We document that hedge funds nurture mispricing in the Chinese financial market. We exploit the relationship between hedge fund holdings and the degree of mispricing in case that hedge fund holdings of stocks are mainly for arbitrage purpose but not for hedging, and that with and without...

Purpose: This paper studies whether individual stocks provide higher returns than government bond in the Chinese market. Design/methodology/approach: The authors compare individual stock returns and government bond returns in the Chinese market. Findings: The authors find that more than half of...

In this paper, we build undirected weighted networks to study herding behavior among analysts and to analyze the characteristics and the structure of these networks. We then construct a new indicator based on the average degree of nodes and the average weighted clustering coefficient to research...