Program Schedule
Detailed List of Sessions:
Session 1: Human–AI Interaction: Bias, Collaboration, and Substitution
AI | Friday, December 11 | 9:30–12:30
Session Chair: Songtao Tan, Renmin University of China
Behavioral Machine Learning? Regularization and Forecast Bias
By Murray Frank; University of Minnesota
Jing Gao; Peking University
Keer Yang; University of California-Davis
Presented by: Jing Gao, Peking University
Discussant: Alan Zhang, Iowa State University
The Financial Impact of Non-Financial Beliefs in Large Language Models
By Tong Li; Xiamen University
Dragon Yongjun Tang; University of Hong Kong
Luping Yu; University of Macau
Presented by: Tong Li, Xiamen University
Discussant: Alan Kwan, University of Hongkong
Human-AI Collaboration in Corporate Valuation: Experimental Evidence with a Valuation AI Agent
By Miao Liu; Boston College
Presented by: Miao Liu, Boston College
Discussant: Jing Xie, University of Macau
How Does Human–Machine Collaboration Work? — Evidence From Auto Finance Leasing Transactions
By Yao Lu; Tsinghua University
Hanqing Shi; Central University of Finance and Economics
Yanling SUN; Politecnico di Milano
Zhishu Yang; Tsinghua University
Presented by: Hangqing Shi, Central University of Finance and Economics
Discussant: Ren Yuan, Zhejiang University
Will Human Creatives Survive Generative AI Shocks?
By Jiasun Li; George Mason University
Presented by: Jiasun Li, George Mason University
Discussant: Dongliang Lu, Tsinghua University
Session 2: Geopolitics and Investment
Politics | Friday, December 11 | 9:30–12:30
Session Chair: Alminas Zaldokas, National University of Singapore
Who Benefits from Trade Wars?
By Ling Cen; The Chinese University of Hong Kong
Lauren Cohen; Harvard Business School
Jing Wu; The Chinese University of Hong Kong
Fan Zhang; The University of Sydney
Presented by: Ling Cen, The Chinese University of Hong Kong
Discussant: Kaiji (Robin) Gong, Hong Kong University of Science and Technology
The Geoeconomics of Imports: Evidence from UN Security Council Elections
By Yanduo Chen; Singapore Management University
Jing Wu; The Chinese University of Hong Kong
Presented by: Yanduo Chen, Singapore Management University
Discussant: Sanguen Ha, Copenhagen Business School
Roadblocks and Reconfiguration: Sanctions and the Geography of Corporate Control
By Xiaoming Li; University of International Business and Economics
Mingmei Liu; Jinan University
Yi Xue; University of International Business and Economics
Presented by: Mingmei Liu, Jinan University
Discussant: Shashwat Alok, Indian School of Business, Hyderabad
Advanced-Compute Constraints and the Direction of Corporate AI Innovation: Evidence from U.S. Export Controls on AI Chips
By Chun Li; Renmin University of China
Presented by: Chun Li, Renmin University of China
Discussant: Max Alekseev, HKUST
Hedging Uncertainty with Expertise: Perceived Policy Uncertainty and Strategic Human Capital Reconfiguration
By Guowei Cai; Sun Yat-Sen University
Ruishan Zhang; Sun Yat-sen University
Tiecheng Leng; Harbin Institute of Technology
Presented by: Tiecheng Leng, Harbin Institute of Technology
Discussant: Fangyuan Ma, Peking University HSBC Business School
Session 3: Financial Markets, Climate Policy, and Corporate Climate Incentives
Climate | Friday, December 11 | 9:30–12:30
Session Chair: Nianhang Xu, Renmin University of China
Going Green Like China
By Wenxi Jiang; The Chinese University of Hong Kong
Xinyi Shao; Renmin University of China
Presented by: Wenxi Jiang, Chinese University of Hong Kong
Discussant: Tao Shen, Tsinghua University
Beyond Greenwashing: ESG Disclosure Substance, Investor Flows, and Fund Behavior
By Da Chen; Lancaster University
Tao Shu; Chinese University of Hong Kong, Shenzhen
Yaqiong Yao; Lancaster University Management School
Presented by: Chelsea Yao, Lancaster University Management School
Discussant: Ruishen Zhang, University of Hong Kong
Public Policy and Private-Sector Prosocial Efforts: The Case of Greenhouse Gas Emissions
By Jiaqi (Jacky) Zheng; Peking University HSBC Business School
Presented by: Jiaqi Zheng, Peking University HSBC Business School
Discussant: Kevin Tseng, Chinese University of Hong Kong
Flight to Climate Mandates: The Policy Put Option in Green Bond Pricing
By Junyong He; Beijing International Studies University
Presented by: Junyong He, Beijing International Studies University
Discussant: Xin Liu, University of Macau
Climate Adaptation Infrastructure and Corporate Debt Financing Costs
By Enping Yu; Shanghai Lixin University of Accounting and Finance
Yun Shi; East China Normal University
Zhongxin Ni; Shanghai University
Yu Chen; Shanghai University of Finance and Economics
Presented by: Enping Yu, Shanghai Lixin University of Accounting and Finance
Discussant: Zheyuan Yang, Tsinghua University
Session 4: Corporate AI: Investment, Adoption, and Organizational Change
AI | Friday, December 11 | 15:00–18:00
Session Chair: Runhong Ma, Renmin University of China
