World Finance Conference

Santiago do Chile, July 24-26, 2019

Opening Session

Room: Auditorium
Date/Time: 2019-07-24-09:15 10:00
Coffee Break

Room: Restaurant
Date/Time: 2019-07-24-10:00 10:30
Session: 1-Corporate Governance

Room: 1
Date/Time: 2019-07-24-10:30 12:00
Chair: Rajesh Aggarwal - Northeastern University (United States)
Paper: NON-INTEREST INCOME AND BANK RISK:THE ROLE OF REGULATION, CONCENTRATION, AND CORPORATE GOVERNANCE
Authors:
Hsiao-Jung Chen - Southern Taiwan University of Science and Technology (Taiwan)
I Gusti Agung Musa Budidarma - Southern Taiwan University of Science and Technology (Indonesia)
Presenter: Hsiao-Jung Chen - Southern Taiwan University of Science and Technology (Taiwan)

Discussant: Raffi Garcia - Rensselaer Polytechnic Institute (United States)

Paper: Incentives and Competition in the Airline Industry
Authors:
Rajesh Aggarwal - Northeastern University (United States)
Carola Schenone - University of Virginia (United States)
Presenter: Rajesh Aggarwal - Northeastern University (United States)

Discussant: Oliver Rui - CEIBS (China)

Paper: Linguistic Complexity and Cost of Equity Capital
Authors:
Aaron Gilbert - AUT University (New Zealand)
Presenter: Aaron Gilbert - AUT University (New Zealand)

Discussant: Hsiao-Jung Chen - Southern Taiwan University of Science and Technology (Taiwan)

Session: 2-Market Efficiency and Asset Pricing

Room: 2
Date/Time: 2019-07-24-10:30 12:00
Chair: Chanaka Edirisinghe - Rensselaer Polytechnic Institute (United States)
Paper: Intra-Industry and Inter-Industry Anomalies
Authors:
Yufeng Han - University of North Carolina at Charlotte (United States)
Yifeng Zhu - Central University of Finance and Economics (China)
Lei Gao - Iowa State University (United States)
Presenter: Yufeng Han - Univ. North Carolina -Charlotte (United States)

Discussant: Nikolas Topaloglou - IPAB Business School and Athens University of Economics and Business (Greece)

Paper: Deleveraging Large Funds under Market Impact: Model and Solution
Authors:
Chanaka Edirisinghe Edirisinghe - Rensselaer Polytechnic Institute (United States)
Jaehwan Jeong - Radford University (United States)
Presenter: Chanaka Edirisinghe - Rensselaer Polytechnic Institute (United States)

Discussant: John Adams - University of Texas at Arlington (United States)

Paper: Capital Asset Pricing Models Based on Economic Indices of Riskiness
Authors:
Rachel Huang - National Central University (Taiwan)
Larry Tzeng - National Taiwan University (Taiwan)
Pai-Ta Shih - National Taiwan University (Taiwan)
Yi-Ting Chen - Academia Sinica (Taiwan)
Presenter: Rachel Huang - National Central University (Taiwan)

Discussant: Chanaka Edirisinghe - Rensselaer Polytechnic Institute (United States)

Session: 3-Mutual Funds

Room: 3
Date/Time: 2019-07-24-10:30 12:00
Chair: Hsiu-lang Chen - University of Illinoise at Chicago (United States)
Paper: Why Not Short ETFs? A Study of ETF Investment by Mutual Funds
Authors:
Hsiu-lang Chen - University of Illinois at Chicago (United States)
Presenter: Hsiu-lang Chen - University of Illinoise at Chicago (United States)

Discussant: Jimmy Yang - Oregon State University (United States)

Paper: The Effects of Fund Flows on Corporate Investment: A Catering View
Authors:
Jose Faias - UCP (Portugal)
Nelson Camanho - Queen Mary University of London (United Kingdom)
Presenter: Jose Faias - Universidade Católica Portuguesa (Portugal)

Discussant: Hsiu-lang Chen - University of Illinoise at Chicago (United States)

Paper: An Investigation into Vanguard's Mutual Fund Shares and Exchange Traded Fund Shares on the Same Portfolio
Authors:
Ravi Shukla - Syracuse University (United States)
Presenter: Ravi Shukla - Syracuse University (United States)

Discussant: Chandrasekhar Krishnamurti - University of South Australia (Australia)

Session: 4-Banking and Financial Institutions

Room: 4
Date/Time: 2019-07-24-10:30 12:30
Chair: Raghavendra Rau - University of Cambridge (United States)
Paper: Loan to value caps and government-backed mortgage insurance: Loan-level evidence from Dutch residential mortgages
Authors:
Leo de Haan - De Nederlandsche Bank (Netherlands)
Mauro Mastrogiacomo - De Nederlandsche Bank (Netherlands)
Presenter: Leo de Haan - De Nederlandsche Bank / Central Bank of Aruba (Netherlands)

Discussant: Dennis Olson - Zayed University (United Arab Emirates)

Paper: What were they thinking? Firm`s expectations on the availability of external finance
Authors:
Ioannis Ganoulis - European Central Bank (Germany)
Annalisa Ferrando - European Central Bank (Germany)
Carsten Preuss - European Central Bank (Germany)
Presenter: Ioannis Ganoulis - European Central Bank (Germany)

Discussant: Ania Zalewska - University of Bath (United Kingdom)

Paper: Law, trust, and the development of crowdfunding around the world
Authors:
Raghavendra Rau - University of Cambridge (United Kingdom)
Presenter: Raghavendra Rau - University of Cambridge (United States)

Discussant: Elise Brezis - Bar-Ilan University (Israel)

Paper: Estimating The Information Component in Switching Costs: A Structural Approach
Authors:
Santiago Truffa - Tulane University (United States)
Sheisha Kulkarni - University of Virginia (United States)
Presenter: Santiago Truffa - ESE Business School (Chile)

Discussant: Andrea Zaghini - European Central Bank (Germany)

Session: 5-Foreign Direct Investment

Room: 5
Date/Time: 2019-07-24-10:30 12:00
Chair: Evangelos Giouvris - Royal Holloway, University of London (United Kingdom)
Paper: FIRM SURVIVAL ANALYSIS: CULTURAL DISTANCE, COUNTRY RISK AND ENTRY MODE
Authors:
Chuang Wang - Royal Holloway University of London (United Kingdom)
Evangelos Giouvris - Royal Holloway University of London (United Kingdom)
Presenter: Evangelos Giouvris - Royal Holloway, University of London (United Kingdom)

Discussant: Ramona Rupeika-Apoga - University of Latvia (Latvia)

Paper: Media Corruption Perceptions and US Foreign Direct Investment
Authors:
Mohammad Refakar - Université de Sherbrooke (Canada)
Jean-Pierre Gueyie - Université du Québec à Montréal (Canada)
Presenter: Mohammad Refakar - Université de Sherbrooke (Canada)

Discussant: Sofia García Gamez - Universidad Autónoma de Madrid (Spain)

Paper: Planetary Boundaries: An environmental measurement for a dynamic and endogenous global EKC
Authors:
Roxana Pincheira - The University of Queensland (Chile)
Tom Smith - The University of Queensland (Australia)
Martina Linnenluecke - Macquarie Universtiy (Australia)
Presenter: Roxana Pincheira - Universidad Austral de Chile (Chile)

Discussant: Evangelos Giouvris - Royal Holloway, University of London (United Kingdom)

Lunch

Room: Restaurant
Date/Time: 2019-07-24-12:00 13:30
Keynote Speaker

Room: Auditorium
Date/Time: 2019-07-24-13:30 14:30
PRESENTATION OF THE WFC 2020 - MALTA

Room: Auditorium
Date/Time: 2019-07-24-14:30 14:45
Session: 6-Banking and Financial Institutions

Room: 1
Date/Time: 2019-07-24-14:45 16:45
Chair: Dennis Olson - Zayed University (United Arab Emirates)
Paper: ?The smile of TCR?. Banks? solvency and restructuring costs in the European banking industry
Authors:
Malgorzata Iwanicz Drozdowska - Warsaw School of Economics (Poland)
Maciej Karczmarczyk - ING Bank (Netherlands)
Presenter: Malgorzata Iwanicz Drozdowska - Warsaw School of Economics (Poland)

