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Research Outputs 1998 2019

2019

CRA reputation and bond yield: evidence from the Chinese bond market

Hu, X., Huang, H., Shi, J. & Wang, H., 1 Apr 2019, In : Asia-Pacific Journal of Financial Studies. 48, 2, p. 185-209 25 p.

Research output: Contribution to journalArticleResearchpeer-review

Bond market
Credit rating agencies
Bond yields
Reputation effect
China

Dynamic expected shortfall: A spectral decomposition of tail risk across time horizons

Bu, D., Liao, Y., Shi, J. & Peng, H., Nov 2019, In : Journal of Economic Dynamics and Control. 108, p. 1-15 15 p., 103753.

Research output: Contribution to journalArticleResearchpeer-review

Expected Shortfall
Spectral Decomposition
Horizon
Tail
Decomposition

Information asymmetry and credit rating: A quasi-natural experiment from China

Hu, X., Huang, H., Pan, Z. & Shi, J., Sep 2019, In : Journal of Banking and Finance. 106, p. 132-152 21 p.

Research output: Contribution to journalArticleResearchpeer-review

Natural experiment
Information asymmetry
Credit rating agencies
Rating
China

Institutional quality, investment efficiency, and the choice of public–private partnerships

Dao, N. H., Marisetty, V. B., Shi, J. & Tan, M., 1 Aug 2019, In : Accounting and Finance. 34 p.

Research output: Contribution to journalArticleResearchpeer-review

Investment efficiency
Institutional quality
Public-private partnerships
Capital constraints
Cash flow

Locational effects and the cost of corporate bonds: the role of information

Hu, T., Hu, X., Huang, H., Shi, J. & Wang, H., 1 Nov 2019, In : Accounting and Finance. 59, S2, p. 1977-2016 40 p.

Research output: Contribution to journalArticleResearchpeer-review

Corporate bonds
Costs
Municipalities
Public firm
Credit rating

Parasites and Paragons: Ownership Reform and Concentrated Interest among Minority Shareholders

Jia, N., Shi, J., Wang, C. & Wang, Y., 9 Oct 2019, In : Journal of Management Studies. 34 p.

Research output: Contribution to journalArticleResearchpeer-review

Shareholders
Parasites
Ownership
Minority shareholders
Investors
2018

Dividend persistence and dividend behaviour

Chan, K. F., Powell, J. G., Shi, J. & Smith, T., Mar 2018, In : Accounting and Finance. 58, 1, p. 127-147 21 p.

Research output: Contribution to journalArticleResearchpeer-review

Dividends
Persistence
Spurious regression
Predictors
Common component

Should financial gatekeepers be publicly traded?

Huang, H., Li, M. & Shi, J., 31 Oct 2018, In : Journal of business ethics. 26 p.

Research output: Contribution to journalArticleResearchpeer-review

Broker
Gatekeeper
Initial public offerings
Analysts
Financial analysts

Social ties and favoritism in Chinese science

Fisman, R., Shi, J., Wang, Y. & Xu, R., 2018, In : Journal of Political Economy. 126, 3, p. 1134-1171 38 p.

Research output: Contribution to journalArticleResearchpeer-review

Favoritism
Social ties
Resource allocation
China
Funding

The Interdependence of public and private stakeholder influence: A study of political patronage and corporate philanthropy in China

Jia, N., Shi, J. & Wang, Y., 2018, Sustainability, stakeholder governance, and corporate social responsibility. Dorobantu, S., Aguilera, R. V., Luo, J. & Milliken, F. J. (eds.). Bingley: Emerald Publishing, p. 69-93 25 p. (Advances in Strategic Management; vol. 38).

Research output: Chapter in Book/Report/Conference proceedingChapterResearchpeer-review

Corporate philanthropy
Stakeholder influence
Patronage
China
Interdependence

Twenty years of accounting and finance research on the Chinese capital market

Han, J., He, J., Pan, Z. & Shi, J., Dec 2018, In : Abacus. 54, 4, p. 576-599 24 p.

Research output: Contribution to journalArticleResearchpeer-review

Capital markets
Finance
Economic reform
Field research
Regulatory reform

Value creation and value capture in governing shareholder relationships: evidence from a policy experiment in an emerging market

Jia, N., Shi, J. & Wang, Y., Sep 2018, In : Strategic Management Journal. 39, 9, p. 2466-2488 23 p.

Research output: Contribution to journalArticleResearchpeer-review

Shareholders
Emerging markets
Minority shareholders
Value creation
Experiment
2017

The dynamics of political embeddedness in China

Haveman, H., Jia, N., Shi, J. & Wang, Y., 2017, In : Administrative Science Quarterly. 62, 1, p. 67-104 38 p.

