The Department of Finance in the Faculty of Business and Economics is pleased to continue its annual conference series.
Registrations now open
The Department of Finance in the Faculty of Business and Economics at the University of Melbourne is pleased to continue its annual conference series: Finance Down Under: Building on the Best from the Cellars of Finance.
This year, Finance Down Under will be held online on 4-5 March, 2022.
We have selected 21 high-quality papers from more than 230 submissions. The accepted papers cover a wide range of areas, including Asset Pricing, Banking, Behavioural Finance, Corporate Finance, Market Microstructure and Mutual Funds, and received high ratings from a 101-member program committee.
We are honoured to have Professor Sergio Rebelo from Northwestern University, and Professor Xavier Gabaix from Harvard Business School contribute to our event as keynote speakers on the themes of Crises, Disasters, and Risk Management.
We hope that you can join us.
FDU Organizing Committee
Federico Nardari (Chair), Maurice McCourt, Garry Twite & Qi Zeng
Department of Finance
Faculty of Business & Economics
The University of Melbourne
Conference sessions at a glance
Note: All conference times are listed in Melbourne Australian Eastern Daylight Time (AEDT).
Need to convert the time to your location? Conversion tool
Downloadable pdf version of the full program.
Friday, March 4, 2022: 8:55am - 9:00am AEDT | Opening Remarks
| Federico Nardari, The University of Melbourne |
Friday, March 4, 2022: 9:00am - 10:15am AEDT | Parallel Sessions I
| Asset Pricing I | Corporate Finance I | Behavioural Finance |
|---|---|---|
|
Factor Demand and Factor Returns Chen Wang, University of Notre Dame Exploring Risk Premia, Pricing Kernels, and No-Arbitrage Restrictions in Option Pricing Models Hyung Joo Kim, University of Houston Details |
The Determinants of ESG Ratings: Rater Ownership Matters Dragon Yongjun Tang, The University of Hong Kong Bargaining with Private Equity: Implications for Hospital Prices and Patient Welfare Tong Liu, University of Pennsylvania Details |
Should Retail Investors Listen to Social Media Analysts? Evidence from Text-Implied Beliefs Chukwuma Dim, Frankfurt School of Finance and Management Retail Derivatives and Sentiment: A Sentiment Measure Constructed from Issuances of Retail Structured Equity Products Neil Pearson, University of Illinois Urbana-Champaign and Canadian Derivatives Institute Details |
Friday, March 4, 2022: 10:30am - 11:30am AEDT | Keynote Speech
| Sergio Rebelo, Northwestern University |
Friday, March 4, 2022: 11:45am - 1:00pm AEDT | Parallel Sessions II
| Asset Pricing II | Corporate Finance II | Microstructure |
|---|---|---|
The Bond, Equity, and Real Estate Term Structures Andrei Gonçalves, The University of North Carolina The Risks of Safe Assets Yang Liu, The University of Hong Kong Details | Depositing Corporate Payout Leming Lin, University of Pittsburgh Political Attitudes, Partisanship, and Merger Activity Tarun Patel, Southern Methodist University Details |
Increasing Corporate Bond Liquidity Premium and Post-Crisis Regulations Botao Wu, New York University Coexisting Exchange Platforms: Limit Order Books and Automated Market Makers Jun Aoyagi, The Hong Kong University of Science and Technology Details |
Friday, March 4, 2022: 1:15pm - 2:30pm AEDT | Parallel Sessions III
| Banking | Corporate Finance III | Mutual Funds |
|---|---|---|
Rise of the Machines: The Impact of Automated Underwriting Amin Shams, The Ohio State University Banking on Carbon: Corporate Lending and Cap-and-Trade Policy Mathias Kruttli, Federal Reserve Board Details | CEO Pet Projects Denis Sosyura, Arizona State University Smokestacks and the Swamp Arkodipta Sarkar, The Hong Kong University of Science and Technology Details | Activism, Stock Selection, and Indexing in Equilibrium Michael Gallmeyer, University of Virginia Capital Allocation and the Market for Mutual Funds: Inspecting the Mechanism Jeong-Ho Kim, Emory University Details |
Saturday, March 5, 2022: 9:30am - 10:30am AEDT | Keynote Speech
| Xavier Gabaix, Harvard University |
Saturday, March 5, 2022: 10:45am - 12:30pm AEDT | Plenary Session
| Plenary Session |
|---|
|
Disagreement and Control Rights: Implications for Debt Policy and Aggregate Dynamics Steven Baker, University of Virginia Nature as a Defense from Disasters: Natural Capital and Municipal Bond Yields Claudio Rizzi, University of Miami Tax Evasion and Managerial Incentives: Evidence from the FATCA and Offshore Mutual Funds Si Cheng, The Chinese University of Hong Kong Details |
Saturday, March 5, 2022: 12:30pm - 12:45pm AEDT | Concluding Remarks
Event registration
Registration is now open for the Finance Down Under Conference 2022.
