Finance Research Group

             Panel
                              Maninder Juneja, ex-ICICI Bank
                              Sudha Narayanan, IGIDR
                              Harsh Vardhan, Bain Consulting

14^th December 2016

09:00 - 09:30	Registration, Coffee and Tea
09:30 - 10:00	Inaugural: Dean Chris Guthrie and Randall Thomas, Vanderbilt Law School, S. Mahendra Dev and Susan Thomas, IGIDR
Session I	Modern Firms and The Evolution Of Corporate Law
10:00 - 11:30
	The mediating function of corporate boards of directors: Lessons from corporate history for corporate social responsibility [paper] [presentation] Margaret Blair, Vanderbilt Law School
	Regulatory entrepreneurship [paper] [presentation] Jordan Barry, University of San Diego and Elizabeth Pollman, University of Berkeley Law School and Loyola Law School
	Response of firms to listing: evidence from small and medium enterprise exchanges [presentation] Nidhi Aggarwal and Susan Thomas, Finance Research Group, IGIDR
	Discussion panel Kalpana Unadkat, Khaitan and Co. Nishith Desai, Nishith Desai and Associates Pranav Haldea, PRIME Database Pramod Kabra, India Value Fund Subrata Sarkar, IGIDR [presentation]
11:30 - 11:50	Break
Session II	Financial Firms
11:50 - 12:55
	Misled and mis-sold: Financial misbehaviour in retail banks? [paper] [presentation] Monika Halan, Mint and Renuka Sane, ISI, Delhi
	The common equity problem in bank regulation [paper] [presentation] Yesha Yadav, Vanderbilt Law School
	Discussion panel Josh Felman, Ministry of Finance
12:55 - 14:00	Lunch
14:00 - 15:30	The great Indian credit crisis
Discussants:	Josh Felman, Ministry of Finance Rajeswari Sengupta, IGIDR Harsh Vardhan, Bain Consulting
15:30 - 15:45	Break
Session III	Firms: Shareholder Activism
15:45 - 17:15
	The second wave of Hedge Fund Activism: The Importance of Reputation, Clout and Expertise [paper] [presentation] Randall Thomas, Vanderbilt Law School The Trajectory of American Corporate Governance: Shareholder Empowerment [presentation] Jennifer Hill, University of Sydney Law School Monitoring the Monitor: Distracted Institutional Investors and Board Governance [paper] [presentation] Ron Masulis, Claire Yang Liu and Le Zhang, University of New South Wales Business School, Angie Low, Nanyang Technological University
	Discussion panel J. N. Gupta, Stakeholders Empowerment Services Shubho Roy, Macro/Finance Group, National Institute of Public Finance and Policy K. N. Vaidyanathan, Mahindra & Mahindra
17:15 - 19:15	Break
19:00 - 21:30	Dinner and a conversation with U K Sinha, Chairman, Securities And Exchange Board Of India (SEBI) Host: Pradeep Yadav, University of Oklahoma, Business School and Chairman, European Finance Association

