Academic Panel Session II – Editors A second special academic plenary panel session with Editors will be moderated by Professor Terry Walter, with Professor Tarun Chordia, Professor Robert Faff, Professor Jonathan Karpoff and Professor Tom Smith as discussants.

Professor Tarun Chordia


Professor Jonathan M. Karpoff

Professor Tom Smith

Professor Terry Walter


Practitioner Panels The 11th Financial Markets and Corporate Governance Conference is pleased to present the topical contributions from leading industry and government representatives

Senator Andrew Bragg

Senator Bragg was elected to the Senate for New South Wales in 2019 and has served as a Member of the Liberal Party State Council (NSW) and as Acting Director of the Federal Liberal Party.

He has been a member of several Senate Select Committees (including the Financial Technology and Regulatory Technology Committee), and Senate Legislative and General-Purpose Committees.

He was previously employed at Ernst & Young, 2008, served as the Policy Manager at the Financial Services Council, the Director of Policy at the Financial Services Council, and as Executive Director of the Business Council of Australia. He holds MFinReg, MBus(Acc), and a BA(IntRel).

Ms Mary Delahunty

Mary is the Head of Impact for HESTA and has been with the fund since early 2013. She has held senior roles in financial services organisations for over 15 years and is passionate about progressing responsible investment practices and gender equality. HESTA is one of Australia’s largest superannuation funds with $57bn under management and over 850,000 members.

Mary is a 2015 Churchill Fellow, awarded for the completion of international research on equity for women in pension systems, a Chair of the Ministerial Advisory Council for Gender Equality in the State of Victoria, and sits on the Advisory Board for the McKell Institute. She is also a former Mayor and Councillor of the City of Glen Eira, a Board Member of The Emergency Services Telecommunication Authority and an advisory panel member for the State Government.

Previous roles include Chair of Reclink Australia, a National Not for Profit organisation offering sports and recreation opportunities to break the cycle for disadvantaged Australians. Mary holds a Master of Finance (Corporate Advisory) and is a Graduate of the Australian Institute of Company Directors.


Mr Mark Delaney

Mark Delaney was appointed Chief Investment Officer and Deputy CEO of AustralianSuper in July 2006 after the ARF and STA merger. Mark has the formidable responsibility of investing currently around $200 billion of member’s retirement savings. He has expanded AustralianSuper’s in-house investment management capabilities combining this with external advisers to continue to deliver top quartile investment returns.

Mark has over 20 years’ experience in financial markets. He was previously the CEO of STA and prior to that the Head of Investments at STA. Mark has also held senior positions with AXA and Federal Treasury.

He holds a Bachelor of Economics (Honours), is a Chartered Financial Analyst, and a Director of IFM Investor Advisory Board. In February 2021, he was appointed as Vice Chair of the Pacific Pension & Investment Institute.

Professor Allan Fels AO

Professorial Fellow, University of Melbourne; Foundation Chair of the Australian Competition and Consumer Commission (ACCC 1995-2003); and, Foundation Dean, ANZSOG

Professor Allan Fels AO graduated in economics (first class honours) and law from the University of Western Australia in 1965. He has a PhD in Economics from Duke University and was a research fellow in the Department of Applied Economics at the University of Cambridge from 1986-1972, where he wrote The British Prices and Incomes Board (Cambridge University Press, 1972).

On his return to Australia Professor Fels joined the Economics Department of Monash University as a Senior Lecturer, before becoming Professor of Administration and Director of the Graduate School of Management from 1984 until 1991.

The career of Professor Fels in Australia falls into two parts. He was generally regarded as the nation's leading regulator, serving as inaugural Chair of the Australian Competition and Consumer Commission (and its predecessor bodies) from 1989 until 2003. He has had numerous other regulatory roles (for example, in insurance, agriculture, telecommunications and aviation).


Mr Rob Fowler

Rob Fowler CFA is the former Chief Investment Officer of HESTA super fund. Rob retired from HESTA in 2019 and is currently Chair of the Professional Learning Committee of the CFA Society Melbourne, and holds a number of advisory and director roles. Prior to joining HESTA in 2004, Rob held various roles within the investment industry and in chartered accounting.

Ms Belinda Gibson

Commissioner/Deputy Chair, ASIC 2007-2013; and, Independent Company Director and corporate consultant. Ms Gibson has extensive experience in business strategy, financial transactions, risk oversight, corporate governance and cultural change management. She is currently a non-Executive Director at Brisbane Airport, Ausgrid and Citigroup Australia.

Interests include regulatory policy strategies for the financial industry and for infrastructure operators. She has a background as a corporate and securities lawyer and as the lead securities and markets regulator at ASIC.

Ms Gibson is a Fellow of the AICD and of the Governance Institute of Australia, and a member of Chief Executive Women.


Professor Pamela Hanrahan

Dr Pamela Hanrahan is a lawyer, legal academic and author who specialises in corporate law, corporate governance, financial services regulation, data governance and business ethics.

She is Professor of Commercial Law and Regulation at the University of New South Wales (UNSW) Business School, a Senior Fellow of the Melbourne Law School, a member of the Centre for Law Markets and Regulation at UNSW, an associate of the Centre for Corporate Law at the University of Melbourne, and founding director of the Cybersecurity and Data Governance Research Network at UNSW Sydney. She is also a founding member of the Society of Investment Law (USA), a Fellow of FINSIA, and a solicitor member of the Law Society of New South Wales.

Pamela is a member of the Executive Board of the Business Law Section of the Law Council of Australia, a member of the National Corporate Governance Committee of the Australian Institute of Company Directors, a member of the Conexus Institute Advisory Board and a non-executive director of Landcom. In 2010-11 she was the Queensland Regional Commissioner of the Australian Securities and Investments Commission (ASIC) and in 2013-15 served as the Registrar of Community Housing for New South Wales. In 2016-17 Pamela was an appointed member of the ASIC Enforcement Review Taskforce and in 2018 she was an adviser to the Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

Mr Stephen Jones MP

Stephen Jones is the Shadow Minister for Financial Services and Superannuation. He was first elected to the House of Representatives, for the seat of Throsby, in 2010. He is now, following an electoral redistribution, representative of the seat of Whitlam.

He has served as Shadow Parliamentary Secretary for Regional Development, Shadow Assistant Minister for Health, Shadow Minister for Regional Communications, and Shadow Minister for Regional Services, Territories and Local Government.

During his time in parliament, he has served on many committees, including the Joint Standing Committee for the National Broadband Network and standing committees for Economics and Tax and Revenue. He holds a BA and an LLB.


Dr Michael Kollo

Dr Michael G. Kollo is a business leader, practitioner, technical storyteller, writer, and speaker. Michael gained his PhD in Finance from the London School of Economics (LSE) in the UK, before embarking on a career in quantitative asset management, working at a suite of sophisticated institutional asset managers (Blackrock, Fidelity and Axa) where he led research teams and spoke globally on applying quantitative (data science) techniques in asset management, the limits and applications of machine learning, and the applications of alternative data for different investment problems. Michael moved back to Australia in 2017, joining HESTA ($50bn fund) to set the quantitative finance function.

Michael continued to engage with academic foundations and taught Quantitative Finance at the Imperial college for three years and fulfilling the Chief Examiner role at LSE for Corporate Finance. He is a published Author in the application of machine learning to investing, a contributor to WEF AI / Fintech panel, and a podcaster on the topic of the application of alternative data and AI/ML in Financial Services (‘Curious Quant’ podcast.

Michael joined Faethm.AI in 2020, a SaaS company focused on defining and measuring the impact of technology on the global workforce, and the automation impact on global industries, firms, and societies.

Michael enjoys good intellectual banter, philosophy, psychology, and mixed martial arts.

Dr Shann Turnbull

Dr Shann Turnbull is Principal of the International Institute for self-governance, and a founding Life Fellow of the Australian Institute of Company Directors (AICD). Shann Turnbull obtained an MBA from Harvard in 1963. Formerly a serial entrepreneur who founded several enterprises that included two public mutual funds and three firms that became publicly traded.

In 1970 he also became a founding joint CEO/owner of a public mutual fund management company. In 1971 he advocated education for company directors and in1973 his first academic paper “Time Limited Corporations” was published in ABACUS: A journal of accounting, finance and business studies. He is also author of 1975 book on “Democratising the wealth of nations" and the first economic analysis of Aboriginal Communities published as Parliamentary Papers 135 & 438 of 1978.

In 2001 he obtained a PhD from Macquarie University. He has organized several practitioners’ panel sessions for leading international conferences including International Finance and Banking Society conference in Oxford in 2015, and European Financial Management Conferences in 2016, 2017 and 2018. His panel sessions focused on governance of banks, future of digital currencies and stable financial systems, inviting leading scholars around the world.


Members of the Program Committee Professor Balasingham Balachandran (La Trobe University)

Professor Jonathan Batten (RMIT University)

Associate Professor Banita Bissoondoyal-Bheenick (RMIT University)

Professor Ellie Chapple (Queensland University of Technology)

Professor Phillip Dolan ( La Trobe University)

Associate Professor Huu Nhan Duong (Monash University)

Professor Aaron Gilbert (Auckland University of Technology)

Associate Professor Philip Gharghori (Monash University)

Professor Nhut (Nick) Nguyen Hoang (Auckland University of Technology)

Professor Janice How (Queensland University of Technology)

Dr Michael Keefe (Victoria University of Wellington)

Associate Professor Arifur Khan (Deakin University)

Professor Chandra Krishnamurti (University of South Australia)

Professor Hai Lin (Victoria University of Wellington)

Professor Paul Mather (La Trobe University)

Dr Sagarika Mishra (Deakin University)

Dr Lily Nguyen (University of Queensland)

Associate Professor Peter Pham (University of New South Wales)

Associate Professor Edward Podolski (Deakin University)

Professor Tom Smith (Macquarie University)

Professor Stephen Taylor (University of Technology, Sydney)

Dr Kannan Thuraisamy (Deakin University)

Associate Professor Thu Phuong Truong (Victoria University of Wellington)

Professor Terry Walter (University of Wollongong)

Professor Anne Wyatt (Deakin University)

Dr Fan Yu (Macquarie University)

Professor Tony van Zijl (Victoria University of Wellington)

Dr Angel Zhong (RMIT University)

Thursday, 8 April

14:30 - 16:00 “Australian Securities and Investments Commission (ASIC): Past, Present and

Future"

Moderator Professor Allan Fels AO

Professiorial Fellow, University of Melbourne; Foundation Chair of the Australian Competition and Consumer

Commission (ACCC 1995-2003); and, Foundation Dean, ANZSOG

Panel Members

Professor Pamela Hanrahan Professor of Commercial Law and Regulation, UNSW

Business School

Ms Belinda Gibson Commissioner/Deputy Chair, ASIC 2007-2013; d

Independent Company Director

Dr Shann Turnbull Founding Life Fellow, AICD

Senator Andrew Bragg

Chair of Australian Parliamentary Select Committee on Financial Technology and Regulatory Technology

Mr Stephen Jones MP

Shadow Minister for Financial Services

Friday, 9 April

13:45 – 15:15 “The future of superfund investing”

Moderator

Mr Rob Fowler CFA Society Melbourne

Ms Mary Delahunty Head of Impact, HESTA

Mr Mark Delaney

CFA, CIO, AustralianSuper

Dr Michael Kollo Chief Economist, Fæthm; and, Honorary Academic, ANU

PRACTITIONER PANELS


Members of the PhD Symposium Committee PhD Symposium Chair: A/Prof. Banita Bissoondoyal-Bheenick (RMIT University) Dr. Md Al Mamun (La Trobe University) A/Prof. Muhammad Ali (La Trobe University) Dr. Zhe (Andrew) An (Monash University) Dr. Nader Atawnah (Edith Cowan University) Dr. Shashank Bansal (Indian institute of Technology, Dhanbad) Prof. Jonathan Batten (RMIT University) Prof. Dirk Baur (University of Western Australia) Dr. Samuel Benjamin (Waikato University) Dr. Pallab Biswas (University of Otago) Dr. Praveen Bhagawan (Krea University) Prof. Ishaq Bhatti (La Trobe University) Dr. Reza Bradrania (University of South Australia) Prof. Ellie Chapple (Queensland University of Technology) Dr. Simon Cottrell (University of South Australia) A/Prof. Daisy Chou (RMIT University) Dr. Sandip Dhole (Monash University) Dr. Lien Duong (Curtin University) Dr. Jean-Pierre Fenech (Monash University) Dr. Adrian Fernandez (Auckland University of Technology) Dr. Li Ge (Monash University) A/Prof. Phil Gharghori (Monash University) Dr. Ning Gong (Deakin University Dr. Prasad Hegde (Auckland University of Technology) Prof. Darren Henry (La Trobe University) Prof. Janice How (Queensland University of Technology) Dr. Ivan Indriawan (Auckland University of Technology) Dr. Emdad Islam (Monash University) Dr. Michael Keefe (Victoria University of Wellington) A/Prof. Arifur Khan (Deakin University) Dr. Adrian Lee (Deakin University) Dr. Emma Li (Deakin University) A/Prof. Xiaoyang Li (Deakin University)

Dr. Shushu Liao (Auckland University of Technology) Prof. Hai Lin (Victoria University of Wellington) Dr. Mary Ma (La Trobe University) Prof. Paul Mather (La Trobe University) Dr Sagarika Mishra (Deakin University) Dr. Jyoti Prasad Mukhopadhyay (Krea University) Prof. Nhut (Nick) H. Nguyen (Auckland University of Technology) Dr. Wei Opie (Deakin University) Dr. Dinh Phan (La Trobe University) A/Prof. Edward Podolski (Deakin University) Dr. Tracy Qu (Queensland University of Technology) Dr. Lubna Rahman (Monash University) Dr. Syed Shams (University of Sothern Queensland)) A/Prof. Elvira Sojli (University of New South Wales) Prof. Jing Shi (Macquarie University) Dr. Eric Tan (University of Queensland) A/Prof. Kelvin J.K. Tan (University of Queensland) Dr Kannan Thuraisamy (Deakin University) Prof. Gary Tian (Macquarie University) Dr. Thao Tran (RMIT University) A/Prof. Thu Phuong Truong (Victoria University of Wellington) A/Prof. Peter Verhoeven (Queensland University of Technology) Prof. Roger Willet (Victoria University of Wellington) A/Prof. Barry Williams (Monash University) Dr. Vincent Xiang (Deakin University Dr Lei Xu (University of South Australia) Dr. Troy Yao (Queensland University of Technology) A/Prof. Jin Yu (Monash University) Dr. Yuyu Zhang (Queensland University of Technology) A/Prof. Jing Zhao (La Trobe University) Dr. Gaoping Zheng (RMIT University) Dr. Angel Zhong (RMIT University)


Selection Committee: Conference Best Paper Awards

Selection Committee: PhD Symposium Awards

Category A: Accounting Information/ Disclosure Practices/Earnings Quality/Audit Fees Associate Professor Arifur Khan (Deakin University) Professor Stephen Taylor (University of Technology, Sydney) Category B: Asset Pricing/Financial Markets/Market Microstructure/Funds Management Professor Hai Lin (Victoria University of Wellington) Professor Tom Smith (Macquarie University) Category C: Banking/Behavioural Finance/Corporate Finance/Financial Economics Associate Professor Huu Nhan Duong (Monash University) Professor Terry Walter (University of Wollongong) Category D: Governance/ Corporate Culture/Social Responsibility Dr Lily Nguyen (University of Queensland) Associate Professor Peter Pham (University of New South Wales) Category E: Emerging Markets Professor Chandra Krishnamurti (University of South Australia) Professor Paul Mather (La Trobe University)

Category A: Accounting Information/ Disclosure Practices/Earnings Quality/Audit Fees Professor Paul Mather (La Trobe University) Associate Professor Arifur Khan (Deakin University) Category B: Asset Pricing/Financial Markets/Market Microstructure/Funds Management Professor Hai Lin (Victoria University of Wellington) Associate Professor Philip Gharghori (Monash University) Category C: Banking/Behavioural Finance/Corporate Finance/Financial Economics Associate Professor Huu Nhan Duong (Monash University) Associate Professor Edward Podolski (Deakin University) Category D: Governance/ Corporate Culture/Social Responsibility Dr Sagarika Mishra (Deakin University) Professor Jonathan Batten (RMIT University) Category E: Emerging Markets Professor Chandra Krishnamurti (University of South Australia) Associate Professor Banita Bissoondoyal-Bheenick (RMIT University)


