58th Annual Conference – Academy of Economics and Finance

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Online Program for the

58th Annual Meeting

February 9 - 11, 2021

All times are in Central Standard Time (CST)

Executive Board Meeting

Wednesday, February 10, 2021 5:30-? (CST)

Item No.	Item	Speaker
1	Welcome, Call to Order, and Establishment of Quorum	S. Margetis
2	Appointment of Parliamentarian	S. Margetis
3	Approval of Minutes from the 2020 Executive Committee Meeting	S. Margetis
4	Secretary’s Report	K. Henebry
5	Treasurer’s Report	R. Vogel
6	Report of the Nominating Committee and Elections	S. Margetis
7	Journal of Economics and Finance, Editor’s Report	J. Payne
8	Journal of Economics and Finance Education Editor’s Report	F. Stephenson
9	Academy of Economics and Finance Journal	M. Toma
10	Papers and Proceedings Editor’s Report	M. Toma & N. Mangee
11	Web Page Administrator	D. Berg
12	Local Arrangements Chair Report 2021 Meeting	M. Sardy
13	Site Selection Committee Report 2022-3 Meetings	R. McGrath
14	Teacher Training Program Report	J. Beck & M. Funck
15	Program Chair Report 2021	M. Funck
16	First Vice President’s Report	A. Mussa
17	Second Vice President’s Report	M. Sardy
18	Edward Nissan Undergraduate Papers Competition	B. Conaway
19	Nominations of Teaching/Research/Service Fellows	Stretcher/Kassis/Graham
20	Nomination of Honorary Members	S. Margetis
21	Nomination of Fellow of the AEF	S. Margetis
22	Old Business	S. Margetis
	a.
23	New Business	S. Margetis
	a.
24	Hand off to new President and presentation of plaque to S. Margetis	M. Funck

Letter from the AEF President

Dear AEF Members and Guests:

It is my pleasure to welcome our members and guests to the 58th annual meeting of the Academy of Economics and Finance. We have a long tradition of scholarship and collegiality at our conference., We are pleased that you chose to present your research at the 2021 Conference. Due to the global pandemic, we have chosen to conduct the conference virtually for the health and safety of all participants. We plan to return to an in-person conference next year. This year, there are 106 papers being presented. Among these are 10 undergraduate papers and 10 doctoral papers. The presentations will be conducted virtually via Zoom and we hope that you take the opportunity to engage with your peers in the sessions.

We acknowledge and thank the J. Whitney Bunting College of Business at Georgia College and State University for sponsoring the Edward Nissan Undergraduate Paper Competition.

The Teacher Training Program will be held on Saturday morning. Countless members have benefited from the training. Please show your gratitude as you attend your sessions to those who contribute with their papers and comments.

I would like to thank Robert Funck, Executive Vice President and Chief Financial Officer of Abbott for his role as our keynote speaker at the J. Anderson Davis Lecture on Friday.

The Academy’s conference is a demanding task which requires the work of many people. The overwhelming portion of the work organizing the conference was conducted by Mary Funck, President Elect and Program Chair. Abeba Musa (First Vice President) is responsible for the Outstanding Conference Paper Competition. Marc Sardy (Second Vice President) is coordinating the Best Doctoral Student Paper Award, as well as the Best MBA Student Paper Award. Marc Sardy is in charge of the Edward Nissan Undergraduate Paper Competition. Jason Beck and Mary Funck organized the Teacher Training Program and its presenters and activities. Three people deserve special thanks: Kath Henebry (Secretary), Richard Vogel (Treasurer), and Doug Berg (Webmaster). They have been serving in their respective positions for many years and have helped the Academy of Economics and Finance thrive over the years. They have provided me help and guidance as I have served in leadership roles over the last four years. I would not have been able to complete my role as President without their support.

We welcome everyone, and please join us next year in Charleston, South Carolina.

Enjoy the conference!

Speros Margetis

AEF President 2020-2021

Congratulations to the 2020 Conference
Best Paper Competition Winners

Best Conference Papers

Finance: “Regional Volatility Spillovers and Political Instability: A GARCH-DCC with Markov Switching Approach” John K. Tarwater

Economics: “Corporate Board Independence, Conglomerate Subsidiary Vs Standalone Firm” Md. Hamid Uddin, Kahkan Najaf, M. Kabir Hassan, and Nor Shaipah Abdul Wahab

Best PhD Papers

Finance: “Disclosure Frequency and Mutual Fund Window Dressing” Yang Wang, Tulane University

Economics: “Credit Supply Decomposition and Real Activity” Maximillian Littlejohn, University of California Irvine

Ed Nissan Undergraduate Papers

“Hacking the Market: The case surrounding cyber breaches” Dylan Vogt, Saint Joseph’s University

“Sentiment and Video Assistant Referees in Premier League Soccer” Dylan Blechner, Syracuse University

Presenters wishing to submit papers to the 2021 conference ‘Best Paper Award’ competition should email their papers directly to Marc Sardy at MSARDY@Rollins.edu

The papers should be in PDF format
The subject line of the email should indicate which competition you are entering (Economics or Finance)
Papers should be received by the Sunday following the conference (by February 14th)

Special Programs of the 2021 Meeting

Executive Board Meeting

Wednesday, February 10, 2021, 5:30-7:30 pm

Edward Nissan Undergraduate Paper Competition

Sponsored by Georgia College State University

Sessions 1A, 2A

Thursday, February 11

PhD Papers Competition

Sessions 1B, 3B (Session 3B will begin at 12:30)

Thursday, February 11

J. D. Anderson Davis Speaker

Robert E. Funck, Jr

Executive Vice President

and Chief Financial Officer

Abbott Corporation

Friday, February 12, 2021,

12:00-1:00 p.m.

Business Meeting

Friday, February 12, 2021

5:30 – 7:30 p.m.