15^th December 2016

09:00 - 09:30	Registration, Coffee and Tea
Session IV	Panel On Intellectual Property, Copyright and Patent Finance
09:30 - 11:05
	New Intersections between Trade, Investment and Intellectual Property: Lessons from Lilly v Canada [paper] [presentation] Daniel Gervais, Vanderbilt Law School and World Intellectual Property Organization The Skewed Structure of Copyright Law [paper] [presentation] Joseph Fishman, Vanderbilt Law School Patent Valuation and the Uncertainity of Patent Protection [paper] [presentation] Shamnad Basheer, SpicyIP, National Law School, Bangalore and Nirma Law School
	Discussion panel Bahroze Kamdin, Deloitte [presentation] Anubha Sinha, The Center for Internet & Society
11:05 - 11:20	Break
Session V	Market Microstructure and Design
11:20 - 12:55
	The Value of a Millisecond: Harnessing Information in Fast, Fragmented Markets [paper] [presentation] Haoming Chen, University of New South Wales, Sean Foley, University of Sydney Business School, Michael Goldstein, Babson College, and Thomas Ruf, University of New South Wales Financialization, Intraday Institutional Trading, and Commodity Market Quality [paper] [presentation] Vikas Raman, University of Warwick, Michel Robey, American University and the Commodity and Futures Trading Commission, and Pradeep Yadav, University of Oklahoma Business School High frequency trading strategies [paper] [presentation] Michael Goldstein, Babson College, Amy Kwan and Richard Philip, University of Sydney Business School
	Discussion panel Kumar Goradia, Tower Research Capital Venkatesh Panchapagesan, IIM Bangalore [presentation] Nidhi Aggarwal, Finance Research Group, IGIDR
12:55 - 13:45	Lunch and Keynote Michael Barr, Roy F. and Jean Humphrey Proffitt [presentation] Professor of Law and Public Policy at University of Michigan Law School, Fmr. Assistant Secretary for Financial Institutions, U.S. Treasury
13:45 - 14:45	Payments Panel
Discussants:	Pratik Datta, National Institute of Public Finance and Policy [presentation] Michael Barr, University of Michigan Law School Bhagwan Chowdhry, University of California, Los Angeles David Katz, Paypal Yesha Yadav, Vanderbilt Law School
Session VI	Trade, Investment and the WTO
14:45 - 15:45
	How Local Discrimination Can Promote Global Public Goods [paper] [presentation] Tim Meyer, Vanderbilt Law School Interpretation of International Standards in the SPS Agreement [paper] [presentation] James Nedumpara, Jindal Global Law School
	Discussion panel Abhishek A Rastogi, Khaitan and Co. C Veeramani, IGIDR [presentation]
15:45 - 16:00	Break
Session VII	Regulatory Processes and Institutions
16:00 - 17:00
	Regulatory responsiveness in India: A normative and empirical framework for assessment [presentation] Anirudh Burman, Macro Finance Group, NIPFP and Bhargavi Zaveri, Finance Research Group, IGIDR Regulation By Threat: Understanding DODD- Frank's Regulation of Systemically Significant Non-Bank Financial Companies [paper] [presentation] David Zaring, Wharton School, University of Pennsylvania
	Discussion panel Mandar Kagade, Bharti Institute of Public Policy, Indian School of Business Richa Roy, University of Oxford Ramann Siva, National E-Governance Services Limited

16^th December 2016

09:00 - 10:00	Registration, Coffee and Tea
Session VIII	Markets in India
10:00 - 10:40	Foreign institutional investors, controlling shareholders and market timing: Evidence from India [paper] [presentation] Shradha Bindal and Imran Haque, Texas A&M University, and Suman Saurabh, Indian Institute of Management, Ahmedabad Discussant: Ajay Shah, National Institute of Public Finance and Policy
10:40 - 11:20	Trading Activity in the Indian Government Bond Market [paper] [presentation] Michael Fleming, Federal Reserve Bank of New York, Seema Saggar, Reserve Bank of India and Samita Sareen, New York University Discussant: Anjali Sharma, Finance Research Group, IGIDR
11:20 - 11:35	Break
Session IX	Asset pricing
11:35 - 12:15	Uncovered Equity "Disparity" in Emerging Markets [paper] [presentation] Ana-Maria Fuertes and Kate Phylaktis, Cass Business School and Cheng Yan, Durham University Business School Discussant: Sanjay Banerjee, University of Nottingham Business School
12:15 - 12:55	Is Liquidity Risk Priced in Partially Segmented Markets? Ines Chaieb, University of Geneva, Vihang Errunza, McGill University and Hugues Langlois, HEC Paris Discussant: Amy Kwan, University of Sydney Business School [presentation]
12:55 - 13:55	Lunch and Keynote M. S. Sahoo, Insolvency and Bankruptcy Board
13:55 - 15:00	Bankruptcy Panel
Discussants:	Ravi Chachra, Eight Capital Adam Feibelman, Tulane University Law School Aparna Ravi, Samvad Partners M. S. Sahoo, Insolvency and Bankruptcy Board Bahram Vakil, AZB Partners
15:00 - 15:15	Break
Session X	Cross country finance Chairperson: Samar Banwat, National Securities Depository Ltd.
15:15 - 15:55	Foreign bank ownership and risk-taking: Evidence from emerging economies [paper] [presentation] Bang Nam Jeon, Drexel University, Minghua Chen, Rui Wang and Ji Wu, South-western University of Finance and Economics, Chengdu Discussant: Rajeswari Sengupta, IGIDR
15:55 - 16:35	Price Discovery of Indexes Futures Across Markets [paper] [presentation] Jerry Cao, Lingnan College, Xiaoming Wang, Shanghai University of Finance and Economics, Nelson K. L. Yap and Sili Zhou, Lee Kong Chian School of Business Discussant: Nidhi Aggarwal, Finance Research Group, IGIDR
16:35 - 18:30	Break
18:30 - 22:00	Cultural Themed Dinner

