PhD Alumni Top Publications

Claire Liu, (with Ronald Masulis and Jared Stanfield), CEO Option Compensation Can Be a Bad Option: Evidence from Product Market Relationships (2018 China International Conference in Finance)

Claire Liu, (with Ronald Masulis and Le Zhang), Monitoring the Monitor: Distracted Institutional Investors and Board Governance (2018 GCGC, 2017 EFA, 2017 NFA, 2017 CICF, 2017 FIRS, 2016 CAFM (Best Paper Award), 2016 FIRN).

Emma Zhang, Pre-Occupied Independent Directors (2016 NFA Annual Meeting, PhD session)

Ying Dou, Ronald Masulis, Jason Zein, Shareholder wealth consequence of insider pledging of company stock as collateral for personal loans (2016 WFA Annual Meeting, 2015 China International Conference in Finance, Shenzhen China, 2015 EFA Annual Meeting, 2015 MIT Asian Conference in Accounting, Shenzen China)

Claire Liu, Product Market Relationships and Managerial Incentives (2016 FMA European Conference)

Claire Liu, Ronald Masulis and Jared Stanfield, When Does Stock Option Compensation Undercut Firm Performance? Evidence from Product Market Relationships (2016 FMA Asia Pacific and 2016 FMA Annual Meeting)

Claire Liu, Ronald Masulis and Le Zhang, Monitoring the Monitor: Distracted Institutional Investors and Board Governance (2017 EFA, 2017 NFA, 2017 CICF, 2017 FIRS, 2016 CAFM (Best Paper Award), 2016 FIRN).

Jerry Parwada, Yixuan Rui and Jianfeng Shen, Are Hedge Funds More Skilled than Other Institutional Investors? Evidence from Their Use of Insider Trading Information (2016 China International Conference in Finance)

Jerry Parwada, Jianfeng Shen and Kenny Siaw, The Value of Institutional Brokerage Relationships: Evidence From The Collapse of Lehman Brothers (2016 EFA Meeting)

Konark Saxena and Peng Wang, House prices, credit constraints and consumption growth: Evidence from a panel of households (2016 EFA Meeting)

Emma Zhang, Preoccupied Independent directors (2016 FMA Annual Conference (Doctoral Student Consortium))

Alvin Ang, Ron Masulis, Peter Pham, Jason Zein, Internal Capital Markets in Family Business Groups During the Global Financial Crisis (2015 FMA European Conference, 2015 FMA Asian Conference, 2015 NFA Annual Meeting)

Jerry Parwada, Donald Winchester and Bohui Zhang, Heterogeneous investors, trading frenzies, and information flow around public information releases (2015 EFA Annual Meeting)

Chung Yuen, The Economic Consequences of Monetary Policy Uncertainty (2015 EFA Annual Meeting, 2015 NFA Annual Meeting)

Zhe An, Donghui Li, Jin Yu, Firm Crash Risk, Information Environments, and Speed of Leverage Adjustment (2014 FMA Annual Meeting)

Zhe An, D. Li and J. Yu, Earnings Management, Capital Structure, and the Role of Institutional Environments (2014 AAA Annual Meeting)

Zhe An, Garland Huang, D. Li and S Xiao, Foreign Institutional Ownership, Risk-Taking, and Crash Risk Around the World (2014 FMA Annual Meeting)

Zhe An, National Culture and Acquisition Choices (2014 EFMA, Doctoral Presentation)

Ning Ding, J. Parwada and Jianfeng Shen, Information Sharing within the Networks of Delegated Portfolio Managers: Evidence from Plan Sponsors and Their Investment Managers (2013 FMA Asian Conference and 2013 FMA Annual Meeting)

Ying Dou, Going when the going gets tough: does the labour market penalize pre-emptive director resignations (2014 FMA Annual Meeting 2014 FMA Doctoral Student Consortium)

Seul Koo, Industry Structure, Loan Contract Terms, and the Role of Firm-level and Country-level Corporate Governance (2012 FMA Europe)

Yixuan Rui, Financial Transaction Tax and Market Quality: Evidence from the French FTT Regulation in 2012 (2014 FMA Annual Meeting)

F. Moshirian, X. Tian, Zhengyuan Wang and B. Zhang, Financial Liberalization and Innovation (2014 WFA Annual Meeting, 2014 NFA Annual conference)

Kenny Siaw, Empirical Test of The Liquidity-Based Theory of Closed-End Funds (2014 FMA Asian Conference, 2014 FMA Annual Meeting, 2014 NFA Annual Meeting)7th Conference on Professional Asset Management, Rotterdam)

