2023 Applied Finance Conference 

12 May 2023 | St. John's University, New York, NY

The Eleventh Annual FMA Applied Finance Conference will be hosted in-person at St. John’s University’s Tobin College of Business's Manhattan campus (101 Astor Place, New York, NY 10003) located in the heart of New York City’s most vibrant neighborhoods. 

Please note: St. John's University no longer requires that all campus visitors be fully vaccinated for Covid-19. 

The Conference is much smaller and more focused than the FMA’s traditional meetings and includes a relatively small number of papers to provide ample opportunity for presentations and discussion by participants. FMA seeks high-quality papers from scholars and practitioners in the fields of finance and accounting that:

  • Inform practice and advance the frontiers of academic research in directions relevant to practice.
  • Address issues that are relevant to contemporary issues globally and for policy formation and assessment.
  • Introduce new hypotheses that have the potential to stimulate additional research.

Program Co-Chairs

Anna Martin, Executive Director, Applied Finance Institute & Alois J. Theis Endowed Chair in Global Finance
St. John's University

Betty Simkins, Regents Professor of Finance, Head, Department of Finance, Williams Companies Chair of Business & Professor of Finance Oklahoma State University

Practitioner Insights Coordinator

Jason Berkowitz, Associate Professor and Department Chair
St. John's University


Conference Registration

Online registration is no longer available. Please contact FMA here for alternative registration arrrangements.

The Conference registration fee is $125 and includes the conference program, continental breakfast, luncheon and the closing reception.

Conference Hotels

There is no official conference hotel for the 2023 Applied Finance Conference. A list of hotels near St. John's University with estimated rates and links the hotels' websites is available here.

Conference Program

Featuring Keynote Speaker, Jane Buchan, CEO, Martlet Asset Management 

Jane Buchan is Chief Executive Officer of Martlet Asset Management, an independent firm established in 2018.

Prior to founding Martlet, Jane was Chief Executive Officer of PAAMCO, a fund of hedge funds, which she helped found in 2000, and Co-CEO of the holding company, PAAMCO Prisma Holdings. Under her leadership, the firm grew to $32 billion in assets under management.

Ms. Buchan began her career at J.P. Morgan Investment Management in the Capital Markets Group. She has been an Assistant Professor of Finance at the Amos Tuck School of Business at Dartmouth College. She recently served as chairwoman of the board for the Chartered Alternative Investment Analyst Association (CAIA) and is a member of the Advisory Board for the Master of Financial Engineering Program at UCLA Anderson School of Management. In addition, she is currently serving on the boards of AGF Management Ltd. and Globe Life Inc.

In 2021 and 2020, Jane was named to the Barron's 100 Most Influential Women in US Finance and in 2015 she was named to the Investhedge Hall of Fame.

Ms. Buchan has been actively involved in initiatives to advance the careers of women in finance and is a founding Angel for 100 Women in Finance. She has also been recognized with numerous industry honors and awards.

Jane holds both a Ph.D. and an M.A. in Business Economics (Finance) from Harvard University. She earned a B.A. in Economics from Yale University. Jane has thirty-four years of experience in investment management and portfolio construction with institutional investors.

Conference Program

Download the full Program here.

Conference Registration and Continental Breakfast (8:00 AM - 8:30 AM

Main Entrance in front of Security Desk (Concourse Level)


Session 1 - Public Offerings  (8:30 am - 10:15 am) (Room C06)

Chairperson: Jacqueline Garner, Georgia Institute of Technology

Does the Confidential IPO Registration Process Create Value?

Mengnan Zhu, Dickinson College

Monitoring Capital and the Decision to Go Public

Shahram Amini, Univ of Denver | Andrew MacKinlay, Virginia Tech | Johan Sulaeman, National Univ of Singapore | Chishen Wei, Hong Kong Polytechnic Univ


Yini Liu, Western Univ | Kerron Joseph, Western Kentucky Univ


Heng (Emily) Wang, LeMoyne College


Nonna Sorokina, Penn State Univ Scranton


Emma Neuhauser, Elizabethtown College

Practitioner Insights: Andrew MacDonald, Vice President & Senior Analyst, Moody's


Session 2 - Impacts on Markets (8:30 am - 10:15 am) (Room C07)

Chairperson: George Jiang, Washington State University

Market Fragmentation and Price Impact

Lewen Guo, Univ of Memphis | Pankaj Jain, Univ of Memphis

Predicting Recessions Using VIX-Yield Curve Cycles

Anne Lundgaard Hansen, Federal Reserve Bank of Richmond

US Populist Rhetoric and Currency Returns

Ilias Filippou, Washington Univ in St Louis | Arie E Gozluklu, Univ of Warwick | My T Nguyen, Washington Univ in St Louis | Mark P Taylor, Washington Univ in St Louis


Stacie Tao, New Jersey Inst of Technology


Majeed Simaan, Stevens Inst of Technology


Mikael Bergbrant, St John's University

Practitioner Insights: Victor Flores, Managing Partner, Snowwater Investment Partners, LLC


Coffee Break (10:15 AM -10:30 AM) (1st Floor Hallway)


Session 3 - PANEL SESSION (Rooms 105 & 106)

ESG Conversations on Why We Should Care: A New Look at Research, Regulation and Ratings

10:30 AM - 12:00 Noon

These impactful conversations will address the continuing evolution of ESG with new regulations in the EU and US to promote transparency and uniformity of reporting. 


