Gang Huís Research Publications

Refereed Journal Publications:

17. "Can Transient Institutions Correctly Interpret Small Negative Earnings Surprises in the Absence of Access to Managementís Private Information?," with Bin Ke and Yong Yu, Journal of Accounting, Auditing and Finance 33, 2018, 3-33. (Lead Article followed by a discussion)
      - Internet Appendix for Matching Abel Noser with 13F
      - An early working paper version of this paper was the first to match Abel Noser data with 13F to uncover identities of institutions.

16. "Institutional Investors and the Information Production Theory of Stock Splits," with Thomas Chemmanur and Jiekun Huang, Journal of Financial and Quantitative Analysis 50, 2015, 413-445.
     - Featured in the Harvard Law School Forum on Corporate Governance and Financial Regulation.

15. "The Year-End Trading Activities of Institutional Investors: Evidence from Daily Trades," with R. David McLean, Jeffery Pontiff, and Qinghai Wang, Review of Financial Studies 27, 2014, 1593-1614.
     - AFA 2010.
     - Summarized by CFA Digest.

14. "GAAP Difference or Accounting Fraud? Evidence from Chinese Reverse Mergers Delisted from U.S. Markets," with Yimiao Chen, Ling Lin, and Min Xiao, Journal of Forensic and Investigative Accounting 7, 2015, 122-145.
     - Cited in re China XD Plastics Company Limited Securities Litigation, in United States District Court, Southern District of New York, 2015.

13. "Underestimation of Securities Fraud Aggregate Damages Due to Inter-Fund Trades," with Steven Feinstein, Mark Marcus, and Zann Ali, Journal of Forensic Economics 24, 2013, 161-173.

12. "OLIVE: A Simple Method for Estimating Betas When Factors Are Measured with Error," with J. Ginger Meng and Jushan Bai, Journal of Financial Research 34, 2011, 27-60.

11. "The Role of Institutional Investors in Initial Public Offerings," with Thomas Chemmanur and Jiekun Huang, Review of Financial Studies 23, 2010, 4496-4540.
     - WFA 2007 NASDAQ Award.
     - Cited in SEC Chairman Mary Schapiro's response letter to Congressman Darrell Issa's inquiry about the IPO process generated by the Facebook IPO controversy as reported by the Wall Street Journal.

10. "Costly Arbitrage and Idiosyncratic Risk: Evidence from Short Sellers," with Ying Duan and R. David McLean, Journal of Financial Intermediation 19, 2010, 564-579.
     - WFA 2006; 1st Prize CQA 2007 Academic Competition.
     - CXO Advisory Group's Summary.

9. "Is Dividend Smoothing Universal? New Insights from a Comparative Study of Dividend Policies in Hong Kong and the U.S.," with Thomas Chemmanur, Jie He, and Helen Liu, Journal of Corporate Finance 16, 2010, 413-430.

8. "The Role of Institutional Investors in Seasoned Equity Offerings," with Thomas Chemmanur and Shan He, Journal of Financial Economics 94, 2009, 384-411.
     - AFA 2006; NBER 2007.

7. "Measures of Implicit Trading Costs and Buy-Sell Asymmetry," Journal of Financial Markets 12, 2009, 418-437 (Sole Author).
     - WFA 2005 NYSE PhD Student Travel Grant; EFA 2005 Best Paper Award.

6. "The Market for Shareholder Voting Rights Around Mergers and Acquisitions: Evidence from Institutional Daily Trading and Voting," with Jennifer Bethel and Qinghai Wang, Journal of Corporate Finance 15, 2009, 129-145.

5. "When is Stock Picking Likely to be Successful? Evidence from Mutual Funds," with Ying Duan and R. David McLean, Financial Analysts Journal 65 (2), 2009, 55-66.
     - CXO Advisory Group's Summary.

4. "Opinion Divergence Among Professional Investment Managers," with J. Ginger Meng and Mark Potter, Journal of Business Finance and Accounting 35, 2008, 679-703.

3. "VWAP Cost Excluding Own Trades," Journal of Trading 2, Winter 2007, 30-34.

2. "Screening Location Strategies to Reduce Exchange Rate Risk," with Timothy Lowe and Richard Wendell, European Journal of Operational Research 136, 2002, 573-590.

1. "Ranking by Eigenvector Versus Other Methods in the Analytic Hierarchy Process," with Thomas Saaty, Applied Mathematics Letters 11, 1998, 121-125.

Other Publications:

"Emerging Issues in Evaluating Market Efficiency: Part 2" (Analyst Coverage in the 21st Century), with J. Brendan Brooks, Law360, Securities and Class Action Expert Analysis sections, July 2013.

"Emerging Issues in Evaluating Market Efficiency: Part 1" (Serial Correlation), with Mark Marcus, Law360, Securities and Class Action Expert Analysis sections, July 2012.

"Legal and Economic Issues in Litigation Arising from the 2007-2008 Credit Crisis," with Jennifer Bethel and Allen Ferrell, in "Prudent Lending Restored: Securitization after the Mortgage Meltdown," Yasuyuki Fuchita, Richard Herring, and Robert Litan (editors), Brookings Institution Press, Washington DC, 2009, Chapter 5, 163-235.
     - Translated and published in Chinese (Comparative Studies 39, December 2008, 54-96, China CITIC Press) and Japanese (Nomura Institute of Capital Markets Research).
     - Featured in the
Harvard Law School Forum on Corporate Governance and Financial Regulation.

"An Analysis of Liquidity Across Markets: Execution Costs on the NYSE versus Electronic Markets," with Michael Goldstein and J. Ginger Meng, in "Liquidity, Interest Rates and Banking," Jeffrey Morrey and Alexander Guyton (editors), Nova Publishers, New York, 2009, Chapter 7, 139-167.