Sydney Banking and Financial Stability Conference

The 3rd Sydney Banking and Financial Stability Conference 2019

Aim of SBFC

Our goal in organising this conference series is to bring together international academics to provide them with the opportunity to meet and to share their latest thinking in banking, financial system stability, and financial studies. It is important to have this forum to exchange ideas to ensure that we are prioritising our collective efforts in addressing the most important and current banking and financial stability issues and contributing to public policy debates on how best to improve our shared architecture and to enhance financial system resilience into the future.

The SBFC2019 was attended by 150 delegates from 21 countries with 129 papers in the program.

Keynote Speakers

Professor Thorsten Beck

Professor of Banking and Finance, Cass Business School, City University of London

Thorsten Beck is professor of banking and finance at Cass Business School in London. He is also a research fellow of the Centre for Economic Policy Research (CEPR) and the CESifo. He was professor of economics from 2008 to 2014 at Tilburg University and the founding chair of the European Banking Center from 2008 to 2013. Previously he worked in the research department of the World Bank and has also worked as consultant for – among others - the European Central Bank, the Bank of England, the BIS, the IMF, the European Commission, and the German Development Corporation. His research, academic publications and operational work have focused on two major questions: What is the relationship between finance and economic development? What policies are needed to build a sound and effective financial system? Recently, he has concentrated on access to financial services, including SME finance, as well as on the design of regulatory and bank resolution frameworks. In addition to numerous academic publications in leading economics and finance journals, he has co-authored several policy reports on access to finance, financial systems in Africa and cross-border banking. His country experience, both in operational and research work, includes Bangladesh, Bolivia, Brazil, China, Colombia, Egypt, Mexico, Russia and several countries in Sub-Saharan Africa. In addition to presentation at numerous academic conferences, including several keynote addresses, he is invited regularly to policy panels across Europe. He holds a PhD from the University of Virginia and an MA from the University of Tübingen in Germany.

Professor Nadia Massoud

Ian Potter Professor Chair of Finance, Melbourne Business School, The University of Melbourne

Nadia Massoud joined Melbourne Business School in 2014 as the Ian Potter Chair Professor of Finance and Associate Dean of Research.

After completing her PhD in Economics and Finance at Queens University, Nadia held associate professor positions at the University of Alberta and York University’s Schulich School of Business. Nadia’s research, which has received extensive awards and appeared in leading journals, including the Review of Financial Studies, Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Rand Journal of Economics and others, focuses on corporate governance and regulation in the banking sector. Nadia teaches Financial Institutions, Corporate Finance and Financial Management on our MBA programs and is an organising director of the Financial Institutions, Regulation and Corporate Governance Conference.

Program

Conference Booklet

Session Papers

Session papers that can be downloaded are shown below with a download link. Papers without a link may be obtained by directly emailing the author.