Discussant: Dianne Thomson - Deakin University (Australia)

Paper: Market power and risk-taking of banks: New consolidating evidence from emerging economies
Authors:
Bang Nam Jeon - Drexel University (United States)
Ji Wu - Southwestern University of Finance and Economics (China)
Presenter: Bang Jeon - Drexel University (United States)

Discussant: Javier Pereira - Hamilton College (United States)

Paper: Increasing the Flexibility of the Translog Approximation to Reduce Differences between SFA and DEA Estimates of Profit Efficiency for MENASA Banks
Authors:
Dennis Olson - Zayed University (United Arab Emirates)
Taisier Zoubi - American University of Sharjah (United Arab Emirates)
Presenter: Dennis Olson - Zayed University (United Arab Emirates)

Discussant: Cecilia Marchesi - Bocconi University (Italy)

Paper: The Revolving Door, State Connections, and Inequality of Influence in the Financial Sector
Authors:
Elise Brezis - Bar-Ilan University (Israel)
Presenter: Elise Brezis - Bar-Ilan University (Israel)

Discussant: Claire Economidou - University of Piraeus (Greece)

Session: 7-Interest Rates

Room: 2
Date/Time: 2019-07-24-14:45 16:15
Chair: Yves Rakotondratsimba - ECE Graduate School of Engineering (France)
Paper: Market News Co-Moments and Cross Section of Stock Returns
Authors:
Girijasankar Mallik - Western Sydney University (Australia)
Reza Mohammed - Western Sydney University (Australia)
Presenter: Girijasankar Mallik - Western Sydney University (Australia)

Discussant: Gustavo Araujo - Banco Central do Brasil and IBMEC-Rio (Brazil)

Paper: Bond sensitivities under large shifts of the interest rates
Authors:
Yves Rakotondratsimba - ECE Graduate School of Engineering (France)
Souad LAJILI JARJIR - University Paris-Est (France)
Presenter: Yves Rakotondratsimba - ECE Graduate School of Engineering (France)

Discussant: Jeremy Penn - GSA Capital (United Kingdom)

Paper: Breakeven Inflation Rate Estimation: An Alternative Approach Considering Indexation Lag and Seasonality
Authors:
Gustavo Araujo - Central Bank of Brazil (Brazil)
Flavio Val - Central Bank of Brazil (Brazil)
Presenter: Gustavo Araujo - Banco Central do Brasil and IBMEC-Rio (Brazil)

Discussant: Nikolaos Milonas - National and Kapodistrian University of Athens (Greece)

Session: 8-International Finance

Room: 3
Date/Time: 2019-07-24-14:45 16:15
Chair: Svetlana Saksonova - University of Latvia (Latvia)
Paper: National Culture and Cash Holdings Management
Authors:
Svetlana Orlova - The University of Tilsa (United States)
Presenter: Svetlana Orlova - University of Tulsa (United States)

Discussant: Arlos Risden Junior - Universidade Estadual do Oeste do Paraná - UNIOESTE (Brazil)

Paper: An Empirical Investigation of the Factors that affect Share Price Deviations: The Case of the FTSE-100 Index
Authors:
Stella Spilioti Spilioti - Athens University of Economics and Business (Greece)
Presenter: Styliani Spilioti - Athens University of Economics and Business (Greece)

Discussant: Luiz Eduardo Gaio - University of Campinas (Brazil)

Paper: THE HOLDING COMPANIES IN THE SPANISH CORPORATE TAX LEGISLATION: a theoretical-empirical study
Authors:
Gilberto Cardenas Cardenas - Universidad Autónoma de Madrid (Spain)
Sofía García Gamez - Universidad Autónoma de Madrid (Spain)
Alvaro Salas Suarez - Universidad Autónoma de Madrid (Spain)
Presenter: Gilberto Cardenas Cardenas - Universidad Autonoma de Madrid (Spain)

Discussant: Roxana Pincheira - Universidad Austral de Chile (Chile)

Session: 9-Asset Pricing

Room: 4
Date/Time: 2019-07-24-14:45 16:15
Chair: Tai Ma - National Sun Yat-sen University (Taiwan)
Paper: Re-assessing Stock Market Anomalies Using a Stochastic Spanning Framework
Authors:
Nikolas Topaloglou - IPAG, Athens University of Economics and Business (Greece)
George Chalamandaris - Athens University of Economics and Business (Greece)
Spyros Pagratis - Athens University of Economics and Business (Greece)
Presenter: Nikolas Topaloglou - IPAB Business School and Athens University of Economics and Business (Greece)

Discussant: Rachel Huang - National Central University (Taiwan)

Paper: Rational or Irrational? A Comprehensive Study of Stock Market Crashes
Authors:
Tai Ma - National Sun Yat-Sen University (Taiwan)
Kuo Hsi Lee - National Sun Yat-Sen University (Taiwan)
Presenter: Tai Ma - National Sun Yat-sen University (Taiwan)

Discussant: Gizelle Willows - University of Cape Town (South Africa)

Paper: Urban Density and Firms? Stock Returns
Authors:
Mahsa Memarian - INCAE Business School (Costa Rica)
Carles Vergara-Alert - IESE Business School (Spain)
Presenter: Mahsa Memarian - INCAE Business School (Costa Rica)

Discussant: Yufeng Han - Univ. North Carolina - Charlotte (United States)

Session: 10-Corporate Governance

Room: 5
Date/Time: 2019-07-24-14:45 16:15
Chair: Prabakaran Sellamuthu - Pontificia Universidad Javeriana Cali (Colombia)
Paper: Share pledging, payout policy, and the value of cash holdings
Authors:
Yu-Chun Wang - Ming Chuan University (Taiwan)
Robin K. Chou - National Chengchi University (Taiwan)
J. Jimmy Yang - Oregon State University (United States)
Presenter: Yu-Chun Wang - Ming Chuan University (Taiwan)

Discussant: Ken Yook - Johns Hopkins University (United States)

Paper: Corruption and governance in Latin America: estimation of a panel data model
Authors:
ALVARO ANTONIO SALAS SUAREZ - UAM (Spain)
SOFIA GARCIA GAMEZ - UAM (Spain)
GILBERTO CARDENAS CARDENAS - UAM (Spain)
Presenter: Sofia García Gamez - Universidad Autónoma de Madrid (Spain)

Discussant: Christa Hangl - University of Applied Sciences Upper Austria (Austria)

Coffee Break

Date/Time: 2019-07-24-16:15 16:45
Session: 11-Portfolio Management and Perfromance Evaluation

Room: 1
Date/Time: 2019-07-24-16:45 18:15
Chair: Ania Zalewska - University of Bath (United Kingdom)
Paper: Saving with group or individual personal pension schemes: How much difference does it make?
Authors:
Ania Zalewska - University of Bath (United Kingdom)
Presenter: Ania Zalewska - University of Bath (United Kingdom)

Discussant: Elizabeth Bucacos - Banco Central del Uruguay (Uruguay)

Paper: A Study of ?Fossil Free? Equity Portfolio Performance
Authors:
Ken Yook - Johns Hopkins Carey Business School (United States)
Jeff Hooke - Johns Hopkins Carey Business School (United States)
Presenter: Ken Yook - Johns Hopkins University (United States)

Discussant: James Foye - University of Ljubljana (Slovenia)

Paper: Factor Investing in Brazil: Diversifying Across Factor Tilts and Allocation Strategies
Authors:
Alexandre Alles Rodrigues - IESEG School of Management (France)
Presenter: Alexandre Alles - IÉSEG School of Management (France)

Discussant: Carsten Rother - University of Hamburg, Invesco (Germany)

Session: 12-Financial Markets and Trading Costs

Room: 2
Date/Time: 2019-07-24-16:45 18:15
Chair: Daniel Makina - University of South Africa (South Africa)
Paper: THE IMPACT OF REGIONAL FINANCIAL INTEGRATION ON STOCK MARKET DEVELOPMENT: EVIDENCE FROM 8 SADC STOCK EXCHANGES
Authors:
Daniel Makina Makina - University of South Africa (South Africa)
Jonathan Tembo - National University of Science & Technology (Zimbabwe)
Presenter: Daniel Makina - University of South Africa (South Africa)

