2011 TCFA Best Paper Awards

October 1, 2011

The Chinese Finance Association is pleased to announce the following winners of its 2011 TCFA Best Paper Awards:

Best Paper on Global Financial Markets

"The seeds of a crisis: a theory of bank liquidity," by Viral Acharya (New York University) and Hassan Naqvi (National University of Singapore)

"Differential access to price information in financial markets," by David Easley (Cornell University), Maureen O’Hara (Cornell University), and Liyan Yang (University of Toronto)

"On externalities and incentives: the role of the market power and organizational form of financial intermediaries," by Kose John (New York University) and David Ross (Columbia University)

"Dynamics of entrepreneurship under incomplete markets," by Chong Wang (Naval Postgraduate School), Neng Wang (Columbia University), and Jinqiang Yang (Shanghai University of Finance and Economics and Columbia University)

Best Paper on Chinese Capital Markets

"Lack of comovement and property rights protection: firm-level evidence," by Pengjie Gao (University of Notre Dame) and Yongxiang Wang (University of Southern California)

"The Role of foreign investors in stock liquidity around the world," by Lilian Ng (University of Wisconsin-Milwaukee), Fei Wu (Jiangxi University of Finance and Economics), Jing Yu (University of Western Australia), and Bohui Zhang (University of New South Wales)

"Does informal finance help formal finance? Evidence from 3rd party loan guarantees in China," by Susan Shan and Dragon Tang (University of Hong Kong)

Best Paper on Chinese Capital Market (written in Chinese)

"农村中小企业信用评估的模型构建与实证检验," 刘莉亚 (上海财经大学), 胡乃红 (上海财经大学), 马晓青 (上海电力学院), 王静 (上海财经大学);

"系统性定价偏误：中国A 股盈余公告后的价格漂移研究," 陆婷 (中国人民银行金融研究所).

Awards and award winning papers will be presented at the Second Annual TCFA Best Paper Symposium to be held at the Le Parker Meridien Hotel in New York City on Saturday, October 29, 2011.

The symposium will also feature a keynote speech by Franklin Allen, the Nippon Life Professor of Finance and Economics at the Wharton School, and a panel discussion on “Academic Research and Careers in Finance in China.” Confirmed panelists include Professors Franklin Allen (Wharton School), Henry Cao (Cheung Kong Graduate School of Business), Kose John (New York University), and Neng Wang (Columbia University).

We congratulate all winners and thank them for their high-quality research in global and Chinese financial markets. We would also like to thank the program committee for their hard work in reviewing a record number of high quality submissions, and thank all the authors who submitted their papers to the symposium this year. Finally, we gratefully acknowledge the continuing support from the sponsor of the TCFA Best Paper Awards.

Agenda Download:

TCFA Best Paper Symposium Organization Committee:

Jingzhi Huang (Chair) Penn State University

Jun Qian (Co-Chair) Boston College

Chenyang Wei (Co-Chair) Federal Reserve Bank of Philadelphia

An Yan (Co-Chair) Fordham University

Wuxiang Zhu (Co-Chair) Tsinghua University

TCFA Best Paper Program Committee:

Yingmei Cheng Florida State University

Ping He Tsinghua University

Jingzhi Huang Penn State University

Lin Ping Baruch College-CUNY

Jun Qian Boston College

Yiming Qian University of Iowa

Tie Su University of Miami

Ashley Wang Board of Governors of the Federal Reserve System

Jun Wang Baruch College-CUNY

Tan Wang University of British Columbia

Chenyang Wei Federal Reserve Bank of Philadelphia

An Yan Fordham University

Tong Yu University of Rhode Island

Xiaoyun Yu Indiana University

Yi Zhang Peking University

Guofu Zhou Washington University-St. Louis

Ning Zhu Shanghai Advanced Institute for Finance