The 7th NCTU International Finance Conference and
Celebration for Professor Cheng-Few Lee’s Forty-year Teaching Career
第七屆交通大學財務金融國際研討會暨
李正福教授教學40週年慶祝會
Conference Theme: Risk Management and Strategies of Developing Financial Markets
會議主題:風險管理與金融市場發展之策略
時間(Date):103年1月10日(星期五)8:30 AM --18:15 PM
(8:30 AM ~18:15 PM, Friday, January 10, 2014)
地點(Location):國立交通大學光復校區電子與資訊研究中心1樓
(1st floor, Microelectronics and Information Systems Research Center, Kuang-Fu Campus, NCTU)
Program Co-Directors:
Cheng-Few Lee, Foundation of Pacific Basin Financial Research and Development, Taiwan and Rutgers University, USA
Min-Teh Yu, National Chiao Tung University, Taiwan
主辦單位(Conference Organizers):
Department of Information Management and Finance, National Chiao Tung University, Taiwan國立交通大學資訊管理與財務金融學系
Foundation of Pacific Basin Financial Research and Development, Taiwan
財團法人亞太金融研究發展基金會
Rutgers University, USA羅格斯大學
指導單位(Guidances):
The National Science Council (NSC), Taiwan 行政院國家科學委員會
合辦單位(Conference Co-Organizers):
Executive Master of Business Administration (EMBA), National Chiao Tung University, Taiwan 國立交通大學EMBA
Department of Quantitative Finance, National Tsing Hua University, Taiwan
國立清華大學計量財務金融系
Kainan University, Taiwan 開南大學
Wintek Corporation, Taiwan 勝華科技股份有限公司
贊助單位(Sponsors):
Chang Hwa Bank, Taiwan 彰化銀行
China Development Financial Holding Corporation, Taiwan 中華開發金融控股股份有限
公司
Cultural & Educational Foundation, Shanghai Commercial & Savings Bank, Ltd., Taiwan 上海商業儲蓄銀行文教基金會
Maywufa Company Ltd., Taiwan 美吾華股份有限公司
Taiwan Depository & Clearing Corporation 臺灣集中保管結算所
Taishin Financial Holding Co., Ltd., Taiwan 台新金控
Tung Ho Steel Enterprise Corporation, Taiwan 東和鋼鐵企業股份有限公司
GreTai Securities Market, Taiwan 證券櫃檯買賣中心
Taiwan Futures Exchange 臺灣期貨交易所
Weltrend Semiconductor, Inc., Taiwan 偉詮電子股份有限公司
World Scientific Publishing Co. 世界科技出版有限公司
主辦單位聯繫方式:
Tel.: (03)571-2121 Ext. 57080 Fax: (03)-571-8548 (Ms. Rita Liu 劉小姐)
Add.: 300新竹市大學路1001號 國立交通大學財務金融研究所409R
Email: cflee@mail.nctu.edu.tw
The 7th NCTU International Finance Conference and
Celebration for Professor Cheng-Few Lee’s Forty-year Teaching Career
~∙~ Agenda ~∙~
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8:30~9:00
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Registration 報到
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Lobby大廳
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9:00~9:05
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Welcome Remarks 致歡迎詞
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International Conference Hall
國際會議廳
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9:05~9:25
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Welcome Remarks 校長/院長致辭
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9:25~10:15
(50mins)
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Keynote Speech (1) 專題演講(1)
Speaker: Cheng-Few Lee, Rutgers University, USA
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10:15~11:10
(55mins)
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Keynote Speech (2) 專題演講(2)
Speaker: K.C. John Wei, The Hong Kong University of Science &
Technology, Hong Kong
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11:10~11:25
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Tea Break休息
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Lobby大廳
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11:25~13:00
(95mins)
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Panel Session I. Bank Risk Management銀行風險管理
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International Conference Hall
國際會議廳
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Academic Session I. Corporate Finance and Real Estate
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Conference Room 101第一會議室
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Academic Session II. Microstructure
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Conference Room 104第三會議室
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Academic Session III. Credit Risk and Risk Management
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Conference Room 106第四會議室
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13:00~14:00
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Lunch Time午餐
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Conference Room 104&106
第三、四會議室
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14:00~14:45
(45mins)
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Keynote Speech (3) 專題演講(3)
Speaker: Joshua Ronen, New York University, USA
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International Conference Hall
國際會議廳
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14:50~16:25
(95mins)
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Panel Session II. The Cross-Strait Agreement on Trade in Services’ Impact on Financial Markets
兩岸服貿協議對金融市場之影響
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International Conference Hall
國際會議廳