SBFC2019 Session details with author approved downloadable links
Sessn No.	Title	Author	Author Email
1A1	What Drives Global Lending Syndication? Effects of Cross-Country Capital Regulation Gaps	Yeejin Jang, University of New South Wales, Australia	y.jang@unsw.edu.au
1A2	Foreign-Currency Lending	Panagiotis Politsidis, University of Sydney, Australia	panagiotis.politsidis@sydney.edu.au
1A3	Why Do Underwriters Syndicate?	Nirav Parikh, RMIT University Australia, Australia	nirav.parikh@rmit.edu.au
1B1	Do IFIs Make a Difference? The Impact of EIB Lending Support for SMEs in Central and Eastern Europe During the Global Financial Crisis	Adalbert Winkler, Frankfurt School of Finance & Management gGmbH, Germany	a.winkler@fs.de
1B2	Board Effectiveness and Bank Soundness: Do Foreign Directors Increase Bank Risk-Taking	David Tripe, Massey University, New Zealand	D.W.Tripe@massey.ac.nz
1B3	Unconventional Monetary Policy and Bank Risk Taking	Thomas Matthys, University of Technology Sydney, Australia	thomas.matthys@uts.edu.au
1C1	Trust and Debt Contracting: Evidence from the Backdating Scandal	Haekwon Lee, University of Sydney, Australia	haekwon.lee@sydney.edu.au
1C2	CEO Social Network and Systemic Risk	Sylvester Adasi Manu, City University of Hong Kong, Hong Kong S.A.R.	sadasiman2-c@my.cityu.edu.hk
1C3	CEO Power and Bank Default Risk	Searat Ali, University of Wollongong, Australia	searat@uow.edu.au
1D1	IPO Performance and the Size Effect: Evidence for the US and Canada	Lorne Switzer, Concordia University, Canada	lorne.switzer@concordia.ca
1D2	Can Governance Help in Making an IPO “Successful”? New Evidence from Europe	Valerio Pesic, University La Sapienza of Rome, Italy	valerio.pesic@uniroma1.it
1D3	Predictability of ICO Success and Returns	Dulani Jayasuriya, University of Auckland, New Zealand	d.jayasuriya@auckland.ac.nz
1E1	Dynamics of SOFR vs Fed Funds	Erik Schlögl, University of Technology Sydney, Australia	erik.schlogl@uts.edu.au
1E2	Congenial Signals Are Hard to Resist: The Impact of News in a Selective Information Evaluation	Stefanie Schraeder, University of New South Wales, Australia	s.schraeder@unsw.edu.au
1E3	Dealer Trading at the Fix	Carol Osler, Brandeis University, United States	cosler@brandeis.edu
1F1	The World Price of Tail Risk	Kuan Hui Lee, Seoul National University, Korea	kuanlee@snu.ac.kr
1F2	Endogenous Participation, Risk, and Learning in the Stock Market	Michael Shin, University of Sydney, Australia	mikeshin.j@gmail.com
1F3	Cross Country Linkages and Transmission of Sovereign Risk: Evidence from Global Credit Default Swaps Markets	Gaiyan Zhang, University of Missouri-St. Louis, United States	zhangga@umsl.edu
2A1	The Pass-Through of Bank Capital Requirements to Corporate Lending Spreads	Luisa Lambertini, Ecole Polytechnique Federale de Lausanne, Switzerland	luisa.lambertini@epfl.ch
2A2	Network-Motivated Lending Decisions	Yoshiaki Ogura, Waseda University, Japan	yogura@waseda.jp
2A3	The Signalling Role of Trade Credit in Bank Lending Decisions	Gabriele Sampagnaro, University of Naples Parthenope, Italy	gabriele.sampagnaro@gmail.com
2B1	Positive Payment Shock and Default Risk of Home Equity Lines of Credit at End of Draw	Herald Scheule, Univeristy of Technology Sydney, Australia	harald.scheule@uts.edu.au
2B2	The Impact of the Introduction of Positive Credit Reporting on the Australian Credit-Seeking Population	Andrew Grant, University of Sydney, Australia	andrew.grant@sydney.edu.au
2B3	Common Ownership and Bank Risk-Taking: Evidence from the U.S. Banking industry	Alex Haerang Park, Seoul National University, Korea	widhpl@gmail.com
2C1	Coordination Failures, Bank Runs and Asset Prices	Diemo Dietrich, Newcastle University, United Kingdom	diemo.dietrich@newcastle.ac.uk
2C2	Risk Sharing, Creditor Diversity, and Bank Regulation	Guangqian Pan, University of Sydney, Australia	guangqian.pan@sydney.edu.au
