@article {1959536, title = {Intraday Momentum in the VIX Futures Market}, journal = {Journal of Banking \& Finance}, volume = {148}, year = {2023}, month = {2023}, pages = {106746}, keywords = {Finance}, author = {Huang,Hong-Gia and Tsai,Wei-Che and Weng,Pei-Shih and Yang,Jimmy} } @article {1959541, title = {Aggregate 52-week high, limited attention, and time-varying momentum profits}, journal = {Journal of Banking \& Finance}, volume = {141}, year = {2022}, month = {2022}, pages = {106531}, keywords = {Finance}, author = {Hung,Weifeng and Lin,Ching-Ting and Yang,Jimmy} } @article {1967741, title = {Aggregate 52-week high, limited attention, and time-varying momentum profits}, year = {2022}, month = {2022}, address = {Victoria, Canada}, keywords = {Finance}, author = {Hung,Weifeng and Lin,Ching-Ting and Yang,Jimmy} } @article {1954671, title = {Corporate Reputation and Hedging Activities}, journal = {Accounting and Finance}, year = {2022}, month = {2022}, keywords = {Accounting, Finance}, author = {Deng,Junfang and Yang,Jimmy} } @article {1959551, title = {Crash-Based Quantitative Trading Strategies: Perspective of Behavioral Finance}, journal = {Finance Research Letters}, volume = {45}, year = {2022}, month = {2022}, pages = {102185}, keywords = {Finance}, author = {Fang,Yan and Yuan,Jie and Yang,Jimmy and Ying,Shangjun} } @article {1959546, title = {Does the tail risk index matter in forecasting downside risk?}, journal = {International Journal of Finance and Economics}, year = {2022}, month = {2022}, pages = {1-16}, keywords = {Finance}, author = {Hung,Jui-Cheng and Liu,Hung-Chun and Yang,Jimmy} } @article {1959581, title = {Family control, external governance mechanisms, and dividend payouts}, journal = {Quarterly Review of Economics and Finance}, volume = {79}, year = {2021}, month = {2021}, pages = {198-209}, keywords = {Finance}, author = {Teng,Chia-Chen and Li,Shaomin and Yang,Jimmy} } @article {1959556, title = {Media exposure on corporate social irresponsibility and firm performance}, journal = {Pacific-Basin Finance Journal}, volume = {68}, year = {2021}, month = {2021}, keywords = {Finance}, author = {Teng,Chia-Chen and Yang,Jimmy} } @article {1959571, title = {Share Pledging, Payout Policy, and the Value of Cash Holdings}, journal = {Journal of Empirical Finance}, volume = {61}, year = {2021}, month = {2021}, pages = {18-33}, abstract = {Share pledging for insiders{\textquoteright} 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{\textquoteright} personal financing incentives arising from share pledging would affect the value of cash holdings from the perspective of agency problems and payout policy.}, keywords = {Finance}, author = {Chou,Robin and Wang,Yu-Chun and Yang,Jimmy} } @article {1959561, title = {Technical expert CEOs and corporate innovation}, journal = {Pacific-Basin Finance Journal}, volume = {68}, year = {2021}, month = {2021}, keywords = {Finance}, author = {Ting,Hsiu-I and Wang,Ming-Chun and Yang,Jimmy and Tuan,Kai-Wen} } @article {1959576, title = {Trader Positions in VIX Futures}, journal = {Journal of Empirical Finance}, volume = {61}, year = {2021}, month = {2021}, pages = {1-17}, abstract = {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.}, keywords = {Finance}, author = {Chen,Yu-Lun and Yang,Jimmy} } @article {1959566, title = {Trading activity and price discovery in Bitcoin futures markets}, journal = {Journal of Empirical Finance}, volume = {62}, year = {2021}, month = {2021}, pages = {107-120}, keywords = {Finance}, author = {Hung,Jui-Cheng and Liu,Hung-Chun and Yang,Jimmy} } @article {1959596, title = {Housing Price Dynamics, Mortgage Credit and Reverse Mortgage Demand: Theory and Empirical Evidence}, journal = {Real Estate Economics}, volume = {48}, year = {2020}, month = {2020}, pages = {599-632}, keywords = {Finance}, author = {Chen,Kuo-Shing and Yang,Jimmy} } @article {1959586, title = {Improving the realized GARCH{\textquoteright}s volatility forecast for Bitcoin with jump-robust estimators}, journal = {North American Journal of Economics and Finance}, volume = {52}, year = {2020}, month = {2020}, pages = {101-165}, keywords = {Finance}, author = {Hung,Jui-Cheng and Liu,Hung-Chun and Yang,Jimmy} } @article {1959591, title = {A rare move: the effects of switching from a closing call auction to a continuous trading}, journal = {The Journal of Futures Markets}, volume = {40}, year = {2020}, month = {2020}, pages = {308-328}, abstract = {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{\textendash}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.