Preliminary Program
Summer Institute of Finance Conference
July 16 – 17, 2018, Shanghai, China


Sunday, July 15, 2018
Registration:3:00PM - 6:00PM
      Location: Lobby, Crowne Plaza Shanghai
Reception: 6:00PM - 8:00PM
      Location: 9F, Jinjue Building, Crowne Plaza Shanghai (上海银星皇冠假日酒店)
Day 1. Monday, July 16, 2018, 8:30AM - 5:50PM

Session: Chinese Stock Market and Margin
8:30AM – 10:10AM

8:30AM - 9:20AM
Anticipation versus Direct Effects of Credit Supply on Asset Prices
Christopher Hansman, Imperial College London
Harrison Hong, Columbia University
Wenxi Jiang, The Chinese University of Hong Kong
Jane Liu, Peking University
Presenter: Harrison Hong, Columbia University
Discussant: Jiangze Bian, University of International Business and Economics

9:20AM - 10:10AM
Discretionary Stock Trading Suspension
Jennifer Huang, Cheung Kong Graduate School of Business
Donghui Shi, Shanghai Stock Exchange
Zhongzhi Song, Cheung Kong Graduate School of Business
Bin Zhao, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University
Presenter: Zhongzhi Song, Cheung Kong Graduate School of Business
Discussant: Hui Chen, Massachusetts Institute of Technology

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

Session: Cryptocurrency
10:40AM – 2:50PM

10:40AM - 11:30AM
Bitcoin and the Kimchi Premium
Kyoung Jin Choi, University of Calgary
Alfred Lehar, University of Calgary
Ryan Stauffer, University of Calgary
Presenter: Alfred Lehar, University of Calgary
Discussant: Jiasun Li, George Mason University

11:30AM - 12:20PM
Up-Cascaded Wisdom of the Crowd
Will Cong, University of Chicago
Yizhou Xiao, the Chinese University of Hong Kong
Presenter: Yizhou Xiao, the Chinese University of Hong Kong
Discussant: Tingjun Liu, the University of Hong Kong

Lunch: 12:20PM - 2:00PM    Lunch Talk by Professor Zhiguo He

2:00PM - 2:50PM
The Economics of Data
David Easley, Cornell University
Shiyang Huang, The University of Hong Kong
Liyan Yang, University of Toronto
Zhuo Zhong, University of Melbourne
Presenter: Shiyang Huang, the University of Hong Kong
Discussant: John Nash, Hong Kong University of Science and Technology

Session: P2P lending in US and China
2:50PM – 5:50PM

2:50PM - 3:40PM
Peer-to-Peer Lenders versus Banks: Substitutes or Complements?
Huan Tang, HEC Paris
Presenter: Huan Tang, HEC Paris
Discussant: Hong Ru, Nanyang Technological University

Coffee break 3:40PM - 4:10PM

4:10PM - 5:00PM
Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China
Fabio Braggion, Tilburg University
Alberto Manconi, Bocconi University
Haikun Zhu, Tilburg University
Presenter: Haikun Zhu, Tilburg University
Discussant: Baozhong Yang, Georgia State University

5:00PM - 5:50PM
Winners and Losers of Marketplace Lending: Evidence from Borrower Credit Dynamics
Sudheer Chava, Georgia Institute of Technology
Nikhil Paradkar, Georgia Institute of Technology
Presenter: Sudheer Chava, Georgia Institute of Technology
Discussant: Fan Yu, Claremont McKenna College

Dinner: 6:30PM

Day 2. Tuesday, July 17, 2018, 8:30AM - 12:20PM

Session: Guarantees in China
8:30AM – 10:10AM

8:30AM - 9:20AM
The Value and Real Effects of Implicit Guarantees
Shuang Jin, Hong Kong University of Science and Technology
Wei Wang, Queen's University
Zilong Zhang, City Univerisity of Hong Kong
Presenter: Zilong Zhang, City Univerisity of Hong Kong
Discussant: Zhou Chen, PBC School of Finance, Tsinghua University

9:20AM - 10:10AM
Risk Contagion along Loan Guarantee Chain: Evidence from Court Enforcement in China
Laura Xiaolei Liu, Peking University
Xiaoqian Zhang, Zhejiang University
Presenter: Laura Xiaolei Liu, Peking University (TBD)
Discussant: Chenyu Shan, Shanghai University of Finance and Economics

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

Session: Behavioral Finance in China
10:40AM – 12:20PM

10:40AM - 11:30AM
Real Life Experience and Financial Risk Taking: Natural Experiment Evidence from Automobile Traffic Accidents
Ning Zhu, Tsinghua University
Yinglu Deng, Tsinghua University
An Hu, Tsinghua University
Presenter: Ning Zhu, PBC School of Finance, Tsinghua University (TBD)
Discussant: Bing Han, University of Toronto

11:30AM - 12:20PM
Heuristics in the Field: A Study of a P2P Lending Market
Li Liao, Tsinghua University
Zhengwei Wang, Tsinghua University
Jia Xiang, Tsinghua University
Hongjun Yan, DePaul University
Jun Yang, Indiana University
Presenter: Hongjun Yan, DePaul University
Discussant: Xiaomeng Lu, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University

Lunch: 12:20PM - 2:00PM