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

 

 

Friday, July 20, 2007  

8: 30 a .m. – 9: 00 a .m.      Registration  

9: 00 a .m. – 9: 10 a .m.      Welcome Remarks

Speaker 1: Cao Hao Thi , Dean of School of Industrial Management, Ho Chi Minh City University of Technology , Vietnam

Speaker 2: Cheng Few Lee , Distinguished Professor of Finance and Economics, Rutgers University , USA and
                          
Distinguished Professor, National Chiao Tung University, Taiwan
                             
(Grand Ballroom)

9: 10 a .m. – 9: 40 a .m.       Opening Remarks

Speaker: Phan Thanh Binh , President of Vietnam National University - Ho Chi Minh City , Vietnam

Chairperson: Cao Hao Thi , Ho Chi Minh City University of Technology, Vietnam            (Grand Ballroom)

9: 40 a .m. – 10: 20 a .m.     Keynote Speech I

Speaker: Cheng Few Lee , Rutgers University , USA and National Chiao Tung University, Taiwan

Title: Determinants of Capital Structure Choice: A Structural Equation Modeling Approach

Chairperson: Cao Hao Thi , Ho Chi Minh City University of Technology , Vietnam         (Grand Ballroom)

 

 

10: 20 a .m. – 11: 00 a .m.   Coffee Break                                                     (Hotel Lounge)  

11: 00 a .m. – 12:30 p.m.   Concurrent Sessions:

Panel Session A. Economic Cooperation and Development among China , Taiwan , and Vietnam and it’s Implication Toward ASEAN-A Veteran Journalist’s Ruminations                                         (Ballroom 1)

Panel Session B. Management Education: Are We Meeting the Challenge?      (Ballroom 2)

Academic Session I. Risk Management (A)                                                     (Ballroom 3)

Academic Session II. Asian Stock Market (A)                                                      (Ballroom 4)

Academic Session III. Inside Trading and Corporate Governance               (Function room 1)

Academic Session IV. Accounting (A)                                                             (Function room 2)

Academic Session V. Corporate Finance (A)                                                           (Function room 3)

 

12:30 p.m. – 14:15 p.m.   Lunch & Luncheon Speech:

Speaker: Vu Thanh Tu Anh, Research Director of Fulbright Economic Teaching Program in Vietnam , Vietnam

Title: An Overview of Vietnam 's Economy: Opportunities and Challenge

ChairpersonLe Nguyen Hau, Vice Dean of School of Industrial Management, Ho Chi Minh City University of Technology , Vietnam          (Hotel Restaurant)

 

14:15 p.m. – 15:45 p.m.   Concurrent Sessions:

Panel Session C. Asian Economic Development and Performance of Pacific Basin Countries             (Ballroom 1)

Panel Session D. How to Establish a B-to-B Brand With Oligopoly Strategy and a  B-to-C Brand With Limited Resources                                   (Ballroom 2)

Academic Session VI. Options and Futures (A)                                           (Ballroom 3)

Academic Session VII. Risk Management (B)                                               (Ballroom 4)

Academic Session VIII. Corporate Finance (B)                                         (Function room 1)

Academic Session IX. Corporate Finance (C)                                         (Function room 2)

Academic Session X. Mutual Funds                                                          (Function room 3)

 

15:45p.m. – 16:00 p.m.    Coffee Break                                (Hotel Lounge)

 

16:00 p.m. – 17:30 p.m.   Concurrent Sessions:

Panel Session E. Asian Financial Reform and Economic Development        (Ballroom 1)

Panel Session F. Asian Financial Market and Credit Risk Management       (Ballroom 2)

Academic Session XI. Corporate Finance (D)                             (Ballroom 3)

Academic Session XII. Banking Management and Performance             (Ballroom 4)

Academic Session XIII. Foreign Exchange and International Investment  (Function room 1)

Academic Session XIV. Market Efficiency: Theory and Evidence        (Function room 2)

Academic Session XV. Insurance and Health Economics                                  (Function room 3)

 

19:00 p.m. – 21:00 p.m.         Dinner (Sponsored by Polaris Financial Group)

Welcome remarks  ( 19:00 ~ 19: 05 )

Speaker: Prof. Cheng F. Lee

Opening remarks  ( 19:05 ~ 19:30 )

1.           Sponsor: C Y Huang , Polaris Financial Group, Taiwan

2.           Vietnams ’ official representative

3.           Taiwan ’s official representative

4.           Taiwan Businessmen’s representative

Dinner Speech  ( 19:30 ~ 20:00 )

Speaker: Vuong Duc Hoang Quan, Investment Department, Ho Chi Minh City Investment Fund for Urban Development (HIFU), Vietnam

Title: Financing Urban Infrastructure Development: HIFU’s Practical Experience

Chairperson Cao Hao Thi , Ho Chi Minh City University of Technology , Vietnam

(Grand Ballroom)


Saturday, July 21, 2007  

8: 30 a .m. – 9: 00 a .m.      Registration  

9: 00 a .m. – 9: 40 a .m.       Keynote Speech II

Speaker: Hendrik Bessembinder, University of Utah , USA

Title: Designated Market Makers, Affirmative Obligations, and Market Quality

Chairperson: Cheng Few Lee , Rutgers University , USA                                      (Grand Ballroom)  

9: 40 a .m. – 10: 20 a .m.     Keynote Speech III

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

Title: Corporate Governance: The Strategic Responsibility of the Board. Results of an Empirical Study in Switzerland

Chairperson: Pham Phu, Member of National Education Council of Vietnam, and Founder of School of Industrial Management, HoChiMinh University of Technology-Vietnam National University, Vietnam                                   (Grand Ballroom)  

10: 20 a .m. – 11: 00 a .m.   Coffee Break                                                     (Hotel Lounge)  

11: 00 a .m. – 12:30 p.m.   Concurrent Sessions:

Panel Session G. Overview of Vietnam Stock Exchange                     (Ballroom 1)

Academic Session XVI. Accounting (B)                                  (Ballroom 2)

Academic Session XVII. Applied Economics (A)                          (Ballroom 3)

Academic Session XVIII. Corporate Governance and Dividend Policy   (Function room 1)

