Financial Management Association International

The first article in the FM Spring 2025 issue is "Does common institutional ownership mitigate hold-up problems along the supply chain?" by Yongning Deng,?Jing Li (National University of Singapore),?Qilin P. (University College Dublin),?and Wentao Yao (Xiamen University) https://lnkd.in/e7-7Xn9W Abstract: We show that common institutional ownership (CIO) along the supply chain mitigates hold-up problems faced by supplier–customer relationships resulting from incomplete contracts. Suppliers make more relationship-specific investments (RSIs) measured by R&D and patent filings toward their customers that share common institutional investors. Such effect is stronger as the CIO network between a supplier and customer pair becomes wider and deeper. We establish causality by exploiting exogenous shocks to CIO using a broad sample of mergers between financial institutions and further find the CIO effects on suppliers’ innovation specificity are stronger for those who ex ante face severer hold-up concerns. Lastly, we provide evidence that CIO involvement increases the combined valuations of supply chain pairs (mainly for customers). Our work sheds light on the hold-up mitigation effect of CIO on firms’ decision to make RSIs along the supply chain. #Finance #Research #FinancialManagement #Journal #Article #ResearchPaper #Academia #Researcher #FMA #FinanceResearch #FinanceJournal #Professor #AssistantProfessor #SupplyChain #CIO

?? SAVE THE DATE: 2025 FMA Asia/Pacific Conference FMA International (FMA) is excited to announce its 14th Asia/Pacific Conference at National Taiwan University in Taipei, Taiwan on 15 - 17 December 2025! FMA’s Asia/Pacific Conference?brings together academicians and practitioners with interests in financial decision-making and provides a forum for presenting new research and discussing current issues in financial management and related topics. ?? For more information, visit?https://lnkd.in/eK4pRjfw. #Finance #Conference #FinanceResearch #Researcher #ResearchConference #AsiaPacific #FMA #FinancialManagement #Taipei #Taiwan #SaveTheDate #International #Research

Watch the latest virtual Research Seminar in Finance, Economics, and Banking with Reena Aggarwal! Now available on FMA's Youtube channel: https://lnkd.in/efTMDuUK

FMA President Mara Faccio (Purdue University)?and Logan Emery (Erasmus University Rotterdam) write on the impact of the transitions of regulators to the private sector on government procurement contracts. Read the article: https://lnkd.in/eGUpPczT #Finance #Article #Research #PrivateSector #Regulators #FinanceResearch #FMA #Academia #Researcher #TaxPayer #EconomicPolicy

In this article, FMA Practitioner Director Mike Piwowar (Milken Institute)?offers insight on the SEC's statement that memecoins are not securities subject to the agency's oversight. Read the full article: https://lnkd.in/ez2WG7aP #Finance #Article #Memecoin #SEC #Practitioner #Researcher #Research #Academia #Crypto #Bitcoin #FinanceResearch

?? Check your inbox! The Spring 2025 (Volume 54, Issue 1) issue of Financial Management is now available. ?? View the issue: https://lnkd.in/eDQfQQRD #Finance?#Research?#FinanceResearch?#FinancialManagement?#Journal? #Academia?#Researcher?#FinanceResearcher?#Economics?#Article?#Financial?#FMA?#Education?

Researchers, submit your paper today for 2025 FMA Annual Meeting in Vancouver, Canada! ?? The meeting will be held from 22 - 25 October 2025 at the beautiful Vancouver Convention Centre in Vancouver, British Columbia, Canada. This conference will bring together academics and practitioners with interests in financial decision-making and provides a forum for presenting new research and discussing current issues in financial management and related topics. ? Vice President - 2025 FMA Annual Meeting Program: Jarrad Harford, Professor of Finance and Business Economics,?Chair of the Department of Finance and Business Economics, Paul Pigott-PACCAR Professor in Business Administration, University of Washington ? Keynote Speaker: Monika Piazzesi, Joan Kenney Professor of Economics &?Academic Council Faculty, Stanford University ?? Important Application Deadlines: Paper Submission: 4 April Program Committee Member: 4 April Session Chair/Discussant: 13 July Doctoral Student Consortium: 23 May Emerging Scholars Initiative: 23 May Innovation in Teaching Award: 23 May ? Please note - if you plan to attend the Annual Meeting, you may need a?Temporary Resident Visa (TRV)?(Visitor Visa) or an Electronic Travel Authorization (eTA)?to enter Canada. To learn more and view important travel information: https://lnkd.in/edNmPn-r. #AnnualMeeting #Conference #Finance #FinanceConference #Academia #FMA #FinancialManagement #Vancouver #Canada #Professor #AssistantProfessor #PhD #Doctoral #Research #Researcher

?? Today is the application deadline for the Doctoral Student Consortium at the 2025 FMA European Conference! Coordinated by?Dr. S. Abraham Ravid,?Sy Syms Professor of Finance at Yeshiva University and Visiting Professor, Yale School of Management, the Doctoral Student Consortium includes a panel session with distinguished scholars discussing the latest advances in research and offering career advice. The afternoon breakout sessions give participants the opportunity to present job market papers or dissertation proposals and receive feedback from the faculty and panelists.?Accepted participants receive complimentary conference registration. ?? The application deadline is?7?March 2025 (11:59 PM EST). ?? Learn more and apply here: https://lnkd.in/eee-z-eX. #Finance #Research #Researcher #FinanceResearch #Doctoral #DSC #Academia #Professor #Conference #FinanceConference #Consortium #Europe #Dissertation #Proposal #CareerAdvice

Financial Management article "Persistence and Market Timing Ability of Cryptocurrency Funds" by Tom Conlon (University College Dublin),?Diego Víctor De Mingo-López (Universitat Jaume I), and?Andrew Urquhart (University of Birmingham) is now available in Early View. Abstract: Growth in cryptocurrency funds has followed the wider expansion of the cryptocurrency sector. In this paper, we study the performance persistence and market timing ability of cryptocurrency fund managers. We show that cryptocurrency funds produce remarkable levels of abnormal returns. Moreover, sorting by previous alpha provides compelling evidence of persistence in abnormal returns. Funds with previous excess abnormal returns have high ex post abnormal returns, while cryptocurrency factors explain only a small proportion of the variation in these returns. An ex post outperformance among funds displaying ex ante market timing skills is found, while these ex post abnormal returns can, in turn, be attributed to managerial timing?abilities. ?? Read the article: https://lnkd.in/eKXZW8wr #Finance #Research #FinanceResearch #FinancialManagement #FM #Academia #Cryptocurrency #Funds #Market #Journal #Article

The RSiFEB seminar with Reena Aggarwal will begin shortly! If you've already registered, please check your inbox for Zoom details. The seminar is free to all. Register here: https://www.fma.org/febrn #Finance #Research #Seminar #VirtualSeminar #Economics #Banking #FinanceResearch #Virtual