Money Market Funds and the Pricing of Near-Money Assets

Sebastian Doerr¹, Egemen Eren¹, Semyon Malamud²

1: Bank for International Settlements; 2: EPFL

Understanding the Strength of the Dollar

Zhengyang Jiang¹, Robert Richmond², Tony Zhang³

1: Northwestern University; 2: New York University; 3: Federal Reserve Board

The Dollar, US Fiscal Capacity and the US Safety Puzzle

Sun Yong Kim

Northwestern University, United States of America

Asset Pricing with Complexity

Mads Nielsen¹, Antoine Didisheim²

1: Utrecht University; 2: University of Melbourne

Identifying preference for early resolution from asset prices

Hengjie Ai¹, Ravi Bansal², Hongye Guo³

1: University of Wisconsin, United States of America; 2: Duke University; 3: University of Hong Kong

Dynamic Trading and Asset Pricing with Time-Inconsistent Agents

Stig Lundeby, Zhaneta Krasimirova Tancheva

BI Norwegian Business School, Norway

Finfluencers

Ali Kakhbod¹, Seyed Mohammad Kazempour², Dmitry Livdan³, Norman Schuerhoff⁴

1: University of California, Berkeley; 2: Rice University; 3: University of California, Berkeley and CEPR; 4: University of Lausanne, SFI, and CEPR

It's a Small World: Social Ties, Comovements, and Predictable Returns

Lin Peng¹, Sheridan Titman², Muhammed Yonac³, Dexin Zhou¹

1: Zicklin School of Business, Baruch College/CUNY; 2: McCombs School of Business, The University of Texas at Austin; 3: University of Bristol Business School

Expert Network Calls

Sean Cao¹, Clifton Green², Lijun Lei³, Shaojun Zhang⁴

1: University of Maryland; 2: Emory University; 3: University of North Carolina, Greensboro; 4: Ohio State University

Antitrust, Regulation, and User Union in the Era of Digital Platforms and Big Data

Lin William Cong¹, Simon Mayer²

1: Cornell University, United States of America; 2: HEC Paris, France

Leverage and Stablecoin Pegs

Gary Gorton², Elizabeth Klee¹, Chase Ross¹, Sharon Ross³, Alexandros Vardoulakis¹

1: Federal Reserve Board, United States of America; 2: Yale and NBER; 3: Office of Financial Research

Fintech Expansion

Jing Huang

Texas A&M University, United States of America

Asset Heterogeneity, Market Fragmentation, and Quasi-Consolidated Trading

Wei Li, Zhaogang Song

Johns Hopkins University, United States of America

(In)efficient repo markets

Tobias Dieler¹, Loriano Mancini², Norman Schürhoff³

1: University of Bristol, United Kingdom; 2: Swiss Finance Institute, USI Lugano; 3: Swiss Finance Institute, University of Lausanne, CEPR

Intermediary Market Power and Capital Constraints

Jason Allen², Milena Wittwer¹

1: Boston College, United States of America; 2: Bank of Canada

The Broader Impact of Venture Capital on innovation: Reducing information frictions through due-diligence

Juanita Gonzalez-uribe¹, Robyn Klingler-Vidra², Su Wang³, Xiang Yin⁴

1: London School of Economics and Political Science; 2: Kings College London; 3: ShanghaiTech University; 4: Tsinghua University

Optimal Allocation to Private Equity

Nicola Giommetti¹, Morten Sorensen²

1: Copenhagen Business School, Denmark; 2: Dartmouth College, United States of America

Who Finances Disparate Startups?

S. Katie Moon¹, Paula Suh²

1: University of Colorado at Boulder, Leeds School of Business; 2: University of Georgia, United States of America

Closing the Revolving Door

Joseph Kalmenovitz¹, Siddharth Vij², Kairong Xiao³

1: University of Rochester, Simon Business School; 2: University of Georgia; 3: Columbia University

The Effect of Childcare Access on Women’s Careers and Firm Performance

Elena Simintzi¹, Sheng-Jun Xu², Ting Xu³

1: University of North Carolina at Chapel Hill; 2: University of Alberta; 3: University of Toronto

Entrepreneurs’ Diversification And Labor Income Risk

Jan Bena¹, Andrew Ellul², Marco Pagano³, Valentina Rutigliano¹

1: University of British Columbia; 2: Indiana University; 3: University of Naples

Do rights offerings reduce bargaining complexity in Chapter 11?

