Aim of SBFC

Our primary objective in organising this conference is to foster a platform where international academics can gather, interact, and exchange their latest insights in the fields of banking, financial system stability, and other pertinent subjects within financial studies. By facilitating this forum, we aim to prioritise collaborative endeavours in addressing the most pressing and contemporary issues concerning banking and financial stability. Furthermore, we aspire to contribute to public policy discussions on how to enhance our collective framework and fortify the resilience of the financial system for the future.

Keynote Speakers

Ms. Andrea Brischetto

Ms. Andrea Brischetto

Head of Financial Stability Department in the Financial System Group, The Reserve Bank of Australia

Andrea Brischetto is Head of Financial Stability Department at the Reserve Bank of Australia. Prior to that she spent three years as Deputy Head of the Domestic Markets Department at the Reserve Bank. Andrea has also previously been the Deputy Secretary of the Reserve Bank and worked in the Reserve Bank’s Economic Group, International Department and Payments Policy Department. She holds an MSc in Economics from the London School of Economics and a First Class Bachelor of Economics from the University of Queensland.

Title of Address: Financial Stability and the Financial Health of Australian Mortgagors

The audio of the speech and the report are available at the RBA web site .

Anthony Saunders

Professor Anthony Saunders

John M. Schiff Professor of Finance, NYU Stern

Anthony Saunders is the John M. Schiff Professor of Finance at NYU Stern. Professor Saunders received his Ph.D. from the London School of Economics and has taught both undergraduate and graduate level courses at NYU since 1978. Throughout his academic career, his teaching and research have specialized in financial institutions and international banking. He has served as a visiting professor all over the world, including INSEAD, the Stockholm School of Economics, and the University of Melbourne.

Professor Saunders holds positions on the Board of Academic Consultants of the Federal Reserve Board of Governors as well as the Council of Research Advisors for the Federal National Mortgage Association. In addition, Dr. Saunders has acted as a visiting scholar at the comptroller of the Currency and at the Federal Monetary Fund. He is an editor of the Journal of Banking and Finance and the Journal of Financial Markets, Instruments and Institutions, as well as an associate editor of eight other journals, including Financial Management and the Journal of Money, Credit and Banking. His research has been published in all of the major finance and banking journals and in several books. He has just published a new edition of his textbook, Financial Institutions Management: Risk Management Perspective for McGraw-Hill (4th edition) as well as a 2nd edition of his book on Credit Risk Measurement for John Wiley & Sons (with Linda Allen).

Title of Address: Corporate Loan Spreads And Economic Activity 


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.

