Best paper in Banking:
David Hong, The University of Edinburgh, UK
“Strategic bank consolidations: Intangible capital channel”, 8A3
Best paper in Financial Stability:
Xiaoyu Zhang, Central University of Finance and Economics, China
“Accountable developers, accessible homes: Regulatory pathways to expanding home ownership”, 3G1
Best PhD paper:
Minli Yu, The University of Groningen, Netherlands
“The cross-border effect of monetary policy on house price expectations”, 6F1
5E3: “Arbitrage effectiveness and stablecoin run” Ravi Joshi, Louisiana State University, USA
8C1: “Profit shifting from services and manufacturing: Double tax treaties and general anti-avoidance rule” Anna Białek-Jaworska, University of Warsaw, Poland
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 in practice: the role of the Reserve Bank of Australia
Sumit Agarwal is Low Tuck Kwong Distinguished Professor of Finance at the Business School and a Professor of Economics and Real Estate at the National University of Singapore (NUS). He is the Managing Director of Sustainable and Green Finance Institute at NUS. He is also the President of Asian Bureau of Finance and Economic Research. In the past, he has held positions as a Professor of Finance at the Business School, Georgetown University. Before that he was a senior financial economist in the research department at the Federal Reserve Bank of Chicago and prior to joining the Chicago Fed, he was a senior vice president and credit risk management executive in the Small Business Risk Solutions Group of Bank of America. Sumit’s research interests include issues relating to household sustainablity, financial institutions, household finance, behavioral finance, and real estate markets. He has published over one hundred and twenty five research articles in economics and finance journals among others. Additionally, he has co-written six books titled Why We Feel Blue When the Air is Grey , Kiasunomics 3, Introduction to Household Financial Management , Kiasunomics 2, Household Finance: A Functional Approach , and Kiasunomics , and also co-edited two collected volumes titled Impact of COVID-19 on Asian Economies and Policy Responses, and Household Credit Usage: Personal Debt and Mortgages. He writes regular op-ed’s in the Straits Times and is featured on various media outlets like the CNA, BBC, CNBC, and Fox on issues relating to finance, banking, and real estate markets. Sumit’s research is widely cited in leading newspapers and magazines like the Wall Street Journal, The New York Times, The Economist, and the U.S Presidents Report to Congress. He also runs a Podcast on household financial decision making called Kiasunomics.
Title of Address: Humans, Machines, and the Art of Regulation
Robert Faff (FASSA, 2021-24) is Research Professor at Corvinus University of Budapest, Emeritus Professor at UQ and Honorary Adjunct Professor at Bond University. He has an international reputation in empirical finance research: 15 Australian Research Council grants (funding $4 million+); 370+ refereed journal publications – 50 x A* (ABDC); career citations 24,000+, with a h-index of 76 (Google Scholar). His particular passion is nurturing the career trajectories of early career researchers. Robert has supervised almost 50 PhD students to successful completion. Building on a 40-year+ academic career, his signature focus is “Pitching Research” [https://ssrn.com/abstract=2462059], with worldwide penetration signalled by: (a) > 29,000 SSRN downloads; (b) > 400 pitching talks/events; (c) at 37 Australian universities; (d) spanning 54 different countries. Further, he is the Founder & President of the InSPiR2eS research network [https://pitchingresearch.com/inspir2es-network/] and creator of the InSPiR2eS Centre for Responsible Science. In addition, Robert is current Editor-in-Chief of Pacific-Basin Finance Journal; formerly: Editor of Accounting and Finance (2002-2011).
Title of Address: Professor Faff presented a speech (via Zoom) on "Pre-registered Research Matters! and PBFJ publishing tips"
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.