Discussant: Trishit Bandyopadhyay - TST Training and Research Services (India)

Paper: Breakthrough in financial markets: Low-cost strategies in finance industry
Authors:
stephane dubreuille - neoma business school (France)
stephane fourneaux - neoma business school (France)
Presenter: Stephane Dubreuille - Neoma Business School (France)

Discussant: Tarvo Vaarmets - TalTech (Estonia)

Paper: Influence of transaction atmosphere on the decision-making behavior of investors
Authors:
Christa Hangl - University of Applied Sciences Upper Austria (Austria)
Matthias Ortner - University of Applied Sciences Upper Austria (Austria)
Presenter: Christa Hangl - University of Applied Sciences Upper Austria (Austria)

Discussant: Jolana Stejskalova - Mendel university in Brno (Czech Republic)

Session: 13-Corporate Finance

Room: 3
Date/Time: 2019-07-24-16:45 18:15
Chair: Oliver Rui - CEIBS (China)
Paper: Capital Gains Tax, Venture Capital and Innovation in Start-ups
Authors:
Lora Dimitrova - University of Exeter (United Kingdom)
Sapnoti Eswar - University of Cincinnati (United States)
Presenter: Lora Dimitrova - University of Exeter (United Kingdom)

Discussant: Aaron Gilbert - AUT University (New Zealand)

Paper: Optimal financing of highly innovative projects under double moral hazard
Authors:
Yolanda Portilla - Universidad de Chile (Chile)
Gino Loyola - Universidad de Chile (Chile)
Presenter: Yolanda Portilla - Universidad de Chile (Chile)

Discussant: Viviana Fernandez - Universidad Adolfo Ibañez (Chile)

Paper: Financial Development, Trade Credit and Corporate Cash Holding: Cross-Country Analyses
Authors:
Oliver Rui - CEIBS (China)
Wenfeng Wu - Shanghai Jiaotong University (China)
Presenter: Oliver Rui - CEIBS (China)

Discussant: Leo de Haan - De Nederlandsche Bank / Central Bank of Aruba (Netherlands)

Session: 14-International Finance

Room: 4
Date/Time: 2019-07-24-16:45 18:15
Chair: Irena Vodenska - Boston University (United States)
Paper: Puzzles in the Argentinean Capital Market: Bonds beat Stocks
Authors:
Guillermo Dumrauf - Universidad del CEMA (Argentina)
Presenter: Guillermo Dumrauf - Universidad del CEMA (Argentina)

Discussant: Fernando Díaz - Universidad Diego Portales (Chile)

Paper: Currency Stability and Political and Economic Uncertainties
Authors:
Irena Vodenska Vodenska - Boston University (United States)
Marcel Kremer - University of Duisburg-Essen (Germany)
Alexander Becker - Boston University (United States)
H. Eugene Stanley - Boston University (United States)
Rudy Schaifer - University of Duisburg-Essen (Germany)
Presenter: Irena Vodenska - Boston University (United States)

Discussant: Erwin Hansen - Universidad de Chile (Chile)

Paper: The Origins of Financial Development: How the TseTse Fly Continues to Influence Modern Finance
Authors:
Jiafu An - University of Edinburgh (United Kingdom)
Wenxuan Hou - University of Edinburgh (United Kingdom)
Chen Lin - University of Hong Kong (Hong Kong)
Presenter: Wenxuan Hou - Shanghai Lixin University of Accounting and Finance / Uni of Edinburgh (China)

Discussant: Styliani Spilioti - Athens University of Economics and Business (Greece)

Session: 15-Market Efficiency and Anomalies

Room: 5
Date/Time: 2019-07-24-16:45 18:15
Chair: Luiz Eduardo Gaio - University of Campinas (Brazil)
Paper: Evaluating the Market efficiency using Asset Pricing Models ? A Case study of Indian State Owned Enterprises
Authors:
Ram Kumar Mishra - Institute of Public Enterprise, Hyderabad (India)
Pawan Avadhanam - Institute of Public Enterprise, Hyderabad (India)
Presenter: Pawan Kumar Avadhanam - Institute of Public Enterprise (India)

Discussant: Jose Dapena - UCEMA (Argentina)

Paper: Efficient or Adaptive Markets? A comparative analysis between developed and emerging countries
Authors:
Luiz Eduardo Gaio - University of Campinas (Brazil)
Pedro Vitor da Rocha - University of Campinas (Brazil)
Laura Pordeus Souza Campos - University of Campinas (Brazil)
Daniel Henrique Dario Capitani - University of Campinas (Brazil)
Gleison Lopes Fonseca - Universidad Politécnica de Cartagena (Spain)
Presenter: Luiz Eduardo Gaio - University of Campinas (Brazil)

Discussant: Amitabh Gupta - University of Delhi (India)

Paper: Unexpected Political Changes. State Owned Companies Versus Other Companies Listed on Warsaw Stock Exchange
Authors:
Blazej Podgórski - Kozminski University (Poland)
Presenter: Blazej Podgórski - Kozminski University (Poland)

Discussant: Girijasankar Mallik - Western Sydney University (Australia)

Session: 16-Phd Toturial Session
(PHD Toturial)

Room: 1
Date/Time: 2019-07-25-09:00 10:30
Chair: Fernando Díaz - Universidad Diego Portales (Chile)
Paper: Repurchases and Dividend Smoothing: Evidence for Dividend Signaling?
Authors:
Tamara Tigero - Universidad Adolfo Ibañez (Chile)
Presenter: Tamara Tigero - Universidad Adolfo Ibañez (Chile)


Paper: The impact of intangible assets on the enterprise's share and identification of the sector where the intangible assets is located
Authors:
Martin Kedron - Mendel Cniversity (Czech Republic)
Presenter: Martin Kedron - Mendel University in Brno (Czech Republic)


Paper: The Effects of Bankruptcy Reform: The Colombian Experience 1995 ? 2017 (Research Proposal)
Authors:
Oscar Guevara Arias - Universidad Adolfo Ibáñez (Chile)
Presenter: Oscar Guevara - Universidad Adolfo Ibáñez / Universidad Austral de Chile (Chile)


Paper: University Patents and Technology Transfer in Latin America: Determinant Factors for Licensing and Creating Spin-Offs
Authors:
LUIS FERNANDO RAMIREZ - UNIVERSIDAD DE LA SALLE (Colombia)
Presenter: Luis Fernando Ramirez - Universidad De La Salle (Colombia)


Session: 17-Market Efficiency and Anomalies

Room: 2
Date/Time: 2019-07-25-09:00 11:00
Chair: Yufeng Han - Univ. North Carolina - Charlotte (United States)
Paper: Market Stability with Machine Learning Agents
Authors:
Javier Pereira - Hamilton College (United States)
Christophre Georges - Hamilton College (United States)
Presenter: Javier Pereira - Hamilton College (United States)

Discussant: Carlos Perez - Universidad Diego Portales (Chile)

Paper: Stock Exchange Mergers and Risk Diversification
Authors:
joao vieito - Polytechnic Instiute of Viana do Castelo (Portugal)
Jens Henriksson - NASDAQ OMX Stockholm (Sweden)
Wing-Keung Wong - Asia University (Taiwan)
Wenjing Xie - Shanghai International Studies University (China)
Presenter: João Paulo vieito - Polythecnic Institute of Viana do Castelo (Portugal)

Discussant: Daniel Makina - University of South Africa (South Africa)

Paper: Varying Predictability of the Stock Market: Further Evidence from the S&P 500 Index
Authors:
Anthony Yanxiang Gu Gu - state university of new york, geneseo (United States)
Mansokku Lee - state university of new york, geneseo ()
Presenter: Yanxiang Gu - state university of new york, geneseo (United States)

Discussant: Brice Dupoyet - Florida International University (United States)

Paper: Momentum, Reversal, and the Firm Fundamental Cycle
Authors:
Yufeng Han - University of North Carolina at Charlotte (United States)
Zhaodan Huang - Utica College (United States)
Weidong Tian - University of North Carolina at Charlotte (United States)
Guofu Zhou - Washington University in St. Louis (United States)
Presenter: Yufeng Han - Univ. North Carolina - Charlotte (United States)

