9th Emerging Markets Finance Conference, 2018

(In collaboration with Vanderbilt Law School)


13th - 15th December 2018
The Trident, BKC, Bombay


Programme Committee

  • Pab Jotikasthira, Cox Business School
  • Vikramaditya S. Khanna, University of Michigan Law School
  • Subrata Sarkar, IGIDR
  • Ajay Shah, National Institute of Public Finance and Policy
  • Ram Thirumalai, Indian School of Business
  • Susan Thomas, IGIDR
  • Pradeep Yadav, University of Oklahoma, Business School
  • Yesha Yadav, Vanderbilt Law School

13th December 2018

08:30-09:00 Registration and tea/coffee
09:00-10:30
Opening session: Achieving High N2: The Benefits and challenges of trading with strangers
Talk by: Larry Harris, University of Southern California [presentation]
    Introduction by Susan Thomas, IGIDR, FRG
Panel: Enabling trading in anonymous markets
Pradeep Yadav, University of Oklahoma
Mrugank Paranjape, Multi-commodity Exchange
Vijay Kumar, NCDEX
Kshama Fernandes, Northern Arc
10:30-11:40 Session I: Financial crisis
The morning after: the impact on collateral supply of a major market default
Dermot Turing, Consultant, Clifford Chance and Manmohan Singh, Senior Economist
    Discussant: Ajay Shah, NIPFP
The Myth of Risk Free Markets [paper] [presentation]
Yesha Yadav, Vanderbilt Law School
    Discussant: Neeraj Gambhir, Independent
11:40-11:55 Coffee and tea break
11:55-13:05 Session II: Bankruptcy
Bankruptcy on the Side [paper] [presentation]
Anthony Casey, University of Chicago Law School, Kenneth Ayotte, University of California and David Skeel, University of Pennsylvania
     Discussant: Pratik Datta, NIPFP [presentation]
Do Economic Conditions Drive DIP Lending?: Evidence from the Financial Crisis [paper] [presentation]
Fred Tung, Boston University
    Discussant: Manish Singh, IGIDR, FRG [presentation]
13:05-14:05 Lunch talk: Innovation and Institutions: India vs China
by Kose John, Leonard N. Stern School of Business [presentation]
    Introduction by Susan Thomas, IGIDR, FRG
14:05-15:35
Panel:
The Indian bankruptcy reform
Joshua Felman, J. H. Consulting
Kose John, Leonard N. Stern School of Business
Hemant Sahai, HSA
Renuka Sane, NIPFP
Susan Thomas, IGIDR, FRG (Moderator)
15:35-15:50 Coffee and tea break
15:50-17:00 Session III: Empirical Corporate Finance
A new order of financing investments: Evidence from acquisitions by India's listed firms [paper] [presentation]
Varun Jindal, IIM, Calcutta and Rama Seth, Copenhagen Business School
    Discussant: Vimal Balasubramaniam, University of Warwick [presentation]
Margin trading and corporate investments: Evidence from a quasi-natural experiment in China [paper] [presentation]
G. Nathan Dong, Columbia University, Ming Gu, Xiamen University, Weiwei Huang, Renmin University of China and K. C. John Wei, Hongkong Polytechnic University
    Discussant: Sean Foley, University of Sydney [presentation]