Corporate Venture Investments in Generative AI: A Focus on the USA and China
By Maya Cara; UCL
Lora Dimitrova; University of Exeter
Haibo Jiang; School of Management, University of Quebec at Montreal
Presented by: Lora Dimitrova, University of Exeter
Discussant: Fuxing Zhai, Renmin University of China
Geopolitics Meets AI War: Stock Market Evidence from China
By Lin William Cong; Nanyang Technological University
Siguang Li; Hong Kong University of Science and Technology (Guangzhou)
Fan Wang; Hong Kong University of Science and Technology (Guangzhou)
Yi Zhang; Hong Kong University of Science and Technology (Guangzhou)
Presented by: Yi Zhang, Hong Kong University of Science and Technology (Guangzhou)
Discussant: Wenxi Jiang, Chinese University of Hong Kong
How Financial Markets Shape AI Adoption: Washing, Hype, and the Underinvestment in Data
By Qing Chang; Tsinghua University
Longtian Zhang; Central University of Finance and Economics
Presented by: Longtian Zhang, Central University of Finance and Economics
Discussant: Dan Su, Cheung Kong Graduate School of Business
AI and Productivity: The Role of Innovation
By Viral V. Acharya; New York University
Xuehua Shao; University of New South Wales
Zhaoxia Xu; University of New South Wales
Presented by: Xuehua Shao, University of New South Wales
Discussant: Xiang Yin, Tsinghua University
Generative AI and CEO Compensation
By Zhangchao Li; University of Melbourne
Joanna (Xiaoyu) Wang; Peking University
Presented by: Joanna Wang, Peking University
Discussant: Jie Chen, Leeds University
Session 5: Understanding Geopolitics via Finance
Politics | Friday, December 11 | 15:00–18:00
Session Chair: Yan Dong, Shanghai Advanced Institute of Finance
Flow-Based Geopolitical Risk
By Jinfei Sheng; University of California, Irvine
Chenxi Zhang; Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University
Chao Zi; Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University
Presented by: Chao Zi, Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University
Discussant: Darwin Choi, Hong Kong University of Science and Technology
How Global Equity Funds Rebalance under Geopolitical Risk: Asymmetric Responses of U.S. and Non-U.S. Capital
By Zefeng Chen; Peking University
Zhiquan Shao; Nankai University
Presented by: Zefeng Chen, Peking University
Discussant: Xiang Fang, University of Hong Kong
Global Political Ties and the Global Financial Cycle
By Gene Ambrocio; Bank of Finland
Iftekhar Hasan; Fordham University
Xiang Li; Halle Institute for Economic Research
Presented by: Xiang Li, Halle Institute for Economic Research
Discussant: Tianhao Yao, Singapore Management University
War herbicide and Corporate Bank Borrowing
By Luu Duc Toan Huynh; Queen Mary University of London
Presented by: Toan Huynh, Queen Mary University of London
Discussant: Hoa Briscoe-Tran, Monash University
Talking Politics in Bad Times: An LLM Measure of Lobbying Narration and the Pricing of Bad News
By Prince Roy; State University of New York at Buffalo
Yaoping Xu; State University of New York at Buffalo
Presented by: Yaoping Xu, State University of New York at Buffalo
Discussant: Bo Li, Peking University
Session 6: Financing the Green Transition
Climate | Friday, December 11 | 15:00–18:00
Session Chair: Changyun Wang, Renmin University of China
Shallow greening: financial frictions and the composition of compliance
By Xiang Shi; Xiamen University (Malaysia)
Jun Yu; University of Melbourne
Presented by: Jun Yu, University of Melbourne
Discussant: Dongxu Li, Xiamen University
Monitoring the Green Line: Environmental Covenants in Supply Chain Contracts
By Ling Cen; The Chinese University of Hong Kong
Ting Dai; Hanken School of Economics
Michael Hertzel; Arizona State University
Scott Liao; University of Toronto
Presented by: Ling Cen, The Chinese University of Hong Kong
Discussant: Tingting Que, University of Macau
Is Carbon Emission Risk Priced in Supply Chains?
By Chenyu Shan; Shanghai University of Finance and Economics
Dragon Yongjun Tang; The University of Hong Kong
Qian Zheng; Shanghai University of Finance and Economics
Presented by: Chenyu Shan, Shanghai University of Finance and Economics
Discussant: Xiao Zhao, Shanghai Advanced Institute of Finance
A Regulatory Nudge towards Going Green
By Chao Gao; Australian National University
Dayong Huang; University of North Carolina at Greensboro
Yuhang Xing; Rice University
Presented by: Chao Gao, Australian National University
Discussant: Amit Kumar, Singapore Management University
The Financial-Stability Marginal Value of Climate Policy: Evidence from Chinese Banks
By Xu Wenli; City University of Macau
Weijia Wang; Xi'an Jiaotong University
Presented by: Weijia Wang, Xi'an Jiaotong University
Discussant: Haoyu Gao, Renmin University of China
Session 7: AI, Information, and Financial Markets
AI | Saturday, December 12 | 9:00–12:00
Session Chair: Fuxin Zhai, Renmin University of China
Does Generative AI increase investment convergence?