Academic Session XIX. Financial Econometrics                      (Function room 2)

Academic Session XX. Management                                (Function room 3)  

12:30 p.m. – 14:15 p.m.   Luncheon Speech

SpeakerDu Phuoc Tan, Head of External Cooperation Department of Institute for Economic Research - Ho Chi Minh City , Vietnam

Title Ho Chi Minh City Economic Overview and Potential for Development

ChairpersonLe Nguyen Hau, Vice Dean of School of Industrial Management, Ho Chi Minh City University of Technology , Vietnam           (Hotel Restaurant)

14:15 p.m. – 15:45 p.m.   Concurrent Sessions:

Panel Session H. How to Publish Papers in High Quality Journals           (Ballroom 1)

Academic Session XXI. Asian Bond and Stock Market                     (Ballroom 2)

Academic Session XXII. Microstructure                                 (Ballroom 3)

Academic Session XXIII. Applied Economics (B)                     (Function room 1)

Academic Session XXIV. Asian Stock Market (B)                     (Function room 2)

Academic Session XXV. Options and Futures (B)                     (Function room 3)  

15:45 p.m. – 16:00 p.m.   Coffee Break                                (Hotel Lounge)  

16:00 p.m. – 17:30 p.m.   Concurrent Sessions:

Panel Session I. Active & Passive Management of Taiwan's Funds Market     (Ballroom 1)

Academic Session XXVI. Behavior Finance                              (Ballroom 2)

Academic Session XXVII. Macro Policy                                                          (Ballroom 3)

Academic Session XXVIII. Banking and Mutual Funds Management    (Function room 1)

Academic Session XXIX. Risk Management (C)                      (Function room 2)

Academic Session XXX. Accounting (C)                             (Function room 3)

 


Friday, July 20, 2007

 

July 20 8: 30 a .m. – 9: 00 a .m.    Registration

 

July 20 9: 00 a .m. – 9: 10 a .m.    Welcome Remarks

Speaker 1: Cao Hao Thi , Dean of School of Industrial Management, Ho Chi Minh City University of Technology , Vietnam

Speaker 2: Cheng Few Lee , Distinguished Professor of Finance and Economics, Rutgers University , USA   and
                              Distinguished Professor, National Chiao Tung University, Taiwan  

 

July 20 9: 10 a .m. – 9: 40 a .m.     Opening Remarks

Speaker: Phan Thanh Binh , President of Vietnam National UniversityHo Chi Minh City, Vietnam

Chairperson: Cao Hao Thi , Ho Chi Minh City University of Technology , Vietnam

July 20 9: 40 a .m. – 10: 20 a .m.   Keynote Speech I

Speaker: Cheng Few Lee , Rutgers University , USA, and National Chiao Tung University, Taiwan

Title: Determinants of Capital Structure Choice: A Structural Equation Modeling Approach

Chairperson: Cao Hao Thi , Ho Chi Minh City University of Technology , Vietnam

   

July 20 10: 20 a .m. – 11: 00 a .m. Coffee Break

 

July 20 11: 00 a .m. – 12:30 p.m. Concurrent Sessions:

July 20   11: 00 a .m. – 12:30 p.m.

Panel Session A. Economic Cooperation and Development among China , Taiwan , and Vietnam and it’s Implication Toward ASEAN-A Veteran Journalist’s Ruminations

Chairperson: Chien-Chung Nieh, Tamkang University , Taiwan

Speaker: Chao-Sung Huang, China Times Media Group, Taiwan

Panelist: Chew Soon Beng , Nanyang Technological University , Singapore  

 

Panel Session B. Management Education: Are We Meeting the Challenge?

·    Are we in the business of education or training

·    Can critical thinking be taught?

·    Should/can we teach ethics?

·    Continuing education - MBA for life?

·    international perspective – impact of different cultures on management education.

Chairperson: Dan Palmon, Rutgers University , USA

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

   Hong-Chang Chang, Fubon Financial Holding Co., Ltd., and Former Dean of School of Management, National Taiwan University, Taiwan

   Kashi R. Balachandran, New York University , USA

   

July 20   11: 00 a .m. – 12:30 p.m.

Academic Session I. Risk Management (A)

Chairperson: Thai Huu Hong Pham, University of Birmingham , UK

1.      Deposit Insurance in the Wake of the Asian Financial Crisis

David K. Walker , Canada Deposit Insurance Corporation, Canada

2.      Keiretsu and Risk: An Examination of the Risk Exposure of Keiretsu Banks in Japan

Rungrudee Suetorsak , State University of New York-Fredonia , USA

3.      Bank Lending & Firm Financing in Transition Economies-Evidence From Listed Firm in Vietnam

Thai Huu Hong Pham, University of Birmingham , UK

4.      Analyzing Yield, Duration and Convexity of Mortgage Loans under Prepayment and Default Risks

Szu-Lang Liao , National Chengchi University and National University of Kaohsiung , Taiwan

Ming-Shann Tsai, National Chi-Nan University , Taiwan

Shu-Lin Chiang, National Chengchi University , Taiwan  

 

July 20   11: 00 a .m. – 12:30 p.m.

Academic Session II. Asian Stock Market (A)

Chairperson: Charles J. Corrado, Massey University , New Zealand

1.      Conducting Event Studies With Asia-Pacific Stock Market Data

Charles J. Corrado, Massey University , New Zealand

Cameron Truong, University of Auckland , New Zealand

2.      Price Discovery and Arbitrage between Futures and Cash Markets -A Case study on National Stock Exchange of India (NSE)

Hiren M Maniar , Bhavnagar University , India

Rajesh Bhatt, Bhavnagar University , India

Dharmesh M Maniyar, Aston University , Birmingham , UK

3.      Persistence of Size and Value Premia and the Robustness of the Fama-French Three Factor Model: Evidence from the Hong Stock Market

Gilbert V. Nartea, Lincoln University , New Zealand

Christopher Gan, Lincoln University , New Zealand

Ji Wu, Lincoln University , New Zealand

   

July 20   11: 00 a .m. – 12:30 p.m.

