※Please note that the conference will NOT be postponed and will be 
    held as scheduled on July 14 and 15.



The Joint 14th Annual PBFEA

and 2006 Annual FeAT Conference*




held at

the Grand Hotel in Taipei, Taiwan

台北 圓山大飯店

on July 14 and July 15, 2006.


*The joint 14th annual Pacific Basin Finance, Economics, and Accounting
and 2006 annual Financial Engineering Association of Taiwan Conference  


Theme of the Conference: Credit, Market, and Operating Risks of Banking Insurance, and Security Industries


Keynote Speaker I: J. David Cummins

Title of speech : Convergence and Contagion in the U.S. Banking and Insurance Industries:

Evidence from Operational Risk Event

J. David Cummins is the Harry J. Loman Professor of Insurance and Risk Management at the Wharton School of the University of Pennsylvania. His fields of specialization include financial institutions, securitization, risk management, efficiency, and productivity.  Dr. Cummins has published more than eighty refereed journal articles. His recent books include International Insurance Markets: Between Global Dynamics and Local Contingencies (Springer), Changes in the Life Insurance Industry: Efficiency, Technology, and Risk Management (Kluwer Academic), and Deregulating Property-Liability Insurance: Restoring Competition and Increasing Market Efficiency (The Brookings Institution).  He is a co-editor of the Journal of Banking and Finance and Associate Editor of nine other journals. Dr. Cummins is a past-president of the American Risk and Insurance Association, and has served as editor of the Journal of Risk and Insurance


Keynote Speaker II: Stephen J. Brown

Title of speech : Hedge Fund Market Neutral Strategies: Distinguishing Financial and Operational Risk Factors

Stephen J. Brown is David S. Loeb Professor of Finance and Coordinator of Undergraduate Finance Studies at the Leonard N. Stern School of Business, New York University. He graduated from Monash University in Australia and studied at the University of Chicago, earning an MBA in 1974 and a Ph.D in 1976. Following successive appointments as a Member of Technical Staff at Bell Laboratories where he spent time on assignment as District Manager in the AT&T Pension Fund, and Associate Professor at Yale University, he joined the faculty of New York University in 1986. He has served as President of the Western Finance Association and Secretary/Treasurer of that organization, has served on the Board of Directors of the American Finance Association, was a founding editor of the Review of Financial Studies and is currently a member of the Board of the Society of Quantitative Analysis. He is a Managing Editor of the Journal of Financial and Quantitative Analysis and has served on the editorial boards of The Journal of Finance, Pacific-Basin Finance Journal and other journals. He has published numerous articles and five books on finance and economics related areas. He is retained as an advisor by asset management companies in the United States and Australia. He has served as an expert witness for the US Department of Justice.


History of the Conference 

Year           Venue/Country       Host Organizer                                                        

1993                    U.S.A.                        Rutgers University, New Jersey

1994                    Hong Kong                Hong Kong Chinese University, Hong Kong

1995                    Taipei, Taiwan         Taiwan Institute of Economic Research, Taipei

1996                    U.S.A.                        Rutgers University, New Jersey

1997                    Singapore                  Nanyang Technological University, Singapore

1998                    Hong Kong                Hong Kong Polytechnic University, Hong Kong

1999                   Taipei, Taiwan         National Taiwan University, Taipei

2000                    Thailand                    Chulalongkorn University, Bangkok

2001                    U.S.A.                        Rutgers University, New Jersey

2002                    Singapore                  Nanyang Technological University, Singapore

2003          Taipei, Taiwan         National Chiao Tung University, Hsinchu

2004          Thailand                    The Consortium of Thai Universities, Bangkok

2005          U.S.A.                        Rutgers University, New Jersey

        2006          Taipei, Taiwan          Foundation of Pacific Basin Financial Research and Development, Taipei


Paper Submission

The deadline for paper submission is April 1, 2006. Authors should send a Word or PDF file of their completed paper in English. Each submission should have the following on the cover page:

Title of the paper
Each author’s name
E-mail address
Fax number
Telephone number

On the second page of the paper should be an abstract. Only electronic submissions will be accepted to lee@rbsmail.rutgers.edu or cflee@mail.nctu.edu.tw. Authors will be notified of the review committee’s decision by April 15, 2006.

 Persons interested in participating as a chairperson or discussant should also formally express their interest.

 Publication Note

To be considered for publication, the author should formally submit his/her paper to Professor Cheng-few Lee, along with a submission fee of US$100 (check to be made payable to RQFA). Professor Lee will decide the paper will be published in RQFA, RPBFMP, or AQAFA in accordance with the reviewer’s comments. The submission fee should sent to the following address:


Professor Cheng-Few Lee

73 Hidden lake drive,

North Brunswick, New Jersey 08902


Conference Registration Fee

Please send conference registration fee US $100 pay to order of Foundation of Pacific Basin Financial Research and Development to following address: 

Professor Cheng-Few Lee
Institute of Finance
National Chiao-Tung University
1001 Ta Hsueh Rd.
Hsinchu, 300 Taiwan


Topics of interest include but are not limited to:

Impacts of Outsourcing on US Economy

Corporate Governance

Financial Engineering

Executive Compensation Schemes

Venture Capital

Market Microstructure

Financial Reform after Financial Crisis

Derivative Securities

Debt & Equity Markets

Managed Funds

Bank Risk Management

New Basel Capital Accord



Business Policies

Management Information Systems


Auditing & Taxation

Contract Design & Financial Intermediation

Actuarial Science and Insurance

Lessons Learned from 

Bank Failure Management

Financial Market & 

Economic Development

Real Estate Finance &

 Mortgaged-Backed Securities

Corporate Finance and Restructuring


Conference Organizers :