Teacher Training Program

Saturday, February 13,

8:30 a.m. – 11:50 a.m.

NOTE: all times listed in the program refer to Central Standard Time

Academy of Economics and Finance Journal

2021 Volume 12

Guidelines for the Submission of Papers

Registrants at the annual AEF conference may submit their papers to the Academy of Economics and Finance Journal, Volume 12, for publication. The AEFJ is blind-reviewed and is currently edited by Nicholas Mangee (finance) and Michael Toma (economics) at Georgia Southern University. The journal is generally published late in the Fall following the conference.

Papers must be submitted by May 1st, but the editors are flexible. The submission method is with an electronic copy of the paper through e-mail through the AEF’s online journal system. Details about this process will be available after the conference concludes in the “Call for Papers” notice sent via email to all conference registrants.

The submission fee for the AEFJ is $95; full payment is due at the time of submission. The submission fee can be paid by credit card or by check. To pay by credit card, go to www.paypal.com and open an individual PayPal account, then select “Send Money.” Send your payment to “aef1234@yahoo.com“.

NOTE: if you decide to pay through PayPal, add $3 to your submission fee.

If you choose to pay by check, your check should be made to the Academy of Economics and Finance. The mailing address for payment will be provided to the membership shortly after the conference.

The paper must be prepared using Microsoft Word. Papers in any other format cannot be accepted. Papers should be prepared according to the guidelines suggested at the AEF website (https://economics-finance.org/AEF/); papers submitted absent broad adherence to these guidelines will be returned to the authors for editing and resubmission.

Academy of Economics and Finance Papers and Proceedings

2021, Volume 45

Guidelines for the Submission of Papers

NOTE: if you decide to pay through PayPal, add $3 to your submission fee.

If you choose to pay by check, your check should be made to the Academy of Economics and Finance. The mailing address for payment will be provided to the membership shortly after the conference.

ACADEMY OF ECONOMICS AND FINANCE

J. Anderson Davis Lecture

Featured Speaker: Robert E. Funck, Jr

Executive Vice President

and Chief Financial Officer

Abbott Corporation

Friday, February 12, 2021,

12:00-1:00 p.m.

Zoom Link: https://utampa.zoom.us/j/94246337797?pwd=WHN4Q3dqQkdoUStOTWl0TVQxaVRzUT09

Passcode: 822625

Zoom link to the TTP: https://georgiasouthern.zoom.us/j/84350585583

Passcode: 2021

Academy of Economics and Finance

2020 -2021 Leadership

President (2021) Speros Margetis, University of Tampa

President-Elect and Program Chair (2021) Mary Funck, Sam Houston State University

Local Arrangements Chair (2021) Marc Sardy & Richard Lewin, Rollins College

First Vice President and Outstanding Conference Papers Chair (2021) Abeba Mussa — State University of New York at Farmingdale, NY

Second Vice President and PhD Papers Competition Chair (2021) Marc Sardy, Rollins College

Undergraduate Papers Competition Coordinator (2021) Brooke Conaway, Georgia College and State University

Secretary (2024) Kath Henebry, University of Nebraska Omaha

Treasurer (2022) Richard Vogel, Farmingdale State College

Directors (End of Term)

Robert Burney (2021) – Coastal Carolina University (SC)

Michael McLain (2021) — Hampton University (NC)

Kabir Hassan (2022) — University of New Orleans, (LS)

James Malm (2022) — College of Charleston (SC)

Stephen Conroy (2023) — University of San Diego, (CA)

Brooke Conaway (2023) – Georgia College and State University (GA)

Phyllis Keys (2024) – Morgan State University (MD)

Richard Lewin (2024) – Rollins College (FL)

Editors:

Journal of Economics and Finance – James Payne, Benedictine University

Journal of Economics and Finance Education – F. Stephenson, Berry College

Academy of Economics and Finance Journal – Mike Toma (Economics) & Nicholas Mangee (Finance), Georgia Southern University

Academy of Economics and Finance: Papers and Proceedings (2021) – Mike Toma (Economics) Nicholas Mangee (Finance) interim co-editors

Webmaster Douglas Berg, Sam Houston State University

Teacher Training Program Director Jason Beck, Georgia Southern University, Mary Funck, Sam Houston State University

Program Committee, 2021 Meeting Mary Funck, Sam Houston State University, President-Elect, Chair

Local Arrangements Committee, 2021 Meeting; Atlanta, GA (Chair appointed by President): Marc Sardy & Richard Lewin; Donna Joyner

Site Selection Committee, (2022 meeting) (appointed by President, four members, staggered terms): Rick McGrath (2024, chair for 2022 meeting), Salvador Lopez (2021), Marc Sardy (2022), Mike Toma (2023)

Teaching Fellow Committee, 2021 Meeting (appointed by President, Past President, Chair; four other members serving staggered terms): Robert Stretcher, Past President, Chair; Dave Davis (2021), Jose Gutierrez (2022), Bhavneet Walia (2023) and Steve Ha (2024)

Research Fellow Committee, 2021 Meeting (appointed by President, Past President, Chair; four other members serving staggered terms): Mary Kassis, Past President, Chair; Edward Sayre (2021), Rodney Paul (2022), Steven Conroy (2023) and Adrian Austin (2024)

Service Fellow Committee, 2021 Meeting (appointed by President, Past President, Chair; four other members serving staggered terms): Ed Graham, Chair; Graham Mitenko (2021), James Malm (2022), Robery Burney (2023) and Steven Jones (2024)

Nominating Committee, 2021 Meeting (President as Chair and two Past Presidents): Speros Margetis, Chair; Mike Toma and Mary Kassis

Outstanding Papers Committee, 2021 Meeting Abeba Musa, First Vice President, Chair

Distinguished Ph.D. Paper Committee, 2021 Meeting Marc Sardy, Second Vice President, Chair

