2016-Peking University HSBC Business School(PHBS)

Interbank Market Freezes and Creditor Runs

We model the interplay between trade in the interbank market and creditor runs on nancialinstitutions We show

Xuewen Liu, Hong Kong University of Science and Technology

Wednesday, May 4, 2016 | 2:00pm-3:30pm |Room 335, HSBC Business School Building

Keywords: Interbank market, creditor runs, insolvency risk, illiquidity risk, global games

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Capturing the Value of R&D Failures: How Firms Can Cut Research Costs and Speed Innovation

In a world of hypercompetition and commoditization, innovation is crucially important for the success and survival of organizations Indeed, the vast majority of top executives consider innovation to be one of their companies’ top strategic priorities

Aviad Aba Pe’er, Rutgers Business School--Newark and New Brunswick

Wednesday, April 27, 2016 | 2:00pm-3:30pm |Room 335, HSBC Business School Building

Keywords: R&D failures, Research costs, Speed innovation

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Reducing User Avoidance of Sponsored Search Results: The Effects of Social Influence Cues

Online sponsorships are commonly applied in search engines to promote the links of sponsors (e g , links to their products and websites)

Weiquan Wang, City University of Hong Kong

Tuesday, April 26, 2016 | 3:00pm-4:30pm |Room 331, HSBC Business School Building

Keywords: Online sponsorships, Sponsored search results

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Government Intervention, Land Market, and Urban Development: Evidence from Chinese Cities

This paper investigates how government intervention in land market affects China s urban development, using data from prefecture-level cities between 2000 and 2010

Jipeng Zhang,Southwestern University of Finance and Economics

Wednesday, April 20, 2016 | 2:00pm-3:30pm |Room 331, HSBC Business School Building

Keywords: Land market, Housing supply; Government intervention, Urban development, Chinese economy

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The Value of Relationship Banking: Evidence from Interbank Liquidity Crunch in China

Using an event study of the interbank liquidity crunch in June 2013 in China, we investigate how lending relationships affect the market reactions of the borrowing firms during the interbank liquidity crunch

Liping Lu, VU University Amsterdam

Thursday, April 14, 2016 | 2:00pm-3:30pm |Room 335, HSBC Business School Building

Keywords: Lending relationship, Interbank liquidity crunch, Local banks

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Googling Investor Sentiment around the World

We study how investor sentiment affects stock markets around the world Relying on the Google search behavior of households, we construct a weekly search-based measure of sentiment for 40 countries during the 2004–2014 period

Bohui Zhang, UNSW Australia

Wednesday, April 6, 2016 | 2:00pm-3:30pm |Room 335, HSBC Business School Building

Keywords: Sentiment, Google search, International markets, Limits to arbitrage, Co-movement

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Geographic Concentration of Institutions, Corporate Governance, and Firm Value

We examine the impact of geographic concentration of institutional investors on corporate governance and firm value

Jun-Koo Kang, Nanyang Business School/Nanyang Technological University

Thursday, March 31, 2016 | 11:00am-12:30pm |Room 331, HSBC Business School Building

Keywords: Geographic concentration, corporate governance, Institutional investors, Firm value, CEO turnover, Proxy voting, Liquidity

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Does Financial Regulation Matter? The Case of the US 1934 Securities Exchange Act

The Securities and Exchange Acts of 1933 1934 are the first nationwide public laws of financial regulation in the world These laws are implemented with the aims of making information disclosure mandatory and market manipulation illegal

Bo Zhao, the University of Hong Kong

Wednesday, March 9, 2016 | 2:00pm-3:30pm |Room 331, HSBC Business School Building

Keywords: 1934 Exchange Act, Idiosyncratic volatility, Mandatory disclosure

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The Academic Source of the Labor Market Beauty Premium

Many empirical studies show a robust labor market beauty premium, which surprisingly, is larger for men than women, and moreover, in fields where beauty should not be related to productivity, e g , software engineering

David Ong, PHBS

Tuesday, March 1, 2016 | 2:00pm-3:30pm |Room 331, HSBC Business School Building

Keywords: Beauty premium, Labor market discrimination, College admission, 2d:4d, Testosterone

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Bayesian Semi-Parametric Realized-CARE Models for Tail Risk Forecasting Incorporating Range and Realized Measures

A new model framework called Realized Conditional Autoregressive Expectile (Realized-CARE) is proposed, through incorporating a measurement equation into the conventional CARE model, in a manner analogous to the Realized-GARCH model

Chao Wang, University of Sydney

Wednesday, February 24 | 2:00pm-3:30pm |Room 335, HSBC Business School Building

Keywords: Expectile, Realized variance, Realized range, Subsampling, Markov chain monte carlo, Value-at-Risk, Expected shortfall

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