Academic Session III. Inside Trading and Corporate Governance

Chairperson: Chaoshin Chiao , National Dong Hwa University , Taiwan

1.      The Information Content of Directors’ Trades: Empirical analysis of the Australian Market

Harminder Singh, Deakin University , Australia

Lisa Hotson, Deakin University , Australia

2.      The Balanced Scorecard as a corporate governance tool: A French inquiry

Grégory Wegmann, University of Burgundy , France

3.     Institutional Herding, Positive Feedback Trading and Opening Price Behavior in Taiwan

Chaoshin Chiao , National Dong Hwa University , Taiwan

Weifeng Hung, Da-Yeh University , Taiwan

Cheng F. Lee , Rutgers University , USA

July 20   11: 00 a .m. – 12:30 p.m.

Academic Session IV. Accounting (A)

Chairperson: Leonard Goodman , Rutgers University , USA

1.      The Role of Accruals as A Signal in Earnings and Dividend Announcements: NZ Evidence

Hardjo Koerniadi, Auckland University of Technology , New Zealand

Alireza Tourani-Rad, Auckland University of Technology , New Zealand

2.     Impact of Restatement of Earnings on Trading Metrics

Duong Nguyen, University of Massachusetts Dartmouth , USA

Shahid S. Hamid , Florida International University , USA

Suchi Mishra, Florida International University , USA

Arun Prakash, Florida International University , USA

3.      Practical Training and Audit Expectation Gap: The Case of Accounting Undergraduates of Universiti Utara Malaysia

Azham Md. Ali, Universiti Utara Malaysia, Malaysia

Nor Zalina Mohamad Yusof, Universiti Utara Malaysia, Malaysia

Rosli Mohamad, Universiti Utara Malaysia, Malaysia

Teck Heang Lee, Universiti Tunku Abdul Rahman, Malaysia

   

July 20   11: 00 a .m. – 12:30 p.m.

Academic Session V. Corporate Finance (A)

Chairperson: Keshab Shrestha , Nanyang Technological University , Singapore

1.      Corporate Bond Spread Decomposition and Diversification: A Pooled Estimation on Heterogeneous Panels

William T. Lin , Tamkang University , Taiwan

David Sun , Tamkang University , Taiwan

Kuang-Ping Ku, Tamkang University , Taiwan

2.      Diversification and Firm Value in New Zealand

André J. Bate, New Zealand Exchange Limited (NZX), New Zealand

Gurmeet S. Bhabra, University of Otago , New Zealand

3.      Dividend Policy in the Absence of Taxes

Khamis Al-Yahyaee, University of New South Wales , Australia

Toan Pham, University of New South Wales , Australia

Terry Walter, University of New South Wales , Australia

4.      Optimal Revenue Sharing Contracts with Externalities and Dual Agency

Timothy J. Riddiough, University of Wisconsin-Madison , USA

Joseph T. Williams , Professors Capital, USA

5.      A New Study On The Impacts Of Stock Split

Zeng Lei, Nanyang Technological University , Singapore

Keshab Shrestha , Nanyang Technological University , Singapore

 

July 20 12:30 p.m. – 14:15 p.m. Lunch & Luncheon Speech:

Speaker: Vu Thanh Tu Anh, Research Director of Fulbright Economic Teaching Program in Vietnam , Vietnam

Title: An Overview of Vietnam 's Economy: Opportunities and Challenge

ChairpersonLe Nguyen Hau, Vice Dean of School of Industrial Management, Ho Chi Minh City University of Technology , Vietnam

 

July 20 14:15 p.m. – 15:45 p.m. Concurrent Sessions:

July 20   14:15 p.m. – 15:45 p.m.

Panel Session C. Asian Economic Development and Performance of Pacific Basin Countries

Chairperson: Chin-Chen Chien , National Cheng Kung University , Taiwan

1.      The People’s Republic of China : Recent Economic Performance and Development Challenges 

Frank P.C. Fang, Taiwan Commercial Press, Inc., Taiwan

2.      Transaction Cost and Economic Modernization in Asia : A Political Economy Approach

Khairy Tourk, Illinois Institute of Technology, USA

  

July 20   14:15 p.m. – 15:45 p.m.

Panel Session D. How to Establish a B-to-B Brand With Oligopoly Strategy and a  B-to-C Brand With Limited Resources

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

Speaker1: How to Establish a B-to-B Brand With Oligopoly Strategy– A Study of Wintek Corporation

              Hyley Huang, Wintek Corporation and National Chiao Tung University , Taiwan

                  Jen-Hung Huang, National Chiao Tung University, Taiwan

Speaker2: How to Establish a B-to-C Brand With Limited Resources– A Case Study of Aiptek International Marketing and Branding Strategy  [File 1] [File 2]
                 Cheng-Tien Chen, CEO of Aiptek Inc., Taiwan

 

July 20   14:15 p.m. – 15:45 p.m.

Academic Session VI. Options and Futures (A)

Chairperson: Ghulam Sorwar, Nottingham University , United Kingdom

1.      Expiration Hour Effect of Futures and Options Markets on Stock Market”- A Case Study on NSE (National Stock Exchange of India )

Hiren M Maniar , Bhavnagar University , India

Rajesh Bhatt, Bhavnagar University , India

Dharmesh M Maniyar, Aston University , Birmingham , UK

2.      Valuing Cash-financed Takeover Offers: An Option Pricing Approach

Sudi Sudarsanam, Cranfield University , United Kingdom

Ghulam Sorwar, Nottingham University , United Kingdom

3.      A fuzzy real option valuation approach to capital budgeting under uncertainty

Shin-Yun Wang, National Dong Hwa University , Taiwan

Cheng-Few Lee, Rutgers University , USA

   

July 20   14:15 p.m. – 15:45 p.m.

Academic Session VII. Risk Management (B)

Chairperson: Kehluh Wang, National Chiao Tung University , Taiwan

1.      Crises, Contagion and Cross-Listings

Nandini Chandar, Drexel University , USA

Dilip K. Patro , Risk Analysis Division Office of the Comptroller of the Currency, USA

Ari Yezegel , Rutgers University , USA

2.      Risk and Returns in Asia Pacific Markets

Yanhui Wu, The University of Queensland , Australia

Bin LI, The University of Queensland , Australia

3.      Value-at-Risk Performance of Stochastic and ARCH Type Volatility Models: New Evidence

Binh Do, Monash University , Australia

4.      Default correlation at the sovereign level: Evidence from Latin American markets

Yi-Hsuan Chen, Chung Hua University , Taiwan

Kehluh Wang, National Chiao Tung University , Taiwan

Anthony H. Tu , National Chengchi University , Taiwan

   

July 20   14:15 p.m. – 15:45 p.m.