Teacher Training Program Committee, 2021 Meeting Jason Beck

Outline of Conference Sessions

Wednesday, February 10th
5:30 - 8:30 p.m.	Executive Board Meeting

Thursday, February 11th
8:00-9:45 a.m.	Sessions 1A-1D
10:00-11:45 a.m.	Sessions 2A, 2C-2D
12:00-1:15 p.m.	Lunch Break
1:30-3:15 p.m.	Sessions 3A - 3D ** Session 3B begins at 12:30
3:30-5:15 p.m.	Sessions 4A, 4C-4D

Friday, February 12th
8:00-9:45 a.m.	Sessions 5A-5E
10:00-11:45 a.m.	Sessions 6A-6D
12:00-1:15 p.m.	J. D. Anderson Speaker & Awards Ceremony
1:30-3:15 p.m.	Sessions 7A-7D
3:30-5:15 p.m.	Sessions 8A-8D
5:30-7:30 p.m.	Business Meeting

Saturday, February 13th
8:30-11:50 a.m.	Teacher Training Program
NOTE: all time listed refer to central standard time

Sessions, Topics, and Times

Thursday

Session / Time	A	B	C	D
1 8:00 - 9:45 a.m.	Undergraduate Papers 1	PhD Papers 1 (Finance)	General & Business Economics	Financial Education 1
2 10:00 - 11:45 a.m.	Undergraduate Papers 2		Corporate & Governance 1	Economic Education 1
3 1:30 - 3:15 p.m.	Household Finance	PhD Papers 3 (Economics) ** Begins at 12:30	Econometrics & Economic Development	Financial Education 2
4 3:30 - 5:15 p.m.	Financial Institutions and Services 1		Corporate & Governance 3	Real Estate Markets, Spatial Production Analysis, and Firm Locations

Friday

Session / Time	A	B	C	D	E
5 8:00 - 9:45	Corporate & Governance 2	General Financial Markets 1	Health & Welfare	Financial Education 3	Sports Economics
6 10:00 - 11:45 a.m.	Macroeconomics	General Financial Markets 2	Financial Institutions & Services 2	Economics Education 2
12:00 - 1:15 p.m.		J. Anderson Davis Speaker & Awards Ceremony
7 1:30 - 3:15 p.m.	Structure & Scope of Government	International Finance / Trade	Demographic Economics	Financial Institutions & Services 3
8 3:30 - 5:15 p.m.	Measuring the Impact of COVID-19	General Finance	Market Performance	Education / Educational Institutions

Sessions of the 2021 Annual Meeting of the AEF

Session 1A	Undergraduate Competition 1
Day:	Thursday
Time:	8:00 – 9:45 AM
Zoom Link:	https://us02web.zoom.us/j/81781296104?pwd=WkROYm4wNmEyeHh3Z0o2NWpkYXJ6QT09
Passcode:	212989
Moderator:	Brooke Conaway brooke.conaway@gcsu.edu
Faculty Judges:	Heather Bono, Isarin Durongkadej, and Frank Stephenson

	Title	Presenter
	A Case Study of Sustainable Real Estate Development in the United Arab Emirates (UAE)	Carys Davidson-Huxley Rollins College cdavidsonhuxley@rollins.edu
	Does Family Size Affect Individual Savings?	Abigail Tong Georgia College abigail.tong@bobcats.gcsu.edu
	Wealth Gaps of Different Asset Categories: A study between minorities and whites in America	Lubenian Powell, Sandon Presley, and Alex Rivera, Georgia Southern University lp05682@georgiasouthern.edu sandonp@gmail.com mr11838@georgiasouthern.edu
	Convergence of crime rates across the US states: What does it imply?	Emma Van Hee University of Tennessee at Chattanooga cll319@mocs.utc.edu
	A European Football Betting Model: Utilizing Poisson Distributions & Kelly Criterion to Maximize Profits	Kushal Shah \| James Hyman \| Dominic Samangy Syracuse University kshah07@syr.edu

Session 1B	PhD Competition 1
Day:	Thursday
Time:	8:00 – 9:45 AM
Zoom Link:	https://us02web.zoom.us/j/87137250072?pwd=ajQvQkxtS1VVZHN5OFM5RndHZVlOUT09
Passcode:	59i5Gp
Moderator:	Mark Sardy MSARDY@Rollins.edu
Faculty Judges:	Olivier Maisondieu Laforge, Steve Johnson, Nick Mangee, and Steve Jones

	Title	Presenter
	A State-Level Analysis of the Cost Efficiency of US Community Banks	Eduardo Minuci egm0007@mix.wvu.edu
	Employee Discrimination and Corporate Morale: Evidence from the Equal Employment Opportunity Commission	Spencer Barnes sbarnes3@fsu.edu
	Language and Foreign Direct Investment	Marcos Velazquez \| Xiaomeng Lu \| A.M. Parhizgari \| Le Zhao mavelazq@fiu.edu
	Courting Innovation: The Effects of Litigation Risk on Corporate Innovation	Mohammad Karim \| M. Kabir Hassan \| Reza Houston mskarim@uno.edu

Session 1C	General & Business Economics
Day:	Thursday
Time:	8:00 - 9:45 AM
Zoom Link:	https://shsu.zoom.us/j/88687324550
Passcode:	048249
Moderator:	Paul Haensly paulhaensly@sbcglobal.net

	Title	Presenter	Discussant
	A Study of Volatility in Exchange Rates	Aun Hassan	ATM Sayfuddin asayfuddin@randolphcollege.edu
	Do Stocks in the Energy Sector Enhance Diversification?	Paul J. Haensly	Aun Hassan aun.hassan@csupueblo.edu
	The role of brand affiliation in business performance: An investigation into the hotel industry	ATM Sayfuddin \| Mohammad Movahed	Paul J Haensly paulhaensly@sbcglobal.net