Conference Program Day One: 7 April

WEDNESDAY, 7 APRIL, 09:00 – 18:15 AEST

Welcome Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021 09:00 - 09:15 Welcome Address and Opening of the Conference

Professor John Dewar AO, Vice-Chancellor and President, La Trobe University Session Chair: Professor Bala Balachandran, La Trobe Business School

5 min break

Plenary Talk I Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021 09:20 – 10:20 Plenary Talk: “Research Issues in Corporate Governance”

Professor Reena Aggarwal, McDonough School of Business, Georgetown University

Moderator: Associate Professor Elvira Sojli, University of New South Wales

10 min break

Plenary Talk II Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021 10:30 – 11:30 Plenary Talk: “Corporate Purpose”

Professor Jonathan M. Karpoff, Foster School of Business, University of Washington

Moderator: Associate Professor Banita Bissoondoyal-Bheenick, RMIT University

15 min break

Plenary Talk III Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021 11:45 – 12:45 Plenary Talk: “Does Changing Liability Protection Affect Corporate Director

Quality?” Professor Ron Masulis, UNSW School of Business, University of New South Wales

Moderator: Dr Sagarika Mishra, Deakin University

LUNCH BREAK

13:30 - 15:00 Conference Concurrent Sessions

1.1 Boards and Monitoring [I] Host: Queensland University of Technology / Session Chair: Katherine Ulangco

https://latrobe.zoom.us/j/88396648452





ZOOM LINK: https://qut.zoom.us/j/8724929060

13:30 “Director Turnover, Board Monitoring and Audit Fees: Australian evidence” Ferdinand Gul*, Sutharson Kanapathippillai*, Soheila Mirshekary, Heibatollah Sami**, and Ali Yaftian* *Deakin University, **Lehigh University Presenter: Ali Yaftian

Discussant: Thao Hoang

14:00 “Polarized Corporate Boards” Thao Hoang*, Phong T. H. Ngo*, Le Zhang * *Australian National University Presenter: Thao Hoang

Discussant: Felix Zhiyu Feng

14:30 “Looking the Other Way: The Screening Role of (Weak) Internal Monitoring” Felix Zhiyu Feng*, Wenyu Wang** and Yufeng Wu*** *University of Washington, **Indiana University, ***University of Illinois Urbana-Champaign Presenter: Felix Zhiyu Feng

Discussant: Ali Yaftian

1.2 Culture Host: Deakin University / Session Chair: Sutha Kanapathippillai

ZOOM LINK: https://deakin.zoom.us/j/86036212939

13:30 “Role of national culture on the access to equity finance for small firms” Harshali Damle*, Ashok Thampy* *Indian Institute of Management Presenter: Harshali Damle

Discussant: Sivathaasan Nadarajah

14:00 “The effect of cultural differences on cash holdings of multinational businesses” Jacky Yuk-chow So* and John Fan Zhang* *Macau University of Science and Technology Presenter: John Fan Zhang

Discussant: Harshali Damle

14:30 “Innovative Corporate Culture and Credit Ratings” Balasingham Balachandran*, Sagarika Mishra**, Sivathaasan Nadarajah***, Kannan Thuraisamy**, Yun Zhou* *La Trobe University, **Deakin University, ***Griffith University Presenter: Sivathaasan Nadarajah

Discussant: John Fan Zhang

1.3 Accounting [I] Host: Victoria University of Wellington / Session Chair: Thu Phuong Truong

Zoom Link: https://vuw.zoom.us/j/99313533702?pwd=Ty9rR1F5VDlaSUJ6dTdya3huZFpMZz09 Password: fmcg2021

13:30 “Does Audit Committee Moderate The Impact Of Related Party Transactions On Firm Value?: Evidence From BRICS” Aghila Sasidharan*, M. Thenmozhi**, Chinmoy Ghosh*** * O.P Jindal Global University, ** Indian Institute of Technology Madras, *** University of Connecticut Presenter: Aghila Sasidharan

Discussant: Gurbinder Singh

14:00 “IFRS Experience and Earnings Quality in the GCC Region” Nasser A. Nasser*, Reza M. Monem*, Shamsun Nahar* *Griffith University Presenter: Reza M. Monem

Discussant: Aghila Sasidharan

14:30 “Voluntary Disclosure and Cost of Capital of Listed Indian Private and Public Sector Banks” Dr. Poonam Mahajan* and Gurbinder Singh* * Guru Nanak Dev University Presenter: Gurbinder Singh

Discussant: Reza M. Monem

1.4 Corporate Social Responsibility [I] Host: Macquarie University / Session Chair: Abhay Singh Zoom Link: https://macquarie.zoom.us/s/88616659651

13:30 “Does Mandatory Expenditure on CSR Affect Firm Value? Empirical Evidence from Indian Firms”

Discussant: Xin Wang

https://qut.zoom.us/j/8724929060

https://deakin.zoom.us/j/86036212939

https://vuw.zoom.us/j/99313533702?pwd=Ty9rR1F5VDlaSUJ6dTdya3huZFpMZz09

https://macquarie.zoom.us/s/88616659651


Praveen Bhagawan*, Jyoti Prasad Mukhopadhyay* *Krea University Presenter: Praveen Bhagawan M

14:00 “The Influence of Corporate Environmental, Social and Governance Practices (ESG) on Financial Performance: Evidence from India” Kavitha Shanmugam* & Suganthi* * SRM Institute of Science and Technology Presenter: Kavitha Shanmugam

Discussant: Jyoti Prasad Mukhopadhyay

14:30 “Tax aggressiveness and CSR incentives: International evidence” Yuan G. Shan*, Xin Wang**, Joey W. Wang * * University of Western Australia, ** Renmin University of China Presenter: Xin Wang

Discussant: Praveen Bhagawan

1.5 Emerging Markets [I] Host: La Trobe University / Session Chair: Md Safiullah

Zoom Link: https://latrobe.zoom.us/j/87096883458

13:30 “She innovates- Female ownership and innovation in India” Shreya Biswas*, Shreya Lahiri* *Birla Institute of Technology and Science Presenter: Shreya Biswas

Discussant: Suja Sekhar C

14:00 “Effect of founder family’s management control and ownership on R&D activities” Surender Rao Komera*, Subash Sasidharan**, Jijo Lukose P. J*** * Indian Institute of Management Amritsar, ** Indian Institute of Technology Madras, *** Indian Institute of Management Kozhikode Presenter: Surender Rao Komera

Discussant: Shreya Biswas

14:30 “Insider Ownership and Choice of Equity Selling mechanisms - Evidence from India” Suja Sekhar C*, Jijo Lukose P. J * * Indian Institute of Management Presenter: Suja Sekhar C

Discussant: Surender Rao Komera

1.6 Tax and Auditing Host: Queensland University of Technology / Session Chair: Xiaoyin Wei

Zoom Link: https://qut.zoom.us/j/85254328698?pwd=Q0V5bHp2VU1hN05Hd2NWZkZCajdWZz09&from=addon Password: fmcg2021

13:30 “Does MAT is effective in reducing tax avoidance? Differential impact on Business groups” A Athira*, PJ Jijo Lukose* *Indian Institute of Management Kozhikode Presenter: A Athira

Discussant: Jie Gao

14:00 “Customer and tax avoidance: How does customer geographic proximity affect a supplier’s tax avoidance?” Feng Huang* and Jie Gao** *Jinan university, **University of Western Sydney Presenter: Jie Gao

Discussant: A Athira

1.7 Emerging Markets [II] Host: University of South Australia / Session Chair: Kartick Gupta

Zoom Link:https://unisa.zoom.us/j/85724520998?pwd=NlBPeHNTWmJVbFN6YWl1enNSYk1EZz09

13:30 “Does Market Competition foster Related Party Transactions? Evidence from Emerging Market” Shashank Bansal*, Harminder Singh** * Indian Institute of Technology (ISM) Dhanbad, **Deakin University Presenter: Shashank Bansal

Discussant: Ping-Chieh Tsai

14:00 “Overnight Returns and Investor Sentiment: Further Evidence from Various Trader Types on the Taiwan Stock Market” Hang Zhang*, Ping-Chieh Tsai**, Wei-Che Tsai**, Pei-Shih Weng** *Jimei University, **National Sun Yat-sen University Presenter: Ping-Chieh Tsai

Discussant: Shashank Bansal


https://qut.zoom.us/j/85254328698?pwd=Q0V5bHp2VU1hN05Hd2NWZkZCajdWZz09&from=addon

https://unisa.zoom.us/j/85724520998?pwd=NlBPeHNTWmJVbFN6YWl1enNSYk1EZz09


14:30 “Corporate Governance: Compliance Perspective - Evidence from Sri Lanka” Uggalla Arachchige Hashika Aroshini Rathnasiria,b, De Silva, T-Aa, Suleman, M.Tc, Nilipour Aa aLincoln University, bUniversity of Kelaniya, cUniversity of Otago

Discussant: N/A

1.8 Corporate Governance [I] Host: Macquarie University / Session Chair: Jing Shi

Zoom Link: https://macquarie.zoom.us/j/5438788174

13:30 “Does Foreign Institutional Ownership Affect Investment Efficiency? Evidence from Around the World” Muhammad Ilyas*, Rehman Uddin Mian * *National University of Sciences and Technology Islamabad Presenter: Muhammad Ilyas

Discussant: Xiaohua Wu

14:00 “The Effect of Government Ownership on Bank Earnings Management through Bank Loan loss Provisioning: Evidence from China” Millicent Chang*, Nengqi Pan*, Xiaofei Pan*, *University of Wollongong, Presenter: Xiaofei Pan

Discussant: Muhammad Ilyas

14:30 “Relative Peer Quality and The Readability of 10-K Reports” Xiaohua Wu*, Yuyu Zhang*, Elsabeth Sinnewe * *Queensland University of Technology Presenter: Xiaohua Wu

Discussant: Xiaofei Pan

1.9 Emerging Markets [III] Host: University of South Australia / Session Chair: Hao Zhou

Zoom Link: https://unisa.zoom.us/j/88438043263?pwd=anNWcGc3K2Rkdi8vQ2ZQZitQM2k0QT09

13:30 “Analyst Stock recommendations - Journalists vs Brokerage Houses: Evidence from a Large Emerging Market” Jayadev M*, S Chetak * * Indian Institute of Management Bangalore Presenter: Jayadev M

Discussant: Ravleen Kaur

14:00 “Deregulation of Short Selling and Corporate Cash Dividend Policy: A Quasi natural Experiment from China” Xingquan Yang*, Zheng Yang*, and Xiaoyi Ren * *Shihezi University School of Economics and Management ** Chongqing University School of Economics and Business Administration Presenter: Zheng Yang

Discussant: Jayadev M

14:30 “A New Model of Rating to Evaluate Startups in Emerging Indian Market” Poonam Mahajan*, Ravleen Kaur** * Guru Nanak Dev University College ** University School of Financial Studies Presenter: Ravleen Kaur

Discussant: Zheng Yang

1.10 Innovation [I] Host: Victoria University of Wellington / Session Chair: Hai Lin

Zoom link: https://vuw.zoom.us/j/98864275965

13:30 “Near Is More: Learning Efficiency of R&D Innovation among Interlocking Firms” Yu-En Lin*, Jia-Qi Yu*, Hsiang-Hsuan Chih, Kung-Cheng Ho* *Jilin University, **National Dong Hwa University, ***Zhongnan University of Economics and Law Presenter: Jia-Qi Yu

Discussant: Kelvin Jui Keng Tan

14:00 “Corporate Transparency and Firm Innovation: Pressure Effect vs. Incentive Effect” William Mbanyele* *Center for Economic Research Presenter: William Mbanyele

Discussant: Jia-Qi Yu

14:30 “Syncing Innovation to Avoid Sinking: Supplier Response to Customer Covenant Violations”

Discussant: William Mbanyele

https://macquarie.zoom.us/j/5438788174

https://unisa.zoom.us/j/88438043263?pwd=anNWcGc3K2Rkdi8vQ2ZQZitQM2k0QT09

https://vuw.zoom.us/j/98864275965


Srinivasan Selvam*, Kelvin Jui Keng Tan** *Peking University, **The University of Queensland Presenter: Kelvin Jui Keng Tan

1.11 Auditing and Disclosure Host: La Trobe University / Session Chair: Kamran Ahmed


13:30 “Audit Pricing and Corporate Whistleblower Performance: Evidence from Australian Financial Firms” Baban Eulaiwi*, Ahmed Al-Haidi*, Lien Duong*, Keira Clark**, Grantley Taylor*, Brian Perrin* *Curtin University, ** BDO Perth Presenter: Baban Eulaiwi

Discussant: Trinh Hue Le

14:00 “Institutional Ownership and Audit Quality: Evidence from China” Muhammad Jahangir Ali*, Pallab Kumar Biswas**, Larelle (Ellie) Chapple***, Sriyalatha Kumarasinghe** *La Trobe University, **University of Otago, ***Queensland University of Technology Presenter: Muhammad Jahangir Ali

Discussant: Baban Eulaiwi

14:30 “Nowhere to Hide: Corporate Restructuring Activities’ Response to Mandatory Segment Disclosure” Trinh Hue Le*, Kelvin Jui Keng Tan*, Barry Oliver* *University of Queensland Presenter: Trinh Hue Le

Discussant: Muhammad Jahangir Ali

1.12 Governance [II] Host: Deakin University / Session Chair: Saikat Sovan Deb

Zoom Link: https://deakin.zoom.us/j/84568093361

13:30 “The Business Strategy: CFO's Risk Preference and Financial Fraud” Yu-En Lin*, Qianqian Wang* *Jilin University Presenter: Qianqian Wang

Discussant: Gimhani Ekanayake

14:00 “Board Gender Diversity, Ethical Leadership and COVID-19 Corporate Response to Employee welfare” Pallab Kumar Biswas*, Dinithi Ranasinghe* * University of Otago Presenter: Dinithi Ranasinghe

Discussant: Qianqian Wang

14:30 “Efficient debt contracting: An interplay between corporate governance quality, growth opportunities and cost of debt” Gimhani Ekanayake*, Arifur Khan*, Paul Mather**, George Tanewski * *Deakin University, **La Trobe University Presenter: Gimhani Ekanayake

Discussant: Dinithi Ranasinghe

1.13 Emerging Markets [IV] Host: RMIT University / Session Chair: Jonathan Batten

Link: CLICK HERE

13:30 “Managerial Labor Market Competition and Agency Problems: Evidence from a Nature Experiment” Xuefeng Rong*, Gaoping Zheng** *Southwestern University, **RMIT University Presenter: Gaoping Zheng

Discussant: Ivy Zeyang Zhou

14:00 “Controlling Shareholder Expropriation and Labor Investment Efficiency” Xiaoran Ni* *Xiamen University Presenter: Xiaoran Ni

Discussant: Gaoping Zheng

14:30 “Foreign Investment and Commonality in Liquidity: Evidence from a Natural Experiment” Vito Mollica*, Weijie Tian**, Ivy Zeyang Zhou***

Discussant: Xiaoran Ni



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*Macquarie University, **Shanghai Future Exchange, ***University of Wollongong Presenter: Ivy Zeyang Zhou

1.14 Mergers and Acquisitions [I] Host: Auckland University of Technology / Session Chair: Adrian Fernandez

Link: CLICK HERE 13:30 “Reserve price, or bargaining chip? An analysis of how Independent Expert

Reports impact Australian M&A deal outcomes” Nick Turner* *UNSW Presenter: Nick Turner

Discussant: Chang Yu

14:00 “Disciplinary Effect of Short Selling: Evidence from Mergers and Acquisitions” Hai Lin*, Chang Yu * * Victoria University of Wellington Presenter: Chang Yu

Discussant: Nick Turner

14:30 “Do Continuous Disclosures Affect the Market Reaction to Acquisition Announcements? Evidence from Australian M&A Deals” Syed Shams*, Sudipta Bose**, Eswaran Velayutham*, Abeyratna Gunasekarage*** *University of Southern Queensland, **University of Newcastle, ***Monash University Presenter: Syed Shams