Gunjan Seth

London Business School, United Kingdom

Equity-based compensation and the timing of share repurchases: the role of the corporate calendar

Ingolf Dittmann¹, Amy Yazhu Li¹, Stefan Obernberger¹, Jiaqi Zheng²

1: Erasmus University Rotterdam, Netherlands, The; 2: University of Oxford

Access to Debt and the Provision of Trade Credit

Matthew Billett¹, Kayla Freeman², Janet Gao³

1: Indiana University; 2: University of Georgia; 3: Georgetown University

Hedging, Contract Enforceability and Competition

Erasmo Giambona¹, Anil Kumar², Gordon M. Phillips³

1: Syracuse University; 2: Aarhus University; 3: Tuck School of Business at Dartmouth and NBER

Are (Nonprofit) Banks Special? The Economic Effects of Banking With Credit Unions

Andrés Shahidinejad

Northeastern University, United States of America

Can Blockchain Technology Help Overcome Contractual Incompleteness? Evidence from State Laws

Mark Chen¹, Sophia Shuting Hu², Joanna Xiaoyu Wang¹, Qinxi Wu²

1: Georgia State University; 2: Baylor University, United States of America

The Present Value of Future Market Power

Thummim Cho¹, Marco Grotteria², Lukas Kremens³, Howard Kung²

1: London School of Economics, United Kingdom; 2: London Business School, United Kingdom; 3: University of Washington, United States

The Demand for Large Stocks

Huaizhi Chen

University of Notre Dame, United States of America

Equity Prices in a Granular Economy

Ali Abolghasemi¹, Harjoat Bhamra², Christian Dorion^3,4, Alexandre Jeanneret⁵

1: Saint Mary’s University; 2: Imperial College London; 3: HEC Montreal, Canada; 4: Canadian Derivatives Institute; 5: University of New South Wales

Dogs and cats living together: A defense of cash-flow predictability

Seth Pruitt

Arizona State University, United States of America

The Optimal Stock Valuation Ratio

Sebastian Hillenbrand¹, Odhrain McCarthy²

1: Harvard Business School; 2: New York University

Government Policy Announcement Return

Yang LIU¹, Ivan Shaliastovich²

1: University of Hong Kong, Hong Kong S.A.R. (China); 2: University of Wisconsin Madison

Capital Flows and the Real Effects of Corporate Rollover Risk

Leonardo Elias

Federal Reserve Bank of New York, United States of America

Corporate Basis and Demand for U.S. Dollar Assets

Grace Xing Hu¹, Zhan Shi¹, Ganesh Viswanath-Natraj², Junxuan Wang²

1: Tsinghua University, China, People's Republic of; 2: University of Warwick

Subjective Risk Premia in Bond and FX Markets

Paul Whelan¹, Ilaria Piatti², Daniel Pesch³

1: Copenhagen Business School; 2: Queen Mary University of London; 3: Oxford Said Business School

The Limits of Fiat Money: Lessons from the Bank of Amsterdam

Wilko Bolt^1,2, Jon Frost³, Hyun Song Shin³, Peter Wierts^1,2

1: Vrije Universiteit (VU) Amsterdam; 2: De Nederlandsche Bank (DNB); 3: Bank for International Settlement (BIS)

Whatever It Takes? Market Maker of Last Resort and its Fragility

Dong Beom Choi¹, Tanju Yorulmazer²

1: Seoul National University, Korea; 2: Koc University, Turkiye

Bank Equity Risk

Jens Dick-Nielsen, Zhuolu Gao, David Lando

Copenhagen Business School, Denmark

Less is More

Bart Zhou Yueshen, Junyuan Zou

INSEAD

Whence LASSO? A Rational Interpretation

Wen Chen¹, Bo Hu², Liyan Yang³

1: Chinese University of Hong Kong, Shenzhen; 2: George Mason University, United States of America; 3: University of Toronto, Canada

Trades, Quotes, and Information Shares

Björn Hagströmer¹, Albert J. Menkveld²

1: Stockholm University, Sweden; 2: VU Amsterdam, the Netherlands

How do Borrowers Respond to a Debt Moratorium? Experimental Evidence from Consumer Loans in India