Title Author
1A1 Endogenous Bank-Firm Matching: Time-variation and Effects Han Zhou, Monash University, Australia
1A2 Monitoring with Small Stakes Sheila Jiang, University of Florida , USA
1A3 Stay Connected, Stay Financed: Evidence from Global Network of Air Links and Syndicated Loans Zigan Wang, Tsinghua University, China
1B1 Funding Liquidity Creation by Banks Edison Yu, Federal Reserve Bank of Philadelphia, USA
1B2 Volume Dynamics Around FOMC Announcements Xingyu Sonya Zhu, Bank for International Settelemts, Switzerland
1B3 Unconventional Credit Policies During Crises: A Structural Analysis of the Chilean Experience During the COVID-19 Pandemic Mario González, Central Bank of Chile, Chile
1C1 Monitoring Fintech Firms: Evidence from the Collapse of Peer-to-Peer Lending Platforms Maggie Rong Hu, Chinese University of Hong Kong, Hong Kong SAR
1C2 Bring the Shadow to the Light: Market Uncertainties and Too-Big-to-Fail Perception Zongyuan Li, Wenzhou Kean University, China
1C3 Bank Technology Adoption and Loan Production in the U.S Mortgage Market Douglas Xu, University of Florida , USA
1D1 Bond Ownership Concentration Eduard Inozemtsev, University of Melbourne, Australia
1D2 Does Employer’s Ownership Matter for Analyst’s Earning Forecast Accuracy? Yifei (Viola) Miao, Monash University, Australia
1D3 Does Market Transparency Keep the Bear Asleep? Implications of Short Selling Disclosure on the Lending Market and Corporate Behaviors Geoffrey Ducournau, Tsinghua University, China
1E1 Dispersion Across CLOs on Marking Corporate Loans Yafei Zhang, University of Manchester, UK
1E2 Informed Investors and Underpricing in Municipal Bond Offerings Viet-Dung Doan, Hong Kong Baptist University, Hong Kong SAR
1E3 Who uses Fintech products: Evidence from the pay-on-demand market Andrew Grant, University of Sydney, Australia
1F1 Analysis of Three Decades of Systemic Risk Evolution in the USA: A Comprehensive Commentary Tianqi Luo, Trinity College Dublin, Ireland
1F2 Stagflationary Stock Returns and the Role of Market Power Yannick Timmer, Federal Reserve Board, USA
1F3 When the Long is Long and the Short is Short Lifang Li, Xi’an Jiaotong University, China
2A1 Global Banking Systems, Financial Stability and Uncertainty: How have countries coped with Geopolitical Risk? Hai Hong Trinh, Massey University, New Zealand
2A2 Lending Standards Dispersion Phong T. H. Ngo, Australian National University, Australia
2A3 Negative Interest Rates and Bank Credit Risk-Taking Zixuan Dai, University of South Australia, Australia
2B1 Internal Capital Markets motives: the case of insurance groups Eric Vansteenberghe, Bank of France, France
2B2 Learning from Prices, Credit Cycles and Macroprudential Policies Yeow Hwee Chua, Nanyang Technological University, Singapore
2B3 Bank Bailouts and Competitive Distortions Giovanni Cardillo, University of Bologna, Italy
2C1 The Impact of Fintech on Banking: Evidence from Banks’ Partnering with Zelle Yajun Xiao, Jiaotong-Liverpool University, China
2C2 CBDC and the Shadow of Bank Disintermediation: US Stock Market Insights on Threats and Remedies Paul F. Hark, University of Münster, Germany
2C3 Neobank Prosperity and Covid Impacts --- an International Study Melissa Xu, Hong Kong Polytechnic University, Hong Kong SAR
2D1 Regulation-Induced CSR Jing Xu, University of Technology Sydney, Australia
2D2 The CSR Puzzle: Decrypting its influence on Financial Distress in India Priya Dhawan, Indian Institute of Technology, India
2D3 Mandatory ESG Disclosure and Financial Contracts Yehwan Lee, Korea Advanced Institute of Science and Technology, Korea
2E1 Liquidity Asymmetry Under Variation in Short Selling Regimes: A Study under Non-Market-Wide Crisis Settings Pallab Dey, University of New South Wales, Australia
2E2 Mark-up Disclosure Rule and its Effects on Trading Costs in the Municipal Bond Market Yu He, University of Nebraska–Lincoln, USA
2E3 Information Choices and Dynamic Institutional Trading Cycles Te-Feng Chen, Hong Kong Polytechnic University, Hong Kong SAR
2F1 Assessing the Common Characteristics of Australian Banks Connor Butterfield, Reserve Bank of Australia, Australia
2F2 Stress Testing Indebted Households Amelia Gao, Reserve Bank of Australia, Australia
2F3 Assessing Climate Risk in Repo-eligible RMBS Geordie Reid, Reserve Bank of Australia, Australia
3A1 Nothing Special about an Allowance for Corporate Equity: Evidence from Italian Banks Dennis Dreusch, Otto-von-Guericke University, Germany