Discussant: N/A

1.15 Asset Pricing [I] Host: RMIT University / Session Chair: Larry Li

LINK: CLICK HERE

13:30 “Tuesday Blues and the day-of-the-week effect in stock” Mardy Chiah*, Angel Zhong** *Swinburne University of Technology, **RMIT University Presenter: Mardy Chiah

Discussant: Phong Minh Nguyen

14:00 “May I Have Your Attention? Investor Behavior and Climate Change” Antoine A. J. Girardeau*, Robert B. Durand*, Priyantha Mudalige* *Curtin University Presenter: Antoine A. J. Girardeau

Discussant: Mardy Chiah

14:30 “Portfolio Management using Time-Varying Vine Copula: An Application on G7 Equity Market Indices” Wei-Han Liu*, Phong Minh Nguyen** *Southern University of Science and Technology, **Federation University Australia Presenter: Phong Minh Nguyen

Discussant: Antoine A. J. Girardeau

1.16 Asset Pricing [II] Host: Auckland University of Technology / Session Chair: Ihsan Badshah

LINK: CLICK HERE

13:30 “One Session Options: Playing the announcement lottery?” Lee Smales*, Z. F. Liu*, C. D. Robertson* *University of Western Australia Presenter: Lee Smales

Discussant: Tze Chuan ‘Chewie’ Ang

14:00 “Health or wealth? New Zealand response to the Covid-19 pandemic and stock market performance” Olga Dodd*, Shushu Liao* *Auckland University of Technology Presenter: Shushu Liao

Discussant: Lee Smales

14:30 “Equity Financing, Equity Lending, and Price Pressure: The Case of DRIP Arbitrage” Tze Chuan ‘Chewie’ Ang*, Xin ‘Simba’ Chang**, Xiaoxiong Hu**, Patrick Verwijmeren***

Discussant: Olga Dodd

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*Deakin University, **Nanyang Technological University, ***Erasmus University Rotterdam Postbus Presenter: Tze Chuan ‘Chewie’ Ang

1.17 Asset Pricing [III] Host: Monash University / Session Chair: Li Ge

Zoom Link: https://monash.zoom.us/j/88921332448?pwd=cDB1dUZ0bDNrZlYwTFJTMmtIM0Zmdz09

13:30 “IPO Under-pricing Classification Using Machine Learning Techniques” Yan Chen*, D Dulani Jayasuriya*, John Lee * * University of Auckland Presenter: D Dulani Jayasuriya

Discussant: Lai T. Hoang

14:00 “The beta anomaly and lottery demand in the Australian stock market” Reza Bradrania*, Jose Francisco Veron * * University of South Australia Presenter: Jose Francisco Veron

Discussant: D Dulani Jayasuriya

14:30 “The Importance of Spillovers” Lai T. Hoang and Dirk G. Baur * * University of Western Australia Presenter: Lai T. Hoang

Discussant: Jose Francisco Veron

1.18 Asset Pricing [IV] Host: Monash University / Session Chair: Idan Hodor

Zoom Link: https://monash.zoom.us/j/81275743692?pwd=aFhxVGpvYkgzbTlOd1RTdi9wY2psUT09

13:30 “Strategic trading by insider in reaction to institutions: a rat-race effect” Lai T. Hoang*, Marvin Wee**, Joey Wenling Yang* *University of Western Australia, **The Australian National University Presenter: Joey Wenling Yang

Discussant: Van Dang

14:00 “Long Live Hermes! Mercury Retrograde and Equity Prices” Yanling Qi*, Hang Wang**, and Bohui Zhang*** *California State University, Long Beach, ** University of New South Wales, ***City University of Hong Kong, Shenzhen Presenter: Hang Wang

Discussant: Joey Wenling Yang

14:30 “Discretion over Regulation: The Effectiveness of a Post-trade Transparency Regime” Van Dang*, Riccardo De Blasis**, Vito Mollica*** *University of South Australia, ** Universita’ Politecnica delle Marche, ***Macquarie University Presenter: Van Dang

Discussant: Hang Wang

1.19 Capital Structure and Financing Host: La Trobe University / Session Chair: Thu Dung Nguyen

Zoom Link: https://latrobe.zoom.us/j/82160969475 13:30 “The dark side of analyst coverage: The case of corporate leverage

adjustments” Sijia Luo*, Yan Gu**, Kung-Cheng Ho*** * Nanyang Technological University, ** Fudan University, *** Guangdong University of Finance & Economics Presenter: Sijia Luo

Discussant: Michael O’Connor Keefe

14:00 “Financing a Corporate Venture Capital Program” Bernard Tawiah, Michael O’Connor Keefe * * Victoria University of Wellington Presenter: Michael O’Connor Keefe

Discussant: Sijia Luo

15 min break

https://monash.zoom.us/j/88921332448?pwd=cDB1dUZ0bDNrZlYwTFJTMmtIM0Zmdz09

https://monash.zoom.us/j/81275743692?pwd=aFhxVGpvYkgzbTlOd1RTdi9wY2psUT09



Plenary Talk IV Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021 15:15 – 16:00 Plenary Talk: “Are “High-Powered" Incentives Confined to when the “Signal-to-

Noise" Ratio is Weak?” Professor Peter Swan, UNSW School of Business, University of New South Wales

Moderator: Associate Professor Huu Duong, Monash University

15 min break


2.1 Boards and Monitoring [II] Host: RMIT University / Session Chair: Daniel Chai

LINK CLICK HERE

16:15 “Independent Directors and Investment Efficiency: Evidence from Chinese Listed Central Enterprises” Xin Geng*, Hsin-I Chou** and Jing Zhao*** * University of Bath, **RMIT University, ***La Trobe University Presenter: Xin Geng

Discussant: Samridhi Suman

16:45 “Board gender diversity and dividend payout decisions: empirical evidence from India” Samridhi Suman *, Shveta Singh* * IIT Delhi Presenter: Samridhi Suman

Discussant: Xin Geng

17:15 “Boardroom Racial (In)Equality and Stock Returns: Evidence from the Black Lives Matter Protests” Maksims Dzabarovs*, Romans Madesovs*, and Anete Pajuste* *Stockholm School of Economics in Riga Presenter: Anete Pajuste

Discussant: Shreya Biswas

17:45 “Bank Board Network and Financial Stability in Emerging Markets” Shreya Biswas*, Rajnish Kumar** * Birla Institute of Technology and Science, **Independent researcher Presenter: Shreya Biswas

Discussant: Anete Pajuste

2.2 Governance [III] Host: Queensland University of Technology / Session Chair: John Chen

Zoom Link: https://qut.zoom.us/j/5754466490

16:15 “Does it pay to study abroad? Evidence from the CEO-innovation nexus” Stylianos Asimakopoulos* * University of Bath Presenter: Stylianos Asimakopoulos

Discussant: Zixun Zhou

16:45 “Careful for Characteristics: CEO Trait and Firm Risk” Wenxin Wu*, Xuezhi Zhang**, Zixun Zhou*, Jiahao Zhu** *Peking University, **Sun Yat-Sen University Presenter: Zixun Zhou

Discussant: Stylianos Asimakopoulos

17:15 “Does founder ownership impact value relevance of IFRS convergence? Evidence from India” R.Shruti*, M.Thenmozhi** * Thiagarajar School of Management, ** Indian Institute of Technology Madras Presenter: R.Shruti

Discussant: Jesus Gorrin

17:45 Shareholder activism and gender bias Jana P. Fidrmuc*, Jesus Gorrin*, Jiaqi Zhao* * University of Warwick

Discussant: R.Shruti


https://aus01.safelinks.protection.outlook.com/ap/t-59584e83/?url=https%3A%2F%2Fteams.microsoft.com%2Fl%2Fmeetup-join%2F19%253ameeting_NjE5OTgxMTItYzQ4YS00MmQzLWJjN2ItZDE3MzAyNjRkYThl%2540thread.v2%2F0%3Fcontext%3D%257b%2522Tid%2522%253a%2522d1323671-cdbe-4417-b4d4-bdb24b51316b%2522%252c%2522Oid%2522%253a%25220947202e-cb7d-4977-89e4-9105a49b220a%2522%257d&data=04%7C01%7Cangel.zhong%40rmit.edu.au%7Ca6e49b7fa5c84109472608d8f0002a67%7Cd1323671cdbe4417b4d4bdb24b51316b%7C0%7C0%7C63752323084594006



Presenter: Jesus Gorrin

2.3 Corporate Social Responsibility [II] Host: Queensland University of Technology / Session Chair: Sohanur Rahman

Zoom Link: https://qut.zoom.us/j/87850972868?pwd=SWpnck0rRXI1eWZCd3huVnMydHJlQT09&from=addon Password: fmcg2021

16:15 “Antecedents of Adopting Strategic Corporate Social Responsibility” Jing (Claire) Li *, Abdelhafid Benamraoui*, Sudha Mathew*, and Neeta Shah* * University of Westminster Presenter: Jing (Claire) Li

Discussant: Supriya Katti

16:45 “CSR Contribution under Mandatory Regulations: Evidence from Indian Business Groups” Shantanu Dutta*, Supriya Katti**, B. V. Phani**, Pengcheng Zhu*** * University of Ottawa, ** Indian Institute of Technology (IIT) Kanpur, *** University of San Diego Presenter: Supriya Katti

Discussant: Jing (Claire) Li

17:15 “Does media coverage of firms’ environment, social, and governance (ESG) incidents affect analyst coverage and forecasts?” Guanming He*, April Zhichao Li * * Durham University Presenter: April Zhichao Li

Discussant: Yong Kyu Gam

17:45 “ESG Risk, Climate Change, and Bank Liquidity” Daewoung Choi*, Yong Kyu Gam**, and Hojong Shin*** *Louisiana State University Shreveport, **Institute of Financial Studies, Southwestern University of Finance and Economics, ***California State University Presenter: Yong Kyu Gam

Discussant: April Zhichao Li

2.4 Earnings Management Host: La Trobe University / Session Chair: Paul Mather


16:15 “Standing in the Limelight: Sophisticated Active Attention and Managerial Bad News Hoarding” Tao Chen*, Jimmy Chengyuan Qu* * Nanyang Technological University Presenter: Jimmy Chengyuan Qu

Discussant: Jennifer Atkins

16:45 “The Impact of Deferred Taxes on Earnings Management: The Moderating Effect of National Culture” Jennifer Atkins*, Paul Mather* and Balachandran Muniandy* *La Trobe University Presenter: Jennifer Atkins

Discussant: Jimmy Chengyuan Qu

17:15 “Does real earnings management adversely affect analyst coverage and forecasts?” Guanming Hea*, Zhichao Lia*, Richard Slack*, *Durham University Presenter: Zhichao Lia

Discussant: Priyesh V Purayil

17:45 “Earnings quality among Private firms in India” Priyesh V Purayil*, Jijo Lukose P.J** *O P Jindal Global University, ** Indian Institute of Management Kozhikode Presenter: Priyesh V Purayil

Discussant: Zhichao Lia

2.5 Accounting [II] Host: Victoria University of Wellington / Session Chair: Thu Phuong Truong

Zoom Link: https://vuw.zoom.us/j/97566087595?pwd=dWlUS1RkdkVtd3RMaW1KSFpnMEkydz09 Password: fmcg2021

16:15 “Passive Ownership and Accounting Conservatism” I Go*, Kazuo Yamada * *Ritsumeikan University Presenter: Kazuo Yamada

Discussant: Helen Ren

16:45 “Derivative Disclosures and Managerial Opportunism” Guanming He*, Helen Ren**

Discussant: Kazuo Yamada

https://qut.zoom.us/j/87850972868?pwd=SWpnck0rRXI1eWZCd3huVnMydHJlQT09&from=addon


https://vuw.zoom.us/j/97566087595?pwd=dWlUS1RkdkVtd3RMaW1KSFpnMEkydz09


* Durham University, ** University of Liverpool Presenter: Helen Ren

17:15 “Financial statement comparability and top executives’promotion: Evidence from State-owned enterprises in China” Aiping Zhang*, Wen Li*, Yiming Hu* * Shanghai Jiao Tong University Presenter: Aiping Zhang

Discussant: Ra-Pee Pattanapanyasat

17:45 “Market reactions to timing and information of mandatory disclosures” Prapaporn Kiattikulwattana*, Ra-Pee Pattanapanyasat * *Chulalongkorn University Presenter: Ra-Pee Pattanapanyasat

Discussant: Aiping Zhang

2.6 Corporate Finance and Governance [I] Host: Deakin University / Session Chair: Tze Ang


16:15 “The Value of Corporate Cash Holdings During the Covid-19 Pandemic” Jan Pieter Veerhoek*, Marc Deloof* *University of Antwerp Presenter: Jan Pieter Veerhoek

Discussant: Sagarika Mishra

16:45 “Corporate Culture and Cash Holding” Balasingham Balachandran*, Shaheen Jahan*, Sagarika Mishra**, Prem Puwanenthiren***, Yun Zhou*** *La Trobe University, **Deakin University, ***University of Westminster Presenter: Sagarika Mishra

Discussant: Jan Pieter Veerhoek

17:15 “Managerial Ownership and Firm Value: Evidence from Japan” Toshiaki Yamanaka* * Formerly with the University of Tokyo Presenter: Toshiaki Yamanaka

Discussant: Lau Shu Chui

17:45 “Remuneration Committee on excess CEO compensation” Lau Shu Chui*, Elaine Yen-Nee Oon*, Karren Lee-Hwei Khaw* *University of Malaya Presenter: Lau Shu Chui

Discussant: Toshiaki Yamanaka

2.7 Stock Price Crash Risk Host: Monash University / Session Chair: Zhe An

Zoom Link: https://monash.zoom.us/j/88991691872?pwd=WHJtTzVMaGUxa2dZY1BEaGc1MUhMUT09

16:15 “Dual Holdings and Stock Price Crash Risk” Yanjun Liu*, Hue Hwa Au Yong* and Barry Williams* *Monash University Presenter: Hue Hwa Au Yong

Discussant: Nicolas Eugster

16:45 “Large Blockholders and Stock Price Crash Risk” Nicolas Eugster University of Queensland Presenter: Nicolas Eugster

Discussant: Yuan George Shan

17:15 “Carbon Risk Disclosure Tone and Stock Price Crash Risk: An International Review” Hanlu Fan*, Yuan George Shan**, Qingliang Tang*, Junru Zhang***, Lu Zhang** *Western Sydney University, **University of Western Australia, ***Murdoch University Presenter: Yuan George Shan

Discussant: Marina Magidou

17:45 “Stock price crash risk: A critique of the agency theory viewpoint” Andreoua,b, Lambertidesa,, Magidoua,c aCyprus University of Technology, bDurham University, cUniversity of Central Lancashire Presenter: Marina Magidou

Discussant: Hue Hwa Au Yong


https://monash.zoom.us/j/88991691872?pwd=WHJtTzVMaGUxa2dZY1BEaGc1MUhMUT09


2.8 IPOs [I] Host: RMIT University / Session Chair: Gaoping Zheng

LINK: CLICK HERE

16:15 “Competitive Threat and Strategic Disclosure During the IPO Quiet Period” Michel Magnan*, Yetaotao Qiu**, Shafu Zhang*** * Concordia University, ** University of Nottingham Ningbo China, *** Nanjing University Presenter: Yetaotao Qiu

Discussant: Hai Long

14:45 “Are IPOs Significant to Firms’ Management Performance in an Emerging Stock Market? Evidence from China” Hai Long*, Qian Gao** *Anhui International Studies University, ** University of Science and Technology of China Presenter: Hai Long

Discussant: Ping Zhang

17:45 “Going Public and Innovation Evidence from the ChiNext stock market” Ping Zhang*, Jieying Gao* and Yiru Wang* * Capital University of Economics and Business Presenter: Ping Zhang

Discussant: Yetaotao Qiu

2.9 Corporate Finance and Governance [II] Host: La Trobe University / Session Chair: Kamran Ahmed


16:15 “Language Skills and Stock Market Participation: Evidence from Immigrants” Xu Gan*, Frank M. Song*, Yang Zhou* *Wuhan University Presenter: Xu Gan

