PhD Forum

A world class PhD Forum was held on the 15 December 2012 and 16 December 2013 at the University of New South Wales and Shangri-la Hotel, as part of the Australasian Finance and Banking Conference. This Forum is organised by the School of Banking and Finance and the IGF.

The one day forum will offer 10 students the unique opportunity to present their papers and have their work discussed by distinguished members of the finance profession.

The students will also have the opportunity to receive feedback and comments related to their research work. Throughout the seminar, students will take valuable advice from leading scholars on issues such as career development and discuss recent developments in finance literature with fellow students and faculty members.

The School of Banking and Finance provides financial support to all the PhD candidates whose papers were presented at this Forum. The Forum provided an opportunity for selected PhD students to present their research to a panel of leading academics.

PhD Forum 2013 Winners:

PhD Forum – 3rd Prize:
Bribes and Firm Value - Evidence from Anti-Bribery Regulation
Stefan Zeume, INSEAD

PhD Forum – 2nd Prize:
A Market-Based Funding Liquidity Measure and Seeing the Unobservable from the Invisible: The Role of CO2 in Measuring Consumption Risk
Zhuo Chen, Northwestern University
Andrea Lu, Northwestern University

PhD Forum – 1st Prize:
Soft Information in the Subprime Mortgage Market
Kanis Saengchote, Northwestern University

PhD Forum 2012 Winners:

PhD Forum – 3rd Prize:
LIBOR’s Poker: Interbank Borrowing Costs and Strategic Reporting
Jiakai Chen, University of California, Berkeley

PhD Forum – 2nd Prize:
Auctions of Real Options: Security Bids, Moral Hazard and Strategic Timing
Lin William Cong, Stanford Graduate School of Business

PhD Forum – 1st Prize:
Durable Matters? An Alternative Measure of Consumption Risk
Rui Cui, University of Chicago

PhD Forum Program 2013

Keynote Speech:
Developing and Enhancing Research Capacity

Ekkehart Boehmer, EDHEC
Ron Masulis, University of New South Wales
Avanidhar Subrahmanyam, UCLA

Banks’ Equity Stakes and Lending: Evidence from a Tax Reform
Bastian von Beschwitz, INSEAD
Daniel Foos, Deutsche Bundesbank
Discussant: Ron Masulis, University of New South Wales

Limited Market Access and Funding Liquidity
Zhuo Chen, Northwestern University
Andrea Lu, Northwestern University
Discussant: Avanidhar Subrahmanyam, UCLA

Soft Information in the Subprime Mortgage Market
Kanis Saengchote, Northwestern University
Discussant: Hao Zhou, Tsinghua University

Bribes and Firm Value - Evidence from Anti-Bribery Regulation
Stefan Zeume, INSEAD
Discussant: Ferdinand Gul, Monash University

The Power of Asking Questions: Resolving Financial Market Rumors through Public Inquiries
Seongkyu Gilbert Park, University of Chicago
Discussant: Richard Roll, UCLA

Adjustable Service Flow of Durable Goods: Theory and Empirics
Zhuo Chen, Northwestern University
Andrea Lu, Northwestern University
Discussant: Deborah Lucas, MIT

Investment, Idiosyncratic Risk, and Growth Options
Shujing Wang, Hong Kong University of Science & Technology
Chu Zhang, Hong Kong University of Science & Technology
Discussant: Chuan-Yang Hwang, Nanyang Technological University

Do You Have to Be First? Slow Price Adjustment in After-Hours Trading
Jiasun Li, University of California, Los Angeles
Discussant: Ekkehart Boehmer, EDHEC

Do Firms Hedge Optimally? Evidence from an Exogenous Governance Change
Sterling Huang, INSEAD
Urs Peyer, INSEAD
Benjamin Segal, INSEAD
Discussant: Peter Swan, University of New South Wales

PhD Forum Program 2012

Keynot  Address:
Professor Viral Acharya, New York University

Do Banks Monitor Corporate Decisions? - Evidence from Bank Financing of Mergers and Acquisitions
Sheng Huang, Singapore Management University
Ruichang Lu, National University of Singapore
Anand Srinivasan, National University of Singapore
Discussant: Professor Anthony Saunders, New York University

The Term Structure of Equity Returns: Risk or Mispricing?
Michael Weber, University of California, Berkeley
Discussant: Professor Jin-Chuan Duan, National University of Singapore

Auctions of Real Options: Security Bids, Moral Hazard and Strategic Timing
Lin William Cong,Stanford Graduate School of Business
Discussant: Professor Dmitriy Kvasov, University of Adelaide

The Role of Domestic Industries in Foreign Portfolio Decisions
David Schumacher,INSEAD
Discussant: Professor Bruno Solnik, HKUST

Do Institutions Influence Corporate Behavior? An Analysis of Corporate Social Responsibility
Chuan-Yang Hwang, Nanyang Technological University
Sheridan Titman, University of Texas, Austin
Ying Wang, Nanyang Technological University
Discussant: Professor Jarrad Harford, University of Washington

Higher-Moment Asset Pricing and Allocation in a Heterogeneous Market Equilibrium
Qunzi Zhang, Swiss Finance Institute
Discussant: Professor Robert Engle, New York University

Durable Matters? An Alternative Measure of Consumption Risk
Rui Cui, University of Chicago
Discussant: Professor Viral Acharya, New York University

Investors' Attention and Stock Covariation: Evidence from Google Sport Searches
Daniel Schmidt, INSEAD
Discussant: Professor Terrance Odean, University of California, Berkeley

International Instability and Asset Pricing
Zhuo Chen, Northwestern University
Andrea Lu, Northwestern University
Zhuqing Yang, Northwestern University
Discussant: Professor Geert Bekaert, Columbia University

LIBOR’s Poker: Interbank Borrowing Costs and Strategic Reporting
Jiakai Chen, University of California, Berkeley
Discussant: Professor Chu Zhang, HKUST