各位學界的朋友，大家好：

國立臺灣大學計量理論與應用研究中心 (CRETA)、國立臺灣大學財務金融學系及臺灣經濟計量學會 (TES) 將於 2019年 04 月 25 日共同舉辦 CRETA Seminar @TES。相關資訊如下：

【日期】2019 年 04 月 25 日 (週四) 下午2:00~4:50

【地點】集思台大會議中心 B1 達文西廳

【講者】Professor Shu-Feng Wang (College of Business Administration, Ajou University)

【演講主題】Allocation of Attention and the Delayed Reaction of Stock Returns to Liquidity Shock: Global Evidence
 
【講題摘要】
For 40,000 stocks from 40 countries, we find significant delay in the response of stock returns to liquidity shock. Our measure of delay is larger in countries with good informational environment and with high individualism even after controlling for institutional frictions such as market illiquidity, stock market development, and short-sale constraint. The delay is reduced in large down market, while it is not in large up market. Our findings imply that investor inattention is an important source of price delay and that the attention allocation is affected by country’s informational environment and culture. Overall, our findings suggest that high informational quality at the country-level may work as a friction by inducing the failure of optimal allocation of attention.
 
【講者介紹】
Professor Wang is an assistant professor of Finance at Ajou University since March 2019. Before she joined Ajou Business School, she served as an assistant professor in finance at National Central University and Sungkyunkwan University. Her research interest covers empirical asset pricing, international finance, short-selling and control related issue in emerging market business group. She is currently involved in multiple projects regarding liquidity risks, tail risks and their pricing implication in international financial markets. She has published journals such as JBF, JCF, and PBF.
 
【會程安排】
下午 1：30 ~ 2：00 報到
下午 2：00 ~ 3：20 First session
下午 3：20 ~ 3：40 Tea Break 
下午 3：40 ~ 5：00 Second session

為方便場地安排及人數預估，欲參加CRETA Seminar的朋友們，煩請事先報名，當天講義將優先提供給報名者

【報名網址】http://t.cn/EXxzPah 

【報名費用】台灣大學在學學生及現任教職員和台灣經濟計量學會會員為免費參加，其他參加者報名費為NT$200 (當天將開放現場繳交台灣經濟計量學會 2019 年年度會費)。

【報名期限】2019/04/24 (三) 13:30

歡迎各位踴躍參加！！

為方便臺灣經濟計量學會 (TES) 會員繳納 108 年度會費，本次活動開放現場繳納會費，亦歡迎大家介紹非會員朋友加入 TES。更多研討會資訊請見 TES 網站：http://t.cn/EXxzIs9

此外，臺灣經濟計量學會新開設臉書粉絲專頁，歡迎各位舊雨新知按讚及追蹤我們各項活動的最新訊息！網址如下：http://t.cn/EXxzSVs