@article {1983851,
	title = {Empirical Financial Studies and Policy Implications},
	year = {2015},
	month = {2015},
	address = {Taipei},
	keywords = {Finance},
	author = {Yang,Jimmy}
}
@article {1969201,
	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 {1975646,
	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 {1975651,
	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 {1976571,
	title = {Emerging from Bankruptcy with When-Issued Trading},
	year = {2008},
	month = {2008},
	address = {Dallas},
	keywords = {Finance},
	author = {Brooks,Raymond and Yang,Jimmy}
}
@article {1983901,
	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.}
}
