BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//BFI - ECPv5.14.1//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:BFI
X-ORIGINAL-URL:https://legacy.bfistage.com
X-WR-CALDESC:Events for BFI
REFRESH-INTERVAL;VALUE=DURATION:PT1H
X-Robots-Tag:noindex
X-PUBLISHED-TTL:PT1H
BEGIN:VTIMEZONE
TZID:America/Chicago
BEGIN:DAYLIGHT
TZOFFSETFROM:-0600
TZOFFSETTO:-0500
TZNAME:CDT
DTSTART:20210314T080000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:-0500
TZOFFSETTO:-0600
TZNAME:CST
DTSTART:20211107T070000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID=America/Chicago:20211013T200000
DTEND;TZID=America/Chicago:20211013T213000
DTSTAMP:20260628T134922
CREATED:20210916T183124Z
LAST-MODIFIED:20210916T183124Z
UID:28830-1634155200-1634160600@legacy.bfistage.com
SUMMARY:China Biweekly Seminar on Public Economics — Benjamin A. Olken
DESCRIPTION:The Tsinghua University – University of Chicago Joint Research Center for Economics and Finance\, in collaboration with the Becker Friedman Institute for Economics in China (BFI-China)\, the National Institute for Fiscal Studies (NIFS) and School of Economics and Management (SEM) at Tsinghua University\, will host a virtual seminar series to inspire research and discussion on public policy issues relating to China. Focusing on a wide range of topics in public economics\, the seminar will be a premier forum for frontier economic research and dialogue on Chinese economic issues. \nJoin us for the next seminar featuring Benjamin A. Olken\, Jane Berkowitz Carlton and Dennis William Carlton Professor of Microeconomics at the Massachusetts Institute of Technology. \n\nAll times listed below are Central Standard Time.
URL:https://legacy.bfistage.com/event/china-biweekly-seminar-on-public-economics-benjamin-a-olken/
LOCATION:Virtual Event
CATEGORIES:Seminar
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/Chicago:20211013T210000
DTEND;TZID=America/Chicago:20211013T220000
DTSTAMP:20260628T134922
CREATED:20211008T151540Z
LAST-MODIFIED:20211011T144058Z
UID:29250-1634158800-1634162400@legacy.bfistage.com
SUMMARY:Capital Market Development: China and Asia Seminar Series - Understanding Retail Investors: Evidence from China
DESCRIPTION:HOSTING ORGANIZERS\n\nCOLLABORATING ORGANIZERS\n\nUsing comprehensive account-level data from 2016 to 2019\, the authors examine retail investor trading behavior in the Chinese stock market. The authors separate millions of retail investors into five groups by their account sizes and document strong heterogeneity in their trading dynamics and performance. Retail investors with smaller account sizes cannot predict future price movements correctly\, in the sense that they buy future losers and sell future winners. These investors fail to process public news and display behavioral biases such as overconfidence and gambling preferences. In sharp contrast\, retail investors with larger account balances predict future returns correctly\, incorporate public news in their trading\, and gain more in stocks which are more attractive to investors with behavioral biases. For liquidity provision\, the smaller retail investors follow daily momentum strategies\, demanding immediate liquidity\, while they become contrarian over weekly horizons\, and they contribute positively towards firm-level liquidity. On the contrary\, larger retail investors are contrarian at daily horizons\, providing immediate liquidity\, but their potentially informed trades demand liquidity over longer terms. \nAbout the Seminar Series\nFinancial market development goes hand-in-hand with economic growth. The development of China’s capital markets in terms of size\, regulations\, capability\, and efficiency has been impressive. China may now even lead globally in some dimensions\, notably e-payments systems. Yet\, China’s capital markets are still a work-in-progress facing both generic and unique challenges. Other Asian capital markets have even greater uneven development. Some in advanced Asian economies have acquired globally acclaimed reputation and capabilities while various regulatory and structural weaknesses dwarf others. Corporations and investors have been inclined to arbitrage cross-border regulatory and developmental gaps; so the very uneven status of capital markets across Asia is a policy issue for the governments in the entire region and perhaps globally. Analyzing the positive and negative lessons in the functioning of Asia’s capital markets\, and identifying reforms and applications of technology that could further improve Asian capital markets’ allocation efficiency\, financial inclusion\, and forewarning against reforms that might cause problems can benefit practitioners\, policymakers and researchers\, and can contribute significantly to overall prosperity. \nThe ABFER and the University of Chicago’s Becker Friedman Institute China (BFI-China)\, in collaboration with National University of Singapore (NUS) Business School\, Shanghai Advanced Institute of Finance (SAIF)\, The Chinese University of Hong Kong (CUHK) Department of Economics\, CUHK-Shenzhen and Tsinghua University PBC School of Finance (Tsinghua PBCSF)\, hope to provide a virtual network to benefit researchers\, policymakers\, and practitioners from Asia and beyond. \n\n\nAll times are listed in Central Standard Time. A unique Zoom webinar link will be sent to you two days before the event.  \n\nSession Format\nEach session lasts for an hour (30 minutes for the author\, 15 minutes for the discussion\, 15 minutes for participants’ Q&A).
URL:https://legacy.bfistage.com/event/capital-market-development-china-and-asia-seminar-series-understanding-retail-investors-evidence-from-china/
LOCATION:Virtual Seminar
CATEGORIES:Seminar
END:VEVENT
END:VCALENDAR