Discussant: Mohammad Delwar Hussain

16:45 “‘Stakeholders on Board’: Impact on Microfinance Sustainability and Social Outreach” Mohammad Delwar Hussain*; Iftekhar Ahmed**; Mohiuddin Muhammad***; Md. Tareq Bin Hossain**** *Green University of Bangladesh, ** University of Otago, *** British Columbia, ****Thammasat University Presenter: Mohammad Delwar Hussain

Discussant: Xu Gan

17:15 “It pays to be visited: Institutional investors’ site visits, executive compensation and pay-performance sensitivity” Zixun Zhou*, Wenxin Wu* *Peking University Presenter: Zixun Zhou

Discussant: Maurizio Montone

17:45 “Managerial sentiment and employment” Maurizio Montone*, Yuhao Zhu**, Remco C. J. Zwinkels*** *Utrecht University, ** Erasmus University Rotterdam, *** Vrije Universiteit (VU) Amsterdam and Tinbergen Institute Presenter: Maurizio Montone


2.10 Corporate Finance [I] Host: Macquarie University / Session Chair: Gary Tian


16:15 “Why Do Institutional Investors Invest Through Intermediaries?” Vladimir Vladimirov* *University of Amsterdam and CEPR Presenter: Vladimir Vladimirov

Discussant: Wei-Fong Pan

16:45 “Lobbying activity over business cycles” Wei-Fong Pan* *University of Reading Presenter: Wei-Fong Pan

Discussant: Vladimir Vladimirov

17:15 “Agency Costs, Business Cycles, and Equity Prices” Adelphe Ekponon * * University Liverpool Management School

Discussant: Jie Den

https://aus01.safelinks.protection.outlook.com/ap/t-59584e83/?url=https%3A%2F%2Fteams.microsoft.com%2Fl%2Fmeetup-join%2F19%253ameeting_ZTM5Mjg0OGYtZDIxMS00MWM3LWE5NDktODg1YzQ4MGJjYTA1%2540thread.v2%2F0%3Fcontext%3D%257b%2522Tid%2522%253a%2522d1323671-cdbe-4417-b4d4-bdb24b51316b%2522%252c%2522Oid%2522%253a%25220947202e-cb7d-4977-89e4-9105a49b220a%2522%257d&data=04%7C01%7Cangel.zhong%40rmit.edu.au%7C128aba0b46f74254ef3208d8f00051f9%7Cd1323671cdbe4417b4d4bdb24b51316b%7C0%7C0%7C637523231500974584%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=9wqjYFgwUJWEAd9Y9cXC05omPNptb%2BnR7Ds%2Fds2rcF8%3D&reserved=0




Presenter: Adelphe Ekponon

17:45 “The Effect of Cash Flow Uncertainty on Corporate Real Estate Holding ——Supporting Effect or Precautionary Effect?” Jie Deng* *Guangdong University of Foreign Studies Presenter: Jie Deng

Discussant: Adelphe Ekponon

2.11 Innovation [II] Host: Auckland University of Technology / Session Chair: Shushu Liao

LINK: CLICK HERE

16:15 “Financing Innovation with Future Equity” Idan Hodor* *Monash University Presenter: Idan Hodor

Discussant: Guanming He

16:45 “The impact of the Shanghai – Hong Kong stock market connection on corporate innovation: Evidence from mainland China” Guanming He*, Xiaorong Li**, Jingbo Luo*** * Durham University, **Central University of Finance and Economics, ***Lanzhou University Presenter: Guanming He

Discussant: Idan Hodor

17:15 “Angels and Demons: The Negative Effect of Employees' Angel Investments on Corporate Innovation” Santanu Kundu*, Clemens Mueller* *University of Mannheim Presenter: Santanu Kundu


17:45 “A Tale of Two Countrymen: How does hometown tie reshape corporate innovation?” Jianjun Zhang*, Xiaoqi Zhang**, Xinyu Zhou*, Zixun Zhou* *Peking University, **Fudan University Presenter: Zixun Zhou

Discussant: Santanu Kundu

2.12 Asset Pricing [V] Host: Monash University / Session Chair: Paul Lajbcygier

Zoom Link: https://monash.zoom.us/j/88496414401?pwd=SVJUWXBqNGx2WHFsNXZWTTNBeFBOUT09

16:15 “How Financial Markets Create Superstars” Spyros Terovitis*, Vladimir Vladimirov* *University of Amsterdam Presenter: Spyros Terovitis

Discussant: Qiao Sun

16:45 “Does Anonymity Protect Retail Investors from Fast Traders?” Qiao Sun*, Huu Nhan Duong**, Paul Lajbcygier** *The University of Edinburgh, **Monash Univeristy Presenter: Qiao Sun

Discussant: Spyros Terovitis

17:15 “The Social Value of Information Uncertainty” Xue-Zhong He*, Lei Shi**, Marco Tolotti*** *University of Technology Sydney, **Macquarie University, ***Ca’Foscari University of Venice Presenter: Lei Shi

Discussant: Elvira Sojli

17:45 “Time-varying Group Unobserved Heterogeneity in Finance” Elvira Sojli*, Wing Wah Tham*, Wendun Wang** *University of New South Wales, **Erasmus University and Tinbergen Institute Presenter: Elvira Sojli

Discussant: Lei Shi

2.13 Asset Pricing [VI] Host: Victoria University of Wellington / Session Chair: Hai Lin

Zoom link: https://vuw.zoom.us/j/92768672756

16:15 “The Survival Discount and the Contagion Premium” Michela Altieri*, Giovanna Nicodano**

Discussant: Tong Xu

https://teams.microsoft.com/l/meetup-join/19%3ameeting_OTZiZjVlYzktZTE0Ni00NDFkLWE0NjQtOTA2MTA1ODhlNmQ4%40thread.v2/0?context=%7b%22Tid%22%3a%225e022ca1-5c04-4f87-8db7-d588726274e3%22%2c%22Oid%22%3a%22a1dcb172-f858-43de-b11a-8a1193d67896%22%7d

https://monash.zoom.us/j/88496414401?pwd=SVJUWXBqNGx2WHFsNXZWTTNBeFBOUT09



* Department of Business and Management, LUISS Guido Carli, Rome, ** University of Turin Presenter: Giovanna Nicodano

16:45 “Impact of Asset Growth on Cross-Section of Shariah Compliant Stock Returns” Muhammad Adnan*, Suresh Kumar Oad Rajput*, Muhammad Tahir Suleman** * Sukkur IBA University, ** University of Otago Presenter: Muhammad Adnan

Discussant: Giovanna Nicodano

17:15 “COVID-19 vaccines: Saving lives and the global stock markets” Kam Fong Chan*, Zhuo Chen**, Yuanji Wen*, Tong Xu*** *University of Western Australia, **Tsinghua University, ***Renmin University of China Presenter: Tong Xu

Discussant: Muhammad Adnan

2.14 Bonds & Banking [I] Host: University of South Australia / Session Chair: Reza Bradrania

Zoom Link: https://unisa.zoom.us/j/82301011831?pwd=U1NvVnVoUDhNRnlYUU9YUHFiSTZpdz09

16:15 “Does Reputation Matter? Evidence on Spatial Competition in China’s Bond Market” Xing Liu*, Lingxuan Yang*, Yu Liu* *Chongqing University Presenter: Lingxuan Yang

Discussant: Xin He

16:45 “Benchmarking Individual Corporate Bonds” Xin He*, Guanhao Feng*, Junbo Wang*, Chunchi Wu** * College of Business, City University of Hong Kong, **State University of Nre York at Buffalo Presenter: Xin He

Discussant: Lingxuan Yang

17:15 “Excess Debt, Bank Capitalization, and Investment Efficiency” Feng-Ying Sun*, Ai-Jing Han*, Yu-En Lin* *Jilin University Presenter: Ai-Jing Han

Discussant: Tigist Abebe Desalegn

17:45 “Economic Policy Uncertainty, Bank Competition and Financial Stability” Tigist Abebe Desalegn*, Hongquan Zhu* *Southwest Jiaotong University Presenter: Tigist Abebe Desalegn

Discussant: Ai-Jing Han

2.15 Corporate Social Responsibility [III] Host: Macquarie University / Session Chair: Jianlei Han Zoom Link: https://macquarie.zoom.us/j/84709017437

16:15 “Debt Contracting and Corporate Social Responsibility: The Role of Bank Loan Covenants” Xin Chang*, Tao Chen*, Endong Yang**, and Kunru Zou* *Nanyang Technological University, ** University of Macau Presenter: Kunru Zou

Discussant: Miao He

16:45 “Does ESG Performance Matter to Loan Features? Evidence from China” Miao He* *Beijing Normal University-Hong Kong Baptist University United International College Presenter: Miao He

Discussant: Kunru Zou

17:15 “CSR, market reactions, and comparability of financial accounting information” Xixi Shen, Kung-Cheng Ho** *Nankai University, **Guangdong University of Finance & Economics Presenter: Xixi Shen

Discussant: Qichun Wu

17:45 “Corporate environmental performance and corporate financial performance: Evidence from China and Japan” Qichun Wu*, Fumitaka Furuoka*, Rajah A/L Rasiah*

Discussant: Xixi Shen

https://unisa.zoom.us/j/82301011831?pwd=U1NvVnVoUDhNRnlYUU9YUHFiSTZpdz09



* University of Malaya Presenter: Qichun Wu

2.16 Risk taking Host: Deakin University / Session Chair: Ruipeng Liu Zoom Link: https://deakin.zoom.us/j/86947361262

16:15 “Trademark protection and CEO risk incentives” Bin Yang*, Tao Yuan** *Jinan University, **Nanjing University Presenter: Tao Yuan

Discussant: Kannan Thuraisamy

16:45 “Respectful culture and firm-level risk-taking” Md Al Mamun*, Balasingham Balachandran*, Sagarika Mishra**, Kannan Thuraisamy**, Yun Zhou* *La Trobe University, **Deakin University Presenter: Kannan Thuraisamy

Discussant: Bin Yang

17:15 “Dual Ownership and Risk-taking Incentives in Managerial Compensation” Tao Chen*, Li Zhang**, Qifei Zhu* *Nanyang Technological University, **University of Science and Technology of China Presenter: Tao Chen

Discussant: TBC

17:45 “Market optimism, CEO pay disparity and takeover success” Hoa Luong*, Lien Duong** *University of Otago, **Curtin University Presenter: Hoa Luong

Discussant: TBC

2.17 Asset Pricing [VII] Host: Auckland University of Technology / Session Chair: Nhut (Nick) Nguyen Hoang

LINK: CLICK HERE

16:15 “Geographic Links and Predictable Returns” Zuben Jin* and Frank Weikai Li* *Singapore Management University Presenter: Zuben Jin

Discussant: Zhaobo Zhu

16:45 “Extrapolative Beliefs and Extreme Returns in the Cross-Section” Tse-Chun Lin*, Licheng Sun**, Jun Tu***, Zhaobo Zhu**** *University of Hong Kong, **Old Dominion University, ***Singapore Management University, ****Shenzhen University Presenter: Zhaobo Zhu

Discussant: Zuben Jin

17:15 “Gold price ratios and aggregate stock returns” Libo Yin*, Zhi Su*, Tong Fang** *Central University of Finance and Economics, **Shandong University Presenter: Tong Fang

Discussant: Yi Jin

17:45 “Oil Price Shocks and Bank Risk around the World” Yi Jin*, Pengxiang Zhai**, Zhaobo Zhu*** *Tianjin University of Finance and Economics, **Central South University, ***Shenzhen University Presenter: Yi Jin

Discussant: Tong Fang

2.18 Political Connections Host: University of South Australia / Session Chair: Winston Wu

Zoom Link: https://unisa.zoom.us/j/87500730606?pwd=dFBPbHQ3MlNkcVhod2ZZc1l6OWpuQT09

16:15 “Family firms, political connections, and earnings quality: Evidence from the GCC region” Nasser S. Kh. Nasser*, Reza M. Monem*, Shamsun Nahar* *Griffith University Presenter: Nasser S. Kh. Nasser

Discussant: Kartick Gupta

16:45 “Policy uncertainty and performance around seasoned equity offerings: Australian Evidence” Chandrasekhar Krishnamurti*, Eswaran Velayutham**

Discussant: Nasser S. Kh. Nasser


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https://unisa.zoom.us/j/87500730606?pwd=dFBPbHQ3MlNkcVhod2ZZc1l6OWpuQT09


*University of South Australia, **University of Southern Queensland Presenter: Eswaran Velayutham

17:15 “Military connected firms” Sakkakom Maneenop* *Thammasat Business School Presenter: Sakkakom Maneenop

Discussant: Aamir Inam Bhutta

17:45 “Political Connections, Managerial Ability and Tunneling: Evidence from Emerging Market” Aamir Inam Bhutta*, Muhammad Fayyaz*, Aroosa Munir*, Muhammad Tahir Suleman**, Md Al Mamun*** * Government College University, Pakistan, ** University of Otago, *** La Trobe University Presenter: Aamir Inam Bhutta

Discussant: Sakkakom Maneenop

END OF DAY 1


Day Two: 8 April

THURSDAY, 8 APRIL, 08:00 – 18:00 AEST

Conference Concurrent Session 3.8 Auditing & Regulation

Host: Victoria University of Wellington / Session Chair: Thu Phuong Truong Zoom Link: https://vuw.zoom.us/j/99670650350?pwd=RmtSTTltRHowbGd1VCsveVYxNGozUT09 Password: fmcg2021

08:00 “The Impact of Joint Risk Disclosure on Auditor Liability: Evidence from China” Giorgio Gotti*, Jiahe (Leo) Liu*, Rebeca Perez*, Xingqiang Yin** *The University of Texas at El Paso, **Shanghai University of Finance and Economics Presenter: Jiahe (Leo) Liu

Discussant: Xi Li

08:30 “Auditor Choice and Non-audit Fees: Evidence from Group-Affiliated Indian Firms” Mohinder Parkash*, Rajeev Singhal*, Yun (Ellen) Zhu* *Oakland University Presenter: Rajeev Singhal

Discussant: Jiahe (Leo) Liu

09:00 “Crypto Wash Trading” Lin William Cong*, Xi Li**, Ke Tang***, and Yang Yang*** *Cornell University, **Newcastle University Business School, UK, ***Tsinghua University Presenter: Xi Li

Discussant: Rajeev Singhal

08:00 - 09:20 PhD Concurrent Sessions

1.1 Asset Pricing [I] Host: Monash University / Session Chair: A/Prof Phil Gharghori

Zoom Link: : https://monash.zoom.us/j/87943208223?pwd=NXRkbzVJNUJ2ejNlZ1owcEprcGNPZz09

08:00 “Bond Implied Risks Around Macroeconomic Announcements” Xinyang Li* *Boston University Presenter: Xinyang Li

Discussant: A/Prof Phil Gharghori

08:40 “Uncovering Mutual Fund Private Information with Machine Learning” Alan L. Zhang* * Georgia State University Presenter: Alan L. Zhang

Discussant: A/Prof Elvira Sojli

1.2 Corporate Governance [I] Host: Auckland University of Technology / Session Chair: Prof Nhut (Nick) Nguyen Hoang

LINK: CLICK HERE

08:00 “How Firm Transparency Influences CEO Compensation” Shihui Fan *Kent University Presenter: Shihui Fan

Discussant: Dr Shushu Liao

08:40 “Chinese Retail Investors and Shareholder Governance” Wilbur Chen* * Harvard University Presenter: Wilbur Chen

Discussant: Dr. Lubna Rahman

1.3 Corporate Finance [I] Host: Queensland University of Technology / Session Chair: Prof. Janice How

Zoom Link: https://qut.zoom.us/j/88268329294 Password: FMCG2021

Session moved from 08:30, Friday, 9 April

https://vuw.zoom.us/j/99670650350?pwd=RmtSTTltRHowbGd1VCsveVYxNGozUT09

https://monash.zoom.us/j/87943208223?pwd=NXRkbzVJNUJ2ejNlZ1owcEprcGNPZz09

https://teams.microsoft.com/l/meetup-join/19%3ameeting_Zjg0MzE5NzctNzZkYi00NGYwLTlhMTYtNWFiMmFhYmY4MmYz%40thread.v2/0?context=%7b%22Tid%22%3a%225e022ca1-5c04-4f87-8db7-d588726274e3%22%2c%22Oid%22%3a%223970a4b6-2a73-490e-9155-4017d428f7f9%22%7d



