Programme for the 16th New Zealand Finance Colloquium

Thursday 9th February | Friday 10th February

9th - 10th February, 2012 download programme (updated 7 February, 09.30am)

Thursday 9th February 2012

12:30pm - 1:25pm

Venue: Quad B Staff Lounge, Level 3

1:30pm - 3:10pm

Session 1A: Capital Markets
Venue: QB8, Quad B, level 3
Chair: Amelia Pais, Massey University


Are Corporate Bond Market Returns Predictable?
Yongmiao Hong, Cornell University and Xiamen University
Hai Lin, University of Otago
Chunchi Wu,University at Buffalo


Can implied forward mortgage rates predict future mortgage rates? – recent New Zealand experience
David Tripe, Massey University
Bingru Xia, Massey University
Leigh Roberts, Victoria University


Modifying Guassian term structure models when interest rates are near the zero lower bound
Leo Krippner, Reserve Bank of New Zealand & Centre for Applied Macroeconomic Analysis (CAMA)


What drives issue spreads in the New Zealand commercial paper market?
Russell Poskitt, University of Auckland

1:30pm - 3:10pm

Session 1B: Banking Issues
Venue: QB7, Quad B, level 2
Chair: David Tripe, Massey University


From Competition to Cartel: Bank Mergers in the U.K. 1885 to 1925
Fabio Braggion, EBC, CentER & Tilburg University
Narly Dwarkasing,Tilburg University
Lyndon Moore, University of Melbourne


The effects of changes in liquidity rules under Basel III: evidence from New Zealand (updated 31 January 2012)
Jinyue Shi
David Tripe, Massey University


Asset Fire Sales, the Threat of Bank Runs, and Contagion
Yehning Chen, National Taiwan University
Iftekhar Hasan, Fordham University and Bank of Finland


Predicting bank financial distress prior to crises(updated 31 January 2012)
Necmi K. Avkiran, The University of Queensland
Lin (Cynthia) CAI, The University of Queensland

3:10pm - 3.25pm

To Top Afternoon Tea
Venue: Quad B Staff Lounge, Level 3

3:30pm - 5.10pm

Session 2A: Culture & Regulations
Venue: QB8, Quad B, level 3
Chair: Alexander Molchanov, Massey University


Trading Restrictions and Over-valuation of Covered Warrants in China
Ming-Hua Liu, Auckland University of Technology
Nanda K Rangan, Virginia Commonwealth University


A Proclivity to Cheat: How Culture influences Illegal Insider Trading
Bart Frijns, Auckland University of Technology
Aaron Gilbert, Auckland University of Technology
Alireza Tourani-Rad, Auckland University of Technology


Short Sell Restriction, Liquidity and Price Discovery: Evidence from Hong Kong Stock Market
Min Bai, Massey University
Yafeng Qin, Massey University


Partisanship and Corporate Performance
Art Durnev, University of Iowa
Jon Garfinkel, University of Iowa
Alexander Molchanov, Massey University

3:30pm - 5:10pm

Session 2B: Corporate Finance
Venue: QB7, Quad B, level 2
Chair: Jeffrey Stangl, Massey University


Does Ownership Concentration and Identity Matter: An Empirical Analysis of Publicly Listed Companies in New Zealand(updated 16 January 2012)
Krishna Reddy, The University of Waikato
Sazali Abidin, The University of Waikato
Wei He, The University of Waikato


New Zealand Corporate Boards in Transition: Composition, Activity and Incentives Between 1995 and 2010
Glenn Boyle, University of Canterbury
Xu (Jane) Ji, University of Canterbury


Determinants of a Firm’s decision to adopt a Dividend Reinvestment Plan: Australian Evidence
Mathew Abraham, The University of Auckland
Alastair Marsden, The University of Auckland
Russell Poskitt, The University of Auckland


Buybacks versus Ordinary Dividends: Marginal Investor reactions to Cash-return Announcements
Warwick Anderson, University of Canterbury
Samuel McLaughlin, University of Canterbury

5:30pm - 6:45pm

To Top Publishers Happy Hour hosted by Cengage & Pearson
Venue: Fergusson Bar (Albany Campus)