3A2 A Tale of Two Market Disciplines: How does Bank Financial Misconduct Affect Peer Banks in the Local Deposit Market Yang Qiu, Chinese University of Hong Kong, Hong Kong SAR
3A3 The Shadow Cost of Collateral Guangqian Pan, University of Sydney, Australia
3B1 Basel III Joint Regulatory Constraints: Interactions and Implications for the Financing of the Economy Cyril Pouvelle, Bank of France, France
3B2 Effects of Bank Capital Requirements on Lending by Banks and Non-Bank Financial Institutions Natalja Von Westernhagen, Deutsche Bundesbank, Germany
3B3 The Theory of Bank Resolution: Does the Bail-in Work Urs Lendermann, Deutsche Bundesbank University of Applied Sciences, Germany
3C1 Does an Exclusive Relationship with Government Banks Matter During Climate Shocks? Harish Kamal, Indian Institute of Management, India
3C2 Corporate Social Responsibility and Bank Liquidity Creation during Financial Crises Wei-Da Chen, Fu Jen Catholic University, Taiwan
3C3 Green versus Sustainable Loans: The Impact on Frms' ESG Performance H. Özlem Dursun-de Neef, Monash University, Australia
3D1 How does Declining worker Power Affect Investment Sensitivity To Minimum wage? DuckKi Cho, University of Sydney, Australia
3D2 Employee Rights and Investment Cash Flow Sensitivity Thuy To, University of New South Wales, Australia
3D3 Location Matters: The Impact of Local Air Quality on CEO Compensation Structure Mark Humphery-Jenner, University of New South Wales, Australia
3E1 ETF Shorting Activity, Return Predictability and Information EffIciency of Underlying Securities Jiayuan Chen, University of Melbourne, Australia
3E2 Security Lending Market, Secondary Market Arbitrageurs, and ETF Mispricing Bochen Wu, University of Melbourne, Australia
3E3 Navigating Inflation Risk in Corporate Bond Markets: Evidence from Mutual Funds Han Xiao, Chinese University of Hong Kong, Shenzhen, China
3F1 The Information Content in Credit Default Swap Trading and Simultaneous Bondholding: Evidence from Insurance Companies Gaiyan Zhang, University of Missouri-St. Louis, USA
3F2 Fails Charge and Liquidity Spillovers Mikhail Bhatia, Hong Kong University of Science and Technology, Hong Kong SAR
3F3 CEO Narcissism and Dividend Policy Moon Deok Park, Korea Advanced Institute of Science and Technology, Korea
4A1 Bank Tax and Deposit Competition: Evidence from U.S. State Taxes Alessio Galluzzi, University of Sydney, Australia
4A2 Stablecoins and Central Bank Digital Currencies: Friends or Foes? Giovanni Cardillo, University of Bologna, Italy
4A3 The Cost of Financial Intermediation in Australia Indeewari U. Colombage, University of Western Australia, Australia
4B1 Public-Guaranteed Loans, Bank Risk-Taking and Regulatory Capital Windfall Eric Vansteenberghe, Bank of France, France
4B2 Accounting vs. Prudential Disclosure - An Empirical Analysis of Credit Institutions in the Context of Valuation and Impairments Andreas Igl, University of Applied Sciences of Deutsche Bundesbank, Germany
4B3 Macroprudential Policy Leakage through Firms Björn Imbierowicz, Deutsche Bundesbank, Germany
4C1 Banks’ Private Money Creation and Market Preferences: Evidence from Banks’ Commercial Paper Issuance Mostafa Aghasian, Université Paris-Dauphine, France
4C2 Sea Level Rise Risk and Mortgage Lending Standards Chengbo Fu, University of Northern British Columbia, Canada
4C3 Crypto Market Turbulence Simon Rudkin, University of Manchester, UK
4D1 Trade Credit within a Business Group Jinzhao Du, University of New South Wales, Australia
4D2 Geopolitical Risk and Corporate Political Spending Disclosure Swadip Bhattacharjee, University of Wollongong, Australia
4D3 Global Insolvency and Cross-border Capital Flows Ji Hyun Tak, University of New South Wales, Australia
4E1 Institutional investor cliques and ESG performance: Evidence from Chinese firms Cheng Xiang, Chongqing University, China
4E2 Carbon Beta: A Market-Based Measure of Climate Transition Risk Exposure Dries Laurs, Vrije Universiteit Amsterdam, Netherlands
4E3 Riding the Wave of Responsibility: Evidence from China’s Mutual Funds Zhuang Zhuang, Zhejiang Gongshang University, China
4F1 The Disciplinarity of Finance Journals Gabriele Sampagnaro, University of Naples Parthenope, Italy
4F2 Asset Market Liquidity, Strategic Complementarity, and Bond Fund Flows Xiaolu Hu, Royal Melbourne Institute of Tec, Australia
4F3 How Does Corruption Culture Affect Financial Professionals? Evidence from Financial Advisor Zhe An, Monash University, Australia