| Session No |
Title | Presenter |
| 1A1 | Credible commitment and the cost of venture debt | Giang Nguyen, Macquarie Business School, Australia |
| 1A2 | Stock market spillovers via bank-financing linkage | Bo Sang, University of Bristol, UK |
| 1A3 | If this doesn’t stop you, the next crisis might: Assessing banks’ (un)willingness to learn from financial crises | Dennis Dreusch, Otto-von-Guericke University Magdeburg, Germany |
| 1B1 | Information frictions inside a bank: Evidence from borrower switching between branches | Shusen Qi, Xiamen University, China |
| 1B2 | Leveraging technology expertise in venture capital screening: Evidence from start-up competitions | Su Wang, ShanghaiTech University, China |
| 1B3 | Pay transparency and risk appetite: Evidence from mortgage lending decisions | Mengdi Zhang, Hong Kong Polytechnic University, Hong Kong SAR |
| 1C1 | How fintech innovations and financial inclusion can impact loan business cycle | Ilinka Antova, Sofia University, Bulgaria |
| 1C2 | Prior lending relationships and the effectiveness of commitments in sustainability-linked loans | Amine Tarazi, Université de Limoges, France and Institut Universitaire de France (IUF), France |
| 1C3 | Investor composition and loan default dynamics in fintech: The role of borrower risk and loan characteristics during crisis periods | Stephen Fan, University of Sydney, Australia |
| 1D1 | Do expressions of national sentiments secure firms’ government procurements? | Donghui Li, Shenzhen university (China), China |
| 1D2 | Political spending disclosure and corporate payouts | Swadip Bhattacharjee, University of Wollongong, Australia |
| 1D3 | Do consumers spend their money where their votes are? Ideology distance and local sales | Lei Chen, University of Melbourne, Australia |
| 1E1 | Estimating gains from trade in financial markets | Robert Gaudiosi, Macquarie University, Australia |
| 1E2 | Lottery preference and factor investing | Liyao Wang, Hong Kong Baptist University, Hong Kong SAR |
| 1E3 | Unrealized trading gains | Chuck Fang, Drexel University, USA |
| 1F1 | The dark side of ESG information: Evidence from corporate investment | Jieying Hong, Beihang University, China |
| 1F2 | Strategic timing as a signal? Market reactions to voluntary ESG disclosure | Yuqing Duan, University of Auckland, New Zealand |
| 1F3 | Credit risk analysis for ESG-ETFS | Masayasu Kanno, Nihon University, Japan |
| 1G1 | The growing index effect in the corporate bond market | Sean Seunghun Shin, KAIST, Korea |
| 1G2 | Central clearing and cross-market price discovery in the credit markets | Seongjin Kim, State University of New York at Plattsburgh, USA |
| 1G3 | Key talents in asset valuation: Measurement through procurement competition | Di Tian, Hong Kong University of Science and Technology, Hong Kong SAR |
| 2A1 | Does finance promote new firm creation and growth? Evidence from regional data in Japan | Yuji Honjo, Chuo University, Japan |
| 2A2 | Learning about other depositors through earnings calls | Sunjin Park, Hongik University, Korea |
| 2A3 | Deposit rate in dual banking market: The impact of bank reputation and switching costs | Diyan Lestari, University of Wollongong, Australia |
| 2B1 | How do banks respond to their auditors' misconduct? Evidence from the 2017 KPMG-PCAOB audit inspection scandal | Chunbing Cai, National University of Singapore, Singapore |
| 2B2 | Digitized invoices and credit availability: Hard information effects in small business lending | Yunyue Chen, Ghent University and NYU, Belgium |
| 2B3 | Banking with nonbank funding: the role of CLOS in bank risk management | Santiago Barraza, ESCP Business School, Italy |
| 2C1 | Does digital finance affect firms’ accounting policy? Evidence from china | Erik Wang, Lingnan University, Hong Kong SAR |
| 2C2 | AI's double-edged sword: investment, data, and the risk of default | Yajun Xiao, Xi'an Jiaotong-Liverpool University, China |
| 2C3 | AI adoption, knowledge capital, and the rise of superstar firms | Varsha Madheshiya, University of Technology Sydney, Australia |
| 2D1 | Shareholder activism: affliction for incumbent CEOs? | Jiaqi Zhao, University of Warwick, UK |
