Publications

1. Selected Publications (After 1998)

  • "The Incentive Effects of Executive Stock Options on Corporate Innovative Activities," with Y. Chen and C. Chu. Financial Management, 2014 (43), pp. 271-290.
  • "What Type of Traders and Orders Profit from the Futures Market Trading?" with C. Chen and Y. Huang. Journal of Derivatives, 2014 (21), pp. 49-62.
  • "Stock and Option Market Divergence in the Presence of Noisy Information," with D. Diltz, Y. Huang, and P. Lung. Journal of Banking and Finance, 2011 (35), pp. 2001-2020.
  • "Are Member Firms of Corporate Groups Less Risky?" with W. Guo and N. Tay. Financial Management, 2010 (39), pp. 59-82.
  • "Net Buying Pressure and Implied Volatility in S&P500 Index Futures Options: The Effect of Market Cycles and Intraday Trading," with K. Chan and P. Lung. European Financial Management, 2010 (16), pp. 624-657.

    "Stock Market Mispricing: Money Illusion or Resale Option," with P. Lung and A. Wang. Journal of Financial and Quantitative Analysis, 2009 (44), pp. 1125-1147.

    "Pedigree or Placement? An Analysis of Research Productivity in Finance," with K. Chan and H. Fung. Financial Review, 2009 (44), pp. 87-111.

    "Hourly Index Return Autocorrelation and Conditional Volatility in an EAR-GJR-GARCH Model with Generalized Error Distribution," with Y. Su and Y. Huang. Journal of Empirical Finance, 2008 (15), pp. 789-798.

    "Determinants of Japanese Yen Interest Rate Swap Spreads: Evidence from a Smooth Transition Vector Autoregressive Model," with Y. Huang and M. Camacho.  Journal of Futures Markets,2008 (28), pp. 82-107.

    "Author Affiliation Index, Finance Journal Ranking, and the Pattern of Authorship," with Y. Huang.  Journal of Corporate Finance, 2007 (13), pp. 1008-1026.

    "Does Stock Option-Based Executive Compensation Induce Risk-Taking? An Analysis of the Banking Industry,"  with T. Steiner and A. Whyte. Journal of Banking and Finance,2006 (30), pp. 915-946.

    "Production in Finance Literature, Institutional Reputation, and Labor Mobility in the Academia: A Global Perspective," with K. Chan and T. Steiner, Financial Management, Winter 2002, pp. 131-156.

    "Are All Security Analysts Equal?" with K. Chan and T. Steiner, Journal of Financial Research2002, pp. 415-430.

    "Information Content of Lock-Up Provisions in Initial Public Offerings," with N. Mohan, International Review of Economics and Finance, 2001, pp. 41-59.

    "Discount Rate Changes, Stock Market Returns, Volatility, and Trading Volume: Evidence from Intraday Data and Implications for Market Efficiency," with N. Mohan and T. Steiner, Journal of Banking and Finance, June 1999, pp. 897-924.

    "Managerial Ownership and Agency Conflicts: A Nonlinear Simultaneous Equation Analysis of Managerial Ownership, Risk Taking, Debt Policy, and Dividend Policy," with T. Steiner, Financial Review, February 1999, pp. 119-136.

    "Risk-Taking Behavior and Management Ownership in Depository Institutions," with T. Steiner and A. M. Whyte. Journal of Financial Research, Spring 1998, pp. 1-16.

    "Optimism Biases Among Brokerage and Non-Brokerage Firms' Equity Recommendations: Agency Costs in the Investment Industry," with W. Carleton and T. Steiner, Financial Management, Spring 1998, pp. 17-30.

  • 2. Other Publications (After 1998)

    "Economic Policy Uncertainty and Corporate Investment: Evidence from China," with Y. Wang and Y. Huang, Pacific-Basin Finance Journal, 2014 (26), pp. 227-243.

    "Where are the Sources of Stock Market Mispricing and Excess Volatility?" with P. Lung and A. Wang, Review of Quantitative Finance and Accounting, 2013 (41), pp. 631-650.

    "Are College Chief executives Paid Like Corporate CEOs or Bureaucrats?" with Y. Huang. Applied Economics, 2012 (45), pp.3035-3043.

    "Financial Research in the European Region: A Long-term Assessment," with K. Chan and C.H. Chang. European Financial Management, 2011 (17), pp. 391-411.

    "Mutual Fund Governance and Performance: An Analysis of Morningstar's Stewardship Grade," with Y. Huang. Corporate Governance: An International Review, 2011 (19), pp. 311-333.

    "A Long-term Assessment of Finance Research Performance among Asia-Pacific Academic Institutions (1990-2008)," with K. Chan and T. Lee. Pacific-Basin Finance Journal, 2011 (19), 157-171.

    "First Author Conditions: Evidence from Finance Journal Co-authorship," with K. Chan and C. Brown. Applied Economics, 2011 (43), 3687-3697.