08:00 “Creditor Control of Environmental Activity” Jason (Pang-Li) Chen* *Drexel University Presenter: Jason (Pang-Li) Chen

Discussant: Prof. Janice How

08:40 “Accounting Conservatism and Debt Contracting: The Roles of Liquidation Value and Information Search” Kai Gu* * University of Houston Presenter: Kai Gu

Discussant: A/Prof Jin Yu

1.4 Corporate Finance [II] Host: Macquarie University / Session Chair: Dr Huimin Guo


08:00 “Does the Confidential IPO Registration Process Create Value?” Mengnan Zhu * Brandeis International Business School Presenter: Mengnan Zhu

Discussant: Prof Jing Shi

08:40 “Financial Distress and Forecast Errors” Brooke Peel* * Monash University Presenter: Brooke Peel

Discussant: Assoc Prof Kelvin J. K. Tan

1.5 Corporate Finance [III] Host: Victoria University of Wellington / Session Chair: Prof Hai Lin

Zoom Link: https://vuw.zoom.us/j/91943605259?from=addon

08:00 “To Sell or To Retain: Interest Rate Risk and Banks’ Mortgage Securitization Decisions” Zhanbing Xiao * * University of British Columbia Presenter: Zhanbing Xiao

Discussant: Prof Hai Lin

08:40 “Stakeholder Orientation and Stock Liquidity” Xianyang Xin * * Macquarie University Presenter: Xianyang Xin

Discussant: A/Prof Edward Podolski

1.6 Asset Pricing [II] Host: La Trobe University / Session Chair: Dr Dinh Phan


08:00 “The Price Impact of Twitter Feeds: A High-Frequency Study” Ni Yang* *Auckland University of Technology Presenter: Ni Yang

Discussant: Dr Dinh Phan

08:40 “Data breaches and firm credit risk” Kwabena Boasiako * * Victoria University of Wellington Presenter: Kwabena Boasiako

Discussant: Dr Mary Ma

1.7 Earnings Quality and Earnings Disclosure Host: Deakin University / Session Chair: Dr Robert Xiao


08:00 “A machine learning analysis of earnings management practices in economies dominated by family-controlled firms” Zeting Zang * * The University Sydney Presenter: Zeting Zang

Discussant: Assoc Prof Arifur Khan

08:40 “Loan Covenant Violations and Disclosure Improvement of Financial Statement Footnotes: Evidence from SFAS No.161” Yi Zheng *

Discussant: A/Prof Muhammd Ali


https://vuw.zoom.us/j/91943605259?from=addon




* Macquarie University Presenter: Yi Zheng

1.8 Corporate Governance [II] Host: RMIT University / Session Chair: Dr Tim Kooijmans

LINK CLICK HERE

08:00 “Board Gender Diversity and Investment Inefficiency” Chang Yu* *Victoria University of Wellington Presenter: Chang Yu

Discussant: Assoc Professor Daisy Chou

08:40 “The Effects of Supplier CEO Turnover Announcements on Customers” Thu Dung Nguyen * * La Trobe University of Wellington Presenter: Thu Dung Nguyen

Discussant: Assoc Prof Xiaoyang Li

1.9 CEO Characteristics Host: University of South Australia / Session Chair: Prof Chandra Krishnamurti

Zoom Link: https://unisa.zoom.us/j/87091350415?pwd=Mmg4VWJlcFhxSWpETHdUT0p5dmRldz09

08:00 “Tail Risk Network Analysis of Asian Banks” Thach N. Pham * * Edith Cowan University Presenter: Thach N. Pham

Discussant: Dr Adrian Fernandez

08:40 “Inventor CEO and Patent Litigation” Sayla Sowat Siddiqui* * Australian National University Presenter: Sayla Sowat Siddiqui

Discussant: Dr. Emdad Islam

Plenary Talk V Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021

09:30 - 10:30 Plenary Talk: “True Liquidity and Fundamental Prices: US Tick Size Pilot” Professor Tarun Chordia, Goizueta Business School, Emory University

Moderator: Professor Petko Kalev, La Trobe University

15 min break

Academic Plenary Panel Session I – Endogeneity Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021

10:45 - 12:15 Plenary Panel Session: “Endogeneity” Professor Nadia NM Massoud, Melbourne Business School, University of Melbourne Associate Professor Lalitha Naveen, Fox School of Business, Temple University Professor Tom Smith, Macquarie Business School, Macquarie University and UQ Business School, University of Queensland

Moderator: Emeritus Professor Robert Faff, UQ Business School, University of Queensland

LUNCH BREAK

Plenary Talk VI Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021

13:15 - 14:00 Plenary Talk: “Political connections and the transition to low-carbon sources in China: Evidence from a quasi-natural experiment”

Moderator: Professor Chandra Krishnamurti, University of South Australia

https://aus01.safelinks.protection.outlook.com/ap/t-59584e83/?url=https%3A%2F%2Fteams.microsoft.com%2Fl%2Fmeetup-join%2F19%253ameeting_N2Y3MDJhOGQtMDMxMy00NTJmLTllOTktZjFjZGJmYWNiNzU3%2540thread.v2%2F0%3Fcontext%3D%257b%2522Tid%2522%253a%2522d1323671-cdbe-4417-b4d4-bdb24b51316b%2522%252c%2522Oid%2522%253a%25220947202e-cb7d-4977-89e4-9105a49b220a%2522%257d&data=04%7C01%7Cangel.zhong%40rmit.edu.au%7Cefc272fcc6484c60ed8008d8f0012bfc%7Cd1323671cdbe4417b4d4bdb24b51316b%7C0%7C0%7C637523235151101330%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=JeU71RDCe0obH6diRoFjifqoOMe02baoQ0Ky8HTR3Ug%3D&reserved=0

https://unisa.zoom.us/j/87091350415?pwd=Mmg4VWJlcFhxSWpETHdUT0p5dmRldz09





Professor Tom Smith, Macquarie Business School, Macquarie University and UQ Business School, University of Queensland

30 min break

Practitioner Plenary Panel Session I – ASIC: Past, Present and Future Zoom Link https://latrobe.zoom.us/j/88396648452

14:30 - 16:00 Plenary Panel Session – Practitioners: "Australian Securities and Investments Commission (ASIC): Past, Present and Future" How might the Hayne Royal Commission suggestion to administer the law differently be implemented? A question Brexit has made relevant for the UK and so also other countries. Should a dedicated consumer regulator be created or should the competition and consumer regulator (ACCC) take on this role? Should a regulator of regulators be created or the Ralph Nader initiative of forming firm specific stakeholders’ associations appointing expert advocates/co-regulators? According to system scientists this bottom-up approach is the only way regulation or control of complexity by CEO’s can become reliable. It creates reliable risk management for directors while avoiding regulators being captured by private interests. It removes the cost of public or private ombudspersons. Unlike firm funded embedded regulators, stakeholder advocates also become management mentors to enhance both business competitiveness and stakeholder wellbeing. Directors of financial service firms and their regulators would become directly accountable to citizen stakeholders to enrich democracy.

Professor Pamela Hanrahan, Professor of Commercial Law and Regulation, UNSW Business School; Adviser to the Hayne Royal Commission; and, Queensland Regional Commissioner of ASIC in 2013-15 Ms Belinda Gibson, Commissioner/Deputy Chair, ASIC 2007-2013; and, Independent Company Director Dr Shann Turnbull, Founding Life Fellow, Australian Institute of Company Directors (AICD) & 1975 founder of its education course; and, Principal, International Institute for Self-governance Senator Andrew Bragg, Chair of Australian Parliamentary Select Committee on Financial Technology and Regulatory Technology (representing the government) Mr Stephen Jones MP, Shadow Minister for Financial Services (representing Labor Party)

Moderator: Professor Allan Fels AO, Professorial Fellow, University of Melbourne; Foundation Chair of the Australian Competition and Consumer Commission (ACCC 1995-2003); and, Foundation Dean, ANZSOG

15 min break

16:15 - 18:15 PhD Concurrent Sessions

2.1 Accounting [I] Host: Victoria University of Wellington / Session Chair: Dr Thu Phuong Truong

Zoom Link: https://vuw.zoom.us/j/96798641465?pwd=b3BBQ3NIUGQwVmJvcTY1R3oyOGJKdz09

16:15 “Tax Aggressiveness and Corporate Social Responsibility: Evidence from Malaysian Listed Companies” Santhi Shanmugam* * Massey University Presenter: Santhi Shanmugam

Discussant: Dr. Lien Duong

16:55 “The Quest for Clarity in Corporate Announcements: The Competing Effects of Timeliness and Detail” Nafiz Fahad * * Auckland University of Technology Presenter: Nafiz Fahad

Discussant: A/Prof Thu Phuong Truong

17:35 “Sociability and Cash Conversion Cycle: evidence from around the globe” Madaniah Mohammed A GRAMI * * La Trobe University

Discussant: Dr Jyoti Prasad Mukhopadhyay


https://vuw.zoom.us/j/96798641465?pwd=b3BBQ3NIUGQwVmJvcTY1R3oyOGJKdz09


Presenter: Madaniah Mohammed A GRAMI

2.2 Corporate Governance [III] Host: La Trobe University / Session Chair: Jing Zhao Zoom Link: https://latrobe.zoom.us/j/89516378855

16:15 “Common Institutional Ownership, Productivity, and Resource Allocation” Ha Truong* *Monash University Presenter: Ha Truong

Discussant: Assoc Prof Jing Zhao

16:55 “CEO Turnover Announcements and Long-term Performance” Thu Dung Nguyen* * La Trobe University Presenter: Thu Dung Nguyen

Discussant: Dr. Li Ge

17:35 “Insider Trading and Anomalies” Hong Xiang* * The University of Hong Kong Presenter: Hong Xiang

Discussant: Dr. Vincent Xiang

2.3 Corporate Finance [IV] Host: Deakin University / Session Chair: Dr Abdul Aziz Hayat Muhammad


16:15 “Who gets to first base? Start-up characteristics and entrepreneurial success” Alexander Montag * * University of Oxford Presenter: Alexander Montag

Discussant: Dr. Emma Li

16:55 “Understanding Crowd Beliefs about Asset Prices: Evidence from Social Media Text” Chukwuma Dim * * Frankfurt School of Finance & Management Presenter: Chukwuma Dim

Discussant: Dr Zhe (Andrew) An

17:35 “Media Coverage and Cash Holding” Huong Nguyen * * La Trobe University Presenter: Huong Nguyen

Discussant: Dr Shashank Bansal

2.4 Corporate Finance [V] Host: University of South Australia / Session Chair: Prof Chandra Krishnamurti

Zoom Link: https://unisa.zoom.us/j/83270206993?pwd=dmx6QXdMSkUrZnhhOVFEdU1FTFFGQT09

16:15 “Impact of liquidity management and capital structure on company performance: Evidence from New Zealand listed companies” M.H.T. Neleesha Shanthirathna* *Lincoln University Presenter: M.H.T. Neleesha Shanthirathna

Discussant: Dr Praveen Bhagwan

16:55 “Investigating the relationship between personal rates of return within MySuper and the account characteristics that influence these” Mark Bastiaans* * University of South Australia Presenter: Mark Bastiaans

Discussant: N/A

17:35 “Political Connections and Incumbents’ Restrictive Innovation” Roham Rezaei* * University of New South Wales Presenter: Roham Rezaei

Discussant: Prof Gary Tian

2.5 Corporate Governance [IV] Host: La Trobe University / Session Chair: Prof Darren Henry


16:15 “CEO Characteristics and Predation Risk” G M Wali Ullah *

Discussant: Dr. Gaoping Zheng



https://unisa.zoom.us/j/83270206993?pwd=dmx6QXdMSkUrZnhhOVFEdU1FTFFGQT09



* University of Adelaide Presenter: G M Wali Ullah

16:55 “An investigation into the impact of the growth in passive investment on corporate governance in the US, Europe and Japan” Irina Bevza * * Trinity College Dublin Presenter: Irina Bevza

Discussant: Prof Darren Henry

17:35 “Are CSR Strengths and Concerns Two Faces for the Same Coin? Evidence from Stock Mispricing” Lama Musleh * * La Trobe University Presenter: Lama Musleh

Discussant: Dr Ning Gong

2.6 Banking Host: Monash University / Session Chair: Assoc Prof Barry Williams

Zoom Link: : https://monash.zoom.us/j/82191570730?pwd=VWxXNEJla0k4SHY3YTZpdk1obEJsQT09

16:15 “Know Thyself: Free Credit Reports and the Retail Mortgage Market” Amit Kumar * *Hong Kong University of Science and Technology Presenter: Amit Kumar

Discussant: Assoc Prof Barry Williams

16:55 Lending relationships and microcredit interest rates: International evidence Panunya Phatraphumpakdee* * Monash University Presenter: Panunya Phatraphumpakdee

Discussant: Professor Jonathan Batten

17:35 Crime and Covenants Farhan Shazia * * Monash University Presenter: Farhan Shazia

Discussant: Professor Paul Mather

2.7 Risk Management Host: Auckland University of Technology / Session Chair: Dr Peiming Wang

Link: Click here

16:15 “Data-Driven Operational Risk Management: An Improved Understanding Of The Effect Of Causal Factors” Nikki Cornwell * * Bond University Presenter: Nikki Cornwell

Discussant: Dr Prasad Hegde

16:55 “CEO Centrality and Stock Price Crash Risk” Hien Duc Han* *University of South Australia Presenter: Hien Duc Han

Discussant: Dr. Md Al Mamun

17:35 “Managerial Heterogeneity in Risk-Taking Incentives: How Does It Affect Firm Risk and Performance?” Thao Hoang * * Australian National University Presenter: Thao Hoang

Discussant: Dr Thao Tran

2.8 Corporate Finance [VI] Host: Macquarie University / Session Chair: Dr Lurion De Mello


16:15 “Trade Creditors Response to Hedge Fund Activism” Amanjot Singh * *Deakin University Presenter: Amanjot Singh

Discussant: Dr Eric Tan

16:55 “Order Protection Rule Exemption and Market Quality” Duong Manh Hung* * University of South Australia

Discussant: Assoc Prof Adrian Lee

https://monash.zoom.us/j/82191570730?pwd=VWxXNEJla0k4SHY3YTZpdk1obEJsQT09

https://teams.microsoft.com/l/meetup-join/19%3ameeting_OTRiYmFhZTEtNGQ5MC00Y2RkLTg1NWEtYWY3MzQ2MzJmNzFi%40thread.v2/0?context=%7b%22Tid%22%3a%225e022ca1-5c04-4f87-8db7-d588726274e3%22%2c%22Oid%22%3a%22681f25c3-d4c3-47d8-a1ab-006884405f80%22%7d



Presenter: Duong Manh Hung

17:35 “Buy and Sell Distortions in a Short Sale Constrained Market: Evidence from Quasi-Experimental Analysis” Pallab Dey * * University of New South Wales Presenter: Pallab Dey

Discussant: Dr. Ivan Indriawan

4.19 Finance and Trading

Host: La Trobe University / Session Chair: Yun Zhou Zoom Link: https://latrobe.zoom.us/j/81848028656?pwd=QW0vNWJKUEdlYm9UZ0dacXRCM2VIUT09

16:15 “Venture Capital and Private Equity-backed firms at the beginning: Effect on firm financial policies” Michael O’Connor Keefe*, Huyen Nguyen* Victoria University of Wellington Presenter: Huyen Nguyen

Discussant: Jude Edeigba

16:35 “Does IAS 12 Adoption Reduces the GAP Associated with Accounting and Tax Regulations?” Jude Edeigba*, Ernest Gyapong**, Fawad Ahmad* * Massey University, ** Zayed University Presenter: Jude Edeigba

Discussant: Huyen Nguyen

17:15 “Does Algorithmic Trading Affect Analyst Research Production?” Pawel Bilinski*, Irene Karamanou**, Anastasia Kopita***, Marios Panayides** *Cass Business School, City, University of London, **University of Cyprus, ***Warwick Business School Presenter: Pawel Bilinski

Discussant: Yuanto Kusnadi

17:45 “Insider Trading Restrictions and Real Activities Earnings Management: International Evidence” Fang Hu*, Yuanto Kusnadi**, Jiwei Wang**, Yujie Wang*** *Griffith University, **Singapore Management University, ***Central South University Presenter: Yuanto Kusnadi