Stefano Fiorin^1,2, Joseph Hall⁴, Martin Kanz^2,3

1: Bocconi University, Italy; 2: CEPR; 3: World Bank; 4: Stanford GSB

The Demand for Long-Term Mortgage Contracts and the Role of Collateral

Lu Liu

University of Pennsylvania, Wharton

Forbearance vs. Interest Rates: Experimental Tests of Liquidity and Strategic Default Triggers

Deniz Aydin

Washington University, United States of America

Underrepresentation of Women CEOs

Li He¹, Toni Whited²

1: Rotterdam School of Management, Erasmus University Rotterdam; 2: Ross School of Business, University of Michigan

Too Many Managers: The Strategic Use of Titles to Avoid Overtime Payments

Lauren Cohen¹, Umit Gurun², N. Bugra Ozel²

1: Harvard University; 2: University of Texas at Dallas

The Better Angels of our Nature?

David Robinson⁴, Aksel Mjøs³, Katja Kisseleva², Johan Karlsen¹

1: Norwegian School of Economics; 2: Frankfurt School of Finance & Management; 3: Norwegian School of Economics; 4: Duke University, United States of America

Movables as Collateral and Corporate Credit: Loan-Level Evidence from Legal Reforms across Europe

Steven Ongena¹, Walid Saffar², Yuan Sun², Lai Wei³

1: University of Zürich, Swiss Finance Institute, KU Leuven, NTNU Business School, and CEPR; 2: Hong Kong Polytechnic University; 3: Lingnan University

Corporate leverage ratio adjustment under cash flow-based debt covenants

Alexander Becker, Ivan Julio, Irena Vodenska, Liyuan Wang

Boston University, United States of America

Ownership Concentration and Performance of Deteriorating Syndicated Loans

Mariassunta Giannetti², Ralf Meisenzahl¹

1: Federal Reserve Bank of Chicago, United States of America; 2: Stockholm School of Economics, CEPR and ECGI

Is Physical Climate Risk Priced? Evidence from Regional Variation in Exposure to Heat Stress

Viral Acharya¹, Tim Johnson², Suresh Sundaresan³, Tuomas Tomunen⁴

1: New York University Stern School of Business, CEPR, ECGI and NBER; 2: University of Illinois Urbana-Champaign; 3: Columbia Business School; 4: Boston College, United States of America

Asset Pricing with Disagreement about Climate Risks

Ole Wilms^1,3, Karl Schmedders², Thomas Lontzek⁴, Marco Thalhammer⁴, Walter Pohl⁵

1: Tilburg University; 2: IMD Lausanne; 3: Universität Hamburg; 4: RWTH Aachen; 5: NHH Bergen

Carbon Returns Across the Globe

Shaojun Zhang

The Ohio State University, United States of America

“Buy the Rumor, Sell the News”: Liquidity Provision by Bond Funds Following Corporate News Events

Alan Guoming Huang², Russ Wermers³, Jinming Xue¹

1: Southern Methodist University, United States of America; 2: University of Waterloo; 3: University of Maryland

The Trickle-Down Effect of Government Debt and Social Unrest

Ben Charoenwong

National University of Singapore, Singapore

Optimal Tick Size

Giuliano Graziani¹, Barbara Rindi²

1: Bocconi University; 2: Bocconi University, IGIER, Baffi-Carefin

Skewness Preferences: Evidence from Online Poker

Markus Dertwinkel-Kalt², Johannes Kasinger¹, Dmitrij Schneider³

1: Leibniz Institute for Financial Research SAFE, Germany; 2: University of Münster; 3: Heinrich Heine University Düsseldorf

Active Mutual Fund Common Owners' Returns and Proxy Voting Behavior

Ben Charoenwong, Zhenghui Ni, Qiaozhi Ye

NUS Business School, National University of Singapore

In victory or defeat: Consumption responses to wealth shocks

Alex Imas¹, Tse-Chun Lin², Yan Luo³, Xiaohuan Wang⁴

1: Booth School of Business, University of Chicago; 2: HKU Business School, The University of Hong Kong; 3: School of Management, Fudan University; 4: Shanghai National Accounting Institute, China

Bank Monopsony Power and Deposit Demand

Teng Huang

Luiss University, Italy

Risk-taking by asset managers and bank regulation

Wenqian Huang, Nikola Tarashev, Inaki Aldasoro

Bank for International Settlements, Switzerland

Spreading Pressure and the Commodity Futures Risk Premium

Arie Gozluklu¹, Gi Kim¹, Yujing Gong²

1: University of Warwick, United Kingdom; 2: London School of Economic

The Economics of Mutual Fund Marketing

Jane Chen³, Wenxi {Griffin} Jiang¹, Mindy Xiaolan²

1: CUHK Business School, The Chinese University of Hong Kong; 2: UT Austin; 3: LSE

Do board connections between product market peers impede competition?

