10th Annual New Zealand Finance Colloquium
Thursday 26 January
Session Time Title   Author(s)   Presenter
Welcome Lunch  12:00 Greeting and Light Lunch
Banking  13:00 Measuring Scale Economies in New Zealand Banking - Traps for the Unwary   David Tripe   David Tripe
Wealth Effects of Forced Bank Mergers and Cronyism   Chong, Liu & Tan   Ming-Hua Liu
Can Market Discipline Substitute for Bank Supervision?  New Zealand Banks Tested   Wilson, Rose & Pinfold   William Wilson
Derivatives  13:00 Risks Inherent to Automatic Option Exercises on NASDAQ Stocks   Maberly & Catania   Edwin Maberly
Trading for News: An Examination of Intraday Trading Behaviour of Australian Treasury-Bond Futures Markets   Zou & Zhang   Liping Zou
Valuing Real Options using Implied Binomial Trees and Commodity Futures Options   Arnold,  Crack & Schwartz   Timothy Crack
Tea  14:30 Tea, Coffee, Soft Drinks and Snacks
Corporate     Governance  15:00 Do CEOs Slow Down When Getting 'Passed the Baton'?  Agency Costs of CEO Succession-Securing Behavior   Altintig, Johnson & Ryan   Ayca Altinig
How Much Do Employee Stock Options Really Cost?   Boyle, Clyne & Roberts   Glenn Boyle
Derivative Use and Investment: An Empirical Analysis of New Zealand Listed Companies   Reynolds & Boyle   Murray Reynolds
 Predictability & Anomalies   15:00 Accruals and Cash Flows Anomalies: Evidence from the New Zealand Stock Market   Koerniadi & Tourani-Rad   Hardjo Koerniadi
Spurious Regression. Spurious Correlation, and Dividend Return Predictability   Powell, Shi, Smith & Whaley   Jing Shi
Season, Size and Value Anomalies   Jacobsen, Mamun & Visaltanachoti   Nuttawat Visaltanachoti
 PBRF Forum    16:30  Glenn Boyle, Larry Rose and Alireza Tourani-Rad will discuss the previous and upcoming PBRF rounds.   
 Colloquium Dinner  18:30 Drinks Plato Café
19:00 Dinner 2 Birch Street (Near Custom House Quay)
10th Annual New Zealand Finance Colloquium
Friday 27 January
Session Time Title   Author(s)   Presenter
Regulation  8:30 Insider Trading in an Illiquid Market: Regulation and the Components of the Bid-Ask Spread   Frijns, Gilbert & Tourani-Rad   Aaron Gilbert
The Impact of Disclosure Reform on the NZX's Financial Information Environment   Huang, Marsden & Poskitt   Alistar Marsden
Regulation Fair Disclosure: An Analysis of SEC Enforcement Actions   Griffin, Lont & Segal   David Lont
International  8:30 The World Price of War and Peace   Berkman & Jacobsen   Ben Jacobsen
Peer Effects in Investor Trading Decisions: Evidence from a Natural Experiment   Ng & Wu   Fei Wu
The Performance of Yankee Issuers' Original IPOs   Yang & Lau   Ting Yang
Tea 10:00 Tea, Coffee, Soft Drinks and Snacks
Miscellaneous  10:30 Waiting to Invest in the New Zealand Stock Market   Choi & Fu   Daniel Choi
International Asset Allocation Incorporating Reversals to Foreign Exchange Rate Deviations from PPP   Qiu, Pinfold & Rose   Larry Rose
Asymmetric Hedging of the Corporate Terms of Trade   Bowden & Zhu   Roger Bowden
Volatility  10:30 Testing for Financial Spillover in Calm and Turmoil Periods   Bialkowski, Bohl & Serwa   Jedrzej Bialkowski
Dynamic Asymmetric Tail Dependence in Asian Developed Futures Markets   Xu, Li & Mamun   Qing Xu
How Does Liberalization Impact Exceedence Correlation?  Evidence from Emerging Stock Markets   Li & Rose   Xiao-Ming Liu
Lunch & Business  12:00 Colloquium Lunch
ISCR & INFINZ prizegivings for best paper in regulation or corporate finance and investments respectively
Colloquium business meeting
Scott Chaput, Editor
Programme Committee
David Alexander
Gurmeet Bhabra