| 2D2 | The wages of austerity: Executive pay caps and the quiet life | Sophie Wang, University of Canterbury, New Zealand |
| 2D3 | Innovation failure and CEO compensation | Omar Zidan, University of Ottawa, Canada |
| 2E1 | Price delay specific to firm-specific information and anomalies | Raj Parajuli, Monash University, Australia |
| 2E2 | Mimicking pre-pead: the predictive power of mispricing scores | Tiancheng Lan, Curtin University, Australia |
| 2E3 | Historical low and long-term return reversals | Bai-Sian Chen, Chang Gung University, Taiwan |
| 2F1 | To disclose, or not to disclose: Evaluating the effectiveness of mandatory climate-related disclosure | Sebastian Gehricke, University of Otago, New Zealand |
| 2F2 | Canaries in the coal mine: Firm response to biodiversity policy risk | Ricardo Pena, University of Texas at Austin, USA |
| 2F3 | Biodiversity protection policy and housing markets: Supply, demand, and speculation | Maxwell Sacher, University of Texas at Austin, USA |
| 2G1 | Revisiting the relationship between unemployment and mortgage arrears rates in Australia | Haidari Yad, Reserve Bank of Australia, Australia |
| 2G2 | Central bank balance sheet size, net interest income, and policy rate amplification | Kachovec Joseph, Reserve Bank of Australia, Australia |
| 2G3 | Firms resilience scenarios: earnings growth over the business cycle | Galluzzi Alessio, Reserve Bank of Australia, Australia |
| 3A1 | Geopolitics meets monetary policy: Decoding their impact on cross-border bank lending | Előd Takáts, Bank for International Settlements, Switzerland |
| 3A2 | The impact of banks' interest rate risk on monetary policy transmission | Ozlem Dursun de Neef, Monash University, Australia |
| 3A3 | A geopolitical shock to bank assets and monetary policy transmission | Bjorn Imbierowicz, Deutsche Bundesbank, Germany |
| 3B1 | Impact of increased regulatory focus on CEO pay and bank risk | Hengguo Da, SWUFE, China |
| 3B2 | Impact of Shadow Banking on Bank Stability with Moderator of Ownership | Ishaq Bhatti, Universiti Brunei Darussalam, Brunei |
| 3B3 | The unintended consequences of the TCJA on bank transparency | Yanju Liu, Hong Kong Baptist University, Hong Kong SAR |
| 3C1 | The truth of silence: Bad signal of no analyst report | Jiahao Shi, Tsinghua University, China |
| 3C2 | Data privacy risk | Daxuan Cheng, Macquarie University, Australia |
| 3C3 | Yesterday's enemy is today's friend: Innovation externalities, follow-on innovation, and insider sales | Baek-Chun Kim, National Chengchi University, Taiwan |
| 3D1 | Monitoring, agency costs, and seasoned equity offerings | Nadia Massoud, Melbourne Business School, University of Melbourne, Australia |
| 3D2 | Private debt financing and product market expansion | Davide Sinno, Monash Business School, Australia |
| 3D3 | Contagion effects of equity financing announcements within business groups | Varun Jindal, Indian Institute of Management Bangalore, India |
| 3E1 | When the watchdog speaks: which SEC press releases truly move stock prices? | Xiaorui Zhang, The University of Western Australia, Australia |
| 3E2 | What do $40 trillion of portfolio holdings say about monetary policy transmission? | Kairong Xiao, Columbia Business School, USA |
| 3E3 | Leveraging large language models for equity valuation: Uncovering alpha and factor drivers | Yih-Wen Shyu, Chang Gung University, Taiwan |
| 3F1 | The role of government contracting in corporate environmental policies | Wendi Huang, University of Manchester, UK |
| 3F2 | Climate change exposure: Does CSR committee quality matter? | Md Humayun Kabir, University of Otago, New Zealand |
| 3F3 | Phantom of the supply chain: Unintended blocks on the road to green | Ziran Zuo, Nankai University, China |
| 3G1 | Accountable developers, accessible homes: Regulatory pathways to expanding home ownership | Xiaoyu Zhang, Central University of Finance and Economics, China |
| 3G2 | Overstaying their welcome: COVID-19, unevictable tenants, rents, and home prices | Artem Joukov, Wenzhou-Kean University, USA |
| 3G3 | Expansion of informal finance and household behavior | Jianfei Zhu, University of Hong Kong, Hong Kong SAR |