Session 1D	Finance Education 1
Day:	Thursday
Time:	8:00 - 9:45 AM
Zoom Link:	https://georgiasouthern.zoom.us/j/88633583664?pwd=QWpPM3RPbHBGMWFZcGJRVDdpVDR0QT09
Passcode:	252144
Moderator:	Alissa Lee alee@georgiasouthern.edu

	Title	Presenter	Discussant
	Retirement Planning: A personal finance topic that reinforces managerial finance learning outcomes	Joann Fredrickson	L V Ramana ramana@iimidr.ac.in
	Domestic, Short-term, Faculty-led, Study Away Programs: A Discussion of Real and Perceived Benefits from Participants and Professionals as well as Best Practices	Axel Grossmann \| Joseph Ruhland \| Allissa Lee	Joann Fredrickson joann.fredrickson@bemidjistate.edu
	Identifying research potential of a theme in finance	Venkata Ramana Lellapalli	Allisa Lee alee@georgiasouthern.edu

Session 2A	Undergraduate Competition 2
Day:	Thursday
Time:	10:00 – 11:45 AM
Zoom Link:	https://us02web.zoom.us/j/88547584004?pwd=VHZsQ2tUcUhOQVV0RUJ0bUh6elVPdz09
Passcode:	238244
Moderator:	Brooke Conaway brooke.conaway@gcsu.edu
Faculty Judges:	Heather Bono, Isarin Durongkadej, and Frank Stephenson

	Title	Presenter
	How Different ESG Factors Across Cultures Affect Financial Performance	Matej Susec Rollins College msusec@rollins.edu
	How to Allocate the NFL Salary Cap with a Highly Paid Quarterback	Zachary Koeppel Syracuse University zkoeppel@syr.edu
	Do Changes in SNAP Accessibility Affect Food Insecurity?	Kendyl Lewis Georgia College kendyl.lewis@bobcats.gcsu.edu
	A Student Perspective on Using Monte Carlo Simulation as a Tool to Predict Equity Target Prices: How Important are the Length of Input Periods, Sectors, and Market Conditions?	Joel Varghese Georgia Southern University jv01906@georgiasouthern.edu
	Determinates of Georgia Wild Turkey Harvests	Chavez Luckett and Evan Page Georgia Southern University cl09629@georgiasouthern.edu ep03479@georgiasouthern.edu

Session 2C	Corporate & Governance 1
Day:	Thursday
Time:	10:00 - 11:45 AM
Zoom Link:	https://unomaha.zoom.us/j/93085594235?pwd=dWNQT1EvNW8zQ2t0Z2RvODdzeGdBQT09
Passcode:	399841
Moderator:	Kath Henebry khenebry@unomaha.edu

	Title	Presenter	Discussant
	All aboard! Co-option and Working Capital Management	Md Rafayet Alam \| James Malm \| Nilesh Sah	Reza H. Chowdhury rchowdhury@mtroyal.ca
	Political, Economic, Financial Uncertainty and Real Earnings Management	Dave Jackson \| Hamid Sakaki \| Ajeet Jain	MD Rafayet Alam rafayet-alam@utc.edu
	Entrepreneurial culture and female entrepreneurship: Cross-country evidence with financial inequality	Reza H. Chowdhury \| Min Maung \| Lu Qiongfang	Dave Jackson dave.jackson@utrgv.edu

Session 2D	Economic Education 1
Day:	Thursday
Time:	10:00 - 11:45 AM
Zoom Link:	https://emmanuel.zoom.us/j/97424258199?pwd=b0EyQ09iRVZNVzk2OUF0UUFOS0RCQT09
Passcode:	EconEd
Moderator:	Rebecca Moryl morylre@emmanuel.edu

	Title	Presenter	Discussant
	Teaching with The Economist	Lucia Farriss \| Rebecca Moryl	Carolyne Soper soperc@ccsu.edu
	Teaching with the Macroeconomics simulation Econland	Tim Rogmans	Lucia Farriss lucia.farriss@saintleo.edu
	Deal or No Deal? Teaching the Concepts of Risk and Decision Making Through an Experience Learning Activity	Peter Brous \| Bo Han	Tim Rogmans tim.rogmans@zu.ac.ae
	Community Partner Involvement in the Assessment of Service Learning: A Case Study in the Economics of Social Issues	Carolyne Soper	Peter Brous pbrous@seattleu.edu

Session 3A	Household Finance
Day:	Thursday
Time:	1:15 – 3:00 PM
Zoom Link:	https://howard.zoom.us/j/84926750314?pwd=N25SaWllQ1U3RjZ1MWZScHRHdG1sdz09
Passcode:	02112131
Moderator:	Denise Streeter denise.streeter@howard.edu

	Title	Presenter	Discussant
	Empirical Analysis of Investor versus Non-Investor Decision-making and Behavior	William Barbee \| Denise W Streeter	Phyllis Y. Keys Phyllis.Keys@morgan.edu
	Financial Behavior and the Use of Technology	Xu Zhang \| Abeba Mussa \| Meeghan Rogers	Denise Streeter denise.streeter@howard.edu
	The Dodd-Frank Act and Regional Evidence on Financial Well-Being	Phyllis Y. Keys \| Cynthia B. Lloyd \| Jason Nunley, Jr.	Xu Zhang zhangx@farmingdale.edu

Session 3B	PhD Competition 3
Day:	Thursday
Time:	12:30 – 3:00 PM	** Please note early starting time
Zoom Link:	https://us02web.zoom.us/j/81198311162?pwd=VWt2WnE1aC9TSlQ0a1FrSzZPVnA5UT09
Passcode:	mMS5W9
Moderator:	Mark Sardy MSARDY@Rollins.edu
Faculty Judges:	Michael Toma, Sheryll Namingit, and Richard McGrath