2C3	Capital Ideas: Optimal Capital Reserve Strategies for a Bank and Its Regulator	Kristoffer J. Glover, University of Technology Sydney, Australia	kristoffer.glover@uts.edu.au
2D1	Female Directors, CEO Overconfidence and Excess Cash	Onur Tosun, Cardiff University, United Kingdom	TosunO@cardiff.ac.uk
2D2	When the Remedy Is the Problem: Independent Boards, Short-Termism, and the Subprime Crisis	Peter Swan, University of New South Wales, Australia	peter.swan@unsw.edu.au
2D3	Foreign Institutional Ownership and the Speed of Leverage Adjustment: International Evidence	Donghui Li, College of Economics, Shenzhen University, China	guangzhousjz@hotmail.com
2E1	Dynamic Switching Behaviour of Asset Classes of Australian Superannuation investment Options	Banita Bissoondoyal-Bheenick, RMIT University, Australia	banita.bissoondoyal-bheenick@rmit.edu.au
2E2	Trade Credit Provision and Stock Price Crash Risk	Meng Wang, University of Nottingham Ningbo, China	meng.wang@nottingham.edu.cn
2E3	What Drives the Dispersion Anomaly?	Byoung-Kyu Min, University of Sydney, Australia	byoungkyu.min@sydney.edu.au
2F1	Emergency Liquidity Injections	Nicholas Garvin, Reserve Bank of Australia, Australia	nick.j.garvin@gmail.com
2F2	Financial Conditions and Macroeconomic Risk in Australia	Luke Hartigan, Reserve Bank of Australia, Australia	HartiganL@rba.gov.au
2F3	The Drivers and Risks of Household Debt	Michael Major, Reserve Bank of Australia, Australia	majorm@rba.gov.au
3A1	Clogged Intermediation: Were Home Buyers Crowded Out?	Jung-Eun Kim, Federal Reserve Bank of Richmond, United States	Jung-Eun.Kim@rich.frb.org
3A2	Dismembered Giants: Bank Divestitures and Local Lending	Yong Kyu Gam, Southwestern University of Finance and Economics, China	yongkyu.gam@gmail.com
3A3	Geographic Networks and Spillovers Between Banks	Shasta Shakya, Tulane University, United States	sshakya@tulane.edu
3B1	Stock Market Liquidity and Bank Risk: The Evidence in Australian Banks During the Recent Crisis	David Tripe, Massey University, New Zealand	D.W.Tripe@massey.ac.nz
3B2	Systemic Risk Channels of Nonbank Financial Entities: Evidence from Hedge Funds and Mutual Funds	Stefan Greppmair, University of Mannheim, Germany	greppmair@uni-mannheim.de
3B3	Bailout Regimes and Banking Stability	Miguel A. Duran, University of Malaga, Spain	maduran@uma.es
3C1	Household Debt, Capital Market Efficiency, and the Real Economy	Yunqi Zhang, Nankai University, China	zhangyunqi@u.nus.edu
3C2	Adverse Selection in Credit Certificates: Evidence from a P2P Platform	Maggie Hu, Chinese University of Hong Kong, Hong Kong S.A.R.	maggiehu@cuhk.edu.hk
3C3	Do the Basel III Bail-in Rules Increase Investors’ Incentives to Monitor Banking Risks? Evidence from the Subordinated Debt Market	James Cummings, University of Sydney, Australia	james.cummings@sydney.edu.au
3D1	Last Minute Earning Forecast Revision	Cunyu Xing, Southwestern University of Finance and Economics, China	xingcunyu@swufe.edu.cn
3D2	Do Disclosures of Selective Access Improve Market information Acquisition Fairness? Evidence from Company Visits in China	Cheng Xiang, Chongqing University, China	xiangcheng@cqu.edu.cn
3D3	The Impact of Tightly-Contested Governance Proposals on Firms’ Narrative Disclosures: Evidence from a Regression-Discontinuity Design	Arup Ganguly, University of Mississippi, United States	aganguly@bus.olemiss.edu
3E1	Do Limits to Arbitrage Explain the Benets of Volatility-Managed Portfolios?	Pedro Barroso, University of New South Wales, Australia	pedro.ms.barroso@gmail.com
3E2	Time-Varying Lottery Anomalies	Chenfei Sun, University of Sydney, Australia	chenfei.sun@sydney.edu.au
3E3	Lottery or Asymmetric Response to News: Why Is Skewness Priced?	Hang Wang, University of New South Wales, Australia	hang.wang1@unsw.edu.au
3F1	Easy Money: the Inefficient Supply of Inside Liquidity	Alessio Galluzzi, University of Sydney, Australia	alessio.galluzzi@sydney.edu.au