Research output: Contribution to journalArticleResearchpeer-review

firm
China
uncertainty
political institution
loan
2016

External finance and dividend policy: a twist by financial constraints

He, Z., Chen, X., Huang, W., Pan, R. & Shi, J., Dec 2016, In : Accounting and Finance. 56, 4, p. 935-959 25 p.

Research output: Contribution to journalArticleResearchpeer-review

External finance
Dividend policy
Twist
Financial constraints
Dividends

Which matters: "paying to play" or stable business relationship? Evidence on analyst recommendation and mutual fund commission fee payment

Huang, H., Li, M. & Shi, J., Dec 2016, In : Pacific-Basin finance journal. 40, B, p. 403-423 21 p.

Research output: Contribution to journalArticleResearchpeer-review

Payment
Fees
Analyst recommendations
Mutual funds
Business relationships

Why do firms pay stock dividends: is it just a stock split?

He, X., Li, M., Shi, J. & Twite, G., Aug 2016, In : Australian Journal of Management. 41, 3, p. 508-537 30 p.

Research output: Contribution to journalArticleResearchpeer-review

Stock dividends
Stock splits
Private ownership
Leverage
Shareholder protection
2015

Investor heterogeneity and commonality in stock return and liquidity

Pan, D., Shi, J., Wu, F. & Zhang, B., Sep 2015, In : Economic Systems. 39, 3, p. 458-473 16 p.

Research output: Contribution to journalArticleResearchpeer-review

Liquidity
Stock returns
Commonality
Retail trade
Investors

Should stock market return forecasts be conditioned on politics?

Powell, J. G., Qian, M., Shi, J. & Zhu, Q., 1 Nov 2015, In : Australian Journal of Management. 40, 4, p. 672-700 29 p.

Research output: Contribution to journalArticleResearchpeer-review

Stock market returns
Dummy variables
Bootstrap
Persistence
Simulation
2014

The differential impact of the bank–firm relationship on IPO underpricing: evidence from China

Hao, X., Shi, J. & Yang, J., 2014, In : Pacific-Basin finance journal. 30, p. 207-232

Research output: Contribution to journalArticleResearchpeer-review

China
IPO underpricing
Bank-firm relationships
Loans
Firm characteristics

Volatile market condition and investor clientele effects on mutual fund flow performance relationship

Xiao, J., Li, M. & Shi, J., 2014, In : Pacific-Basin finance journal. 29, p. 310-334

Research output: Contribution to journalArticleResearchpeer-review

Clientele
Mutual fund flows
Investors
Market conditions
Mutual funds
2013

Coinsurance within business groups: evidence from related party transactions in an emerging market

Jia, N., Shi, J. & Wang, Y., Oct 2013, In : Management Science. 59, 10, p. 2295-2313 19 p.

Research output: Contribution to journalArticleResearchpeer-review

Emerging markets
Coinsurance
Related party transactions
Business groups
Controller

Do heterogeneous background risks matter to households' asset allocation?

Cai, M., Shi, J., Ni, Y. & Pan, R., Aug 2013, In : Asia-Pacific Journal of Financial Studies. 42, 4, p. 563-589 27 p.

Research output: Contribution to journalArticleResearchpeer-review

Household
Background risk
Asset allocation
Factors
Assets

Price and volatility dynamics between securitized real estate spot and futures markets

Shi, J. & Wu, T., 2013, In : Economic Modelling. 35, p. 582-592

Research output: Contribution to journalArticleResearchpeer-review

Real estate
Futures markets
Spot market
Volatility transmission
Hedging effectiveness
2012

The impact of terrorism on global equity market integration

Bilson, C., Braislford, T., Hallet, A. & Shi, J., 2012, In : Australian Journal of Management. 37, 1, p. 47-60 14 p.

Research output: Contribution to journalArticleResearchpeer-review

Contagion
Terrorism
Equity market integration
Risk factors
Equity markets
2011

Heterogeneous investor’s reaction to exchange rate movement: new evidence from a unique emerging market

Bae, S., Li, M. & Shi, J., 2011, In : Emerging Markets Finance and Trade. 47, Sup 1, p. 7-22 16 p.

Research output: Contribution to journalArticleResearchpeer-review

Investors
Exchange rates
Emerging markets
Market efficiency
Stock returns

IPO trading without market makers or underwriter price support

Bradley, D., Li, M. & Shi, J., 2011, In : Financial Review. 46, 3, p. 459-483 25 p.

Research output: Contribution to journalArticleResearchpeer-review

Underwriters
Price support
Market makers
Initial public offerings
Order imbalance
2010

Foreign direct investment and international stock market integration

Shi, J., Bilson, C., Powell, J. G. & Wigg, J., 2010, In : Australian Journal of Management. 35, 3, p. 265-290

Research output: Contribution to journalArticleResearchpeer-review

Stock market integration
International stock markets
Foreign direct investment
Bilateral
Empirical test
2009

Common divisors, payout persistence, and return predictability

Powell, J., Shi, J., Smith, T. & Whaley, R., Dec 2009, In : International Review of Finance. 9, 4, p. 335-357 23 p.

