The 15th Annual Conference on PBFEAM*  

will be held at  

the Equatorial Hotel in Ho Chi Minh City, Vietnam

on July 20 and July 21, 2007.


Theme of the Conference:

The main purpose of this conference will emphasize issues of WTO and Open Markets. Impacts of WTO and Open Markets on the financial and banking services in Asian and other pacific basin regions and countries will be discussed. Corporate Social Responsibility, Corporate Governance, Privatization and Risk Management will also be covered.

*The 15th annual Conference on Pacific Basin Finance, Economics, Accounting and Management


Keynote Speaker : Hendrik Bessembinder

9:00-9:40 AM on July 21, 2007  

Topic of Speech: Designated Market Makers, Affirmative 

                 Obligations, and Market Quality


Professor Hendrik (Hank) Bessembinder holds the A. Blaine Huntsman Presidential Chair in Finance at the David Eccles Business School of the University of Utah .  He completed his Ph.D. in Finance at the University of Washington in 1986, and previously held faculty positions at the Goizueta Business School of Emory University, the Simon School of Business of the University of Rochester and at the Arizona State University College of Business.  


Hank’s research and teaching interests include Financial Management, International Finance , Stock Markets, Foreign Exchange Markets, Energy Markets, Trading Costs, Trading Strategies, and Financial Risk Management.  His research has been published in the top Finance outlets, including the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies.  He is Managing Editor of the Journal of Financial and Quantitative Analysis, and Associate Editor of the Journal of Finance, the Journal of Financial Economics, and the Journal of Financial Markets.  


Hank has taught university courses in corporate finance, investments, financial markets, and financial engineering, at the masters and doctoral levels, having been nominated for and received teaching awards.  He has been a consultant to the New York Stock Exchange, Goldman Sachs, Barclay’s Global Investors, the United States Department of Justice, the United States Securities and Exchange Commission, the Federal Energy Regulatory Commission, the Commodities Futures Trading Commission, Analysis Group, and Cornerstone Research, among others.





Keynote Speaker : Rolf. Dubs

on July 21, 2007

Topic of Speech:  Corporate Governance: The Strategic 

                                      Responsibility of the Board. Results of an 

                     Empirical Study in Switzerland  


Rolf Dubs, born 1935, was Professor of Management Education and President of the University of St. Gallen (Switzerland). He holds a Doctoral Degree in Business Administration and he is Doctor honoris causa of the Universities of Economics of Vienna and Budapest and the Technical University of Dresden. He is chairman and member of many boards in Switzerland, Germany and Vietnam. He worked at Harvard and Stanford University, at the University of Texas at Austin and at Michigan State University.  He was a member of parliment and Brigadier General of the Swiss Army.



Keynote Speaker : Cheng-Few Lee

on July 20, 2007

Topic of Speech: Determinants of Capital Structure Choice: A Structural Equation Modeling Approach

Cheng-Few Lee is a Distinguished Professor of Finance at Rutgers Business School, Rutgers University and was chairperson of the Department of Finance from 1988–1995. He has also served on the faculty of the University of Illinois (IBE Professor of Finance) and the University of Georgia . He has maintained academic and consulting ties in Taiwan, Hong Kong, China and the United States for the past three decades. He has been a consultant to many prominent groups including, the American Insurance Group, the World Bank, the United Nations, The Marmon Group Inc., Wintek Corporation and Polaris Financial Group, etc.  

Professor Lee founded the Review of Quantitative Finance and Accounting (RQFA) in 1990 and the Review of Pacific Basin Financial Markets and Policies (RPBFMP) in 1998, and serves as managing editor for both journals. He was also a co-editor of the Financial Review (1985–1991) and the Quarterly Review of Economics and Business (1987–1989). In the past thirty-two years, Dr. Lee has written numerous textbooks ranging in subject matter from financial management to corporate finance, security analysis and portfolio management to financial analysis, planning and forecasting, and business statistics. In addition, he has added a popular book entitled “Encyclopedia of Finance” (with Alice C. Lee) in 2006. Dr. Lee has also published more than 170 articles in more than twenty different journals in finance, accounting, economics, statistics, and management. Professor Lee has been ranked the most published finance professor worldwide during 1953–2002.  


Paper Submission
The deadline for paper submission is March 1, 2007 . 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

o        Name

o        Affiliation

o        E-mail address

o        Fax number

o        Telephone number

On the second page of the paper should be an abstract. Only electronic submissions will be accepted to , and . Authors will be notified of the review committee’s decision by April 15, 2007 .

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

Conference Registration Fee
Please download the registration form below. Fill in and send your registration form to the following address first, and then pay US $150 registration fee in cash at the conference


Prof. Cao Hao Thi

Dean of School of Industrial Management

Ho Chi Minh City University of Technology

268 LY THUONG KIET Street, District 10

Ho Chi Minh City, Vietnam




For those who have to pay by check, please make the check payable to Foundation of Pacific Basin Financial Research and Development ( or FPBF Research and Development) and send the check to following address by June 15. 


