Two PhD students from the Australian School of Business (ASB) have been awarded a prestigious scholarship offered to young researchers who demonstrate high potential for future leadership.
Chung Wain Yuen and Pavle Radicevic from the School of Banking and Finance have received Ryoichi Sasakawa Young Leaders Fellowship Fund scholarships (Sylff).
The Sylff scholarships are offered to full time ASB PhD students with future leadership potential in international affairs, public life and private endeavours.
Chung Wain Yuen's research will examine the strategic behaviour of banks, depositors and financial sector regulators, with a particular focus on the phenomenon of bank runs. These often occur in times of financial crisis when depositors withdraw their deposits from banks, in turn forcing the bank to liquidate its assets at a loss.
Chung says, "During the global financial crisis, behaviour characteristic of bank runs emerged in a variety of non-traditional scenarios, affecting institutions such as hedge funds. Given the risk to financial system stability and the wider cost to the economy, I am interested in the tools available to policymakers to deal with bank runs or to prevent runs occurring in the first place."
"In regards to the Sylff scholarship, I am grateful for the support it provides in allowing me to pursue my research. I hope to meet and share ideas with other scholars in the future," says Chung.
Pavle Radicevic will investigate the impact of corporate governance on open-market share repurchase decisions. In particular, he will focus on the role of corporate governance and the use of share repurchase announcements as a mechanism for conveying false signals.
"Besides providing me with additional financial support during my PhD study, the Sylff scholarship provides valuable access to already an established network of research institutions throughout the world. Sylff acts as a medium for collaboration in research, which is imperative if one is to be successful in today's fast paced research environment," says Pavle.
Established in 1987, the Sylff Program is a collaborative undertaking of the three parties: The Nippon Foundation, which donated the original fund, the Tokyo Foundation, responsible for overall program management, and the 69 Sylff universities, including UNSW which operates the actual fellowship program.
This year's Sylff scholarships were offered to new PhD students who have been awarded a UNSW international or local research scholarship. The Sylff scholarship will last for the duration of their UNSW scholarship.