}, keywords = {Finance}, author = {Chang,Ya-Kai and Chou,Robin K and Yang,Jimmy} } @article {1959606, title = {Chinese Lunar New Year Effect, Investor Sentiment, and Market Deregulation}, journal = {Finance Research Letters}, volume = {27}, year = {2018}, month = {2018}, pages = {175-184}, abstract = {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{\textquoteright} participation increases, suggesting that the market deregulation may have contributed to this diminishing calendar anomaly.}, keywords = {Finance}, url = {https://www.sciencedirect.com/science/article/pii/S1544612317305640}, author = {Teng,Chia-Chen and Yang,Jimmy} } @article {1959601, title = {The MAX Effect: Lottery Stocks with Price Limits and Limits to Arbitrage}, journal = {Journal of Financial Markets}, volume = {41}, year = {2018}, month = {2018}, pages = {77-91}, abstract = {We modify the Bali et al.{\textquoteright}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.}, keywords = {Finance}, author = {Hung,Weifeng and Yang,Jimmy} } @article {1967761, title = {The cost of corporate social irresponsibility}, year = {2016}, month = {2016}, address = {Taiwan}, keywords = {Finance}, author = {Yang,Jimmy and Lin,KC and Johnson,Shane} } @article {1967746, title = {The cost of corporate social irresponsibility}, year = {2016}, month = {2016}, address = {Taiwan}, keywords = {Finance}, author = {Yang,Jimmy and Lin,KC and Johnson,Shane} } @article {1967751, title = {The cost of corporate social irresponsibility}, year = {2016}, month = {2016}, address = {Taiwan}, keywords = {Finance}, author = {Yang,Jimmy and Lin,KC and Johnson,Shane} } @article {1967756, title = {The cost of corporate social irresponsibility}, year = {2016}, month = {2016}, address = {Taiwan}, keywords = {Finance}, author = {Yang,Jimmy and Lin,KC and Johnson,Shane} } @article {1967776, title = {The cost of corporate social irresponsibility}, year = {2015}, month = {2015}, address = {Taiwan}, keywords = {Finance}, author = {Yang,Jimmy and Lin,KC} } @article {1967771, title = {The cost of corporate social irresponsibility}, year = {2015}, month = {2015}, address = {Taiwan}, keywords = {Finance}, author = {Yang,Jimmy and Lin,KC} } @article {1967781, title = {Empirical Financial Studies and Policy Implications}, year = {2015}, month = {2015}, address = {Taipei}, keywords = {Finance}, author = {Yang,Jimmy} } @article {1967766, title = {A model of price limits on individual stocks}, year = {2015}, month = {2015}, address = {Taiwan}, keywords = {Finance}, author = {Yang,Jimmy and Luo,Yuchen} } @article {1967786, title = {A model of price limits on individual stocks}, year = {2015}, month = {2015}, address = {Buenos Aires}, keywords = {Finance}, author = {Yang,Jimmy and Luo,Yuchen} } @article {1953301, title = {What makes when-issued trading attractive to financial markets?}, journal = {Financial Markets, Institutions and Instruments}, volume = {23}, year = {2014}, month = {2014}, pages = {245-271}, abstract = {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.}, keywords = {Finance}, author = {Brooks,Raymond and Kim,Yong H and Yang,Jimmy} } @article {1953311, title = {When-issued trading in the Indian IPO market}, journal = {Journal of Financial Markets}, volume = {19}, year = {2014}, month = {2014}, pages = {170-196}, keywords = {Finance}, author = {Brooks,Raymond and Mathew,Prem and Yang,Jimmy} } @article {1954666, title = {The choice between rights and underwritten equity offerings: Evidence from Chinese Stock Markets}, journal = {Journal of Multinational Financial Management}, volume = {23}, year = {2013}, month = {2013}, pages = {235-253}, abstract = {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.