	Title	Presenter
	Unprecedented Economic Uncertainty: An Examination of Cash Holdings during the Pandemic	Jason Nunley Jr. janun2@morgan.edu
	Using Property Rights to Fight Crime: The Khaya Lam Project	Kerianne Lawson knl0013@mix.wvu.edu
	The Price Effects of Regulation in the Funeral Industry	Noah Trudeau njt0013@mix.wvu.edu
	The Relationship between Political Contributions and Federal Earmarks	M Kabir Hassan \| Tahsin Imtiazul Huq \| Reza Houston tihuq1@uno.edu
	Profitability of a multi-product bio refinery	Abidemi T Adisa abidemi.adisa@ttu.edu

Session 3C	Econometrics & Economic Development
Day:	Thursday
Time:	1:15 - 3:00 PM
Zoom Link:	Click Here For Zoom Link
Passcode:	746112
Moderator:	Brian Payne brianpayne@unomaha.edu

	Title	Presenter	Discussant
	Finite sample results for lasso and stepwise partialling out Poisson	David M Drukker	Muhammad Mustafa mmustafa@scsu.edu
	Dynamic Linkage among Export, Import and Employment: Evidence from Dynamic OLS, GMM and ARDL Bound Test	Muhammad Mustafa and Haile Selassie	Scott Miller samiller@ut.edu
	The Effect of Currency Undervaluation on Income Inequality	Sarah Crane \| Scott Miller	David Drukker dmetriks@gmail.com

Session 3D	Finance Education 2
Day:	Thursday
Time:	1:15 - 3:00 PM
Zoom Link:	https://zoom.us/j/93063155248?pwd=SEkrdm9DRGxPelFBSDdGSVJHbVV6UT09
Passcode:	34567
Moderator:	Guohua Ma gma@scsu.edu

	Title	Presenter	Discussant
	Improving Farm Performance through Financial Literacy Education	Guohua Ma \| Wei Wan \| Aleksandar Stupar \| Tyrone Brunson \| Jada Diggs	Matthew M. Ross matthew.ross@wmich.edu
	An Advanced Capital Budgeting Application in Excel: Building a Bridge between Textbook Content and Real-World Application	Mary Funck \| Kurt Jesswein \| Robert Stretcher	Guohua Ma gma@scsu.edu
	Three Little Math Questions: I’ll Huff and I’ll Puff and I’ll Assess Who Is Ready for Finance	Matthew M. Ross \| A. Michelle Wright	Robert Stretcher rstretcher@shsu.edu

Session 4A	Financial Institutions & Services
Day:	Thursday
Time:	3:15 – 5:00 PM
Zoom Link:	https://gwu-edu.zoom.us/j/96853989415?pwd=NFprdmN1ZkJSU2NGbDd0b0JaNTdwUT09
Passcode:	198144
Moderator:	Garrison Song songh@farmingdale.edu

	Title	Presenter	Discussant
	Bank Selection Criteria: Evidence from American student before and during COVID-19	Yun Doo Lee	Zakaria Boulanouar zboulanouar@hct.ac.ae
	Revisit Closed-End Fund Puzzles via Dynamic Capital Mobility	Garrison Song \| Ajeet Jain	Yun Doo Lee yundoo7@gmail.com
	Is Islamic finance a substitute or a complement for conventional finance? Evidence from GCC	Zakaria Boulanouar \| Rihab Grassa	Ajeet Jain ajeetjain@ccsu.edu

Session 4C	Corporate & Governance 3
Day:	Thursday
Time:	3:15 - 5:00 PM
Zoom Link:	https://unomaha.zoom.us/j/97958674706?pwd=YlZOR0t1eG1MNGpDYzlqV2tuYmhSZz09
Passcode:	483561
Moderator:	Kath Henebry khenebry@unomaha.edu

	Title	Presenter	Discussant
	Predicting Distress: A Post Insolvency and Bankruptcy Code 2016 Analysis	Paras Arora \| Suman Saurabh	Steven T. Jones stjones@samford.edu
	The effect of fraud restatement spillover on lead lender's skin in the game	Tashfeen Hussain \| Miran Hossain	Suman Saurabh sumans@iitk.ac.in
	The Role of Institutional Investors in Pension Risk Transfers	Elisabeta Pana \| Mary McCarthy \| Andrew Weinberger	Tashfeen Hussain thussain@mtroyal.ca
	Hospital Frauds: How They Occur and What CPAs Can Do	Kevin Pan \| Cameron Pearce \| Steven T. Jones \| Zhenyu Lai	Elisabeta Pan epana@ccsu.edu

Session 4D	Real Estate Markets, Spatial Production Analysis, and Firm Locations
Day:	Thursday
Time:	3:15 - 5:00 PM
Zoom Link:	https://psu.zoom.us/j/96320102075?pwd=NUxmV080WjdmWTNtQ1FaTjFGOVpYQT09
Passcode:	410183
Moderator:	Indrit Hoxha ixh16@psu.edu

	Title	Presenter	Discussant
	A Spatial Approach for Examining the Effects of the Silver Comet Trail on Residential Property Values Using Repeat Sales	Heather R. Bono \| Mary Kassis \| William \"Joey\" Smith	Jason Beck jbeck@georgiasouthern.edu
	Housing markets liquidity and pricing in Florida	Indrit Hoxha	Heather R. Bono hrichard@westga.edu
	Priced to the Nines: Just-Below Pricing in Residential Real Estate	Jason Beck	Indrit Hoxha ixh16@psu.edu

Session 5A	Corporate & Governance 2
Day:	Friday
Time:	8:00 - 9:45 AM
Zoom Link:	https://uis.zoom.us/j/88324314856?pwd=OE5sNklOY2hqaHZsdjBCRHlac3BxUT09
Passcode:	762396
Moderators:	Serkan Kardas - serkankaradas@gmail.com