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Academic Session IV. Corporate Finance
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Conference Room 101第一會議室
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Academic Session V. Financial Accounting and Auditing
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Conference Room 104第三會議室
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Academic Session VI. Option Pricing
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Conference Room 106第四會議室
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16:25~16:40
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Tea Break休息
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Lobby大廳
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16:40~18:15
(95mins)
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Panel Session III. Discussion on the Contribution of Professors Eugene Fama, Lars P. Hansen and Robert J. Shiller
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Conference Room 106第四會議室
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Academic Session VII. Assets Pricing and Corporate Finance
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Conference Room 101第一會議室
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Academic Session VIII. Investment Analysis
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Conference Room 104第三會議室
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The 7th NCTU International Finance Conference and
Celebration for Professor Cheng-Few Lee’s Forty-year Teaching Career
~∙~ Detailed Program ~∙~
|
8:30~9:00
|
Registration報到
|
|
9:00~9:05
|
Welcome Remarks致歡迎詞
Cheng-Few Lee, Rutgers University, USA
|
International Conference Hall
國際
會議廳
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9:05~9:25
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Welcome Remarks校長/院長致辭
(1) Chihpin Huang, Vice President(黃志彬副校長)
(2) Hsin-Li Chang, Dean of College of Management(張新立院長)
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9:25~10:15
(50 mins)
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Keynote Speech (1) 專題演講(1)
Four Decades of a Challenging and Rewarding Academic Career美台四十年學術生涯之經驗、感想及啟示
Chairperson: Chun-Yen Chang , National Chiao Tung University, Taiwan (Former President of National Chiao Tung University) (張俊彥教授 前交通大學校長)
Speaker: Cheng-Few Lee, Chair Professor of Finance, Rutgers University,
USA
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10: 15~11:10
(55 mins)
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Keynote Speech (2) 專題演講(2)
The Real Effect of the Initial Enforcement of Insider Trading Laws
Chairperson: Sheng-Syan Chen, National Taiwan University, Taiwan (陳聖賢教授 臺大財務金融系)
Speaker: K.C. John Wei, Chair Professor of Finance, The Hong Kong University of Science & Technology, Hong Kong
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11:10~11:25
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Tea Break 休息
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11:25~13:00
(95 mins)
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Panel Session I. Bank Risk Management銀行風險管理
Chairperson: Min-Teh Yu, National Chiao Tung University,
Taiwan(俞明德教授 交大財金所)
Panelists:
-
Sheng-Cheng Hu, Institute of Economics, Academia Sinica,
Taiwan; Former Chairperson of Financial Supervisory and Former Chairperson of Council for Economic Planning and Development Commission, Taiwan (胡勝正院士 中央研究院、前金管會及經建會主委)
-
Yung-Kang Ching, Risk Management Department, China
Development Industrial Bank, Taiwan(敬永康協理 中華開發工業銀行風險管理部)
-
Yehning Chen, Chairperson, Department of Finance, National
Taiwan University, Taiwan (陳業寧教授 台大財金系系主任)
-
Chien-Hua Huang , President, Business Group, Apex
International Financial Engineering Research & Technology Co Ltd. , Taiwan (黃建華總經理 寶碩財務科技有限公司金融系統事業群)
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International Conference Hall
國際
會議廳
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Academic Session I. Corporate Finance and Real Estate
Chairperson: Chiuling Lu, National Taiwan University, Taiwan
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Passive Blockholders and Corporate Governance
Kee H. Chung, State University of New York at Buffalo, USA
Choonsik Lee, Quinnipiac University, USA
Carl Hsin-han Shen, National Central University, Taiwan
-
Does Population Aging Affect Real House Prices? Evidence from Eight Asian Economies
Chiuling Lu, National Taiwan University, Taiwan
Cheng-Lun Shih, National Taiwan University, Taiwan
-
Examining Expensing Employee Compensation Policy:Theory and Evidence
Ren-Raw Chen, Fordham University, USA
Ting-Kai Chou, National Chung Cheng University, Taiwan
Hsuan-Chu Lin, National Cheng Kung University
Michael Long, Rutgers University, USA
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Does Corporate Governance Curb Managers' Opportunistic Behavior of Exploiting Inside Information for Early Exercise of Executive Stock Options?
