TY - JOUR T1 - Corporate Reputation and Hedging Activities JF - Accounting and Finance Y1 - 2023 A1 - Deng,Junfang A1 - Yang,Jimmy KW - Accounting KW - Finance VL - 63 CP - S1 U2 - a U4 - 220996175872 ID - 220996175872 ER - TY - JOUR T1 - Intraday Momentum in the VIX Futures Market JF - Journal of Banking & Finance Y1 - 2023 A1 - Huang,Hong-Gia A1 - Tsai,Wei-Che A1 - Weng,Pei-Shih A1 - Yang,Jimmy KW - Finance VL - 148 U2 - a U4 - 219520659456 ID - 219520659456 ER - TY - JOUR T1 - Aggregate 52-week high, limited attention, and time-varying momentum profits JF - Journal of Banking & Finance Y1 - 2022 A1 - Hung,Weifeng A1 - Lin,Ching-Ting A1 - Yang,Jimmy KW - Finance VL - 141 U2 - a U4 - 233737533440 ID - 233737533440 ER - TY - HEAR T1 - Aggregate 52-week high, limited attention, and time-varying momentum profits Y1 - 2022 A1 - Hung,Weifeng A1 - Lin,Ching-Ting A1 - Yang,Jimmy KW - Finance JA - Research Seminar CY - Victoria, Canada U2 - c U4 - 233738010624 ID - 233738010624 ER - TY - JOUR T1 - Crash-Based Quantitative Trading Strategies: Perspective of Behavioral Finance JF - Finance Research Letters Y1 - 2022 A1 - Fang,Yan A1 - Yuan,Jie A1 - Yang,Jimmy A1 - Ying,Shangjun KW - Finance VL - 45 U2 - a U4 - 218946035712 ID - 218946035712 ER - TY - JOUR T1 - Does the tail risk index matter in forecasting downside risk? JF - International Journal of Finance and Economics Y1 - 2022 A1 - Hung,Jui-Cheng A1 - Liu,Hung-Chun A1 - Yang,Jimmy KW - Finance U2 - a U4 - 219521509376 ID - 219521509376 ER - TY - JOUR T1 - Family control, external governance mechanisms, and dividend payouts JF - Quarterly Review of Economics and Finance Y1 - 2021 A1 - Teng,Chia-Chen A1 - Li,Shaomin A1 - Yang,Jimmy KW - Finance VL - 79 U2 - a U4 - 202763948032 ID - 202763948032 ER - TY - JOUR T1 - Media exposure on corporate social irresponsibility and firm performance JF - Pacific-Basin Finance Journal Y1 - 2021 A1 - Teng,Chia-Chen A1 - Yang,Jimmy KW - Finance VL - 68 U2 - a U4 - 219521202176 ID - 219521202176 ER - TY - JOUR T1 - Share Pledging, Payout Policy, and the Value of Cash Holdings JF - Journal of Empirical Finance Y1 - 2021 A1 - Chou,Robin A1 - Wang,Yu-Chun A1 - Yang,Jimmy KW - Finance AB - Share 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. VL - 61 CP - March U2 - a U4 - 184512514048 ID - 184512514048 ER - TY - JOUR T1 - Technical expert CEOs and corporate innovation JF - Pacific-Basin Finance Journal Y1 - 2021 A1 - Ting,Hsiu-I A1 - Wang,Ming-Chun A1 - Yang,Jimmy A1 - Tuan,Kai-Wen KW - Finance VL - 68 U2 - a U4 - 233737959424 ID - 233737959424 ER - TY - JOUR T1 - Trader Positions in VIX Futures JF - Journal of Empirical Finance Y1 - 2021 A1 - Chen,Yu-Lun A1 - Yang,Jimmy KW - Finance AB - We 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. VL - 61 CP - March U2 - a U4 - 184512481280 ID - 184512481280 ER - TY - JOUR T1 - Trading activity and price discovery in Bitcoin futures markets JF - Journal of Empirical Finance Y1 - 2021 A1 - Hung,Jui-Cheng A1 - Liu,Hung-Chun A1 - Yang,Jimmy KW - Finance VL - 62 CP - June U2 - a U4 - 202763657216 ID - 202763657216 ER - TY - JOUR T1 - Housing Price Dynamics, Mortgage Credit and Reverse Mortgage Demand: Theory and Empirical Evidence JF - Real Estate Economics Y1 - 2020 A1 - Chen,Kuo-Shing A1 - Yang,Jimmy KW - Finance VL - 48 CP - 2 U2 - a U4 - 144773152768 ID - 144773152768 ER - TY - JOUR T1 - Improving the realized GARCH's volatility forecast for Bitcoin with jump-robust estimators JF - North American Journal of Economics and Finance Y1 - 2020 A1 - Hung,Jui-Cheng A1 - Liu,Hung-Chun A1 - Yang,Jimmy KW - Finance VL - 52 U2 - a U4 - 202763464704 ID - 202763464704 ER - TY - JOUR T1 - A rare move: the effects of switching from a closing call auction to a continuous trading JF - The Journal of Futures Markets Y1 - 2020 A1 - Chang,Ya-Kai A1 - Chou,Robin K A1 - Yang,Jimmy KW - Finance AB - This 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. VL - 40 CP - 3 U2 - a U4 - 127152922624 ID - 127152922624 ER - TY - JOUR T1 - Chinese Lunar New Year Effect, Investor Sentiment, and Market Deregulation JF - Finance Research Letters Y1 - 2018 A1 - Teng,Chia-Chen A1 - Yang,Jimmy KW - Finance AB - This 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. VL - 27 UR - https://www.sciencedirect.com/science/article/pii/S1544612317305640 U2 - a U4 - 144773136384 ID - 144773136384 ER - TY - JOUR T1 - The MAX Effect: Lottery Stocks with Price Limits and Limits to Arbitrage JF - Journal of Financial Markets Y1 - 2018 A1 - Hung,Weifeng A1 - Yang,Jimmy KW - Finance AB - We 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. VL - 41 U2 - a U4 - 162670010368 ID - 162670010368 ER - TY - HEAR T1 - The cost of corporate social irresponsibility Y1 - 2016 A1 - Yang,Jimmy A1 - Lin,KC A1 - Johnson,Shane KW - Finance JA - Finance Seminar CY - Taiwan U2 - c U4 - 144773222400 ID - 144773222400 ER - TY - HEAR T1 - The cost of corporate social irresponsibility Y1 - 2016 A1 - Yang,Jimmy A1 - Lin,KC A1 - Johnson,Shane KW - Finance JA - Finance Seminar CY - Taiwan U2 - c U4 - 144773206016 ID - 144773206016 ER - TY - HEAR T1 - The cost of corporate social irresponsibility Y1 - 2016 A1 - Yang,Jimmy A1 - Lin,KC A1 - Johnson,Shane KW - Finance JA - Entrepreneurship Society Seminar CY - Taiwan U2 - c U4 - 144794408960 ID - 144794408960 ER - TY - HEAR T1 - The cost of corporate social irresponsibility Y1 - 2016 A1 - Yang,Jimmy A1 - Lin,KC A1 - Johnson,Shane KW - Finance JA - Finance Seminar CY - Taiwan U2 - c U4 - 144794304512 ID - 144794304512 ER - TY - HEAR T1 - The cost of corporate social irresponsibility Y1 - 2015 A1 - Yang,Jimmy A1 - Lin,KC KW - Finance JA - Finance Seminar CY - Taiwan U2 - c U4 - 127152736256 ID - 127152736256 ER - TY - HEAR T1 - The cost of corporate social irresponsibility Y1 - 2015 A1 - Yang,Jimmy A1 - Lin,KC KW - Finance JA - Finance Seminar CY - Taiwan U2 - c U4 - 127152746496 ID - 127152746496 ER - TY - HEAR T1 - Empirical Financial Studies and Policy Implications Y1 - 2015 A1 - Yang,Jimmy KW - Finance JA - 3rd Global Economy and Governance International Conference CY - Taipei U2 - c U4 - 127152842752 ID - 127152842752 ER - TY - HEAR T1 - A model of price limits on individual stocks Y1 - 2015 A1 - Yang,Jimmy A1 - Luo,Yuchen KW - Finance JA - Finance Seminar CY - Taiwan U2 - c U4 - 127152723968 ID - 127152723968 ER - TY - HEAR T1 - A model of price limits on individual stocks Y1 - 2015 A1 - Yang,Jimmy A1 - Luo,Yuchen KW - Finance JA - World Finance Conference CY - Buenos Aires U2 - c U4 - 127152861184 ID - 127152861184 ER - TY - JOUR T1 - What makes when-issued trading attractive to financial markets? JF - Financial Markets, Institutions and Instruments Y1 - 2014 A1 - Brooks,Raymond A1 - Kim,Yong H A1 - Yang,Jimmy KW - Finance AB - When-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. VL - 23 CP - 5 U2 - a U4 - 68819267584 ID - 68819267584 ER - TY - JOUR T1 - When-issued trading in the Indian IPO market JF - Journal of Financial Markets Y1 - 2014 A1 - Brooks,Raymond A1 - Mathew,Prem A1 - Yang,Jimmy KW - Finance VL - 19 