Academic Session VIII. Corporate Finance (B)

Chairperson: Martin Young, Massey University , New Zealand

1.      Ownership concentration, agency conflicts, and dividend policy in Japan

Kimie Harada, Chuo University , Japan

Pascal Nguyen , The University of New South Wales , Australia

2.      The Long-run Out-performance of the Chinese IPOs

Jing Chi, Massey University , New Zealand

Chunping Wang, Massey University , New Zealand

Martin Young, Massey University , New Zealand

3.      Study on Capital Structures & Operating Performances of Credit Cooperatives in Taiwan —Application of Panel Threshold Method

Kuei-Chiu Lee, Feng Chia University , Taiwan

Chia-Hao Lee, National Chung Hsing University , Taiwan

4.      Private Placement and Share Price Reaction: Evidence from the Australian Biotechnology and Health Care Sector

Frank Lin, Deakin University , Australia

Gerard Gannon, Deakin University , Australia

   

July 20   14:15 p.m. – 15:45 p.m.

Academic Session IX. Corporate Finance (C)

Chairperson: Nguyen Trong Hoai, HoChiMinh City University of Economics , Vietnam

1.      The Impact of Economic Development on Capital Structure Taking into Account Financial Flexibility, Macroeconomic Conditions and Tax Integration: Evidence from Taiwan

Hsien-Hung Yeh, National Pingtung University of Science and Technology , Taiwan

Eduardo Roca, Griffith University , Australia

2.      Relations among Dividend Yields, Price Earning Ratio and the Expected Stock Returns Based on Multivariate Causal Estimates: The Case of Malaysia

Wan Mansor Wan Mahmood, Universiti Teknologi MARA Terengganu , Malaysia

Faizatul Syuhada Abdul Fatah, Universiti Teknologi MARA Terengganu , Malaysia

3.    Ultimate Owners, Financial Constraints, and Capital Structure: Evidence from Thailand

J. Thomas Connelly , Chulalongkorn University , Thailand

4.     Announcement Effect on the Credit Spreads of US Dollar Malaysian Bonds

Chee Jin Yap, Deakin University , Australia

Gerard Gannon, Deakin University , Australia

5.      Panel Threshold Effect of Debt Ratio on Firm Value in Taiwanese Listed Companies

Feng-Li Lin, Chaoyang University of Technology , Taiwan

   

July 20   14:15 p.m. – 15:45 p.m.

Academic Session X. Mutual Funds

Chairperson: Michael E. Drew, Queensland University of Technology , Australia

1.      On the Use of Data Envelopment Analysis in Hedge Fund Performance Appraisal

Huyen Nguyen-Thi-Thanh, LEO, Universit´e d’Orl´eans, France

2.      Investment Style of Mutual Funds: How Is It Related to Economic Indicators

Wee-Yeap Lau, University of Malaya , Malaysia

3.      Portfolio Size and Lifecycle Asset Allocation in Pension Funds

Anup K. Basu, Queensland University of Technology , Australia

Michael E. Drew, Queensland University of Technology , Australia

   

July 20 15:45p.m. 16:00 p.m. Coffee Break

   

July 20   16:00 p.m. – 17:30 p.m.      Concurrent Sessions:

July 20   16:00 p.m. – 17:30 p.m.

Panel Session E. Asian Financial Reform and Economic Development

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

1.      Annual Competitiveness Rankings, Financial Reforms and Liberalization Progress of ASEAN 10 + 5 Economies (i.e. Mainland China , Hong Kong , Japan , Korea & Taiwan )

Tan Khee Giap , Nanyang Technological University , Singapore

2.      Recent Economic Development of Vietnam

Nguyen Xuan Trinh, Central Institute For Economic Management, Vietnam

3.      The Role of Gold in the Financial Development of Vietnam

Huynh Trung Khanah , World Gold Council (Far East), Vietnam

   

July 20   16:00 p.m. – 17:30 p.m.

Panel Session F. Asian Financial Market and Credit Risk Management

Chairperson: Heh-Song Wang, Kainan University and Fu-Jen Catholic University , Taiwan

1.      Ten Years After The Asian Financial Crisis

Heh-Song Wang, Kainan University and Fu-Jen Catholic University , Taiwan

2.      Development of Financial Markets in HCMC: Still finding a way in obscurity

Vu Ngoc Anh, HCMC Institute of Economic Research , Vietnam

3.      Credit Risk Management: Theory and Empirical Experiences

Simon Dzeng, Mega Financial Holding Company , Taiwan

   

July 20   16:00 p.m. – 17:30 p.m.

Academic Session XI. Corporate Finance (D)

Chairperson: Lee J. Yao, Loyola University New Orleans , USA

1.      Consolidation, Market Structure and Competition in the Malaysian Banking Industry: Empirical Evidence from Malaysia

Muhamed-Zulkhibri Abdul Majid, Central Bank of Malaysia , Malaysia

Fadzlan Sufian, Bumiputra-Commerce Bank Berhad and University of Malaya , Malaysia

Mohd Norfian Alifiah, University Technology Malaysia , Malaysia

2.      Using debt-related events as explanatory factor of audit failures

Lee J. Yao, Loyola University New Orleans , USA

Siew H. Chan , Washington State University , USA

Jia Wu, University of Massachusetts at Dartmouth , USA

3.      Can Size Effect Be Explained by the Survivorship Bias and Bankruptcy Risk?

Chin-Chen Chien , National Cheng Kung University , Taiwan

Tsung-Cheng Chen, Tainan University of Technology , Taiwan

4.      Should All Competitors Cooperate Together? A Coopetition Contest Model

Duc-De Ngo, LEO, Universit´e d’Orl´eans, France

5.      Testing Static Tradeoff against Pecking Order Models of Capital Structure in Japanese Firms

Rongrong Zhang, Tohoku University , Japan

Yoshio Kanazaki, Tohoku University , Japan

   

July 20   16:00 p.m. – 17:30 p.m.

