PhD student achievements

Top-tier Finance Journal publications

List of publications success in top tier Finance journals by recent graduates and current students (names in bold)

In, F., Park, R., Xu, S. 2018, The Long-term Impact of Sovereign Wealth Fund Investments on Firm Value and Crash Risk, Journal of Financial Markets (forthcoming)
Masulis, R. and E. J. Zhang, 2018, How Valuable Are Independent Directors? Evidence from External Distractions, Journal of Financial Economics (forthcoming)
Rouxelin, F., Wongsunwai, W., and Yehuda, N., 2017, Aggregate Cost Stickiness in GAAP Financial Statements and Future Unemployment Rate, The Accounting Review (forthcoming)
Dou, Y., 2017, Leaving Before Bad Times: Does the Labor Market Penalize Pre-emptive Director Resignations?, Journal of Accounting and Economics, (forthcoming)
Md Emdadul Islam and Jason Zein, Inventor CEOs, Conference on Empirical Legal Studies (CELS), 2017
Luong. H, F. Moshirian, L. Nguyen, X. Tian, B. Zhang, How do foreign institutional investors enhance firm innovation?, Journal of Financial and Quantitative Analysis, forthcoming, 2017
Hatheway, F., A. Kwan and H. Zheng, 2016, An Empirical Analysis of Market Segmentation on U.S. Equities Market, Journal of Financial and Quantitative Analysis (forthcoming)
Humphery-Jenner, M., L. Lisic, V. Nanda and S. Silveri, 2016, Executive overconfidence and compensation structure, Journal of Financial Economics (forthcoming)
Oh, N., J. Parwada and K. Tan, 2016, Should Indirect Brokerage Fees Be Capped? Lessons from Mutual Fund Marketing and Distribution Expenses, Journal of Financial and Quantitative Analysis (forthcoming)
Banerjee S, M. Humphery-Jenner and V. Nanda, 2015, Restraining Overconfident CEOs through Improved Governance: Evidence from the Sarbanes-Oxley Act, Review of Financial Studies, 28(10), 2812-2858
Dang, T L, F. Moshirian, C. Wee, B. Zhang, 2015, Cross-listings and Liquidity Commonality Around the World, Journal of Financial Markets 22, 1-26
Dou, Y., S. Sahgal and E. Zhang, 2015, Should Independent Directors Have Term Limits? The Role of Experience in Corporate Governance, Financial Management (forthcoming)
An, Z., D. Li and J. Yu, 2014, Firm Crash Risk, Information Environments, and Speed of Leverage Adjustment, Journal of Corporate Finance, 31(1), 132-151
Dang, T L, F. Moshirian and B. Zhang, 2014, Commonality in News Around the World, Journal of Financial Economics (forthcoming)
Debapriya, J., J. Henker and S. Owen, 2014, Asset Legitimacy in Experimental Asset Markets, Journal of Behavioral Finance (forthcoming)
Deng, Hua, F. Moshirian, P. Pham and J. Zein, 2014, Creating Value by Changing the Old Guard: The Impact of Controlling Shareholder Heterogeneity on Firm Performance and Corporate Policies. Journal of Financial and Quantitative Analysis (forthcoming)
Humphery-Jenner, M., 2014, Takeover Defences as Drivers of Innovation and Value-Creation, Strategic Management Journal, 35 (5), 668-690
Humphery-Jenner, M. and R. Powell, 2014, Firm Size, Sovereign Governance, and Value Creation: Evidence from the Acquirer Size Effect, Journal of Corporate Finance, 26 (1), 57-77
Kwan, A., R. Masulis and T. McInish, 2014, Trading Rules, Competition for Order Flow and Market Fragmentation, Journal of Financial Economics (forthcoming)
Smith, G. and P. Swan, 2014, Do concentrated institutional investors really reduce executive compensation whilst raising incentives, Critical Finance Review, 3 (1), 49-83
Gardner, P.A, P. Swan and D Gallagher, 2013, Governance through Trading: Institutional Swing Trades and Subsequent Firm Performance, Journal of Financial and Quantitative Analysis, 48(2), 427–458
Humphery-Jenner, M., 2013, Diversification in Private Equity Funds: On Knowledge-Sharing, Risk-Aversion and Limited-Attention, Journal of Financial and Quantitative Analysis, 48 (5), 1545-1572
Humphery-Jenner, M., 2013, Strong Financial Laws Without Strong Enforcement: Is Good Law Always Better than No Law?, Journal of Empirical Legal Studies, 10(2), 288-324
Humphery-Jenner, M. and Suchard, J.-A., 2013, Foreign VCs and the Internationalization of Entrepreneurial Companies: Evidence from China, Journal of International Business Studies, 44 (6), 607-621
Humphery-Jenner, M. and J.-A Suchard, 2013, Foreign VCs and Venture Success: Evidence from China, Journal of Corporate Finance, 21, 16-35
Ramaprasad Bhar, Colwell, D and Xiao, Y, 2013, A jump diffusion model for spot electricity prices and market price of risk, Physica A: Statistical Mechanics and its Applications
Humphery-Jenner, M. 2012, The impact of the EU takeover directive on Takeover Performance and Asset Growth, Journal of Corporate Finance, 18, 254-272
Harford, J., M. Humphery-Jenner and R. Powell, 2012, The Sources of Value Destruction in Acquisitions by Entrenched Managers,Journal of Financial Economics 106 (2), 247-261
Humphery-Jenner, M. 2012, Private Equity Fund Size, Investment Size, and Value Creation, Review of Finance, 16, 799-835
Fong, K. P. A. Gardner and D. Gallagher, 2011, Follow the leader: fund managers trading in signal-strength sequence, Accounting & Finance 51, 684-710
Humphery-Jenner, M. and R. Powell, 2011, Firm size, Takeover Profitability, and the Effectiveness of the Market for Corporate Control: Does the Absence of Anti-takeover Provisions Make a Difference? Journal of Corporate Finance, 17(3), 418-437
Humphery-Jenner, M. and R. Powell, 2011, Firm size, takeover profitability, and the effectiveness of the market for corporate control: Does the absence of anti-takeover provisions make a difference? Journal of Corporate Finance 17(3), 418-437
Humphery-Jenner, M. 2011, Internal and External Discipline Following Securities Class Actions, Journal of Financial Intermediation21(1), 157-179
Humphery-Jenner, M., 2009, Internal and External Discipline Following Securities Class Actions, Journal of Financial Intermediation, 21(1), 157-179
Peter A. Gardner , P. Swan and D Gallagher, 2009, Portfolio Pumping: An Examination of Investment Manager Quarter-End Trading and Impact on Performance, Pacific-Basin Finance Journal, 17, 1-27

