A5101767755- Corporate Finance and Governance
- Financial Markets and Investment Strategies
- Auditing, Earnings Management, Governance
- Market Dynamics and Volatility
- Complex Systems and Time Series Analysis
- Financial Reporting and Valuation Research
- Corporate Social Responsibility Reporting
- Environmental Sustainability in Business
- Monetary Policy and Economic Impact
- Banking stability, regulation, efficiency
- Financial Literacy, Pension, Retirement Analysis
- Working Capital and Financial Performance
- Risk Management in Financial Firms
- Housing Market and Economics
- Air Quality and Health Impacts
- Stock Market Forecasting Methods
- Economic Policies and Impacts
- Catalytic C–H Functionalization Methods
- Financial Risk and Volatility Modeling
- Political Influence and Corporate Strategies
- Economic theories and models
- Corporate Taxation and Avoidance
- Energy, Environment, Economic Growth
- Private Equity and Venture Capital
- Corruption and Economic Development
Bowling Green State University
2015-2024
Wuhan University
2023
Taian City Central Hospital
2023
College of Business Administration
2004-2017
ZTE (China)
2017
Lingnan Normal University
2017
China National Environmental Monitoring Center
2012-2016
Jiangxi University of Finance and Economics
2014-2015
First Affiliated Hospital of Harbin Medical University
2014
Harbin Medical University
2014
We consider a simple model positing that initial public offering price is equal to the present value of an entity's assets in place and growth opportunities. The predicts return positively related both size risk Consistent with this prediction, we find be fraction offer accounted for by opportunities various proxies issue uncertainty. also IPO investors equate one dollar approximately three quarters tangible assets.
Abstract While management studies show that micro‐level trust within and between firms affects firm performance innovation, it is unclear how macro‐level trust, namely social corporate decisions. Addressing this important because shaped by norms. A growing literature finds corporations are influenced local Drawing from insight using various measures of we examine the impact on dividend payouts. We find levels both in terms directly measured inferred concomitant civic capital, negatively...
Abstract Prior studies offer various empirical models to decompose the observed bid‐ask spread into adverse‐selection and transitory (order‐processing inventory‐holding) components. There is limited evidence, however, on whether components estimated from these indeed measure what they purport measure. In this study, we show that estimates of component given by are positively significantly related probability information‐based trading (PIN), after controlling for endogeneity PIN other stock...
Abstract Using the adverse selection component of spread as a measure asymmetric information, we investigate how information evolves after firms go public. We find that level is lower immediately initial public offering (IPO) compared with its period seasoning. In addition, test hypothesis greater underpricing an IPO, more produced in aftermarket, and aggregate information. Our results are consistent robust controlling for other factors.
Purpose To test the effects of underpricing and share retention (i.e. proportion shares retained by pre‐initial‐public‐offering (IPO) owners) on IPO aftermarket liquidity. Design/methodology/approach Uses both percentage spread turnover ratio to measure The is quoted bid‐ask divided midpoint measures trading cost relative price. Turnover daily volume number offered speed transaction. Both non‐parametric analyses multiple regressions are conducted investigate Findings Results indicate that...
Abstract In this paper, we reexamine the mutual fund flow-performance relationship and star effect using funds in China that have unique features of high risk low performance persistence. Confirming prior studies, find is positively related to flows subsequent periods. However, our results show performed well past do not attract additional inflows after controlling for performance. addition, a fund, with five-star Morningstar rating, does any significant on fund's flows. These suggest it...