14th December 2018

09:30-10:40 Session IV: Household Finance
Policy uncertainty and household stock market participation [paper] [presentation]
Vikas Agarwal, Hadiye Aslan, Lixin Huang and Honglin Ren, Georgia State University
    Discussant: Renuka Sane, NIPFP [presentation]
Efficacy of loan waiver programs [paper] [presentation]
Tanika Chakraborty, IIM, Calcutta and Aarti Gupta, IIT, Kanpur
    Discussant: Rajendra Vaidya, IGIDR [presentation]
10:40-10:55 Coffee and tea break
10:55-12:05 Session V: Legal thinking in corporate governance
The Shifting Tides of Merger Litigation [paper] [presentation]
Mathew Cain, U.S. Securities and Exchange Commission, Jill Fisch, University of Pennsylvania Law School, Steven Davidoff Solomon, UC Brekeley School of Law and Randall Thomas, Vanderbilt law School
    Discussant: Pratik Datta, NIPFP
Corporate Culture and Corporate Governance [paper] [presentation]
Jennifer Hill, University of Sydney
    Discussant: Anjali Sharma, IGIDR, FRG
12:05-13:35 Lunch talk : Big Data and the Government: Implications for Individuals and Businesses [paper] [presentation]
by Chris Slobogin, Vanderbilt Law School
    Introduction by Smriti Parsheera, NIPFP
13:35-15:05
Panel:
The Indian twin balance sheet crisis
Joshua Felman, J. H. Consulting
Neeraj Gambhir, Independent
Ajay Shah, NIPFP
Harsh Vardhan, Bain Consulting (Moderator)
15:05-15:15 Coffee and tea break
15:15-15:50 Session VI: Making courts work
The Indian Securities Fraud Class Action: Is Class Arbitration the Answer? [paper] [presentation]
Brian Fitzpatrick , Vanderbilt Law School
    Discussant: Bhargavi Zaveri, IGIDR, FRG [presentation]
18:00-21:00



Dinner talk: Enforcing Securities Regulation
by The Honorable Judge Kent Jordan, United State Court of Appeals for the Third Circuit
    Introduction by Yesha Yadav, Vanderbilt Law School
Panel: Issues in enforcement of regulations
Vikramaditya Khanna, University of Michigan Law School
Sandeep Parekh, Finsec Law Advisors
Justice (Retd) B. N. Srikrishna, Supreme Court of India
Bhargavi Zaveri, IGIDR, FRG (Moderator)

15th December 2018

09:30-11:15 Session VII: Asset pricing
Global market inefficiencies
S. M. Bartram , University of Warwick and Mark Grinblatt, UCLA Anderson School of Management
    Discussant: Joshua Felman, J. H. Consulting
Variation in liquidity and costly arbitrage [paper] [presentation]
Badrinath Kottimukkalur, George Washington University
    Discussant: Fang Qiao, Tsinghua University [presentation]
Variance risk premiums in emerging markets [paper] [presentation]
Fang Qiao, Tsinghua University, Lia Xu, Syracuse University, Xiaoyan Zhang and Hao Zhou, Tsinghua University
    Discussant: Badrinath Kottimukkalur, George Washington University [presentation]
11:15-11:30 Coffee and tea break
11:30-12:40 Session VIII: Microstructure
Dealer spreads in the corporate bond marker: Agent vs. market-making roles
Pradeep Yadav University of Oklahoma
    Discussant: Venkatesh Panchapagesan, IIM, Bangalore
The impact of tick sizes on trade behaviour: evidence from Cryptocurrency exchanges [paper] [presentation]
Anne H. Dyhrberg, Sean Foley and Jiri Svec, University of Sydney
    Discussant: Nidhi Aggarwal, IIM, Udaipur [presentation]
12:40-13:40 Lunch talk: Kicking the Can Down the Road: Government Interventions in the (European) Banking Sector
by Viral Acharya, RBI
    Introduction by Pradeep Yadav University of Oklahoma
13:40-15:10
Building the BCD nexus: Bombay/GIFT/London
    Introduction by Anjali Sharma, IGIDR, FRG
Panel: Ajay Shah, NIPFP
Sanjiv Shah, Entrepreneur
Harsh Vardhan, Bain Consulting
Bijoor Venkatesh, Almus Consulting
15:10-15:25 Coffee and tea break
15:25-16:35
Presentation:
Session IX: Audit
Findings and Recommendations on Regulating Audit Firms and the Networks,
by Pratik Datta [presentation]
Panel: Rajendra Chitale, M.P.Chitale & Company
Sanjay Kallapur, ISB, Hyderabad
Rahul Kapani, True North
16:35-16:50 Closing remarks

Note: Confirmed speakers at the conference are marked in boldface.

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