U2 - a U4 - 53120905216 ID - 53120905216 ER - TY - JOUR T1 - The choice between rights and underwritten equity offerings: Evidence from Chinese Stock Markets JF - Journal of Multinational Financial Management Y1 - 2013 A1 - Dang,Li A1 - Yang,Jimmy KW - Accounting KW - Finance AB - We 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. VL - 23 CP - 3 U2 - a U4 - 2658564097 ID - 2658564097 ER - TY - JOUR T1 - Is the diversification benefit of frontier markets realizable by mean-variance investors? The evidence of investable funds JF - Journal of Portfolio Management Y1 - 2013 A1 - Berger,Dave A1 - Pukthuanthong,Kuntara A1 - Yang,Jimmy KW - Finance VL - 39 U2 - a U4 - 53000775681 ID - 53000775681 ER - TY - JOUR T1 - Reconsidering Price Limit Effectiveness JF - Journal of Financial Research Y1 - 2013 A1 - Kim,Kenneth A1 - Liu,Haixiao A1 - Yang,Jimmy KW - Finance AB - Most 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. VL - 36 CP - 4 U2 - a U4 - 30702327809 ID - 30702327809 ER - TY - JOUR T1 - Emerging from bankruptcy with when-issued trading JF - Financial Review Y1 - 2012 A1 - Brooks,Raymond A1 - Yang,Jimmy KW - Finance AB - We 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. VL - 47 U2 - a U4 - 8582115329 ID - 8582115329 ER - TY - HEAR T1 - When-issued trading in the Indian IPO market Y1 - 2012 A1 - Yang,Jimmy KW - Finance JA - Finance Seminar at National Chengchi University CY - Taiwan U2 - c U4 - 69888423936 ID - 69888423936 ER - TY - HEAR T1 - The choice between rights and underwritten equity offerings: Evidence from Chinese stock markets Y1 - 2011 A1 - Yang,Jimmy KW - Finance JA - 2011 FMA Asian Conference CY - Queenstown, New Zealand U2 - c U4 - 53000245248 ID - 53000245248 ER - TY - JOUR T1 - International diversification with frontier markets JF - Journal of Financial Economics Y1 - 2011 A1 - Berger,Dave A1 - Pukthuanthong,Kuntara A1 - Yang,Jimmy KW - Finance AB - We 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. VL - 101 CP - 1 U2 - a U4 - 30702147585 ID - 30702147585 ER - TY - JOUR T1 - Private Debt, Unused Credit Lines, and Seasoned Equity Offerings JF - Quarterly Review of Economics and Finance Y1 - 2011 A1 - Liu,Yang A1 - Yang,Jimmy KW - Finance AB - We 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. VL - 51 CP - 4 U2 - a U4 - 2658560001 ID - 2658560001 ER - TY - HEAR T1 - Reconsidering Price Limit Effectiveness Y1 - 2011 A1 - Yang,Jimmy KW - Finance JA - 2011 Asian Finance Association meeting CY - Macao U2 - c U4 - 53000275968 ID - 53000275968 ER - TY - HEAR T1 - Reconsidering Price Limit Effectiveness Y1 - 2011 A1 - Yang,Jimmy KW - Finance JA - Finance seminar at University of New South Wales CY - Sydney, Australia U2 - c U4 - 53000314880 ID - 53000314880 ER - TY - HEAR T1 - International diversification with frontier markets Y1 - 2010 A1 - Berger,Dave A1 - Pukthuanthong,Kuntara A1 - Yang,Jimmy KW - Finance JA - NTU Seminar CY - Taipei U2 - c U4 - 33400158209 ID - 33400158209 ER - TY - HEAR T1 - International Diversification with Frontier Markets Y1 - 2010 A1 - Berger,Dave A1 - Yang,Jimmy A1 - Pukthuanthong,Kuntara KW - Finance JA - Financial Management Association CY - New York, New York U2 - c U4 - 33700190209 ID - 33700190209 ER - TY - JOUR T1 - Venture Capital, Ownership Structure, Accounting Standards and IPO Underpricing: Evidence from Germany JF - Journal of Economics and Business Y1 - 2010 A1 - Elston,Julie A1 - Yang,Jimmy KW - Finance KW - OSU-Cascades AB - This 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.