Academic Session XII. Banking Management and Performance

Chairperson: Eduardo Roca, Griffith University , Australia

1.      The Performance of Pakistani Islamic Bank During 1999-2006: An Exploratory Study

Hassan Rashid, Mohammad Ali Jinnah University , Pakistan

2.      Global Integration of the Banking Industry: Evidence from a Renowned International Financial Centre Based on Markov Regime Switching Approach

Malar Mavanna, Griffith University , Australia

Eduardo Roca, Griffith University , Australia

Victor Wong, Griffith University , Australia

3.      Evaluating the Efficiency of Vietnam Commercial Banksan Application of -System Mode, DEA Approach

Chuang-Min Chao, National Taipei University of Technology , Taiwan

Nguyen Thi Thu Thuy, National Taipei University of Technology , Taiwan

 

 

July 20   16:00 p.m. – 17:30 p.m.

Academic Session XIII. Foreign Exchange and International Investment

Chairperson: Amir N. Licht, Interdisciplinary Center Herzliya, Israel

1.      Policy Coordination and Risk Premium in Foreign Exchange Markets for Major EU Currencies

Chanwit Phengpis, California State University , USA

Vanthuan Nguyen, Morgan State University , USA

2.     Foreign Exchange Exposures, Financial and Operational Hedge Strategies of Taiwan Firms

Yi-Chein Chiang, Feng Chia University , Taiwan

Hui-Ju Lin, Feng Chia University , Taiwan

3.      Are Capital Controls Effective in the Foreign Exchange Market?

Roald J. Versteeg, Maastricht University , Netherlands

Stefan T.M. Straetmans, Maastricht University , Netherlands

Christian C.P Wolff, Maastricht University and CEPR, Netherlands

4.      Egalitarianism and International Investment

Jordan I. Siegel, Harvard Business School , USA

Amir N. Licht, Interdisciplinary Center Herzliya, Israel

Shalom H. Schwartz , Hebrew University in Jerusalem , Israel

 

 

July 20   16:00 p.m. – 17:30 p.m.

Academic Session XIV. Market Efficiency: Theory and Evidence

Chairperson: Gili Yen , Nai Kai Institute of Technology , Taiwan

1.      Efficient Market Hypothesis: A Focused Survey of the Empirical Literature

Gili Yen , Nai Kai Institute of Technology , Taiwan

Cheng-Few Lee, Rutgers University , USA

2.      Comparison of relative market efficiency in different trading system: Open-outcry and electronic trading system for Nikkei 225 Futures in Singapore Exchange Derivatives Trading

Masayuki Susai, Nagasaki University , Japan

Hiroshi Moriyasu, Nagasaki University , Japan

3.     Asymmetric Causal Relationship between Stock and Exchange Rate—Evidence from Japan and Taiwan

Chien-Chung Nieh, Tamkang University , Taiwan

De-Piao Tang, National Taiwan University , Taiwan

Ya-Yi Chan, Tamkang University , Taiwan

4.     The Declining Trend in Idiosyncratic Volatility: Post Decimalization Evidence

Chandrasekhar Krishnamurti , Monash University , Australia

Tiong Yang Thong, UNSW Asia, Singapore

 

July 20   16:00 p.m. – 17:30 p.m.

Academic Session XV. Insurance and Health Economics

Chairperson: David Shyu, National Sun Yat-sen University , Taiwan

1.      The Pricing of Securitization of Life Insurance under Mortality Dependence

David Shyu, National Sun Yat-sen University , Taiwan

Chia-Chien Chang, National Sun Yat-sen University , Taiwan

2.      Do Mergers and Acquisitions Create Shareholder Wealth In The Pharmaceutical Industry?

Dilip K. Patro , Office of the Comptroller of Currency, USA

Howard Tuckman, Fordham University , USA

Xiaoli Wang, Bear Sterns, USA

Mahmud Hassan, Rutgers University , USA

3.     Insurance and construction project risks: a review and research agenda

Junying Liu, Tianjin University , China

Bingguang Li, Shenandoah University , USA

Jiong Zhang, Heath Lambert Group, United Kingdom

4.      The Role Of Private Sector In Developing Health System In A Mountainous Area: The Case Of Binhphuoc Province In Vietnam

Nguyen Trong Hoai, University of Economics , Vietnam

 

 

July 20 19:00 p.m. – 21:30 p.m. Dinner (Sponsored by Polaris)

Welcome remarks  (19:00~19:05)

Speaker: Prof. Cheng F. Lee

Opening remarks  (19:05~19:30)

1.          Sponsor: C Y Huang , Polaris Financial Group, Taiwan

2.         Vietnams ’ official representative

3.          Taiwan ’s official representative

4.          Taiwan Businessmen’s representative

Dinner Speech  (19:30~20:00)

Speaker: Vuong Duc Hoang Quan, Investment Department, Ho Chi Minh City Investment Fund for Urban Development (HIFU), Vietnam

Title: Financing Urban Infrastructure Development: HIFU’s Practical Experience

Chairperson Cao Hao Thi , Ho Chi Minh City University of Technology , Vietnam

 


Saturday, July 21, 2007

 

July 21 8: 30 a .m. – 9: 00 a .m.    Registration

 

 

July 21 9: 00 a .m. – 9: 40 a .m.     Keynote Speech II

Speaker: Hendrik Bessembinder, University of Utah , USA

Title: Designated Market Makers, Affirmative Obligations, and Market Quality

Chairperson: Cheng Few Lee , Rutgers University , USA , and National Chiao Tung University, Taiwan

 

 

July 21 9: 40 a .m. – 10: 20 a .m.   Keynote Speech III

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

Title: Corporate Governance: The Strategic Responsibility of the Board. Results of an Empirical Study in Switzerland

Chairperson: Pham Phu, Member of National Education Council of Vietnam, and Founder of School of Industrial Management, HoChiMinh University of Technology-Vietnam National University, Vietnam

 

 

July 21 10: 20 a .m. – 11: 00 a .m. Coffee Break

 

 

July 21 11: 00 a .m. – 12:30 p.m. Concurrent Sessions:

July 21   11: 00 a .m. – 12:30 p.m.