17^th December 2016

09:00 - 10:00	Registration Coffee and tea
Session XI	Investors Behaviour
10:00 - 10:40	Do investors flip less in bookbuilding than in auction IPOs? [paper] [presentation] Suman Neupane, Griffith University, Andrew Marshall, Krishna Paudyal and Chandra Thapa, University of Strathclyde Discussant: Renuka Sane, Indian Statistical Institute, Delhi [presentation]
10:40 - 11:20	Stock market participation in the aftermath of an accounting scandal [presentation] Renuka Sane, Indian Statistical Institute, Delhi Discussant: Vijaya Bhaskar Marisetty, BITS Pilani-Hyderabad and RMIT University [presentation]
11:20 - 11:35	Break
Session XII	Firm Financing
11:35 - 12:15	Alternative Legal Institutions, Xinfang, and Finance [paper] [presentation] Jiafu An, Jo Danbolt and Wenxuan Hou, The University of Edinburgh Business School Discussant: Praveen Chakravarty, IDFC Institute
12:15 - 12:55	Can Political Connections Help Nation Building in Emerging Markets? Evidence from Public-Private Partnerships in China and India [paper] [presentation] Hong Nhung Dao and Vijaya Bhaskar Marisetty, BITS Pilani-Hyderabad and RMIT University Discussant: Kaushik Krishnan, Univ. of California, Berkeley [presentation]
12:55 - 14:00	Lunch and Keynote Ajay Shah, National Institute for Public Policy and Finance [presentation]
14:00 - 15:00	Commodity Derivatives Panel
Discussants:	Bhargavi Zaveri, Finance Research Group, IGIDR [presentation] Mrugank Paranjape, Multi Commodities exchange Ajay Shah, National Institute of Public Finance and Policy Samir Shah, National Commodities Derivatives Exchange
15:00 - 15:15	Break
Session XIII	Corporate Governance
15:15 - 15:55	Does accountability deter individuals from serving as independent directors? Evidence from a corporate governance reform in India [paper] [presentation] S. Lakshmi Naaraayanan and Kasper Meisner Nielsen, Hong Kong University of Science and Technology Discussant: Poonam Mehra, National Institute of Industrial Engineering
15:55 - 16:35	Political Turnover, Ownership, and Corporate Investment [paper] [presentation] Jerry Cao and Tiecheng Leng, Sun Yat-sen University, Brandon Julio, University of Oregaon and Sili Zhou, Singapore Management University Discussant: Subrata Sarkar, IGIDR [presentation]
16:35 - 17:00	Closing address and announcements

7th Emerging Markets Finance Conference, 2016

(In collaboration with Vanderbilt Law School)

Previous conferences

Programme Committee

13th December 2016

14th December 2016

15th December 2016

16th December 2016

17th December 2016

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7^th Emerging Markets Finance Conference, 2016

13^th December 2016

14^th December 2016

15^th December 2016

16^th December 2016

17^th December 2016