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Review of Accounting Studies 2013 Conference


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Review of Accounting Studies 2013 Conference

November 8-9, 2013, Cheung Kong Graduate School of Business (CKGSB) in Beijing, China.


The Editors of the Review of Accounting Studies are pleased to announce a conference on "Current Topics in Accounting Research", to be hosted at the Cheung Kong Graduate School of Business (CKGSB) in Beijing, China, on November 8-9, 2013. Papers accepted for the conference are also considered for publication in a conference issue of RAST.



Time and Venue:

November 8 & 9, 2013

Cheung Kong Graduate School Of Business

20/F, Tower E2, Oriental Plaza

1 East Chang An Avenue

Beijing, China


Attendees staying at the Grand Hyatt are only a short walk away from the conference venue. From the lobby of the Grand Hyatt, exit left, walk straight and pass through the intersection. After less than five minutes, you will arrive at Tower E2, opposite Starbuck's, besides Tower E3 (the Ernest and Young Building). The conference will take place in CKGSB's 20th floor classrooms at Tower E2.


Oriental Plaza Location Map



Oriental Plaza Site Plan



Public Transportation




If you have any questions or concerns regarding RAST Conference registration, please contact Weining Zhang:



2013 Review of Accounting Studies Conference

November 8-9,2013 • Beijing




Emergency Contacts

Weining Zhang

Assistant Professor

Faculty ,CKGSB (China)

M +86 18601998077

Yi Li

Assistant Manager

Investment Research Center,CKGSB (China)

M +86 13911300796

Friday, November 8, 2013


Half day cultural visit

Tiananmen Square

and Forbidden City

1:30pm – 1:50pm

Registration and Reception

Classroom 9&10,20/F

Building E2,Oriental Plaza


Welcome Remarks

Jing Liu, Associate Dean, Cheung Kong Graduate School of Business

Classroom 9&10


Session I

Paper: “Inter-Industry Network Structure and the Cross-Predicatability of Earnings and Stock Returns”

Authors: Daniel Aobdia, Judson Caskey, and Bugra Ozel

Presenter: Bugra Ozel, UCLA Anderson School

Discussant: Rebecca Hann, University of Maryland

Classroom 9&10

3:30pm - 4:00pm

Coffee Break


4:00pm - 5:30pm

Session II

Paper: “Board interlocks and the diffusion of disclosure policy”

Authors: Ye Cai, Dan Dhaliwal, Yongtae Kim and Carrie Pan

Presenter: Yongtae Kim,Santa Clara University

Discussant: Weining Zhang,Cheung Kong Graduate School of Business

Classroom 9&10

5:30pm - 5:40pm

Walk to the hotel for dinner

Grand Hyatt Hotel

5:40pm - 6:30pm


Grand Ball Room II

6:30pm - 7:20pm

Speech by Dr. Bin Qi, Director of China Securities Regulatory Commission

Grand Ball Room II

7:20pm – 8:30pm

Welcome Dinner

Grand Hyatt Hotel

Saturday, November 9, 2013


Session III

Paper: ”Does the Market Overweight Imprecise Information?: Evidence from Customer Earnings Announcements”

Authors: Agnes Cheng and John Eshleman

Presenter: Agnes Cheng, Hong Kong Polytechnic University

Discussant: Haitao Li, Cheung Kong Graduate School of Business

Classroom 9&10

10:30am - 11:00am

Coffee Break


11:00am - 12:30pm

Session IV

Paper: “Evaluating Cross-Sectional Forecasting Models for Implied Cost of Capital”

Authors: Ke Li and Partha Mohanran

Presenter: Ke Li, University of Toronto

Discussant: Mei Feng, Cheung Kong Graduate School of Business

Classroom 9&10

12:30pm - 2:00pm


Lunch buffet


Session V

Paper: “Do Loan Loss Reserves Behave like Capital? Evidence from Recent Bank Failures”

Authors: Jeff Ng and Sugata Roychowdhury

Presenter: Sugata Roychowdhury, Boston College

Discussant: Jie Gan, Cheung Kong Graduate School of Business

Classroom 9&10

3:30pm - 4:00pm

Coffee Break



Session VI

Paper: “Equilibrium Earnings Management and Managerial Compensation in a Multiperiod Agency Setting”