7:00pm -

Colloquium Dinner hosted by SIRCA
Venue: North Sea Village Restaurant, Level 3, 9-11 Corinthian Drive, Albany

Friday 10th February 2012To Top

08:00am - 09:40am

Session 3A: Personal Finance 1
Venue: QB8, Quad B, level 3
Chair: William Wilson, Massey University


How does the Official Cash Rate (OCR) Affect the Recent Housing Price in New Zealand?
Song Shi, Massey University
Jyh-Bang Jou, National Taiwan University
David Tripe, Massey University


Kiwisaver: Consumer Choices(updated 5 February 2012)
Claire Matthews, Massey University


The Role of Financial Experience in Creating Financial Knowledge
Bart Frijns, Auckland University of Technology
Aaron Gilbert, Auckland University of Technology
Alireza Tourani-Rad, Auckland University of Technology


Creative drafting of bond covenants - A New Zealand case(updated 31 January 2012)
Noel Yahanpath, Eastern Institute of Technology
Sarbjit Singh, Eastern Institute of Technology

08:00am -09:40am

Session 3B: Investments I
Venue: QB7, Quad B, level 2
Chair: Nuttawat Visaltanachoti, Massey University


Investing in vertical integration
Toby Daglish, Victoria University & New Zealand Institute for the Study of Competition and Regulation
Gabriel Fiuza de Bragan, Instituto de Pesquisa Economica Aplicada


Rare Disaster Risk and the Equity Premium Puzzle
Henk Berkman, University of Auckland
Ben Jacobsen, Massey University
John Lee, University of Auckland


Unemployment Risk and the Conditional Ex-Ante Equity Premium
Klaus E. Buhr,Unitec Institute of Technology
Nonthipoth Buranavityawut, Unitec Institute of Technology
Mark C. Freeman, Bradford University


Frontier Market Diversification and Transaction Costs
Ben Marshall, Massey University
Nhut H. Nguyen, University of Auckland
Nuttawat Visaltanachoti, Massey University

9:40am - 9:55am

To Top Morning Tea
Venue: Quad B Staff Lounge, Level 3

10:00am - 11:40am

Session 4A: Investments II
Venue: QB8, Quad B, level 3
Chair: Mei Qiu, Massey University


Issuer-heterogeneity and time-heterogeneity in the rating migration dynamics of financial institutions
Huong Dang, University of Canterbury


The Potential Effects of Mandatory Portfolio Holdings Disclosure in Australia and New Zealand
Kathleen Brown, Bancorp Treasury
Russell Gregory-Allen, Massey University


Institutional Trader Monitoring and Firm Performance
Brandon Chen, Victoria University of Wellington
Peter L. Swan, University of New South Wales


Time Variation in the Marginal Value of Firms’ Cash Holdings
Michael O’Connor Keefe, Victoria University of Wellington
Robert Kieschnick, The University of Texas at Dallas

10:00am -11:40am

Session 4B: Personal Finance II
Venue: QB7, Quad B, level 2
Chair: Chenwei Ho, Massey University


Mutual funds and the listed firms’ earnings management in China
Jingjing Yang, Massey University
Jing Chi, Massey University
Martin Young, Massey University


Capital Structure and Financing Choices: An Australian Study
Klaus E. Buhr, Unitec Institute of Technology
Roy Cross, Brook Asset Management
Liz Rainsbury, Unitec Institute of Technology


The valuation of pension benefits subject to personal taxes
Martin Lally, Victoria University


How Does Statutory Redemption Affect a Buyer’s Decision to Purchase at the Foreclosure Sale?
Jyh-Bang Jou, National Taiwan University
Tan (Charlene) Lee, The University of Auckland

11:45am - 12:30pm

Closing Presentation
Venue: QB7, Quad B, level 2
Professor Ron Masulis

12:30pm - 12:45pm

Colloquium Prize Giving
Venue: QB7, Quad B, level 2

12:45pm -

To Top Colloquium Lunch
Venue: Quad B Staff Lounge, Level 3