Mark Humphery-Jenner, Emma Zhang (with Ronan Powell), The Impact of Divestiture Experience on Divestiture Types, Performance, and Use-of Proceeds (2014 FMA Annual Meeting, 2014 FMA Doctoral Student Consortium, 2014 FMA European Conference)

Emma Zhang, Divestiture, experience and strategic renewal (FIRN annual meeting 2013; 15th Annual Money and Finance Conference, IGIDR)

Emma Zhang, Lifting the veil of serial divestitures: Evidence in support of their strategic nature (2013 2nd Sirca Young Researcher Workshop)

Mark Humphery-Jenner (with Suman Banerjee, Lili Dai, Vikram Nanda), Executive Confidence and New CEO Selection (2014 FMA Annual Meeting)

Mark Humphery-Jenner (with Li Ge, Tse-Chun Lin), Informed Options Trading Prior to Bankruptcy Filings (2014 FMA Annual Meeting)

L. Guo and Yue Lu, Overconfident CEOs as Outside Directors: Are They Facilitators for Innovation? (2014 China International Conference in Finance, Chengdu China)

A. Chapman-Davies, J. Parwada and Eric Tan, The impact of scandals on mutual fund performance, money flows, and fees (2014 CFA-JCF-Schulich Conference, Toronto)

R. Faff, J. Parwada and Eric Tan, Did Bank-Related Hedge Funds “Benefit from Bailouts During the Financial Crisis of 2007-2009” (2014 International Risk Management Conference, Warsaw Poland)

Matthias Thul and A. Zhang, Analytical Option Pricing under an Asymmetrically Displaced Double Gamma Jump-Diffusion Model (2014 Bachelier Finance Society Conference, 2014 EFMA, 17th Conference of the Swiss Society For Financial Market Research, Zurich)

Alexander Vadilyev, Positive Asymmetry and Systematic Propensity to Save (2014 NFA Conference)

Alexander Vadilyev, How Sensitive is Corporate Demand for Internal Liquidity to Financial Development (2014 Bachelier Finance Society Conference. 2014 FMA Annual Meeting)

Sidharth Sahgal, Should outside directors have term limits? The role of experience in corporate governance (2013 FIRS Conference and 2013 FMA Annual Meeting)

Eric Tan, Managerial Replacements in Mutual Fund Families (2013 FMA Annual Meeting Doctoral Consortium)

Matthias Thul and Ally Quan Zhang, Analytical Option Pricing under an Asymmetrically Displaced Double Gamma Jump-Diffusion Model (2013 Australasian Finance & Banking Conference, Sydney, 2014 Conference of the Southwestern Finance Association, Dallas, USA, 11th German Probability & Statistics Days, 2014, Ulm, Germany, 50th Anniversary Meeting of the Eastern Finance Association, 2014, Pittsburgh, USA, 2014 FMA European Conference

Alexander Vadilyev, How Sensitive is Corporate Demand for Internal Liquidity to Financial Development? (50th Anniversary meeting of the EFA)

Sarah Azzi and J. Suchard, The Investment Decisions of Foreign and Local Investors in Private Equity Funds in China (2013 China International Conference in Finance, Shanghai China)

Sarah Azzi and J. Suchard, Listed Private Equity, Announcement Returns and Liquidity (2012 Annual Meeting of the Academy of Entrepreneurial Finance - New York)

F. Moshirian, Sidharth Sahgal and B. Zhang, Non-interest income and systemic risk: The role of concentration (2012 CICF, 2012 FMA Europe, 2011 NY Federal Reserve, 2013 Reserve Bank of Australia)

Brandon Chen and P. Swan, CEO Incentives and Institutional Trader Monitoring are Substitutes: Theory and Evidence (2012 AFA Annual Meeting; 2010 China International Conference in Finance, Beijing, China)

Mark Humphery-Jenner and E. Wu, Exchange Trading Rules, Governance, and Trading Location of Cross-Listed Stocks (2012 Financial Management Association Meeting – Asia, 2012 Financial Management Association Meeting – Europe)

Mark Humphery-Jenner, Minimum Variance Portfolios as a Less Biased Estimator of the Efficient Frontier (2012 Bachelier Finance Society Conference)

Mark Humphery-Jenner, Takeover Protection as a Driver of Innovation and Value Creation (2012 Financial Management Association Annual Meeting)

Amy Kwan, Sub-penny pricing and the competition for order flow (2012 Financial Management Association Annual Meeting)

