“SET Best Paper Award in Capital Market” sponsored by The Stock Exchange of Thailand

1. Determinants of Analyst Replacement
Shin-Rong Shiah-Hou, Yuan-Ze University
2. Disclosure of Intended use of Proceeds and Stock Market Performance of Initial Public Offerings (IPOs)
Kulabutr Komenkul, Rangsit University
Mo Sherif, Heriot-Watt University
Bing Xu, Heriot-Watt University

"Asian Finance Association Best Paper Award" sponsored by The Asian Finance Association
1. Expectations and Risk Premia at 8:30am: Macroeconomic Announcements and the Yield Curve
Peter Hoerdahl, Bank for International Settlements
Eli M. Remolona, Bank for International Settlements
Giorgio Valente, City University of Hong Kong

2. Best Execution: Can Institutional and Retail Investors Benefit from Fast and Fragmented Trading?
Michal Dzielinski, Stockholm Business School
Bjorn Hagstromer, Stockholm Business School
Lars L. Norden, Stockholm Business School

3. Corporate Tax Havens and Transparency
Morten Bennedsen, INSEAD
Stefan Zeume, University of Michigan

CFA best paper award sponsored by CFA
1. Do Equity Analysts Learn from Their Colleagues? Evidence Using an Information Network Centrality Measure
Jing Wen Kenny Phua, Nanyang Technological University (NTU)
T. Mandy Tham, Nanyang Technological University (NTU)
Chishen Wei, Nanyang Technological University (NTU) - Division of Banking & Finance

"Pacific-Basin Finance Journal Research Excellence Award" sponsored by The Pacific-Basin Finance Journal
1. Threat of Entry: Trade Credit and the Defense of Market Power
Manpreet Singh, Hong Kong University of Science & Technology - Department of Finance

2. Investor Network: Implications for Information Diffusion and Asset Prices
Chung San-Lin, National Taiwan University
Wen-Rang Liu, National Taiwan University
Kevin Tseng, University of Kansas, School of Business

3. Political Connection Disruption, Financial Flexibility and Cash Policy
Xiaofeng Zhao, The Chinese University of Hong Kong (CUHK) - Department of Finance Haohan Ren, The Chinese University of Hong Kong (CUHK) - Department of Finance

4. Short Sale, Margin Purchase, and Stock Price Crash Risk
Yan Luo, Fudan University
Jinjuan Ren, University of Macau


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