HKU-TLV Finance Forum 2023

Conference Program



Day 1 – May 18, 2023

08:30-08:45 | Welcome and opening remarks

08:45-10:25 | Session 1 - Chair: Maria-Teresa Marchica, Manchester Business School



Tse-Chun Lin (The University of Hong Kong), Alex Imas, Yan Luo and Xiaohuan Wang

10:25-10:50 | Coffee Break

10:50-12:30 | Session 2 - Chair: Alberto Manconi, Bocconi University


Making sure your vote does not count: ESG activism, pseudo-green shareholders, and insincere proxy voting

Dunhong Jin (The University of Hong Kong) and Thomas Noe


Nickolay Gantchev (University of Warwick), Mariassunta Giannetti and Rachel Li

12:30-13:30 | Lunch Break

13:30-15:00 | Session 3 - Chair: Alon Brav, Duke University


Becoming Virtuous? Mutual funds’ reactions to ESG scandals

Fatima Zahra Filali Adib (Copenhagen Business School), Bastian Von Beschwitz and Daniel Schmidt


Managing Resource (Mis-)Allocation

Xavier Giroud (Columbia University)


Undisclosed Material Inflation Risk

Yaniv Konchitchki (University of California, Berkeley) and Jin Xie


Macroprudential Regulation and Systemic Risk

Simon Rother (Copenhagen Business School)


National Sentiment and Foreign Investors: Evidence from Shareholder Activism

Yujing Ma (Hong Kong Polytechnic University)


The Voting Behavior of Women-Led Mutual Funds

Alberta Di Giuli (ESCP Business School), Alexandre Garel and Arthur Petit Romec

15:00-15:25 | Coffee Break

15:25-17:55 | Session 4 - Chair: Pingyang Gao, Hong Kong University


Biodiversity Finance

Caroline Flammer (Columbia University), Thomas Giroux and Geoffrey M. Heal


Philipp Krueger (The University of Geneva), Vaska Atta-Darkua, Simon Glossner and
Pedro Matos

19:00 | Dinner

Dinner at Beit Kandinof – A unique art and culinary venue in the old city of Jaffa. A transfer directly from the Hub will be available.

Day 2 – May 19, 2023

09:00-10:40 | Session 5 - Chair: Ekaterina Neretina, USC


Sumit Agarwal (National University of Singapore), Wenlan Qian, Tianyue Ruan and
Bernard Yin Yeung


How Shifting from In-Person to Virtual-Only Shareholder Meetings Affects Shareholders’ Voice

Miriam Schwartz (The Hebrew University of Jerusalem)

10:40-11:10 | Coffee Break

11:10-12:40 | Session 6 - Chair: Shai Bernstein, Harvard Business School


Does Market Efficiency Imply Capital Allocation Efficiency? The Case of Decentralized Exchanges

Evgeny Lyandres (Tel Aviv University)


How does Green Energy affect Electricity Prices?

Thomas Schmid (The University of Hong Kong)


What Is the Impact of Mutual Funds' ESG Preferences on Portfolio Firms?

Maxime Couvert (The University of Hong Kong)


Does Abstract Thinking Facilitate Information Processing? Evidence from Financial Analysts

Gloria Yu (Singapore Management University), Frank Weikai Li and Rong Wang


Baumol's cost disease and the distributional impact of sectoral shocks

Nittai Bergman (Tel Aviv University), Nir Jaimovich and Itay Saporta-Eksten


The Coherence Side of Rationality: Rules of Thumb, Narrow Bracketing, and Managerial Incoherence in Corporate Forecasts

Stefano Rossi (Bocconi University) and Pamela Giustinelli

12:40-13:40 | Lunch Break

13:40-15:20 | Session 7 - Chair: Gennaro Bernile, University of Miami


Fee the People: Retail Investor Behavior and Trading Commission Fees

Shimon Kogan (Reichman University), Omri Even-Tov, Kimberlyn George and Eric So


Learning when to quit: a randomized experiment with innovation driven entrepreneurs

Yael Hochberg (Rice University), Esther Bailey, Daniel Fehder, Eric Floyd and Daniel Lee

19:30 | Dinner

Dinner at Roni Michaely’s home (Spouses and kids are welcome; 6 Hayasmin St., Herzliya). Independent arrival.