Discussant: Padma Kadiyala - Pace University (United States)

Session: 18-Monetary and Economic Policy

Room: 3
Date/Time: 2019-07-25-09:00 10:30
Chair: Elizabeth Bucacos - Banco Central del Uruguay (Uruguay)
Paper: Financial conditions and monetary policy in Uruguay: an MS-VAR approach
Authors:
Elizabeth Bucacos - Banco Central del Uruguay (Uruguay)
Presenter: Elizabeth Bucacos - Banco Central del Uruguay (Uruguay)

Discussant: Cheng Jiang - Temple University (China)

Paper: Unconventional Monetary Policy and the Shift in Corporate Bond Supply
Authors:
andrea zaghini - European Central Bank (Germany)
Presenter: Andrea Zaghini - European Central Bank (Germany)

Discussant: Onur Arugaslan - Western Michigan University (United States)

Paper: Policy Uncertainty and Stock Liquidity
Authors:
Chandrasekhar Krishnamurti - School of Commerce (Australia)
Presenter: Chandrasekhar Krishnamurti - University of South Australia (Australia)

Discussant: George Morcerf - IBMEC (Brazil)

Session: 19-Behavior Finance

Room: 4
Date/Time: 2019-07-25-09:00 10:30
Chair: Arlos Risden Junior - Universidade Estadual do Oeste do Paraná - UNIOESTE (Brazil)
Paper: Trajectory of political events and Economic Indices: Testing cycles within a cycle
Authors:
SHARLYWEST UWABOR EBOIGBE - UNIVERSITY OF BENINE,PMB 1154,BENIN CITY ,EDO STATE,NIGERIA ()
Victor Usunobun IMAGBE - UNIVERSITY OF BENINE,PMB 1154,BENIN CITY ,EDO STATE,NIGERIA ()
Presenter: Sharlywest Eboigbe - University of Benin (Niger)

Discussant: Aekkachai Nittayagasetwat - National Inst. Development Administration (Thailand)

Paper: Behavioural attention to financial indicators: Evidence from Google Trends Data
Authors:
Jolana Stejskalová - Mendel university in Brno (Czech Republic)
Presenter: Jolana Stejskalova - Mendel university in Brno (Czech Republic)

Discussant: Mahsa Memarian - INCAE Business School (Costa Rica)

Paper: Behavioral Finance: the influence of Loss Aversion and Nudges on investment decisions in REITs
Authors:
Arlos Risden Jr - Universidade Estadual do Oeste do Paraná - UNIOESTE (Brazil)
Claudio Rojo - Universidade Estadual do Oeste do Paraná - UNIOESTE (Brazil)
Delci Dal Vesco - Universidade Estadual do Oeste do Paraná - UNIOESTE (Brazil)
Osni Hoss - Universidade Tecnológica Federal do Paraná - UTFPR (Brazil)
Presenter: Arlos Risden Junior - Universidade Estadual do Oeste do Paraná - UNIOESTE (Brazil)

Discussant: Richard Fullmer - Nuova Longevità Research (United States)

Session: 20-Corporate Finance

Room: 5
Date/Time: 2019-07-25-09:00 10:30
Chair: Antonio Salvi - Università Lum Jean Monnet (Italy)
Paper: SIGNIFICANT CONTRIBUTION OF MACROECONOMIC INDICATORS TO THE GENERATION OF COMPETITIVENESS IN SMES
Authors:
Luis Francisco Ramirez Diaz - Politecnico Colombiano Jaime Isaza Cadavid (Colombia)
Presenter: Luis Francisco Ramirez Diaz - Politecnico Colombiano Jaime Isaza Cadavid (Colombia)

Discussant: Ashenafi Beyene Fanta - University of Stellenbosch Business School (South Africa)

Paper: The relationship between leverage and market value: evidence from the Indonesia Stock Exchange
Authors:
Enrico Battisti - University of Turin (Italy)
Antonio Salvi - University LUM Jean Monnet (Italy)
Nicola Miglietta - Univeristy of Turin (Italy)
Luigi Bollani - University of Turin (Italy)
Presenter: Antonio Salvi - Università Lum Jean Monnet (Italy)

Discussant: Xiaofei Xing - University of Birmingham (United Kingdom)

Paper: Corporate Governance Practices in Listed State Owned Enterprises in India: An Empirical Research
Authors:
KIRANMAI J - Institute of Public Enterprise (India)
Ram Kumar Mishra - Institute of Public Enterprise (India)
Presenter: Ram Kumar Mishra - Institute of Public Enterprise (India)

Discussant: Felipe Zuniga - Universidad Austral de Chile (Chile)

Coffee Break

Date/Time: 2019-07-25-10:30 11:00
Session: 21-Monetary and Economic Policy

Room: 1
Date/Time: 2019-07-25-11:00 12:30
Chair: Chandrasekhar Krishnamurti - University of South Australia (Australia)
Paper: Unconventional US monetary policy and International spillovers: assesing the impact in Brazil using a GVAR approach 2007-2017
Authors:
george morcerf - Ibmec (Brazil)
Tarciso Gouveia da Silva - UFRJ and Ibmec (Brazil)
Osmani Teixeira de Carvalho Guillén - BCB and Ibmec (Brazil)
Andre de Melo Modenesi - UFRJ (Brazil)
Presenter: George Morcerf - IBMEC (Brazil)

Discussant: Pablo Pincheira - Adolfo Ibáñez University (Chile)

Paper: To lean or not to lean against an asset price bubble? Empirical evidence
Authors:
Anastasios Evgenidis - Newcastle University (United Kingdom)
Tassos Malliaris - Loyola University of Chicago (United States)
Presenter: Anastasios Evgenidis - Newcastle University (United Kingdom)

Discussant: Hidetaka Kawakita - Kyoto University (Japan)

Session: 22-Behavioral Investments

Room: 2
Date/Time: 2019-07-25-11:00 12:30
Chair: Tonn Talpsepp - Estonian Entrepreneurship University of Applied Sciences (Estonia)
Paper: News Sentiment and Stock Market Volatility
Authors:
Jimmy Yang - Oregon State University (United States)
Yen-Ju Hsu - National Taiwan University (Taiwan)
Presenter: Jimmy Yang - Oregon State University (United States)

Discussant: Marcela Valenzuela - Universidad de Chile (Chile)

Paper: Academic Abilities, Trading and Performance in the Stock Market
Authors:
Tonn Talpsepp - Tallinn University of Technology (Estonia)
Kristjan Liivamägi - Tallinn University of Technology (Estonia)
Tarvo Vaarmets - Tallinn University of Technology (Estonia)
Presenter: Tonn Talpsepp - Estonian Entrepreneurship University of Applied Sciences (Estonia)

Discussant: Konstantinos Gavriilidis - University of Stirling (United Kingdom)

Paper: Liquidity and Price Discovery When Some Participants are Irrational: Evidence from the NSE
Authors:
Padma Kadiyala - Pace University, Lubin School of Business (United States)
Presenter: Padma Kadiyala - Pace University (United States)

Discussant: Santiago Truffa - ESE Business School (Chile)

Session: 23-Corporate Finance

Room: 3
Date/Time: 2019-07-25-11:00 13:00
Chair: Sabri Boubaker - South Champagne Business School (France)
Paper: When in Rome, do as the Romans: Evidence from US Corporate Misbehaviour
Authors:
Sabri Boubaker - South Champagne Business School (France)
Asad Ali-Rind - IRG, Université Paris Est Créteil (France)
Khelifa Mazouz - Cardiff Business School, Cardiff University (United Kingdom)
Souad Lajili?Jarjir - IRG, Université Paris Est Créteil (France)
Presenter: Sabri Boubaker - South Champagne Business School (France)

Discussant: Rajesh Aggarwal - Northeastern University (United States)

Paper: R&D Investment Intensity and Jump Volatility of Stock Price
Authors:
Cheng Jiang - Temple University (United States)
Kose John - New York University (United States)
Presenter: Cheng Jiang - Temple University (China)

Discussant: Bang Jeon - Drexel University (United States)