	Title	Presenter	Discussant
	Corporate Tax Avoidance and Political Uncertainty: Evidence from the presidential and gubernatorial elections in U.S.	Ajeet Jain \| Hamid Sakaki	Serkan Karadas serkankaradas@gmail.com
	The firm's dynamic environment and financial decisions: The case of stock split announcements	Steve Johnson	Ajeet Jain ajeetjain@ccsu.edu
	Sentiment and Style: Evidence from Republican Managers	Serkan Karadas \| Jorida Papakroni	Steve Johnson sjj008@shsu.edu

Session 5B	General Financial Markets
Day:	Friday
Time:	8:00 - 9:45 AM
Zoom Link:	https://tamusa.zoom.us/j/97756114712?pwd=MTAvb2ZnQmt1elowOEVBVExZZmQ4dz09
Passcode:	137155
Moderator:	Pablo Calafiore Pablo.Calafiore@tamusa.edu

	Title	Presenter	Discussant
	What is stock market reaction to fake news?	Maria Cristina Arcuri \| Gino Gandolfi \| Ivan Russo	Robert Killins bkillins10@yahoo.com
	Demand for IPOs and their pricing: Unravelling the Indian experience	Venkata Ramana Lellapalli \| Ashwin Yadav	Maria Cristina Arcuri mariacristina.arcuri@gmail.com
	Don’t Mix Your Politics With Your Portfolio: Evidence from the Canadian Equity Market	Robert Killins \| Thanh Ngo \| Hongxia Wang	LV Ramana ramana@iimidr.ac.in

Session 5C	Health & Welfare
Day:	Friday
Time:	8:00 - 9:45 AM
Zoom Link and Passcode:	https://utampa.zoom.us/j/99333257076?pwd=VGN5dFNPbk51VG1mUEZ1M1JqVW14Zz09
Passcode:	859651
Moderator:	Christopher Roby croby@ut.edu

	Title	Presenter	Discussant
	The Effect of an Increased Minimum Smoking Age on Smoking and Alcohol Consumption: Evidence from the Behavioral Risk Factor Surveillance System	Christopher Roby	Shahdad Naghshpour shahdad.naghshpour@aamu.edu
	The Impact of Human Health on Grassroots Entrepreneurial Based Economic Development	M. Tesfayohannes Beraki	Christopher Roby croby@ut.edu
	Convergence of Homicides in the United States	Sediq Sameem \| Shahdad Naghshpour	M. Tesfayohannes Beraki berakim@farmingdale.edu

Session 5D	Finance Education 3
Day:	Friday
Time:	8:00 - 9:45 AM
Zoom Link:	https://shsu.zoom.us/j/7052016223
Passcode:
Moderator:	Doug Berg dberg@shsu.edu

	Title	Presenter	Discussant
	Tools for Teaching Finance Effectively in Hybrid, Asynchronous, and Synchronous Online Deliveries	Christian C. Senk	Doug Berg dberg@shsu.edu
	Teaching Finance in a Time of COVID	Marc Jonathan Sardy \| Richard Alwyne Lewin \| Christine Jubelt	Christian C. Senk csenk@walsh.edu
	The Trials and Tribulations of Being a Webmaster for an Academic Association	Doug Berg	Marc Jonathan Sardy msardy@rollins.edu

Session 5E	Sports Economics
Day:	Friday
Time:	8:00 - 9:45 AM
Zoom Link:	https://syracuseuniversity.zoom.us/j/97597886969
Passcode:
Moderator:	Jeremy Losak jmlosak@syr.edu

	Title	Presenter	Discussant
	Do Fans Dig the Longball?	Frank Stephenson	Jeremy Losak jmlosak@syr.edu
	Small Betting Markets, Pricing, and Bettor Biases: The Case of the AHL	Rodney J Paul	Frank Stephenson efstephenson@berry.edu
	The Impact of College Conference TV Networks On College Football Attendance	Jeremy Losak \| Sam Marteka \| Mackenzie Mangos	Rodney Paul RPAUL01@SYR.EDU

Session 6A	Macroeconomics
Day:	Friday
Time:	10:00 - 11:45 AM
Zoom Link:	https://shsu.zoom.us/j/89681896983
Passcode:	654321
Moderator:	Robert Stretcher

	Title	Presenter	Discussant
	Inflation Targeting and Stock Market Development: A Difference and Difference Analysis in Developing Economies	Gokcen Ogruk-Maz \| Sinan Yildirim	Rattaphon Wuthisatian wuthisatr@sou.edu
	Does Expansionary Fiscal Policy have more effects on Goods Markets than contractionary Fiscal Policy? Evidence in Europe	Abdoul Wane \| Fazlul Miah	Gokcen Ogruk-Maz gogruk@txwes.edu
	Trust and Reciprocity: Examining Economic and Non-Economic Motivations	Rattaphon Wuthisatian	Fazlul Miah fmiah@kfupm.edu.sa

Session 6B	General Financial Markets 2
Day:	Friday
Time:	10:00 - 11:45 AM
Zoom Link:	https://shsu.zoom.us/j/83573437979
Passcode:	743209
Moderator:	Mary Funck mcf012@shsu.edu

	Title	Presenter	Discussant
	Dynamic Spillover and Contagion on Stock Returns in the UK, Germany, and France: Does Euro Matter?	Chunda Chen \| Wanwei Tang	MD Rafayet Alam rafayet-alam@utc.edu
	Exotic Structured Products - the Design and Pricing of Papillion Certificates	Rodrigo Hernandez \| Kaschia Wade \| Yingying Shao	Chunda Chen CHUNDA.CHEN@LAMAR.EDU
	Impact of oil shocks on commodity markets	MD Rafayet Alam	Rodrigo Hernandez rjhernand@radford.edu

