2017 - Peking University HSBC Business School(PHBS)

Does Corporate Investment Respond to Time-Varying Risk? Empirical Evidence

I test whether firms take time-varying risk into account in their capital budgeting decisions The challenge to this test lies in measuring a conditional cost of equity

Yongjin Kim, City University of Hong Kong

Wednesday, May 10, 2017 | 2:00pm-3:30pm | Room 329, HSBC Business School Building

Keywords: Corporate investment, Time-Varying risk

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Janus-Faced Nostalgia: Sentimentalism and the Market

Since the late 1990s, a growing number of films and television dramas with a nostalgic tint have mushroomed

Jing Meng, University of Nottingham Ningbo China

Wednesday, May 3, 2017 | 2:00pm-3:30pm | Room 333, HSBC Business School Building

Keywords: Janus-Faced nostalgia, Sentimentalism

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How Long Should You Stay at a Financial Job: Are Men and Women Different?

Using the career histories from LinkedIn data, this paper investigates whether the gender differences in representation and quit probabilities in the finance industry is related to gender difference in preference for competition

Shuo Yan, Southern University of Science and Technology

Thursday, April 27, 2017 | 2:00pm-3:30pm | Room 337, HSBC Business School Building

Keywords: Gender difference in competition, Rank and yank, Quit probabilities, LinkedIn

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Socializing at Work: Evidence from a Field Experiment with Manufacturing Workers

Through a field experiment at a seafood-processing plant, I examine how working alongside friends affects employee productivity and how this effect is heterogeneous with respect to an employee’s non-cognitive skills

Sangyoon Park, The University of Hong Kong

Wednesday, April 5, 2017 | 2:00pm-3:30pm | Room 329, HSBC Business School Building

Keywords: Field experiment, Manufacturing Workers

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The Modigliani-Miller Second Proposition Is Dead; Long Live the Second Proposition

By using the binomial option pricing model, this paper proves that with no arbitrage and no transaction costs

Kuo-Ping Chang, Xi'an Jiao Tong University

Wednesday, March 29, 2017 | 2:00pm-3:30pm | Room 335, HSBC Business School Building

Keywords: The arbitrage theorem, Capital structure irrelevancy

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Bubbles and House Price Dispersion in the United States during 1975-2007

We investigate the rapid growth in the dispersion of housing prices across metropolitan statistical areas (MSAs) in the United States during 1975-2007

Shenghao Zhu, National University of Singapore

Monday, March 27, 2017 | 3:30pm-5:00pm | Room 331, HSBC Business School Building

Keywords: The cross-sectional dispersion of housing prices, Excessive dispersion, Bubbles

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Employer Loan Choices to Employees and the Profitability of Small, Labor-Intensive Firms

At small and medium sized enterprises (SMEs), cash-strapped employees frequently request loans from employers because they cannot obtain money on reasonable terms elsewhere for exigent needs

Mathew Hayward, Monash University

Monday, March 27, 2017 | 2:00pm-3:30pm | Room 333, HSBC Business School Building

Keywords: Employer loan choices

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Trade Reforms, Structural Changes and Current Account Imbalances

This paper presents a dynamic Hechscher-Ohlin model that can discuss the effects of a permanent shock such as a tariff cut on structural changes and current account balance We make three contributions

Kang Shi,

Wednesday, March 22, 2017 | 4:00pm-5:30pm | Room 337, HSBC Business School Building

Keywords: Trade reform, Dynamic H-O model, Current account imbalance, Capital flow

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Relative Value Hedge Funds: A Quantitative Modelling of Financial, Economic, and Statistical Risk Factors

This paper has three contributions to the literature First, it analyzes the risk characteristics for 11 Relative Value hedge fund strategies

Mick Swartz, University of Southern California

Wednesday, March 22, 2017 | 2:00pm-3:30pm | Room 337, HSBC Business School Building

Keywords: Relative value, Hedge fund, Factor models, Risk factors, Macroeconomic indicators

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Non-harmonised Mandatory Standards as Non-Tari Barriers: Experience from Japanese Imports

The WTO TBT agreement has been promoting a harmonisation of national standards with relevant international standards worldwide since 1995 Such a harmonisation of the standards may reduce trade costs stem from the differences between national standards

Naohiko Ijiri, Nihon University

Monday, March 20, 2017 | 2:00pm-3:30pm | Room 337, HSBC Business School Building

Keywords: International standards, Harmonisation, Mandatory statutes, International trade

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