DBJ International Conference on Sustainability
—CSR, the Economy and Financial Markets
Outline
On November 9-10, 2017, RICF held an international conference entitled CSR, the Economy and Financial Markets. In Part I (Nov. 9), a lecture and a speech were delivered from the perspective of sustainability, followed by a panel discussion regarding the role of firms and financial markets for a sustainable economy. In Part II (Nov. 9 and 10), in collaboration with Global Finance Journal, a keynote speech was given by Professor Megumi Suto, and high quality academic studies were presented by overseas researchers regarding the economic effects of corporate social responsibility.
Overview
| Venue (Date): | Otemachi Financial City South Tower, 3rd Floor Conference Center (Nov. 9) Otemachi Financial City South Tower, 5th Floor FINE TOKYO (Nov. 10) |
|---|---|
| Organizer: | Research Institute of Capital Formation (RICF), Development Bank of Japan |
| Co-host: | Japan Economic Research Institute |
Part I
Program
November 9 (Thu.)
3rd Floor, Conference Center
| 14:00 | Opening Remarks Hideo Oishi—Executive Director, Research Institute of Capital Formation (RICF), Development Bank of Japan |
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| 14:10-14:20 | Video Letter | Sustainability Management and Integrated Reporting Richard Howitt—Chief Executive Officer, International Integrated Reporting Council (IIRC) |
| 14:20-14:40 | Keynote Speech | The Key Factors for Sustainability Reporting Tetsuo Kitagawa—Professor, Aoyama Business School |
| 14:40-15:00 | Lecture | The Global Rules and Guidelines for Sustainability Issues Keiichi Ushijima—Leader, Climate Change and Sustainability Services (CCaSS), EY Japan |
| 15:10-16:40 | Panel Session Toward Sustainability: The Role of Companies and Investors | |
| Panelists | Tetsuo Kitagawa—Professor, Aoyama Business School Keiichi Ushijima—Leader, Climate Change and Sustainability Services (CCaSS), EY Japan Minoru Matsubara—Chief Manager, Asset Management Division, Responsible Investment Group, Resona Bank |
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| Moderator | Keisuke Takegahara—Chief Manager, Sustainability Management Office, Corporate Planning & Coordination Department, Development Bank of Japan | |
Part II
Program
November 9 (Thu.)
3rd Floor, Conference Center
| 17:00-17:30 | Keynote Speech | Corporate Social Responsibility and Corporate Finance in Japan Megumi Suto—Professor, Waseda University |
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| 17:50-19:30 | Welcome Reception | |
November 10 (Fri.)
5th Floor, FINE TOKYO
| 10:00-10:10 | Opening Remarks Ali M. Fatemi—Professor, DePaul University / Editor-in-Chief, Global Finance Journal |
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|---|---|---|
| Chair | Session 1 Hitoshi Takehara—Waseda University |
Session 2 Kazuhiko Ohashi—Hitotsubashi University |
| 10:10-10:50 |
Are More Corporate Social Investments Better?: Evidence of Non-Linearity Effect on Costs of U.S. Bank Loans
Sung C. Bae (Bowling Green State University), Kiyoung Chang, and Ha-Chin Yi
Discussant: Sadok El Ghoul (University of Alberta)
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Is "Being Green" Rewarded in the Market?: An Empirical Investigation of Decarbonization and Stock Returns
Soh Young In (Stanford Global Project Center), Ki Young Park, and Ashby Monk
Discussant: Samuel Hartzmark (University of Chicago)
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| 10:50-11:30 |
Does Corporate Social Responsibility Add Value?: Evidence from Capital Structure and Product Markets Interactions
Sadok El Ghoul (University of Alberta), Kee-Hong Bae, Omrane Guedhami, Chuck C.Y. Kwok, and Ying Zheng
Discussant: John Nofsinger (University of Alaska, Anchorage)
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The Effect of Corporate Social Responsibility Disclosure on the Cost of Equity of Firms and the Moderating Role of Ownership
Rezaul Kabir (University of Twente), and Hanh Minh Thai
Discussant: Yupana Wiwattanakantang (National University of Singapore)
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| 11:30-12:10 |
Are Socially Responsible Firms Less Likely to Restate Earnings?
John Nofsinger (University of Alaska, Anchorage), Iuliia Chepurko, Ajit Dayanandan, and Han Donker
Discussant: Martin Glaum (Otto Beisheim School of Management)
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Do Investors Value Sustainability?
Samuel Hartzmark (University of Chicago) and Avigail Sussman
Discussant: Vikas Mehrotra (University of Alberta)
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| 12:10-13:30 | Networking Buffet Lunch | |
| Chair | Session 3 Katsuyuki Kubo—Waseda University |
Session 4 Megumi Suto—Waseda University |
| 13:30-14:10 |
Is Privatization a Socially Responsible Reform?
Omrane Guedhami (University of South California), Narjess Boubakri, Chuck C.Y. Kwok, and He Wang
Discussant: Rezaul Kabir (University of Twente)
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Empirical Evidence on Corporate Social Responsibility in India: Effect on Financial Performance and Firm Valuation
Puneeta Goel (Amity University)
Discussant: Vikas Mehrotra (University of Alberta)
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| 14:10-14:50 |
Impact of Shareholder-Value Pursuit on Labor Policies at Japanese Joint-Stock Companies: Case of Nikkei Index 400
Kostiantyn Ovsiannikov (University of Tsukuba)
Discussant: Gabriel Eweje (Massey University)
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Adding or Saving? The Value of CSR Disclosure
Antai Li (Huazhong University of Science and Technology), Xinping Xia, and Shen Xu
Discussant: Richard Gregory (East Tennessee State University)
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| 14:50-15:30 |
Genuine Responsible Business Practices: A Catalyst to Employee's Well-Being in Japan
Gabriel Eweje (Massey University)
Discussant: Mari Sakudo (Development Bank of Japan)
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The Effects of Firm-Level CSR Performance on Firm Cost of Equity
Richard Gregory (East Tennessee State University), Jean Garner Stead, and W. Edward Stead
Discussant: Antai Li (Huazhong University of Science and Technology)
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| 15:30 | Adjourn | |
Part II Program[PDF:2.9M]
