2018 JCF Special Issue Conference
JCF Special Issue Conference:
The Role of Institutional Investors in Corporate and Entrepreneurial Finance
December 17th and 18th, 2018 (Mon and Tue)
Conference Organizers and JCF Special Issue Guest Editors:
Click HERE for the Call for Papers (The submission is now closed. Thank you.)
JCF Special Issue expected publication date: December 2019
Registration fee: HK$2,200 per person (including refreshments, lunches and a conference dinner)
Please register using the form below
Please click here to view the program.
Day 1 (December 17, 2018)
Session 1: Institutional Investors, M&A, and Capital Structure
|Paper 1||Smart Investments by Smart Money: Evidence from Acquirers’ Projected Synergies|
|Authors||Ahmad Ismail, American University of Beirut|
|Samer Khalil, American University of Beirut|
|*Assem Safieddine, American University of Beirut|
|Sheridan Titman, University of Texas, Austin|
|Discussant||Bing Han, University of Toronto|
|Paper 2||Governance through Trading on Acquisitions of Public Firms|
|Authors||Eric C. Chang, The University of Hong Kong|
|*Tse-Chun Lin, The University of Hong Kong|
|Xiaorong Ma, National Taiwan University|
|Discussant||Fangjian Fu, Singapore Management University|
|Paper 3||What is the Role of Institutional Investors in Corporate Capital Structure Decisions: A Survey Analysis|
|Authors||Stephen Brown, Monash University|
|Marie Dutordoir, University of Manchester|
|*Chris Veld, Monash University|
|Yulia Veld-Merkoulova, Monash University|
|Discussant||Yangyang Chen, The Hong Kong Polytechnic University|
Session 2: Institutional Investors, Bonds, and Loans
|Paper 4||Follow the Money: Investor Trading Around Investor-Paid Credit Rating Changes|
|Authors||*Utpal Bhattacharya, Hong Kong University of Science and Technology|
|Kelsey D. Wei, University of Texas at Dallas|
|Han Xia, University of Texas at Dallas|
|Discussant||Dragon Yongjun Tang, The University of Hong Kong|
|Paper 5||Targeted by an Activist Hedge Fund, Do the Lenders Care?|
|Authors||Sandeep Dahiya, Georgetown University|
|Issam Hallak, European Commission DG-Joint Research Centre|
|*Thomas Matthys, Vlerick Business School|
|Discussant||Bohui Zhang, The Chinese University of Hong Kong Shenzhen|
|Paper 6||Does Background Risk Matter? Evidence from Insurers' Corporate Bond Portfolios|
|Authors||*Xuanjuan Chen, Shanghai University of Finance and Economics|
|Zhenzhen Sun, University of Massachusetts Dartmouth|
|Tong Yao, University of Iowa|
|Tong Yu, University of Cincinnati|
|Discussant||Zhi Jay Wang, University of Oregon|
Session 3: Institutional Investors and Corporate Governance
|Paper 7||Influence of Institutional Shareholders and Corporate Governance on Issuance and Proceeds|
|Authors||*Shumi Akhtar, University of Sydney|
|Farida Akhtar, Macquarie University|
|Kose John, New York University|
|Ye Ye, University of Sydney|
|Discussant||Si Cheng, The Chinese University of Hong Kong|
|Paper 8||Insider Trading and Shareholder Investment Horizons|
|Authors||Xudong Fu, University of Louisville|
|Lei Kong, University of Alabama|
|*Tian (Lori) Tang, University of Louisville|
|Xinyan Yan, University of Dayton|
|Discussant||Michael Minye Tang, New York University|
|Paper 9||Large Shareholder Ownership Types and Board Independence|
|Authors||Joanna Ho, University of California at Irvine|
|Cheng Jen Huang, Tunghai University|
|*Christo Karuna, Monash University|
|Anne Wu, National Chengchi University|
|Discussant||Jing Xie, The Hong Kong Polytechnic University|
Day 2 (December 18, 2018)
Session 4: Institutional Investors and Entrepreneurial Finance
|Paper 10||Do Institutional Investors Play Hide-and-Sell in the IPO Aftermarket?|
|Authors||*Tamara Nefedova, Université Paris-Dauphine|