5A1 The Geography of Bank Deposits and the Origins of Aggregate Fluctuations Seongjin Park, University of Chicago, USA
5A2 Unsecured Loans and Intangible Investment Yoshiaki Ogura, Waseda University, Japan
5A3 Measuring Bank-Level Uncertainties Using Text Mining S. M. Woahid Murad, Curtin University, Australia
5B1 Market Reactions to the Announcements of Financial Risk Regulation from Basel II.5 to Basel IV: What Do Shareholders and Creditors Perceive? Jonas Krettek, Heinrich Heine University Düsseldorf, Germany
5B2 Output Floors in Setting Bank Capital Requirements Adrian Pop, University of Nantes, France
5B3 Bank Capital and Liquidity Risk: Influence of Crisis and Regulatory Intervention David Tripe, Massey University, New Zealand
5C1 Does Climate Policy Uncertainty Affect a Firm’s Lease Versus Buy Decision? Fahim Sultanbawa, University of Queensland, Australia
5C2 Assessing the Impact of Carbon Emissions on Firm Default Risk: A Global Perspective Masayasu Kanno, Nihon University, Japan
5C3 Firms’ Climate Risks and Bank Lending: Evidence from the COVID-19 Crisis Masayo Shikimi, Nagasaki University, Japan
5D1 The Role of Employees as Information Intermediaries: Evidence from Their Professional Connections Lyungmae Choi, City University of Hong Kong, Hong Kong SAR
5D2 Personal Network, Board Structure and Corporate Fraud in Japan Takeshi Osada, Saitama University, Japan
5D3 Spiraling Downward: The Real Impacts of Public Short Campaigns on Product Innovation Claire Liu, University of Sydney, Australia
5E1 Unveiling Effective Monitors: Institutional Investors' Identity and its Impact on Firms' Earnings Management Practices Amrit Panda, Indian Institute of Management Sambalpur, India
5E2 Passive Demand and Active Supply: Evidence from Maturity-mandated Corporate Bond Funds Tiange Ye, University of Southern California, USA
5E3 Institutional Investors, Political Uncertainty and Stock Prices Chunxiao Lu, University of Melbourne, Australia
5F1 Do Pensions Have Real Teeth? Evidence from the State Government Borrowing Costs Ting Zhang, University of Dayton, USA
5F2 Social Media Sentiment, Investor Herding and Informational Efficiency Ni Yang, Auckland University of Technology, New Zealand
5F3 Friends versus Funding: Unpacking the Dynamics of Social Connections and Staged Financing in VC Investment Fanqi Meng, University of Melbourne, Australia
6A1 Competition and Shrouded Attributes: Evidence from the Indirect Auto Loan Market Morteza Momeni, University of Kentucky, USA
6A2 Stock Mispricing and Dual Holders’ Loan Pricing Yun-Soo Kim, Korea Advanced Institute of Science and Technology, Korea
6A3 Information on Hot Stuff: Do Lenders Pay Attention to Climate Risk? Mandeep Singh, University of Sydney, Australia
6B1 Pro or Counter cyclical Buffers of Quality Capital: US bank holding companies Barry Williams, Monash University, Australia
6B2 How Binding is Supervisory Guidance? Evidence from the European Calendar Provisioning Gabriele Lattanzio, University of Melbourne, Australia
6B3 Unpacking the Impact of CRR Regulation on NPL Dynamics in EU Banks Inga Urbonaviciute, Vilnius Univeristy, Lithuania
6C1 Before Thrive, First Survive: The Impact of Controlling Shareholder Pledging on Corporate ESG Performance Yun Ling, City University of Macau, Macau
6C2 Appointing Charity Directors in Response to ESG Incidents Yuyang Zhang, University of Melbourne, Australia
6C3 CEO Experience and Value Creation: Evidence from Green Lab Locations Leo Liu, University of Techonlogy Sydney, Australia
6D1 To Tell or Not to Tell? Examining Voluntary Disclosure of Customers’ Identities under Capital Market Pressure Ting Zhang, University of Dayton, USA
6D2 The Product Market Consequences of Corporate Bankruptcy Sergio Rocha, Monash University, Australia
6D3 Bank CEO Compensation to Enhance Stability Ikuo Takei, Asia School of Business, Malaysia
6E1 Cross-Firm Information in Analyst Reports Kotaro Miwa, Kyushu University, Japan
6E2 Nonlinear Dependence and Households’ Portfolio Decisions over the Life Cycle Shize Li, Hong Kong University of Science and Technology., Hong Kong SAR
6E3 Volatility Risks Implied From Short Term VIX Futures Guanglian Hu, University of Sydney, Australia
6F1 Agreeing to Disagree: Informativeness of Sentiments in Internet Message Boards Yang Gao, Huazhong University of Science and Technology, China
6F2 CEO Initial Contract Horizon and the Design of Private Debt