VL - 62 CP - Special Issue U2 - a U4 - 11894646785 ID - 11894646785 ER - TY - JOUR T1 - A censored stochastic volatility approach to the estimation of price limit moves JF - Journal of Empirical Finance Y1 - 2009 A1 - Hsieh,Ping-Hung A1 - Yang,Jimmy KW - Finance KW - Supply Chain AB - A 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.

VL - 16 CP - 2 U2 - a U4 - 2658519041 ID - 2658519041 ER - TY - JOUR T1 - Effect of price limits: initial public offerings versus seasoned equities JF - International Review of Finance Y1 - 2009 A1 - Kim,Yong H. A1 - Yang,Jimmy KW - Finance AB - In 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. VL - 9 CP - 3 U2 - a U4 - 649912320 ID - 649912320 ER - TY - JOUR T1 - The magnet effect of price limits: a logit approach JF - Journal of Empirical Finance Y1 - 2009 A1 - Hsieh,Ping-Hung A1 - Kim,Yong H A1 - Yang,Jimmy KW - Finance KW - Supply Chain AB - We 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.

VL - 16 CP - 5 U2 - a U4 - 2658545665 ID - 2658545665 ER - TY - JOUR T1 - The Effect of Price Limits on Intraday Volatility and Information Asymmetry JF - Pacific-Basin Finance Journal Y1 - 2008 A1 - Kim,Yong H. A1 - Yang,Jimmy KW - Finance AB - We 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. VL - 16 CP - 5 U2 - a U4 - 6360668161 ID - 6360668161 ER - TY - HEAR T1 - Emerging from Bankruptcy with When-Issued Trading Y1 - 2008 A1 - Brooks,Raymond A1 - Yang,Jimmy KW - Finance JA - Financial Management Association annual meeting CY - Dallas U2 - c U4 - 11894759425 ID - 11894759425 ER - TY - HEAR T1 - The Impact of Accounting Standards and Ownership Structure on IPO Underpricing: Evidence from Germany's Neuer Markt Y1 - 2008 A1 - Yang,Jimmy A1 - Elston,Julie KW - Finance KW - OSU-Cascades JA - Academy of Entrepreneurial Finance CY - Las Vegas, NV U2 - c U4 - 10095396865 ID - 10095396865 ER - TY - HEAR T1 - The impact of accounting standards and ownership structure on IPO underpricing: evidence from Germany’s Neuer Market Y1 - 2008 A1 - Yang,Jimmy A1 - Elston,Julie KW - Finance KW - OSU-Cascades JA - Academy of Entrepreneurial Finance Conference CY - Las Vegas U2 - c U4 - 14184595457 ID - 14184595457 ER - TY - JOUR T1 - Relative Performance of Trading Halts and Price Limits: Evidence from the Spanish Stock Exchange JF - International Review of Economics and Finance Y1 - 2008 A1 - Kim,Yong H. A1 - Yague,Jose A1 - Yang,Jimmy KW - Finance AB - We 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. VL - 17 CP - 2 U2 - a U4 - 649914368 ID - 649914368 ER - TY - HEAR T1 - The choice between rights and underwritten equity offerings: evidence from the Chinese Stock Markets Y1 - 2007 A1 - Dang,Li A1 - Yang,Jimmy KW - Accounting KW - Finance JA - Financial Management Association Meeting CY - Orlando U2 - c U4 - 8582137857 ID - 8582137857 ER - TY - HEAR T1 - The Magnet Effect of Price Limits: Evidence from Transactions Data Y1 - 2007 A1 - Hsieh,Ping-Hung A1 - Kim,Yong H. A1 - Yang,Jimmy KW - Finance KW - Supply Chain JA - Asian Finance Association Meeting CY - Hong Kong U2 - c U4 - 8582131713 ID - 8582131713 ER - TY - JOUR T1 - Teaching an Old Dog New Tricks: Using the Dividend Growth Model in Financial Planning JF - Journal of Economics and Finance Education Y1 - 2007 A1 - Brooks,Raymond A1 - Yang,Jimmy KW - Finance AB - The 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. VL - 6 CP - 2 U2 - a U4 - 2658555905 ID - 2658555905 ER - TY - HEAR T1 - Untitled Y1 - 2007 A1 - Yang,Jimmy KW - Finance U2 - c U4 - 27371028480 ID - 27371028480 ER - TY - HEAR T1 - Are banking relations beneficial to established firms? evidence