5th Emerging Markets Finance Conference, 2014


18th - 20th December 2014
Venue: Sofitel, BKC, Bombay

Programme committee:

  • N. Prabhala, CAFRAL
  • Tarun Ramadorai, Said Business School
  • Subrata Sarkar, IGIDR
  • Ajay Shah, NIPFP
  • Avanidhar Subrahmanyam, UCLA
  • Ram Thirumalai, ISB
  • Susan Thomas, FRG IGIDR
  • Pradeep Yadav, University of Oklahoma


17th December 2014



19:00 - 22:00 Registration and speakers dinner

18th December 2014



8:00 - 09:00 Registration, coffee and tea
9:00 - 9:30 Inaugural address: U.K.Sinha, SEBI [video]
9:30 - 10:30 Panel I: International competitiveness
Presentation: Susan Thomas, FRG IGIDR [presentation]
Panel:
Kshama Fernandes, IFMR Capital
Ramesh Ramanathan, IFC
Sanjiv Shah, Goldman Sachs
Pankaj Vaish, Citibank
10:30 - 10:45 Break
Session I
Chairperson: Ajay Shah, NIPFP
10:45 - 11:30 Local finance and local growth: macro and micro evidence from China [paper] [presentation] [video]
Chunyang Wang, HSBC Business School, Peking University, and Ziji Huang, People's Bank of China
        Discussant: Prachi Mishra, Reserve Bank of India [presentation]
11:30 - 12:15 The effects of luck on investment behaviour: Evidence from randomised allocation in Indian IPOs [presentation]
Santosh Anagol, Wharton, Tarun Ramadorai and Vimal Balasubramaniam, Said Business School and Oxford-Man Institute of Quantitative Finance
        Discussant: Susan Thomas, FRG IGIDR [presentation]
12:15 - 13:00 Transmission of Fed Announcements to Emerging Economies: What Determines Market Reactions? [paper] [presentation] [video]
Prachi Mishra, Reserve Bank of India, Papa N'Diaye, and Lam Nguyen, IMF
        Discussant: Rajeswari Sengupta, IGIDR [presentation]
13:00 - 14:00 Lunch
14:00 - 15:00 Panel II: Commodity futures
Presentation: Susan Thomas, FRG IGIDR [presentation]
Panel:
Vineet Bhatnagar, Phillips Capital
Rishi Nathany, NCDEX
Ravi Shevade, NCDEX Spot
15:00 - 15:15 Break
Session II
                                                              
15:15 - 16:00 Incentivising impact investing [paper] [presentation] [video]
Bhagwan Chowdhry, UCLA, Shaun William Davies, University of Colorado and Brian Waters, UCLA
        Discussant: Reuben Abraham, IDFC Institute

16:00 - 16:45 More efficient event studies [presentation] [video]
Ajay Shah, NIPFP
        Discussant: J. R. Varma, IIM Ahmedabad [presentation]

