4th Annual Boca-ECGI Corporate Finance and Governance Conference
4th Annual Boca-ECGI Corporate Finance and Governance Conference
Conference
Saturday, 9 December 2023 | 08:30 - 21:00 EST
Sunday, 10 December 2023 | 08:30 - 18:30 EST
Location
Florida Atlantic University, Collage of Business | 777 Glades Road, Boca Raton, FL 33431, United States
Organisers
Douglas Cumming (Florida Atlantic University and ECGI)
ABOUT THE EVENT
Florida Atlantic University, along with ECGI, organised its 4th Annual Boca-ECGI Corporate Finance and Governance Conference. The conference was hybrid, held at Florida Atlantic University in Boca Raton, Florida, and virtually on 9th and 10th December 2023.
The conference had three tracks (A), (B), and (C) over Saturday December 9, 2023 to Sunday December 10, 2023. The conference offered an interdisciplinary forum to gain feedback on timely working papers from scholars in finance, entrepreneurship, innovation, international business, law, management and accounting disciplines.
Keynote Speaker: Thorsten Beck, European University Institute, and Co-Editor of the Journal of Banking and Finance
Conference Location: College of Business, Florida Atlantic University (FAU), Boca Raton, Florida
Please email at this address for any queries cummingd@fau.edu or sjohan@fau.edu.
Awards:
Review of Corporate Finance Award Announcement: The $1000 Award for the best paper published in the Review of Corporate Finance (Volume 3 Issues 1-4, 2023) was announced at the conference.
Conference Awards: $1000. There was 2 best paper ($300 each) and 2 best discussant ($200 each) awards, consistent with the 3 prior Boca Conferences. Plaques were provided by the British Academy of Management Corporate Governance Special Interest Group.
More information: https://sites.google.com/view/review-of-corporate-finance/2023-boca-conference-call-for-papers?authuser=0
Programme
Saturday, December 9 2023 | 08:30 EST | Track A
Welcome Remarks
Speaker(s)
Dan Gropper
Track A | Session 1A | FinTech I
Moderator
Robert Reardon
Insufficient Sleep and Intra-Day Financial Decision-Making: Evidence from Online Lending
Speaker(s)
Paul G. Freed
Discussant
Shaen Corbet
Visual Information in the Age of AI: Evidence from Corporate Executive Presentations
Speaker(s)
Baozhong Yang
Discussant
Joe Grimes
The Entrepreneurial Finance of Fintech Firms and the Effect of Investments in Fintech Startups on the Performance of Corporate Investors
Speaker(s)
Harshit Rajaiya
Discussant
Yuan Li
Coffee break
Track A | Session 2A | FinTech II
Moderator
Zachary Glatzer
HACKED: Understanding the Stock Market Response to Cyberattacks
Speaker(s)
Shaen Corbet
Discussant
Alessia Pedrazzoli
M&A and Cybersecurity Risk: Empirical Evidence
Speaker(s)
Gabriele Lattanzio
Discussant
Weiyu Gao
A Growth and Innovation Model of the Modern Data Economy
Speaker(s)
Roxana Mihet
Discussant
Baozhong Yang
Lunch
Track A | Session 3A | Innovation
Moderator
Pedro Monteiro
ChatGPT and Corporate Policies
Speaker(s)
Jialin Qian
Discussant
Robert Reardon
Predictive Patentomics: Forecasting Innovation Success and Valuation with ChatGPT
Speaker(s)
Stephen Yang
Discussant
Zachary Glatzer
Human Capital Reallocation and Agglomeration of Innovation: Evidence from Technological Breakthroughs
Speaker(s)
Jing Xue
Discussant
Jialin Qian
Coffee break
Track A | Session 4A | Cryptos and NFTs
Moderator
Zachary Glatzer
The long-run performance of Initial Coin Offerings
Speaker(s)
Silvio Vismara
Discussant
Niklas Hüther
Cross-Sectional Return Predictors of Utility Tokens
Speaker(s)
Weiyu Gao
Discussant
Xuanyu Bai
Market Manipulation in NFT Markets
Speaker(s)
Sebeom Oh
Discussant
Stephen Yang
Coffee break
Track A | Session 5A | VC & PE I
Moderator
Prodyut Das
Strategic Regulatory Non-Disclosure: The Case of the Missing Form D
Speaker(s)
Qianqian Yu
Discussant
Weiyu Gao
Disclosure of Use of Proceeds, Real Effects and Underpricing in Private Equity-Backed Initial Public Offerings
Speaker(s)
Benjamin Hammer
Discussant
Cheng Jiang
Public Listing Choice with Persistent Hidden Information
Speaker(s)
Francesco Celentano
Discussant
Brandon Julio
SATURDAY, DECEMBER 9 2023 | 08:30 EST | TRACK B
Track B | Session 1B | Loans I
Does the Disclosure of Consumer Complaints Reduce Racial Disparities in the Mortgage Lending Market?