Brandon Chen, Board Monitoring and the Wall Street Rule, (2011 FMA Annual Meeting, Denver; 2011 Asian FMA Conference; 2011 FMA European Conference Porto, Portugal; 2010 FMA - Doctoral Student Consortium, New York)

Brandon Chen, Institutional Trader Monitoring and Firm Performance (2010 FMA Annual Meeting, Special PhD Paper Presentation Session, New York; 2010 Northern Finance Association Annual Meeting, Winnipeg, Canada; 2010 FMA Asian Conference - Doctoral Student Consortium, Singapore)

J. Harford, Mark Humphery-Jenner and R. Powell, The Sources of Value Destruction in Acquisitions by Entrenched Managers (2011 EFA Annual Meeting)

Mark Humphery-Jenner, On the Harmonization of Takeover Laws: Lessons from the EU Takeover Directive (2011 Conference on Empirical Legal Studies)

N. Oh, J. Parwada and Eric Tan, Do regulated mutual fund fees affect competition, fund flows and performance? Evidence from U.S. equity funds, (2011 FMA European Conference)

R. Faff, J. Parwada, Eric Tan, Were bank bailouts effective during 2007-2009 financial crisis? Evidence from counterparty risk in the global hedge fund industry (2010 EFA Annual Meeting)

N.Oh, J. Parwada, M. Skully, Eric Tan, What if mutual fund fees were regulated? Evidence from China (2009 FMA Annual Meeting)

Claire Liu’s paper “Monitoring the Monitor Distracted Institutional Investors and Board Governance” (with Ron Masulis and Le Zhang) won the Runner-up prize for Best Paper Award at the 2017 Auckland Finance Meeting. 

Doctoral Symposium Best Paper Award at the Auckland Finance Meeting, 2017

Lubna Rahman and Emdad Islam's paper "Watching the Wolves: Unveiling the Moderating Role of Corporate Governance on CEO Power" won the doctoral symposium best paper award at the Auckland Finance Meeting, 18 – 20 December 2017.

Best Paper Award at the Conference on Asia-Pacific Financial Markets (CAFM), Seoul Korea, 2016

Claire Liu’s paper “Monitoring the Monitor Distracted Institutional Investors and Board Governance” (with Ron Masulis and Le Zhang) won the best paper award at the Conference on Asia-Pacific Financial Markets, Seoul Korea 2-3 December 2016.

Best Paper Presentation in Finance Award at the PhD Conference in Business and Economics, University of Western Australia, 2016

Emma Zhang's paper “Preoccupied Independent Directors” won the best paper presentation in finance award at the PhD Conference in Business and Economics, University of Western Australia, 9 – 11 November 2016.

Doctoral Symposium Best Paper Award at the Auckland Finance Meeting, 2016.

Emma Zhang’s paper “Preoccupied Independent Directors” also won the doctoral symposium best paper award at the Auckland Finance Meeting, 16 – 18 December 2016.

Best paper award at the Southwestern Finance Association conference (SWFA) 2015

Alvin Ang's paper with Ron Masulis, Peter Pham and Jason Zein, "Internal Capital Markets in Family Business Groups During the Global Financial Crisis" won a best paper award in International Finance at the SWFA conference in Houston, Texas 

The Asia Private Equity Institute at Singapore Management University (APEI) is pleased to announce that the winners of the APEI Research Awards 2014–15 are Professors Jerry Cao (SMU), Mark Humphery-Jenner (UNSW) and Jo-Ann Suchard (UNSW) for their paper “Government ownership and venture performance: Evidence from China.” The authors will be invited to present their research to an audience of private equity practitioners, academics and students at an APEI– sponsored event in the first quarter of 2015.

Best paper award at the CAFM conference, Korea

Mark Humphery-Jenner’s paper (with Suman Banerjee, Vik Nanda and Mandy Tham), "Why do Executives Commit ‘Fraud on the Market’? Executive Overconfidence and Securities Class Actions” won a best paper award at the CAFM conference, KOREA, 5-8 December 2014

Alexander Vadilyev, What Drives Investment-Cash Flow Sensitivity across the World” with Fariborz Moshirian, Vikram Nanda and Bohui Zhang, Outstanding Paper Award 2013 by the Korean Securities Association

Chicago Trading Company Outstanding Paper in Derivatives Award - Matthias Thul (of UNSW) Analytical Option Pricing under a Displaced Gamma Jump-Diffusion Model (with A. Zhang) awarded at the 50th Anniversary meeting of the EFA

Brandon Chen awarded best paper in the field of Corporate Finance, 2011 Asian FMA meetings