3F2	Early Warning Systems Using Dynamic Factor Models - An Application to Asian Economies	Chi Truong, Macquarie University, Australia	chi.truong@mq.edu.au
3F3	Cross-Border Bank Flows and Monetary Policy	Horacio Sapriza, Federal Reserve Board, United States	horacio.sapriza@frb.gov
4A1	Reach for Yield by U.S. Public Pension Funds	Andrei Zlate, Federal Reserve Board, United States	andrei.zlate@frb.gov
4A2	Sovereign Debt Auction Method and Issuance Cost: Evidence from Iceland	Mark Wu, Roger Williams University, United States	markwu@rwu.edu
4A3	Macroeconomic Shocks and Bank Failure	Qiongbing Wu, Western Sydney University, Australia	l.wu@westernsydney.edu.au
4B1	The Effects of Bank Monitoring on Firm Value: The Role of Default Risk and Ownership Structure	Wook Sohn, KDI School of Public Policy and Management, Korea	wooksohn@kdischool.ac.kr
4B2	Philanthropy in Banking	Raphael Jonghyeon Park, University of New South Wales, Australia	jonghyeon.park@unsw.edu.au
4B3	The Precious Metals Holdings of Chinese Financial institutions	Dirk Baur, University of Western Australia, Australia	dirk.baur@uwa.edu.au
4C1	Peer Pressure: How Do Peer-to-Peer Lenders Affect Banks’ Cost of Deposits and Liability Structure?	Santosh Koirala, University of Birmingham, United Kingdom	s.koirala@bham.ac.uk
4C2	Moral Hazard in Consumer Unsecured Debt: Evidence from Canada	Mandy Zhang, University of Sydney, Australia	man.zhang@sydney.edu.au
4C3	Digging into the Black Box of Portfolio Replenishment in Securitization: Evidence from the ABS Loan-Level Initiative	Arved Fenner, University of Münster, Germany	arved.fenner@wiwi.uni-muenster.de
4D1	The Role of Perceived Risk in Debt Decisions	Trang Phung, Massey University, New Zealand	T.Phung@massey.ac.nz
4D2	The Impact of Investment Grade Cut-offs on Firms' Investment Decisions and Performance	Seonhyeon Kim, Korea University, Korea	ejejfl3@naver.com
4D3	Dividend Smoothing and the Allocation of Internal Cash Flow	Bardia Khorsand, Australian National University, Australia	bardia.khorsand@anu.edu.au
4E1	The Cost of Overconfidence in Public information	Soosung Hwang, Sungkyunkwan University, Korea	shwang@skku.edu
4E2	Cross Block Ownership of Traded Commercial Real Estate Portfolios: The Funding Optionality Value of Being Part of an Index	Jocelyn Evans, College of Charleston, United States	evansj@cofc.edu
4E3	Eastern Halloween Effect: A Stochastic Dominance Approach	Ya LI, Open University of Hong Kong, Hong Kong S.A.R.	yali@ouhk.edu.hk
5A1	Lending Relationship and the Transmission of Liquidity Shocks: Evidence from a Liquidity Crunch in China	Qing He, School of Finance, Renmin University of China, China	qinghe@ruc.edu.cn
5A2	Do Off-Balance-Sheet Activities Reduce Systemic Risk? Evidence from Listed Commercial Banks in China	Henry Leung, University of Sydney, Australia	henry.leung@sydney.edu.au
5A3	Parasitic Shadow Banking of Non-Financial Firms: Arbitrage Between Formal and Informal Credit Markets in China	Julan Du, Chinese University of Hong Kong, Hong Kong S.A.R.	julan.du@foxmail.com
5B1	For Whom the Levy tolls: The Case of a Macroprudential Stability Levy in South Korea	JaeBin Ahn, Seoul National University, Korea	jaebin.ahn@gmail.com
5B2	Governance of Financial Sector Policies in the Post-Crisis Era	Katia D'Hulster, The World Bank, United States	kdhulster@worldbank.org
5B3	The Impact of Bank Supervision on Corporate Credit: Evidence from Syndicated Loan Reviews	James Wang, Federal Reserve Board, United States	james.z.wang@frb.gov
5C1	Inter-Industry FDI Spillovers from Foreign Banks: Evidence in Follower Countries	Shusen Qi, Xiamen University, China	shusenqi@xmu.edu.cn
5C2	Comovement and Contagion in Commodity Markets	Rangga Handika, Tokyo International University, Japan	rhandika@tiu.ac.jp
5C3	Time-Varying Government Bond Market Integration in Asia: Dependency and Connectedness	Piyush Pandey, Shailesh J Mehta School of Management IIT Bombay, India	piyush@som.iitb.ac.in