Panel Session G. Overview of Vietnam Stock Exchange

Chairperson: Cao Hao Thi , Ho Chi Minh City University of Technology , Vietnam

Speaker: Tran Dac Sinh, Hochiminh City Stock Exchange, Vietnam

 

 

July 21   11: 00 a .m. – 12:30 p.m.

Academic Session XVI. Accounting (B)

Chairperson: Robert Luther, University of the West of England , United Kingdom

1.      The Impact of the SEC on the First 100 Statements of the FASB

Dan Palmon, Rutgers University , USA

2.      An Evidence-Based Taxonomy of Intellectual Capital

Ching Choo Huang, Universiti Teknologi Mara , Malaysia

Robert Luther, University of the West of England , United Kingdom

Michael Tayles, University of Hull , United Kingdom

3.      Do auditors’ opinions, industry factors and macroeconomic factors signal financial distress? Evidence from Taiwan

Chengfew Lee, Rutgers University , USA

Lili Sun, Rutgers University , USA

Bi-Huei Tsai , National Chiao Tung University , Taiwan

4.      An Empirical Study on Issues in Taiwanese Employee Bonuses Plans

Po-Sheng Ko, National Kaohsiung University of Applied Sciences, Taiwan

Wen-Shain Lin, I-Shou University , Taiwan

Wen-Chih Lee, National Kaohsiung University of Applied Sciences, Taiwan

 

 

July 21   11: 00 a .m. – 12:30 p.m.

Academic Session XVII. Applied Economics (A)

Chairperson: Chien-Fu Jeff Lin , National Taiwan University , Taiwan

1.      A Comparative Evaluation of The Bose-Einstein Entropy, Spatial Equilibrium and The Linear Programming Transportation Models of The Appalachian Steam Coal Market

Cindy Hsiao-Ping Peng, Yu Da College of Business , Taiwan

L. S.Chen, Shu-Te University , Taiwan

Pao- Yuan Chen, Nanhua University , Taiwan

2.      A study of Causal Relationship among Economic Freedom, Economic Growth, and Corruption: Empirical Evidence from Panel Data

Tsangyao Chang, Feng Chia University , Taiwan

Wen-Chi Liu, Da Yeh University and Feng Chia University , Taiwan

Yu-Chen Shih, Tamkang University , Taiwan

3.      Financial Disintermediation in the 1990s: Implications on Monetary Policy for Malaysia

Anthony C.K. Tan, University of Malaya , Malaysia

Kim-Leng Goh , University of Malaya , Malaysia

 

 

July 21   11: 00 a .m. – 12:30 p.m.

Academic Session XVIII. Corporate Governance and Dividend Policy

Chairperson: Hans Stoessel, Swiss Development Cooperation (SDC) Consultant, and former Director of Swiss-AIT-Vietnam (SAV) Management Development Programme

1.      Structure of Board of Directors and Financial Reporting Fraud

Yijiang Zhao, University of Alaska Fairbanks, USA

Kung H. Chen , University of Nebraska-Lincoln, USA

2.      Executive Pay Dispersion, Corporate Governance and Firm Performance

Kin Wai Lee , Nanyang Technological University, Singapore

Baruch Lev, New York University, USA

Gillian Hian Heng Yeo, Nanyang Technological University, Singapore

3.      Effectiveness of Dividend Policy Under the Capital Asset Pricing Model: A Dynamic Analysis

Manak C. Gupta , Temple University , USA

Alice C. Lee , San Francisco State University , USA

Cheng-Few Lee, Rutgers University , USA

 

 

July 21   11: 00 a .m. – 12:30 p.m.

Academic Session XIX. Financial Econometrics

Chairperson: Duong Nguyen, University of Massachusetts Dartmouth , USA

1.      The Relationship between Stock Prices and Dividends: Evidence Based on Taiwan Panel Data Investigation

Chi-Wei Su, Providence University , Taiwan

Hsuling Chang, Lin Tung University , Taiwan

Chien-Chun Wei, Providence University , Taiwan

Ruo-Yi Lai, Tamkang University , Taiwan

2.      Higher Order Systematic Co-Moments and Asset-Pricing: New Evidence

Duong Nguyen, University of Massachusetts Dartmouth , USA

Tribhuvan N. Puri , University of Massachusetts Dartmouth , USA

3.      The intraday price behavior of Australian exchange traded options and warrants

William J. Bertin, Bond University , Australia

David Michayluk, University of Technology , Sydney , Australia

Laurie Prather, Bond University , Australia

4.      The determinants of stock market integration: A panel data investigation

Chee-Wooi Hooy, University of Malaya , Malaysia

Kim-Leng Goh , University of Malaya , Malaysia

5.      A Panel Unit Root and Panel Cointegration Test of The Modeling International Tourism Demand in India

Parsert Chaitip, Chiang Mai University , Thailand

N. Rangaswamy, Bangalore University , India

Chukiat Chaiboonsri, Bangalore University , India

 

 

July 21   11: 00 a .m. – 12:30 p.m.

Academic Session XX. Management

Chairperson: Ken Hung , National Dong Hwa University , Taiwan

1.      An Ordered Probit Model for Understanding Student Performance in Operations Management

Tony R. Johns , Clarion University , USA

Chin W. Yang , Clarion University , USA

Paul Y. Kim , Clarion University , USA

Ken Hung , National Dong Hwa University , Taiwan

2.      What Does a Concept Attract? The Case of Gaming in Macau

Rose Neng Lai, University of Macau , China

Raymond W. So, Chinese University of Hong Kong , Hong Kong

Ricardo Chi Sen Siu, University of Macau , China

3.      How Much are College Presidents Paid?

Carl R. Chen , University of Dayton , USA

Ying Huang, Manhattan College , USA

4.      An Empirical Study on the Relationship between Intellectual Capital and Knowledge Creation

Yi-Chun Huang , National Kaohsiung University of Applied Sciences, Taiwan

Jih-Jen Liou, National Kaohsiung University of Applied Sciences, Taiwan

 

 

July 21 12:30 p.m. – 14:15 p.m. Luncheon Speech

SpeakerDu Phuoc Tan, External Cooperation Department of Institute for Economic Research - Ho Chi Minh City , Vietnam

Title Ho Chi Minh City Economic Overview and Potential for Development

ChairpersonLe Nguyen Hau, Ho Chi Minh City University of Technology , Vietnam

 

 

July 21 14:15 p.m. – 15:45 p.m.   Concurrent Sessions:

July 21   14:15 p.m. – 15:45 p.m.

