Keynote Speakers of ICEBM 2021

Prof. Don M. Chance, Louisiana State University, USA

James C. Flores Endowed Chair of MBA Studies
Professor, Department of Finance
Professor, Flores MBA Program

Don M. Chance, Ph.D., CFA, holds the James C. Flores Endowed Chair of MBA Studies and is Professor of Finance at the E. J. Ourso College of Business at Louisiana State University. He previously held the William H. Wright, Jr. Endowed Chair for Financial Services at LSU, and the First Union Professorship in Financial Risk Management at Virginia Tech. Prior to his academic career, he worked for a large southeastern bank, now part of Regions Bank. He has been a visiting scholar at universities in Hong Kong, Australia, Korea, Singapore, Scotland, and in the U. S. Professor Chance has had numerous articles published in academic and practitioner journals and has authored four books, including An Introduction to Derivatives and Risk Management, 10th ed. co-authored with Robert Brooks, Essays in Derivatives: Risk Transfer Tools and Topics Made Easy (2nd ed.), and Analysis of Derivatives for the CFA Program. His latest book, Financial Risk Management for End Users was published by World Scientific in late 2019, and he is currently working with Robert Brooks on a book called Foundations of the Pricing of Financial Derivatives. He has extensive experience conducting professional training programs, and his consulting practice (Omega Risk Advisors, LLC) serves companies, organizations, and law firms. He has also been heavily involved in the development and authorship of the derivatives and risk management curriculum in the CFA program. In 2015 he received the C. Stewart Shepard Award for his many years of service to the CFA Institute in the development of its educational programs. He is a member of LSU's Supplemental Retirement Plan Oversight Committee, and he chaiared the university's promotion and tenure committee for three years. In his spare time he plays guitar, sings, and performs as a solo guitar & vocal act. He has traveled to more than 50 countries, and in March, 2016 he completed a 26-mile hike on the Inca Trail to Machu Picchu. He also recently authored a novel, The Assignment, which is set in a university and is available on Amazon.

Title: The Risk Management of COVID

Abstract: COVID-19 as a pandemic has become one of the most famous and catastrophic health crises in modern history. It has exacted a tremendous toll on human lives and economic stability. Yet, COVID has not been viewed as a risk management issue, but in fact, COVID is all about risk management. It is about deciding on acceptable levels of risk, knowing that elimination is not possible. This talk reviews certain basic principles of risk management in the context of managing COVID risk by public health officials. It predicts that the outcomes that occurred were almost surely far worse than they would have been had more attention been placed to the basic principles of risk management.

 

Assoc. Prof. George Shan, The University of Western Australia, Australia

Dr. George Shan is the Associate Professor in the Accounting and Finance Discipline of the Business School at The University of Western Australia. He holds Bachelor of Commerce, Bachelor of Applied Finance, Master of Commerce (Accounting) and completed his PhD in Accounting and Corporate Governance. George is CA, CPA, MIPA and CMA. Previously, he has worked at several Australian and international universities including University of South Australia, University of Ballarat, the University of Adelaide and University of Rome Tor Vergata. Among them the University of Adelaide and the University of Western Australia are ranked the top universities in the world and Group of Eight in Australia, where he taught Financial Accounting, Management Accounting, Corporate Accounting, Accounting Concepts & Practices, Corporate Governance & Accountability, Investment Banking & Project Finance, Portfolio & Fund Management, Applied Financial Management and Financial Risk Analysis. He is a registered principal supervisor for PhD students, and his current research areas and interests include corporate governance and its related topics within accounting, finance and Fintech (i.e., CSR, textual analysis, AI, machine learning, and big data). He has published over 35 academic journal and conference papers based in recent years, including Journal of Contemporary Accounting and Economics, Emerging Markets Review, Family Business Review, Modern Asian Studies, Corporate Governance: An International Review and Journal of Computer Information Systems. George is an Associate Editor for The Japanese Accounting Review.

Title: Does the Achilles Heel of Guarantee Network Drive Financial Distress?

Abstract: This study explores what characteristics of guarantee network drive financial distress. It uses a dataset containing 20,467 firm-year observations for all Chinese listed companies on the Shanghai and the Shenzhen Stock Exchanges for the period of 2009–2018, and constructs guarantee networks through 85,229 guarantee relationships whose guarantors are listed companies. The main empirical finding indicates that guarantee network has negative effect on companies’ financial distress, and moreover the networks with Achilles heel, larger size, and companies with highly closeness centrality exacerbate this effect. We also note that the companies in better financial situation suffer strong negative impact. Further, we find that guarantee network also has similar negative impact on companies’ shareholder tunneling problem because guarantee relationship may become a channel for tunneling. Last, we believe the negative effect of guarantee network on company financial situation is showed through cash holdings and long-term liabilities.
Keywords: Guarantee network; Financial distress; Achilles heel
JEL Classification: C88; G32; M41