香港大学 香港大学经管学院
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发表论文

28
Jul
2023
Dr. Ye LUO

Estimation and inference of treatment effects with L2-boosting in high-dimensional settings

Empirical researchers are increasingly faced with rich data sets containing many controls or instrumental variables, making it essential to choose an appropriate approach to variable selection. In this paper, we provide results for valid inference after
2023-07-28
Journal of Econometrics
31
Mar
2023
Dr. Yang YOU

Redeemable Platform Currencies

Can massive online retailers such as Amazon and Alibaba issue digital tokens that potentially compete with bank debit accounts? There is a long history of trading stamps and loyalty points, but new technologies are poised to sharply raise the significance
2023-03-31
The Review of Economic Studies
23
Jan
2023
Dr. Mingzhu TAI

Lending Next to the Courthouse: Exposure to Adverse Events and Mortgage Lending Decisions

Adverse market events can affect credit supply not only by hurting financial fundamentals but also by changing the risk-taking behaviors of individual decision makers. We provide micro-level evidence of this individual decision-making channel in the U.S.
2023-01-23
Journal of Financial and Quantitative Analysis
28
Jul
2022
Dr. Mingzhu TAI

Paying for beta: Leverage demand and asset management fees

We examine how investor demand for leverage shapes asset management fees. We show that in the sample of U.S. equity mutual funds: (1) fees increase in fund market beta precisely for beta larger than one; (2) this relation becomes stronger and high-beta fu
2022-07-28
Journal of Financial Economics
28
May
2022
Dr. Yang YOU

Converging to Convergence

Empirical tests in the 1990s found little evidence of poor countries catching up with rich—unconditional convergence—since the 1960s, and divergence over longer periods. This stylized fact spurred several developments in growth theory, including AK models
2022-05-28
NBER Macroeconomics Annual 2021
28
Nov
2021
Prof. Chen LIN

Globalization and U.S. Corporate Tax Policies: Evidence from Import Competition

This paper studies how globalization affects the corporate tax policies of U.S. manufacturing firms. Using U.S.-granting China Permanent Normal Trade Relations as a quasi-natural experiment, we find a significant increase in tax reduction activities for f
2021-11-28
Management Science
28
Aug
2021
Prof. Chen LIN

Deposit Supply and Bank Transparency

Does a bank’s dependence on different external funding sources shape its voluntary disclosure of information? We evaluate whether economic shocks that increase the supply of bank deposits alter the cost–benefit calculations of bank managers concerning vol
2021-08-28
Management Science
28
Jun
2021
Prof. Chen LIN

How Did Depositors Respond to COVID-19?

Why did banks experience massive deposit inflows during the pandemic? We discover that deposit interest rates at bank branches in counties with higher COVID-19 infection rates fell by more than rates at branches—even branches of the same bank—in counties
2021-06-28
The Review of Financial Studies
31
Mar
2021
Dr. Fangzhou LU

The real value of China’s stock market

What capital allocation role can China’s stock market play? Counter to perception, stock prices in China have become as informative about future profits as they are in the US. This rise in stock price informativeness has coincided with an increase in inve
2021-03-31
Journal of Financial Economics
31
Mar
2021
Prof. Chen LIN

Finance and Firm Volatility: Evidence from Small Business Lending in China

The online trading platform Alibaba provides financial technology (FinTech) credit for millions of micro, small, and medium-sized enterprises (MSMEs). Using a novel data set of daily sales and an internal credit score threshold that governs the allocation
2021-03-31
Management Science
28
Jan
2019
Dr. Yang YOU

Bubbles for Fama

We evaluate Eugene F. Fama's claim that stock prices do not exhibit price bubbles. Based on US industry returns (1926‒2014) and international sector returns (1985‒2014), we present four findings (1) Fama is correct in that a sharp price increase of an ind
2019-01-28
Journal of Financial Economics
28
Jul
2023
Dr. Ye LUO

Estimation and inference of treatment effects with L2-boosting in high-dimensional settings

Empirical researchers are increasingly faced with rich data sets containing many controls or instrumental variables, making it essential to choose an appropriate approach to variable selection. In this paper, we provide results for valid inference after
2023-07-28
Journal of Econometrics
31
Mar
2023
Dr. Yang YOU