Note: Conference presenters and discussants - event registration is not required.
Conference fee: AUD$35.00 (incl GST)
Registrations close: 11.59pm AEDT, Wednesday 2 March 2022
Attendees will be provided with Zoom access instructions prior to the conference.
For any questions regarding registration, please contact fdu-conference@unimelb.edu.au
Sergio Rebelo
MUFG Bank Distinguished Professor of International Finance
Professor of Finance
Sergio Rebelo is the MUFG Bank Distinguished Professor of International Finance at the Kellogg School of Management, Northwestern University, where he has served as Chair of the Finance Department. Professor Rebelo does research on macroeconomics and international finance. He has studied the causes of business cycles, the impact of economic policy on economic growth, and the sources of exchange rate fluctuations. His research has been funded by the National Science Foundation, the World Bank, the Sloan Foundation, and the Olin Foundation. He is a fellow of the Econometric Society, the National Bureau of Economic Research, and the Center for Economic Policy Research. He has been a member of the editorial board of various academic journals, including the American Economic Review, the European Economic Review, the Journal of Monetary Economics, and the Journal of Economic Growth. He has won numerous teaching awards at the Kellogg School of Management, including the Executive Masters Program Outstanding Professor Award and the Professor of the Year Award. Professor Rebelo has served as a consultant to the World Bank, the International Monetary Fund, the Board of Governors of the Federal Reserve System, the European Central Bank, the McKinsey Global Institute, the Global Markets Institute at Goldman Sachs, and other organizations. He received his Ph.D. in Economics from the University of Rochester.
Further information
Xavier Gabaix
Pershing Square Professor of Economics and Finance
Xavier Gabaix is Pershing Square Professor of Economics and Finance at Harvard’s economics department. He received his undergraduate degree in mathematics from the Ecole Normale Supérieure (Paris) and obtained his PhD in economics from Harvard University. His research focuses on finance, macroeconomics, and behavioral economics. He received the Fischer Black prize given every two years to the best financial economist under 40, the Bernacer prize given to the best European economist under 40 working in macroeconomics and finance, and the Lagrange and Allais Prizes. His research has been published in the American Economic Review, Econometrica, the Quarterly Journal of Economics, the Journal of Finance, and Nature. He is a Research Associate of the National Bureau of Economic Research and of the Center for Economic Policy Research.