Discussant: Pawel Bilinski

END OF DAY 2

Session moved from 15:30, Friday, 9 April

https://latrobe.zoom.us/j/81848028656?pwd=QW0vNWJKUEdlYm9UZ0dacXRCM2VIUT09


Day Three: 9 April

FRIDAY, 9 APRIL, 08:00 – 18:00 AEST


3.1 Funds Management [I] Host: Macquarie University / Session Chair: Dan Daugaard


08:30 “Fund Share Gains Lead to Borrower Pains: Investor Competition and the Cost of Capital” Huaizhi Chen* *University of Notre Dame Presenter: Huaizhi Chen

Discussant: Han Xiao

09:00 “Predatory Trading in Mutual Funds” Tianyue Zhao* *Our Lady of the Lake University Presenter: Tianyue Zhao

Discussant: Huazhi Chen

09:30 “Does Working from Home Decrease Profitability and Productivity? Evidence from the Mutual Fund Industry” *Han Xiao *Pennsylvania State University Presenter: Han Xiao

Discussant: Tianyue Zhao

3.2 Funds Management [II] Host: Macquarie University / Session Chair: Keith Woodward


08:30 “Common Fund Flows: Flow Hedging and Factor Pricing” Winston Wei Dou*, Leonid Kogan**, Wei Wu*** *University of Pennsylvania, **MIT (Sloan) and NBER, ***Texas A&M University Presenter: Winston Wei Dou

Discussant: Nick Turner

09:00 “Distressed Firm Restructurings and Hedge Funds with Expertise: Saviors and Vultures” Nina Baranchuk*, Michael J. Rebello* *University of Texas at Dallas Presenter: Nina Baranchuk

Discussant: Wiston Wei Dou

09:30 “Rush to raise: does fundraising pressure incentivise strategic venture capital deal pricing” Peter Pham*, Nick Turner*, Jason Zein* *UNSW Presenter: Nick Turner

Discussant: Nina Baranchuk

3.3 Asset Pricing [VIII] Host: Monash University / Session Chair: Stephen Brown

Zoom Link: https://monash.zoom.us/j/88434470232?pwd=WTQ5bHdpbjNMWU5lQy9UQmZLWUpHZz09

08:30 “Past Stock Returns and the MAX Effect” Surya Chelikana*, Osman Kilic* and Xuewu (Wesley) Wang* *Quinnipiac University Presenter: Xuewu (Wesley) Wang

Discussant: Yan Ji

09:00 “Cross-Asset Tandem Trading and Extraordinary Volatility” Robert Garrison*, Pankaj K. Jian**, Mark Paddrik*** *Office of the Chief Economist, Financial Industry Regulatory Authority **University of Memphis, Office of Financial Research, U.S. Department of the Treasury, **Office of Financial Research, U.S. Department of the Treasury

Discussant: Xuewu (Wesley) Wang



https://monash.zoom.us/j/88434470232?pwd=WTQ5bHdpbjNMWU5lQy9UQmZLWUpHZz09


Presenter: Mark Paddrik

09:30 “Feedback and Contagion Through Distressed Competition” Hui Chen*, Winston Wei Dou**, Hong ye Guo**, Yan Ji*** *MIT Sloan and NBER, **University of Pennsylvania, ***Hong Kong University of Science and Technology Presenter: Yan Ji

Discussant: Mark Paddrik

3.4 Asset Pricing [IX] Host: Monash University / Session Chair: Philip Gharghori

Zoom Link: https://monash.zoom.us/j/85257560188?pwd=d0c1RGNyRURLRHFTRUJiMUgzT3ZGUT09

08:30 “Investor Disagreement and Expected Stock Returns” Lawrence Hsiao* *Northwestern University Presenter: Lawrence Hsiao

Discussant: Fotis Grigosris

09:00 “Competition Network, Distress Propagation, and Stock Returns” Mingming Ao*, Winston Wei Dou**, Shane A. Johnson***, Wei Wu*** *San Diego University, **University of Pennsylvania, *** Texas A&M University Presenter: Wei Wu

Discussant: Lawrence Hsiao

09:30 “Investment and Valuation under Supply-Chain Uncertainty” Fotis Grigosris*, and Gill Segal** *Indiana University, **University of North Carolina Presenter: Fotis Grigosris

Discussant: Wei Wu

3.5 Asset Pricing [X] Host: Victoria University of Wellington / Session Chair: Hai Lin Zoom Link: https://vuw.zoom.us/j/99829699945?from=addon

08:30 “Monitoring and Learning by Institutional Investors: A Within Portfolio Approach” Jingyu Zhang* *Queen’s University Presenter: Jingyu Zhang

Discussant: Lin William Cong

09:00 “Intermediation Networks and Market Liquidity: Evidence from CDS Markets” Mark Paddrik*, Stathis Tompaidis* *U.S Department of Treasury, **University of Texas at Austin Presenter: Stathis Tompaidis

Discussant: Jingyu Zhang

09:30 “AlphaPortfolio: Direct Construction Through Reinforcement Learning and Interpretable AI” Lin William Cong*, Ke Tang**, Jingyuan Wang***, and Yang Zhang*** *Cornell University, **Tsinghua University, ***Beihang University Presenter: Lin William Cong

Discussant: Stathis Tompaidis

3.6 Bonds and Banking [II] Host: Deakin University / Session Chair: Arifur Khan


08:30 “Issuance and Valuation of Corporate Bonds with Quantitative Easing” Stefano Pegoraro*, and Mattia Montagna** *University of Notre Dame, **European Central Bank Presenter: Stefano Pegoraro

Discussant: Steve Pak Yeung Wu

09:00 “CEO Overconfidence and the Choice of Debt Issuance” Li Ge, Taher Jamil, and Jin Yu* *Monash University Presenter: Taher Jamil

Discussant: Stefano Pegoraro

09:30 “Corporate Balance Sheets and Sovereign Risk Premia” Steve Pak Yeung Wu * University of British Columbia & University of California, San Diego Presenter: Steve Pak Yeung Wu

Discussant: Taher Jamil

https://monash.zoom.us/j/85257560188?pwd=d0c1RGNyRURLRHFTRUJiMUgzT3ZGUT09

https://vuw.zoom.us/j/99829699945?from=addon



3.7 Banking [I] Host: University of South Australia / Session Chair: Damien Wallace

Zoom Link: https://unisa.zoom.us/j/84050705336?pwd=SW0rU2E4bHI0TTBhWnFBT0VRRkNxUT09

08:30 “Customer Satisfaction and the Durability of Retail Banking Relationships” Joel F. Houston*, Hongyu Shan**, and Yu Shan*** *University of Florida, **Fordham University, ***Concordia University Presenter: Yu Shan

Discussant: Samuel Rosen

09:00 “Buying a Seat at the Table: Bankruptcy Law and Distress Investing” Mike Burkart*, Samuel Lee**, Vladimir Vladimirov*** *London School of Economics and Swedish House of Finance, CEPR and ECGI, **Santa Clara University, ***University of Amsterdam and CEPR Presenter: Samuel Lee

Discussant: Yu Shan

09:30 “Public Firm Borrowers of the US Paycheck Protection Program” Anna Cororaton*, Samuel Rosen** * Southern Methodist University, ** Temple University Presenter: Samuel Rosen

Discussant: Samuel Lee

SESSION 3.8 at 08:30 – 10:00 ON 9 APRIL HAS BEEN MOVED TO THURSDAY, 8 APRIL, 08:00 – 09:30

3.8 Auditing & Regulation Host: Victoria University of Wellington / Session Chair: Thu Phuong Truong

Zoom Link: https://vuw.zoom.us/j/99670650350?pwd=RmtSTTltRHowbGd1VCsveVYxNGozUT09

08:30 “The Impact of Joint Risk Disclosure on Auditor Liability: Evidence from China” Giorgio Gotti*, Jiahe (Leo) Liu*, Rebeca Perez*, Xingqiang Yin** *The University of Texas at El Paso, **Shanghai University of Finance and Economics Presenter: Jiahe (Leo) Liu

Discussant: Xi Li

09:00 “Auditor Choice and Non-audit Fees: Evidence from Group-Affiliated Indian Firms” Mohinder Parkash*, Rajeev Singhal*, Yun (Ellen) Zhu* *Oakland University Presenter: Rajeev Singhal


09:30 “Crypto Wash Trading” Lin William Cong*, Xi Li**, Ke Tang***, and Yang Yang*** *Cornell University, **Newcastle University Business School, UK, ***Tsinghua University Presenter: Xi Li

Discussant: Rajeev Singhal

3.9 Corporate Social Responsibility [IV] Host: La Trobe University / Session Chair: Mary Ma Zoom Link: https://latrobe.zoom.us/j/81081552070

08:30 “The Effect of ESG Disclosure on Corporate Investment Efficiency” Elsa Allman*, Joonsung Won* *Baruch College, The Zicklin School of Business Presenter: Elsa Allman

Discussant: Joseph Kalmenovitz

09:00 “Is Public Equity Deadly? Evidence from Workplace Safety and Productivity Tradeoffs in the Coal Industry” Erik P. Gijie*, and Micheal D. Wittry** *Wharton and NBER, **Ohio State University Presenter: Micheal D. Wittry

Discussant: Elsa Allman

09:30 “The Environment Consequences of Pay Inequality” Joseph Kalmenovitz*, and Jason (Pang-Li) Chen* *Drexel University Presenter: Joseph Kalmenovitz

Discussant: Micheal D. Wittry

3.10 FinTech and Machine Learning Host: Deakin University / Session Chair: Vincent Xiang


https://unisa.zoom.us/j/84050705336?pwd=SW0rU2E4bHI0TTBhWnFBT0VRRkNxUT09

https://vuw.zoom.us/j/99670650350?pwd=RmtSTTltRHowbGd1VCsveVYxNGozUT09




08:30 “How to Talk When a Machine is Listening?: Corporate Disclosure in the Age of AI” Sean Cao*, Wei Jiang**, Baozhong Yang*, Alan L. Zhang* *Georgia State University, **Columbia Business School, NERB, and ECGI Presenter: Alan L. Zhang

Discussant: Ke Tang

09:00 “Predicting United States National Basketball Games using Machine Learning Techniques” Jizhi Liu*, Dulani Jayasuriya*, Kevin Dow * *University of Auckland Presenter: Jizhi Liu

Discussant: Alan L. Zhang

3.11 Corporate Governance [IV] Host: RMIT University / Session Chair: Banita Bissoondoyal-Bheenick

LINK: CLICK HERE

08:30 “Caught in the act: How corporate scandals hurt employees” Salil Gadgil*, Jason Sockin** *UCLA Anderson, **University of Pennsylvania Presenter: Jason Sockin

Discussant: Jinsook Lee

09:00 “Managerial Risk-Taking Incentives and Debt Diversity: Evidence from FAS 123R” Daewoung Choi*, Jinsook Lee**, and Ha-Chin Yi*** *Louisiana State University in Shreveport, **Independent Researcher, ***Texas State University Presenter: Jinsook Lee

Discussant: Aymeric Bellon

09:30 “Does Private Equity Ownership Make Firms Cleaner? The Role of Environmental Liability Risks” Aymeric Bellon* *Wharton Presenter: Aymeric Bellon

Discussant: Jason Sockin

3.12 Corporate Finance [II] Host: Auckland University of Technology / Session Chair: Hardjo Koerniadi

LINK CLICK HERE

08:30 “Shining a Light in a Dark Corner: EDGAR Search Activity Reveals the Strategically Leaked Plans of Activist Investors” Ryan Flugum*, Choonsik Lee**, Matthew E. Southern*** *University of Northern Iowa, **University of Rhode Island, ***University of South Carolina Presenter: Choonsik Lee

Discussant: Steven Xiaofan Zheng

09:00 “The rising tide lifts some interest rates: climate change, natural disasters, and loan pricing” Ricardo Correa*, Ai He**, Christoph Herpfer***, Ugur Lel**** *Federal Reserve Board, Division of International Finance **University of South Carolina, ***Emory University, ****University of Georgia Presenter: Ai He

Discussant: Choonsik Lee

09:30 “Share pledges, analyst recommendations, and market manipulation” Jing Lin*, Steven Xiaofan Zheng **, Xiaoqi Dong*** *University of Electronic Science and Technology of China, **University of Manitoba, ***Stony Brook University Presenter: Steven Xiaofan Zheng

Discussant: Ai He

3.13 Accounting [III] Host: Queensland University of Technology / Session Chair: Ellie Chapple

Zoom Link: https://qut.zoom.us/j/82022473502?pwd=Ym5CRXArQTNmS0xsSFZYWFoxNXhOdz09&from=addon Password: fmcg2021

08:30 “The Effect of Unintended Employee Benefits on Productivity: Evidence from the Tax Cuts and Jobs Act of 2017” Jiahe (Leo) Liu*, Rebeca Perez* *The University of Texas at El Paso Presenter: Jiahe (Leo) Liu

Discussant: Matteo Binfarè

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https://qut.zoom.us/j/82022473502?pwd=Ym5CRXArQTNmS0xsSFZYWFoxNXhOdz09&from=addon


09:00 “Can Tax-Induced Financial Pressure Spur Fraud? Evidence from Arson” Mason Snow*, Roger M. White* *Arizona State University Presenter: Roger M. White


09:30 “A New Lease on Firm Behaviour” Matteo Binfarè*, Robert A. Connolly**, Fotis Grigoris***, and Corcker H. Liu**** *University of Missouri, **University of Miami, ***Indiana University, ****Cornell University Presenter: Matteo Binfarè

Discussant: Roger M. White

3.14 Corporate Governance [V] Host: Queensland University of Technology / Session Chair: Seungho Choi

Zoom Link: https://qut.zoom.us/j/9908080735

08:30 “Do Directorship Returns Affect CEO Turnover?” Jason (Pang-Li) Chen* *Drexel University Presenter: Jason (Pang-Li) Chen

Discussant: Mengxin Zhao

09:00 “Corporate Leadership and Inherited Beliefs about Gender Roles” R. David McLean*, Christo Pirinsky**, Mengxin Zhao*** *Georgetown University, **The University of Central Florida, ***U.S. Securities and Exchange Commission Presenter: Mengxin Zhao

Discussant: Winbur Chen

09:30 “Activist Driven Spinoffs” Winbur Chen*, Suraj Srinivasan* *Harvard University Presenter: Winbur Chen

Discussant: Jason (Pang-Li) Chen

3.15 Accounting [IV] Host: La Trobe University / Session Chair: Muhammad Ali


08:30 “Strategic Financial Reporting of Target Firms in Mergers and Acquisitions: Evidence from Non-GAAP Earnings” Kerui Zhai* *Deakin University Presenter: Kerui Zhai

Discussant: Lutfa Tilat Ferdous

09:00 “Managerial Ability and Corporate Climate Change Disclosures: Evidence from U.S” Hussein Daradkeh*, Syed Shams, Sudipta Bose, Abeyratna Gunasekarage *University of Southern Queensland, **University of Newcastle, ***Monash University Presenter: Hussein Daradkeh

Discussant: Kerui Zhai

09:30 “An Empirical Investigation of the Effect of Powerful CFOs on Disclosure Quality” Lutfa Tilat Ferdous*, Kamran Ahmed*, Darren Henry * * La Trobe University Presenter: Lutfa Tilat Ferdous

Discussant: Hussein Daradkeh

3.16 Corporate Finance and Governance [III] Host: RMIT University / Session Chair: Thao Tran

LINK CLICK HERE

08:30 “How to Motivate Core Technical Employees and Middle-Level Managers? Evidence from Equity Incentive and Corporate Innovation” Shunji Mei*, Ronghong Huang*, Kelvin Jui Keng Tan* *The University of Queensland Presenter: Shunji Mei

Discussant: Zhe An

09:00 “Resolve the Global Risk-Related Agency Conflict: Evidence from U.S. Foreign Institutional Investors?” Tao Zhu*, Zhe An**, Chen Chen**, Donghui Li***

Discussant: Shunji Mei



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*Jinan University, **Monash University, ***Shenzhen University Presenter: Zhe An