Chin-Chen Chien, National Cheng Kung University, Taiwan
Cheng-Few Lee, Rutgers University, USA
She-Chih Chiu, National Cheng Kung University, Taiwan
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Current vs. Permanent Earnings for Estimating Alternative Dividend Payment Behavioral Model: Theory, Methods and Applications
Cheng Few Lee, Rutgers University, USA
Hong-Yi Chen, National Central University, Taiwan
Alice Lee, State Street, USA
Tzu Tai, Rutgers University, USA
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Conference Room 101第一
會議室
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Academic Session II. Microstructure
Chairperson: Yin-Feng Gau, National Central University, Taiwan
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The Informational Role of Order Flow in Foreign Currency
Futures and Spot Markets
Yu-Lun Chen, Chung Yuan Christian University, Taiwan
Yin-Feng Gau, National Central University, Taiwan
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Order Cancelations across Investor Groups: Evidence from an Emerging
Order-Driven Market
Chaoshin Chiao, National Dong Hwa University, Taiwan
Zi-Mei Wang, Ming Chuan University, Taiwan
Shiau-Yuan Tong, Ming Chuan University, Taiwan
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The Effects of Market Maturity and Informed Trading on Cash-Futures Basis
Emily Lin, St. John's University, Taiwan
Charles Chang, Chinese University of Hong Kong, Hong Kong
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The Sources of Commonality in Liquidity: New Evidence from the Taiwan Stock Markets
Wen-Liang Hsieh, National Chiao Tung University, Taiwan
Yuan-Yi Lin, St. John's University, Taiwan
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Conference Room 104第三
會議室
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Academic Session III. Credit Risk and Risk Management
Chairperson: Chuang-Chang Chang, National Central University, Taiwan
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Is the S&P Rating a Good Credit Risk Proxy? A Stochastic Frontier Approach
Jhao-Siang Siao, National Dong Hwa University, Taiwan
Ruey-Ching Hwang, National Dong Hwa University, Taiwan
Chih-Kang Chu, National Dong Hwa University, Taiwan
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Bankruptcy Probabilities Inferred from Option Prices
Stephen J. Taylor, Lancaster University, UK
Chi-Feng Tzeng, National Tsing Hua University, Taiwan
Martin Widdicks, University of Illinois at Urbana-Champaign, USA
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The Capital Structure of a Firm with a Generalized Interest Rate Process
Chuang-Chang Chang, National Central University, Taiwan
Jun-Biao Lin, National Kaohsiung First University of Science and Technology, Taiwan
Chun-Chieh Yang, Taipei Fubon Bank, Taiwan
-
Industry Characteristics and Financial Risk Spillovers
Wan-Chien Chiu, Universidad Carlos III de Madrid, Spain
Juan Ignacio Peña, Universidad Carlos III de Madrid, Spain
Chih-Wei Wang, Universidad Carlos III de Madrid, Spain
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Earnings Management Surrounding Forced CEO Turnover: Evidence from the Property-Casualty Insurance Industry
Jiang Cheng, Shanghai University of Finance and Economics, China
Tzuting Lin, National Taiwan University, Taiwan
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Conference Room 106第四
會議室
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13:00~14:00
(60mins)
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Lunch Time 午餐
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14:00~14:45
(45mins)
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Keynote Speech (3) 專題演講(3)
Did the "Fair Values" Required under GAAP and IFRS Deepen the Recent Financial Crisis?