Further information
We would like to thank our 2022 Selection Committee
- Heitor Almeida, University of Illinois Urbana-Champaign
- George Aragon, Arizona State University
- Ilona Babenko, Arizona State University
- Pedro Barroso, Universidade Católica Portuguesa
- Sohnke Bartram, University of Warwick and CEPR
- Thomas Bates, Arizona State University
- Robert Battalio, University of Notre Dame
- Henk Berkman, The University of Auckland
- Gennaro Bernile, University of Miami
- Oliver Boguth, Arizona State University
- Audra Boone, Texas Christian University
- Jonathan Brogaard, The University of Utah
- Stephen Brown, Monash University
- Max Bruche, Humboldt-Universität zu Berlin
- Sabrina Buti, Université Paris-Dauphine
- Jie Cao, The Chinese University of Hong Kong
- Indraneel Chakraborty, University of Miami
- Gilles Chemla, Imperial College London, CNRS, and CEPR
- Mikhail Chernov, University of California, Los Angeles
- Tarun Chordia, Emory University
- Oleg Chuprinin, University of New South Wales
- Jonathan Cohn, The University of Texas at Austin
- Riccardo Colacito, The University of North Carolina at Chapel Hill
- Carole Comerton-Forde, The University of Melbourne
- Jennifer Conrad, The University of North Carolina at Chapel Hill
- Kristle Cortés, University of New South Wales
- Zhi Da, University of Notre Dame
- Sudipto Dasgupta, The Chinese University of Hong Kong
- Abe De Jong, Monash University
- Stephen Dimmock, National University of Singapore
- Hitesh Doshi, University of Houston
- Ran Duchin, Boston College
- Joseph Fan, The Chinese University of Hong Kong
- Eliezer Fich, Drexel University
- Cesare Fracassi, The University of Texas at Austin
- Fangjian Fu, Singapore Management University
- Michael Gallmeyer, University of Virginia
- Neal Galpin, Monash University
- Federico Gavazzoni, BI Norwegian Business School
- Simon Gervais, Duke University
- Ron Giammarino, The University of British Columbia
- Michael Gofman, University of Rochester
- Luis Goncalves-Pinto, University of New South Wales
- Vidhan Goyal, The Hong Kong University of Science and Technology
- Allaudeen Hameed, National University of Singapore
- Jarrad Harford, University of Washington
- Nikolaus Hautsch, University of Vienna
- Christian Heyerdahl-Larsen, Indiana University
- Edith Hotchkiss, Boston College
- David Hsieh, Duke University
- Eric Hughson, Claremont McKenna College
- Zoran Ivkovich, Michigan State University
- Kris Jacobs, University of Houston
- Shane Johnson, Texas A&M University
- Christopher Jones, University of Southern California
- Marcin Kacperczyk, Imperial College London
- Robert Korajczyk, Northwestern University
- Laurence Lescourret, ESSEC Business School
- David Lesmond, Tulane University
- Kai Li, Macquarie University
- Karl Lins, The University of Utah
- Hong Liu, Washington University in St. Louis
- Dmitry Livdan, University of California, Berkeley
- Christian Lundblad, The University of North Carolina at Chapel Hill
- Peter MacKay, The Hong Kong University of Science and Technology
- Andrew MacKinlay, Virginia Tech
- Christoph Merkle, Aarhus University
- Alexander Michaelides, Imperial College London
- Sophie Moinas, Toulouse School of Economics
- Lyndon Moore, Monash University
- Kjell Nyborg, University of Zurich and Swiss Finance Institute
- Micah Officer, Loyola Marymount University
- Neil Pearson, University of Illinois Urbana-Champaign and Canadian Derivatives Institute
- Ludovic Phalippou, University of Oxford
- Peter Kien Pham, University of New South Wales
- Meijun Qian, Australian National University
- Yiming Qian, University of Connecticut
- Uday Rajan, University of Michigan
- Oleg Rytchkov, Temple University
- Stefano Sacchetto, IESE Business School
- Lucio Sarno, University of Cambridge
- Norman Schuerhoff, Swiss Finance Institute at University of Lausanne
- Ivan Shaliastovich, University of Wisconsin-Madison
- Jianfeng Shen, University of New South Wales
- Clemens Sialm, The University of Texas at Austin
- Stephan Siegel, University of Washington
- Rui Silva, Nova School of Business and Economics
- Denis Sosyura, Arizona State University
- Johan Sulaeman, National University of Singapore
- Yuri Tserlukevich, Arizona State University
- Chris Veld, Monash University
- Mitch Warachka, Chapman University
- Michael Weber, The University of Chicago
- Chishen Wei, Singapore Management University
- Joakim Westerholm, The University of Sydney
- Youchang Wu, University of Oregon
- David Yermack, New York University
- Vijay Yerramilli, University of Houston
- Bart Yueshen, INSEAD
- Stefan Zeume, University of Illinois Urbana-Champaign
- Min Zhu, The University of Queensland
2022 Award Winners
Best Paper Award (AUD$4,000)
Tong Liu, Bargaining with Private Equity: Implications for Hospital Prices and Patient Welfare
CFAM-ARX Paper Award (AUD$1,500)
Cameron Peng and Chen Wang, Factor Demand and Factor Returns