Panel Session H. How to Publish Papers in High Quality Journals

Chairperson: Cheng Few Lee , Rutgers University , USA , and National Chiao Tung University, Taiwan

Panelists: Hendrik Bessembinder, University of Utah , USA

Carl Chen, University of Dayton , USA

Kashi R. Balachandran, New York University , USA

 

 

July 21   14:15 p.m. – 15:45 p.m.

Academic Session XXI. Asian Bond and Stock Market

Chairperson: Jianxin Wang, University of New South Wales , Australia

1.      An Empirical Study of Taiwan Bond Market Based on Nonlinear Dynamic Model

Tsangyao Chang, Feng Chia University , Taiwan

Shu-Chen Kang, Feng Chia University , Taiwan

2.      Stock manipulation and its impact on market quality

Yu Chuan Huang, National Kaohsiung First University of Science and Technology , Taiwan

Roger C.Y. Chen, National Kaohsiung First University of Science and Technology , Taiwan

Yao Jen Cheng , National Kaohsiung First University of Science and Technology , Taiwan

3.      The Causal Relationship between Foreign Ownership and Stock Volatility in Indonesia

Jianxin Wang, University of New South Wales , Australia

4.      The Forecasting Performance of Model Free Implied Volatility: Evidence from an Emerging Market

Mei-Maun Hseu, Chihlee Institute of Technology , Taiwan

Wei-Peng Chen, National Chiao Tung University , Taiwan

Huimin Chung , National Chiao Tung University , Taiwan

 

 

 

July 21   14:15 p.m. – 15:45 p.m.

Academic Session XXII. Microstructure

Chairperson: Karen, H.Y. Wong, The Open University of Hong Kong , Hong Kong

1.      Dynamics of Event-Induced Liquidity Changes In the Aftermarket

Alexander Molchanov, Massey University , New Zealand

2.      Delayed Price Discovery and Momentum Strategies: Evidence from Vietnam

Cameron Truong, The University of Auckland , New Zealand

Madhu Veeraraghavan, Monash University , Australia

Mai Truc Thi Nguyen, Ho Chi Minh City Securities Trading Center , Vietnam

3.      Premium-Discount Patterns in Exchange-Traded Funds (ETFs): Evidence from the Tracker Fund of Hong Kong (TraHK)

Karen, H.Y. Wong, The Open University of Hong Kong , Hong Kong

Gordon, Y.N. Tang, Hong Kong Baptist University , Hong Kong

4.      The Impact of Surprise Offer-Share Adjustments on Offer-Day Returns: Evidence from Seasoned Equity Offers

Hoje Jo, Santa Clara University, USA

Yongtae Kim, Santa Clara University, USA

Myung Seok Park , Virginia Commonwealth University, USA

 

 

 

July 21   14:15 p.m. – 15:45 p.m.

Academic Session XXIII. Applied Economics (B)

Chairperson: Nobuhiro Takahashi, Osaka City University , Japan

1.      Value capturing: a realistic funding source for urban transportation in Ho Chi Minh City ?

Nguyen Thien Phu, Ho Chi Minh City University of Technology , Vietnam

2.      An Empirical Test of a Resources Deployment Portfolio (RDP) Approach to Business Group ROE Decomposition

David M. Chen , Fu Jen Catholic University , Taiwan

 Li-Ling, Yang, Fu Jen Catholic University , Taiwan

3.      Financial Constraints and the Effects of Alternative Financial System Design

Solomon Tadesse, University of Michigan , USA

4.      Offshoring of Software Development from Japan to China

Nobuhiro Takahashi, Osaka City University , Japan

Mita Li, Kyoto University , Japan

 

 

July 21   14:15 p.m. – 15:45 p.m.

Academic Session XXIV. Asian Stock Market (B)

Chairperson: Victor S.H. Wong, Griffith University , Australia

1.      Are large returns followed by predictable patterns? Evidence across Asia-Pacific Markets

Pham Vu Thang Long, Osaka University , Australia

Do Quoc Tho Nguyen, University of New South Wales , Australia

Thuy-Duong Tô, University of Adelaide , Australia

2.      Socially Responsible Investments: Do They Make A Difference to the Systematic Risk of Australian Superannuation Funds?

Victor S.H. Wong, Griffith University , Australia

Eduardo D. Roca, Griffith University , Australia

Anand G. Tularam, Griffith University , Australia

3.      Investment Behavior of Foreign Investors in Taiwan : Momentum vs. Contrarian Strategies

Mei-Ling Chen, Da-Yeh University , Taiwan

Mei-Chin Hung, Da-Yeh University , Taiwan

Fu-Lai Lin, Da-Yeh University , Taiwan

Weifang Hung, Da-Yeh University , Taiwan

4.      The Order Submission Behaviors surrounding Open-Market Repurchase Announcements: The Examination of a Missing Link Embedded in the Signaling Hypothesis

Chaoshin Chiao , National Dong Hwa University , Taiwan

Hsiang-Hsuan Chih, National Dong Hwa University , Taiwan

Zi-May Wang, National Dong Hwa University , Taiwan

Ya-Rou Hsu, Shin Kong Bank, Taiwan

 

 

July 21   14:15 p.m. – 15:45 p.m.

Academic Session XXV. Options and Futures (B)

Chairperson: Mei-Ling Chen, Da-Yeh University , Taiwan

1.      Difference of linkage between spot and futures markets in Nikkei225 stock index and DJIA index

Takanori Usui, University of Tsukuba , Japan

Isao Shoji, University of Tsukuba , Japan

2.      Alternative Methods for Estimating Hedge Ratio: Review, Integration and Empirical Evidence

Cheng-Few Lee, Rutgers University , USA

Fu-Lai Lin, Da-Yeh University , Taiwan

Hui-Chuan Tu, Chungchou Institute of Technology , Taiwan

Mei-Ling Chen, Da-Yeh University , Taiwan

3.      A Mortgage Backed Securities Pricing Model and Its Implication of Trading Strategy

Winson Hung, National Taiwan University , Taiwan

Chien-fu Jeff Lin , National Taiwan University , Taiwan

 

 

July 21 15:45 p.m. – 16:00 p.m. Coffee Break

 

 

July 21 16:00 p.m. – 17:30 p.m.   Concurrent Sessions:

July 21   16:00 p.m. – 17:30 p.m.