5D1	Is an Informative Stock Price Used Less in Incentive Contracts?	Peter Swan, University of New South Wales, Australia	peter.swan@unsw.edu.au
5D2	Deleveraging, Market Liquidity, and Funding Liquidity Crisis: Evidence from a Natural Experiment	Buhui Qiu, University of Sydney, Australia	buhui.qiu@sydney.edu.au
5D3	Tunneling through Group Trademarks	Sojung Kim, Korea University, Korea	sjkim5280@gmail.com
5E1	Passive Trading and Performance: A Quasi Natural Experiment Using the Stock Exchange Merger in Japan	Kazuo Yamada, Ritsumeikan University, Japan	k-yamada@fc.ritsumei.ac.jp
5E2	Do Intraday Auctions Improve Market Liquidity?	Zhou Zhou, University of Sydney, Australia	z.zhou@sydney.edu.au
5E3	Round-Number Biases on Trading Time: Evidence from International Markets	Tao Chen, University of Macau, Macau	torochen@um.edu.mo
6A1	Economic Uncertainty and Bank Risk: Evidence from Emerging Economies	Bang Nam Jeon, Drexel University, United States	jeonbana@drexel.edu
6A2	Bank FX Hedging Needs and the Impact on Covered Interest Parity, An Emerging Market Perspective	Georgia Bush, Bank of Mexico, Mexico	gbush@banxico.org.mx
6A3	Global Shock and Foreign Bank Lending: Choice of Home and Local Currency Loans in Indonesia	Yuki Masujima, Bloomberg L.P., Japan	ymasujima@bloomberg.net
6B1	Banks Capital, Risks and Profitability at European Banks	Valerio Pesic, University La Sapienza of Rome, Italy	valerio.pesic@uniroma1.it
6B2	Credit Risk Assessment in Real Estate investment Trusts: A Perspective on Blockholding and Lending Networks	Masayasu Kanno, Nihon University, Japan	kanno.masayasu@nihon-u.ac.jp
6B3	The Impact of Loan-Loss-Provision Regulation on Credit: Evidence from Administrative Data in Chile	Mauricio Calani, Central Bank of Chile, Chile	mmcalani@gmail.com
6C1	Flight to Quality - Gold Mining Shares versus Gold Bullion	Dirk Baur, University of Western Australia, Australia	dirk.baur@uwa.edu.au
6C2	Contagion or Interdependence? Comparing Signed and Unsigned Spillovers	Raisul Islam, University of Tasmania, Australia	raisul.islam@utas.edu.au
6C3	Monetary Transmission in Money Markets: A Divisia Component Investigation	Victor Valcarcel, University of Texas at Dallas, United States	vjv150130@utdallas.edu
6D1	What Drives the Declining Wealth Effect of Subsequent Share Repurchase Announcements?	Hardjo Koerniadi, Auckland University of Technology, New Zealand	hardjo.koerniadi@aut.ac.nz
6D2	Political Connections and Firms’ Access to Finance: An Inter-Institutional Perspective	Chunxia Jiang, Business School, University of Aberdeen, United Kingdom	chunxia.jiang@abdn.ac.uk
6D3	Managerial Heterogeneity in Risk-Taking Incentives: How Does It Affect Firm Risk and Performance?	Thao Hoang, Australian National University, Australia	thao.hoang@anu.edu.au
6E1	The Changing Role of Foreign Investors in Tokyo Stock Price Formation	Clinton Watkins, Graduate School of Economics, Kobe University, Japan	watkins@econ.kobe-u.ac.jp
6E2	The Pricing Implications of the Oligopolistic Securities Lending Market: A Beneficial Owner Perspective	Zsuzsa Huszar, Central European University, Hungary	HuszarZs@ceu.edu
6E3	IEX’s Speed Bump and Its Effect on Adverse Selection	Zhe Peng, Wilfrid Laurier University, Canada	peng6020@mylaurier.ca
7A1	Interbank Network Characteristics, Monetary Policy "News" and Sensitivity of Bank Stock Returns	Amine Tarazi, University of Limoges and IUF France, France	tarazi@unilim.fr
7A2	Old-Boy Networks, Capital Injection, and Banks' Returns: Evidence from Japanese Banks	David Vera, California State University, Fresno, United States	dvera@csufresno.edu
7A3	Betting Against Bank Profitability	Md Akhtaruzzaman, Australian Catholic University, Australia	Md.Akhtaruzzaman@acu.edu.au
7B1	Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions	Anya Kleymenova, University of Chicago Booth School of Business, United States	Anya.Kleymenova@chicagobooth.edu
