2020 SAIF-CAFR Financial Research Summer Camp
July 11 -12, 2020
（Virtual Lectures）
Shanghai Advanced Institute of Finance (SAIF) and China Academy of Financial Research (CAFR) at Shanghai Jiao Tong University are pleased to announce the Third SAIF-CAFR Financial Research Summer Camp, to be held on-line on July 11-12, 2020 (Beijing time, GMT+8).
Designed for emerging scholars in China and beyond, the SAIF-CAFR Financial Research Summer Camp introduces the participants to the frontiers of academic research in finance and provides them with cutting-edge research methodologies and fresh perspectives, with the objective of inspiring their future academic careers and enhancing the overall quality of research and teaching in finance in China. This year’s Summer Camp consists of lectures given by three renowned finance scholars. They are (listed in alphabetical order):
Zhi Da
Professor of Finance and Notre Dame Chair in Finance at Mendoza College of Business, University of Notre Dame; Associate Editor, Review of Financial Studies
Prof. Da’s research focuses on empirical asset pricing and investment. He has published extensively in top finance journals. In recent papers, he studies the returns on financial assets surrounding liquidity events, cash flow risks of financial assets, equity analyst forecasts, and the mutual fund performance.
Bing Han
Professor of Finance and the TMX Chair in Capital Markets at Rotman School of Management, University of Toronto; Editor, Financial Management
Prof. Han’s research focuses on Behavioral Finance, Investments, and Asset Pricing. He has published in top finance and economics journals as well as practitioner oriented journals. His research has been presented at many international and national conferences, and featured in mainstream media.
https://www.rotman.utoronto.ca/FacultyAndResearch/Faculty/FacultyBios/HanB.aspx
Dragon Yongjun Tang
Professor of Finance and Area Head in Finance, Faculty of Business and Economics, University of Hong Kong; Managing Editor, International Review of Finance
Prof. Dragon Yongjun Tang’s current research interests include credit risk, credit derivatives, and Chinese banking and credit markets. He has previously done research on mutual funds and Bayesian methods in finance. His research articles are published in top finance journals.
https://www.fbe.hku.hk/people/academic/dragon-yongjun-tang
The SAIF-CAFR Summer Camp lectures are provided free of charge, although it is necessary to register in advance. If you are interested in participating in the Camp, please email us your CV at summercamp@saif.sjtu.edu.cn by 30 June, 2020. We will inform you whether you have successfully registered in due time.
We look forward to e-meeting you and celebrating a wonderful 2020 SAIF-CAFR Financial Research Summer Camp virtually.
Program
July 11 -12, 2020
Beijing Time (GMT+8)
Time:July 11 -12, 2020
Venue: Virtual (Zoom)
July 11, 2020
9:00AM - 9:05AM
9:05AM - 12:00PM
Investor Attention in Financial Markets
Professor Zhi Da University of Notre Dame
Market participants need to pay attention so their actions lead to efficient outcomes, and as a result, asset prices react efficiently to information. In reality, attention is a scarce cognitive resource. Therefore, limited attention can have major impact in the financial markets. This lecture gives a brief introduction to the emerging literature on investor attention. Specifically, we will go over theoretical models of limited attention, discuss empirical measures of investor attention, and review empirical evidence of how attention affects both asset pricing and corporate finance outcomes.
Click here to download recommended pre-reading materials for the lecture.
2:00PM - 5:00PM
The Real Effects of Credit Derivatives
Professor Dragon Yongjun Tang University of Hong Kong
Credit derivatives, most represented by credit default swaps (CDS), are contingent claims based on credit risk of the reference firms. They can viewed as redundant securities in a perfect market and their value can be derived from firm fundamentals especially default risk. However, recent studies show that presence of CDS trading can have feedback effects to firm financing and operating. Consequently, CDS are not redundant securities as the presence of CDS trading itself changes the default probability. This talk will provide an overview of the literature on how CDS trading affects corporate leverage, default probability, and so on. The big picture of this burgeoning literature as well as promising future research topics will also be discussed.
Click here to download recommended pre-reading materials for the lecture.
July 12, 2020
9:00AM - 12:00PM
Network and Social Economics
Professor Bing Han University of Toronto
This lecture introduces some ideas and recent progresses in the area of network analysis and social economics, with an emphasis on the roles played by social interactions for information diffusion, economic behavior and financial market outcomes. We will survey some empirical evidence of peer effect, word of mouth effect in various settings. We will also discuss some theoretic models and potential directions for future research.
Click here to download recommended pre-reading materials for the lecture.