Wenbin Hu, University of Queensland, Australia
6F3 The Impact of Corporate Social Responsibility (CSR) on Financial Performance and Distress Risk in a Highly Mobile Workforce Ruiqi Mao, University of Sydney, Australia
7A1 The Industry Expertise Channel of Mortgage Lending Zhanbing Xiao, University of British Columbia, Canada
7A2 Spatially Targeted LTV Policies and Collateral Values Chun-Che Chi, Academia Sinica, Taiwan
7A3 Corporate Noncompliance: Do Corporate Violations Affect Bank Loan Contracting? Ali Sheikhbahaei, Monash University, Australia
7B1 Heterogenous Response of Credit Conditions Esteban Argudo, Vassar College, USA
7B2 Too Big to Rush Deniz Okat, Hong Kong University of Science and Technology, Hong Kong SAR
7B3 Balance of Rights of Liquidity Supply and Demand John C. Chu, Monash University, Australia
7C1 Religiosity and Board Structure: Board of Advising and Monitoring Yuning Chen, Kean University, USA
7C2 Shareholders Conflict on Board: Shareholder Appointed Directors’ Pre Board Voting Private Bargaining and Director Voice in Voting James Qi Wang, University of New South Wales, Australia
7C3 Board Gender Diversity and Bank Efficiency: International Evidence Qiongbing Wu, Western Sydney University, Australia
7D1 What Do CDO Tranche Spreads Tell Us About Credit Availability and Credit Rating Standards? Alexander David, University of Calgary, Canada
7D2 Stochastic Social Preferences and Corporate Investment Decisions Jin Yu, Monash University, Australia
7D3 How Informationally Efficient is the Options Market? Carlo Sala, Universitat Ramon Llull, Spain
7E1 The Global Implied Volatility Surface, Convexity, and Common Predictability of International Equity Premia Terry Zhang, Australian National University, Australia
7E2 Taking Sides: Political Alignment and Municipal Bond Yield Weijia Zhao, Northwestern University, USA
7E3 Abnormal Investment and Time-Varying Monitoring Shahram Amini, University of Denver, USA
7F1 A Tale of Two Tightenings Yundi Lu, University of Texas at Dallas, USA
7F2 Inflation Risk and the Finance-Growth Nexus Jincheng Tong, University of Toronto, Canada
7F3 The Impact of Sovereign Risk on International Capital Flows Peilin Cai, Shenzhen University, China
8A1 The Opioid Epidemic and Mortgage Lending: Credit or Demand Shock? Kody Law, Cornell University, USA
8A2 Invisible Discriminatory Lending ? Executive Gender and Loan Financial Covenants Yifan  Zhou, University of Leicester, UK
8A3 The EU Taxonomy and the Syndicated Loan Market Jing Yu, University of Sydney, Australia
8B1 Credit Rating under Ambiguity Christian Hilpert, Sun Yat-sen University, China
8B2 Bank Asset Problem and Financial Stability John C. Chu, Monash University, Australia
8B3 Banking Structures, Liquidity and Macroeconomic Stability David Hong, University of Edinburgh, UK
8C1 Security Offerings Following the COVID-19 Pandemic: Do Traditional Corporate Finance Theories Still Hold? Qing Wang, Monash University, Australia
8C2 Access to Debt and Corporate Environmental Performance: Evidence from Anti-Recharacterization Laws Ning Gong, Deakin University, Australia
8C3 The Corporate Financing Implications of Bond Mutual Fund Fragility George Baihan Wang, Monash University, Australia
8D1 Short-Term Consumption Patterns Between Financially Exposed and Robust Individuals: Impact of Interest Rate Changes During and After COVID-19 Endre J. Reite, Norwegian University of Science and Technology, Norway
8D2 Political Divide and the Composition of Households’ Equity Portfolios Elena S. Pikulina, University of British Columbia, Canada
8D3 The Effect of Home Ownership on Consumption: Evidence from Housing Lotteries in China Yiqing Lu, New York University Shanghai, China
8E1 Herd Dynamics Around the Russo-Ukraine War and Covid-19 Pandemic Azhar Mohamad, International Islamic University Malaysia, Malaysia
8E2 Cryptocurrencies: Hedging or Financialization? Rangga Handika, Universitas Indonesia, Indonesia
8E3 The Value of Economic Regularization for Stock Return Predictability Laleh Samarbakhsh, Toronto Metropolitan University, Canada
8F1 Bi-objective Cost-sensitive Machine Learning: Predicting Stock Return Direction Using Option Prices Robert James, University of Sydney, Australia
8F2 Firm-Level Labor-Shortage Exposure Qiyang He, University of Sydney, Australia
8F3 Follow the Pipeline: Anticipatory Effects of Proposed Regulations Alejandro Lopez-Lira, University of Florida, USA