    "Market Contagion during Financial Crisis: A regime Switching Approach," with F. Guo and Y. Huang. International Review of Economics and Finance, 2011 (20), 95-109.

    "Author Affiliation Index: A New Approach to Marketing Journal Ranking," Marketing Education Review, 2011 (21), 2001-2020.

    "The Right to Fire: Stock market Reaction to the Adoption and Subsequent Rescinding of the First Employment Contract in France," with N. Mohan. International Review of Applied Financial Issues and Economics, 2010.

    "Simultaneous Estimation of Executive Compensation and Firm Performance in the Banking Industry," with Y. Huang. Advances in Quantitative Analysis of Finance and Accounting,  2010 (8), pp. 99-132.

    "Mispricing and the Cross-Section of Stock Returns," with A. Wang and P. Lung. Review of Quantitative Finance and Accounting, 2009 (32) pp. 317-349.

    "Economic Freedom, Equity Performance, and Marker Volatility," with Y. Huang. International Journal of Accounting and Information Management, 2009 (17), pp. 189-197.

    "The Relationship between Executives Option-Based Compensation and Risk-Taking in the Property/Liability Insurance Companies: A Simultaneous Equation Approach," with M. Wen. Journal of Insurance Regulation, 2008 (26), pp. 85-108.

    "The Effect of Fed Monetary Policy Regimes on the US Interest Rate Swap Spreads," with Y. Huang. Review of Financial Economics, 2007 (16), pp. 375-399.

    "The Impact of the Sarbanes-Oxley Act on Firms Going Private," with N. Mohan. Research in Accounting Regulation, 2007 (19), pp. 119-134.

    "One-and-a-Half Decades of Global Research Output in Finance:1990-2004," with K. Chan and P. Lung. Review of Quantitative Finance and Accounting, 2007 (28), pp. 417-439.

    "Global Ranking of Accounting Programmes and the Elite Effect in Accounting Research," with K. Chan and L. Cheng.  Accounting and Finance, 2007 (47), pp. 187-220.

    "Expected P/E, Residual P/E, and Stock Return Reversal: Time-Varying Fundamentals or Investor Overreaction?" with Y. Huang and C. Tsai.  International Journal of Business and Economics, 2007 (6), 11-28.

    "A Ranking of Accounting Research Output in the European Region," with K. Chan and L. Cheng. Accounting and Business Research, 2006 (36), pp. 3-18.

    "Corporate Value, Managerial Stockholdings and Investments of Japanese Firms," with W. Guo and V. Mande. Journal of International Financial Management & Accounting, 2006 (17), pp.29-51.

    "Ranking of Finance Programs in the Asia-Pacific Region: An Update," with K. Chan and P. Lung. Pacific-Basin Finance Journal, 2005 (13), pp.584-600.

    "Ranking Research Productivity in Accounting for Asia-Pacific Universities," with K. Chan and L. Cheng. Review of Quantitative Finance and Accounting, 2005 (24), pp. 47-64. 

    “Information Flow between the Stock and Option Markets: Where Do Informed Traders Trade?" with P. Lung and N. Tay.  Review of Financial Economics, 2005 (14-1)  pp. 1-23.

    "Are IPOs Priced Differently Based upon Gender?" with N. Mohan, Journal of Behavior Finance, 2004, pp. 57-65.

    "Who is Publishing? An Analysis of Finance Research Productivity in the European Region," with K. Chan and T. Steiner, Journal of Business Finance and Accounting, April/May 2004, pp. 177-213.

    "Managerial Ownership and Tobin’s Q: Japanese Evidence,” with W. Guo and M. Vivek,  Pacific-Basin Finance Journal, 2003, pp. 267-284.

    "Underwriter Spread, Underwriter Reputation, and IPO Underpricing: a Simultaneous Equation Analysis," with N. Mohan, Journal of Business Finance and Accounting, 2002, pp. 521-540.

    "Research Productivity of the Finance Profession in the Asia-Pacific Region," with K. Chan and T. Steiner, Pacific-Basin Finance Journal, 2001, pp. 265-280.

    "Risk Taking Behavior and Managerial Ownership in the United States Life Insurance Industry," with T. Steiner and A. M. Whyte. Applied Financial Economics2000, pp. 165-171.

    "Tobin's q, Managerial Ownership, and Analyst Coverage: a Non-linear Simultaneous Equation Model," with T. Steiner, Journal of Economics and Business, 2000, pp. 365 - 382.

    "An Agency Analysis of Firm Diversification: The Consequences of Discretionary Cash and Managerial Risk Considerations," with T. Steiner, Review of Quantitative Finance and Accounting, May 2000, pp. 247-262.

    "Mutual Fund Managers' Efforts and Performance," with J. Ang and J. Lin, Journal of Investing, Winter 1998, pp. 68-75.

    "Risk Aversion, Market Segmentation, and the Firm Size Effects: Some Empirical Evidence," with J. Lin, Advances in Investment Analysis and Portfolio Management, 1998.