Professor Cheng-Few Lee

Foundation of Pacific Basin Financial Research and Development

5F., No. 26, Sec. 3, Jen-Ai Rd.

Taipei, Taiwan


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


Topics of interest include but are not limited to:

Issues of WTO

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


health care

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


History of the Conference:



Host Organizer



Rutgers University, New Jersey


Hong Kong

Hong Kong Chinese University, Hong Kong



Taiwan Institute of Economic Research, Taipei, Taiwan



Rutgers University, New Jersey



Nanyang Technological University, Singapore


Hong Kong

Hong Kong Polytechnic University, Hong Kong



National Taiwan University, Taipei, Taiwan



Chulalongkorn University, Bangkok



Rutgers University, New Jersey



Nanyang Technological University, Singapore



National Chiao Tung University, Hsinchu, Taiwan



The Consortium of Thai Universities, Bangkok



Rutgers University, New Jersey



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


Ho Chi Minh City, Vietnam

Ho Chi Minh City University of Technology, Vietnam



Conference Organizers :

Rutgers University, U.S.A.

Ho Chi Minh City University of Technology, Vietnam

Foundation of Pacific Basin Financial Research and Development, Taiwan


Program Director:

Cheng-Few Lee, Rutgers University, U.S.A. and National Chiao Tung University, Taiwan

                       Editor of RQFA and RPBFMP


Program Coordinator:

Cao Hao Thi, Dean of School of Industrial Management, 
                       Ho Chi Minh City University of Technology, Vietnam


Program Committee Members:

Hendrik (Hank) Bessembinder, University of Utah, USA

Stephen J. Brown, New York University, USA

Hong-Chang Chang, Fubon Financial Holding Co., Ltd., Taiwan

Carl Chen, University of Dayton, USA

Mei-Ling Chen, Da-Yeh University, Taiwan

Huimin Chung, National Chiao Tung University, Taiwan

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

Rolf Dubs, Switzerland Development Cooperation (SDC) Consultant, 
                  and Former Rector of the University of St.Gallen, Switzerland

Yasuo Hoshino, Aichi University and University of Tsukuba, Japan

Frank Jen, SUNY at Buffalo, USA

Prasit Kanchanasakdichai, National Institute of Development and Administration, Thailand

An-Peng Kao, Kainan University, Taiwan

Alice C. Lee , San Francisco State University , USA

Tran Du Lich, President of Institute for Economic Research-Ho Chi Minh City, Vietnam

William T. Lin, Tamkang University, Taiwan

Hsin-Ling Liu, PricewaterhouseCooper’s, Taiwan

Kuo-Ann Lyou, Polaris Financial Group, Taiwan

Chien-chung Nieh, Tamkang University, Taiwan

Chieh-Yu Pai, Polaris Financial Group, Taiwan

I. M. Pandey, Dean of School of Management, Asian Institute of Technology, Thailand

Pham Phu, Member of National Education Council of Vietnam, 
                  and Founder of School of Industrial Management at Ho Chi Minh City University of Technology, Vietnam

Khee Giap Tan, Nanyang Business School, Singapore

Lee J. Yao, Loyola University New Orleans, USA

Gillian Yeo, Nanyang Technological University, Singapore



Polaris Financial Group, Taiwan

Wintek Corporation, Taiwan  

Compal Electronics, Inc., Taiwan

Fubon Financial, Taiwan

Swiss-AIT-Vietnam Program (SAV Program, Swiss- Asian Institute of Technology-Vietnam), Vietnam

Vietnam National University Ho Chi Minh City, Vietnam

National Kaohsiung University of Applied Sciences, Taiwan

Financial Engineering Association of Taiwan, Taiwan

Kainan University, Taiwan

Mega Financial Holding Company, Taiwan

The Ministry of Foreign Affairs of the Republic of China (Taiwan)








Click here for Conference Program  


Click here to Download the Presented Papers


Click here to Download Collected Papers of the 15th PBFEAM


Click here for Registration Form


Click here for Hotel Information  Please note that the hotel room should be reserved by June 28, 2007.




1. Participants who require a letter for applying visa, please contact Dean Thi at the email 
    address and


2. For presentation, both PowerPoint file or transparency slides are workable.


Click here for Announcement for the 16th Annual Conference on PBFEAM


Click here for Description of Handbook of Quantitative Finance



Click here for 2006 PBFEA Conference

Click here for 2005 PBFEA Conference


Center for Pacific Basin Business, Economics, and Finance Research

Foundation of Pacific Basin Financial Research and Development, Taiwan (財團法人亞太金融研究發展基金會)