00474nas a2200157   4500008004100000245004800041210004800089260000900137300001400146490000700160653001500167653001200182100001800194700001600212856008800228       2023                        eng d00aCorporate Reputation and Hedging Activities0 aCorporate Reputation and Hedging Activities  c2023  a1223-12470 v6310aAccounting10aFinance1 aDeng, Junfang1 aYang, Jimmy  u/biblio/corporate-reputation-and-hedging-activities00501nas a2200169   4500008004100000245004800041210004800089260000900137300001100146490000800157653001200165100002000177700001800197700001900215700001600234856008100250       2023                        eng d00aIntraday Momentum in the VIX Futures Market0 aIntraday Momentum in the VIX Futures Market  c2023  a1067460 v14810aFinance1 aHuang, Hong-Gia1 aTsai, Wei-Che1 aWeng, Pei-Shih1 aYang, Jimmy  u/biblio/intraday-momentum-vix-futures-market00562nas a2200157   4500008004100000245008100041210006900122260000900191300001100200490000800211653001200219100001800231700002000249700001600269856011900285       2022                        eng d00aAggregate 52-week high, limited attention, and time-varying momentum profits0 aAggregate 52week high limited attention and timevarying momentum  c2022  a1065310 v14110aFinance1 aHung, Weifeng1 aLin, Ching-Ting1 aYang, Jimmy  u/biblio/aggregate-52-week-high-limited-attention-and-time-varying-momentum-profits00539nas a2200133   4500008004100000245008100041210006900122260002700191653001200218100001800230700002000248700001600268856012100284       2022                        eng d00aAggregate 52-week high, limited attention, and time-varying momentum profits0 aAggregate 52week high limited attention and timevarying momentum  aVictoria, Canadac202210aFinance1 aHung, Weifeng1 aLin, Ching-Ting1 aYang, Jimmy  u/biblio/aggregate-52-week-high-limited-attention-and-time-varying-momentum-profits-000584nas a2200169   4500008004100000245008300041210006900124260000900193300001100202490000700213653001200220100001400232700001400246700001600260700001900276856011900295       2022                        eng d00aCrash-Based Quantitative Trading Strategies: Perspective of Behavioral Finance0 aCrashBased Quantitative Trading Strategies Perspective of Behavi  c2022  a1021850 v4510aFinance1 aFang, Yan1 aYuan, Jie1 aYang, Jimmy1 aYing, Shangjun  u/biblio/crash-based-quantitative-trading-strategies-perspective-behavioral-finance00501nas a2200145   4500008004100000245006600041210006500107260000900172300000900181653001200190100002000202700001900222700001600241856009800257       2022                        eng d00aDoes the tail risk index matter in forecasting downside risk?0 aDoes the tail risk index matter in forecasting downside risk  c2022  a1-1610aFinance1 aHung, Jui-Cheng1 aLiu, Hung-Chun1 aYang, Jimmy  u/biblio/does-tail-risk-index-matter-forecasting-downside-risk00544nas a2200157   4500008004100000245007300041210006900114260000900183300001200192490000700204653001200211100002000223700001600243700001600259856011100275       2021                        eng d00aFamily control, external governance mechanisms, and dividend payouts0 aFamily control external governance mechanisms and dividend payou  c2021  a198-2090 v7910aFinance1 aTeng, Chia-Chen1 aLi, Shaomin1 aYang, Jimmy  u/biblio/family-control-external-governance-mechanisms-and-dividend-payouts00499nas a2200133   4500008004100000245007700041210006900118260000900187490000700196653001200203100002000215700001600235856011400251       2021                        eng d00aMedia exposure on corporate social irresponsibility and firm performance0 aMedia exposure on corporate social irresponsibility and firm per  c20210 v6810aFinance1 aTeng, Chia-Chen1 aYang, Jimmy  u/biblio/media-exposure-corporate-social-irresponsibility-and-firm-performance01319nas a2200169   4500008004100000245006600041210006400107260000900171300001000180490000700190520079300197653001200990100001601002700001801018700001601036856009701052       2021                        eng d00aShare Pledging, Payout Policy, and the Value of Cash Holdings0 aShare Pledging Payout Policy and the Value of Cash Holdings  c2021  a18-330 v613 aShare pledging for insiders’ personal bank loans is associated with the agency problems of insider risk aversion and stock price crash risk. We examine the relation between insider share pledging and the value of cash holdings using the pledging data of listed firms in Taiwan. We find that the value of cash holdings is lower for pledging firms, especially for those that are relatively more risk averse. Pledging firms that repurchase shares have a higher marginal value of cash than those with other payout methods, likely due to the role of repurchases in reducing the stock price crash risk. Our results show how insiders’ personal financing incentives arising from share pledging would affect the value of cash holdings from the perspective of agency problems and payout policy.10aFinance1 aChou, Robin1 aWang, Yu-Chun1 aYang, Jimmy  u/biblio/share-pledging-payout-policy-and-value-cash-holdings00491nas a2200157   4500008004100000245005100041210005100092260000900143490000700152653001200159100001700171700002000188700001600208700001800224856009100242       2021                        eng d00aTechnical expert CEOs and corporate innovation0 aTechnical expert CEOs and corporate innovation  c20210 v6810aFinance1 aTing, Hsiu-I1 aWang, Ming-Chun1 