Finance conference presentations/acceptances

List of research papers by current students and recent graduates presented/accepted in leading, competitive Finance conferences (names in bold)

Seungho Choi, Does Bank Competition Increase Bank Liquidity Creation? A State-level Perspective, Financial Management Association (FMA) Asia/Pacific Conference (2018), Hong Kong
Emdad Islam (with Jason Zein), Inventor CEOs, 45th European Finance Association (EFA 2018), Warsaw
Emdad Islam, Lubna Rahman (with Jason Zein), Employee Satisfaction and Corporate Innovation: Evidence from Quasi-Exogenous Natural Experiments, China International Conference in Finance (CICF), 2018 (Tianjin, China)
Emdad Islam (with Jason Zein), Inventor CEOs, FMA Asia Pacific Conference (2018) Hong Kong, FMA European Conference (2018) Norway and FIRN (2017)
Emdad Islam, Lubna Rahman (with Mark Humphery-Jenner and Jo-Ann Suchard), Watching the Wolves: Unveiling the Moderating Role of Corporate Governance on CEO Power, FMA Asia Pacific Conference (2018) Hong Kong and FMA European Conference (2018) Norway
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).
Md Emdadul Islam and Jason Zein, Inventor CEOs, American Economic Association (AEA), 2018, Philadelphia, USA (Individual paper
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)
Md Emdadul Islam and Jason Zein, Inventor CEOs (CICF 2017, FMA 2017, NFA 2017 and Asian FA 2017)
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)

Recent Graduates

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)

Awards

Emdad Islam's paper "Inventor CEOs" (with Jason Zein) won the best paper award at the Financial Markets & Corporate Governance (FMCG) Conference , 5-7 April 2018

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

Editorial Board Membership

Recent graduate and current faculty member, Mark Humphery-Jenner, joins the Editorial Board of EMR

Mark Humphery-Jenner recently invited as Associate Editor of Emerging Markets Review (EMR). EMR accepts about 12% of papers and has a very strong and engaged advisory board.

Grants

Mark Humphery-Jenner for a Discovery Early Career Researcher Award (DECRA): $369,000 from 2015-2017

FIRN Masterclass and Applied Research Course Travel Scholarships 2013

Lubna Rahman, Jingrui Xu, Matthias Thul

Fellowship

Amy Kwan was awarded a 6 month NASDAQ fellowship