|Giuseppe Pratobeveraz, Università della Svizzera italiana|
|Discussant||Chuan-Yang Hwang, Nanyang Technological University|
|Paper 11||Venture Capital Certification in Product Market: Evidence from P2P Lending Platforms|
|Authors||*Emma Li, Deakin University|
|Li Liao, Tsinghua University|
|Zhengwei Wang, Tsinghua University|
|Hongyu Xiang, Tsinghua University|
|Discussant||Jianfeng Hu, Singapore Management University|
|Paper 12||Politically Connected Venture Capitalists and IPOs: Evidence from China|
|Authors||Rouzhi Wang, Rutgers University|
|*Chaopeng Wu, Xiamen University|
|Discussant||Shan He, Oregon State University|
Session 5: Institutional Investors and Relationships
|Paper 13||Does Institutional Trading Affect Underwriting?|
|Authors||Amber Anand, Syracuse University|
|*Paul Irvine, Texas Christian University|
|Tingting Liu, Iowa State University|
|Discussant||Jianfeng Shen, UNSW|
|Paper 14||The Relationship Insurance Role of Financial Conglomerates: Evidence from Earnings Announcements|
|Authors||Jiun-Lin Chen, Valparaiso University|
|Gary C. Sanger, Louisiana State University|
|*Wei-Ling Song, Louisiana State University|
|Discussant||Xintong Zhan, The Chinese University of Hong Kong|
|Paper 15||Institutional Trading around Repurchase Announcements: An Uphill Battle|
|Authors||Pankaj Jain, University of Memphis|
|Suchismita Mishra, Florida International University|
|*Vinh Huy L. Nguyen, California State University, Fresno|
|Discussant||Christine Jiang, Fudan University|
Session 6: Institutional Investors, Behavior, Disclosure, and Regulation
|Paper 16||On Institutional Trading and Behavioral Bias|
|Authors||Sugato Chakravarty, Purdue University|
|*Rina Ray, University of Colorado Denver|
|Discussant||Jing Zhao, The Hong Kong Polytechnic University|
|Paper 17||Corporate Disclosure Quality and Institutional Investors’ Holdings During Market Downturns|
|Authors||Hua Cheng, Nankai University|
|Dayong Huang, University of North Carolina at Greensboro|
|*Yan Luo, Fudan University|
|Discussant||Grantley Taylor, Curtin University|
|Paper 18||The Rise and Fall of Portfolio Pumping Among U.S. Mutual Funds|
|Authors||Truong X. Duong, Iowa State University|
|*Felix Meschke, University of Kansas|
|Discussant||Christo Pirinsky, University of Central Florida|
* Presenting author
As with any large city, Hong Kong has many wonderful accommodation choices to fit your needs. Please see below for details or feel free to make reservations at the hotel of your choice. All three hotels are within 10-15 minutes walking distance from the campus.
Address: 17 Science Museum Rd,Kowloon
Email: email@example.com (for reservation) / firstname.lastname@example.org
Telephone: (852) 3400 1688 (for reservation)/ (852) 3400 1000
Fax: (852) 3400 1001
Location information: http://www.hotel-icon.com/location-and-contacts.aspx#/location
*Reservation link for JCF attendees:https://gc.synxis.com/rez.aspx?Hotel=51197&Chain=12116&arrive=12/17/2018&depart=12/18/2018&adult=1&child=0&promo=GJCF171218
Harbour Plaza Metropolis
Address: 7 Metropolis Drive, Hunghom, Kowloon, Hong Kong
Telephone: (852) 3160 6888
Fax: (852) 3160 6999
Location information: http://www.harbour-plaza.com/metropolis/Location-en.htm
*Reservation link for JCF attendees (Reservation deadline: Nov 30, 2018): https://gc.synxis.com/rez.aspx?Hotel=76636&Chain=21619&arrive=12/15/2018&depart=12/21/2018&adult=2&child=0&group=JCF2018
Regal Kowloon Hotel
Address: 71 Mody Road, Tsimshatsui, Hong Kong
Telephone: (852) 2722 1818
Fax: (852) 2369 6950
Location information: http://www.regalhotel.com/regal-kowloon-hotel/en/about/location-information.html
*These special room rates are reserved on a first-come-first-served basis and subject to availability. Attendees are responsible for bookings and commitments made with the hotel(s).