3.17 IPOs [II] Host: Auckland University of Technology / Session Chair: Prasad Hegde

LINK CLICK HERE

08:30 “Is Fair Value Information Fairly Priced? Evidence from IPOs in Global Capital Markets” Colly He*, Carl Hsin-han Shen*, Cheng‑Yi Shiu** *Macquarie University, **National Central University Presenter: Carl Hsin-han Shen

Discussant: Yanling Wu

09:00 “Does news media mitigate optimism in affiliated analysts’ first recommendations following the post-IPO quiet period?” Dixin Wu* *Australian National University Presenter: Dixin Wu

Discussant: Carl Hsin-han Shen

09:30 “The Impact of Politicians’ Hometown Favoritism on Resource Allocation” Yanling Wu*, Gary Gang Tian* *Macquarie University Presenter: Yanling Wu

Discussant: Dixin Wu

3.18 Emerging Markets [V] Host: University of South Australia / Session Chair: Simon Cottrell

Zoom Link: https://unisa.zoom.us/j/83232173607?pwd=WUw5UUZQeDNkRno1U3VrMjdvdkpkdz09

08:30 “Corporate Governance and Liquidity Creation in a Dual Banking” Nurhastuty k. Wardhani*, Robert Faff*, Mamiza Haq* *University of Queensland Presenter: Nurhastuty k. Wardhani

Discussant: Xiaolu Hu

09:00 “Determinants of the Internal Audit Function in Microfinance Institutions- A Global Evidence” Abiodun Omidiji*, Nives Botica-Redmayne*, Dimu Ehalaiye* and Ernest Gyapong** *Massey University, **Zayed University Presenter: Abiodun Omidiji

Discussant: Nurhastuty k. Wardhani

09:30 “Understanding credit risk for Chinese companies: A default-based approach” Edward I. Altman*, Xiaolu Hu**, and Jing Yu*** *New York University, **RMIT University, ***University of Sydney Presenter: Xiaolu Hu

Discussant: Abiodun Omidiji

15 min Break

Acadaemic Plenary Panel Session II – Editors Zoom Link https://latrobe.zoom.us/j/88396648452

10:15 - 11:45 Plenary Panel Session: Editors Professor Tarun Chordia, Goizueta Business School, Emory University Emeritus Professor Robert Faff, UQ Business School, University of Queensland Professor Jonathan M. Karpoff, Foster School of Business, University of Washington Professor Tom Smith, Macquarie Business School, Macquarie University and UQ Business School, University of Queensland

Moderator: Professor Terry Walter, University of Wollongong

15 min Break

Plenary Talk VII – Industry Keynote

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https://unisa.zoom.us/j/83232173607?pwd=WUw5UUZQeDNkRno1U3VrMjdvdkpkdz09



Zoom Link https://latrobe.zoom.us/j/88396648452 Passcode: fmcg2021

12:00 - 13:00 "Sustainability in Investment Management: Trends and Opportunities" Ms Maria Wilton AM, Vice Chair of the Global Board of Governors of the CFA Institute; Deputy Chair of Infrastructure Victoria; and, a Director of Victorian Funds Management Corporation, Australia Post Super and the Dexus Wholesale Property Fund

Welcome: Professor Susan Dodds, Deputy Vice-Chancellor (Research and Industry Engagement), La Trobe University Chair and Moderator: Mr Greg Jamieson, Head of Department, Economics, Finance and Marketing, La Trobe Business School

LUNCH BREAK

Practitioner Plenary Panel Session II – The Future of Superfund Investing Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021

13:45 - 15:15 Plenary Panel Session – Practitioners: “The future of superfund investing” Ms Mary Delahunty, Head of Impact, HESTA -- Discussing: Responsible Investments Mr Mark Delaney, CFA, CIO, AustralianSuper -- Discussing How the pandemic has changed the way super funds think about investing Dr Michael Kollo, Chief Economist, Fæthm; and, Honorary Academic, ANU -- Discussing Artificial Intelligence

Moderator: Mr Rob Fowler, CFA Society Melbourne

15 min Break


4.1 Political Connections and Corporate Philanthropy Host: University of South Australia / Session Chair: Chandra Krishnamurti

Zoom Link: https://unisa.zoom.us/j/84197397837?pwd=aUZCV01YWmlBa280cnRHdmJ6SHpEZz09

15:30 “Disaster Relief, Inc.” Hao Liang*, Cara Bansteenkiste** *Singapore Management University, **UNSW Presenter: Cara Bansteenkiste

Discussant: Chandrasekhar Krishnamurti

16:00 “Returns, Information Disclosure, and Corporate Philanthropy of Sin Firms” Kartick Gupta*, Chandrasekhar Krishnamurti * *University of South Australia Presenter: Chandrasekhar Krishnamurti

Discussant: Cara Bansteenkiste

16:30 “The value of political connections during political crisis: Evidence from Hong Kong” Sasin Pringpong* *Thammasat University Presenter: Sasin Pringpong

Discussant: Linhan Zhang

17:00 The Impact of Reputational Sanctions on Responsible Individuals in China” Robin Huang*, Linhan Zhang* *Chinese University of Hong Kong Presenter: Linhan Zhang

Discussant: Sasin Pringpong

4.2 Banking [II] Host: RMIT University / Session Chair: Daisy Chou

LINK CLICK HERE

15:30 “Betting against bank profitability” Md Akhtaruzzaman*, Mardy Chiah**, Paul Docherty*** and Angel Zhong**** *Australian Catholic University, **Swinburne University, ***Monash University, ****RMIT Univerisity

Discussant: Qianli Ma



https://unisa.zoom.us/j/84197397837?pwd=aUZCV01YWmlBa280cnRHdmJ6SHpEZz09

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Presenter: Angel Zhong

16:00 “Impacts of COVID-19 Pandemic on Peer to Peer Lending in China” Qianli Ma*, Lei Xu*, Zen Lu*, Sajid Anwar** * University of South Australia, ** University of the Sunshine Coast Presenter: Qianli Ma

Discussant: Angel Zhong

16:30 “CEO Turnover, Big-Bath and Bank Risk” Md Sohel Saklain*, Barry Williams*, Jean-Pierre Fenech* *Monash University Presenter: Md Sohel Saklain

Discussant: Jianlei Han

17:00 “Digital Footprints as Collateral for Debt Collection” Lili Dai*, Jianlei Han**, Jing Shi**, and Bohui Zhang*** *UNSW **Macquarie University, ***The Chinese University of Hong Kong Presenter: Jianlei Han

Discussant: Md Sohel Saklain

4.3 Mergers and Acquisitions [II] Host: Monash University / Session Chair: Hue Hwa Au Yong

Zoom Link: https://monash.zoom.us/j/83245939397?pwd=bFgvWGNYMkJWczU5Y1F0dllZdjJoZz09

15:30 “Acquisition activity and corporate tax avoidance: Evidence from US firms” Meshal Aldaham*, Lien Duong*, Grantley Taylor * *Curtin University Presenter: Meshal Aldaham

Discussant: Kai Wu

16:00 “Does Performance Commitment Protect M&A Bidders?” Kai Wu*, Maobin Xu*, Zejun Jin * *Central University of Finance and Economics Presenter: Kai Wu

Discussant: Meshal Aldaham

16:30 “Enough is Enough: Policy Uncertainty and Acquisition Abandonment” Andrew Ferguson*, Wei Hu*, Peter Lam * * University of Technology Sydney Presenter: Wei Hu

Discussant: Mingming Ji

17:00 “Aggressive CEOs and Bank Mergers and Acquisitions” Mingming Ji*, Liangliang Jiang* *The Hong Kong Polytechnic University Presenter: Mingming Ji

Discussant: Wei Hu

4.4 Culture, Audit Fee & Liquidity Host: Deakin University / Session Chair: Sutha Kanapathippillai


15:30 “Client Firm Workplace Culture and Audit fees” Balasingham Balachandran*, Christo Karuna**, Sagarika Mishra***, Prem Puwanenthiren**** *La Trobe University, **Monash University, ***Deakin University, **** University of Westminster Presenter: Prem Puwanenthiren

Discussant: Xuan Sean Sun

16:00 “Book-tax conformity and the demand for auditor-provided tax services: European evidence” Xuan Sean Sun * * Massey University Presenter: Xuan Sean Sun

Discussant: Prem Puwanenthiren

16:30 “Corporate social responsibility and bank liquidity creation” Chen Zheng*, Adrian Cheung**, Junru Zhang***, Imran Haider* *Curtin University, **City University of Macau, ***Murdoch University Presenter: Chen Zheng

Discussant: Rui Ma

17:00 “Does Innovative Corporate Culture Matter? Evidence from Stock Market Liquidity” Nader Atawnah*, Balasingham Balachandran**, Rui Ma**, and Sagarika Mishra***

Discussant: Chen Zheng

https://monash.zoom.us/j/83245939397?pwd=bFgvWGNYMkJWczU5Y1F0dllZdjJoZz09



*Edith Cowan University, **La Trobe University, ***Deakin University Presenter: Rui Ma

4.5 Corporate Social Responsibility [V] Host: La Trobe University / Session Chair: Muhammad Ali


15:30 “Corporate Social Responsibility (CSR) Award and Firm Value” Samuel Jebaraj Benjamin*, Pallab Biswas** *University of Waikato, **University of Otago Presenter: Pallab Biswas

Discussant: Arifur Khan

16:00 “Mandatory corporate social responsibility disclosure, business group and agency costs: Evidence from India” Rajiv Nair*, Mohammad Badrul Muttakin**, Arifur Khan**, Nava Subramaniam***, VS Somanath* *Amrita Vishwa Vidyapeetham University, India, **Deakin University, ***RMIT University Presenter: Arifur Khan

Discussant: Pallab Biswas

16:30 “Analysis of Sustainability Reporting by Maori Organisations in New Zealand” Murugesh Arunachalam*, Samphous Ouch, Samuel Benjamin *University of Waikato Presenter: Murugesh Arunachalam

Discussant: Shann Turnbull

17:00 “Regulating Financial Misconduct: “Should the existing law be administered or enforced differently?” Shann Turnbull * *International Institute for Self-governance Presenter: Shann Turnbull

Discussant: Murugesh Arunachalam

4.6 Policy Uncertainty Host: Queensland University of Technology / Session Chair: Xiqian Zhang Zoom Link: https://qut.zoom.us/j/86957797737 Password: FMCG2021

15:30 “Does economic uncertainty restrain firm innovation?” Biao Li*, Yantao Ling**, Chen Luo* * Zhongnan University of Economics and Law, ** Chongqing University Presenter: Chen Luo

Discussant: William Mbanyele

16:00 “Economic Policy Uncertainty and Stock Liquidity: The Mitigating Effect of Information Disclosure” Fengrong Wang*, William Mbanyele * * Shandong University Presenter: William Mbanyele

Discussant: Chen Luo

16:30 “Political Determinants of Corporate Tax Behaviour” Fawad Ahmad *, Noor Houqe*, Tony Van Zijl** *Massey University, **Victoria University of Wellington Presenter: Fawad Ahmad

Discussant: Ranajit Kumar Bairagi

17:00 “Dynamic Impacts of Economic Policy Uncertainty (EPU) on Australian Stock Market: An Intercontinental Evidence” Ranajit Kumar Bairagi * * Asia Pacific International College Presenter: Ranajit Kumar Bairagi

Discussant: Fawad Ahmad

4.7 Social Capital Host: Queensland University of Technology / Session Chair: Ellie Chapple

Zoom Link: https://qut.zoom.us/j/84760042740?pwd=QkJYZkxvTGhPb0h2aEpWS3ZmaXROQT09&from=addon Password: fmcg2021

15:30 “The Impact of CEO’s Social Capital on China’s Qualified Foreign Institutional Investors’ Blockholdings” Xiaoyin Wei*, Ellie Chapple*, Yanyan Huang** *Queensland University of Technology **Jinling Institute of Technology Presenter: Xiaoyin Wei

Discussant: Yiping Chen



https://qut.zoom.us/j/84760042740?pwd=QkJYZkxvTGhPb0h2aEpWS3ZmaXROQT09&from=addon


16:00 “Social capital and cost of debt: Evidence from Kung Fu Panda” Yiping Chen*, Yuan George Shan**, Jimin Wan**g, Xinxin Yang* *Shanxi University **The University of Western Australia Presenter: Yiping Chen

Discussant: Xiaoyin Wei

16:30 “Social Capital and Insider Trading” Xuan Mi*, Ronghong Huang*, Kelvin Jui Keng Tan* *University of Queensland Presenter: Xuan Mi

Discussant: Conrado Diego García Gómez

17:00 “Does board social capital matter for corporate risk-taking on emerging markets?: Evidence from Russia” Conrado Diego García Gómez*, Marina A. Zavertiaeva**, Dmitry Kirpischikov**, Félix J. López-Iturriaga *’ ** * University of Valladolid, ** National Research University Higher School of Economics Presenter: Conrado Diego García Gómez

Discussant: Xuan Mi

4.8 Earnings Forecasts and Disclosure Host: Victoria University of Wellington / Session Chair: Thu Phuong Truong

Zoom Link: https://vuw.zoom.us/j/92391775888?pwd=TTdGaFk4R1ZSVGNIQjVXY1pmWkNGUT09 Password: fmcg2021

15:30 “Soft Regulatory Enforcement, Management Earnings Forecast Behaviour and Information Content of Analysts’ Earnings Forecasts in a Continuous Disclosure Environment” Larrelle Chapple*, Lien Duong**, Thu Phuong Truong*** *Queensland University of Technology, **Curtin University, ***Victoria University of Wellington Presenter: Thu Phuong Truong

Discussant: Tejshree Kala

16:00 “Heightened Uncertainty, Management Earnings Forecasts and Forward-Looking Statements” Vernon Mah*, Tejshree Kala*, and Marvin Wee* * The Australian National University Presenter: Tejshree Kala

Discussant: Thu Phuong Truong

16:30 “The consequences of an uncertain information environment around FOMC announcements” Bart Frijns*, Ivan Indriawan**, Alireza Tourani-Rad**, Chris H Zhang** *Auckland University of Technology, **Open University of the Netherland Presenter: Chris Zhang

Discussant: Thu Phuong Truong

17:00 “Covid-19 Related Announcements in a Continuous Disclosure Environment: Drivers and Stock Market Implication” Larelle Chapple*, Lien Duong**, Thu Phuong Truong*** *Queensland University of Technology, **Curtin University, ***Victoria University of Wellington Presenter: Thu Phuong Truong

Discussant Chris Zhang

4.9 Carbon and Climate Change Host: Auckland University of Technology / Session Chair: Shushu Liao

LINK CLICK HERE

15:30 “The effects of carbon emissions and agency cost on firm performance” Muhammad Nurul Houqe*, Solomon Opare*, Muhammad Kaleem Zahir-ul-Hassan**, Kamran Ahmed *** *Massey University, **Zayed University, ***La Trobe University

Presenter: Solomon Opare

Discussant: Eltayyeb Al-fakir Al rabab’a

16:00 “Corporate Carbon Performance and Cost of Debt: Evidence from Asia-Pacific Countries” Eltayyeb Al-fakir Al rabab’a*, Afzalur Rashid*, Syed Shams* * University of Southern Queensland Presenter: Eltayyeb Al-fakir Al rabab’a

Discussant: Solomon Opare

https://vuw.zoom.us/j/92391775888?pwd=TTdGaFk4R1ZSVGNIQjVXY1pmWkNGUT09

https://teams.microsoft.com/l/meetup-join/19%3ameeting_OTZiZjVlYzktZTE0Ni00NDFkLWE0NjQtOTA2MTA1ODhlNmQ4%40thread.v2/0?context=%7b%22Tid%22%3a%225e022ca1-5c04-4f87-8db7-d588726274e3%22%2c%22Oid%22%3a%22a1dcb172-f858-43de-b11a-8a1193d67896%22%7d


16:30 “Carbon Emission Mitigation and Technical Progress: An Industry Comparison Analysis” Larry Li* *RMIT University Presenter: Larry Li

Discussant: Sandip Dhole

17:00 “Does Competitive Corporate Culture Affect Climate Change Disclosures? Evidence from Australia” Sudipta Bose*, Sandip Dhole**, Sagarika Mishra*** *University of Newcastle, **Monash University, ***Deakin University Presenter: Sandip Dhole