Speaker(s)
Xiang Li
Discussant
Rebel Cole
Social Capital and Mortgages
Speaker(s)
Raluca Roman
Discussant
David Javakhadze
Monitoring with Small Stakes
Speaker(s)
Sheila Jiang
Discussant
Alexander K. Zentefis
Coffee break
Track B | Session 2B | Loans II
Moderator
Anita Pennathur
Fraud Litigation and FHA Mortgage Lending
Speaker(s)
Billy Y. Xu
Discussant
Gosia Ryduchowska
Bank Technology Adoption and Loan Production in the U.S Mortgage Market
Speaker(s)
Sheila Jiang
Discussant
Raluca Roman
Bank Branch Access: Evidence from Geolocation Data
Speaker(s)
Alexander K. Zentefis
Discussant
Xiang Li
Lunch
Track B | Session 3B | Executive Compensation
Moderator
Esteban Hernandez
Debt Dynamics in Executive Compensation
Speaker(s)
Xingyu Huang
Discussant
Zeyu Ou
Disclosure of Pay Versus Performance
Speaker(s)
Austin Starkweather
Discussant
Shawn Mobbs
The downside of tournament incentives: Evidence from the trading behavior of non-promoted insiders
Speaker(s)
Xiaoke Ye
Discussant
Svetlana Kalinnikova
Coffee break
Track B | Session 4B | CEOs
Moderator
Shiva Shankar Narayana Raju Indukoori
CEOs’ Narcissism and Opportunistic Insider Trading
Speaker(s)
Cheng Jiang
Discussant
Seungho Choi
Early-life Experience of Social Violence and CEOs’ Risk-taking Attitudes
Speaker(s)
Cindy Xinyi Shen
Discussant
Luis Garcia-Feijoo
When the EPA is in play, risk-taking goes away: The effect of environmental regulations on CEO compensation
Speaker(s)
Seungho Choi
Discussant
Xingyu Huang
Coffee break
Track B | Session 5B | CSR, ESG
Moderator
Uliana Filatova
Do Consumers Care About ESG? Evidence from Barcode-Level Sales Data
Speaker(s)
Steven Chong Xiao
Discussant
Tengfei Zhang
Corporate Social Responsibility and Hedging Policies
Speaker(s)
Ahmet M. Tuncez
Discussant
Augustine Tarkom
What Does ESG Investing Mean and Does It Matter Yet?
Speaker(s)
Abed El Karim Farroukh
Discussant
Shiyi Zhang
SATURDAY, DECEMBER 9 2023 | 08:30 EST | TRACK C
Track C | Session 1C | Misconduct I
Moderator
Shiva Shankar Narayana Raju Indukoori
Corner-Cutters: Personally Tax Aggressive Executives and Corporate Regulatory Violations
Speaker(s)
Enshuai Yu
Discussant
Christo Pirinsky
Corruption and Cash Policy: Evidence from a Natural Experiment
Speaker(s)
Lubomir P. Litov
Discussant
Joy Wilkinson
Patrolling the Securities Laws: Towards the SEC’s Investigation of Founder-CEO Firms
Speaker(s)
Yang Bai
Discussant
Benjamin Hammer
Coffee break
Track C | Session 2C | Misconduct II
Moderator
Yuan Li
Once Bitten, Twice Shy: Evidence from Venture Capital and Scam Startups
Speaker(s)
Yanying Lyu
Discussant
Peter Wirtz
Keeping up with the Forbeses: Does Peer Recognition Promote Opportunistic Trading?