Passport and Visa
Visitors to Hong Kong must hold a passport that is valid for at least six months after the planned departure date from Hong Kong.
Hong Kong has a liberal visa policy, allowing visa-free entry to nationals of more than 170 countries and territories. For country-specific visa information, please visit http://www.immd.gov.hk/eng/services/visas/visit-transit/visit-visa-entry-permit.html.
For delegates from countries for which visas are required for entry to Hong Kong, please check with the Chinese Embassy or Consulate in your country.
For delegates traveling to other cities in China, an entry visa to China is required. Please obtain your visa from the Chinese Embassy or Consulate within your current place of residence. The travel documents must be valid for at least 6 months from the date of traveling.
- China entry visa information
Hong Kong has a sub-tropical climate with seasonal changes. To obtain a nine-day weather forecast around the conference period, please visit the Hong Kong Observatory website at: http://www.info.gov.hk/hko
Hong Kong is situated in the GMT +8 time zone.
The Standard electrical voltage in Hong Kong is 220 V AC, 50 HZ. The British Standard 1363 plug (13 A plug, three-pronged UK-type) is most commonly used in Hong Kong. Delegates are advised to bring an adaptor and/or transformer if their countries of origin follow different standards.
Explore Hong Kong
Please explore Hong Kong while you are attending the conference. For the most updated tourist information, please visit the website of the Hong Kong Tourism Board at www.discoverhongkong.com. It is Hong Kong’s official tourism guide includes tourist information on attractions, events, shopping and dining etc.
Victoria Peak is the highest peak on Hong Kong Island with an altitude of 552 meters (1,811 feet) and is a landmark of the island. The Peak Tram is a funicular railway in Hong Kong, which carries both tourists and residents to the upper levels of Hong Kong Island.
The Peak Tower is a leisure and shopping complex located at Victoria Gap. It also houses the upper terminal of the Peak Tram.
Sky100 is a 360-degree indoor observation deck on the 100th floor of the International Commerce Centre, in West Kowloon.
The Clock Tower is a landmark in Hong Kong. It is located on the southern shore of Tsim Sha Tsui, Kowloon. It is the only remnant of the original site of the former Kowloon Station on the Kowloon-Canton Railway.
The Hong Kong Museum of History is a museum which preserves Hong Kong's historical and cultural heritage. It is located next to the Hong Kong Science Museum, in Tsim Sha Tsui, Kowloon, Hong Kong.
The Hong Kong Science Museum is a science museum in Tsim Sha Tsui East, Kowloon, Hong Kong, located next to the Hong Kong Museum of History.
Wong Tai Sin Temple is a well known shrine and major tourist attraction in Hong Kong. It is dedicated to Wong Tai Sin, or the Great Immortal Wong.
Tian Tan Buddha, also known as the Big Buddha, is a large bronze statue of Buddha Shakyamuni completed in 1993, and located at Ngong Ping in Lantau Island.
Ngong Ping is a highland in the western part of Lantau Island. It hosts Po Lin Monastery and Tian Tan Buddha amidst the hills which is about 34 m tall. There are several hills nearby which are also an attraction to tourists.
Po Lin Monastery is a Buddhist monastery located on Ngong Ping Plateau.
Hong Kong UNESCO Global Geopark, formerly Hong Kong National Geopark, was inaugurated on 3 November 2009. It is a single entity of land area over 150 km² across parts of the eastern and northeastern New Territories.
Cheung Chau is an island 10 kilometres southwest of Hong Kong Island. It is nicknamed the 'dumbbell island' due to its shape.
Repulse Bay is a bay in the southern part of Hong Kong Island.
Stanley Market is a street market in Stanley on Hong Kong Island. The street is a typical example of a traditional old open-air market in Hong Kong and has since become a major tourist attraction, well known for its bargains.
Hong Kong Disneyland is a theme park located on reclaimed land in Penny's Bay, Lantau Island. It is located inside the Hong Kong Disneyland Resort and it is owned and managed by Hong Kong International Theme Parks.
Ocean Park is a marine mammal park, oceanarium, animal theme park and amusement park situated in Wong Chuk Hang and Nam Long Shan in the Southern District of Hong Kong.