aYang, Jimmy1 aTuan, Kai-Wen  u/biblio/technical-expert-ceos-and-corporate-innovation01050nas a2200157   4500008004100000245003600041210003600077260000900113300000900122490000700131520063600138653001200774100001700786700001600803856007300819       2021                        eng d00aTrader Positions in VIX Futures0 aTrader Positions in VIX Futures  c2021  a1-170 v613 aWe investigate the dynamic changes in trader positions of market participants in the VIX futures markets. We find that in a low-VIX period, below the 23.81 threshold determined by our model, changes in VIX futures affect the trading decisions of dealers and leveraged fund managers, but in an opposite direction. During a high-VIX period, dealers and leveraged fund managers would then alter their trading strategies. We highlight the important role of exchange-traded products trading in hedging demand of dealers and show the impact on VIX futures. Trader positions are determinants of VIX futures prices, basis, and VIX premium.10aFinance1 aChen, Yu-Lun1 aYang, Jimmy  u/biblio/trader-positions-vix-futures00535nas a2200157   4500008004100000245006800041210006800109260000900177300001200186490000700198653001200205100002000217700001900237700001600256856010500272       2021                        eng d00aTrading activity and price discovery in Bitcoin futures markets0 aTrading activity and price discovery in Bitcoin futures markets  c2021  a107-1200 v6210aFinance1 aHung, Jui-Cheng1 aLiu, Hung-Chun1 aYang, Jimmy  u/biblio/trading-activity-and-price-discovery-bitcoin-futures-markets00567nas a2200145   4500008004100000245010300041210006900144260000900213300001200222490000700234653001200241100002000253700001600273856013200289       2020                        eng d00aHousing Price Dynamics, Mortgage Credit and Reverse Mortgage Demand: Theory and Empirical Evidence0 aHousing Price Dynamics Mortgage Credit and Reverse Mortgage Dema  c2020  a599-6320 v4810aFinance1 aChen, Kuo-Shing1 aYang, Jimmy  u/biblio/housing-price-dynamics-mortgage-credit-and-reverse-mortgage-demand-theory-and-empirical00579nas a2200157   4500008004100000245009500041210006900136260000900205300001200214490000700226653001200233100002000245700001900265700001600284856012100300       2020                        eng d00aImproving the realized GARCH's volatility forecast for Bitcoin with jump-robust estimators0 aImproving the realized GARCHs volatility forecast for Bitcoin wi  c2020  a101-1650 v5210aFinance1 aHung, Jui-Cheng1 aLiu, Hung-Chun1 aYang, Jimmy  u/biblio/improving-realized-garchs-volatility-forecast-bitcoin-jump-robust-estimators01223nas a2200169   4500008004100000245009400041210006900135260000900204300001200213490000700225520064400232653001200876100001800888700001900906700001600925856011200941       2020                        eng d00aA rare move: the effects of switching from a closing call auction to a continuous trading0 arare move the effects of switching from a closing call auction t  c2020  a308-3280 v403 aThis study investigates the effects of switching to a closing continuous trading (CCT) on market quality, while considering the trading behaviors of different types of traders. Investors become more patient in the period preceding the last trading phase, which reduces the bid–ask spread (BAS) in that period. We find an increase in the BAS and volatility during the last trading phase, due to diminishing investor patience. Market volatility and the closing pricing errors relate positively to the trading activities of foreign institutional investors. Overall, the introduction of the CCT worsens the market quality before the closing.10aFinance1 aChang, Ya-Kai1 aChou, Robin, K1 aYang, Jimmy  u/biblio/rare-move-effects-switching-closing-call-auction-continuous-trading01032nas a2200157   4500008004100000245007900041210006900120260000900189300001200198490000700210520053700217653001200754100002000766700001600786856007200802       2018                        eng d00aChinese Lunar New Year Effect, Investor Sentiment, and Market Deregulation0 aChinese Lunar New Year Effect Investor Sentiment and Market Dere  c2018  a175-1840 v273 aThis paper provides empirical evidence and a behavioral explanation for the Chinese Lunar New Year (CLNY) effect and investigates whether the holiday effect weakens after market deregulation. Using emotion proxies from literature, we find that positive emotion plays an important role in contributing to higher returns surrounding the CLNY. We also show that the CLNY effect weakens when foreign investors’ participation increases, suggesting that the market deregulation may have contributed to this diminishing calendar anomaly.10aFinance1 aTeng, Chia-Chen1 aYang, Jimmy  uhttps://www.sciencedirect.com/science/article/pii/S154461231730564001022nas a2200157   4500008004100000245007700041210006900118260000900187300001000196490000700206520050100213653001200714100001800726700001600744856010400760       2018                        eng d00aThe MAX Effect: Lottery Stocks with Price Limits and Limits to Arbitrage0 aMAX Effect Lottery Stocks with Price Limits and Limits to Arbitr  c2018  a77-910 v413 aWe modify the Bali et al.’s (2011) MAX measure (maximum daily return over the prior month) when the observed returns are capped at the daily price limit to address the issue of homogeneous MAX across stocks. Our results indicate that the modified