Panel Session I. Active & Passive Management of Taiwan 's Funds Market

Chairperson: Chaoshin Chiao , National Dong Hwa University , Taiwan

Speaker: Tsung Sheng Liu , Polaris Financial Group, Taiwan

 

 

Academic Session XXVI. Behavior Finance

Chairperson: Wei Li, The Hong Kong Polytechnic University , Hong Kong

1.      Herd Behavior towards the Market Index: Evidence from 21 Financial Markets

Daxue Wang, IESE Business School , Spain

Miguel Canela, University of Barcelona , Spain

2.      In Search of Liquidity: An Analysis of Order Submission Strategies in Automated Markets

Hendrik Bessembinder, University of Utah , USA

3.      Formulation of a Herd Measure for Detecting Monthly Herding Behaviour in an Equity Market

Yoke-Chen Wong , Sunway University College , Malaysia

Ah-Hin Pooi, University of Malaya , Malaysia

Kim-Lian Kok, Stamford College , Malaysia

4.      What Make Chinese Institutional and Individual Investors Trade Excessively?

Steven Shuye Wang, The Hong Kong Polytechnic University , Hong Kong

Wei Li, The Hong Kong Polytechnic University , Hong Kong

Ping He, Zhuhai Campus of Beijing Normal University and Hong Kong Baptist University , China

 

 

July 21   16:00 p.m. – 17:30 p.m.

Academic Session XXVII. Macro Policy

Chairperson: Kai-Li Wang, Tunghai University , Taiwan

1.       Vietnam ’s Banking Sector Reform For WTO Accession

Phan Van Sam , Mekong University , Vietnam

2.      Macroeconomic volatility and stock returns: Evidence from Mediterranean markets

Ahmed Hachicha, Tunisian University of Management and Economics Sciences, Tunisia

Fatma Hachicha, Tunisian University of Management and Economics Sciences, Tunisia

3.      Aggregation of Forecasts, Data and Model

Meng-Feng Yen , National Cheng Kung University , Taiwan

Kai-Li Wang, Tunghai University , Taiwan

Ming-Yuan Li, National Cheng Kung University , Taiwan

4.      The Determinants of Earnings in Singapore

Nic Groenewold, The University of Western Australia , Australia

Chew Soon Beng , Nanyang Technological University , Singapore

Rosalind Chew, Nanyang Technological University , Singapore

 

 

July 21   16:00 p.m. – 17:30 p.m.

Academic Session XXVIII. Banking and Mutual Funds Management

Chairperson: Beng Soon Chong, Nanyang Technological University , Singapore

1.      Bank lending and interest rate channels in Egypt : An empirical investigation based on SVAR models

Ahmed Hachicha, Tunisian University of Management and Economics Sciences, Tunisia

Abdelkader Chaabane, Tunisian University of Management and Economics Sciences, Tunisia

2.      Banking Fragility and Disclosure: International Evidence

Solomon Tadesse, University of Michigan , USA

3.      Islamic Banking: Interest-Free or Interest-Based?

Beng Soon Chong, Nanyang Technological University , Singapore

4.      Fuzzy Multi-Criteria Decision Making to Select Mutual Funds Investment Style

Shin-Yun Wang, National Dong Hwa University , Taiwan

Cheng-Few Lee, Rutgers University , USA

5.      Side-by-Side Management of Hedge Funds and Mutual Funds

Tom Nohel, Loyola University , USA

Z. Jay Wang, University of Illinois , USA

Lu Zheng, University of California , Irvine , USA

 

 

July 21   16:00 p.m. – 17:30 p.m.

Academic Session XXIX. Risk Management (C)

Chairperson: Kehluh Wang, National Chiao Tung University , Taiwan

1.      Considerations on Risk of A Securities Portfolio

Dang Dinh Cung , Ho Chi Minh City University of Technology , Vietnam

2.      Examining Financially Distressed Company in Australia : The Application of Survival Analysis

Nongnit Chancharat, University of Wollongong , Australia

Pamela Davy, University of Wollongong , Australia

Michael McCrae, University of Wollongong , Australia

3.      Credit Rating Forecasting Using Combining Technique: The Case in Taiwan

Cheng-Few Lee, National Chiao Tung University , Taiwan

Kehluh Wang, National Chiao Tung University , Taiwan

Chan-Chien Lien, National Chiao Tung University , Taiwan

 

July 21   16:00 p.m. – 17:30 p.m.

Academic Session XXX. Accounting (C)

Chairperson: Po-Sheng Ko, National Kaohsiung University of Applied Sciences, Taiwan

1.      Management Forecasts and Information Asymmetry: An Examination of Adverse Selection Cost around Earnings Announcements

H. Young Baek, Nova Southeastern University , USA

Dong-Kyoon Kim, Montclair State University , USA

Joung W. Kim, Nova Southeastern University , USA

2.      Analysis The Revenue And Expense On Economic Growth, Poverty, And Unemployment

Ardi Hamzah, Trunojoyo University , Indonesia

3.      Does Stock Market Appreciate the Implication of Order Backlog for Future Earnings? A Re-examination

Shu-hua Lee , National Taipei University , Taiwan

Po-Sheng Ko, National Kaohsiung University of Applied Sciences, Taiwan

Wen-chih Lee, National Kaohsiung University of Applied Sciences, Taiwan

Yann-Ching Tsai, National Taiwan University , Taiwan

4.      The Role of Transfer Pricing Schemes in Coordinated Supply Chains

Kashi R. Balachandran, New York University , USA

Shu-Hsing Li, National Taiwan University , Taiwan

Taychang Wang, National Taiwan University , Taiwan

Hsiao-Wen Wang, National Changhua University of Education , Taiwan