Emerging Markets Finance Conference Program (as of June 22, 2010)

July 7-9, 2010, at the School of Economics and Management, Tsinghua University

Co-sponsored by the China Center for Financial Research, Tsinghua University and
                                China Academy of Financial Research,Shanghai Jiaotong University

Program Co-chairs:
Li Liao (Tsinghua), Jun Qian (Boston College), and Jiang Wang (MIT)

Wednesday, July 7, 2010
Conference Registration: 4:00-6:00pm (Location: Function room foyer, 4F Wenjin Hotel)
Conference Reception: 6:00-8:00pm (Location: Function room, 4F Wenjin Hotel)

Thursday, July 8, 2010(Presenting authors in BOLD)
Conference Registration: 8:00-9:00am, Rm.102 Shunde Building, Tsinghua SEM
Morning Session: 9:00-12:00 noon (Location: Rm.102 Shunde Building, Tsinghua SEM)
Session Title: Capital Flows and Risk/Crisis Management in Emerging Markets
Session Chair: Neil Pearson, University of Illinois at Urbana Champaign

Paper 1: Country Insurance and Corporate Risk-taking
Hui Tong,International Monetary Fund
Shang-jin Wei, Columbia University

Discussant: Kai Li, University of British Columbia

Paper 2: How Important are Foreign Ownership Linkages for International Stock Returns?
Sohnke Bartram, Lancaster University
John Griffin, University of Texas, Austin
David Ng, Wharton School, University of Pennsylvania

Discussant: Michael Lemmon, University of Utah

Coffee/Tea Break: 10:20-10:40 am

Paper 3: Assessing the Systemic Risk of a Heterogeneous Portfolio of Banks during the Recent Financial Crisis
Xin Huang, University of Oklahoma
Hao Zhou, Federal Reserve Board
Haibin Zhu, Bank for International Settlements

Discussant: Long Chen, Washington University in St. Louis

Paper 4: On the Fortunes of Stock Exchanges and Their Reversals: Evidence from Foreign Listings
Nuno Fernandes, IMD
Mariassunta Giannetti, Stockholm School of Economics

Discussant: Hong Yan, University of South Carolina

Lunch: 12:15-1:15 pm(Location: Lobby, Shunde Building, Tsinghua SEM)

Keynote Speech: 1:30-2:30pm; location:Rm. 418 Shunde Building, Tsinghua SEM
Keynote Speaker: William N. Goetzmann, Edwin J. Beinecke Professor of Finance and Management Studies, Yale University

Afternoon Session: 3:00-6:00 pm (Location: Rm.102 Shunde Building, Tsinghua SEM)
Session Title: Developing Financial Systems, Part I: India and Korea
Session Chair: Sankar De, Indian School of Business

Paper 1: Bank Entry and Bankruptcy
Todd Gormley, Wharton School, University of Pennsylvania
Nandini Gupta, Indiana University
Anand Jha, Texas A&M International University

Discussant: Rajesh Chakrabarti, Indian School of Business

Paper 2: The Impact of Shrouded Fees: Evidence from a Natural Experiment
Santosh Anagol, Wharton School, University of Pennsylvania

Discussant: Peter MacKay, Hong Kong University of Science and Technology

Coffee/Tea Break: 4:20-4:40 pm

Paper 3: Rewarding Calculated Risk-taking: Evidence from a Series of Experiments with Commercial Bank Loan Officers
Shawn Cole, Harvard Business School
Martin Kanz, Harvard University
Leora Klapper, World Bank

Discussant: Zhipeng Zhang, Boston College

Paper 4: Too Big To Go To Jail? Limits of Public Enforcement in Emerging Market
Woojin Kim, Korea University
Jongsik Park, Korea University

Discussant: Qianqian Du, Shanghai Advanced Institute of Finance

Conference Dinner: 7:00-9:30 pm (Location: Function room, 4F Wenjin Hotel)

Friday, July 9, 2010(Presenting authors in BOLD)
Morning Session: 9:00-12:00 noon (Location: Rm.102 Shunde Building, Tsinghua SEM)
Session Title: Developing Financial Systems, Part II: China and Beyond
Session Chair: Henry Cao, Cheung Kong Graduate School of Business

Paper 1: Financial Literacy and Household Investments in Structured Financial Products
Eric C. Chang, University of Hong Kong
Dragon Yongjun Tang, University of Hong Kong
Miao Zhang, University of Hong Kong

Discussant: Yingzi Zhu, Tsinghua University

Paper 2: Does the Location of Stock Exchange Matter? a Within-Country Analysis
Li Liao, Tsinghua University
Zhisheng Li, Tsinghua University
Weiqiang Zhang, Tsinghua University
Ning Zhu, Shanghai Advanced Institute of Finance

Discussant: Anna Obizhaeva, University of Maryland

Coffee/Tea Break: 10:20-10:40 am

Paper 3: Why is IPO Underpricing a Global Phenomenon?
James Booth, DePaul University
Lena Booth, Thunderbird School of Global Management

Discussant: TXiaoyun Yu, Indiana University

Paper 4: Ownership Structure, Share Transferability, and Corporate Risk Taking: Evidence from China
Jiekun Huang, National University of Singapore
Nianhang Xu, Renmin University
Qingbo Yuan, University of Melbourne

Discussant: Longkai Zhao, Peking University