Authors: Sunil Dutta and Qintao Fan

Presenter: Qintao Fan, University of Illinois

Discussant: Ivan Marinovic, Stanford University

Classroom 9&10

5:30pm - 5:40pm

Concluding Remarks

Jing Liu, Associate Dean, Cheung Kong Graduate School of Business


5:40pm - 6:30pm

Bus transfer to dinner



Gala Dinner

Mei Mansion Restaurant
No. 24, Da Xiang Feng Hutong, Xicheng District


Bus transfer to Grand Hyatt Hotel


Sunday, November 10, 2013

(courtesy of CKGSB)


Bus transfer to cultural visit



Full day cultural visit

Temple of Heaven



Chinese cuisine restaurant


Full day cultural visit

Great Wall at Badaling Section


Bus transfer to Grand Hyatt Hotel


End of the conference


“Inter-Industry Network Structure and the Cross-Predictability of Earnings and Stock Returns”

 Authors: Daniel Aobdia, Judson Caskey, Bugra Ozel

Presenter: Bugra Ozel

Discussant: Rebecca Hann


 “Does the Market Overweight Imprecise Information? Evidence from Customer Earnings Announcements”

Authors: Agnes Cheng , John Eshleman

Presenter: Agnes Cheng

Discussant: Haitao Li


“Do Loan Loss Reserves Behave like Capital? Evidence from Recent Bank Failures”

 Authors: Jeffrey Ng ,Sugata Roychowdhury

Presenter: Sugata Roychowdhury

Discussant: Jie Gan



“Evaluating Cross-Sectional Forecasting Models for Implied Cost of Capital"

 Authors: Kevin Li , Partha Mohanram

Presenter: Ke Li

Discussant: Mei Feng


“Equilibrium Earnings Management and Managerial Compensation in a Multiperiod Agency Setting”

 Authors: Sunil Dutta , Qintao Fan

Presenter: Qintao Fan

Discussant: Ivan Marinovic


“Board interlocks and the diffusion of disclosure policy”

Authors: Ye Cai, Dan Dhaliwal, Yongtae Kim, Carrie Pan

Presenter: Yongtae Kim

Discussant: Weining Zhang


Hotel Information

Grand Hyatt Beijing

Address: 1 East Chang An Avenue, Beijing, People’s Republic of China

Tel: +86 10 8518 1234

Hotel Booking: CLICK HERE


To receive the special conference rate be sure to:

  • ▪ Identify yourself as attending the 2013 Review of Accounting Studies Conference.
  • ▪ Make your reservations by October 15, 2013.
  • ▪ A credit card guarantee is required to confirm your reservation.
  • ▪ If you need transportation to and from the airport, you can either take a taxi or arrange limo service. To take a taxi from the airport, follow the signs at Terminal 2 or 3: this is an easy and convenient option, but be sure to have the name of the hotel printed out in Chinese. For limo service, please contact the Hyatt to make arrangements. Call +86-10-8518-1234 ext. 6396, or email An Audi A6L between the Beijing Capital Int'l Airport and the hotel can be arranged for CNY700 per car per way, or a Benz S350 at CNY1020 per car per way.


NOTE: It only takes about 3 minutes to walk from the hotel to Cheung Kong Graduate School of Business


Room Rate:


Single Rate

Double Rate

Grand Room



Grand Premium Room



Grand Deluxe Room



*Club Room



*Club Premium Room



*Club Deluxe Room



*Grand Suite



* Includes our Grand Club benefits. Please refer Hotel Information sheet for more details.


Above rates are quoted in CNY on per room, per night basis, subject to 15% surcharge and no-commissionable.


Rates are inclusive of buffet breakfast at Grand Café on 2/F or Made in China on lobby level for Grand Room and Grand Deluxe Room. Guests taking Club and Suite accommodation will have breakfast at the Grand Club Lounge on 17/F.


Room rate is also inclusive of basic wireless internet connection. Wireless connection can be used in guest rooms, meeting rooms and all food and beverage venues.


For additional details, please visit the Grand Hyatt Beijing website.


Below please find the information for your visa application.


