Programme for the 17th New Zealand Finance Colloquium

Thursday 7th February | Friday 8th February

7th - 8th February, 2013 download programme

Thursday 7th February 2013

1:00pm - 1:55pm

Venue: Room 2.07 in the Commerce Building

2:00pm - 3:40pm

Session 1A: Capital Markets
Venue: MBA-1
Chair: Jin Zhang, University of Otago


Drained by DRIPs: The Hidden Cost of Buying on the Dividend Pay Day
Nb: Awarded best paper in Capital Markets
Henk Berkman, University of Auckland
Paul D. Koch, University of Kansas


What Explains the Initial Return of Initial Public Offerings after the 1997 Asian Financial Crisis? Evidence from Thailand
Chaiporn Vithessonthi, University of Otago


The Determinants of Trading Location of Cross-Listed Stocks.
Olga Dodd, Auckland University of Technology
Christodoulos Louca, Cyprus University of Technology
Krishna Paudyal, University of Strathclyde


On Overnight Return Premiums of International Stock Markets
Mei Qiu, Massey University
Tao Cai, Massey University

2:00pm - 3:40pm

Session 1B: Banking / Institutions Issues
Chair:Ivan Diaz-Rainey, University of Otago


Fraud and Firm Performance: Evidence from Fraud on the Market and Securities Class Action Lawsuits
Chris Malone, Massey University


New Zealand Finance Companies and Risk Premiums
Martin Lally, Victoria University of Wellington
Ved Prasad, ANZ Bank


Regulation in New Zealand Banking and Financial Services
David Tripe, Centre for Financial Services and Markets Massey University

3:40pm - 3.55pm

To Top Afternoon Tea
Venue: Room 2.07, Commerce Building

4:00pm - 5.40pm

Session 2A: Personal Finance
Venue: MBA-1
Chair: Robin Grieves, University of South Carolina


Credit Cards, Excess Debt, and the Time Value of Money: The Parable of the Debt Banana
Nb: Awarded best paper in Financial Literacy
Timothy Crack, University of Otago
Helen Roberts, University of Otago


Privatisation: The New Zealand Experiment of the 1980's. How did Mom and Pop Fare?
Andrew Cardow, Massey University
William Wilson, Massey University


How Young New Zealanders Learn About Personal Finance: A Longitudinal Study
Jeffrey Stangl, Massey University
Claire Matthews, Massey University


Prepayment option and the interest rate differential between a fixed- and floating-rate mortgage loan
Jyh-Bang Jou, National Taiwan University


Financial literacy habits and attitudes
Bob Lissington, Massey University
Claire Matthews, Massey University

4:00pm - 5:40pm

Session 2B: Corporate Finance
Venue: MBA-2
Chair: Gurmeet Bhabra, University of Otago


Is the relationship between investment and conditional cash flow volatility really ambiguous?
Michael O'Connor Keefe, Victoria University of Wellington
James Tate, Victoria University of Wellington


Director Effectiveness and Firm Performance Before and After the Adoption of the NZX Corporate Governance Best Practice Code.
Samuel Struthers, University of Otago
Helen Roberts, University of Otago


Does Corporate Governance Matter in Determining CEO Compensation in the Publicly Listed Companies in New Zealand?
Sazali Abidin, University of Waikato
Krishna Reddy, University of Waikato
Linjuan You, University of Waikato


Financial Development and the Determinants of Capital Structure in Vietnam
Dzung T. Nguyen, Academy of Finance, Vietnam
Ivan Diaz-Rainey, University of Otago
Andros Gregoriou, University of Hull


Growth, Governance and Corporate Payout Policy
Gurmeet Singh Bhabra, University of Otago

6:00pm - 7:00pm

To Top Publishers Happy Hour hosted by Cengage & Pearson
Venue: University Staff Club

7:00pm -

Colloquium Dinner hosted by SIRCA
Venue: University Staff Club

Friday 8th February 2013To Top

08:00am - 09:40am

Session 3A: Investments
Venue: MBA-1
Chair: Henk Berkman, University of Auckland


On Diversification
Nb: Awarded best paper in Investments
Ben Jacobson, Massey University
Frans de Roon, Tilburg University


Price Discovery in US-Canadian Cross-listed Shares
Bart Frijns, Auckland University of Technology
Aaron Gilbert, Auckland University of Technology
Alireza Tourani-Rad, Auckland University of Technology


Investor Sentiment and Industry Returns
Alexander Molchanov, Massey University
Jeffrey Stangl, Massey University


U.S. Bond Markets and Credit Spreads during the Great Depression
Toby Daglish, Victoria University of Wellington
Lyndon Moore, Victoria University of Wellington

08:00am -09:40am

Session 3B: Capital Markets / Asset Pricing
Venue: MBA-2
Chair: I. Premachandra


Cross-asset Return Predictability between Currency Carry Trades and Stocks
Helen Lu, University of Otago
Ben Jacobsen, Massey University


Visualization of a Stock Market Correlation Matrix
Alethea Rea, Data Analysis Australia
William Rea, University of Canterbury


CDS Spreads and Option Volatility during Crises
Jose Da Fonseca
Katrin Gottschalk , Auckland University of Technology

9:40am - 10:00am

To Top Morning Tea
Venue: Room 2.07 Commerce

10:00am - 11:20am

Session 4A: Corporate Finance / Investments
Venue: MBA-1
Chair: Helen Roberts, University of Otago


Are Bureaucrats Really Paid Like Bureaucrats?
Glenn Boyle, University of Canterbury
Scott Rademaker, Brycharl Corporation


The Average Cost of Debt for Companies with Multiple Bonds Outstanding
Robin Grieves, University of South Carolina
Mark D. Griffiths, Miami University


How do Knock-out Options Affect Irreversible Investment Decisions and the Design of an Efficient Investment Tax Credit ?
Nb: Awarded best paper in Financial Regulation
Tan (Charlene) Lee, University of Auckland
Nb: Presented by Jyh-Bang Jou, National Taiwan University


Investor Sentiment Risk and Asset Pricing Anomalies
Jerry C. Ho, Massey University
Chi-Hsiou Hung, University of Dundee


Assessing indirect bankruptcy costs on New Zealand listed firms
Nirosha Hewa-Wellalalage, University of Waikato

10:00am -11:40am

Session 4B: Asset Pricing / Investments
Venue: MBA-2
Chair: Ben Jacobsen, Massey University


Expected Stock Returns and Forward Variance
Xingguo Luo, Zhejiang University
Jin Zhang, University of Otago


Time-Series Momentum versus Technical Analysis
Ben R. Marshall, Massey University
Nhut H. Nguyen, University of Auckland
Nuttawat Visaltanachoti , Massey University


Mildly Explosive Stocks
Paul Geertsema, University of Otago

11:30am - 12:00pm

"Town-Gown" Interactions: Presentation by Jim McElwain (INFINZ)
Venue: MBA-1

12:00pm - 12:15pm

Colloquium Prize Giving
Venue: MBA-1

12:15pm - 12:30pm

Concluding Remarks
Colin Campbell-Hunt, Head, Department of Accountancy and Finance, Otago

Venue: MBA-1

12:30pm -

To Top Colloquium Lunch
Venue: Room 2.07, Commerce Building