Výsledky vyhledávání - "Zhenming Fang"

MAX is not the max under the interference of daily price limits: Evidence from China

Autor: Zhenming Fang, Chaoshin Chiao, Chunfeng Wang, Shouyu Yao

Publikováno v: International Review of Economics & Finance. 73:348-369

Proposing a proxy (MAX) for extremely positive returns (EPR) that trigger lottery demand, Bali et al. (2011) observe a negative relation between MAX and future stock returns in US. However, for China’s stocks with daily price limits, we observe tha

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::b3d6ad79bbd12a6c7afcab89e68c361a
https://doi.org/10.1016/j.iref.2021.01.014

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Akademický článek

Multi-Step-Ahead Carbon Price Forecasting Based on Variational Mode Decomposition and Fast Multi-Output Relevance Vector Regression Optimized by the Multi-Objective Whale Optimization Algorithm

Autor: Shenghua Xiong, Chunfeng Wang, Zhenming Fang, Dan Ma

Publikováno v: Energies, Vol 12, Iss 1, p 147 (2019)

The accurate and stable forecasting of carbon prices is vital for governors to make policies and essential for market participants to make investment decisions, which is important for promoting the development of carbon markets and reducing carbon em

Externí odkaz: https://doaj.org/article/0f75ad2b212241e5ad29d9bb653f24e6

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Does retail investor attention improve stock liquidity? A dynamic perspective

Autor: Chunfeng Wang, Zhenming Fang, Shouyu Yao, Chaoshin Chiao, Feiyang Cheng

Publikováno v: Economic Modelling. 94:170-183

The purpose of this paper is to examine the dynamic relationship between retail investor attention and stock liquidity. Using high-frequency data for China’s stock market, we find that retail investor attention, measured by Baidu search volume, has

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::9780090ab7f4501ec6ac371ae8d2307c
https://doi.org/10.1016/j.econmod.2020.10.001

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Economic policy uncertainty exposure and earnings management: evidence from China

Autor: Zhenming Fang, Shouyu Yao, Xin Cui, Hua Wang

Publikováno v: Accounting & Finance. 61:3937-3976

We investigate the impact of economic policy uncertainty (EPU) exposure on the earnings management behaviour of Chinese firms. We find a significantly positive relation between EPU exposure and firms’ earnings management. In addition, the EPU expos

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::0e1c3474e1aebade6dbd2f07d7f15e26
https://doi.org/10.1111/acfi.12722

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The impact of closing mechanism changes: evidence from the Shanghai stock market

Autor: Ziwei Wang, Dan Ma, Chunfeng Wang, Zhenming Fang

Publikováno v: China Finance Review International. 11:259-281

PurposeThe purpose of this paper is to empirically examine the impact of closing mechanism changes on market quality, investor trading behavior and market manipulation in the Shanghai stock market.Design/methodology/approachA dummy variable is constr

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::8f150874b9ee0a5e81bbfbe4155d3200
https://doi.org/10.1108/cfri-04-2020-0041

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Idiosyncratic skewness, gambling preference, and cross-section of stock returns: Evidence from China

Autor: Zhenming Fang, Xin Cui, Shouyu Yao, Chunfeng Wang

Publikováno v: Pacific-Basin Finance Journal. 53:464-483

By using evidence of the pricing of idiosyncratic skewness (IS), which can represent gambling preferences, our paper finds that the Chinese stock market has a significant gambling pricing anomaly of “higher IS and lower subsequent returns”. Moreo

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::744e264136bd23574548b8b4164147c8
https://doi.org/10.1016/j.pacfin.2019.01.002

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