Susan Hume, Associate Professor of Finance

The College of New Jersey


Andrew MacDonald, Vice President & Senior Analyst

Moody's Investor Service

"The Importance of a Rating Agency's ESG Framework and Credit Impact Scores"

Carla Nunes, Managing Director, Office of Professional Practice (OPP)/Valuation Digital Solutions


"A New Global Analysis on ESG Ratings and Market Returns"

Balbinder Gill, Assistant Professor of Finance

Stevens Institute of Technology

"Research and Educational Guidance about Climate and "It's not all about E, but S & G Too" with research on sexual harassment"




Keynote Address (12:00 noon - 1:00 PM) (Rooms 105 & 106)

Featuring Keynote Speaker, Jane Buchan, CEO, Martlet Asset Management 

Jane Buchan is Chief Executive Officer of Martlet Asset Management, an independent firm established in 2018.


Luncheon (1:00 PM - 2:00 PM) (Rooms 105 & 106)


Session 4 - Banking and Regulatory Concerns (2:00 pm -3:45 pm) (Room C06)

Chairperson: Sunil Mohanty, Brooklyn College CUNY

Stakeholders' Aversion to Inequality and Bank Lending to Under-served Borrowers

Matteo Crosignani, Federal Reserve Bank of New York | Hanh Le, Univ of Illinois Chicago

The Ring-Fencing Bonus

Irem Erten, Univ of Warwick | Ioana Neamtu, Bank of England | John Thanassoulis, Univ of Warwick

Banking Sector Consolidation and Corporate Financial Policies

Valerio Poti, University College Dublin | William Senyu Wang, Univ of Essex


Yu Shan, Syracuse University


Franz Hinzen, New York University


Alev Yildirim, Queens College

Practitioner Insights: Lizbeth Edwards, Analyst, Deutsche Bank - New York


Session 5 - Various Firm-Level Analyses (2:00 pm - 3:45 pm) (Room C07)

Chairperson: Iftekhar Hasan, Fordham University

Mistaking Bad News for Good News? Mispricing of a Voluntary Disclosure

Jenny Zha Giedt, George Washington Univ | Hyunjung Rim, George Washington Univ

Why do Insiders Sell Stocks after Receiving Options?

Fei Fang, Clark Univ | Parianen Veeren, Concordia Univ | Zhenyang (David) Tang, Clark Univ

Demand Elasticities, Nominal Rigidities and Asset Prices

Nuno Clara, Duke Univ


Stefano Bonini, Stevens Inst of Technology


Caleb Houston, University of Alabama Birmingham


Andrey Ermolov, Fordham University

Practitioner Insights: Thomas Shohfi, Financial Economist, US SEC


Coffee Break (3:45 PM - 4:00 PM) (C06-07 Hallway)


Session 6 - PANEL SESSION (Rooms 105 & 106)

Regulatory Uncertainty in the Cryptocurrency Markets

4:00 PM - 5:30 PM

This panel brings perspectives on the future of cryptocurrency markets in the wake of the recent wave of bankruptcies and fallout from the FTX exchange collapse. Given the exigency of regulation in the crypto industry, our panelists present views from academia, industry, and regulator.


Zenu Sharma, Assistant Professor

St. John's University


Ian Kolman, Vice President

Galaxy Digital

Michael Junho Lee, Financial Research Economist

Federal Reserve Bank of New York

David YermackAlbert Fingerhut Professor of Finance and Business Transformation

Stern School of Business, New York University


 Presenting authors appear in bold.

Conference Reception (5:30 PM - 6:30 PM) (Cullom Davis LIbrary, 2nd Floor)


Paper Submissions

The paper submission deadline was Wednesday, 1 February 2023. The submission fee was $25 FMA members; $35 non-members. We are not longer able to accept submissions. Decision letters were sent on 22 March 2023. If you have not received your letter, please contact FMA here. 

Call for Papers 

Click here to read the Call For Papers.

#FMAAFC2023 - Follow the Conversation

During the conference, use the hashtag #FMAAFC2023 to follow the conversation on Twitter (@finmgmtassoc) and Facebook (www.facebook.com/FMA.org).

THANK YOU to our sponsor:

St. John's University 

Founded in 1870, St. John’s University is a Catholic and Vincentian university that prepares students for ethical leadership roles in today’s global society.

St. John’s has four campuses—Queens, Staten Island, and Manhattan in New York, and Rome, Italy. The University also has three academic locations—Hauppauge, New York; Paris, France; and Limerick, Ireland. Students come to St. John’s from 46 states and 127 countries. The University offers more than 100 associate, bachelor’s, master’s, and doctoral degree programs in the arts, business, education, law, pharmacy, and the natural and applied sciences. Students benefit from academic service, learning activities, extensive global studies opportunities, an alumni network of over 180,000, and 17 NCAA, Division I men’s and women’s athletic teams.