MAX measure can be a significant predictor of future stock returns. The modified MAX effect is not a manifestation of the idiosyncratic volatility effect. We also find that the modified MAX measure could be an alternative proxy for arbitrage risk.10aFinance1 aHung, Weifeng1 aYang, Jimmy  u/biblio/max-effect-lottery-stocks-price-limits-and-limits-arbitrage00432nas a2200133   4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182700001900194856008500213       2016                        eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility  aTaiwanc201610aFinance1 aYang, Jimmy1 aLin, KC1 aJohnson, Shane  u/biblio/cost-corporate-social-irresponsibility-200430nas a2200133   4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182700001900194856008300213       2016                        eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility  aTaiwanc201610aFinance1 aYang, Jimmy1 aLin, KC1 aJohnson, Shane  u/biblio/cost-corporate-social-irresponsibility00432nas a2200133   4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182700001900194856008500213       2016                        eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility  aTaiwanc201610aFinance1 aYang, Jimmy1 aLin, KC1 aJohnson, Shane  u/biblio/cost-corporate-social-irresponsibility-000432nas a2200133   4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182700001900194856008500213       2016                        eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility  aTaiwanc201610aFinance1 aYang, Jimmy1 aLin, KC1 aJohnson, Shane  u/biblio/cost-corporate-social-irresponsibility-100401nas a2200121   4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182856008500194       2015                        eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility  aTaiwanc201510aFinance1 aYang, Jimmy1 aLin, KC  u/biblio/cost-corporate-social-irresponsibility-400401nas a2200121   4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182856008500194       2015                        eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility  aTaiwanc201510aFinance1 aYang, Jimmy1 aLin, KC  u/biblio/cost-corporate-social-irresponsibility-300404nas a2200109   4500008004100000245005600041210005600097260001700153653001200170100001600182856009600198       2015                        eng d00aEmpirical Financial Studies and Policy Implications0 aEmpirical Financial Studies and Policy Implications  aTaipeic201510aFinance1 aYang, Jimmy  u/biblio/empirical-financial-studies-and-policy-implications00401nas a2200121   4500008004100000245004900041210004700090260001700137653001200154100001600166700001600182856008100198       2015                        eng d00aA model of price limits on individual stocks0 amodel of price limits on individual stocks  aTaiwanc201510aFinance1 aYang, Jimmy1 aLuo, Yuchen  u/biblio/model-price-limits-individual-stocks00409nas a2200121   4500008004100000245004900041210004700090260002300137653001200160100001600172700001600188856008300204       2015                        eng d00aA model of price limits on individual stocks0 amodel of price limits on individual stocks  aBuenos Airesc201510aFinance1 aYang, Jimmy1 aLuo, Yuchen  u/biblio/model-price-limits-individual-stocks-001258nas a2200169   4500008004100000245006800041210006600109260000900175300001200184490000700196520071400203653001200917100002000929700001700949700001600966856010600982       2014                        eng d00aWhat makes when-issued trading attractive to financial markets?0 aWhat makes whenissued trading attractive to financial markets  c2014  a245-2710 v233 aWhen-issued trading is the trading of securities prior to the actual issue of the security. When-issued trading is active around the world and in a variety of equity and bond markets. In this survey, we provide a general description of when-issued trading, analyze benefits and costs in various financial markets, present existing theoretical models and predictions, and synthesize empirical findings. We find that when-issued trading promotes price discovery, mitigates information asymmetry, provides convenience for trading ahead of the actual issue of the security, and in some markets reduces volatility. In addition, we offer policy implications and suggest directions for further research in this area.10aFinance1 aBrooks, Raymond1 aKim, Yong, H1 aYang, Jimmy  u/biblio/what-makes-when-issued-trading-attractive-financial-markets-000473nas a2200157   4500008004100000245004900041210004800090260000900138300001200147490000700159653001200166100002000178700001700198700001600215856008400231       2014                        eng d00aWhen-issued trading in the Indian IPO market0 aWhenissued trading in the Indian IPO market  c2014  a170-1960 v1910aFinance1 aBrooks, Raymond1 aMathew, Prem1 aYang, Jimmy  u/biblio/when-issued-trading-indian-ipo-market-201499nas a2200169   4500008004100000245010100041210006900142260000900211300001200220490000700232520090100239653001501140653001201155100001301167700001601180856013301196       2013                        eng d00aThe choice between rights and underwritten equity offerings: Evidence from Chinese Stock Markets0 achoice between rights and underwritten equity offerings Evidence  c2013  a235-2530 v233 aWe study the choice and valuation effects of alternative flotation methods using a sample of Chinese firms that must meet the return