"The Financial Crisis and its Impact on Asia "Joint Workshop 2009

Background

The School of Management at FudanUniversity and the AustralianSchool of Business at The University of New South Wales, in accordance with the principle of equality and mutual benefit and through friendly negotiation, agreed to establish a collaborative arrangement for the purpose of developing effective research collaborations. This is the first of a proposed series of annual joint workshops focused on relevant Management or Economic themes, planned for presentation at Fudan or UNSW. The joint workshops will be designed to appeal to a wide audience of practitioners, government and academic participants. This inaugural workshop has been generously funded by grants from UNSW and FudanUniversity.

The AustralianSchool of Business at University of New South Wales

The AustralianSchool of Business is Australia’s leading business school. Based in Sydney, the School offers a complete range of business degree programs at the undergraduate, postgraduate (including MBA) and executive education levels. The School is committed to the pursuit of excellence in business education and research. The School has very strong links with the international research community and in recent years has placed increasing emphasis on engagement with Asia.  For more information, see http://www.business.unsw.edu.au. 

School of Management at FudanUniversity

The School of Management at FudanUniversity is one of the most influential business schools in China. It has developed a strong faculty with a wide range of expertise, strong academic credentials, and rich teaching experience. The School aims to become a world-class business school, keeping pace with China's rapid growth and emerging world importance while at the same time anticipating the challenges of the future. For more information, see www.fdsm.fudan.edu.cn.

Theme of the Workshop

Perhaps the most pressing issue facing industry, government, and academics alike is the global financial crisis. It is distinguished from past financial turbulence in being genuinely global in its spread, well beyond the mature economies of North America and Europe. Growth in the Asian region, for the last decade or more the world’s most dynamic economic region, is threatened, and already major economies, including China, are reporting increases in unemployment and dramatic reductions in growth.

The genesis of the crisis is much debated. But of greater urgency now is to decide how to move forward. Will stimulus packages be effective?  How can the nationalistic urge towards protectionism be curtailed? How can international co-ordination be best arranged? What is the most effective means of removing toxic assets from the balance sheets of the world’s major financial institutions? 

The global financial meltdown will affect the livelihoods of almost everyone in an increasingly inter-connected world. Preparing for a post-crisis situation, experienced scholars, officials from the government, and executives from the private sector are brought together in this forum to share their insights on the implications of the global financial crisis for the Asian-Pacific region, and prospects for recovery. This joint workshop provides an overview of the crisis with insights for further, more detailed, coverage.

Workshop Program

09:00-09:15   Opening Remarks

Xiongwen LU

Professor, Dean of School of Management at FudanUniversity

09:15-10:30   Keynote address

    Chair : Qiuzhi XUE

              Professor, School of Management at FudanUniversity

    Keynote Speakers:

09:20-09:55   Dr. Xinghai FANG

Director-General, Office of Financial Services, Shanghai Municipal Government

09:55-10:30   Fariborz MOSHIRIAN

Professor, University of New South Wales

Topic: Global financial crisis and the emergence of an integrated financial market in Asia

10:30-10:45  Coffee Break

10:45-12:00  Session Ⅰ

Moderator: Neal STOUGHTON

Professor and Head of the School of Banking and Finance, University of New South Wales

10:45-11:15   Alfred LEHAR

Professor，Haskayne School of Business, University of Calgary

Topic: Interbank Hedging and Systemic Risk: The Role of Renegotiation Breakdowns

11:15-11:45   Shuhong FANG

Associate Professor, School of Management at FudanUniversity

Topic: Capital Requirement Based on Mean-Variance Frontier of Arbitrage Portfolios

11:45-12:00   Panel Discussion

12:00-13:30   Lunch

13:30-15:30   Session Ⅱ

Moderator:Pei SUN

Associate Professor, School of Management at FudanUniversity

13:30-14:15   Undetermined

14:15-14:45   Ron GIAMMARINO

Professor, University of British Columbia

Director, PHN Centre for Financial Research

Topic: “SEO’s, Real Options and Risk Dynamics: Empirical Evidence”

14:45-15:15  Dragon TANG

Assistant Professor of Finance

School of Economics and Finance，The University of Hong Kong

Topic: “What Drove the Mismatch Between Initial CDO Credit Rating and Subsequent Performance? Bad Luck, Model Error, Misleading Inputs, or Agency Conflicts”

15:15-15:30  Panel Discussion

15:30-15:45  Coffee Break

15:45-17:50   Session Ⅲ

Moderator: Fariborz MOSHIRIAN

Professor, University of New South Wales

15:45-16:15  Neal STOUGHTON

Professor and Head of the School of Banking and Finance,

University of New South Wales

Topic: Capital Allocation for Optimal Control of Risk

16:15-16:40  Zhiguo LI

Associate Professor, School of Management at FudanUniversity

Topic: The Endogenous Mechanism of China Money Supply-Evidence From Central Bank’s Balance Sheet

16:40-17:10  Ning Gong

Senior Lecturer, MelbourneBusinessSchool, University of Melbourne

Topic: Government Bailout Policy: Transparency vs. Constructive Ambiguity

17:10-17:35  Jie CHEN

Associate Professor, School of Management at FudanUniversity

Topic: Housing Investment & Economic Growth in China

17:35-17:50  Panel Discussion