There are two options for your reference:

1.       Business visa


We will issue a visa letter to you for the business visa application. 


2.       Tourist visa


Applying for short-term 'tourist' visas, the process is simple, and you need to find a local travel agency to apply for it.


For more information, please check the website of Embassy of the People's Republic of China in the United States of America:




This document is intended to provide general information for visitors to Beijing, China.

Relevant specific details about your visit including contact details, program,
accommodation and transportation arrangements will be provided separately.




Area 16,807 sq miles
Population 13.8 million (permanent residents)
Capital  Capital of PRC
Language Mandarin (Putonghua)
Currency Renminbi (RMB), also known as Yuan or Kuai
$1 = RMB 6.1 (approx)




Beijing is a relatively safe city, but you should not forget to apply common sense and
caution. It is worthwhile to be prudent and take simple precautions. There may be pick-pockets in crowded locations. Particular care should be taken on public transport
and in the area around the Silk Market and Yashow Market. Valuables should be put into
a front, rather than back pocket, or in a bag out of sight to avoid tempting and giving
opportunity to thieves. You can generally get taxis late at night but the same caution in
taking taxis alone late night should be exercised as in any other major city.




Hotels almost always have a clinic and doctor on call. You should buy medical insurance
before your departure. Any preferred remedies or prescriptions should be brought with
you, since they are unlikely to be available locally.


There are Western medical facilities available in Beijing (see emergency contact list
below). However, fees are quite expensive with an average brief consultation costing
approximately $100 - $150. If you do need to go to a hospital you will be asked to pay in
advance so make sure you have cash or a credit card available. You will also need to
have details of your insurance with you.


There are, of course, traditional Chinese medicines alternatives that you might wish to
try. This might be difficult unless you have knowledge of the language or assistance
from a local resident.


Hotel staff will also always help in an emergency.


Medical emergency numbers in Beijing


Local First-aid Emergency Call (24 hours) 120


International SOS (24hours) Tel: 6462 9100, Clinic: 6462 9112


Beijing United Family Hospital (24 hours) Tel: 59277000


German Embassy Doctor (10am – 12 noon)
No appointment necessary
Direct Line: 6532 3515, Office Hours: 6532 2161


International Medical Centre (24 hours) Tel: 6465 1561/2/3
Dental: (9:30am - 6:00pm Mon - Fri and 9:00am - 2:00pm Sat)
Tel: 6465 1384 or 6465 13943





Transport from the airport: Beijing's airport is about 25km from the centre of town.
There 3 terminals in Beijing Capital Airport. International airlines normally arrive at
terminal 3. Ignore the touts in the arrivals hall and go to the taxi rank directly. In terminal
1 & terminal 2, the taxi rank is out side the terminal. In terminal 3, the taxi rank is located
in the basement. It is best to follow signage and have your destination written down in
Chinese. Do not board taxis without meters and make sure the taxi driver turns the
meter on. If you cannot find a taxi with a meter negotiate the price with the taxi driver
before you leave. The fare into the city should be between ¥100 & ¥150.


Transport around Beijing: Taxis are the easiest way to get around. Taxis are metered
and the fare starts at ¥13 (from 11:00pm to 6:00am the fare starts at ¥14). You can pick
them up outside hotels or in the street even late at night but it can be more difficult when
it is raining and snowing. The taxi rate is ¥2.00 per km, if in exceed of 3 km, an extra
¥1.00 will be charged as a gas surcharge.


Although some taxi drivers may speak a little English you should have your destination
written down in Chinese (characters). Hotel staff will be able to help you with their name
in Chinese. It is also a good idea to have small change on hand to pay the fare.

Many tourists find the public transport fun to try a couple times, but it is not as easy.
Buses can be difficult without knowledge of the language; they cost ¥1 for a single
journey. Beijing also has an underground system which has been hugely expanding.

Platform signs are in Chinese characters and Pinyin (Chinese written in Roman alphabet)
and stations are normally announced in English over a loudspeaker system on the train.
A journey costs 2 Yuan (¥2) per trip for Line 1, 2, 4, 5, 10, 13 and Baton Line. The
subway system opens at 5:00am and runs until about 23:00pm. Beijing Subway Map is
as below.