By SUMIT Agarwal; National University of Singapore
Yue Zhang; Sun Yat-sen University
Presented by: Yue Zhang, Sun Yat-sen University
Discussant: Jinfan Zhang, Chinese University of Hong Kong (Shenzhen)
How Generative AI Shapes Retail Investor Behavior: Evidence from a Staggered Rollout of an AI Investment Assistant
By Maggie Hu; Baruch College
Honghai Yu; Nanjing University
Bohui Zhang; The Chinese University of Hong Kong, Shenzhen
Zhixuan Zhao; Nanjing University
Presented by: Zhixuan Zhao, Nanjing University
Discussant: Ke Shi, Shanghai Advanced Institute of Finance
The Rise of Machine Readers: Automated Information Acquisition and Stock Market Anomalies
By Shan Chen; Southwestern University of Finance and Economics
Xingyu CHEN; Southwestern University of Finance and Economics
Zilin Chen; Lingnan University
Jiahua Lai; Guangdong University of Foreign Studies
Presented by: Shan Chen, Southwestern University of Finance and Economics
Discussant: Zhuo Chen, Tsinghua University
Generative AI in News Production and Stock Price Crash Risk: Evidence from China
By Guangzhong Li; Sun Yat-sen University
Zehao Wang; Sun Yat-sen University
Presented by: Zehao Wang, Sun Yat-sen University
Discussant: Yizhou Xiao, Chinese University of Hong Kong
Who Captures the Value of Generative AI? Evidence from Stock Market Revaluation of AI Assets
By Fenghui Lai; Huazhong University of Science and Technology
Presented by: Fenghui Lai, Huazhong University of Science and Technology
Discussant: Wenyu Wang, Indiana University
Session 8: Polarization and Corporate Externalities
Politics | Saturday, December 12 | 9:00–12:00
Session Chair: Ling Cen, Chinese University of Hong Kong
Political Ideology Turnover and Carbon Emissions: Evidence from Global Plant-level Data
By Peter Kien Pham; University of Sydney
Buhui Qiu; University of Sydney
Zeyu Wang; The university of sydney
Presented by: Zeyu Wang, The university of sydney
Discussant: Teodor Duevski, Chinese University of Hong Kong
Uncertainty as Opportunity: Political Polarization and High-Growth Startups
By Adel Khusnulgatin; Peking University HSBC Business School (PHBS)
Presented by: Adel Khusnulgatin, Peking University HSBC Business School (PHBS)
Discussant: Ben Charoenwong, INSEAD
Political Divergence and Interfirm Cooperation: Evidence from Strategic Alliance
By Tingting Que; University of Macau
Miaomiao Yu; University of North Carolina at Charlotte
nuoyao zong; University of Macau
Presented by: Tingting Que, University of Macau
Discussant: Lora Dimitrova, University of Exeter
Does Government Listen to the Public? Measuring Democratic Responsiveness and Its Impact on Business Performance
By Changhyun Ahn; Lingnan University
Chanik Jo; The Chinese University of Hong Kong
Camilla Song; City University of Hong Kong
Joonwoo Yang; Korea Advanced Institute of Science and Technology
Presented by: Chanik Jo, Chinese University of Hong Kong
Discussant: Elena Stella, National University of Singapore
Session 9: Finance and Climate Adaptation
Climate | Saturday, December 12 | 9:00–12:00
Session Chair: Dongxu Li, Xiamen University
The Economics of Financial and Operational Hedging: Insights from U.S. Power Plants
By Alvin Chen; Stockholm School of Economics
Ran Guo; Shanghai Advanced Institute of Finance
Haohang Wu; Stockholm School of Economics
Dong Yan; Shanghai Advanced Institute of Finance
Presented by: Dong Yan, Shanghai Advanced Institute of Finance
Discussant: Guanmin Liao, Renmin University of China
Forced Entry: Climate Change and Necessity Entrepreneurship
By Haoyu Gao; Renmin University of China
Yongqi Jia; Renmin University of China
Peixuan Zhao; Renmin University of China
Presented by: Peixuan Zhao, Renmin University of China
Discussant: Emirhan Ilhan, National University of Singapore
Households First, Production Second: Extreme Heat and Overseas Subsidiary Networks
By Haoyu Gao; Renmin University of China
Yuting Hua; Renmin University of China
Zhengqi Wang; Renmin University of China
Presented by: Yuting Hua, Renmin University of China
Discussant: Xinming Li, Nankai University
When Is Divestment Effective: Blockholder Exit under Preference Heterogeneity
By Huiyao Chen; Tsinghua University
Itay Goldstein; University of Pennsylvania and NBER
Presented by: Huiyao Chen, Tsinghua University
Discussant: Xingtan Zhang, Cheung Kong Graduate School of Business