on equity (ROE) thresholds set by the government to raise equity capital. The ROE requirement, although changed over time, seems to play an important role on the valuation and performance of seasoned equity offerings. The analysis of 219 rights and 75 underwritten offerings between 2000 and 2004 shows that Chinese firms that are not qualified for the flotation method with a higher ROE requirement suffer the most at announcement and experience significantly lower buy-and-hold abnormal returns than those that are qualified. Our results suggest that the freedom to choose their preferred flotation method may be valuable to firms that meet the higher ROE requirement. Finally, our probit models identify several determinants of the choice of flotation methods.10aAccounting10aFinance1 aDang, Li1 aYang, Jimmy  u/biblio/choice-between-rights-and-underwritten-equity-offerings-evidence-chinese-stock-markets-200624nas a2200157   4500008004100000245012700041210006900168260000900237300001000246490000700256653001200263100001700275700002700292700001600319856013100335       2013                        eng d00aIs the diversification benefit of frontier markets realizable by mean-variance investors? The evidence of investable funds0 adiversification benefit of frontier markets realizable by meanva  c2013  a36-480 v3910aFinance1 aBerger, Dave1 aPukthuanthong, Kuntara1 aYang, Jimmy  u/biblio/diversification-benefit-frontier-markets-realizable-mean-variance-investors-evidence-001228nas a2200169   4500008004100000245004400041210004400085260000900129300001200138490000700150520075300157653001200910100001700922700001700939700001600956856008600972       2013                        eng d00aReconsidering Price Limit Effectiveness0 aReconsidering Price Limit Effectiveness  c2013  a493-5180 v363 aMost stock exchanges around the world impose daily price limits on stock prices. However, China is the only market that has experienced trading with and without price limits. We study China’s experience with price limits by comparing a subperiod with price limits to a subperiod without price limits. We provide three major sets of findings. First, we find price limits moderate transitory volatility and mitigates abnormal trading activity. Second, for poor performing stocks, a tighter price limit also appears helpful in moderating volatility and not hurtful. Finally, we find some evidence that price limits can facilitate market recovery following crashes. Many prior studies criticize price limits. Our study shows benefits of price limits.10aFinance1 aKim, Kenneth1 aLiu, Haixiao1 aYang, Jimmy  u/biblio/reconsidering-price-limit-effectiveness-201087nas a2200157   4500008004100000245005400041210005300095260000900148300001200157490000700169520061900176653001200795100002000807700001600827856008600843       2012                        eng d00aEmerging from bankruptcy with when-issued trading0 aEmerging from bankruptcy with whenissued trading  c2012  a445-4670 v473 aWe examine the set of firms that emerged from Chapter 11 bankruptcy and traded on a when-issued basis prior to their official return to the regular way in NASDAQ, Amex, or NYSE. We find that this when-issued market is liquid and price efficient. The when-issued closing price is a good indicator of the first closing price in the regular way market. Emerging firms that have when-issued trading experience lower regular way volatility and smaller relative spreads than those without when-issued trading. Our probit regressions show that firm size is an important determinant of the adoption of when-issued trading.10aFinance1 aBrooks, Raymond1 aYang, Jimmy  u/biblio/emerging-bankruptcy-when-issued-trading-100377nas a2200109   4500008004100000245004900041210004800090260001700138653001200155100001600167856008400183       2012                        eng d00aWhen-issued trading in the Indian IPO market0 aWhenissued trading in the Indian IPO market  aTaiwanc201210aFinance1 aYang, Jimmy  u/biblio/when-issued-trading-indian-ipo-market-400516nas a2200109   4500008004100000245010100041210006900142260003400211653001200245100001600257856013300273       2011                        eng d00aThe choice between rights and underwritten equity offerings: Evidence from Chinese stock markets0 achoice between rights and underwritten equity offerings Evidence  aQueenstown, New Zealandc201110aFinance1 aYang, Jimmy  u/biblio/choice-between-rights-and-underwritten-equity-offerings-evidence-chinese-stock-markets-401198nas a2200169   4500008004100000245005600041210005600097260000900153300001200162490000800174520068100182653001200863100001700875700002700892700001600919856009300935       2011                        eng d00aInternational diversification with frontier markets0 aInternational diversification with frontier markets  c2011  a227-2420 v1013 aWe provide an analysis of frontier market equities with respect to world market integration and diversification. Principal component results reveal that frontier markets exhibit low levels of integration. In contrast with developed and emerging markets, frontier markets offer no indication of increasing integration through time. Furthermore, individual frontier market countries do not exhibit consistent rates of changing integration. Structural break tests identify breakpoints in integration, as well as integration dynamics across countries. We show