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2019/12/18
Buy-Side Competition and Momentum Profits
Finance Seminar（2019-34)Topic:?Buy-Side Competition and Momentum ProfitsSpeaker:?Nagpurnanand Prabhala,The Johns Hopkins Carey Business SchoolTime:?Wednesday, 18 December, 10:00-11:30Location:?Room 217, Guanghua Building 2Abstract:We show that a new measure of buy-side competition explains momentum profits. The monthly momentum spread is 1.39% when competition is low and negligible when compet...
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2019/12/16
Liquid Speed: On-Demand Fast Trading at Distributed Exchanges
Finance Seminar（2019-33)Topic:?Liquid Speed: On-Demand Fast Trading at Distributed ExchangesSpeaker:?Marius Zoican,University of TorontoTime:?Monday, 16 December, 13:30-15:00Location:?Room 217, Guanghua Building 2Abstract:Exchanges acquire excess processing capacity to accommodate trading activity surges associated with zero-sum high-frequency trader (HFT) "duels." The idle capacity's opportun...
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2019/12/03
Robust Binary Voting
Economics Seminar（2019-20）Topic:?Robust Binary VotingSpeaker:?Qinggong Wu, Hong Kong University of Science and TechnologyTime:?Tuesday,Dec.3, 13:30-15:00?Location:?Room 217, Guanghua Building 2?Abstract:In this paper, we study a new robustness concept in mechanism design with interdependent values: interim dominant strategy incentive compatibility (IDSIC). It requires each agent to have an in...
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2019/11/27
Rent extraction by super-priority lenders
Finance Seminar（2019-32)Topic:?Rent extraction by super-priority lendersSpeaker:?Wei Wang,Smith School of Business, Queen's UniversityTime:?Wednesday, 27 November, 10:00-11:30Location:?Room 217, Guanghua Building 2Abstract:We present striking evidence of supra-competitive pricing of debtor-in-possession (DIP) loans obtained by large firms filing for Chapter 11 bankruptcy. Fully collateralized ...
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2019/11/15
Leveraging Overconfidence
Finance Seminar（2019-31)Topic: Leveraging OverconfidenceSpeaker: Brad M. Barber,Graduate School of Management, UC DavisTime: Friday, 15 November, 12:15-13:45Location: Room K05, Guanghua Building 2Organizers: Department of Finance, Center for Finance and Development, PKUAbstract:In theory, overconfident investors with a budget constraint use leverage more, trade more, and perform worse than wel...
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2019/11/06
Attention, Uncertainty Reduction and Pre-announcement Premium in China
Finance Seminar（2019-30) Speaker: Dun Jia, Renmin University of China
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2019/06/26
Mutual Fund Market Timing: Daily Evidence
Finance Seminar（2019-20) Speaker:?Ke Wu, Renmin University of China
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2019/03/25
第七届中国贫困地区可持续生长战略论坛 征文启示
北京大学贫困地区生长研究院与湖南省益阳市人民政府联合举行第七届中国贫困地区可持续生长战略论坛。 。。。。。论坛约请各大学、研究机构学者专家以及中央与地方政府有关部分的决议者加入 ，，，，，，共聚一堂 ，，，，，，配合推进我国贫困地区生长的理论和政策研究事情。 。。。。。本次论坛以党的十九大精神为指导目的,中心宗旨是面向周全实现小康的生长目的 ，，，，，，对贫困地区在扶贫攻坚、墟落振兴特殊是扶贫攻坚与墟落振兴有用衔接等方面的履历举行总结和剖析 ，，，，，，增进我国扶贫...
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2019/10/23
Incentive schemes, framing, and market behaviour: evidence from an asset-market experiment
?Accounting Seminar (2019-13)Topic: Incentive schemes, framing, and market behaviour: evidence from an asset-market experimentSpeaker: Xuegang Cui,Professor,Business School, Beijing Normal UniversityTime: Wednesday, 23 Oct, 10:00-11:30Location: Room K02, Guanghua Building 2Abstract:We investigate how asset prices and trading behaviour are impacted by the structure and framing of incentives, us...
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2019/05/28
Information Structure and Price Competition (joint with Mark Armstrong)
Economics Seminar（2019-07）Topic:?Information Structure and Price Competition (joint with Mark Armstrong)Speaker:?Jidong Zhou,Yale School of ManagementTime:?Tuesday,28thMay, 13:30-15:00Location:?Room 217, Guanghua Building 2Abstract:This paper studies how product information possessed by consumers (e.g. from product reviews, platform recommendations, etc.) affects competition between firms. We...
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