}, keywords = {Accounting, Finance}, author = {Dang,Li and Yang,Jimmy} } @article {1953221, title = {Is the diversification benefit of frontier markets realizable by mean-variance investors? The evidence of investable funds}, journal = {Journal of Portfolio Management}, volume = {39}, year = {2013}, month = {2013}, pages = {36-48}, keywords = {Finance}, author = {Berger,Dave and Pukthuanthong,Kuntara and Yang,Jimmy} } @article {1959611, title = {Reconsidering Price Limit Effectiveness}, journal = {Journal of Financial Research}, volume = {36}, year = {2013}, month = {2013}, pages = {493-518}, abstract = {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{\textquoteright}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.}, keywords = {Finance}, author = {Kim,Kenneth and Liu,Haixiao and Yang,Jimmy} } @article {1953316, title = {Emerging from bankruptcy with when-issued trading}, journal = {Financial Review}, volume = {47}, year = {2012}, month = {2012}, pages = {445-467}, abstract = {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.}, keywords = {Finance}, author = {Brooks,Raymond and Yang,Jimmy} } @article {1967791, title = {When-issued trading in the Indian IPO market}, year = {2012}, month = {2012}, address = {Taiwan}, keywords = {Finance}, author = {Yang,Jimmy} } @article {1967806, title = {The choice between rights and underwritten equity offerings: Evidence from Chinese stock markets}, year = {2011}, month = {2011}, address = {Queenstown, New Zealand}, keywords = {Finance}, author = {Yang,Jimmy} } @article {1953251, title = {International diversification with frontier markets}, journal = {Journal of Financial Economics}, volume = {101}, year = {2011}, month = {2011}, pages = {227-242}, abstract = {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.}, keywords = {Finance}, author = {Berger,Dave and Pukthuanthong,Kuntara and Yang,Jimmy} } @article {1959616, title = {Private Debt, Unused Credit Lines, and Seasoned Equity Offerings}, journal = {Quarterly Review of Economics and Finance}, volume = {51}, year = {2011}, month = {2011}, pages = {376-388}, abstract = {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.}, keywords = {Finance}, author = {Liu,Yang and Yang,Jimmy} } @article {1967796, title = {Reconsidering Price Limit Effectiveness}, year = {2011}, month = {2011}, address = {Macao}, keywords = {Finance}, author = {Yang,Jimmy} } @article {1967801, title = {Reconsidering Price Limit Effectiveness}, year = {2011}, month = {2011}, address = {Sydney, Australia}, keywords = {Finance}, author = {Yang,Jimmy} } @article {1960466, title = {International diversification with frontier markets}, year = {2010}, month = {2010}, address = {Taipei}, keywords = {Finance}, author = {Berger,Dave and Pukthuanthong,Kuntara and Yang,Jimmy} } @article {1960471, title = {International Diversification with Frontier Markets}, year = {2010}, month = {2010}, address = {New York, New York}, keywords = {Finance}, author = {Berger,Dave and Yang,Jimmy and Pukthuanthong,Kuntara} } @article {1954856, title = {Venture Capital, Ownership Structure, Accounting Standards and IPO Underpricing: Evidence from Germany}, journal = {Journal of Economics and Business}, volume = {62}, year = {2010}, month = {2010}, pages = {517-536}, abstract = {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{\textquoteright}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{\textquoteright}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.

}, keywords = {Finance, OSU-Cascades}, author = {Elston,Julie and Yang,Jimmy} } @article {1956046, title = {A censored stochastic volatility approach to the estimation of price limit moves}, journal = {Journal of Empirical Finance}, volume = {16}, year = {2009}, month = {2009}, pages = {337-351}, abstract = {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.

}, keywords = {Finance, Supply Chain}, author = {Hsieh,Ping-Hung and Yang,Jimmy} } @article {1959621, title = {Effect of price limits: initial public offerings versus seasoned equities}, journal = {International Review of Finance}, volume = {9}, year = {2009}, month = {2009}, pages = {295-318}, abstract = {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.}, keywords = {Finance}, author = {Kim,Yong H. and Yang,Jimmy} } @article {1956036, title = {The magnet effect of price limits: a logit approach}, journal = {Journal of Empirical Finance}, volume = {16}, year = {2009}, month = {2009}, pages = {830-837}, abstract = {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.