that frontier markets have low integration with the world market and thereby offer significant diversification benefits.10aFinance1 aBerger, Dave1 aPukthuanthong, Kuntara1 aYang, Jimmy  u/biblio/international-diversification-frontier-markets-201337nas a2200157   4500008004100000245006900041210006700110260000900177300001200186490000700198520082300205653001201028100001401040700001601054856010901070       2011                        eng d00aPrivate Debt, Unused Credit Lines, and Seasoned Equity Offerings0 aPrivate Debt Unused Credit Lines and Seasoned Equity Offerings  c2011  a376-3880 v513 aWe study a sample of SEOs to examine the impact of private debt and unused credit lines on SEO underpricing and long-run stock and operating performance. We do not find significant effects of private debt financing on SEO underpricing and long-run stock underperformance. However, firms with more bank debt and unused lines of credit exhibit significantly better pre-issue operating performance. Changes in operating performance from the pre-issue year to the post-issue period are negatively related to the size of unused credit lines. Capital spending decreases with the size of unused credit lines in the year prior to SEOs, but increases following SEOs. Our overall evidence suggests that the post-issue operating performance we observed may be a result of overinvestment, which is enhanced by unused credit lines.10aFinance1 aLiu, Yang1 aYang, Jimmy  u/biblio/private-debt-unused-credit-lines-and-seasoned-equity-offerings-000369nas a2200109   4500008004100000245004400041210004400085260001600129653001200145100001600157856008600173       2011                        eng d00aReconsidering Price Limit Effectiveness0 aReconsidering Price Limit Effectiveness  aMacaoc201110aFinance1 aYang, Jimmy  u/biblio/reconsidering-price-limit-effectiveness-300381nas a2200109   4500008004100000245004400041210004400085260002800129653001200157100001600169856008600185       2011                        eng d00aReconsidering Price Limit Effectiveness0 aReconsidering Price Limit Effectiveness  aSydney, Australiac201110aFinance1 aYang, Jimmy  u/biblio/reconsidering-price-limit-effectiveness-400469nas a2200133   4500008004100000245005600041210005600097260001700153653001200170100001700182700002700199700001600226856009300242       2010                        eng d00aInternational diversification with frontier markets0 aInternational diversification with frontier markets  aTaipeic201010aFinance1 aBerger, Dave1 aPukthuanthong, Kuntara1 aYang, Jimmy  u/biblio/international-diversification-frontier-markets-300481nas a2200133   4500008004100000245005600041210005600097260002900153653001200182100001700194700001600211700002700227856009300254       2010                        eng d00aInternational Diversification with Frontier Markets0 aInternational Diversification with Frontier Markets  aNew York, New Yorkc201010aFinance1 aBerger, Dave1 aYang, Jimmy1 aPukthuanthong, Kuntara  u/biblio/international-diversification-frontier-markets-401697nas a2200169   4500008004100000245010700041210006900148260000900217300001200226490000700238520108600245653001201331653001701343100001801360700001601378856013301394       2010                        eng d00aVenture Capital, Ownership Structure, Accounting Standards and IPO Underpricing: Evidence from Germany0 aVenture Capital Ownership Structure Accounting Standards and IPO  c2010  a517-5360 v623 aThis study investigates the impact of venture capital (VC), ownership structure, and accounting standards on initial public offering (IPO) underpricing in Germany. Using data from Germany's Neuer Markt (NM), we test two key hypotheses regarding IPO underpricing; first, whether VC ownership and higher levels of post-IPO insider ownership result in lower underpricing, and second, whether additional information disclosure results in lower underpricing. Besides the standard underpricing measure, we also use a modified underpricing measure to better assess true entrepreneurial wealth loss. Robust findings indicate that none of these factors are significant in lowering IPO underpricing, which suggests the importance of examining standard theories within alternative institutional environments. Results are consistent with the stylized fact that Germany's NM firms had relatively minimal use of VC financing, which may point to not only a weaker role for venture capitalists in Germany but fewer incentives to reduce information asymmetry arising from outside ownership.<br><br>10aFinance10aOSU-Cascades1 aElston, Julie1 aYang, Jimmy  u/biblio/venture-capital-ownership-structure-accounting-standards-and-ipo-underpricing-evidence-001259nas a2200169   4500008004100000245008500041210006900126260000900195300001200204490000700216520068500223653001200908653001700920100002100937700001600958856011500974       2009                        eng d00aA censored stochastic volatility approach to the estimation of price limit moves0 acensored stochastic volatility approach to the estimation of pri  c2009  a337-3510 v163 aA censored stochastic volatility model is developed to reconstruct a return series censored by price limits, one popular form of market stabilization mechanisms. When price limits are reached, the observed prices are truncated and the equilibrium prices are unobservable, which makes further financial analyses difficult. The model offers theoretically sound estimates of censored returns and is demonstrated via simulations to outperform existing approaches with respect to the estimates of model parameters, unconditional means, and standard deviations. The algorithm is applied to model stock and futures returns and results are consistent with the simulation outcomes.