Paper: Shareholder activism and CEO quality
Authors:
Wan Wongsunwai - Chinese University of Hong Kong (Hong Kong)
Liang Tan - George Washington University (United States)
Presenter: Wan Wongsunwai - Chinese University of Hong Kong (Hong Kong)

Discussant: Edward Jones - Heriot-Watt University (United Kingdom)

Paper: How Important are Capital Controls in Shaping R&D Activity?
Authors:
Claire Economidou - University of Piraeus (Greece)
Alexandros Bechlioulis - University of Piraeus (Greece)
Dimitris Konstantios - University of Piraeus (Greece)
Presenter: Claire Economidou - University of Piraeus (Greece)

Discussant: Antonio Salvi - Università Lum Jean Monnet (Italy)

Session: 24-Banking and Financial Institutions

Room: 4
Date/Time: 2019-07-25-11:00 12:30
Chair: Lora Dimitrova - University of Exeter (United Kingdom)
Paper: Bank IPOs, Political Connections and De(Regulations)
Authors:
Maria-Eleni Agoraki - Athens University of Economics and Business (Greece)
Dimitrios Gounopoulos - University of Bath (United Kingdom)
Georgios P. Kouretas - IPAG Business School (Greece)
Presenter: Georgios Kouretas - Athens University of Economics and Business (Greece)

Discussant: Lora Dimitrova - University of Exeter (United Kingdom)

Paper: Market-based Finance and Bank Efficiency: DEA Analysis of EU Banks
Authors:
Galia Kondova - University of Applied Sciences and Arts Northwestern Switzerland (Switzerland)
Trishit Bandyopadhyay - TST Training and Research Services (India)
Presenter: Trishit Bandyopadhyay - TST Training and Research Services (India)

Discussant: Luis Francisco Ramirez Diaz - Politecnico Colombiano Jaime Isaza Cadavid (Colombia)

Paper: Conglomerates Discount & Platform Premium: the impact of diversification in financial institutions
Authors:
Cecilia Marchesi - Bocconi University (Italy)
Presenter: Cecilia Marchesi - Bocconi University (Italy)

Discussant: Maria-Eleni Agoraki - Athens University of Economics and Business and IPAG Business School (Greece)

Session: 25-Investments

Room: 5
Date/Time: 2019-07-25-11:00 12:30
Chair: Julapa Jagtiani - Federal Reserve Bank of Philadelphia (United States)
Paper: Portfolio selection and trading strategies of cryptocurrencies base on different algorithms
Authors:
Yalan Zhang - Imperial College (United Kingdom)
Qiuyu Chen - Xi'an Jiaotong Liverpool University (China)
Presenter: Qiuyu Chen - Xi an Jiaotong Liverpool University (China)

Discussant: Atsuji Ohara - University of Nagasaki (Japan)

Paper: The Exchange Rate is important factor on the Corporate Bond Market
Authors:
Blanka Francova - Mendel University in Brno (Czech Republic)
Presenter: Blanka Francova - Mendel University of Brno (Czech Republic)

Discussant: Julapa Jagtiani - Federal Reserve Bank of Philadelphia (United States)

Paper: Corporate Responses under External Scrutiny: The Battle against Short-Seller Research
Authors:
Jacky Chau - Chinese University of Hong Kong (Hong Kong)
Presenter: Yuen Kit Chau - Chinese University of Hong Kong (Hong Kong)

Discussant: Nanjun Zhu - Peking University (China)

Session: 26-Shark Tank Event

Room: 6
Date/Time: 2019-07-25-11:00 12:30
team led by Phil Gharghori (Monash University) - Já registado (2) team led by Terry Walter (University of Wollongong) (3) team contact is Le, Cao Hoang Anh (University of Technology Sydney)
Chair: Robert Faff - Business School, University of Queensland (Australia)
Lunch

Room: Restaurant
Date/Time: 2019-07-25-12:30 14:30
Session: 27-Banking and Financial Institutions

Room: 1
Date/Time: 2019-07-25-14:30 16:00
Chair: Santiago Truffa - ESE Business School (Chile)
Paper: Organisational Structure of Financial Institutions and Customer Satisfaction in Australia
Authors:
Dianne Thomson - Deakin University (Australia)
Presenter: Dianne Thomson - Deakin University (Australia)

Discussant: Christopher James - University of Florida (United States)

Paper: Removing the Fine Print: Standardization, Disclosure, and Consumer Outcomes
Authors:
Sheisha Kulkarni - University of Virginia (United States)
Santiago Truffa - Tulane University (United States)
Gonzalo Iberti - SBIF (Chile)
Presenter: Santiago Truffa - ESE Business School (Chile)

Discussant: Yanxiang Gu - state university of new york, geneseo (United States)

Paper: Do Top-Tier Investment Banks Suffer from Social Loafing?
Authors:
Xiaofei Xing - University of Birmingham (United Kingdom)
Michael Guo - Durham University (United Kingdom)
Presenter: Xiaofei Xing - University of Birmingham (United Kingdom)

Discussant: Kiridaran Kanagaretnam - York University (Canada)

Paper: Bank Capital and Lending to Firms: The Case for Switzerland
Authors:
abhik mukherjee - University of Cape Town (South Africa)
Luisa Lambertini - Ecole Polytechnique Federale de Lausanne (Switzerland)
Robert Bichsel - Swiss National Bank (Switzerland)
Dan Wunderli - Swiss National Bank (Switzerland)
Presenter: Abhik Mukherjee - University of Cape Town (South Africa)

Discussant: Malgorzata Iwanicz Drozdowska - Warsaw School of Economics (Poland)

Session: 28-Market Efficiency and Asset Pricng

Room: 2
Date/Time: 2019-07-25-14:30 16:00
Chair: Nanjun Zhu - Peking University (China)
Paper: Speculation, Bubbles, and Manias
Authors:
Carlos J. Pérez - Universidad Diego Portales (Chile)
Manuel S. Santos - University of Miami (United States)
Presenter: Carlos Perez - Universidad Diego Portales (Chile)

Discussant: Keng-Yu Ho - National Taiwan University (Taiwan)

Paper: A Study On The Analysts? Industry Knowledge And The Accuracy Of Earnings Forecasts
Authors:
nanjun zhu - Peking University (China)
xinyi wang - Bosera Asset Management Co., Limited (China)
Presenter: Nanjun Zhu - Peking University (China)

Discussant: Zili Zhuang - The Chinese University of Hong Kong (Hong Kong)

Paper: Optimal Timing and Tilting of Equity Factors
Authors:
Wolfgang Drobetz - Hamburg University (Germany)
Hubert Dichtl - Hamburg University (Germany)
Harald Lohre - Lancaster University Management School (United Kingdom)
Carsten Rother - Hamburg University (Germany)
Patrick Vosskamp - Allianz Global Investors (Germany)
Presenter: Carsten Rother - University of Hamburg, Invesco (Germany)

Discussant: Qiuyu Chen - Xi an Jiaotong Liverpool University (China)

Session: 29-Corporate Finance

Room: 3
Date/Time: 2019-07-25-14:30 16:00
Chair: Natalia Alves - Universidade Federal Pernanmbuco (Brazil)
Paper: Detecting the impact of Earnings Management on the Value Relevance of Earnings amongst Brazilian Firms listed in Brazilian Stock Exchange (B3)
Authors:
Natalia Alves - UFPE (Brazil)
Charles Carmona - UFPE (Brazil)
Mauricio Freitas - UFPE (Brazil)
Rommel Freire - UFPB (Brazil)
Presenter: Natalia Alves - Universidade Federal Pernanmbuco (Brazil)

Discussant: Gerald Lobo - University of Houston (United States)

Paper: Does corporate governance matter for stock returns? Estimating the volatility term structure in Brazilian Capital Market
Authors:
Guilherme Cardoso - Federal University of Uberlândia (Brazil)
Dannie Carr - Federal University of Uberlândia (Costa Rica)
Pablo Rogers - Federal University of Uberlândia (Brazil)
Presenter: Guilherme Freitas Cardoso - Federal University of Uberlandia (Brazil)

Discussant: Luis Fernando Ramirez - Universidad De La Salle (Colombia)

