2022 Summer Institute of Finance (SIF) Held

2022-08-12

On July 11th – 12th, 2022, the 12th Summer Institute of Finance (SIF) was successfully held. SIF was organized by the Shanghai Advanced Institute of Finance (SAIF) and the China Academy of Financial Research (CAFR) at Shanghai Jiao Tong University (SJTU). Due to the COVID-19 pandemic, the SIF conference was held online. During the conference, more than 70 scholars, professors, and researchers from top universities and financial institutions from around the world discussed cutting-edge topics in current financial research.

Professor Hong Yan (Professor of Finance, Deputy Dean for faculty and research at SAIF) chaired the SIF, and Professor Nengjiu Ju (Professor of Finance, Academic Director of the Ph.D. Program at SAIF) was Chairman of the Paper Review Committee. Other SIF participants included:

  • Professor Yurong Hong (Assistant Professor of Finance at SAIF),
  • Professor Jun Li (Assistant Professor of Finance at SAIF),
  • Professor Jun Pan (SAIF Chair Professor),
  • Professor Hui Chen (Special-Term Professor of Finance at SAIF, Nomura Professor of Finance at the MIT Sloan School of Management),
  • Professor Kewei Hou (Special-Term Professor at SAIF, Ric Dillon Chair Professor in Investment at Ohio State University),
  • Professor Liyan Yang (Visiting Research Professor of SAIF, Peter L. Mitchelson/SIT Investment Chair Professor at Rotman School of Management, University of Toronto), and
  • Professor Huibing Zhang (Special-Term Professor at SAIF, Professor of Finance, University of Texas).

 

This year's SIF received a large number of submissions, with a total of 635 valid academic papers from all over the world, of which 12 papers were finally selected by the Paper Review Committee. These 12 papers were presented in six academic sessions, focusing on themes of:

  • “Corporate Decision Making under Constraints”,
  • “Pricing Polar Assets on the Risk Spectrum”,
  • “Peer Effects: Conflicting vs Complementing”,
  • “Anomalous Asset Pricing”,
  • “Individual Decision Making under Fintech Adoptions”, and
  • “Debt Financing Structure: Lenders vs Instruments”.

 

During the conference, professors and Ph.D. students from various universities in China (and beyond) read or reviewed the papers, and 12 scholars shared their latest research findings. Their research issues included:

  • “The Shadow Cost of Collateral”;
  • “How Does Declining Worker Power Affect Investment Sensitivity to Minimum Wage?”;
  • “Value Premium, Network Adoption, and Factor Pricing of Crypto Assets”;
  • “The Convenience Yield, Inflation Expectations, and Public Debt Growth”;
  • “Social Ties and Peer Effects in Crowdfunding Markets”;
  • “Conflicts in Private Family Firms”;
  • “Closing Pressure, Predatory Trading, and the Negative Oil Price”;
  • “Extrapolation and Risk-Return Trade-offs”;
  • “Mind the App: Mobile Access to Financial Information and Consumer Behavior”;
  • “FinTech Adoption and Household Risk-Taking”;
  • “The Cost of Intermediary Market Power for Distressed Borrowers”; and
  • “Monetary Policy, Debt Structure and Credit Reallocation”.

 

At the conference, each paper was reviewed by an individual scholar. Each made pertinent suggestions and comments on research content, ideas, and methodologies. In addition, there was a Q&A session in which scholars and professors made comments and discussed issues with the paper presenters and reviewers. The open and professional academic atmosphere at SIF was inspiring and beneficial for scholars hoping to optimize their current research.