Speaker(s)
Christo Pirinsky
Discussant
Yang Bai
The Impact of Mandatory Close Periods on Corporate Insider Trading
Speaker(s)
Francois Brochet
Discussant
Andréanne Tremblay
Lunch
Track C | Session 3C | Regulation
Moderator
Anastassia Vilderson
Follow the Pipeline: Anticipatory Effects of Proposed Regulations
Speaker(s)
Suzanne Chang
Discussant
Abed El Karim Farroukh
When There’s A Cap on SEC Pay, Firms Will Play With Their ROA
Speaker(s)
Andréanne Tremblay
Discussant
David De Angelis
Endogenous Policy Uncertainty
Speaker(s)
Brandon Julio
Discussant
Coffee break
Track C | Session 4C | Regulation
Moderator
Svetlana Kalinnikova
Asymmetric Cost Behavior and Non-Financial Firms' Risky Financial Investments
Speaker(s)
Ji Hoon Hwang
Discussant
Francesco Celentano
Financing Intangibles
Speaker(s)
Bianca He
Discussant
Guillaume Andrieu
Preparing for the Storm: Firm Policies and Time-varying Recession Risk
Speaker(s)
Tarik Umar
Discussant
Qianqian Yu
Coffee break
Institutional Blockholder Networks and Corporate Acquisition Performance
Speaker(s)
Marwin Mönkemeyer
Discussant
Prodyut Das
The Rise of Anti-Activist Poison Pills
Speaker(s)
Tanja Kirmse
Discussant
Fred Bereskin
Identifying the Real Effects of the M&A Market on Target Firms
Speaker(s)
David De Angelis
Discussant
Giorgio Sertsios
SUNDAY, DECEMBER 10 2023 | 08:30 EST | TRACK A
Track A | Session 6A | Mixing Forms of Entrepreneurial Finance
Moderator
Proydut Das
Crowdfunding vs. Venture Capital: Complements or Substitutes? A Theoretical Assessment
Speaker(s)
Andrieu Guillaume
Discussant
Raffaele Corvino
Business angels, crowdinvesting and the start-up financing funding gap
Speaker(s)
Vincenzo Capizzi
Discussant
Shiva Shankar Narayana Raju Indukoori
Divide and Conquer: Investor Type Diversity in Entrepreneurial Ventures
Speaker(s)
Jeroen Verbouw
Discussant
Sofia Johan
Coffee break
Track A | Session 7A | VC & PE II
Moderator
Robert Reardon
Private Equity and Gas Emissions: Evidence from Electric Power Plants
Speaker(s)
Xuanyu Bai
Discussant
Thomas J. Boulton
Gunned Down By Private Equity?
Speaker(s)
Niklas Hüther
Discussant
Vincenzo Capizzi
Fundraising and governance of sustainability-oriented ventures: Evidence from equity crowdfunding
Speaker(s)
Peter Wirtz
Discussant
Roxana Mihet
Lunch
Keynote:
Speaker(s)
Thorsten Beck
Coffee break
Track A | Session 8A | Ownership and Control
Moderator
Anna Agapova
Control Motivations and Firm Growth
Speaker(s)
Raffaele Corvino
Discussant
Robert Reardon
Control Without Ownership: Governance of Nonprofit Hospitals
Speaker(s)
Giorgio Sertsios
Discussant
Yufeng Mao
How Effective are Non-Banks During a Crisis
Speaker(s)
Mahyar Sefidgaran
Discussant
Anna Agapova
Coffee break
Track A | Session 9A | Culture, Openness, Ideology
Moderator
David Javakhadze
Fiduciary Duty of Loyalty and Corporate Culture
Speaker(s)
Cheng Jiang
Discussant
Esteban Hernandez
The Value of Openness
Speaker(s)
Mitch Warachka
Discussant
Xiaoke Ye
Individual Investor Ideology
Speaker(s)
Jonathon Zytnick
Discussant
Michael Hudson-Vassell
Awards Announcements and Meet the Editors
SUNDAY, DECEMBER 10 2023 | 08:30 EST | TRACK B
Track B | Session 6B | Environmental
Moderator
Joy Wilkinson
Voice Through Divestment
Speaker(s)
Discussant
Iris Wang
Defunding Controversial Industries: Can Targeted Credit Rationing Choke Firms?