Redeemable Platform Currencies

Can massive online retailers such as Amazon and Alibaba issue digital tokens that potentially compete with bank debit accounts? There is a long history of trading stamps and loyalty points, but new technologies are poised to sharply raise the significance
2023-03-31
The Review of Economic Studies
23
Jan
2023
Dr. Mingzhu TAI

Lending Next to the Courthouse: Exposure to Adverse Events and Mortgage Lending Decisions

Adverse market events can affect credit supply not only by hurting financial fundamentals but also by changing the risk-taking behaviors of individual decision makers. We provide micro-level evidence of this individual decision-making channel in the U.S.
2023-01-23
Journal of Financial and Quantitative Analysis
28
Jul
2022
Dr. Mingzhu TAI

Paying for beta: Leverage demand and asset management fees

We examine how investor demand for leverage shapes asset management fees. We show that in the sample of U.S. equity mutual funds: (1) fees increase in fund market beta precisely for beta larger than one; (2) this relation becomes stronger and high-beta fu
2022-07-28
Journal of Financial Economics
28
May
2022
Dr. Yang YOU

Converging to Convergence

Empirical tests in the 1990s found little evidence of poor countries catching up with rich—unconditional convergence—since the 1960s, and divergence over longer periods. This stylized fact spurred several developments in growth theory, including AK models
2022-05-28
NBER Macroeconomics Annual 2021
28
Nov
2021
Prof. Chen LIN

Globalization and U.S. Corporate Tax Policies: Evidence from Import Competition

This paper studies how globalization affects the corporate tax policies of U.S. manufacturing firms. Using U.S.-granting China Permanent Normal Trade Relations as a quasi-natural experiment, we find a significant increase in tax reduction activities for f
2021-11-28
Management Science
28
Aug
2021
Prof. Chen LIN

Deposit Supply and Bank Transparency

Does a bank’s dependence on different external funding sources shape its voluntary disclosure of information? We evaluate whether economic shocks that increase the supply of bank deposits alter the cost–benefit calculations of bank managers concerning vol
2021-08-28
Management Science
28
Jun
2021
Prof. Chen LIN

How Did Depositors Respond to COVID-19?

Why did banks experience massive deposit inflows during the pandemic? We discover that deposit interest rates at bank branches in counties with higher COVID-19 infection rates fell by more than rates at branches—even branches of the same bank—in counties
2021-06-28
The Review of Financial Studies
31
Mar
2021
Dr. Fangzhou LU

The real value of China’s stock market

What capital allocation role can China’s stock market play? Counter to perception, stock prices in China have become as informative about future profits as they are in the US. This rise in stock price informativeness has coincided with an increase in inve
2021-03-31
Journal of Financial Economics
31
Mar
2021
Prof. Chen LIN

Finance and Firm Volatility: Evidence from Small Business Lending in China

The online trading platform Alibaba provides financial technology (FinTech) credit for millions of micro, small, and medium-sized enterprises (MSMEs). Using a novel data set of daily sales and an internal credit score threshold that governs the allocation
2021-03-31
Management Science
28
Jan
2019
Dr. Yang YOU

Bubbles for Fama

We evaluate Eugene F. Fama's claim that stock prices do not exhibit price bubbles. Based on US industry returns (1926‒2014) and international sector returns (1985‒2014), we present four findings (1) Fama is correct in that a sharp price increase of an ind
2019-01-28
Journal of Financial Economics
研究成果
领域分类

专栏作者

Dr. Jingcun CAO
Dr. Bonnie Hayden CHENG
Dr. Chu (Ivy) DANG
Prof. Yulin FANG
Dr. Guojun HE
Dr. Shan HUANG
Prof. Zhenhui Jack JIANG
Dr. Michael He JIA
Prof. Chen LIN
Dr. Tianyi LI
Dr. Fangzhou LU
Prof. Tse-Chun LIN
Dr. Haishi LI
Dr. Jing LI
Dr. Xu LI
Dr. Ye LUO
Prof. Haipeng SHEN
Dr. Mingzhu TAI
Dr. Feng TIAN
Prof. Echo Wen WAN
Dr. Steven Pai XU
Dr. Yang You
Dr. Helen Hailin ZHAO
Prof. Kevin Zheng ZHOU
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