Paper: Credit Rating and Market Failure
Authors:
Georgios Kouretas - Athens University of Economics and Business (Greece)
Maria-Eleni Agoraki - Athens University of Economics and Business (Greece)
Dimitris Gounopoulos - University of Bath (United Kingdom)
Presenter: Maria-Eleni Agoraki - Athens University of Economics and Business and IPAG Business School (Greece)

Discussant: Mohammad Refakar - Université de Sherbrooke (Canada)

Session: 30-Savings and Retirements

Room: 4
Date/Time: 2019-07-25-14:30 16:00
Chair: Ramona Rupeika-Apoga - University of Latvia (Latvia)
Paper: Financial literacy and retirement saving decisions
Authors:
Gizelle Willows - University of Cape Town (South Africa)
Presenter: Gizelle Willows - University of Cape Town (South Africa)

Discussant: Robinson Reyes Pena - Florida International University (United States)

Paper: Individual Tontine Accounts
Authors:
Richard Fullmer - Nuova Longevità Research (United States)
Michael Sabin - Independent Consultant (United States)
Presenter: Richard Fullmer - Nuova Longevità Research (United States)

Discussant: Marco Morales - Universidad Diego Portales (Chile)

Paper: THE IMPACT OF POPULATION AGING AND STRATIFICATION: THE CASE OF LATVIA
Authors:
Ramona Rupeika-Apoga - University of Latvia (Latvia)
Inna Romanova - University of Latvia (Latvia)
Larisa Bule - University of Latvia (Latvia)
El Thalassinos - University of Piraeus (Greece)
Presenter: Ramona Rupeika-Apoga - University of Latvia (Latvia)

Discussant: Ram Kumar Mishra - Institute of Public Enterprise (India)

Session: 31-Asset Pricing

Room: 5
Date/Time: 2019-07-25-14:30 16:30
Chair: James Foye - University of Ljubljana (Slovenia)
Paper: Global Minimum Variance Portfolio estimation using regularization methods: banding, tapering, and shrinkage
Authors:
Nini Johana Marin Rodriguez - Universidad de Medellín (Colombia)
Presenter: Nini Marin Rodriguez - Universidad de Medellin (Colombia)

Discussant: Ravi Shukla - Syracuse University (United States)

Paper: The predictive power of convenience yields
Authors:
Viviana Fernandez - Universidad Adolfo Ibañez (Chile)
Presenter: Viviana Fernandez - Universidad Adolfo Ibañez (Chile)

Discussant: David Nanigian - Mihaylo College of Business and Economics at California State University, Fullerton (United States)

Paper: Unraveling the value premium: a reward for risk or mispricing?
Authors:
Claudio Serur - UCEMA (Argentina)
Julian Siri - UCEMA (Argentina)
Juan Serur - UCEMA (Argentina)
Jose P Dapena - UCEMA (Argentina)
Presenter: Jose Dapena - UCEMA (Argentina)

Discussant: Tonn Talpsepp - Estonian Entrepreneurship University of Applied Sciences (Estonia)

Paper: A Dividend-Based Model to Explain the Cross Section of Equity Returns for both Financial and Non-Financial Stocks
Authors:
James Foye Foye - University of Ljubljana (Slovenia)
Presenter: James Foye - University of Ljubljana (Slovenia)

Discussant: Guillermo Dumrauf - Universidad del CEMA (Argentina)

Coffee Break

Room: Restaurant
Date/Time: 2019-07-25-16:00 16:30
Session: 32-Special Session -The Credibility Crisis in Finance Research. A Conversation on the Causes, Consequences, and Remedies

Date/Time: 2019-07-25-16:30 18:00
Chair: John Adams - University of Texas at Arlington (United States)
Session: 33-Corporate Finance

Room: 1
Date/Time: 2019-07-26-09:00 10:30
Chair: Amitabh Gupta - University of Delhi (India)
Paper: Small business performance: is it formal or informal finance that matters?
Authors:
Ashenafi Fanta - University of Stellenbosch Business School (South Africa)
Kingstone Mutsonziwa - Finmark Trust (South Africa)
Presenter: Ashenafi Beyene Fanta - University of Stellenbosch Business School (South Africa)

Discussant: Xiuli Chao - University of Michigan (United States)

Paper: A DEA efficiency and productivity analysis on Colombian Hotels
Authors:
Jaime Romero Perdomo - Universidad Piloto de Colombia (Colombia)
Amalia Rodrigo Gonzalez - Universidad de Valencia (Spain)
Presenter: Jaime Romero Perdomo - Universidad Piloto de Colombia (Colombia)

Discussant: Gonzalo Iberti - universidad adolfo ibañez (Chile)

Paper: Ownership Concentration and Firm Performance in India
Authors:
Amitabh Gupta - University of Delhi (India)
Tripti Nashier - University of Delhi (India)
Presenter: Amitabh Gupta - University of Delhi (India)

Discussant: Guilherme Freitas Cardoso - Federal University of Uberlandia (Brazil)

Session: 34-Banking and Financial Institutions

Room: 2
Date/Time: 2019-07-26-09:00 11:00
Chair: Gerald Lobo - University of Houston (United States)
Paper: Mortgage Delinquencies, Terminations, and Hazard Models
Authors:
Chao Yue Tian - SWUFE (China)
Presenter: ChaoYue Tian - Southwestern University Finance & Economics (China)

Discussant: Petr Jakubik - University of Economics, Prague (Czech Republic)

Paper: Stress Tests & the Hawthorne Effect in Banking
Authors:
Raffi Garcia - Rensselaer Polytechnic Institute (United States)
Suzanne Steele - Brandeis University (United States)
Presenter: Raffi Garcia - Rensselaer Polytechnic Institute (United States)

Discussant: ChaoYue Tian - Southwestern University Finance & Economics (China)

Paper: Does Accounting Enforcement Influence Risk-taking in the Banking Industry? Cross-country Evidence from the Pre-crisis and Post-crisis Periods
Authors:
Lorenzo Dal Maso - ESSEC Business School (France)
Kanagaretnam Kiridaran - Schulich School of Business, York University (Canada)
Gerald J. Lobo - University of Houston ? Bauer College of Business (United States)
Francesco Mazzi - University of Florence (Italy)
Presenter: Gerald Lobo - University of Houston (United States)

Discussant: Ioannis Ganoulis - European Central Bank (Germany)

Paper: How Important Are Local Community Banks to Small Businesses? Evidence from Mergers and Acquisitions
Authors:
Julapa Jagtiani Jagtiani - Federal Reserve Bank of Philadelphia (United States)
Presenter: Julapa Jagtiani - Federal Reserve Bank of Philadelphia (United States)

Discussant: Santiago Truffa - ESE Business School (Chile)

Session: 35-Corporate Bonds and Credit Spreads

Room: 3
Date/Time: 2019-07-26-09:00 10:30
Chair: Onur Arugaslan - Western Michigan University (United States)
Paper: Demystifying Yield Spread on Corporate Bonds Trades in India
Authors:
Dr Kedar nath Mukherjee - National Institute of Bank Management (India)
Presenter: Kedar Mukherjee - National Institute of Bank Management (India)

Discussant: Abhik Mukherjee - University of Cape Town (South Africa)

Paper: Operating leverage and bond yield spreads
Authors:
Zili Zhuang - Chinese University of Hong Kong (Hong Kong)
Ting-Kai Chou - National Cheng Kung University (Taiwan)
Henock Louis - Penn State University (United States)
Presenter: Zili Zhuang - The Chinese University of Hong Kong (Hong Kong)

Discussant: Devrim Yaman - Western Michigan University (United States)

Paper: Does Convertible Bond Issuance Sequence Influence Operating Performance?
Authors:
Devrim Yaman - Western Michigan University (United States)
Onur Arugaslan - Western Michigan University (United States)
Ajay Samant - Illinois State University (United States)
Presenter: Onur Arugaslan - Western Michigan University (United States)

Discussant: Svetlana Saksonova - University of Latvia (Latvia)

Session: 36-Interest Rates

Room: 4
Date/Time: 2019-07-26-09:00 10:30
Chair: Sheen Liu - Washington State University - Pullman (United States)
Paper: How Well Does Duration Measure Risk? Does Convexity Matter?
Authors:
Joel Barber Barber - Florida International University (United States)
Presenter: Joel Barber - Florida International Conference (United States)