| 4A1 | The geopolitics of global infrastructure finance: How political alignment shapes cross- border lending and contractual governance | Lulu Pan, Hong Kong Polytechnic University, Hong Kong SAR |
| 4A2 | Global air connectivity and syndicated loan structuring | Yan Li, University of Hong Kong, China |
| 4A3 | Global banking networks and loan pricing | Ayoung Park, Financial Supervisory Service, Korea |
| 4B1 | The long and short of U.S. bank regulations: From the great depression to the 2023 bank failures | Sami Mahmood, National University of Singapore, Singapore |
| 4B2 | Deposit insurance and discretion in loan loss provisioning | Rong Yang , Rochester Institute of Technology, USA |
| 4B3 | Economic opportunity costs: Banking access and educational (dis)investment | Yuqi Chang, National University of Singapore, Singapore |
| 4C1 | Making better workplaces? The impact of digital finance on corporate employee treatment | Junshi Chen, Massey University, New Zealand |
| 4C2 | Clean politics, lean cash: Party newspaper-based anti-corruption effort and corporate cash management | Lexuan Chen, University of Auckland, New Zealand |
| 4C3 | Does restricting incumbent management in bankruptcy resolution affect efficiency | Nithin Mannil, London School of Economics and Political Science, UK |
| 4D1 | Disclosure and acquirer announcement returns | Jia Feng, Monash University, Australia |
| 4D2 | Passive ownership and M&A decisions | Mareeswaran M, Queens University Belfast, India |
| 4D3 | CEO power and dispersion of acquirer returns | Ning Gong, Deakin University, Australia |
| 4E1 | Divide and diversify: Redesigning portfolio foundations via structured basis and covariance geometry | Peng Zhou, Kings College London, UK |
| 4E2 | How do ETFs make firms larger? | Yunqi Zhang, Nankai University, China |
| 4E3 | Direct and indirect stockholdings | Gosia Ryduchowska, BI Norwegian Business School, Norway |
| 4F1 | SOE premium in China’s green bond market | Juan Tao, Xi'an Jiaotong-Liverpool University, China |
| 4F2 | Managing reputational risk arising from clients: How media scrutiny drives the inclusion of environmental covenants along bank's lending networks | Ying Mao, Lingnan University, Hong Kong SAR |
| 4F3 | Climate transition risks in Chile's banking industry: A loan-level stress test | Francisco Pinto, Central Bank of Chile, Chile |
| 4G1 | Are "arbitrageurs" less biased in practice? Evidence from the cryptocurrency market | Yanlin Bao, Singapore Management University, Singapore |
| 4G2 | The market for block space: A microstructure lens on decentralized payment networks | Luca Galati, Ludwig Maximilian University of Munich, Germany |
| 4G3 | Decompose market manipulation strategies: Evidence from on-chain meme coin market | Wenzhi Ding, Hong Kong Polytechnic University, Hong Kong SAR |
| 5A1 | When the heat is local: Inflation, investor demand, and shadow banking | Mingmei Liu, Jinan University, China |
| 5A2 | Revenge of the S&Ls: How banks lost a half trillion dollars during 2022 | Rebel Cole, Florida Atlantic University, USA |
| 5A3 | When silicon valley meets wall street: A theory of financial overengineering | Jun Aoyagi, Hong Kong University of Science and Technology, Hong Kong SAR |
| 5B1 | Investigating the effects of firm-level waste management on bank lending decisions: Evidence from the US syndicated loan market | Searat Ali, University of Wollongong, Australia |
| 5B2 | A win-win loan contract in profit uncertainty | John Chu, Monash University, Australia |
| 5B3 | Business inflation exposure and bank lending | Andrei Zlate, Federal Reserve Board, USA |
| 5C1 | The geographic spillover of director knowledge: Evidence from environmental and social incidents | Tat-Kei Lai, IESEG School of Management, France |
| 5C2 | Indebted to nature: Corporate biodiversity endowment and bond market reactions | Yizheng Li, University of Auckland, New Zealand |
| 5C3 | Social media reactions to product announcements and competitive response | Yuanfang Chu, Chinese University of Hong Kong, Hong Kong SAR |
