Preliminary Program
Summer Institute of Finance Conference
July 15 - 16, 2019, Ningbo, China


Sunday, July 14
Registration: 3:00PM - 6:00PM
      Location: Lobby, Shangri-La Hotel Ningbo, 88 Yuyuan Street, Ningbo, Zhejiang, China
Reception: 6:00PM - 8:00PM
      Location: Mingzhou PDR Room, 33F, Shangri-La Hotel Ningbo
Day One. Monday, July 15. 8:30AM - 5:50PM

Conference Venue: Yongcheng No.1 Hall (Junior Ball Room 1), Shangri-La Hotel Ningbo

Session Chair: Hong Yan
Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University


Session: Uncertainty
8:30AM - 10:10AM

8:30AM - 9:20AM
Ambiguity and Information Processing in a Model of Intermediary Asset Pricing
Leyla Jianyu Han, The University of Hong Kong
Kenneth Kasa, Simon Fraser University
Yulei Luo, The University of Hong Kong
Presenter: Leyla Jianyu Han, The University of Hong Kong
Discussant: Erica Li, Cheung Kong Graduate School of Business

9:20AM - 10:10AM
Premium for Heightened Uncertainty: Solving the FOMC Puzzle
Grace Xing Hu, The University of Hong Kong
Jun Pan, Massachusetts Institute of Technology
Jiang Wang, Massachusetts Institute of Technology
Haoxiang Zhu, Massachusetts Institute of Technology
Presenter: Grace Xing Hu,The University of Hong Kong
Discussant: Yang Liu,The University of Hong Kong

Coffee break: 10:10AM - 10:40AM

Session: News
10:40AM - 2:50PM

10:40AM - 11:30AM
Background Noise? TV Advertising Affects Real Time Investor Behavior
Jura Liaukonyte, Cornell University
Alminas Zaldokas, Hong Kong University of Science and Technology
Presenter: Alminas Zaldokas, Hong Kong University of Science and Technology
Discussant: Chao Jiang, University of South Carolina

11:30AM - 12:20PM
News Momentum
Hao Jiang, Michigan State University
Sophia Li, Rutgers Business School
Hao Wang, Prime Quantitative Research
Presenter: Sophia Li, Rutgers Business School
Discussant: Xiaomeng Lu, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University

Lunch: 12:20PM - 2:00PM    Lunch Talk by Prof. Kewei Hou, The Ohio State University

Session Chair: Kewei Hou, The Ohio State University

Session: Institutionalization and Bank Runs
2:00PM - 3:40PM

2:00PM - 2:50PM
Institutionalization, Delegation, and Asset Prices
Shiyang Huang, The University of Hong Kong
Zhigang Qiu, Renmin University of China
Liyan Yang, University of Toronto
Presenter: Shiyang Huang, The University of Hong Kong
Discussant: Harold Zhang, The University of Texas at Dallas

2:50PM - 3:40PM
A Dynamic Model of Systemic Bank Runs
Xuewen Liu, Hong Kong University of Science and Technology
Presenter: Xuewen Liu, Hong Kong University of Science and Technology
Discussant: Liyan Yang, University of Toronto

Coffee break 3:40PM - 4:10PM

Session: Private Firms
4:10PM - 5:50PM

4:10PM - 5:00PM
Do Private Firms (Mis) Learn from the Stock Market?
Dong Yan, Stockholm School of Economics
Presenter: Dong Yan, Stockholm School of Economics
Discussant: Claire Hong, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University

5:00PM - 5:50PM
Private Company Valuations by Mutual Funds
Vikas Agarwal, Georgia State University
Brad Barber, University of California, Davis
Si Cheng, The Chinese University of Hong Kong
Allaudeen Hameed, National University of Singapore
Ayako Yasuda, University of California, Davis
Presenter: Si Cheng, The Chinese University of Hong Kong
Discussant: Chloe Yang, Fanhai International School of Finance, Fudan University

Dinner: 6:30PM

Day Two. Tuesday, July 16. 8:30AM - 12:20PM

Session Chair: Harold Huibing Zhang, The University of Texas at Dallas

Session: P2P Lending
8:30AM - 10:10AM

8:30AM - 9:20AM
Social Interactions and Peer-to-Peer Lending Decisions
Linda Allen, Baruch College, City University of New York
Lin Peng, Baruch College, City University of New York
Yu Shan, Baruch College, City University of New York
Presenter: Lin Peng, Baruch College, City University of New York
Discussant: Cong Wang, The Chinese University of Hong Kong, Shenzhen

9:20AM - 10:10AM
The Effect of Secondary Market Liquidity on Primary Market Liquidity: A Natural Experiment in Peer-to-Peer Lending
Craig Holden, Indiana University
Mingfeng Lin, Georgia Institute of Technology
Kai Lu, University of Science and Technology of China
Zaiyan Wei, Purdue University
Jun Yang, Indiana University
Presenter: Kai Lu, University of Science and Technology of China
Discussant: Bohui Zhang, The Chinese University of Hong Kong, Shenzhen

Coffee break: 10:10AM - 10:40AM

Session: Anomalies
10:40AM - 12:20PM

10:40AM - 11:30AM
Replicating Anomalies in China
Fang Qiao, PBC School of Finance, Tsinghua University
Presenter: Fang Qiao, PBC School of Finance, Tsinghua University
Discussant: Xintong Zhan, The Chinese University of Hong Kong


11:30AM - 12:20PM
Financialization and Commodity Market Serial Dependence
Zhi Da, University of Notre Dame
Ke Tang, Tsinghua University
Yubo Tao, Singapore Management University
Presenter: Ke Tang, Tsinghua University
Discussant: Jun Li, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University

Lunch: 12:20PM - 2:00PM