Discussant: Sheen Liu - Washington State University - Pullman (United States)

Paper: Heterogeneous Valuations, Search Frictions and the Relation between Price Volatility and Volume
Authors:
Sheen Liu - Washington State University (United States)
Junbo Wang - University of Hong Kong, Hong Kong (China)
Chunchi Wu - State University of New York at Buffalo (United States)
Presenter: Sheen Liu - Washington State University - Pullman (United States)

Discussant: Irena Vodenska - Boston University (United States)

Paper: Internationalization, Capital Structure and Capital Raising
Authors:
Edward Jones - Heriot-Watt University (United Kingdom)
Nana Kwansa - Heriot-Watt University (United Kingdom)
Hao Li - Heriot-Watt University (United Kingdom)
Presenter: Edward Jones - Heriot-Watt University (United Kingdom)

Discussant: Svetlana Orlova - University of Tulsa (United States)

Session: 37-Small Business Finance and Ethic

Room: 5
Date/Time: 2019-07-26-09:00 10:30
Chair: Ram Kumar Mishra - Institute of Public Enterprise (India)
Paper: Ethical Finance Dimension of Corporate Social Responsibility: A Case study of Indian SOEs
Authors:
Ram Kumar Mishra - Institute of Public Enterprise (India)
Shulagna Sarkar - Institute of Public Enterprise (India)
Kiranmai J - Institute of Public Enterprise (India)
Presenter: Ram Kumar Mishra - Institute of Public Enterprise (India)

Discussant: José Augusto Castillo - Pontificia Universidad Javeriana Cali (Colombia)

Paper: SMES IN ARGENTINA FINANCIAL INFORMATION AND FINANCING ALTERNATIVES
Authors:
miguel siebens - UNIVERSIDAD DE FLORES, CENTRO DE EMPRENDEDORES (Argentina)
Presenter: Miguel Siebens - UFLO Universidad (Argentina)

Discussant: Gleison Fonseca - Universidad Politécnica de Cartagena (Brazil)

Paper: Moral hazard index for credit to SMEs
Authors:
Jose A. Castillo - Pontificia Universidad Javeriana de Cali (Colombia)
Andrés Mora-Valencia - Universidad de los Andes (Colombia)
Javier Perote - University of Salamanca (IME) (Spain)
Presenter: José Augusto Castillo - Pontificia Universidad Javeriana Cali (Colombia)

Discussant: Miguel Siebens - UFLO Universidad (Argentina)

Coffee Break

Date/Time: 2019-07-26-10:30 11:00
Session: 38-Asset Pricing

Room: 1
Date/Time: 2019-07-26-11:00 12:30
Chair: Alex Horenstein - University of Miami (United States)
Paper: Internet search intensity and its relation with trading activity and stock returns
Authors:
Philip Gharghori Gharghori - Monash University (Australia)
Daniel Chai - Monash University (Australia)
Mengjia Dai - Monash University (Australia)
Barbara Hong - Monash University (Australia)
Presenter: Philip Gharghori - Monash University (Australia)

Discussant: Alex Horenstein - University of Miami (United States)

Paper: Common factors in equity option returns
Authors:
Alex Horenstein - University of Miami (United States)
Aurelio Vasquez - ITAM (Mexico)
Xiao Xiao - Erasmus (Netherlands)
Presenter: Alex Horenstein - University of Miami (United States)

Discussant: AKO DOFFOU - Shantou University (China)

Paper: The impact of the international commodity market on the Brazilian economy: an analysis using global-VAR (GVAR)
Authors:
George Augusto Noronha Morcerf - ibmec/rj (Brazil)
Tarciso Gouveia da Silva - Economics Institute - UFR (Brazil)
Osmani Teixeira de Carvalho Guillén - BCB and Ibmec (Brazil)
Presenter: George Morcerf - IBMEC (Brazil)

Discussant: Philip Gharghori - Monash University (Australia)

Paper: Investor Gambling Preference and the Asset Growth Anomaly
Authors:
Keng-Yu Ho - Department of Finance, National Taiwan University (Taiwan)
Kuan-Cheng Ko - Department of Banking and Finance, National Chi Nan University (Taiwan)
Nien-Tzu Yang - Department of Business Management, National United University (Taiwan)
Presenter: Keng-Yu Ho - National Taiwan University (Taiwan)

Discussant: Joel Barber - Florida International Conference (United States)

Session: 39-Financial Crises

Room: 2
Date/Time: 2019-07-26-11:00 12:30
Chair: Aristeidis Samitas - Zayed University (United Arab Emirates)
Paper: Financial Networks and Contagion: A Machine Learning Approach
Authors:
Aristeidis Samitas - Zayed University (United Arab Emirates)
Elias Kampouris - University of the Aegean (Greece)
Stathis Polyzos - University of the Aegean (Greece)
Presenter: Aristeidis Samitas - Zayed University (United Arab Emirates)

Discussant: Ricardo Luis Chaves Feijo - University of Sao Paulo - School of Economics, Business Administration and Accounting (Brazil)

Paper: Business Cycle: Uncertainty
Authors:
Keun Lee - Northern State University (United States)
Presenter: Keun Lee - Northern State University (United States)

Discussant: Aristeidis Samitas - Zayed University (United Arab Emirates)

Paper: Sovereign wealth funds on Japanese Equity Markets: Evidence from Saudi Arabia
Authors:
Atsuji Ohara - University of Nagasaki (Japan)
Presenter: Atsuji Ohara - University of Nagasaki (Japan)

Discussant: Alexandre Alles - IÉSEG School of Management (France)

Session: 40-International Finance

Room: 3
Date/Time: 2019-07-26-11:00 12:30
Chair: Gonzalo Cortazar - Pontificia Universidad Catolica de Chile (Chile)
Paper: A Dimension-invariant Cascade Model for VIX Futures
Authors:
Brice Dupoyet - Florida International University (United States)
Zhiguang Wang - South Dakota State University (United States)
Presenter: Brice Dupoyet - Florida International University (United States)

Discussant: Robin Chou - National Chengchi University (Taiwan)

Paper: Time-Varying Term Structure of Oil Risk Premiums
Authors:
Gonzalo Cortazar - Pontificia Universidad Catolica de Chile (Chile)
Philip Liedtke - Pontificia Universidad Catolica de Chile (Chile)
Hector Ortega - Pontificia Universidad Catolica de Chile (Chile)
Eduardo Schwartz - SFU-UCLA-NBER (Canada)
Presenter: Gonzalo Cortazar - Pontificia Universidad Catolica de Chile (Chile)

Discussant: Blazej Podgórski - Kozminski University (Poland)

Session: 41-Mutual Funds, Close-End Funds and ETFs

Room: 4
Date/Time: 2019-07-26-11:00 12:30
Chair: John Adams - University of Texas at Arlington (United States)
Paper: Institutional Herding and Mood
Authors:
Konstantinos Gavriilidis - University of Stirling (United Kingdom)
Vasileios Kallinterakis - University of Liverpool (United Kingdom)
Belma Öztürkkal - Kadir Has University (Turkey)
Presenter: Konstantinos Gavriilidis - University of Stirling (United Kingdom)

Discussant: Jose Faias - Universidade Católica Portuguesa (Portugal)

Paper: Returns to Active and Passive Management
Authors:
John Adams - University of Texas at Arlington (United States)
Darren Hayunga - University of Georgia (United States)
Sattar Mansi - Virginia Tech (United States)
Presenter: John Adams - University of Texas at Arlington (United States)

Discussant: Yoko Shirasu - Aoyama Gakuin University (Japan)

Session: 42-Banking and Financial Institutions

Room: 5
Date/Time: 2019-07-26-11:00 13:00
Chair: Petr Jakubik - University of Economics, Prague (Czech Republic)
Paper: Early Warning System for the European insurance sector
Authors:
Jakubik Petr Jakubik - Charles University in Prague (Czech Republic)
Lorenzo Danieli - European Securities and Markets Authority (France)
Presenter: Petr Jakubik - University of Economics, Prague (Czech Republic)

Discussant: Cesare Imbriani - UniTelmaSapienza Universita degli Studi di Roma (Italy)