Radhakrishnan Gopalan², Renping Li², Alminas Zaldokas¹

1: Olin Business School, Washington University in St. Louis; 2: Hong Kong University of Science and Technology, Hong Kong S.A.R. (China)

Does Democracy Shape International Merger Activity

Muhammad Farooq Ahmad¹, Thomas Lambert², Jose M. Martin-Flores³, Arthur Petit-Romec⁴

1: SKEMA Business School; 2: Rotterdam School of Management; 3: CUNEF Universidad; 4: Toulouse Business School

Biases in Private Equity Returns

Simon Hayley, Onur Sefiloglu

City, University of London, United Kingdom

Slow Belief Updating and the Disposition Effect

Aleksi Pitkäjärvi

Aalto University, Finland

How Does Benchmarking Affect Market Efficiency? — The Role of Learning Technology

Wen Chen¹, Bo Hu², Yajun Wang³

1: The Chinese University of Hong Kong, Shenzhen; 2: George Mason University; 3: Baruch College, City University of New York

Resurrecting the Value Factor from its Redundancy

Manuel Ammann¹, Tobias Hemauer¹, Simon Straumann²

1: University of St. Gallen, Switzerland; 2: WHU - Otto Beisheim School of Management, Germany

Borrower Technology Similarity and Bank Loan Contracting

Mingze Gao¹, Yunying Huang¹, Steven Ongena², Eliza Wu¹

1: University of Sydney, Australia; 2: University of Zurich, Switzerland

Household Debt Overhang and Human Capital Investment

Gustavo Manso¹, Alejandro Rivera², Hui Grace Wang³, Han Xia²

1: University of California, Berkeley; 2: University of Texas at Dallas, United States of America; 3: Bentley University

Machine learning and the cross-section of emerging market stock returns

Matthias Hanauer, Tobias Kalsbach

Technical University of Munich, Germany

BETTING ON THE CEO

Utpal Bhattacharya¹, Yuet Ning Chau¹, Kasper Nielsen²

1: Hong Kong University of Science and Technology; 2: Copenhagen Business School

Memory and Analyst Forecasts: A Machine Learning Approach

Zhongtian Chen¹, Jiyuan Huang^2,3

1: Department of Finance, The Wharton School, University of Pennsylvania; 2: University of Zurich, Switzerland; 3: Swiss Finance Institute

Somebody Stop Me: The Asset Pricing Implications of Principal-Agent Conflicts

Juan Zelaya

BI Norwegian Business School, Norway

Equity-based microfinance and risk preferences

Muhammad Meki

University of Oxford, United Kingdom

Is Flood Risk Priced in Bank Returns?

Valentin Schubert

Stockholm School of Economics, Sweden

Satisfied Employees, Satisfied Investors: How Employee Well-being Impacts Mutual Fund Returns

Elias Ohneberg, Pedro Saffi

University of Cambridge - Judge Business School

Option Trade Classification

Caroline Grauer¹, Philipp Schuster², Marliese Uhrig-Homburg¹

1: Karlsruhe Institute of Technology, Germany; 2: University of Stuttgart, Germany

Earnings Announcements: Ex-ante Risk Premia

Hong Liu¹, Yingdong Mao², Xiaoxiao Tang², Guofu Zhou¹

1: University of Texas at Dallas, United States of America; 2: Washington University in St. Louis, United States of America

The Dealer Warehouse – Corporate bond ETFs

Caitlin Dannhauser¹, Egle Karmaziene²

1: Villanova University, United States of America; 2: Vrije Universiteit Amsterdam, Swedish House of Finance and Tinbergen Institute

Smokestacks and the Swamp

Emilio Bisetti¹, Stefan Lewellen², Arkodipta Sarkar³, Xiao Zhao¹

1: Hong Kong University of Science and Technology, Hong Kong S.A.R. (China); 2: Pennsylvania State University; 3: National University of Singapore