from seasoned equity offerings Y1 - 2006 A1 - Yang,Jimmy A1 - Liu,Yang KW - Finance JA - Financial Management Association Meeting CY - Salt Lake City, Utah U2 - c U4 - 649936896 ID - 649936896 ER - TY - HEAR T1 - Cooling-off effect of price limits: evidence from transactions data Y1 - 2006 A1 - Yang,Jimmy A1 - Kim,Yong H KW - Finance JA - Globalization and Economic Asymmetries Conference CY - Boston U2 - c U4 - 2658510849 ID - 2658510849 ER - TY - HEAR T1 - The magnet effect of price limits: evidence from transactions data Y1 - 2006 A1 - Yang,Jimmy A1 - Hsieh,Ping-Hung A1 - Kim,Yong H. KW - Finance KW - Supply Chain JA - Financial Management Association meeting CY - Salt Lake City, Utah U2 - c U4 - 649934848 ID - 649934848 ER - TY - HEAR T1 - The Magnet Effect of Price Limits: Evidence from Transactions Data Y1 - 2006 A1 - Hsieh,Ping-Hung A1 - Kim,Yong H. A1 - Yang,Jimmy KW - Finance KW - Supply Chain JA - National Joint Statistical Meetings CY - Seattle, Washington U2 - c U4 - 2722437121 ID - 2722437121 ER - TY - HEAR T1 - Cooling-off and magnet effects of price limits Y1 - 2004 A1 - Yang,Jimmy KW - Finance JA - Conference on the Theories and Practices of Securities and Financial Markets CY - Kaohsiung, Taiwan U2 - c U4 - 649916416 ID - 649916416 ER - TY - HEAR T1 - The effect of price limits: initial public offerings vs. seasoned equities Y1 - 2004 A1 - Yang,Jimmy A1 - Kim,Yong H. KW - Finance JA - Financial Management Association Annual Meeting CY - New Orleans LA U2 - c U4 - 649920512 ID - 649920512 ER - TY - JOUR T1 - What makes circuit breakers attractive to financial markets? A survey JF - Financial Markets, Institutions and Instruments Y1 - 2004 A1 - Kim,Yong H. A1 - Yang,Jimmy KW - Finance AB - After 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. VL - 13 CP - 3 U2 - a U4 - 649910272 ID - 649910272 ER - TY - HEAR T1 - Price limits and overreaction Y1 - 2003 A1 - Yang,Jimmy A1 - Kim,Yong H. KW - Finance JA - Financial Management Association Annual Meeting CY - Denver CO U2 - c U4 - 649930752 ID - 649930752 ER - TY - HEAR T1 - The relative performance between price limits and trading halts: Spanish evidence Y1 - 2003 A1 - Yang,Jimmy A1 - Kim,Yong H. A1 - Yague,Jose KW - Finance JA - Financial Management Association Annual Meeting CY - Denver CO U2 - c U4 - 649922560 ID - 649922560 ER - TY - HEAR T1 - The relative performance between price limits and trading halts: Spanish evidence Y1 - 2003 A1 - Yang,Jimmy A1 - Kim ,Yong H. A1 - Yague,Jose KW - Finance JA - Seminar at the Oregon State University CY - Corvallis, OR U2 - c U4 - 649924608 ID - 649924608 ER - TY - HEAR T1 - The relative performance between price limits and trading halts: Spanish evidence Y1 - 2002 A1 - Yang,Jimmy A1 - Kim,Yong H. A1 - Yague,Jose KW - Finance JA - Finance workshop at the University of Cincinnati U2 - c U4 - 649932800 ID - 649932800 ER - TY - HEAR T1 - The impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange Y1 - 2001 A1 - Yang,Jimmy A1 - Kim,Yong H. KW - Finance JA - Financial Management Association Annual Doctoral Student Seminar CY - Toronto, Canada U2 - c U4 - 649926656 ID - 649926656 ER - TY - HEAR T1 - The impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange Y1 - 2001 A1 - Yang,Jimmy A1 - Kim,Yong H. KW - Finance JA - Finance workshop at the University of Cincinnati U2 - c U4 - 649918464 ID - 649918464 ER - TY - HEAR T1 - The impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange Y1 - 2001 A1 - Yang,Jimmy A1 - Kim,Yong H. KW - Finance JA - Midwest Finance Association Annual Meeting CY - Cleveland OH U2 - c U4 - 649928704 ID - 649928704 ER -