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CALL FOR PAPERS
CONFERENCE ON FINANCIAL MARKET MISCONDUCT
Sponsored by
CFA INSTITUTE
JOURNAL OF CORPORATE FINANCE
SCHULICH SCHOOL OF BUSINESS, YORK UNIVETRSITY
Dates: April 3-4, 2014
Toronto, Canada
Two Best Paper Prizes:
$2,000 Best Paper Prize
$2,000 Best PhD Student Paper
KEYNOTE SPEAKER:
- Franklin Allen, Nippon Life Professor of Finance, Wharton School, University of Pennsylvania
ORGANIZERS:
- Douglas Cumming, Schulich School of Business, York University
- Bob Dannhauser, CFA Institute
- Stuart Gillan, Terry College of Business, University of Georgia
- Sofia Johan, Schulich School of Business, York University
- Jeffry Netter, Terry College of Business, University of Georgia
RATIONALE:
Financial market misconduct erodes investors trust, and in turn influences stock market liquidity and performance, and exacerbates volatility. Financial market misconduct includes but is not limited to fraud. Despite the widespread media attention on market misconduct, the causes and consequences of market misconduct are often misunderstood and under researched around the world. The evolving structure of markets gives rise to new work on topic
This international conference will provide a timely debate on financial market misconduct. The conference also encourages, but does not require, submission to the Journal of Corporate Finance. Papers submitted to the Journal of Corporate Finance would go through the normal review process.
RESEARCH QUESTIONS:
Some research questions that contributors to the conference might address are:
- Is market misconduct more common in different countries or across different exchanges? If so, what types (earnings management, insider trading, market manipulation, dissemination of false and misleading information, other)?
- What are the causes of international differences in expected or detected misconduct?
- What are the consequences of market misconduct, and do they differ across countries or exchanges?
- Can regulation be designed to improve ethical standards and corporate governance?
- Does high frequency trading mitigate or exacerbate market misconduct?
- Does crowdfunding facilitate potential financial market misconduct, and how might such potential misconduct be mitigated through regulation?
- Do intermediaries such as lawyers, auditors, and investment bankers mitigate or exacerbate financial market misconduct?
- Is financial market misconduct exacerbated or mitigated under different types of ownership, such as government, institutional, or family ownership?
- How is market misconduct related to activist investors such as venture capital, private equity, and hedge fund investors?
- How is fraud risk and ethics priced in markets?
- How does the risk of market misconduct affect corporate valuation?
- To what extent has the failure of regulation and reporting standards exacerbated the incidence of market misconduct and the recent financial crisis?
- What encourages the adoption of ethical standards in public firms versus private firms?
- Related research questions on both publicly traded and privately held institutions are welcome.
PAPER SUBMISSION PROCEDURE:
Papers are to be submitted to:
CONTACT: Douglas J. Cumming
With the subject heading:
"CFA-JCF -Schulich Conference on Financial Market Misconduct"
In your submissions, please indicate whether you want your paper to be considered for the Journal of Corporate Finance (JCF). Papers submitted to the JCF should also be submitted online at the JCF webpage. Papers will be reviewed following normal JCF standards.
KEY DATES:
To aid in the development of papers, a two-day conference will be held at York University, Toronto, Canada on April 3-4, 2014. The conference will feature an evening reception on April 3 with a Panel session convened by the CFA Institute and the keynote speaker. Conference paper presentations will be on April 3 and 4 at York University.
Deadline for submission to the conference is December 15, 2013. Authors will be notified about acceptance to conference by January 31, 2014. Acceptance to the conference does not guarantee acceptance into the Journal of Corporate Finance.