}, keywords = {Finance, Supply Chain}, author = {Hsieh,Ping-Hung and Kim,Yong H and Yang,Jimmy} } @article {1959626, title = {The Effect of Price Limits on Intraday Volatility and Information Asymmetry}, journal = {Pacific-Basin Finance Journal}, volume = {16}, year = {2008}, month = {2008}, pages = {522-538}, abstract = {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 {\textendash} closing, single, and consecutive {\textendash} 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.}, keywords = {Finance}, author = {Kim,Yong H. and Yang,Jimmy} } @article {1960536, title = {Emerging from Bankruptcy with When-Issued Trading}, year = {2008}, month = {2008}, address = {Dallas}, keywords = {Finance}, author = {Brooks,Raymond and Yang,Jimmy} } @article {1961931, title = {The Impact of Accounting Standards and Ownership Structure on IPO Underpricing: Evidence from Germany{\textquoteright}s Neuer Markt}, year = {2008}, month = {2008}, address = {Las Vegas, NV}, keywords = {Finance, OSU-Cascades}, author = {Yang,Jimmy and Elston,Julie} } @article {1961936, title = {The impact of accounting standards and ownership structure on IPO underpricing: evidence from Germany{\textquoteright}s Neuer Market}, year = {2008}, month = {2008}, address = {Las Vegas}, keywords = {Finance, OSU-Cascades}, author = {Yang,Jimmy and Elston,Julie} } @article {1959631, title = {Relative Performance of Trading Halts and Price Limits: Evidence from the Spanish Stock Exchange}, journal = {International Review of Economics and Finance}, volume = {17}, year = {2008}, month = {2008}, pages = {197-215}, abstract = {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{\textendash}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.}, keywords = {Finance}, author = {Kim,Yong H. and Yague,Jose and Yang,Jimmy} } @article {1961466, title = {The choice between rights and underwritten equity offerings: evidence from the Chinese Stock Markets}, year = {2007}, month = {2007}, address = {Orlando}, keywords = {Accounting, Finance}, author = {Dang,Li and Yang,Jimmy} } @article {1963196, title = {The Magnet Effect of Price Limits: Evidence from Transactions Data}, year = {2007}, month = {2007}, address = {Hong Kong}, keywords = {Finance, Supply Chain}, author = {Hsieh,Ping-Hung and Kim,Yong H. and Yang,Jimmy} } @article {1953321, title = {Teaching an Old Dog New Tricks: Using the Dividend Growth Model in Financial Planning}, journal = {Journal of Economics and Finance Education}, volume = {6}, year = {2007}, month = {2007}, pages = {65-73}, abstract = {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{\textquoteright}t teach an old dog new tricks.}, keywords = {Finance}, author = {Brooks,Raymond and Yang,Jimmy} } @article {1967811, title = {Untitled}, year = {2007}, month = {2007}, keywords = {Finance}, author = {Yang,Jimmy} } @article {1967816, title = {Are banking relations beneficial to established firms? evidence from seasoned equity offerings}, year = {2006}, month = {2006}, address = {Salt Lake City, Utah}, keywords = {Finance}, author = {Yang,Jimmy and Liu,Yang} } @article {1967821, title = {Cooling-off effect of price limits: evidence from transactions data}, year = {2006}, month = {2006}, address = {Boston}, keywords = {Finance}, author = {Yang,Jimmy and Kim,Yong H} } @article {1963201, title = {The magnet effect of price limits: evidence from transactions data}, year = {2006}, month = {2006}, address = {Salt Lake City, Utah}, keywords = {Finance, Supply Chain}, author = {Yang,Jimmy and Hsieh,Ping-Hung and Kim,Yong H.} } @article {1963206, title = {The Magnet Effect of Price Limits: Evidence from Transactions Data}, year = {2006}, month = {2006}, address = {Seattle, Washington}, keywords = {Finance, Supply Chain}, author = {Hsieh,Ping-Hung and Kim,Yong H. and Yang,Jimmy} } @article {1967826, title = {Cooling-off and magnet effects of price limits}, year = {2004}, month = {2004}, address = {Kaohsiung, Taiwan}, keywords = {Finance}, author = {Yang,Jimmy} } @article {1967831, title = {The effect of price limits: initial public offerings vs. seasoned equities}, year = {2004}, month = {2004}, address = {New Orleans LA}, keywords = {Finance}, author = {Yang,Jimmy and Kim,Yong H.} } @article {1959636, title = {What makes circuit breakers attractive to financial markets? A survey}, journal = {Financial Markets, Institutions and Instruments}, volume = {13}, year = {2004}, month = {2004}, pages = {109-146}, abstract = {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.}, keywords = {Finance}, author = {Kim,Yong H. and Yang,Jimmy} } @article {1967836, title = {Price limits and overreaction}, year = {2003}, month = {2003}, address = {Denver CO}, keywords = {Finance}, author = {Yang,Jimmy and Kim,Yong H.} } @article {1967841, title = {The relative performance between price limits and trading halts: Spanish evidence}, year = {2003}, month = {2003}, address = {Denver CO}, keywords = {Finance}, author = {Yang,Jimmy and Kim,Yong H. and Yague,Jose} } @article {1967846, title = {The relative performance between price limits and trading halts: Spanish evidence}, year = {2003}, month = {2003}, address = {Corvallis, OR}, keywords = {Finance}, author = {Yang,Jimmy and Kim ,Yong H. and Yague,Jose} } @article {1967851, title = {The relative performance between price limits and trading halts: Spanish evidence}, year = {2002}, month = {2002}, keywords = {Finance}, author = {Yang,Jimmy and Kim,Yong H. and Yague,Jose} } @article {1967856, title = {The impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange}, year = {2001}, month = {2001}, address = {Toronto, Canada}, keywords = {Finance}, author = {Yang,Jimmy and Kim,Yong H.} } @article {1967861, title = {The impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange}, year = {2001}, month = {2001}, keywords = {Finance}, author = {Yang,Jimmy and Kim,Yong H.} } @article {1967866, title = {The impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange}, year = {2001}, month = {2001}, address = {Cleveland OH}, keywords = {Finance}, author = {Yang,Jimmy and Kim,Yong H.} }