Kamikazes in Public Procurement

Dimas Fazio¹, Alminas Zaldokas²

1: National University of Singapore - NUS; 2: Hong Kong University of Science and Technology - HKUST

Salience Bias in Belief Formation

Busra Eroglu, Martin Weber

University of Mannheim, Germany

Anonymous Loan Applications and Racial Disparities

Poorya Kabir, Tianyue Ruan

NUS Business School, Singapore

Issuer Certification in Money Markets

Olav Syrstad¹, Sven Klingler², Aleksandra Rzeznik³

1: Central Bank of Norway, Norway; 2: BI; 3: Schulich School of Business

CBDC, Monetary Policy Implementation, and The Interbank Market

Nora Lamersdorf¹, Tobias Linzert², Cyril Monnet³

1: Frankfurt School of Finance & Management; 2: European Central Bank; 3: University of Bern and Study Center Gerzensee

Imputing Mutual Fund Trades

Dion Bongaerts¹, Jean-Paul van Brakel^1,2, Mathijs van Dijk¹, Joop Hui^1,2

1: Erasmus University Rotterdam, Netherlands, The; 2: Robeco Institutional Asset Management

Concentrating on Bailouts: Government Guarantees and Bank Asset Composition

Christian Eufinger¹, Juan Pablo Gorostiaga¹, Björn Richter²

1: IESE Business School, Spain; 2: UPF & BSE

Entry along the supply chain: removing growth restrictions on firms in India

Chhavi Rastogi

University of Bonn, Germaany

Technology and Cryptocurrency Valuation

Jinfei Sheng¹, Yukun Liu², Wanyi Wang¹

1: University of California, Irvine; 2: University of Rochester

The Value of Employee Morale in Mergers and Acquisitions: Evidence from Glassdoor

Kristina Lalova

University of Connecticut, United States of America

Prepayment Penalties, Adverse Selection, and Mortgage Default

Samuel James

University of Birmingham, United Kingdom

Regulatory Model Secrecy and Bank Reporting Discretion

Shuo Zhao

Tilburg University, Netherlands, The

Dealer-customer Relationships in OTC Markets

Markus Bak-Hansen

HEC Paris, France

Investment, Uncertainty, and U-Shaped Return Volatilities

Kevin Schneider

Cambridge Judge Business School, United Kingdom

Tail risk and asset prices in the short-term

Caio Almeida¹, Gustavo Freire², Rene Garcia³, Rodrigo Hizmeri⁴

1: Princeton University, United States; 2: Erasmus University Rotterdam, Netherlands; 3: Universite de Montreal, Canada; 4: University of Liverpool, United Kingdom

Demand in the Option Market and the Pricing Kernel

Caio Almeida¹, Gustavo Freire²

1: Princeton University; 2: Erasmus School of Economics, Erasmus University Rotterdam, Netherlands, The

No Max Pain, No Max Gain: Stock Return Predictability at Options Expiration

Ilias Filippou¹, Pedro Garcia-Ares², Fernando Zapatero³

1: Washington University, Saint Louis; 2: ITAM, Mexico City; 3: Questrom School of Business, Boston University, United States of America

Pricing Event Risk: Evidence from Concave Implied Volatility Curves

Lykourgos Alexiou¹, Amit Goyal², Alexandros Kostakis¹, Leonidas Rompolis³

1: University of Liverpool; 2: Swiss Finance Institute, University of Lausanne; 3: Athens University of Economics and Business

Intermediary Balance Sheets and the Treasury Yield Curve

Wenxin Du¹, Ben Hebert², Wenhao Li³

1: University of Chicago and FRBNY; 2: Stanford University; 3: University of Southern California

Foreign Exchange Intervention with UIP and CIP Deviations: The Case of Small Safe Haven Economies

Kenza Benhima, Philippe Bacchetta, Brendan Berthold

HEC-Lausanne (University of Lausanne), Switzerland

Can Time-Varying Currency Risk Hedging Explain Exchange Rates?