Discussant: Larry Li

4.10 Corporate Governance [VI] Host: Deakin University / Session Chair: Ning Gong


15:30 “Risk committees, business strategy and cost of debt’ Thusitha Dissanayake*, Prem Puwanenthiren**, Sutha Kanapathippillai* *Deakin University, **University of Westminster Presenter: Thusitha Dissanayake

Discussant: Samuel Jebaraj Benjamin

16:00 “Social Media Sentiments and Firm Value” Samuel Jebaraj Benjamin*, Pallab Biswas**, Murugesh Arunachalam*, Srikamaladevi Marathamuthu* * University of Waikato, ** University of Otago Presenter: Samuel Jebaraj Benjamin

Discussant: Thusitha Dissanayake

16:30 “Shareholder Litigation, Workplace Safety Investment, and Corporate Covid-19 Risk Exposure and Management” Ning Gong*, Lixiong Guo**, Zhiyan Wang** *Deakin University, **University of Alabama Presenter: Ning Gong

Discussant: Feng Chen

17:00 “From self-entertainment to be appreciated: How does social media transfer talent to business?” Feng Chen*, Jian Ding**, Mochou Li***, Bingqing Wang*** *City University of Hong Kong, ** Tianjin University of Science and Technology, ***Donghua University Presenter: Feng Chen

Discussant: Ning Gong

4.11 Corporate Finance and Governance [IV] Host: La Trobe University / Session Chair: Ishaq Bhatti


15:30 “Independent Directors’ Reputation Incentives and Firm Performance” Quyen Le*, Aliraza Vafaei, Kamran Ahmed*, Shawgat Kutubi *La Trobe University Presenter: Quyen Le

Discussant: Xiaohui Liu

16:00 “Performance Goals and Real Earnings Management: Evidence from Compensation Contracts” Xiu-Ye Zhang*, Lijuan Zhang*, Xiaohui Liu** * Australian National University, ** The University of Adelaide Presenter: Xiaohui Liu

Discussant: Quyen Le

16:30 “Intra-Industry Performance Ranking and Relative Performance Evaluation” Xiaohua Wu*, Yuyu Zhang*, Elsabeth Sinnewe * * Queensland University of Technology Presenter: Yuyu Zhang

Discussant: Fan Yu

17:00 “Does common ownership affect industry output and prices?” Fan Yu*, Sigitas Karpavičius** *Macquarie University, **The University of Adelaide Presenter: Fan Yu

Discussant: Yuyu Zhang

4.12 Asset Pricing [XI]




Host: RMIT University / Session Chair: Xiaolu Hu

LINK CLICK HERE

15:30 “Is Downside Risk Priced in Cryptocurrency Market?” Victoria Dobrynskaya* * National Research University Higher School of Economics Presenter: Victoria Dobrynskaya

Discussant: Yahua Xu

16:00 “Intraday Return Predictability in the Crude Oil Market: The Role of EIA Inventory Announcements” Ivan Indriawan*, Donald Lien**, Zhuzhu Wen***, Yahua Xu**** *Auckland University of Technology, **University of Texas – San Antonio, ***Tsinghua University, **** Central University of Finance and Economics Presenter: Yahua Xu

Discussant: Victoria Dobrynskaya

16:30 “Investor Sentiment and Stock Market Anomalies in Australia” Xinyue Zhang*, Emawtee Bissoondoyal-Bheenick**, and Angel Zhong** *Deakin University, **RMIT University Presenter: Xinyue Zhang

Discussant: Najma Ali Soomro

17:00 “Impact of Optimistic Bitcoin Sentiments Index on US Islamic and Conventional Indices” Najma Ali Soomro*, Dr. Suresh Kumar Oad Rajput* and Ishfaque Ahmed Soomro* * Sukkur IBA University Presenter: Najma Ali Soomro

Discussant: Xinyue Zhang

4.13 Corporate Finance and Governance [V] Host: Macquarie University / Session Chair: Cynthia Cai Zoom Link: https://macquarie.zoom.us/j/83014513047

15:30 “Filling the Gap and Moving Forward: A Review of Analytical and Empirical Studies of Disclosure and Cost of Capital” Cynthia CAI * *Macquarie University Presenter: Cynthia CAI

Discussant: Pradeep Kaur

16:00 “Application of Tokenism, Critical Mass Theory and Impact of Companies (Amendment) Act, 2013 on Gender Heterogeneity” Dr. Poonam Mahajan*, Pradeep Kaur* *Guru Nanak Dev University Presenter: Pradeep Kaur

Discussant: Cynthia CAI

16:30 “Large government shareholders and derivative use efficiency: Evidence from Chinese local state-owned enterprises” Huimin Guo*, Zheyao Pan*, Gary Gang Tian* *Macquarie University Presenter: Huimin Guo

Discussant: Sutharson Kanapathippillai

17:00 “Board Sub-Committee Effectiveness and Directors’ Attraction and Attrition: Australian Evidence” Sutharson Kanapathippillai*, Premkanth Puwanenthiren**, Dessalegn Mihret***, Man Dang**** *Deakin University, **Westminister University, ***RMIT University, ****University of Economics, The University of Danang Presenter: Sutharson Kanapathippillai

Discussant: Huimin Guo

4.14 Corporate Finance and Covid Host: Monash University / Session Chair: Jin Yu

Zoom Link: https://monash.zoom.us/j/89927216045?pwd=N3IzSUYxakZYcDFDTDJVVnBoVDlhdz09

15:30 “Political connectedness and stock price reactions to the COVID-19 outbreak” Xinwei Fang*, Tianpei Luo*, Dane Etheridge* *Curtin University Presenter: Dane Etheridge

Discussant: Xiaoyang Li

https://aus01.safelinks.protection.outlook.com/ap/t-59584e83/?url=https%3A%2F%2Fteams.microsoft.com%2Fl%2Fmeetup-join%2F19%253ameeting_ZjkxYWUxY2MtYjgwMy00ZDUzLWIxN2YtMWQxZGNiOTMwZjIz%2540thread.v2%2F0%3Fcontext%3D%257b%2522Tid%2522%253a%2522d1323671-cdbe-4417-b4d4-bdb24b51316b%2522%252c%2522Oid%2522%253a%25220947202e-cb7d-4977-89e4-9105a49b220a%2522%257d&data=04%7C01%7Cangel.zhong%40rmit.edu.au%7Cfe5d6fc8b213484099d108d8f000d955%7Cd1323671cdbe4417b4d4bdb24b51316b%7C0%7C0%7C637523233723514794%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=G4gfMxlKo136qkX4IpzVq5OQPyv2mwz%2FghYxIhzJm8o%3D&reserved=0


https://monash.zoom.us/j/89927216045?pwd=N3IzSUYxakZYcDFDTDJVVnBoVDlhdz09


16:00 “Do market-wide circuit breakers calm markets or panic them? Evidence from the COVID-19 pandemic” Xiaoyang Li*, Wenying Yao * *Deakin University Presenter: Xiaoyang Li

Discussant: Dane Etheridge

16:30 “Macroeconomic Determinants of Loan Delinquencies: Evidence from the US Peer-to-Peer Lending Market” Asror Nigmonov*, Syed Shams*, Khorshed Alam * University Southern Queensland Presenter: Asror Nigmonov

Discussant: Ke Tang

17:00 “Asymmetric Cross-side Network Effects on Financial Platforms: Theory and Evidence from Marketplace Lending” Lin William Cong*, Ke Tang**, Danxia Xie**, Qi Miao*** * Cornell University Samuel Curtis Johnson Graduate School of Management, ** Tsinghua University, *** Nielsen Company Presenter: Ke Tang

Discussant: Asror Nigmonov

4.15 Asset Pricing [XII] Host: Victoria University of Wellington / Session Chair: Hai Lin

Zoom Link: https://vuw.zoom.us/j/99500531048

15:30 “Trade Links and Return Predictability: the Australian Evidence” Miao Yu* *RMIT University Presenter: Miao Yu

Discussant: Eric K. M. Tan

16:00 “Crowding: Evidence from Fund Managerial Structure” Campbell R. Harvey*, Yan Liu**, Eric K. M. Tan***, Min Zhu*** *Duke University, **Purdue University, ***University of Queensland Presenter: Eric K. M. Tan

Discussant: Miao Yu

16:30 “On the Effects of Continuous Trading” Ivan Indriawan*, Roberto Pascual**, Andriy Shkilko*** *Auckland University of Technology, **University of the Balearic Islands, ***Wilfrid Laurier University Presenter: Ivan Indriawan

Discussant: Kai Li

17:00 “Portfolio Selection Under Time Delays: A Piecewise Dynamic Programming Approach” Kai Li*, and Jun Liu** *Macquarie University, **University of California San Diego Presenter: Kai Li

Discussant: Ivan Indriawan

4.16 Corporate Finance [III] Host: University of South Australia / Session Chair: Damien Wallace

Zoom Link: https://unisa.zoom.us/j/87429229308?pwd=THJnbWhmQ285NlFpWDRpemRhZzc0QT09

15:30 “Does employee-friendly workplace reduce insider trading profitability?” Dewan Rahman*, Muhammad Kabir**, Hussain Huda***, and Barry Oliver* *University of Queensland, ** Lakehead University, *** University of Dhaka Presenter: Muhammad Kabir

Discussant: Wen Hua Sharpe

16:00 “Nurturing Overconfidence: The Impact of CEO Overconfidence on Customer Satisfaction and Firm Performance” Wen Hua Sharpe*, Phong Minh Nguyen*, Sisira Colombage* *Federation University Australia Presenter: Wen Hua Sharpe

Discussant: Hussain Huda

16:30 “The Impact of Natural Disasters on Bank Performance and the Moderating Role of Financial Integration” Dung Thuy Thi Nguyen*, Ivan Diaz-Rainey**, Helen Roberts**, Minh Le*** *Academy of Finance, Hanoi, Vietnam, **University of Otago, ***Queensland University of Technology Presenter: Dung Thuy Thi Nguyen

Discussant: Priyantha Mudalige


https://unisa.zoom.us/j/87429229308?pwd=THJnbWhmQ285NlFpWDRpemRhZzc0QT09


17:00 “Under the microscope: Trade initiation activities around earnings and takeover announcements in a market with continuous disclosure” Priyantha Mudalige* and Petko S. Kalev** *Curtin University, **La Trobe University Presenter: Priyantha Mudalige

Discussant: Dung Thuy Thi Nguyen

4.17 Finance and governance Host: Auckland University of Technology / Session Chair: Ting Yang

LINK CLICK HERE

15:30 “Moving to a World Beyond p-value < 0.05: A Guide for Business and Finance Researchers” Jae H. Kim * * La Trobe University Presenter: Jae H. Kim

Discussant: Wenjun Wang

16:00 “You Scratch My Back and I Will Scratch Yours: Evidence from Relationship-based Bids in the IPO Pricing” Yanan Li*, Wenjun Wang** * Beijing Normal University, **Agricultural Bank of China Presenter: Wenjun Wang

Discussant: Jae H. Kim

16:30 “Systemic Risk Spillover of financial institutions in China: a DCC-GARCH approach” Ping Zhang* and Zhuofan Pei* * School of Finance, Capital University of Economics and Business, Beijing, China. Presenter: Ping Zhang

Discussant: Jianping Pan

17:00 “How Property Rights Affect Firm’s Labor Investment Efficiency? Evidence From A Property Law Enactment” Jianping Pan*, Rui Fan* *Southeast University Presenter: Jianping Pan

Discussant: Ping Zhang

4.18 Funds Management [III] Host: Macquarie University / Session Chair: Lei Shi


15:30 “Political risk and portfolio performance: Implications for Shariah-compliant investors” Muhammad Wajid Raz*, Muhammad Tahir Suleman**, Adam Zarem*** * Shaheed Benazir Bhutto University Sheringal, ** University of Otago, *** United Arab Emirates & Poznan University of Economics and Business Presenter: Muhammad Wajid Raz

Discussant: Dan Daugaard

16:00 “Do the Principles for Responsible Investing activate fund flows to socially responsible investing? This looks like a job for system generalized method of moments” * Dan Daugaard * Centre for Corporate Sustainability and Environmental Finance, Macquarie Business School Presenter: Dan Daugaard

Discussant: Muhammad Wajid Raz

16:30 “Portfolio Management Services: Time for Regulatory Framework on Incentive Fees” Vaibhav Aggarwal* *Apeejay School of Management Presenter: Vaibhav Aggarwal

Discussant: Abbas Hejri

17:00 “Loss aversion trumps social trust in times of financial crisis” Abbas Hejri* and Dan Daugaard * *Centre for Corporate Sustainability and Environmental Finance, Macquarie Business School Presenter: Dan Daugaard

Discussant: Vaibhav Aggarwal

https://teams.microsoft.com/l/meetup-join/19%3ameeting_NjFiMWY1YTItNDU5ZC00ZmU3LThhMTEtMTE3NDcyNzBmYjBh%40thread.v2/0?context=%7b%22Tid%22%3a%225e022ca1-5c04-4f87-8db7-d588726274e3%22%2c%22Oid%22%3a%22681f25c3-d4c3-47d8-a1ab-006884405f80%22%7d



SESSION 4.19 at 15:30 – 17:30 ON 9 APRIL HAS BEEN MOVED TO THURSDAY, 8 APRIL, 16:15 – 18:15 4.19 Finance and Trading

Host: La Trobe University / Session Chair: Yun Zhou Zoom Link: https://latrobe.zoom.us/j/81848028656?pwd=QW0vNWJKUEdlYm9UZ0dacXRCM2VIUT09

15:30 “Venture Capital and Private Equity-backed firms at the beginning: Effect on firm financial policies” Michael O’Connor Keefe*, Huyen Nguyen* Victoria University of Wellington Presenter: Huyen Nguyen

Discussant: Jude Edeigba

16:00 “Does IAS 12 Adoption Reduces the GAP Associated with Accounting and Tax Regulations?” Jude Edeigba*, Ernest Gyapong**, Fawad Ahmad* * Massey University, ** Zayed University Presenter: Jude Edeigba

Discussant: Huyen Nguyen

16:30 “Does Algorithmic Trading Affect Analyst Research Production?” Pawel Bilinski*, Irene Karamanou**, Anastasia Kopita***, Marios Panayides** *Cass Business School, City, University of London, **University of Cyprus, ***Warwick Business School Presenter: Pawel Bilinski

Discussant: Yuanto Kusnadi

17:00 “Insider Trading Restrictions and Real Activities Earnings Management: International Evidence” Fang Hu*, Yuanto Kusnadi**, Jiwei Wang**, Yujie Wang*** *Griffith University, **Singapore Management University, ***Central South University Presenter: Yuanto Kusnadi

Discussant: Pawel Bilinski

Session on Conference Special Issues Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021

17:30 - 18:00 Session on Conference Special Issues: Pacific Basin Finance Journal and Accounting and Finance Professor Balasingham Balachandran Associate Professor Huu Nhan Duong Dr Lily Nguyen

30 min break

Closing Address and Thanks Zoom Link https://latrobe.zoom.us/j/88396648452

Passcode: fmcg2021

18:30 - 20:30 Presentation of Lifetime Achievement Awards and Best Paper Awards Closing Address and Congratulations to Awardees Professor Simon Evans, Pro Vice-Chancellor, College of Arts, Social Sciences and Commerce, La Trobe University Thanking address by Conference Chair Professor Balasingham Balachandran Presentation of Life-time achievement awards o Presentation of Conference Best Paper Awards o Contribution of CFA Society to the conference: Ms Inna Zorina, President

of CFA Society Melbourne o Presentation of PhD Best Paper Awards o PhD symposium Chair

Moderator: Mr Greg Jamieson, Head of Department, Economics, Finance and Marketing, La Trobe Business School

END OF CONFERENCE

https://latrobe.zoom.us/j/81848028656?pwd=QW0vNWJKUEdlYm9UZ0dacXRCM2VIUT09




Hosts and Sponsors

College of Arts, Social Sciences and Commerce La Trobe University

Bundoora 3086 www.latrobe.edu.au/business

http://www.latrobe.edu.au/business

INNOVATIVE RESPONSIBLE ENGAGED

Documents

Transcript of INNOVATIVE RESPONSIBLE ENGAGED