<br><br>10aFinance10aSupply Chain1 aHsieh, Ping-Hung1 aYang, Jimmy  u/biblio/censored-stochastic-volatility-approach-estimation-price-limit-moves-001328nas a2200157   4500008004100000245007800041210006900119260000900188300001200197490000600209520079300215653001201008100001801020700001601038856011601054       2009                        eng d00aEffect of price limits: initial public offerings versus seasoned equities0 aEffect of price limits initial public offerings versus seasoned   c2009  a295-3180 v93 aIn this paper, we examine the effect of price limits on initial public offerings (IPOs) using Taiwanese data. On average, it takes 6.24 days for IPOs to reach their equilibrium prices in the presence of a 7% price limit. We compare IPOs with their industry- and size-matched seasoned equities (MSEs) and observe higher volatility levels on subsequent days for IPOs than for MSEs. However, the higher volatility decays within 2 days. Lower price limits interfere with trading and lead to higher trading activity on subsequent days for IPOs than for MSEs. We also observe delayed price discovery for both IPOs and MSEs. Overall, our results provide evidence about the effect of price limits on IPOs and generate important regulatory implications for countries imposing price limits on IPOs.10aFinance1 aKim, Yong, H.1 aYang, Jimmy  u/biblio/effect-price-limits-initial-public-offerings-versus-seasoned-equities-001149nas a2200181   4500008004100000245005600041210005100097260000900148300001200157490000700169520062000176653001200796653001700808100002100825700001700846700001600863856008800879       2009                        eng d00aThe magnet effect of price limits: a logit approach0 amagnet effect of price limits a logit approach  c2009  a830-8370 v163 aWe investigate the magnet effect of price limits using transaction data from the Taiwan Stock Exchange. A logit model incorporates explanatory variables from microstructure literature and reveals that the conditional probability of a price increase (decrease) increases significantly when the price approaches the upper (lower) price limit, in support of the magnet effect. Our approach recognizes when the magnet effect starts to emerge and identifies possible determinants of magnet effect. The probability of information-based trading has a significant impact on the magnet effect for lower price limits.<br><br>10aFinance10aSupply Chain1 aHsieh, Ping-Hung1 aKim, Yong, H1 aYang, Jimmy  u/biblio/magnet-effect-price-limits-logit-approach-001309nas a2200157   4500008004100000245008000041210006900121260000900190300001200199490000700211520077500218653001200993100001801005700001601023856011201039       2008                        eng d00aThe Effect of Price Limits on Intraday Volatility and Information Asymmetry0 aEffect of Price Limits on Intraday Volatility and Information As  c2008  a522-5380 v163 aWe investigate the effect of price limits on intra-day volatility and information asymmetry using transactions data from the Taiwan Stock Exchange. Proponents of price limits argue that they provide an opportunity for investors to reevaluate market information and make more rational trading decisions. We identify three different limit hits – closing, single, and consecutive – and hypothesize that only the consecutive limit hits are likely to provide such an opportunity, namely, to counter investor overreaction (volatility hypothesis) and to enhance information revelation (information asymmetry hypothesis). Our empirical evidence supports the volatility hypothesis. Our findings generate important policy implications for stock markets that have price limits.10aFinance1 aKim, Yong, H.1 aYang, Jimmy  u/biblio/effect-price-limits-intraday-volatility-and-information-asymmetry-000421nas a2200121   4500008004100000245005400041210005300095260001700148653001200165100002000177700001600197856008600213       2008                        eng d00aEmerging from Bankruptcy with When-Issued Trading0 aEmerging from Bankruptcy with WhenIssued Trading  aDallasc200810aFinance1 aBrooks, Raymond1 aYang, Jimmy  u/biblio/emerging-bankruptcy-when-issued-trading-200584nas a2200133   4500008004100000245012000041210006900161260002400230653001200254653001700266100001600283700001800299856013300317       2008                        eng d00aThe Impact of Accounting Standards and Ownership Structure on IPO Underpricing: Evidence from Germany's Neuer Markt0 aImpact of Accounting Standards and Ownership Structure on IPO Un  aLas Vegas, NVc200810aFinance10aOSU-Cascades1 aYang, Jimmy1 aElston, Julie  u/biblio/impact-accounting-standards-and-ownership-structure-ipo-underpricing-evidence-germanys-000583nas a2200133   4500008004100000245012300041210006900164260002000233653001200253653001700265100001600282700001800298856013300316       2008                        eng d00aThe impact of accounting standards and ownership structure on IPO underpricing: evidence from Germany’s Neuer Market0 aimpact of accounting standards and ownership structure on IPO un  aLas