7B2	Why Is Financial Misconduct Procyclical?	Tim Kooijmans, Monash University, Australia	tim.kooijmans@monash.edu
7B3	The Impact of TARP Capital Infusions on Bank Liquidity Creation: Does Bank Size Matter?	Chen Zheng, Curtin University, Australia	Chen.Zheng@curtin.edu.au
7C1	Death and the Life Hereafter- A Study of Relaunched Hedge Funds	Juan Yao, University of Sydney, Australia	juan.yao@sydney.edu.au
7C2	The Volcker Rule and the Hedge Fund Circle of Liquidity	Lijie Yu, Alliance Manchester Business School, United Kingdom	lijie.yu@postgrad.manchester.ac.uk
7C3	Hedge Fund Activism and Capital Structure	Abhishek Ganguly, Indiana University, United States	abhigang@iu.edu
7D1	Acquisitions and Cost of Debt: Evidence from China	Kun (Tracy) Wang, Australian National University, Australia	kun.wang@anu.edu.au
7D2	Post-M&A Performance and Failure: Implications of Time Until Deal Completion	Ephraim Thompson, Korea University, Korea	kwatom002@korea.ac.kr
7D3	Overlapping Insiders and Method of Payment in Acquisitions: New Tests and Evidence on Adverse Selection	Varun Jindal, Indian Institute of Management Calcutta, India	varunj14@iimcal.ac.in
7E1	Institutional Shareholder Distraction and Stock Price Crash Risk	Svetlana Orlova, University of Tulsa, United States	svo053@utulsa.edu
7E2	Can Illiquidity Be Priced in an Active Secondary Market? Theory and Evidence	Pallab Dey, University of New South Wales, Australia	p.dey@unsw.edu.au
7E3	Time for Dinner? No, for Risk Contraction	Ekaterina Serikova, University of St. Gallen (HSG), Switzerland	ekaterina.serikova@unisg.ch
8A1	The Impact of the Dodd-Frank Act on Small Business	Rebel Cole, Florida Atlantic University, United States	coler@fau.edu
8A2	The Optimal Look-Back Period for Adequate and Less Procyclical Credit Capital Forecasts	Yongwoong Lee, Hankuk University of Foreign Studies, Korea	ywlee@hufs.ac.kr
8A3	Can Repatriation Tax Holidays Teach us Something about Monetary Policy Transmission?	Esteban Argudo Valverde, Vassar College, United States	eargudo@vassar.edu
8B1	Determinants of Banks’ Liquidity: A French Perspective on Market and Regulatory Ratio interactions	Cyril Pouvelle, Bank of France, France	cyril.pouvelle@acpr.banque-france.fr
8B2	Internal Credit Risk Models and Bank Return: Should Regulators Restrict the Use of Internal Models?	Victoria Boehnke, University of Münster, Germany	victoria.boehnke@wiwi.uni-muenster.de
8B3	When It Pays to Borrow If Downgraded: Firm Credit Ratings and the Basel II Accord	Panagiotis Politsidis, University of Sydney, Australia	panagiotis.politsidis@sydney.edu.au
8C1	Collateral Enforcement and Strategic Behavior: Evidence From a Foreclosure Moratorium in Greece	Nikolaos Artavanis, Virginia Tech, United States	nartavan@vt.edu
8C2	The Size and Ownership of Private Credit Bureaus	Artashes Karapetyan, ESSEC, France	karapetyan@essec.edu
8C3	Regulatory Reform, Multiple Credit Ratings and the Quality of the Corporate Information Environment	He Huang, University of Sydney, Australia	he.huang@sydney.edu.au
8D1	Corporate Propensity to Dissave	Alexander Vadilyev, Australian National University, Australia	alexander.vadilyev@anu.edu.au
8D2	Shareholder Litigation and Readability in Financial Disclosures: Evidence from a Natural Experiment	Lin Ge, University of Mississippi, United States	lge@bus.olemiss.edu
8D3	Asymmetric Reactions of Abnormal Audit Fees Jump to Credit Ratings Changes	June Cao, Macquarie University, Australia	june.cao@mq.edu.au
8E1	How Does Market Behave Around the Aggressive Orders?	Barbara Bedowska-Sójka, University of Economics and Business, Poznan, Poland	barbara.bedowska-sojka@ue.poznan.pl
8E2	Can Fast and Slow Liquidity Providers Co-Exist in Modern Equity Markets?	Arseny Gorbenko, University of New South Wales, Australia	a.gorbenko@unsw.edu.au
8E3	Does Exposure to Product Market Competition Discipline or Spur Insider Trading?	Dewan Rahman, University of Queensland, Australia	d.rahman@business.uq.edu.au