Mandarin Chinese is the official language of China (called Putonghua by the Chinese).
Chinese characters are used for writing, though many signs on roads and in shops now
also appear in Pinyin, which is the Romanised version of written Chinese. A small
amount of English is spoken in most hotels, the larger department stores and tourist
sites, but it would be useful to have a phrase book to hand. Mandarin is a tonal language
(4 tones), so that the same word pronounced in different tones will have completely 6
different meanings. For this reason some Chinese may find it difficult to understand what
you are saying in Chinese unless the tone is correct. On the whole, however, people are
very patient. With a bit of English on their part and some sign language, you can
normally get the message across.


Ni hao (knee how) = Hello
Xie xie (sh-yeah sh-yeah) = Thank you
Zai jian (dsai jien) = Goodbye (although bye bye is also common)
Wo shi… (wor sher) = I am….. (a simple way to introduce yourself)
Mai dan (my done) = Pay the bill (a short phrase used to ask for the bill and
understandable in Mandarin and Cantonese)




Business hours


Office hours are generally a standard 8:30am or 9am to 5pm or 5:30pm (with some
individual differences depending on the industry). Some more local places close for
lunch (11:30am to 1:00pm). Shops tend to open from 9 or 10am to about 10pm, and
bars and night clubs are open until about 2am.




Airmail letters/parcels to and from the US take 4-10 days. There are international post
offices around Jianguomenwai and Sanlitun in Chaoyang District. Parcels must be
sealed at the post office after inspection. International postage rates are expensive but
the service is generally reliable.




To reach the US, once you have an outside line, dial 00 1, then drop the first zero of the
city number.


Mobile phones


There is a very good network in Beijing so it is worthwhile activating international
roaming with your service provider before you arrive. Another option is to purchase a
‘pay as you go’ SIM card when you arrive. This is very cheap at around RMB100 for the
SIM card, which will contain around RMB50 credit.





The seasons in Beijing fall at roughly the same time as in the US. The winters are dry
and cold, and the summers can be very hot and sometimes humid. It can be fairly windy
particularly in spring, when sand from the Gobi Desert, which comes in the form of dust,
can be blown over the city. It is advisable to bring clothing that can be worn in layers as
venues and restaurants can be either quite cold or over-heated. Your hotel room should,
however, be comfortably maintained. Shoes always get dusty and dirty.


Below is the average data of every month.           

Month Jan  Feb Mar Apr May  Jun  Jul  Aug  Sep  Oct  Nov  Dec
Temperature (C) -4.6 -2.2 4.5 13.1 19.8 24.0 25.8  24.4 19.4 12.4 4.1 -2.7
Rainfall (cm) 3.0 7.4 8.6 19.4 33.1 77.8 192.5 212.3 57.0 24.0 6.6 2.6
Days of rainfall 2.0 3.1 4.1 4.6 5.9 9.7 14.1 13.2 6.8 5.0 3.7 1.6


Chinese often dress fairly informally. A simple suit or day dress is appropriate for all
official visits, meetings and dinners. Trousers are also perfectly acceptable for women.
Women should take care that they do not wear low cut and revealing tops as this is not
usual in China.




The Chinese currency is known as ‘Renminbi’ (or RMB), the term equivalent to dollars is
the 'Yuan' (¥), also known colloquially as 'Kuai' (pronounced "kwai"). At the current
exchange rate, 1 dollar is approximately equal to 6.1 Yuan Renminbi.


Foreign money and traveller cheques can be changed at international airports, main
centres of the Bank of China, large tourist hotels and some big department stores. The
official rate is given everywhere, so there is no need to shop around.


Credit cards are accepted in major hotels, some restaurants and some supermarkets,
although certainly not very widely. It is advisable to carry cash instead. You can use
international debit and credit cards to withdraw cash in the local currency. These include
Visa, MasterCard. This service is not available at all local cash machines, and is most
common at Bank of China machines.


Be aware that it may prove very difficult to buy inexpensive items with large bills,
especially in small shops. Make sure to carry small change around with you whenever
you can.


Forgeries, as in many countries, are in circulation, particularly of ¥50 notes. Also, be
aware when handing over ¥100 bills that it is not quickly changed with a fake one and
handed back to you in (apparent) disgust.





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