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Sovereign wealth fund and financial crisis – a shifting paradigm

Fei, Yiwen; Xu, Xichi; Ding, Rong - In: China Finance Review International 3 (2013) February, pp. 42-60

Purpose – The purpose of this research is to empirically analyze the influence of the financial crisis on the investment behavior of sovereign wealth funds (SWFs). Design/methodology/approach – Using 615 deals from 20 SWFs, a series of research are designed and conducted to compare the SWFs'...

Persistent link: https://www.econbiz.de/10010610513

Institutional investors' involuntary trading behaviors, commonality in liquidity change and stock price fragility

Chen, Guojin; Xu, Aihuan; Zhao, Xiangqin - In: China Finance Review International 3 (2013) February, pp. 90-110

Purpose – The aim of this paper is to empirically analyze the source of commonality in liquidity change in China's stock market. Design/methodology/approach – This paper used two-step test method in Coughenour and Saad and empirically tested the relationship between institutional investors'...

Persistent link: https://www.econbiz.de/10010610515

An empirical study of the pricing of reverse floating interest rate-linked products

Tian, Yi-xiang; Yang, Qiu-ping; Yuan, Jing-tao - In: China Finance Review International 3 (2013) April, pp. 186-202

Purpose – Reverse floating interest rate-linked structured products are important innovative products for investors to achieve a relatively high yield at low interest rates, and the reasonable pricing of such products is an important factor to influence investors' needs and issuers' profits....

Persistent link: https://www.econbiz.de/10010688404

Household life-cycle asset allocation and background risk of labor income

Cai, Mingchao; Zhao, Jun; Pan, Rulu; Huang, Haozhi - In: China Finance Review International 3 (2013) April, pp. 117-130

background risk of Chinese residents. Design/methodology/approach – Using Chinese macroeconomic data, this study uses numerical … method to solve dynamic stochastic optimal problem. Findings – When risk of labor income is considered, ratio of risky asset … risky assets holdings: lower labor income growth expectations, higher labor income risk or higher labor and financial market …

Persistent link: https://www.econbiz.de/10010688407

Optimal investing stopping in stochastic environment

Xu, Shuang; Zhang, Ran - In: China Finance Review International 3 (2013) April, pp. 164-185

Purpose – The purpose of this paper is to investigate how to determine optimal investing stopping time in a stochastic environment, such as with stochastic returns, stochastic interest rate and stochastic expected growth rate. Design/methodology/approach – Transformation method was used for...

Persistent link: https://www.econbiz.de/10010688411

Asymmetric information, firm investment and stock prices

Kong, Dongmin; Xiao, Tusheng; Liu, Shasha - In: China Finance Review International 1 (2010) December, pp. 6-33

Purpose–The purpose of this paper is to explore the relations of investment and stock prices (Tobin-Q), the impact of asymmetric information on the investment sensitivity to stock price, and the impact of asymmetric information on the stock price sensitivity to investment....

Persistent link: https://www.econbiz.de/10010561535

Accounting conservatism, ultimate ownership and investment efficiency

Xu, Xiaodong; Wang, Xia; Han, Nina - In: China Finance Review International 2 (2012) February, pp. 53-77

Purpose–The purpose of this paper is to analyze and examine the role of accounting conservatism on firm investment behavior in China. Design/methodology/approach–By combining a developed theoretical framework and empirical study, this paper examines the impacts of accounting conservatism on...

Persistent link: https://www.econbiz.de/10010561537

Does attention affect individual investors' investment return?

Shi, Rongsheng; Xu, Zhi; Chen, Zhengrong; Huang, Jing - In: China Finance Review International 2 (2012) April, pp. 143-162

Purpose–The purpose of this paper is to theoretically and empirically explore the effects of attention levels on individual investors' investment return. Design/methodology/approach–By introducing the heterogeneous attention, the authors first expand the theoretical model of Barber and...

Persistent link: https://www.econbiz.de/10010561547

Flight to liquidity due to heterogeneity in investment horizon

Lei, Qin; Wang, Xuewu - In: China Finance Review International 2 (2012) August, pp. 316-350

Purpose–The purpose of this paper is to provide some rational perspectives for the flight-to-liquidity event rather than simply attributing it to the change in investor sentiment. Design/methodology/approach–The paper builds a model to highlight the inherent difference in investors'...

Persistent link: https://www.econbiz.de/10010565826