| 5D1 | The echoes of muted political speech in financial speech | Janghoon Shon, University of New South Wales, Australia |
| 5D2 | Power, scrutiny, and congressmen's favoritism for friends' firms | Quoc-Anh Do, Monash University, Australia |
| 5D3 | The value of a politically connected board member: Evidence from determinants and influence of revolving door lobbyist hires | Shuliu Hu, University of Nebraska-Lincoln, USA |
| 5E1 | Look who's watching: Repeated investor attention and stock price dynamics | Liyun Chen, University of New South Wales, Australia |
| 5E2 | Microstructure of automated market maker: Optimal liquidation and speculative arbitrage | Jun Liu, University of Tasmania, Australia |
| 5E3 | ||
| 5F1 | The economics of decarbonization commitments | Quentin Moreau, The Hong Kong University of Science and Technology, Hong Kong SAR |
| 5F2 | Financing decarbonization - The role of indonesian banks in the transition to a carbon-neutral economy | Hygea Marwany, Vrije Universiteit Amsterdam, Indonesia |
| 5F3 | From disaster to debt: Exploring the link between natural disasters and syndicated loans | Robert Durand, Curtin University, Australia |
| 6A1 | How bank transparency affects banks in financial crises | Yehning Chen, National Taiwan University, Taiwan |
| 6A2 | Banking on culture: Customer culture and U.S. bank performance | Leonid Pugachev, University of Missouri - St. Louis, USA |
| 6A3 | Loan loss reserve coverage, unwrapped: Enhancing bank risk assessment and market discipline | Vladimir Kotomin, Illinois State University, USA |
| 6B1 | AI meets banks: The key to reducing risk | Junru (Alex) Zhang, University of Western Australia, Australia |
| 6B2 | Covenant AI - New insights into covenant violations | Sascha Steffen, Frankfurt School of Finance & Management, Germany |
| 6B3 | Global banking stability, financial development, and growth: Broad-based evidence from fintech credit flows | Hai Hong Trinh, VinUniversity, Vietnam, Vietnam |
| 6C1 | The cultural origin of gender gaps in pay and mobility: Evidence from canada | Kieu-Trang Nguyen, University of Melbourne and Northwestern University, Australia |
| 6C2 | A unified approach to spillovers: Evidence from media tone | Ivan Indriawan, University of Adelaide, Australia |
| 6C3 | Corporate innovation, macroeconomic risk, and stock returns | Adelphe Ekponon, University of Ottawa -Telfer School of Management, Canada |
| 6D1 | Government subsidies and analyst directional inconsistency | Venura Welagedara, Deakin University, Australia |
| 6D2 | Government influence on corporate blockchain disclosures | Xiaoyang Li, The Hong Kong Polytechnic University, Hong Kong SAR |
| 6D3 | Beyond patent ownership: learning about technological usefulness | Rory Mullen, University of Warwick, UK |
| 6E1 | Knowledge spillover, market efficiency, and innovation disclosure: Role of the insider trading | Yunju Cha, National Chengchi University, Taiwan |
| 6E2 | Viral but vanishing: Investment advisors, social media, and regulation | Peter Bossaerts, University of Cambridge, UK |
| 6E3 | Pass-through mutual funds, flow of funds, and low-risk anomaly | Seokwoo Lee, University of Maryland, USA |
| 6F1 | The cross-border effect of monetary policy on house price expectations | Minli Yu, University of Groningen, Netherlands |
| 6F2 | The real estate channel of unconventional monetary policy | Iichiro Uesugi, Hitotsubashi University, Japan |
| 6F3 | Granular level spillover effect and indian dominant firms: What does the data reveal? | Piyali Dutta, Indian Institute of Technology Kanpur, India |
| 7A1 | Do brokered deposits change a bank's risk profile? | Karan Bhanot, UT-San Antonio, USA |
| 7A2 | Government bank lending and corporate investment during a crisis: Evidence from Japan | Takeshi Yamada, Australian National University, Australia |
| 7A3 | Correlated investment exposure of commercial banks: The case of CMBS | Rebel Cole, Florida Atlantic University, USA |
| 7B1 | Bank's regulatory risk tolerance | Mikael Juselius, Bank for International Settlements, Hong Kong SAR |
| 7B2 | Subordinates in charge: Does delegation improve banking supervision | Di Gong, University of International Business and Economics, China |
