2nd Asian FTG Conference

2nd Asian FTG Conference

09

Dec

The Singapore Management University is hosting the 2nd Asian Finance Theory Group (FTG) meeting on December 9-10, 2025.


December 9th (Tuesday)

1:30pm-1:45pm

Welcome remarks


Plenary session: Information and Firms (seminar room 2.7)

1:45pm-3:15pm

"Public Disclosure and Private Capital" by Clemens Otto

"Endogenous Misinformation and Source Authentication" by Jaden Chen, Will Cong, and Siguang Li

"Why Divest? The Political and Informational Roles of Institutions in Asset Stranding" by Murray Carlson, Adlai Fisher, and Ali Lazrak

3:15pm-3:45pm

Break


Parallel Session I: Market Microstructure (seminar room 2.7)

Parallel Session II: Corporate Finance (seminar room 2.8)

3:45pm-4:45pm

"Dynamic Market Choice" by Xian Wu

"A Model of Supplier Finance" by Bo Hu, Makoto Watanabe, and Jun Zhang

"Information Acquisition in Fragmented Markets" by Xian Wu and Mengjia Xia

"Capital Structure and ESG Integration" by Dongkyu Chang, Keeyoung Rhee, and Aaron Yoon

4:45pm-5pm

Break


Parallel Session III: Institutional Investors (seminar room 2.7)

Parallel Session IV: Financial contracting (seminar room 2.8)

5pm-6pm

"When Silicon Valley Meets Wall Street: A Theory of Financial Overengineering" by Jun Aoyagi and Yuki Sato

"Flexible Monitoring, Double Moral Hazard, and Fixed-Wage Contracts" by Liang Dai, Yenan Wang, and Ming Yang

"Delegated Cheap Talk: A Theory of Investment Banking" by Changyeop Lee and Sungmin Park

"Payment Methods and Market Feedback in Mergers and Acquisitions" by Tse-Chun Lin, Xiaorong Ma, Liyan Yang, and Minxing Zhu

6pm-6:30pm

Reception

6:45 PM

Small group dinners

December 10th (Wednesday). Seminar room 2.7

9am-9:30am

Pastries and coffee

9:30am-10:30am

"Open Banking under Maturity Transformation" by Itay Goldstein, Chong Huang, and Liyan Yang

10:30am-10:45am

Break

10:45am-11:45am

"Trading against Algorithms: Price Dynamics and Risk-sharing in a Market with Q-learners" by Snehal Banerjee and Martin Szydlowski

11:45am-12pm

Break

12pm-1pm

"Amusing Ourselves to Death? Education and Careers Under Digital Influence" by Will Cong and Siguang Li

1pm-2pm

Lunch

2pm-3pm

"Debt and the Optimal Incentives Over Time" by Zhaohui Chen and Juraj Foldes

3pm-3:15pm

Break

3:15pm-4:15pm

"A Model of Bank Hedging" by Arvind Krishnamurty, Zhiguo He, and Konstantin Milbradt

4:15pm-4:30pm

Adjourn


Information about Local Accommodations

Because Singapore Management University (SMU) is centrally located, there is a wide variety of nearby hotel options. Many SMU visitors stay at the following hotels within walking distance to campus:

  1. Carlton Hotel Singapore – ~3–5 min walk – US$180–220 – Upscale, convenient, good value.
  2. Grand Park City Hall – ~5–7 min walk – US$200–250 – Boutique-style, central location.
  3. InterContinental Singapore – ~10–15 min walk – US$300–360 – Luxury, heritage design.
  4. The Capitol Kempinski – ~2–4 min walk – US$380–420 – Premium heritage luxury.
  5. SwissΓ΄tel The Stamford Singapore – ~2–3 min walk – US$260–320 – Large 5-star, extensive amenities.
  6. Fairmont Singapore – ~5–6 min walk – US$270–300 – Elegant, centrally connected.
  7. JW Marriott Singapore South Beach – ~7–10 min walk – US$300–320 – Stylish, modern luxury.




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Singapore Management University