*December 14, Renaissance Harbour View Hotel Hong Kong, 8F Concord Room Ⅱ-Ⅲ
*December 15, HKU iCube, Hong Kong (4005-07, 40/F, Two Exchange Square, Central, Hong Kong)
Sunday, December 14
| 12:40 ~ 18:00 | Registration |
| 13:40 ~ 15:10 | FISK Session Ⅰ |
| 15:10 ~ 15:25 | Coffee Break |
| 15:25 ~ 17:00 | FISK Session Ⅱ |
| 17:00 ~ 18:00 | Poster Session for Students |
| 18:00 ~ 19:30 | Reception |
Monday, December 15
| 07:30 ~ 17:00 | Registration |
| 08:20 ~ 09:50 | Session 1: Blockchain, Currency, and Central Banking |
| Session 2: Large Language Models | |
| 09:50 ~ 10:10 | Coffee Break |
| 10:10 ~ 11:40 | Session 3: Technology and Innovation |
| Session 4: AI, Corporate Finance, and Governance | |
| 11:50 ~ 13:00 | Lunch |
| 13:00 ~ 13:50 | Award Ceremony |
| Keynote Speech Session: Keynote Lecture "Pricing the Global Trade Vulnerability" by Prof. Jun Pan (SAIF) | |
| 14:00 ~ 15:30 | Session 5: AI and Return Predictability |
| Session 6: Market Microstructure and Derivatives | |
| 15:30 ~ 15:50 | Coffee Break |
| 15:50 ~ 17:20 | Session 7: Information and Efficiency |
| Session 8: Issues in Asset Pricing and Asset Management | |
| 18:00 ~ 20:00 | Dinner: Conference Farewell Dinner (Invited only) |
December 14, 13:40 ~ 15:10
FISK Session Ⅰ
Chair : Eunjung Yeo (Chung-Ang University)
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Daewoung Choi1 Jieun Im2 Min Jung Kang3 Hojong Shin4 1: University of Washington 2: Hansung University 3: University of Michigan 4: California State University |
ESG Reputational Risk in Family Firms: Evidence from Korean Chaebols | Shu-Feng Wang (Ajou University) |
|
Taeyeon Kim1 Hyoseok (David) Hwang2 Hyun-Dong Kim3 and Han Wu3 1: The Catholic University of Korea 2: University of Wisconsin at Eau Claire 3: Sogang University |
Common Ownership and Credit Risk: Evidence from Credit Default Swaps | Dohyun Chun (Kangwon National University) |
| Wonho Cho (Kwangwoon University) | Investment sentiment in the Structured Equity Product: Evidence from the Korean Stock Market | Bonha Koo (Chungnam National University) |
December 14, 15:25 -17:00
FISK Session Ⅱ
Chair : Dongyoup Lee (Kookmin University)
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Hwagyun Kim1 Ju Hyun Kim2 1: Texas A&M University 2: Ajou University |
Do Firms Prefer An Early Resolution of Uncertainty?: A Structural Approach Using Recursive Utility | Jaeram Lee (Hankuk University of Foreign Studies) |
|
Younwoo Jeong Bong-Gyu Jang (POSTECH) |
Interpreting News for Volatility: An Attention-Weighted HAR Framework | Jae Wook Song (Hanyang University) |
| Young Il Kim (NICE Information Service) | The Introduction of Personal Loan Refinancing Platforms and Borrower Behavior |
December 14, 17:00 - 18:00
Poster Session for Students
Concord Room Foyer
| Authors and presenters | Title |
|---|---|
| Zimina Lada (Sungkyunkwan University) | Block builder decentralization via lottery in Ethereum |
| Nayun Ryu (Sungkyunkwan University) | Market Power and Price Pass-Through under Inflation: The Impact of Industry Structure on Price Adjustment |
| Jaesun Moon (Sungkyunkwan University) | Green Patents and Corporate Default Risk |
| Seonah Lee (Sungkyunkwan University) | Constructing the Korea Business Network using Large Language Models |
| Byungmin Ahn (Sungkyunkwan University) | International Bond Return Predictability: The Role of US Bond Markets |
| Hyeon Sun Yum (Sungkyunkwan University) | Learning Exchange Rate Sentiment with Supervised Text Models |
| Hyun Min Shin (Sungkyunkwan University) | Quantitative Study on the Impact of Subscription-Based Revenue Models in Financial Platforms |
December 14, 18:00 - 19:30
Welcome Reception
8th Floor, Condard Room Ⅱ-Ⅲ
December 15, 08:20 - 09:50
Session 1 : Blockchain, Currency, and Central Banking