Rutgers University, U.S.A. ( 美國羅格斯大學 )

National Chiao Tung University, Taiwan ( 國立交通大學財務金融研究所 )

Foundation of Pacific Basin Financial Research and Development, Taiwan  

                 ( 財團法人亞太金融研究發展基金會 )

Financial Engineering Association of Taiwan, Taiwan ( 台灣財務工程學會 )

Council for Economic Planning and Development, Taiwan ( 行政院經濟建設委員會 )


Program Director:

Cheng-Few Lee, Rutgers University, U.S.A.

                              Editor of RQFA and RPBFMP


Program Coordinator:

William T. Lin, Tamkang University, Taiwan


Program Committee Members

 Chau-Chen Yang(楊朝成), National Taiwan University, Taiwan

 Chien-chung Nieh(聶建中), Tamkang University, Taiwan

 Dar-Yeh Huang(黃達業), National Taiwan University, Taiwan

David Ding , Nanyang Technological University , Singapore

 David Jou, National Taiwan University , Taiwan

Eric Chang , University of Hong Kong , Hong Kong

Frank Jen , SUNY at Buffalo , USA

Gillian Yeo , Nanyang Technological University , Singapore

 Hong-Chang Chang (張鴻章), Fubon Financial Holding Co., Ltd.
         and Former Dean of College of Management of National Taiwan University , Taiwan

Huimin Chung (鍾惠民),National Chiao Tung University, Taiwan

J. David Cummins, Wharton School of the University of Pennsylvania , USA

 Kuo-Ann Lyou (劉國安), Polaris Financial Group, Taiwan

 Mao-Wei Hung(洪茂蔚), National Taiwan University, Taiwan

Prasit Kanchanasakdichai , National Institute of Development and Administration, Thailand

 Sheng-Syan Chen(陳聖賢), National Taiwan University, Taiwan

Stephen J. Brown , New York University , USA

 Sue Fung Wang (王淑芬), National Chiao Tung University, Taiwan

Yasuo Hoshino , University of Tsukuba , Japan



Conference Co-Organizers :

Polaris Financial Group/寶來金融集團

Fubon Financial Holding Co., Ltd. /富邦金融控股股份有限公司

New York Life Insurance Taiwan Corporation/紐約人壽股份有限公司

Compal Electronics, Inc./仁寶電腦工業股份有限公司

The National Science Council (NSC) of the Executive Yuan /行政院國家科學委員會

Taiwan Stock Exchange Corporation/臺灣證券交易所

Taiwan Futures Exchange/臺灣期貨交易所

Da Yeh University/大葉大學

First Commercial Bank/第一商業銀行

Taiwan Securities Association (TSA)/中華民國證券商業同業公會

Fuhwa Cultural & Educational Foundation/復華金控-復華文教基金會



Maywufa Biopharmaceutical Enterprise Group/美吾華「醫藥」「生技」企業團

International Bills Financial Corporation/國際票券金融股份有限公司

Gretai Securities Market/財團法人中華民國證券櫃檯買賣中心

SCSB Cultural & Educational Foundation/財團法人上海商業儲蓄銀行文教基金會

Taipei Foreign Exchange Market Development Foundation/財團法人外匯市場發展基金會

Prudential Financial Securities Investment Trust Enterprise /保德信證券投資信託股份有限公司

Taiwan Insurance Institute/財團法人保險事業發展中心

HonTai Life Insurance Co., LTD/宏泰人壽保險股份有限公司

AAA Capital Management Co., Ltd./永裕顧問股份有限公司

The  Bankers Association of the Republic of China/中華民國銀行同業公會

Ministry of Education, R.O.C./教育部

SinoPac Securities Co., Ltd./建華證券股份有限公司

Taiwan Securities Co., Ltd./台証綜合證券股份有限公司

Chunghwa Post Co., Ltd./中華郵政股份有限公司

Capital Securities Corporation/群益證券股份有限公司

Protrend Management Consulting Co., Ltd./普羅管理顧問股份有限公司

Securities & Futures Institute/財團法人中華民國證券暨期貨市場發展基金會

Joint Credit Information Center /財團法人金融聯合徵信中心


Click here for 2006 Conference Photos

Click here for Program Schedule 議程表  

Program Schedule with detailed 詳細議程表

--- (網頁版 HTML File 資料參閱請按此 Click here for reading papers presented at the conference

--- (Word 版 Word File)

Click here for the Registration form for Presenter

Click here for the Hotel Information and Hotel Reservation Form

Click here for Registration Form for Student, Academic, and Non-Academic in Taiwan who would like to attend the conference 




1. Advances in Investment Analysis and Portfolio Management, New    

    Series 2005, Vol. 1, ISBN: 0-9651643-3-0 (Price: $75)
2. Advances in Financial Planning and Forecasting, New Series 2005, 

    Vol. 1, ISBN: 0-9651643-4-9 (Price: $75)

3. Advances in Investment Analysis and Portfolio Management, New 

    Series 2006, Forthcoming, Vol. 2, ISBN: 0-9651643-5-7 (Price: $75)


Click here for Order Form

Click Here for 2005 PBFEA Conference