Chairperson: Min-Teh Yu, National Chiao Tung University, Taiwan (俞明德教授 交大財金所)
Speaker: Joshua Ronen, New York University, USA
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International Conference Hall
國際
會議廳
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14:50~16:25
(95 mins)
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Panel Session II. The Cross-Strait Agreement on Trade in
Services’ Impact on Financial Markets
兩岸服貿協議對金融市場之影響
Chairperson: Rong-I Wu, President, Taiwan Brain Trust;
Former Vice Premier, Executive Yuan, Taiwan
(吳榮義董事長 新台灣國策智庫,前行政院副院長)
Panelists:
-
Sheng-Cheng Hu, Institute of Economics, Academia Sinica,
Taiwan; Former Chairperson of Financial Supervisory Commission and Former Chairperson of Council for Economic Planning and Development, Taiwan (胡勝正院士 中央研究院、前金管會及經建會主委)
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Cheng-Mount Cheng, President, Taiwan Academy of Banking
and Finance, Taiwan (鄭貞茂院長 台灣金融研訓院)
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Show-Ling Jang, Chairperson, Department of Economics, National Taiwan University, Taiwan (鄭秀玲主任 台大經濟系系主任)
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Jiunn-Rong Chiou, Department of Economics, National Central University, Taiwan (邱俊榮教授 中央大學經濟系)
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International Conference Hall
國際
會議廳
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Academic Session IV. Corporate Finance
Chairperson: Han-Hsing Lee, National Chiao Tung University, Taiwan
-
The Information Content of R&D Reductions
Konan Chan, National Chengchi University, Taiwan
Yueh- hsiang Lin, National Taipei College of Business, Taiwan
Yanzhi Wang, National Taiwan University, Taiwan
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Strategic Choice of Payment Methods in Corporate Acquisitions: from the Perspective of Collective Bargaining with Unionized Workers
I-Ju Chen, Yuan Ze University, Taiwan
Sheng-Syan Chen, National Taiwan University, Taiwan
Yan-Shing Chen, National Taiwan University, Taiwan
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Why Does Bad News Increase Volatility and Interest Rate, and Decrease Optimism, Asset Prices and Leverage?
F. Albert Wang, University of Dayton, USA
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The Effect of Demographic Dividend on CEO Compensation
Sue-Fung Wang, National Chiao Tung University, Taiwan
Yi-Cheng Shih, National Taipei University, Taiwan
Kai-Ling Chin, National Chiao Tung University, Taiwan
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Conference Room 101第一
會議室
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Academic Session V. Financial Accounting and Auditing
Chairperson: Shih-Ti Yu, National Tsing Hua University, Taiwan
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Income Classification Shifting and Mispricing of Core Earnings
Elio Alfonso, Florida International University, USA
C.S. Agnes Cheng, The Hong Kong Polytechnic University, HK
Shanshan Pan, Louisiana State University, USA
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How Firm Size, Firm Liquidity and Recognition Policy Affect the Pricing Effect of Employee Stock Options-An Application of Self-Selection Model Controlling for Endogeneity
Chii-Shyan Kuo, National Cheng Kung University, Taiwan
Shih-Ti Yu, National Tsing Hua University, Taiwan
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Abnormal Audit Fees and Accrual Quality
Fang-Chi Lin, TamKang University
Yu-Cheng Lin, National Chi Nan University, Taiwan
Chieh-Shuo Chen, National Changhua University of Education, Taiwan
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A Potential Benefit of Increasing Book-Tax Conformity: Evidence from the Reduction in Audit Fees
Nan-Ting Kuo, National Central University, Taiwan
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Conference Room 104第三
會議室
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Academic Session VI. Option Pricing
Chairperson: Huimin Chung, National Chiao Tung University, Taiwan
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Option Pricing under Stock Market Cycles with Jump Risks in Dow Jones Industrial Average Index and S&P 500 Index
Shih-Kuei Lin, National Chengchi University, Taiwan
So-De Shyu, Takming University, Taiwan
Shin-Yun Wang, National Dong Hwa University, Taiwan
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Deviations from Put–Call Parity and Volatility Prediction: Evidence from the Taiwan Index Option Market
Chin-Ho Chen, National Chiao Tung University, Taiwan
Huimin Chung, National Chiao Tung University, Taiwan
Shu-Fang Yuan, Nanhua University, Taiwan
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Forgive, or Award, Your Debtor? A Barrier Option Approach
David Sun, Kainan University, Taiwan
Da Ching Chow, Yuan Ze University, Taiwan
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Optimal Exponentially Tilted Importance Sampling for Event Simulation with Applications
Cheng-Der Fuh, National Central University, Taiwan
Huei-Wen Teng, National Central University, Taiwan
Ren-Her Wang, Tamkang University, Taiwan
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Conference Room 106第四
會議室
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16:25~16:40
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休息Tea Break
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16:40~18:15
(95 mins)
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Panel Session III.
