Program

 

Monday, October 2

8:30-9:00 Registration and Coffee

9:00-9:15 Opening Remarks

Donna Rapaccioli, Dean and University Professor, Gabelli School of Business, Fordham University

An Yan, Associate Dean of Research and Faculty Development and Professor, Gabelli School of Business, Fordham University

9:15-10:35 Session I: Efficiency of the Chinese banking sector

Session Chair: Gayané Hovakimian, Gabelli School of Business, Fordham University

Paper 1: Are Chinese Big Banks Really Inefficient? Distinguishing Persistent from Residual Inefficiency
Presenters: Zuzana Fungáčová, BOFIT, Bank of Finland, and Laurent Weill, EM Strasbourg Business School, University of Strasbourg
Co-author: Paul-Olivier Klein, University of Strasbourg
Discussant: Mingming Zhou, University of Colorado at Colorado Springs

Paper 2: Foreign Bank Entry and Bank Efficiency: Evidence from China
Presenter: Chun-Yu Ho, University at Albany, SUNY
Co-authors: Yin-Won Cheung, City University of Hong Kong, and Jun Wu, Shanghai Jiao Tong University
Discussant: Laurent Weill, EM Strasbourg Business School, University of Strasbourg

10:35-11:00 Break

11:00-12:15 Keynote Speech: A Tale of Three Channels: Real Estate Shocks and Firm
Investment in China
Keynote Speaker: Wei Xiong, Princeton University
Session Chair: Iikka Korhonen, BOFIT, Bank of Finland

12:15-1:30 Lunch

1:30-2:50 Session II: Capital Misallocation, Credit, and Policy Issues

Session Chair: Paul Wachtel, Stern School of Buiness, New York University

Paper 1: A Window in the Great Wall: Market Impact of the 2013 Sino-U.S. Memorandum of Understanding on Enforcement Cooperation for U.S.-Listed Chinese Firms
Presenter: Disen Huang, New York University
Discussant: Rima Turk Ariss, International Monetary Fund

Paper 2: Credit Stimulus, Executive Compensation, and Firm Leverage: Theory and Evidence
Presenter: Sandeep Dahiya, McDonough School of Business, Georgetown University
Co-authors: Lei Ge, Georgetown University, and Pedro Gete, Georgetown University
Discussant: Maya Waisman, Gabelli School of Business, Fordham University

2:50-3:15 Break

3:15-5:15 Session III: Structural transformation in China

Session Chair: William Curt Hunter, Tippie College of Business University of Iowa

Paper 1: Limits to Autocracy: An Analysis of China's Renationalization
Presenter: Zhangkai Huang, School of Economics and Management, Tsinghua University
Co-authors: Lixing Li, National School of Development, Peking University, Guangrong Ma, School of Finance, Renmin University of China, and Jun Qian, Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Discussant: Zhenhuan Lei, New York University

Paper 2: Lending Without Creditor Rights, Collateral, or Reputation—The “Trusted-Assistant” Loan in 19th Century China
Presenter: Thomas Noe, Saïd Business School and Balliol College, University of Oxford
Co-authors: Meng Miao, Hangqin Institute, Renmin University, and Guanjie Niu,
Renmin University
Discussant: Ellis Tallman, Federal Reserve Bank of Cleveland

Paper 3: House Price, Land Sales and Local Government Finance in China
Presenter: Nathan Dong, Columbia University
Co-author: Zigan Wang, University of Hong Kong
Discussant: Ljubica Djordjevic, Goethe University Frankfurt am Main

6:15 Dinner Speaker
Z. George Hong, Chief Research Officer, Associate Vice President for Academic Affairs, Fordham University

 

Tuesday, October 3

8:30-9:00 Registration and Coffee

9:00-10:20 Session IV: China’s Monetary Policy

Session Chair: Riikka Nuutilainen, BOFIT, Bank of Finland

Paper 1: A Tale of Two Cities: Interbank and Exchange Repo Markets in China
Presenter: Eleanor Xu, Seton Hall University
Discussant: Ata Can Bertay, World Bank

Paper 2: Re-assessing Monetary Policy Shocks in China
Presenter: Alistair Dieppe, European Central Bank
Co-authors: Paolo Bonomolo, Sveriges Riksbank, and Bjorn van Roye, European Central Bank
Discussant: Arunima Sinha, Fordham University

10:20-11:00 Break

11:00-12:15 Keynote Speech: The Real Value of China's Stock Market
Keynote Speaker: Jennifer Carpenter, Stern School of Business, New York University
Session Chair: Paul McNelis, Gabelli School of Business, Fordham University

12:15-1:30 Lunch

1:30-2:50 Session V: Relationship and Monitoring

Session Chair: Sris Chatterjee, Gabelli School of Business, Fordham University

Paper 1: The Cost of Involuntary Relationship Destruction
Presenters: Anthony Saunders, New York University, and Yuqian Xu, College of Business, University of Illinois at Urbana-Champaign
Co-authors: Xindan Li, Nanjing University, and Binqing Xiao, Nanjing University
Discussant: Yihui Wang, Gabelli School of Business, Fordham University

Paper 2: Liquidity and Large Shareholder Monitoring
Presenter: Kose John, Stern School of Business, New York University
Co-authors: Yongxin Xu, Stern School of Business, New York University, Jian Xue, School of Economics and Management, Tsinghua University, and Zili Zhuang, Chinese University of Hong Kong
Discussant: Qiang Wu, Lally School of Management, Rensselaer Polytechnic Insitute

2:50-3:15 Break

3:15-5:15 Session VI: Debt and investor behavior in China

Session Chair: Johanna Francis, Fordham University

Paper 1: Liquidity Regulation and Credit Booms: Theory and Evidence from China
Presenter: Kinda Hachem, Booth School of Business, University of Chicago, and NEBR
Co-author: Zheng Michael Song, Chinese University of Hong Kong
Discussant: Patricia Gomez-Gonzalez, Fordham University

Paper 2: Subnational Debt of China: The Politics-Finance Nexus
Presenter: Dragon Yongjun Tang, University of Hong Kong
Co-authors: Haoyu Gao, Central University of Finance and Economics, Hong Ru, Nanyang Technological University
Discussant: Yun Zhu, St. John’s University

Paper 3: The Impact of Salience on Investor Behavior
Presenter: Baolian Wang, Gabelli School of Business, Fordham University
Co-authors: Cary Frydman, Marshall School of Business, University of Southern California
Discussant: Danling Jiang, College of Business, Stony Brook University

5:15 Concluding Remarks

6:15 Dinner