Leonie Braeuer^1,2, Harald Hau^1,2,3

1: University of Geneva, Switzerland; 2: Swiss Finance Institute; 3: CEPR

Local Returns and Beliefs about the Stock Market

Tobin Hanspal^1,2, Clemens Wagner^1,2

1: WU Vienna University of Economics and Business; 2: Vienna Graduate School of Finance (VGSF)

Economic Growth through Diversity in Beliefs

Christian Heyerdahl-Larsen², Philipp Illeditsch¹, Howard Kung³

1: Texas A&M University, United States of America; 2: BI Norwegian Business School; 3: London Business School

Expectation-Driven Term Structure of Equity and Bond Yields

Ming Zeng¹, Guihai Zhao²

1: University of Gothenburg - Centre for Finance, Sweden; 2: Bank of Canada

Intermediary-Based Loan Pricing

Pierre Mabille¹, Olivier Wang²

1: INSEAD, France; 2: NYU Stern, USA

Trade disruptions and cross-border banking integration

Allen N. Berger^4,5,6, Freddy Pinzon-Puerto^2,3, Peter Karlström², Matias Ossandon Busch^1,2

1: Halle Institute for Economic Research (IWH); 2: CEMLA; 3: Universidad del Rosario; 4: University of South Carolina; 5: Wharton Financial Institutions Center; 6: European Banking Center

Financial Integration through Production Networks

Indraneel Chakraborty², Saketh Chityala³, Apoorva Javadekar¹, Rodney Ramcharan⁴

1: Indian School of Business, India; 2: University of Miami; 3: University of Colorado Boulder; 4: University of Southern California

The Retail Execution Quality Landscape

Anne Dyhrberg¹, Andriy Shkilko¹, Ingrid Werner²

1: Wilfrid Laurier University, Canada; 2: Ohio State University, USA

Payment for Order Flow and Asset Choice

Thomas Ernst¹, Chester Spatt²

1: University of Maryland, United States of America; 2: Carnegie Mellon University

Market fragmentation and price impact

Lewen Guo, Pankaj Jain

University of Memphis, United States of America

Household Finance under the Shadow of Cancer

Daniel Karpati

Tilburg University

Mortality Beliefs and Saving Decisions: The Role of Personal Experiences

Frederik Horn

University of Mannheim, Germany

Scared Away: Credit Demand Response to Expected Motherhood Penalty in the Labor Market

Darwin Choi¹, Zhenyu Gao¹, Singsen Lam¹, Tian Li², Wenlan Qian³

1: CUHK Business School, The Chinese University of Hong Kong, Hong Kong S.A.R. (China); 2: TCL Corporate Research(HK) Co., Ltd; 3: National University of Singapore

The Golden Revolving Door: Hedging through Hiring Government Officials

Ling Cen¹, Lauren Cohen², Jing Wu¹, Fan Zhang¹

1: Chinese University of Hong Kong, Hong Kong S.A.R. (China); 2: Harvard University - Business School (HBS); National Bureau of Economic Research (NBER)

Private Equity in the Hospital Industry

Yongseok Kim¹, Merih Sevilir², Janet Gao³

1: Indiana University Bloomington, United States of America; 2: Halle Institute (IWH), Germany; 3: Georgetown University, United States of America

Voting Rationales

Roni Michaely¹, Silvina Rubio², Irene Yi³

1: University of Hong Kong; 2: University of Bristol; 3: University of Toronto

Are women more exposed to firm shocks?

Ramin Baghai¹, Rui Silva², Margarida Soares²

1: Stockholm School of Economics, Sweden; 2: Nova School of Business and Economics, Portugal

The Importance of Signaling for Women's Careers

Alexandra Niessen-Ruenzi, Leah Zimmerer

University of Mannheim, Germany

The Effect of Female Leadership on Contracting from Capitol Hill to Main Street

Jonathan Brogaard¹, Nataliya Gerasimova², Maximilian Rohrer³

1: David Eccles School of Business, University of Utah; 2: BI Norwegian Business School, Norway; 3: NHH Norwegian School of Economics

When Green Investors Are Green Consumers

Maxime Sauzet¹, Olivier David Zerbib²

1: Boston University; 2: EDHEC Business School

ESG Spillovers

Shangchen Li¹, Hongxun Ruan¹, Sheridan Titman², Haotian Xiang¹

1: Peking University; 2: University of Texas at Austin and NBER

Mortgage, Monitoring, and Flood Insurance Disincentive

Zhongchen Hu

Chinese University of Hong Kong, Shenzhen, China, People's Republic of