Discussion on the Contribution of Professors Eugene Fama, Lars P. Hansen and Robert J. Shiller
Chairperson: Wen-Liang Hsieh, National Chiao Tung
University, Taiwan(謝文良教授 國立交通大學)
Panelists:
-
Cheng-Few Lee, Rutgers University, USA
-
Chao-Hsi Huang, Dean, College of Technology Management,
National Tsing Hua University, Taiwan (黃朝熙教授 國立清
華大學科技管理學院院長)
-
Eric S. Lin, Department of Economics, National Tsing Hua University, Taiwan (林世昌教授 國立清華大學經濟系)
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Conference Room 106第四
會議室
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Academic Session VII. Assets Pricing and Corporate Finance
Chairperson: Keh Luh Wang, National Chiao Tung University, Taiwan
-
Does Microtherm Boosts Pharmaceutical Stock Prices?
Chien-Chung Nieh, Tamkang University, Taiwan
Yu-Sheng Kao, Tamkang University, Taiwan
Hannibal Sun, Chinese Culture University, Taiwan
-
Alternative Methods to Derive Statistical Distribution of Sharpe Performance Measure: Review, Comparison, and Extension
Lie-Jane Kao, Kainan University, Taiwan
Cheng-Few Lee, Rutgers University, USA
-
Wavelet Based Data Mining Method for Risk Management and Portfolio Selection
Yi-Ting Chen, National Chiao Tung University, Taiwan
Edward W. Sun, Dedge Business School, France
Min-Teh Yu, National Chiao Tung University, Taiwan
-
Do Venture Capital Backed Ipos Experience Better Operating Performance?
Woan-lih Liang, National Chiao Tung University, Taiwan
-
Are Institutional Investors Prudent? Evidence from an Emerging Market
Yu-Fen Chen, Da-Yeh University, Taiwan
Fu-Lai Lin, Da-Yeh University, Taiwan
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Conference Room 101第一
會議室
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Academic Session VIII. Investment Analysis
Chairperson: Che-Chun Lin, National Tsing Hua University, Taiwan
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Pricing A Mortgage-backed Security Using First Hitting Time
Che-Chun Lin, National Tsing Hua University, Taiwan
Jow-Ran Chang, National Tsing Hua University, Taiwan
Jing-Tang Tsay, National Taipei College of Business, Taiwan
-
Consistent Winners and Losers
Hong-Yi Chen, National Central University, Taiwan
Chai-Hsun Hsieh, Naitonal Cental University, Taiwan
-
The Stock Market Valuation of Intellectual Capital in the IT Industry
Hung-Chao Yu, National Chengchi University, Taiwan
Wen-Ying Wang, National Chengchi University, Taiwan
Chingfu Chang, National Chengchi University, Taiwan
-
Stock Price Level and Informed Trading
Konan Chan, National Chengchi University, Taiwan
Fengfei Li, University of Hong Kong, Hong Kong
Tse-Chun Lin, University of Hong Kong, Hong Kong
Ji-Chai Lin, Louisiana State University, USA
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Conference Room 104第三
會議室
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