Research output: Contribution to journalArticleResearchpeer-review

Persistence
Payout
Return predictability
Ordinary least squares
Critical value

Does the law of one price hold better under a flexible exchange rate system?

Bae, S., Li, M. & Shi, J., Oct 2009, In : Journal of Multinational Financial Management. 19, 4, p. 306-322 17 p.

Research output: Contribution to journalArticleResearchpeer-review

Law of one price
Exchange rate systems
Flexible exchange rates
China
Discount

Political regimes, business cycles, seasonalities, and returns

Powell, J. G., Shi, J., Smith, T. & Whaley, R. E., Jun 2009, In : Journal of Banking and Finance. 33, 6, p. 1112-1128 17 p.

Research output: Contribution to journalArticleResearchpeer-review

Seasonality
Business cycles
Political regime
Persistence
Simulation
2008

Valuation uncertainty risk compensation and IPO prospectus earnings forecasts

Shi, J., Bilson, C. M. & Powell, J. G., 2008, In : Applied Economics Letters. 15, 5, p. 331-335 5 p.

Research output: Contribution to journalArticleResearchpeer-review

Earnings forecasts
Long-run performance
Initial public offerings
Uncertainty
Underpricing
2007

A test for long-term cyclical clustering of stock market regimes

Powell, J., Roa, R., Shi, J. & Xayavong, V., 2007, In : Australian Journal of Management. 32, 2, p. 205-221 17 p.

Research output: Contribution to journalArticleResearchpeer-review

Stock market
Clustering
Multiple regimes
Likelihood ratio test
Bear market

Chinese stock market cyclical regimes: 1991-2006

Yan, W., Powell, J. G., Shi, J. & Xu, W., Dec 2007, In : Economics Letters. 97, 3, p. 235-239 5 p.

Research output: Contribution to journalArticleResearchpeer-review

Investors
Chinese stock market
Trading rules
Chinese market
Bear market

Do secondary shares in the IPO process have a negative effect on aftermarket performance?

Brau, J. C., Li, M. & Shi, J., Sep 2007, In : Journal of Banking and Finance. 31, 9, p. 2612-2631 20 p.

Research output: Contribution to journalArticleResearchpeer-review

Aftermarket performance
Long-run performance
Shareholders
Long-run returns
Private information

The decision to voluntarily provide an IPO prospectus earnings forecast

Bilson, C. M., Heaney, R. A., Powell, J. G. & Shi, J., Mar 2007, In : Applied Financial Economics Letters. 3, 2, p. 99-102 4 p.

Research output: Contribution to journalArticleResearchpeer-review

Earnings forecasts
Going public
Private firms
Initial public offerings
Costs

The persistent presidential dummy

Powell, J. G., Jing, S., Smith, T. & Whaley, R. E., Dec 2007, In : Journal of Portfolio Management. 33, 2, p. 133-143 11 p.

Research output: Contribution to journalArticleResearchpeer-review

Political parties
Stock market returns
Observer
Statistical tests
Publicity
2005

Two centuries of bull and bear market cycles

Gonzalez, L., Powell, J. G., Shi, J. & Wilson, A., 2005, In : International Review of Economics and Finance. 14, 4, p. 469-486 18 p.

Research output: Contribution to journalArticleResearchpeer-review

Bear market
Bull market
Investors
Turning point
Persistence
2004

Modelling the behaviour of the new issue market

Brailsford, T., Heaney, R. & Shi, J., 2004, In : International Review of Financial Analysis. 13, 2, p. 119-132 14 p.

Research output: Contribution to journalArticleResearchpeer-review

New issues
Market conditions
Underpricing
Initial public offerings
Modeling
2002

Detection of financial time series turning points: a new CUSUM approach applied to IPO cycles

Blondell, D., Hoang, P., Powell, J. G. & Shi, J., May 2002, In : Review of Quantitative Finance and Accounting. 18, 3, p. 293-315 23 p.

Research output: Contribution to journalArticleResearchpeer-review

Cumulative sum
Initial public offerings
Turning point
Financial time series
Regime shift
1999

Endowment warrant valuation

Hoang, P., Powell, J. G. & Shi, J., Sep 1999, In : Journal of Derivatives. 7, 1, p. 91-103 13 p.

Research output: Contribution to journalArticleResearchpeer-review

Endowments
Warrants
Dividends
Exercise
Investors
1998

Measuring the relative efficiency of fund management strategies in New Zealand using a spreadsheet-based stochastic data envelopment analysis model

Premachandra, I. M., Powell, J. G. & Shi, J., 1998, In : Omega. 26, 2, p. 319-331 13 p.

Research output: Contribution to journalArticleResearchpeer-review

New Zealand
Spreadsheet
Management strategy
Fund management
Relative efficiency