| 7B3 | Bank tax and deposit competition: evidence from US state taxes | Guangqian Pan, University of Sydney, Australia |
| 7C1 | Cyberattacks and operational transitions: Talk the talk or walk the walk? | Nhan Huynh, Griffith University, Australia |
| 7C2 | Protecting workers, transforming work: The impact of paid sick leave mandates on IT investment | Jin Huang, Xi'an Jiaotong-Liverpool University, China |
| 7C3 | Climate risk awareness and corporate green decisions | Md Akhtaruzzaman, Australian Catholic University, Australia |
| 7D1 | Complementarities in information acquisition: Evidence from mandatory portfolio disclosures | Raja Reddy Bujunoori, Indian School of Business, India |
| 7D2 | How to properly compute credit default swap returns | Le Kang, Northwest University, China |
| 7D3 | Decomposing partisan optimism: Ideological alignment or blind party loyalty? | Deniz Okat, University of Technology Sydney, Hong Kong SAR |
| 7E1 | Retail investor attention and mutual fund performance: Evidence from edgar log files | Hao Ding, University of Oxford, UK |
| 7E2 | Do institutional investors trade on covenant violations? | Paulina Verhoff, Frankfurt School of Finance & Management, Germany |
| 7E3 | Outcomes, risk taking and incentives: Evidence from asset managers | Francisco Santos, Norwegian School of Economics, Norway |
| 7F1 | Vulnerability and contagion in the US equity mutual funds | Huyen Nguyen, University of Le Mans, France |
| 7F2 | Information spillovers, funding liquidity, and financial stability | Levent Altinoglu, Federal Reserve Board, USA |
| 7F3 | Information acquisition and the finance-uncertainty trap | Ding Dong, Hong Kong Baptist University, Hong Kong SAR |
| 8A1 | Going the distance: Banking (on) relationships, applicant demographics, and credit access | Leonid Pugachev, University of Missouri - St. Louis, USA |
| 8A2 | Bank CEOs' financial distress experience and risk inertia in risk-taking | Hedda Cui, University of Sydney, Australia |
| 8A3 | Strategic bank consolidations: Intangible capital channel | David Hong, University of Edinburgh, UK |
| 8B1 | Macroprudential stress testing for climate change shocks: A case study of the indonesian banking system | Aditya Taruna, Australian National University, Australia |
| 8B2 | Talk and the city: How far to trust bankers (not) calling for bailout? | Thomas Gehrig, University of Vienna, Austria |
| 8B3 | Banks' liquidity demands under unconventional monetary policies in Japan | Takeshi Osada, Saitama University, Japan |
| 8C1 | ||
| 8C2 | Penalties for corporate misconduct and tax avoidance | Pappu Dey, University of Newcastle, Australia |
| 8C3 | Geopolitical risk in global supply chain: Evidence from Russo-Ukrainian war | Gu Yinglin, University of Sydney, Australia |
| 8D1 | Nonlinear mispricing and predictability in event contingent claims: Evidence from sports betting markets | Dulani Jayasuriya, University of Auckland, New Zealand |
| 8D2 | The prospective book-to-market ratio and expected stock returns | Mike Dong, UC Riverside, USA |
| 8D3 | Equity trading activity around the world | Xiyuan Ma, Singapore Management University, Singapore |
| 8E1 | Cryptocurrency contagion: A filtered comparison and post pandemic events analyses | Rangga Handika, Tokyo International University, Japan |
| 8E2 | Fintech exposure, financial skills, and non-users: Evidence from millions of supermarket transactions | Leo Bao, Monash University, Australia |
| 8E3 | Biased AI-feed exacerbates disposition effect - Evidence from ETF market of china | Yue Ding, Business School of Macquarie University, Australia |
| 8F1 | Interconnectedness and systemic risk in financial networks: evidence from india | Harshit Kumar Sharma, Indian Institute of Technology Kanpur, India |
| 8F2 | Non-bank financial intermediation and transmission of systemic risk | Yanru Lee, The Hoover Institution, Stanford University, USA |
| 8F3 | Dynamics of monetary policy regimes in china under global uncertainty: A time-varying approach | Eunyoung Oh, Kookmin University, Korea |
Should you have any questions, please contact [email protected].