Session 6C	Financial Institutions & Services 2
Day:	Friday
Time:	10:00 - 11:45 AM
Zoom Link:	https://unf.zoom.us/j/97910303281?pwd=SmMvZ0RuYm9qSmpRREhHNm9MMS9idz09
Passcode:	gdp
Moderator:	Nilufer Ozdemir n.ozdemir@unf.edu

	Title	Presenter	Discussant
	Do Sibling Characteristics Influence the Chance of Bank Failures?	Nilufer Ozdemir	Zakaria Boulanouar zboulanouar@hct.ac.ae
	The Dodd Frank Act: Impacts on Fiduciaries	Harrison Loew	Nilufer Ozdemir n.ozdemir@unf.edu
	Reexamining Banking Stability Using the New Sub-Panel Cointegration Test	Zakaria Boulanouar \| Hassan B. Ghassan	Harrison Loew Harrisonloew@yahoo.com

Session 6D	Economic Education 2
Day:	Friday
Time:	10:00 - 11:45 AM
Zoom Link:	https://unomaha.zoom.us/j/94769386569?pwd=NjBibmY1ZncrYytzb01iZ1hvQlhoQT09
Passcode:	056111
Moderator:	Kath Henebry khenebry@unomaha.edu

	Title	Presenter	Discussant
	The Elephant in the room: The Influence of Financial Literacy Exercises on Students' attitudes toward life choices	Edirel Susanna \| Guido Rojer, Jr.	Mary Funck mcf012@shsu.edu
	Does Attending Minority Serving Institutions Affect Retention and Completion? A Propensity Score Matching Approach	Xueyu Cheng	Guido Roje, Jr g.rojer@uoc.cw
	(L)Earn Before You Spend. The Role Of Education On Financial Resilience Of Millennials During The Covid Pandemic: The Case Of Curaçao	Karim Saab \| Guido Rojer	Xueyu Cheng xueyucheng@clayton.edu

Session 7A	Structure & Scope of Government
Day:	Friday
Time:	1:15 - 3:00 PM
Zoom Link:	https://wvu.zoom.us/j/93826380946?pwd=R1JldEQ3cTlna2t2b1RKd1AyaFY1QT09
Passcode:	Z1BvCckz
Moderator:	Joshua Hall Joshua.Hall@mail.wvu.edu

	Title	Presenter	Discussant
	Institutional Structures, Regulation, and Producer Gains in the Education Industry: An Extension of Toma (1983)	Joshua Hall \| Nathaniel Smith	Fazlul Miah fmiah@kfupm.edu.sa
	The Birth of Pandemic Economics	Thomas Sadler	Joshua Hall joshua.hall@mail.wvu.edu
	Further Evidence on Information Rigidity in Output and Inflation Forecasts	Fazlul Miah	Thomas Sadler TR-Sadler@wiu.edu

Session 7B	International Finance & Trade
Day:	Friday
Time:	1:15 - 3:00 PM
Zoom Link:	https://gwu-edu.zoom.us/j/95136929816?pwd=eW85WjBjZ2VkWEYvRDY4NWdjeWVWQT09
Passcode:	391772
Moderator:	Garrison Song songh@farmingdale.edu

	Title	Presenter	Discussant
	Firm Level Trade Effects of WTO Accession: Evidence from Russia	Anna Miromanova \| Anca Cristea	Garrison Song songh@farmingdale.edu
	The Determinants of Management Performance after the Global Crisis	Janikan Supanvanij	Anna Miromanova miromanna@gmail.com
	Tax Benefits, Peer Pressure and Corporate Inversions	Robinson Reyes-Pena	Janikan Supanvanij Janikan@gmail.com
	Valuation of Cryptocurrency without Intrinsic Value: A Promise of Future Payment System and Implications to De-dollarization	Garrison Song	Robinson Reyes-Pena roreyes@fiu.edu

Session 7C	Demographic Economics
Day:	Friday
Time:	1:15 - 3:00 PM
Zoom Link:	https://hct.zoom.us/j/91739272251?pwd=RnhNWW1jblk4bXRjV3FFa0RKWUtOQT09
Passcode:	899667
Moderator:	Zakaria Boulanouar zboulanouar@hct.ac.ae

	Title	Presenter	Discussant
	Access to Capital for African American Women Entrepreneurships	Jennifer Brodmann \| Sherine El Hag \| Monique Turner	Richard McGrath rmcgrath@georgiasouthern.edu
	The Motives of Intergenerational Transfers in China	Kwok Ho Chan \| Wangnong Liao	Jennifer Brodmann jbrodmann@csudh.edu

Session 7D	Financial Institutions and Services 3
Day:	Friday
Time:	1:15 - 3:00 PM
Zoom Link:	https://howard.zoom.us/j/88295759650?pwd=b28xYkhQMkhRY2JSR0I0ZHNCSHVXUT09
Passcode:	02122174
Moderator:	Denise Streeter denise.streeter@howard.edu

	Title	Presenter	Discussant
	The Effects of Interest and Non-interest Income on Bank’s Return: Evidence from Hong Kong	Kenneth A. Tah \| Elizabeth Noelle Merchant \| Kylie Keeling	M. Kabir Hassan mhassan@uno.edu
	The impact of cybersecurity breaches on the lending practices of U.S. banks	Asligul Erkan \| Denise W. Streeter \| Rajni S. Goel	Kenneth A. Tah tah_ka@mercer.edu
	Weathering the COVID-19 Storm: The Case of Community Banks	M. Kabir Hassan	Denise Streeter denise.streeter@howard.edu

Session 8A	Measuring the Impact of COVID-19
Day:	Friday
Time:	3:15 - 5:00 PM
Zoom Link:	https://psu.zoom.us/j/97960947325?pwd=RFptY0dCMnp0eEhEbXB6MWlFUGczZz09
Passcode:	003715
Moderator:	Idrit Hoxha ixh16@psu.edu