Speaker(s)
Kunal Sachdeva
Discussant
Mitch Warachka
The Impact of Corporate Environmental Misconduct on Bond Issues and Seasoned Equity Offerings
Discussant
Jonathon Zytnick
Coffee break
Track B | Session 7B | Green Bonds
Moderator
Esteban Hernandez
Investors in Green Bonds
Speaker(s)
Gosia Ryduchowska
Discussant
Sheila Jiang
The Emerging Greenium
Speaker(s)
Boyuan Li
Discussant
Raluca Roman
Decoding Corporate Green Bonds: What They Do with the Money and the Real Impact
Speaker(s)
Yufeng Mao
Discussant
Sebeom Oh
Lunch
Keynote:
Speaker(s)
Thorsten Beck
Coffee break
Track B | Session 8B | Gender and Diversity
Moderator
Uliana Filalotev
Female Equity Analysts and Corporate Environmental and Social Performance
Speaker(s)
Tengfei Zhang
Discussant
Bianca He
Corporate board gender diversity and asset liquidity
Speaker(s)
Augustine Tarkom
Discussant
Gabriele Lattanzio
What is the Value of Workforce Diversity?
Speaker(s)
Shiyi Zhang
Discussant
Lubomir P. Litov
Coffee break
Track B | Session 9B | Diversity, ESG
Moderator
Anastassia Vilderson
Diversity and Inclusion Without Equity? Evidence from Executive Compensation
Speaker(s)
Lubomir P. Litov
Discussant
Biwesh Neupane
Mandatory ESG Disclosure, Information Asymmetry, and Litigation Risk: Evidence from Initial Public Offerings
Speaker(s)
Thomas J. Boulton
Discussant
Lukai Yang
Board Gender Diversity and Financial Default Risk: An Empirical Analysis
Speaker(s)
Asad Ali Rind
Discussant
Anastasia Vilderson
Awards Announcements and Meet the Editors
SUNDAY, DECEMBER 10 2023 | 08:30 EST | TRACK C
Track C | Session 6C | M&As II
Moderator
Anna Pomeranets
Self-Serving Fiduciaries? Board Discretion in Publicly Resisting Takeover Bids
Speaker(s)
Sridhar Gogineni
Discussant
Tanja Kirmse
Assortative Matching in Mergers: Evidence from Skill Demand
Speaker(s)
Fred Bereskin
Discussant
Marwin Mönkemeyer
Corporate Social Responsibility and Post-merger Labour Restructuring
Speaker(s)
Jiajun Tao
Discussant
Uliana Filalotev
Coffee break
Track C | Session 7C | Directors
Moderator
Joseph Grimes
Why do Investors Vote Against Corporate Directors?