Paper: Effects of Credit risk and banking supervision on the access to credit in a dualistic economy: the case of Southern Italy
Authors:
Antonio Lopes - Università di Napoli (Italy)
Cesare Imbriani - UniTelma Sapienza (Italy)
Presenter: Cesare Imbriani - UniTelmaSapienza Universita degli Studi di Roma (Italy)

Discussant: Manisha Chakrabarty - Indian Institute of Management Calcutta (India)

Paper: PIE STATUTORY AUDIT MARKET CONCENTRATION: EVIDENCE FROM LATVIA
Authors:
Svetlana Saksonova - University of Latvia (Latvia)
Ludmila Rozgina - IRIS-ALKONA (Latvia)
Presenter: Svetlana Saksonova - University of Latvia (Latvia)

Discussant: Natalia Alves - Universidade Federal Pernanmbuco (Brazil)

Lunch

Room: Restaurant
Date/Time: 2019-07-26-12:30 14:00
Keynote Speaker and Best Paper Award

Room: Auditorium
Date/Time: 2019-07-26-14:00 15:00
Coffee Break

Date/Time: 2019-07-26-15:00 15:30
Session: 43-Corporate Social responsability & Ethics

Room: 1
Date/Time: 2019-07-26-15:30 17:00
Chair: Iraj Fooladi - Dalhousie University (Canada)
Paper: Does the Joint Provision of Sustainability Assurance and Financial Audit Improve Financial Audit Quality?
Authors:
Luc Paugam - HEC Paris (France)
Lorenzo Dal Maso - Erasmus University Rotterdam (Netherlands)
Francesco Mazzi - University of Florence (Italy)
Gerald Lobo - University of Houston ? Bauer College of Business (United States)
Presenter: Gerald Lobo - University of Houston (United States)

Discussant: Iraj Fooladi - Dalhousie University (Canada)

Paper: Short Selling Bans and Overreaction in a Multi-Market Setting
Authors:
Robinson Reyes - Florida International University (United States)
Pankaj Jain - University of Memphis (United States)
Suchismita Mishra - Florida International University (United States)
Yu Hu - Florida International University (United States)
Presenter: Robinson Reyes Pena - Florida International University (United States)

Discussant: Long Wang - City University of Hong Kong (Hong Kong)

Paper: When Will CEOs Cook the Books? The Role of CEO Compensation, External Earnings Expectations, and Firm Reputation
Authors:
Long Wang - City University of Hong Kong (Hong Kong)
David Weng - VU Amsterdam (Netherlands)
Presenter: Long Wang - City University of Hong Kong (Hong Kong)

Discussant: Yolanda Portilla - Universidad de Chile (Chile)

Paper: Corporate headquarter relocation and CSR performance
Authors:
IRAJ FOOLADI Fooladi - Dalhousie University (Canada)
Ashraf AlZaman - Saint Mary's University (Canada)
Oumar Sy - Dalhousie University (Canada)
Ali Fatemi - DePaul University (United States)
Presenter: Iraj Fooladi - Dalhousie University (Canada)

Discussant: Sabri Boubaker - South Champagne Business School (France)

Session: 44-Options and Derivatives

Room: 2
Date/Time: 2019-07-26-15:30 17:00
Chair: AKO DOFFOU - Shantou University (China)
Paper: PRICING INTEREST RATE OPTIONS UNDER NEGATIVE INTEREST RATES: A VANNA-VOLGA APPROACH
Authors:
Nikolaos Milonas - National and Kapodistrian University of Athens - SARG (Greece)
George Arvanitis - National Bank of Greece (Greece)
Presenter: Nikolaos Milonas - National and Kapodistrian University of Athens (Greece)

Discussant: Gonzalo Cortazar - Pontificia Universidad Catolica de Chile (Chile)

Paper: Tests of a Contingent Claims Pricing and Hedging Model
Authors:
Ako Doffou - Shantou University (China)
Presenter: AKO DOFFOU - Shantou University (China)

Discussant: Jose Dapena - UCEMA (Argentina)

Paper: STOCHASTIC OPTION PRICING MODEL FOR INSURANCE DERIVATIVE MARKETS
Authors:
Prabakaran Sellamuthu - Pontificia Universidad Javeriana Cali. (Colombia)
Presenter: Prabakaran Sellamuthu - Pontificia Universidad Javeriana Cali (Colombia)

Discussant: George Morcerf - IBMEC (Brazil)

Session: 45-Market Indexes, Funds and Performnaces

Room: 3
Date/Time: 2019-07-26-15:30 17:00
Chair: Walayet Khan - University of Evansville (United States)
Paper: U.S. and Global Real Estate Market Indexes: Are they Interlinked?
Authors:
Walayet Khan - University of Evansville (United States)
Arif Qayyum - Iona College, New York (United States)
Presenter: Walayet Khan - University of Evansville (United States)

Discussant: Stephane Dubreuille - Neoma Business School (France)

Paper: Demonetisation and movement toward cashless economy in India: Appearance and illusions?
Authors:
Manisha Chakrabarty - Indian Institute of Management calcutta (India)
Ashutosh Jha - Indian Institute of Management Calcutta (India)
Partha Ray - Indian Institute of MAnagement Calcutta (India)
Presenter: Manisha Chakrabarty - Indian Institute of Management Calcutta (India)

Discussant: Antonio Lopes - Università di Napoli (Italy)

Paper: The Historical Record on Active vs. Passive Mutual Fund Performance
Authors:
David Nanigian - Mihaylo College of Business and Economics at California State University, Fullerton (United States)
Presenter: David Nanigian - Mihaylo College of Business and Economics at California State University, Fullerton (United States)

Discussant: Walayet Khan - University of Evansville (United States)

Session: 46-Portfolio Management and Performances Evaluation

Room: 4
Date/Time: 2019-07-26-15:30 17:00
Chair: Marcela Valenzuela - Universidad de Chile (Chile)
Paper: Investment strategy in Brazil's financial market: wide possibilities of choice between risk and return.
Authors:
Ricardo Luis Chaves Feijo - University of São Paulo (Brazil)
Presenter: Ricardo Luis Chaves Feijo - University of Sao Paulo - School of Economics, Business Administration and Accounting (Brazil)

Discussant: Gilberto Cardenas Cardenas - Universidad Autonoma de Madrid (Spain)

Paper: Active management premium: switching between US stocks and treasuries
Authors:
Jose P Dapena - UCEMA (Argentina)
Juan Serur - UCEMA (Argentina)
Julian Siri - UCEMA (Argentina)
Presenter: Jose Dapena - UCEMA (Argentina)

Discussant: Kedar Mukherjee - National Institute of Bank Management (India)

Paper: Implied Correlation and Market Returns
Authors:
Marcela Valenzuela - Universidad de Chile (Chile)
Presenter: Marcela Valenzuela - Universidad de Chile (Chile)

Discussant: Yves Rakotondratsimba - ECE Graduate School of Engineering (France)

Session: 47-Corporate Governance and Performance

Room: 5
Date/Time: 2019-07-26-15:30 17:00
Chair: Jean Bedard - Université Laval (Canada)
Paper: Independent Directors and Corporate Social Performance (CSP): An individual level perspective
Authors:
Jean Bédard - Laval University (Canada)
Presenter: Jean Bedard - Université Laval (Canada)

Discussant: Wenxuan Hou - Shanghai Lixin University of Accounting and Finance / Uni of Edinburgh (China)

Paper: The Effect of Integrated Reporting Quality on Market Liquidity and Analyst Forecast Errors
Authors:
Felipe Zuniga - Universidad Austral de Chile (Chile)
Julie Walker - The University of Queensland (Australia)
Michael Turner - The University of Queensland (Australia)
Presenter: Felipe Zuniga - Universidad Austral de Chile (Chile)

Discussant: Yu-Chun Wang - Ming Chuan University (Taiwan)

Paper: CSR Financial Performance and Long- term Investment in Japan
Authors:
Yoko Shirasu - Aoyama Gakuin University (Japan)
Hidetaka Kawakita - Kyoto University (Japan)
Presenter: Yoko Shirasu - Aoyama Gakuin University (Japan)

Discussant: Jean Bedard - Université Laval (Canada)