Vegasc200810aFinance10aOSU-Cascades1 aYang, Jimmy1 aElston, Julie  u/biblio/impact-accounting-standards-and-ownership-structure-ipo-underpricing-evidence-germanys-101303nas a2200169   4500008004100000245010100041210006900142260000900211300001200220490000700232520070200239653001200941100001800953700001600971700001600987856013001003       2008                        eng d00aRelative Performance of Trading Halts and Price Limits: Evidence from the Spanish Stock Exchange0 aRelative Performance of Trading Halts and Price Limits Evidence   c2008  a197-2150 v173 aWe study the relative performance of trading halts and price limits using data from the Spanish Stock Exchange where both mechanisms have coexisted. According to our evidence, trading activity increases after either mechanism is triggered. Volatility stays the same after trading halts but increases after price limit hits. Our evidence also shows that the bid–ask spread is narrower after trading halts but wider after price limit hits. Information is efficiently reflected in stock prices once trading resumes after trading halts, but there is evidence of market overreaction for upper price limits. Our overall result may have important policy implications for financial markets in the world.10aFinance1 aKim, Yong, H.1 aYague, Jose1 aYang, Jimmy  u/biblio/relative-performance-trading-halts-and-price-limits-evidence-spanish-stock-exchange-000556nas a2200133   4500008004100000245010500041210006900146260001800215653001500233653001200248100001300260700001600273856013300289       2007                        eng d00aThe choice between rights and underwritten equity offerings: evidence from the Chinese Stock Markets0 achoice between rights and underwritten equity offerings evidence  aOrlandoc200710aAccounting10aFinance1 aDang, Li1 aYang, Jimmy  u/biblio/choice-between-rights-and-underwritten-equity-offerings-evidence-chinese-stock-markets-300528nas a2200145   4500008004100000245007100041210006600112260002000178653001200198653001700210100002100227700001800248700001600266856010000282       2007                        eng d00aThe Magnet Effect of Price Limits: Evidence from Transactions Data0 aMagnet Effect of Price Limits Evidence from Transactions Data  aHong Kongc200710aFinance10aSupply Chain1 aHsieh, Ping-Hung1 aKim, Yong, H.1 aYang, Jimmy  u/biblio/magnet-effect-price-limits-evidence-transactions-data-201151nas a2200157   4500008004100000245009000041210006900131260000900200300001000209490000600219520059900225653001200824100002000836700001600856856012100872       2007                        eng d00aTeaching an Old Dog New Tricks: Using the Dividend Growth Model in Financial Planning0 aTeaching an Old Dog New Tricks Using the Dividend Growth Model i  c2007  a65-730 v63 aThe Dividend Growth Model is a standard pedagogical tool in pricing stocks where the dividend grows at a constant rate. However, few dividend policies conform to this restrictive pattern and therefore the model is often quickly discarded in finance classes. The constant growth assumption of a cash flow stream fits well with other financial problems such as saving for a college education or contributions to a pension plan. This paper presents a couple of applications for the Dividend Growth Model plus an extension to the model and belies the adage: you can’t teach an old dog new tricks.10aFinance1 aBrooks, Raymond1 aYang, Jimmy  u/biblio/teaching-old-dog-new-tricks-using-dividend-growth-model-financial-planning-000270nas a2200109   4500008004100000245001300041210001300054260000900067653001200076100001600088856005600104       2007                        eng d00aUntitled0 aUntitled  c200710aFinance1 aYang, Jimmy  u/biblio/untitled-3700536nas a2200121   4500008004100000245009900041210006900140260003100209653001200240100001600252700001400268856013200282       2006                        eng d00aAre banking relations beneficial to established firms? evidence from seasoned equity offerings0 aAre banking relations beneficial to established firms evidence f  aSalt Lake City, Utahc200610aFinance1 aYang, Jimmy1 aLiu, Yang  u/biblio/are-banking-relations-beneficial-established-firms-evidence-seasoned-equity-offerings-000467nas a2200121   4500008004100000245007200041210006900113260001700182653001200199100001600211700001700227856010100244       2006                        eng d00aCooling-off effect of price limits: evidence from transactions data0 aCoolingoff effect of price limits evidence from transactions dat  aBostonc200610aFinance1 aYang, Jimmy1 aKim, Yong, H  u/biblio/cooling-effect-price-limits-evidence-transactions-data-000539nas a2200145   4500008004100000245007100041210006600112260003100178653001200209653001700221100001600238700002100254700001800275856010000293       2006                        eng d00aThe magnet effect of price limits: evidence from transactions data0 amagnet effect of price limits evidence from transactions data  aSalt Lake City, Utahc200610aFinance10aSupply Chain1 aYang, Jimmy1 aHsieh, Ping-Hung1 aKim, Yong, H.  u/biblio/magnet-effect-price-limits-evidence-transactions-data-300538nas a2200145   4500008004100000245007100041210006600112260003000178653001200208653001700220100002100237700001800258700001600276856010000292       2006                        eng d00aThe Magnet Effect of Price Limits: Evidence from Transactions Data0 aMagnet Effect of Price Limits Evidence