Speaker(s)
Umit Yilmaz
Discussant
Asad Ali Rind
Searching For Directors
Speaker(s)
Zeyu Ou
Discussant
Yeo Sang (Johnny) Yoon
Social Media Use and the Director Labor Market: Evidence from Twitter
Speaker(s)
Shawn Mobbs
Discussant
Jeffrey L. Callen
Lunch
Keynote:
Speaker(s)
Thorsten Beck
Coffee break
Track C | Session 8C | Fund Management and Investment Consequences
Moderator
Joy Wilkinson
Government Contracts and Labor Investment Efficiency
Speaker(s)
Pedro Monteiro
Discussant
Jeroen Verbouw
Mutual Fund Disagreement and Firm Value: Passive vs. Active Voice
Speaker(s)
Iris Wang
Discussant
Pedro Monteiro
The toxic triangle of state, stake, and institution: Sovereign wealth fund ownership and firm ESG reputation risk
Speaker(s)
Biwesh Neupane
Discussant
Sofia Johan
Coffee break
Track C | Session 9C | Voting, Coasean
Moderator
Sofia Johan
Every Vote Counts: Mandatory Disclosure and Voting Outcomes
Speaker(s)
Yeo Sang (Johnny) Yoon
Discussant
Baozhong Yang
Shareholder Voice and Executive Compensation
Speaker(s)
John W. Barry
Discussant
Austin Starkweather
Some Fallacies in Corporate Finance: A Coasean Perspective
Speaker(s)
Jeffrey L. Callen
Discussant
Tarik Umar
Awards Announcements and Meet the Editors
Speakers
Anete Pajuste
Professor of Finance, Head of Accounting and Finance Department
Stockholm School of Economics (Riga)
Research Member
Presentations
-
Corporate Social Responsibility and Hedging Policies
Ahmet M. Tuncez -
Identifying the Real Effects of the M&A Market on Target Firms
David De Angelis -
What Does ESG Investing Mean and Does It Matter Yet?
Abed El Karim Farroukh -
Investors in Green Bonds
Gosia Ryduchowska -
Keynote:
Thorsten Beck -
Public Listing Choice with Persistent Hidden Information
Francesco Celentano -
The Emerging Greenium
Boyuan Li -
Government Contracts and Labor Investment Efficiency
Pedro Monteiro -
Corruption and Cash Policy: Evidence from a Natural Experiment
Lubomir P. Litov -
Social Capital and Mortgages
Raluca Roman -
Keynote:
Thorsten Beck -
Monitoring with Small Stakes
Sheila Jiang -
Gunned Down By Private Equity?
Niklas Hüther -
Every Vote Counts: Mandatory Disclosure and Voting Outcomes
Yeo Sang (Johnny) Yoon -
Fraud Litigation and FHA Mortgage Lending
Billy Y. Xu -
Corporate board gender diversity and asset liquidity
Augustine Tarkom -
Shareholder Voice and Executive Compensation
John W. Barry -
The Impact of Mandatory Close Periods on Corporate Insider Trading
Francois Brochet -
Keynote:
Thorsten Beck -
What is the Value of Workforce Diversity?
Shiyi Zhang -
Some Fallacies in Corporate Finance: A Coasean Perspective
Jeffrey L. Callen -
M&A and Cybersecurity Risk: Empirical Evidence
Gabriele Lattanzio -
Bank Branch Access: Evidence from Geolocation Data
Alexander K. Zentefis -
Control Motivations and Firm Growth
Raffaele Corvino -
Debt Dynamics in Executive Compensation
Xingyu Huang -
When There’s A Cap on SEC Pay, Firms Will Play With Their ROA
Andréanne Tremblay -
Control Without Ownership: Governance of Nonprofit Hospitals
Giorgio Sertsios -
ChatGPT and Corporate Policies
Jialin Qian -
Disclosure of Pay Versus Performance
Austin Starkweather -
Endogenous Policy Uncertainty
Brandon Julio -
How Effective are Non-Banks During a Crisis
Mahyar Sefidgaran -
Fiduciary Duty of Loyalty and Corporate Culture
Cheng Jiang -
Financing Intangibles
Bianca He -
The Value of Openness
Mitch Warachka -
The long-run performance of Initial Coin Offerings
Silvio Vismara -
Individual Investor Ideology
Jonathon Zytnick -
Institutional Blockholder Networks and Corporate Acquisition Performance
Marwin Mönkemeyer -
Market Manipulation in NFT Markets
Sebeom Oh -
Do Consumers Care About ESG? Evidence from Barcode-Level Sales Data
Steven Chong Xiao -
The Rise of Anti-Activist Poison Pills
Tanja Kirmse -
Searching For Directors
Zeyu Ou
Contact
Douglas Cumming
Florida Atlantic University