Activity 2016

 

KCMI - KAFA - SKK GSB Joint International Conference

          - Celebration of 25^th Anniversary of KAFA

 

June 3, 2016, SKK GSB, Sungkyunkwan University

 

Organizing Committee:

Dong-Hyun Ahn, President, Korea Capital Market Institute

Inhyung Lee, Vice-President, Korea Capital Market Institute

Jae Ha Lee, Dean, SKK GSB, Sungkyunkwan University

Saeyoung Chang, KAFA President, University of Nevada, Las Vegas

Chan Wung Kim, KAFA Immediate Past President, University of Massachusetts Lowell

Soku Byoun, KAFA President-Elect, Baylor University

Jin-Mo Kim, KAFA Secretary General, Rutgers University

Ha-Chin Yi, KAFA Treasurer, Texas State University

Woojin Kim, KAFA Secretary General in Korea, Seoul National University

 

Advisory Committee:

Beomsik Jang, Executive Vice-President, Soongsil University

 

Sponsors:

Korea Capital Market Institute

SKK GSB, Sungkyunkwan University

Korea Investment & Securities

KDB Daewoo Securities

Financial News

Shinhan Bank

 

Conference Theme of Morning Sessions:

“Issues in Investment Banking in Korea” (Tentative)

 

PROGRAM:

 

Friday, June 3, 2016

 

Registration and Continental Breakfast

8:00 – 9:00

Reception Hall (SKK GSB)

Ha-Chin Yi, KAFA Treasurer, Texas State University (Registration and Support)

 

Welcome Remark

9:00 – 9:15

Tiered Classroom I (SKK GSB)

Dong-Hyun Ahn, President, Korea Capital Market Institute

Jae Ha Lee, Dean, SKK GSB, Sungkyunkwan University

Saeyoung Chang, KAFA President, University of Nevada, Las Vegas

 

Keynote Speech

9:15 – 10:05

Tiered Classroom I (SKK GSB)

Dong-Hyun Ahn, President, Korea Capital Market Institute

 “An Empirical Evidence on Funding Liquidity and Market Liquidity”

 

Coffee Break

10:05 -10:20

Reception Hall (SKK GSB)

 

Panel Session: Contestability and Strategy of Securities Industry in Korea (Tentative)

10:20 – 12:00

Tiered Classroom I (SKK GSB)

Moderator: Inhyung Lee, Vice-President, Korea Capital Market Institute

Panelists:

Yong Rin Park, Research Fellow, Korea Capital Market Institute

“Contestability of Securities Industry in Korea and Potential for Structural Change”

Soon Young Choi, Research Fellow, Korea Capital Market Institute

“Characteristics and Determinants of Overseas Entry of Korean Securities Firms”

(TBA)

(TBA)

 

Luncheon

12:00 - 13:30

Reception Hall (SKK GSB)

 

Academic Session I

13:30 – 15:15

Session 1: Issues in Stock Valuation

Tiered Classroom I (SKK GSB)

Session 2: Corporate Governance Issues

Tiered Classroom II (SKK GSB)

 

Coffee Break

15:15 -15:30

Reception Hall (SKK GSB)

 

Academic Session II

15:30 – 17:50

Session 3: Investor Behavior in Capital Markets

Tiered Classroom I (SKK GSB)

Session 4: Corporate Policy Issues

Tiered Classroom II (SKK GSB)

 

Dinner

18:00 –

Reception Hall (SKK GSB)

 

 

 

13:30~15:15  Academic Session I

 

Session 1: Issues in Stock Valuation

 

Chair: Kee H. Chung (State University of New York at Buffalo)

 

Topics	Speakers	Discussants
The relative industry valuation hypothesis of cross-listing	Kee-Hong Bae (York University)	Ajai Singh (University of Central Florida)
Intangible Assets and the Book-to-Market Effect	Hyuna Park (Brooklyn College of the City University of New York)	Don Chance (Louisiana State University)
The Value and Profitability Premiums	Hong Yan (Shanghai Advanced Institute of Finance)	Hyuna Park (Brooklyn College of the City University of New York)

 

 

Session 2: Corporate Governance Issues

 

Chair: Jongmoo Jay Choi (Temple University)

 

Topics	Speakers	Discussants
Control beyond Ownership: Subcontractors of Large Business Groups	Jongsub Lee (University of Florida)	Dong-Wook Lee (Korea University)
Foreign Capital and Local Firms: Channels of Foreign Influence via Ownership, Board and Management	Jongmoo Jay Choi (Temple University)	Xuan Tian (Indiana University)
Geographic Concentration of Institutions, Corporate Governance, and Firm Value	Jun-Koo Kang (Nanyang Technological University)	Utpal Bhattacharya  (Hong Kong University of Science and Technology)

 

 

 

 

15:30~17:50  Academic Session II

 

Session 3: Investor Behavior in Capital Markets

 

Chair: Chan Wung Kim (University of Massachusetts Lowell)

 

Topics	Speakers	Discussants
Residual Momentum and Investor Underreaction in Japan	S. Ghon Rhee (University of Hawaii)	Hyoung-Goo Kang (Hanyang University)
Strategic Informed Trading and the Market Reaction to Earnings Announcements	Kee H. Chung (State University of New York at Buffalo)	Hong Yan (Shanghai Advanced Institute of Finance)
Investor Flows and Fragility in Corporate Bond Funds	David Ng (Cornell University)	Hugh Hoikwang Kim (SKK GSB Sungkyunkwan University)
Trading Restrictions and Supply Effects	Ajai Singh (University of Central Florida)	Seoyoung Kim (Santa Clara University)

 

 

Session 4: Corporate Policy Issues

 

Chair: Jun-Koo Kang (Nanyang Technological University)

 

Topics	Speakers	Discussants
Rollover Risk and Capital Structure Covenants in Structured Finance Vehicles	Seoyoung Kim (Santa Clara University)	Jongsub Lee (University of Florida)
Corporate Currency Risk Management: Policies, Practices, and the Great Divide	Don Chance (Louisiana State University)	Baeho Kim (Korea University)
Nominal Stock Price Anchors: A Global Phenomenon?	Utpal Bhattacharya (Hong Kong University of Science and Technology)	Eunju Lee (University of Massachusetts Lowell)
Labor Unions and Payout policy: A Regression Discontinuity Analysis	Xuan Tian (Indiana University)	Woochan Kim (Korea University)