Click here to download a pdf version of the program.

Program

Summer Institute of Finance Conference

July 14 - 15, 2024

Xi’an·China

Key Locations

Conference Hotel: the Westin Xi’an on 66 Ci En Road, Qu Jiang New District
Conference Reception July 13 (4:00-6:00 pm): Lobby (tbc)
Conference Reception July 14-15: Yong Ning Room, B2
Cocktail Reception July 13: Time Tunnel, B2 (right next to Qujiang Museum of Fine Arts)
Academic Sessions July 14-15: Yong Ning Room, B2
Lunch and Keynote Speech July 14: Zhu Que Room, B2
Dinner July 14: tbd
Lunch July 15: Seasonal Tastes, G

 

 Saturday, July 13

Cocktail Reception: 6:00PM - 8:00PM

 

 Day One. Sunday, July 14. 8:25AM - 5:50PM

Welcome and Opening Remarks
8:25AM-8:30AM
Hong Yan, Deputy Dean for Faculty and Research, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University

Session 1: ESG and Investments
8:30AM - 10:10AM
Session Chair: Chu Zhang, Hong Kong University of Science and Technology

8:30AM - 9:20AM
How Anti-ESG Pressure Affects Investment: Evidence from Retirement Savings
Jane Danyu Zhang, University of California, Los Angeles
Presenter: Jane Danyu Zhang, University of California, Los Angeles
Discussant: Ai He, University of South Carolina

9:20AM - 10:10AM
Active Fund Management when ESG Matters
Doron Avramov, Reichman University
Si Cheng, Syracuse University
Andrea Tarelli, Catholic University
Presenter: Si Cheng, Syracuse University
Discussant: Kai Li, Peking University

Coffee Break: 10:10AM - 10:40AM

Session 2: Politics in Research and Firm Value
10:40AM - 12:20PM
Session Chair: Harold Zhang, University of Texas--Dallas

10:40AM - 11:30AM
The Politics of Academic Research
Matthew C. Ringgenberg, University of Utah
Chong Shu, University of Utah
Ingrid M. Werner, The Ohio State University
Presenter: Chong Shu, University of Utah
Discussant: Pingle Wang, University of Texas at Dallas

11:30AM - 12:20PM
The Labor Impact of Generative AI on Firm Values
Andrea Eisfeldt, University of California, Los Angeles
Gregor Schubert, University of California, Los Angeles
Bledi Taska, SkyHive
Miao Ben Zhang, University of Southern California
Presenter: Miao Ben Zhang, University of Southern California
Discussant: Jan Bena, University of British Columbia

Lunch 12:20PM - 2:00PM

12:30PM - 1:00 PM
Keynote Speech: Expected Returns and Large Language Models
Dacheng Xiu, The University of Chicago

Session 3: Special Session A: AI and ML in China and the World
2:00PM - 3:40PM
Session Chair: Hong Yan, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University

2:00PM - 2:50PM
Large Language Models and Return Prediction in China
Lin Tan, Tsinghua University
Huihang Wu, Tsinghua University
Xiaoyan Zhang, Tsinghua University
Presenter: Lin Tan, Tsinghua University
Discussant: Fuwei Jiang, Central University of Finance and Economics

2:50PM - 3:40PM
ChatGPT, Stock Market Predictability and Links to the Macroeconomy
Guohao Tang, Hunan University
Guofu Zhou, Washington University in St. Louis
Jian Chen, Xiamen University
Wu Zhu, Tsinghua University
Presenter: Wu Zhu, Tsinghua University
Discussant: Yuehua Tang, University of Florida

Coffee Break 3:40PM - 4:10PM

Session 4: Special Session B: AI and ML in China and the World
4:10PM - 5:50PM
Session Chair: Jun Tu, Singapore Management University and Shanghai Jiatong University

4:10PM - 5:00PM
The Rise of E-Wallets and Buy-Now-Pay-Later: Payment Competition, Credit Expansion, and Consumer Behavior
Wenlong Bian, Sungkyunkwan University
Lin William Cong, Cornell University
Yang Ji, Sun Yat-sen University
Presenter: Yang Ji, Sun Yat-sen University
Discussant: Jiasun Li, George Mason University

5:00PM - 5:50PM
Teaching Economics to the Machines
Chen Hui, Massachusetts Institute of Technology
Cheng Yuhan, Shandong University
Liu Yanchu, Sun Yat-sen University
Tang Ke, Tsinghua University
Presenter: Tang Ke, Tsinghua University
Discussant: Qunzi Zhang, Shandong University

Dinner: 6:30PM

 

 Day Two. Monday, July 15. 8:30AM - 12:20PM

Session 5: Exchange Rates and Incentive for Traders
8:30AM - 10:10AM
Session Chair: Hongjun Yan, DePaul University

8:30AM - 9:20AM
A Model of Procyclical Exchange Rates
Qiushi Huang, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University
Leonid Kogan, Massachusetts Institute of Technology
Dimitris Papanikolaou, Northwestern University
Presenter: Qiushi Huang, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University
Discussant: Xiang Fang, University of Hong Kong

9:20AM - 10:10AM
Incentive for Traders: Ideal and Heuristic Contracts
Xuecan Cui, Southwestern University of Finance and Economics
Philip H. Dybvig, Washington University in St. Louis
Presenter: Xuecan Cui, Southwestern University of Finance and Economics
Discussant: Yizhou Xiao, Chinese University of Hong Kong

Coffee Break: 10:10AM - 10:40AM

Session 6: Predictability
10:40AM - 12:20PM
Session Chair: Raymond Kan, University of Toronto

10:40AM - 11:30AM
Are Memes a Sideshow: Evidence from Wall Street Bets
Linmei Huang, Baruch College, The City University of New York
Bill Qiao, Baruch College, The City University of New York
Dexin Zhou, Baruch College, The City University of New York
Presenter: Bill Qiao, Baruch College, The City University of New York
Discussant: Gang Li, Chinese University of Hong Kong

11:30AM - 12:20PM
Mosaics of Predictability
Lin William Cong, Cornell University
Guanhao Feng, City University of Hong Kong
Jingyu He, City University of Hong Kong
Yuanzhi Wang, City University of Hong Kong
Presenter: Jingyu He, City University of Hong Kong
Discussant: Jian Chen, Xiamen University

Lunch: 12:20PM - 2:00PM