Chair: Jeongsun Yun (Kookmin University)
Room A
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Angelo Ranaldo1,4 Ganesh Viswanath-Natraj2,5 Junxuan Wang3 1: University of Basel 2: Warwick Business School 3: Hong Kong University of Science and Technology 4: Swiss Finance Institute 5: Gillmore Centre for Financial Technology |
Blockchain Currency Markets | Byung Hwa Lim (Sungkyunkwan University) |
|
Guanhao Feng1 Jingyu He1 Junye Li2 Lucio Sarno3 Qianshu Zhang1 1: City University of Hong Kong 2: Fudan University 3: University of Cambridge |
Currency Return Dynamics: What Is the Role of U.S. Macroeconomic Regimes? | Haonan Zhou (University of Hong Kong) |
|
Barry Eichengreen1 Ganesh Viswanath-Natraj2,4 Junxuan Wang3 Zijie Wang2 1: University of California 2: University of Warwick 3: Hong Kong University of Science and Technology 4: Gillmore Centre for Financial Technology |
Under Pressure? Central Bank Independence Meets Blockchain Prediction Markets | Don Noh (Hong Kong University of Science and Technology) |
Session 2 : Large Language Models
Chair: Jae Wook Song (Hanyang University)
Room B
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Minkyu Shin1 Jin Kim2 Jiwoong Shin3 1: City University of Hong Kong 2: Northeastern University 3: Yale University |
The Adoption and Efficacy of Large Language Models: Evidence From Consumer Complaints in the Financial Industry | Sophia Chiyoung Cheong (Hang Seng University of Hong Kong) |
|
Jianhao Lin Lexuan Sun Yixin Yan Sun Yat-sen University |
Simulating Macroeconomic Expectations using LLM Agents | Mingzhu Tai (University of Hong Kong) |
|
Boyuan Li University of Florida |
AI Washing | Henry Zhang (Chinese University of Hong Kong) |
December 15, 10:10 - 11:40
Session 3 : Technology and Innovation
Chair: Ambrus Kecskes (York University)
Room A
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Leo Liu1 Fariborz Moshirian2 Vikram Nanda3 Sheng Xu2 1: University of Technology Sydney 2: University of New South Wales 3: University of Texas at Dallas |
Innovation Policy and Inventors’ Productivity: Evidence from Global AI Initiatives | Shenje Hshieh (City University of Hong Kong) |
|
Jesus Gorrin Rory Mullen Warwick Business School |
Beyond Patent Ownership: Learning About Technological Usefulness | Daniel Rabetti (National University of Singapore) |
|
Ambrus Kecskes1 Ali Ahmadi1 Roni Michaely2 Phuong-Anh Nguyen1 1: York University 2: University of Hong Kong |
Does Corporate Production of AI Innovation Create Value? | Hyun-Dong Kim (Sogang University) |
Session 4 : AI, Corporate Finance, and Governance
Chair: Kyojik Roy Song (Sungkyunkwan University)
Room B
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Beatrice {Hyeongyun} Chang University of Florida |
Data Concerns and Investments in AI/ML: Demand- and Supply-Side Implications | Jeong, Younwoo (POSTECH) |
|
Fangming Xu1 Xiaohan Xue2 1: University of Bristol 2: University of Bath |
Revisiting M&A Premium: New Evidence from Machine Learning | Kim, Daejin (Sungkyunkwan University) |
|
Lin William Cong1 Daniel Rabetti2 Charles C.Y. Wang3 Yu Yan2 1: Cornell University 2: National University of Singapore 3: Harvard University |
Centralized Governance in Decentralized Organizations | You, Yang (University of Hong Kong) |
December 15, 13:00 - 13:50
Award Ceremony, Keynote Speech
Moderated by Ji Yeol “Jimmy” Oh (Sungkyunkwan University)
 |
Keynote Speech Professor Pan's research fields encompass asset pricing, financial derivatives markets, credit risk models, financial crises, market liquidity, market microstructure, risk management, fixed-income markets, and China's financial market. She has published more than 20 high-level academic papers in prestigious international academic journals, including Econometrica, Journal of Finance, Review of Financial Studies, and Journal of Financial Economics. Professor Pan serves as an editor at the Review of Finance and an associate editor at the Journal of Finance. In recognition of her outstanding research contributions, she received the SAIF Faculty Academic Research Award in 2022. |