19th December 2014



8:30 - 9:00 Coffee and Tea
Session III
Chairperson: Venky Panchapagesan, IIM Bangalore
9:00 - 9:45 The imprecision of volatility indexes [paper] [presentation] [video]
Rohini Grover, FRG IGIDR and Ajay Shah, NIPFP
        Discussant: J. R. Varma, IIM Ahmedabad [presentation]
9:45 - 10:30 Systemic Microstructure Risks of High Speed Trading [paper] [presentation] [video]
Pankaj Jain, Securities and Exchange Commission, Pawan Jain, Central Michigan University and Thomas McInish, The University of Memphis
        Discussant: Nidhi Aggarwal, FRG IGIDR [presentation]
10:30 - 11:15 Break
11:15 - 12:00 Liquidity Provision, Information, and Inventory Management in Limit Order Markets: An Analysis of Order Revisions [paper] [video]
Vikas Raman, University of Warwick and Pradeep Yadav, University of Okhlahoma
        Discussant: Rajat Tayal, Deutsche Bank [presentation]
12:00 - 12:45 Do regulatory hurdles work on algorithmic trading? [video]
Nidhi Aggarwal, FRG IGIDR, Sugato Chakravarty, Purdue University, Venkatesh Panchapagesan, IIM Bangalore, and Susan Thomas, FRG IGIDR
        Discussant: Pradeep Yadav, University of Okhlahoma
12:45 - 14:00 Lunch
14:00 - 15:00 Panel III: Understanding high frequency trading
Presentation: Chirag Anand, FRG IGIDR [presentation]
Panel:
Farid Moslehi, Getco
Venky Panchapagesan, IIM, Bangalore
Pradeep Yadav, University of Oklahoma
S. Ramann, CAG
15:00 - 15:15 Break
Session IV
15:15 - 16:00 Liquidity in the Large: Evidence From an Exogenous Supply Shock [paper] [presentation] [video]
Ankit Jain, Prasanna Tantri and Ramabhadran Thirumalai, Indian School of Business
        Discussant: Pawan Jain, Central Michigan University [presentation]
16:00 - 16:45 The propagation of shocks across international equity markets: A microstructure Perspective [paper] [presentation] [video]
Dion Bongaerts, Dominik Rosch, Mathjis van Dijik and Darya Yuferova, Eramus Research Institute and Richard Roll, California Institute of Technology
        Discussant: Ramabhadran Thirumalai, Indian School of Business [presentation]
18:30 Dinner

20th December 2014



9:00 - 9:30 Coffee and tea
Session V
Chairperson: Susan Thomas, FRG IGIDR
9:30 - 10:15 When do controlling shareholders expropriate? Evidence from market valuation of cash and intra-group loans in China [paper] [presentation] [video]
Yan-Leung Cheung, Hong Kong Institute of Education, P Raghvendra Rau, University of Cambridge, Aris Stouraitis and Weiqiang Tan, Hong kong Baptist University
        Discussant: Rik Sen, HKUST and University of Miami [presentation]
10:15 - 11:00 Whence the privatised firm dividend premium? [paper] [presentation] [video]
Abhinav Goyal, University of Liverpool, Shrikant Jategaonkar, Southern Illinois University, Edwardsville, William Megginson, King Fahd University of Petroleum and Minerals and Cal Muckley, University College, Dublin
        Discussant: Poonam Mehra, NITIE [presentation]
11:00 - 11:15 Break
11:15 - 12:00 How much can asset portfolios of rural households benefit from formal financial services? [paper] [presentation] [video]
Vishnu Prasad, Anand Sahasranaman, Santadarshan Sadhu and Rachit Khaitan, IFMR Foundation
        Discussant: Vimal Balasubramaniam, Said Business School and Oxford-Man Institute of Quantitative Finance [presentation]
12:00 - 14:00 Lunch Talk:
K. P. Krishnan, Dept. of Land Resources [video]
14:00 - 15:00 Panel IV: Bankruptcy reforms for India
Presentation: Anjali Sharma, FRG IGIDR [presentation]
Panel:
Bhagwan Chowdhry, UCLA
Jayesh H., Juris Corp
Venky Panchapagesan, IIM Bangalore
Aparna Ravi, Centre for law and policy research
Bahram Vakil, AZB
15:00 - 15:15 Break
Session VI
15:15 - 16:00 Micropensions: Helping the poor save for old age [presentation] [video]
Olivia Mitchell and Anita Mukherjee, Wisconsin School of Business
        Discussant: Renuka Sane, ISI Delhi [presentation]
16:00 - 16:45 Repayment in microfinance: The role of financial literacy and caste [paper] [presentation] [video]
Renuka Sane, ISI Delhi and Rashmi Barua, JNU and ISI Delhi
        Discussant: R. Shankar, IFMR Business School [presentation]
16:45 - 17:00 Closing address and announcements

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