from Transactions Data  aSeattle, Washingtonc200610aFinance10aSupply Chain1 aHsieh, Ping-Hung1 aKim, Yong, H.1 aYang, Jimmy  u/biblio/magnet-effect-price-limits-evidence-transactions-data-400394nas a2200109   4500008004100000245005100041210005000092260002800142653001200170100001600182856008600198       2004                        eng d00aCooling-off and magnet effects of price limits0 aCoolingoff and magnet effects of price limits  aKaohsiung, Taiwanc200410aFinance1 aYang, Jimmy  u/biblio/cooling-and-magnet-effects-price-limits-000494nas a2200121   4500008004100000245007900041210006900120260002500189653001200214100001600226700001800242856011200260       2004                        eng d00aThe effect of price limits: initial public offerings vs. seasoned equities0 aeffect of price limits initial public offerings vs seasoned equi  aNew Orleans LAc200410aFinance1 aYang, Jimmy1 aKim, Yong, H.  u/biblio/effect-price-limits-initial-public-offerings-vs-seasoned-equities-001369nas a2200157   4500008004100000245007500041210006900116260000900185300001200194490000700206520084200213653001201055100001801067700001601085856011001101       2004                        eng d00aWhat makes circuit breakers attractive to financial markets?  A survey0 aWhat makes circuit breakers attractive to financial markets A su  c2004  a109-1460 v133 aAfter the stock market crash of October 1987, the Brady Report (1988) and several academic researchers suggested the imposition of "circuit breakers" to prevent the market from fluctuating excessively. Most financial markets in the world have imposed circuit breaker systems, in the form of price limits and trading halts, in an attempt to reduce excessive market volatility. Similar to any other regulations, circuit breakers have proponents and opponents. In this survey, we analyze the benefits and costs of each type of circuit breaker, provide existing theoretical models and predictions related to each type of circuit breaker, and present findings from empirical studies to justify or disqualify the existence of circuit breakers. In addition, we synthesize existing studies and offer directions for further research in this area.10aFinance1 aKim, Yong, H.1 aYang, Jimmy  u/biblio/what-makes-circuit-breakers-attractive-financial-markets-survey-000373nas a2200121   4500008004100000245003400041210003400075260002000109653001200129100001600141700001800157856007600175       2003                        eng d00aPrice limits and overreaction0 aPrice limits and overreaction  aDenver COc200310aFinance1 aYang, Jimmy1 aKim, Yong, H.  u/biblio/price-limits-and-overreaction-000535nas a2200133   4500008004100000245008600041210006900127260002000196653001200216100001600228700001800244700001600262856012300278       2003                        eng d00aThe relative performance between price limits and trading halts: Spanish evidence0 arelative performance between price limits and trading halts Span  aDenver COc200310aFinance1 aYang, Jimmy1 aKim, Yong, H.1 aYague, Jose  u/biblio/relative-performance-between-price-limits-and-trading-halts-spanish-evidence-200539nas a2200133   4500008004100000245008600041210006900127260002400196653001200220100001600232700001800248700001600266856012300282       2003                        eng d00aThe relative performance between price limits and trading halts: Spanish evidence0 arelative performance between price limits and trading halts Span  aCorvallis, ORc200310aFinance1 aYang, Jimmy1 aKim, Yong, H.1 aYague, Jose  u/biblio/relative-performance-between-price-limits-and-trading-halts-spanish-evidence-300524nas a2200133   4500008004100000245008600041210006900127260000900196653001200205100001600217700001800233700001600251856012300267       2002                        eng d00aThe relative performance between price limits and trading halts: Spanish evidence0 arelative performance between price limits and trading halts Span  c200210aFinance1 aYang, Jimmy1 aKim, Yong, H.1 aYague, Jose  u/biblio/relative-performance-between-price-limits-and-trading-halts-spanish-evidence-400526nas a2200121   4500008004100000245010000041210006900141260002600210653001200236100001600248700001800264856012200282       2001                        eng d00aThe impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange0 aimpact of price limits on initial public offerings evidence from  aToronto, Canadac200110aFinance1 aYang, Jimmy1 aKim, Yong, H.  u/biblio/impact-price-limits-initial-public-offerings-evidence-taiwan-stock-exchange-200509nas a2200121   4500008004100000245010000041210006900141260000900210653001200219100001600231700001800247856012200265       2001                        eng d00aThe impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange0 aimpact of price limits on initial public offerings evidence from  c200110aFinance1 aYang, Jimmy1 aKim, Yong, H.  u/biblio/impact-price-limits-initial-public-offerings-evidence-taiwan-stock-exchange-300523nas a2200121   4500008004100000245010000041210006900141260002300210653001200233100001600245700001800261856012200279       2001                        eng d00aThe impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange0 aimpact of price limits on initial public offerings evidence from  aCleveland OHc200110aFinance1 aYang, Jimmy1 aKim, Yong, H.  u/biblio/impact-price-limits-initial-public-offerings-evidence-taiwan-stock-exchange-4