December 15, 14:00 - 15:30
Session 5 : AI and Return Predictability
Chair: Young Kyu Park (Sungkyunkwan University)
Room A
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Lin William Cong1 Guanhao Feng2 Jingyu He2 Yuanzhi Wang2 1: Cornell University 2: City University of Hong Kong |
Mosaics of Predictability | Jiantao Huang (University of Hong Kong) |
|
Anne Chang1 Xi Dong1 Xiumin Martin2 Changyun Zhou3 1: Baruch College 2: Washington University in Saint Louis 3: Southwestern Univeristy |
AI (ChatGPT) Democratization, Return Predictability, and Trading Inequality | Darwin Choi (Hong Kong University of Science and Technology) |
|
Liyuan Cui1 Guanhao Feng1 Jianxin Ma2 Yinan Su3 1: CIty University of Hong Kong 2: University of Warwick 3: Johns Hopkins University |
Breaks and Trends in Factor Premia | Wonho Cho (Kwangwoon University) |
Session 6 : Market Microstructure and Derivatives
Chair: Hee-Joon Ahn (Sungkyunkwan University)
Room B
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Seongkyu {Gilbert} Park1 Patrik Sandas2 1: Willamette University 2: University of Virgina |
Do Smart Limit Orders Powered by Algorithms Encourage Liquidity Provision? | Chengcheng Qu (Ritsumeikan Asia Pacific University) |
|
Yannan Sun1 Jin Li1 Ye Luo1 Xiaowei Zhang2 1: University of Hong Kong 2: Hong Kong University of Science and Technology |
Collusive Market Making and Retail Investor Attention | Yizhou Xiao (Chinese University of Hong Kong) |
|
Da-Hea Kim Sungkyunkwan University |
Perpetual Futures as Predictors of Bitcoin Volatility | Ju Hyun Kim (Ajou University) |
December 15, 15:50 - 17:20
Session 7 : Information and Efficiency
Chair: Noolee Kim (Hanyang University)
Room A
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Lorenzo Schoenleber1 Michele Fabi2 Roberto Marfe1 Vittorio Ruffo3 1: University of Turin 2: Telecom Paris 3: Frankfurt School of Finance and Management |
Market Efficiency in Prediction Markets - A Comparison with Derivatives | Da-Hea Kim (Sungkyunkwan University) |
|
Ofir Gefen1 Daniel Rabetti1 Yannan Sun2 Che Zhang3 1: National University of Singapore 2: Hong Kong University 3: Tsinghua University |
Code-Washing: Evidence from Open-Sourcing Blockchain Startups | Keeyoung Rhee (Sungkyunkwan University) |
|
Dongkyu Chang1 Kyoung Jin Choi2 Keeyoung Rhee3 1: City University of Hong Kong 2: University of Calgary 3: Sungkyunkwan University |
(In-)Visible Risks of Blockchain-Based Financing for Capital Allocation Efficiency | Wentao Wu (University of Tampa) |
Session 8 : Issues in Asset Pricing and Asset Management
Chair: Brendel Janja (Chinese University of Hong Kong)
Room B
| Authors and presenters | Title | Discussant |
|---|---|---|
|
Shuang Chen1 Clemens Sialm2 David Xiaoyu Xu3 1: University of Melbourne 2: University of Texas at Austin 3: Southern Methodist University |
The Growth and Performance of Artificial Intelligence in Asset Management | Alan Kwan (University of Hong Kong) |
|
Janja Brendel1 Xiaoqiao Wang1 Shijie Yang2 1: Chinese University of Hong Kong 2: Southern University of Science and Technology |
Assessing the Role of Crypto Analysts on Market Outcomes: Insights from Analyst Reports | Joong-Ho Han (Sungkyunkwan University) |
|
Doron Avramov1 Guanhao Feng2 Jingyu He2 Shuhua Xiao2 1: Reichman University 2: City University of Hong Kong |
Schrödinger's Sparsity in the Cross Section of Stock Returns | Ji Yeol Jimmy Oh (Sungkyunkwan University) |