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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
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
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
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
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)
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)
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)
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)
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)
Do Investors Value Sustainability?
Samuel Hartzmark (University of Chicago) and Avigail Sussman
Discussant: Vikas Mehrotra (University of Alberta)
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)
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)
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)
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)
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)
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)
15:30 Adjourn

Part II Program[PDF:2.9M]