Darla Moore School of Business - Hitotsubashi University
Third International Conference on Corporate Finance:
Corporate Social Responsibility: The Role of Corporate Governance andImplications for Corporate Policies
Wednesday August 1, 2018
Hitotsubashi University, Tokyo, Japan
2-1, Naka, Kunitachi, Tokyo 186-8601

Agenda08:50-09:15 Registration @ Sano Shoin Hall
09:15-09:25 Welcome and Opening Remarks @ Sano Shoin Hall
09:25-10:55 Session 1: Institutional Investors, Corporate Customers, and CSR
10:55-11:10 Refreshments break
11:10-12:40 Session 2: Incentives, Transparency, and CSR
12:40-13:40 Lunch Break @ Sano Shoin Hall
13:40-15:10 Session 3: Political Regimes, Government Ownership, and CSR
15:10-15:20 Refreshments Break
15:20-16:50 Session 4: CSR: Insights from Japan
16:50-17:00 Refreshments Break
17:00-18:00 Panel Discussion by Distinguished Scholars
18:00-18:10 Closing Remarks
18:10-20:00 Reception (Dinner) @ Sano Shoin Hall

Graduate School of Business Administration
Hitotsubashi University Center for Financial Research
Sponsored by Mizuho Financial Group and Darla Moore School of Business

The Detailed Program
08:50-09:15 Registration
09:15-09:25 Welcome and Opening Remarks
Toyohiko Hachiya (Dean of the Graduate School of Business Administration,
Hitotsubashi University)
09:25-10:55 Session 1: Institutional Investors, Corporate Customers, and CSR
Chairperson: Omrane Guedhami (University of South Carolina)
Corporate ESG Profiles and Investor Horizons
Laura Starks (University of Texas at Austin)
Discussant: Sadok El Ghoul (University of Alberta)
Socially Responsible Corporate Customers
Hao Liang (Singapore Management University)
Discussant: Xavier Giroud (Columbia Business School)
10:55-11:10 Refreshments Break
11:10-12:40 Session 2: Incentives, Transparency, and CSR
Chairperson: Masaharu Hanazaki (Hitotsubashi University)
Corporate Governance and the Rise of Integrating Corporate Social
Responsibility Criteria in Executive Compensation: Effectiveness andImplications for Firm Outcomes
Caroline Flammer (Boston University)
Discussant: Yukihiro Yasuda (Hitotsubashi University)
Does Corporate Citizenship Improve Financial Reporting Credibility?
Greg Shailer (Australian National University)
Discussant: Jungwon Suh (Sungkyunkwan University)
12:40-13:40 Lunch Break
13:40-15:10 Session 3: Political Regimes, Government Ownership, and CSR
Chairperson: Yukihiro Yasuda (Hitotsubashi University)
Authoritarian Rule and Corporate Social Responsibility
Richard W. Carney (China Europe International Business School)
Discussant: Konari Uchida (Kyushu University)

Is Privatization a Socially Responsible Reform?
Narjess Boubakri (American University of Sharjah)Discussant: Masaru Konishi (Hitotsubashi University)
15:10-15:20 Refreshments Break
15:20-16:50 Session 4: CSR: Insights from Japan
Chairperson: Masaru Konishi (Hitotsubashi University)
Measurement of Corporate Environmental Performance and the Cost of Equity
Takafumi Sasaki (Chuo University)
Discussant: Omrane Guedhami (University of South Carolina)
CSR Performance and Extended Governance in Japan
Yoko Shirasu (Aoyama Gakuin University)
Discussant: Min-Ming Wen (Hitotsubashi University)
16:50-17:00 Refreshments Break
17:00-18:00 Panel Discussion by Distinguished Scholars
Insights on the conference theme including recent research topics and avenues for future
research
Caroline Flammer (Boston University)
Hao Liang (Singapore Management University)
Greg Shailer (Australian National University)
Laura Starks (University of Texas at Austin)
18:00-18:10 Closing Remarks
18:10-20:00 Reception (Dinner) at the Sano Shoin Hall
※20 mins for presentation, 15 mins for discussant, and 10 mins for questions.
※Discussants: Please avoid extended summary of the paper.
※By registering for this conference, participants provide the organizers permission to use photos taken atthe conference.

KUNITACHI CAMPUS MAP: Sano Shoin Hall
(About a 12-minute walk from the South Exit of JR Kunitachi Station)
From JR Kunitachi Station

Main Gate (West Gate)
Sano Shoin Hall