2nd Corporate Governance Research Incubator
November 24-25, 2006
Shanghai, China
Program
Organized by
Center for Institutions and Governance and
School of Accountancy
The Chinese University of Hong Kong
Hong Kong SAR, China
Sponsored by
Shanghai National Accounting Institute
Shanghai, China
Asterisks denote presenters.
November 24, Friday
09:00 am – 09:10 am
Opening Ceremony
Morning Paper Sessions
09:10 am – 10:10 am
Managerial Career Concerned and Mutual Fund Short-termism
* Li Jin (Harvard Business School) (Slides)
Leonid Kogan (Massachusetts Institute of Technology)
10:10 am – 11:10 am
Payoff Complementarities, Self-fulfilling Beliefs and Mutual Fund Outflows
* Qi Chen (Duke University) (Slides)
Itay Goldstein (University of Pennsylvania)
Wei Jiang (Columbia Business School)
11:10 am – 11:30 am Coffee Break
11:30 am –12:30 pm
On the Relationship between Market and Analyst Forecast Inefficiencies
* Jing Liu (University of California, Los Angeles) (Slides)
Wei Su (University of California, Los Angeles)
12:30 pm – 01:30 pm Luncheon
Afternoon Paper Sessions
02:00 pm – 03:00 pm
Is Sarbanes-Oxley Act Scaring Away Lemons or Oranges? An Examination of the Impact of Sarbanes-Oxley Act on the Attractiveness of U.S. Capital Markets to Foreign Firms
Peter Hostak (University of Massachusetts at Dartmouth)
Thomas Lys (Northwestern University)
* Yong George Yang (The Chinese University of Hong Kong)
03:00 pm – 04:00 pm
The Dynamics of Large and Small Chapter 11 Cases: An Empirical Study
Douglas Baird (University of Chicago Law School)
Arturo Bris (IMD, Yale International Center for Finance, and ECGI)
* Ning Zhu (University of California, Davis) (Slides)
04:00 pm – 04:30pm Coffee Break and Group Photo-shooting
04:30 pm - 05:30 pm
Research Round Table Discussions (see Appendix)
小组讨论会
06:00 pm – 08:00 pm Dinner
November 25, Saturday
Morning Paper Sessions
09:00 am – 10:00 am
Institutional Determinants of Vertical Integration: Evidence from China
* Joseph P.H. Fan (The Chinese University of Hong Kong)
Jun Huang (Shanghai University of Finance and Economics)
Randall Morck (University of Alberta and National Bureau of Economic Research)
Bernard Yeung (New York University)
10:00 am – 11:00 am
Ownership, Institutions, and Capital Structure: Evidence from Chinese Firms
* Kai Li (University of British Columbia) (Slides)
Heng Yue (Peking University)
Longkai Zhao (Peking University)
11:00 am –11:15 am Coffee Break
11:15 am – 12:15 pm
CEO Turnover and Accounting Measures: Effect of Delegation of Control Rights
Charles J. P. Chen (City University of Hong Kong)
* Zengquan Li (Shanghai University of Finance and Economics) (Slides)
Xijia Su (City University of Hong Kong)
Judy Tsui (Hong Kong Polytechnic University)
Discussant: Qi Chen (Duke University) (Slides)
12:15 pm – 01:30 pm Luncheon
Afternoon Paper Sessions
02:00 pm – 03:00 pm
Is There Penalty for Crime? Corporate Scandal and Management Turnover in China
Peng Sun (Peking University)
* Yi Zhang (Peking University)
Discussant: Li Jin (Harvard Business School) (Slides)
03:00 pm – 04:00 pm
政府多重利益博弈下的银行信贷行为
* 何贤杰 (上海财经大学) (Slides)
朱红军 (上海财经大学)
陈信元 (上海财经大学)
Discussant: Ning Zhu (University of California, Davis) (Slides)
04:00 pm – 04:15 pm Coffee Break
04:15 pm – 05:15 pm
大股东的内部市场与上市公司价值的N型关系—基于效率观点和掏空观点的实证检验
* 郑国坚 (中山大学) (Slides)
魏明海 (中山大学)
孔东民 (华中科技大学)
Discussant: Jing Liu (University of California, Los Angeles) (Slides)
06:00 pm Best Paper Award
Appendix
November 24, Friday
04:30 pm - 05:30 pm
Research Round Table Discussions (list in alphabetical order by first author’s surname)
小组讨论会（按第一作者姓氏的拼音顺序排列）
法律制度缺失下的隐性契约—一项基于中国资本市场的实证研究
陈冬华 (南京大学)
章铁生 (南京大学)
李翔 (南京大学)
所有制与经营绩效之谜：政策优势还是管理优势？
方军雄 (复旦大学)
国有股权、替代性投资者保护与中国股票市场发展：理论与经验证据
计小青 (上海财经大学)
独立董事任职选择研究：理论框架与实证分析
简宇寅 (中山大学)
谭劲松 (中山大学)
周繁 (中山大学)
制度环境，国有产权与银行差别贷款
江伟 (暨南大学)
李斌 (厦门大学)
公司治理与股权分置改革对价的确定
靳庆鲁 (上海财经大学)
原红旗 (上海财经大学)
产品市场竞争与资本结构：资产专用性的视角
李青原 (武汉大学，清华大学)
王永海 (武汉大学)
政商关系、地方官员晋升与公司市场业绩—来自中国上市公司的证据
林小驰 (北京大学)
孙馨蕊 (北京大学)
王立彦 (北京大学)
市场需要高质量的审计吗？—审计师声誉角度的检验
刘峰 (中山大学)
赵景文 (厦门大学)
黄宇明 (毕博管理咨询广州公司)
谢斌 (中山大学)
集体决策能抑制恶性增资吗—一个基于前景理论的实验研究
刘志远 (南开大学)
刘青 (南开大学)
双重代理与双重上市
沈艺峰 (厦门大学)
肖珉 (厦门大学)
周颖刚 (美国康奈尔大学)
控制权争夺、所有权结构与大股东利益侵占—基于上市公司支持和掏空的理论解释及经验证据
石水平 (中山大学)
林斌 (中山大学)
国有上市公司部分民营化与完全民营化的经济后果
汤谷良 (对外经贸大学)
戴璐 (中央财经大学)
负债对投资行为影响的实证研究—基于制造业国有控股上市公司的数据分析
王鲁平 (西安交通大学)
毛伟平 (西安交通大学)
李静 (西安交通大学)
股权分置改革、治理环境与投资者保护
辛宇 (中山大学)
徐莉萍 (中山大学)
中国上市公司股权结构对企业创新战略选择的影响
张晗 (中国人民大学)
徐二明 (中国人民大学)