	Title	Presenter	Discussant
	The Impact of COVID-19 on Persistence and Seasonality: An Analysis of Croatian Tourism	James E. Payne \| Andrea Mervar \| Luis A. Gil-Alana	Luis Raúl Rodríguez-Reyes luisreyes@iteso.mx
	The Impact of the Covid-19 Pandemic Shutdown on the Long Island, NY Regional Economy	Richard Vogel	James Payne jpayne2@utep.edu
	A Financial Model to Value Dinner Bonds Issued During COVID-19 Lockdowns	Luis Raúl Rodríguez-Reyes	Richard Vogel vogelrm@farmingdale.edu

Session 8B	General Finance
Day:	Friday
Time:	3:15 - 5:00 PM
Zoom Link:	https://howard.zoom.us/j/87938956624?pwd=d2VucU1oVkY1UTZzck90ay9LK2IrQT09
Passcode:	02122182
Moderator:	Denise Streeter denise.streeter@howard.edu

	Title	Presenter	Discussant
	Information Asymmetry, Internet Technology, and Competition in the U.S. Auto Industry	Yu Peng Lin	Jennifer Kuklenski jkuklenski@northland.edu
	Pricing Kernel Puzzle in the Indian Financial Market	Suman Saurabh \| Sachin Angural \| Jay Gupta	Yu Peng Lin linyp1@udmercy.edu
	Diversity, Innovation & Environmental Sustainability in Corporations	Jennifer Kuklenski	Suman Saurabh sumans@iitk.ac.in

Session 8C	Market Performance
Day:	Friday
Time:	3:15 - 5:00 PM
Zoom Link:	https://shsu.zoom.us/j/83090799410
Passcode:	881448
Moderator:	HOST: Paul Haensly paulhaensly@sbcglobal.net

	Title	Presenter	Discussant
	An Assessment of the Relationship between Sweetener Prices and High Fructose Corn Syrup Deliveries in the United States	P. Lynn Kennedy \| Pablo A Garcia-Fuentes \| Gustavo Ferreira	Stafford Johnson johnsons@xavier.edu
	Informational Effects on Firm Growth Forecasts Under the Knightian Uncertainty Hypothesis	Nicholas Mangee	Pablo A Garcia-Fuentes pablo.fuentes@msutexas.edu
	Valuing Equity Using the Black-Scholes Option Pricing Model	Stafford Johnson	Nicholas Mangee nmangee@georgiasouthern.edu

Session 8D	Education / Educational Institutions
Day:	Friday
Time:	3:15 - 5:00 PM
Zoom Link:	https://morganstate.zoom.us/j/84866673611?pwd=RTRnVlQvTzF3bFR5cVFsOWhhWHpoUT09
Passcode:	695698
Moderator:	Phyllis Keys phyllis.keys@morgan.edu

	Title	Presenter	Discussant
	The Extent and Cost of Common Stigmas Among University Students	Tomi Ovaska \| Ying Tang \| Sharon Stringer	Jocelyn Evans evansj@cofc.edu
	CSR integration in higher education institutions: identification, description and categorization of maturity criteria	Fabio Pizzutilo \| Elisabetta Venezia	Tomi Ovaska tpovaska@ysu.edu
	The Positive Impact of Education on the Declining Labor Productivity of an Aging Workforce	Michelle Casario \| Gerard T. Olson \| Mark A. Olson \| Peter Zaleski	Fabio Pizzutilo fabio.pizzutilo@uniba.it
	Diversity in Accounting & Finance Education	Jocelyn Evans \| Timothy Jones \| Phyllis Y. Keys	Gerard Olson golson@villanova.edu

Business Meeting

Agenda

Friday, February 12, 2021

5:30 - 7:30 p.m. (CST)

Zoom Link: https://unomaha.zoom.us/j/97360093547?pwd=bURRdUZkSzRJL0tWK1RDUVV6OUZ2dz09

Passcode: 212763

Item No.	Item	Speaker
1	Welcome, Call to Order, and Establishment of Quorum	S. Margetis
2	Appointment of Parliamentarian	S. Margetis
3	Approval of Minutes from the 2020 Executive Committee Meeting	S. Margetis
4	Secretary’s Report	K. Henebry
5	Treasurer’s Report	R. Vogel
6	Report of the Nominating Committee and Elections	S. Margetis
7	Journal of Economics and Finance, Editor’s Report	J. Payne
8	Journal of Economics and Finance Education Editor’s Report	F. Stephenson
9	Academy of Economics and Finance Journal	M. Toma
10	Papers and Proceedings Editor’s Report	M. Toma & N. Mangee
11	Web Page Administrator	D. Berg
12	Local Arrangements Chair Report 2021 Meeting	M. Sardy
13	Site Selection Committee Report 2022-3 Meetings	R. McGrath
14	Teacher Training Program Report	J. Beck & M. Funck
15	Program Chair Report 2021	M. Funck
16	First Vice President’s Report	A. Mussa
17	Second Vice President’s Report	M. Sardy
18	Edward Nissan Undergraduate Papers Competition	B. Conaway
19	Nominations of Teaching/Research/Service Fellows	Stretcher/Kassis/Graham
20	Nomination of Honorary Members	S. Margetis
21	Nomination of Fellow of the AEF	S. Margetis
22	Old Business	S. Margetis
	a.
23	New Business	S. Margetis
	a.
24	Hand off to new President and presentation of plaque to S. Margetis	M. Funck

Election of Officers and Directors

Friday February 12, 2021

Ballot

This poll is no longer accepting votes

Teacher Training Program

Saturday, February 13, 2021 8:30 - 11:50 a.m. (CST)