2019-Peking University HSBC Business School(PHBS)

Effect of Bifurcation on the Interaction Between Bitcoin and Litecoin

This paper studied the effect of the bifurcation of Bitcoin on its interactions with its substitute, Litecoin

Zhiyong Tu*, Changyong Xue

ARTICLE | Finance Research Letters |Vol.31, 2019

Keywords: Cryptocurrency, Bitcoin bifurcation, Litecoin, Spillover

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Arbitrage Involvement and Security Prices

We argue that hedge funds more aggressively buy underpriced stocks when they can short and, as such, protect their stock purchases from industry fluctuations

Byoung Hwang, Boxiao Liu, Wei Xu

ARTICLE | Management Science |Vol.65, 2019

Keywords: Hedge funds, Short-Selling, Market efficiency

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Vertical FDI and exchange rates over the business cycle: The welfare implications of openness to FDI

It has long been observed that a country tends to receive increased net foreign direct investment (FDI) inflow when its currency depreciates

Jiao Shi

ARTICLE | Journal of Development Economics |Vol. 138, 2019

Keywords: Foreign direct investment, Exchange rates, Gains from openness

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The Long-Run Effects of Government Spending on Structural Change: Evidence from Second World War Defense Contracts

This paper studies the long-run effects of the largest government spending program in U S history Second World War defense spending – on structural change in local economies

Zhimin Li*,Dmitri Koustas

ARTICLE | Economics Letters |Vol. 178， 2019

Keywords: Second World War,Structural change,Place-based policy

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Home Country Institutions Behind Cross-Border Acquisition Performance

How do home country institutions influence cross-border postacquisition performance?

Zhu, Hong, Ma, Xufei, Sauerwald, Steve & Peng, Mike

ARTICLE | Journal of Management |Vol. 45, 2019

Keywords: Home country institutions, Informal institutions, Formal institutions,Institutionbased view, Cross-border acquisitions, Multilevel analysis

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Psychological Contract and Employee Attitudes: The Impact of Firm Ownership and Employment Type

PurposeThis paper aims to investigate the Chinese employment relationship under the framework of psychological contr

Yuchao Zhang, Ting Ren, Xuanye Li

ARTICLE | Chinese Management Studies |Vol. 13, 2019

Keywords: Psychological contract, Employee attitudes, Employment type, Firm ownership

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From Business Tax to Value-Added Tax: The Effects of Reform on Chinese Transport Industry Firms

We study the effects of switching from business tax (BT) to value‐added tax (VAT) on the performance of firms in the Chinese transport industry, in an effort to determine whether the change in policy improves firm performance

Haifeng Huang, Tao Wang, Zhichao Zhan

ARTICLE | Australian Accounting Review |Vol. 29, 2019

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What a Difference a (Birth) Month Makes: The Relative Age Effect and Fund Manager Performance

Many US states have a single cutoffdate for school entry, meaning that some children are older than others when they begin kindergarten

Jianqiu Bai, Linlin Ma*, Kevin Mullally, and David Solomon

ARTICLE | Journal of Financial Economics |Vol. 132, 2019

Keywords: Relative age effect, Mutual funds, Fund performance, Confidence

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Factors affecting platform default risk in online peer-to-peer (P2P) lending business: an empirical study using Chinese online P2P platform data

Most previous literatures focus on the micro level default risk of individual borrowers whereas the platform default risk has not been rigorously studied yet

Yeujun Yoon, Yu Li, Yan Feng*

ARTICLE | Electronic Commerce Research |Vol. 19, 2019

Keywords: Online P2P (peer-to-peer) lending, Online P2P platform default risk, Electronic commerce

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Social interactions in asset allocation decisions: Evidence from 401(k) pension plan investors

This paper investigates social interaction effects on individual asset allocation decisions

Timothy (Jun)Lu, Ning Tang*

ARTICLE | Journal of Economic Behavior and Organizations |Vol. 159, 2019

Keywords: Social interactions, Asset allocation, Household finance, Retirement wealth, 401(k) plans

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