Rose Neng Lai

University of Macau

Professor in Finance

Av. Da Universidade, Taipa

Macau, Nil

Macau

  • University of Macau

SCHOLARLY PAPERS

33

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5,298

TOTAL CITATIONS
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SSRN RANKINGS

Top 43,893

in Total Papers Citations

29

Ideas:
“  FinTech Financing and financial stability; Impact of Fintech financing on property markets; Further on housing bubbles;  ”

  • University of Macau

Scholarly Papers (33)

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1.

On the Effectiveness of Housing Purchase Restriction Policy in China: A Difference in Difference Approach

Number of pages: 46 Posted: 25 Mar 2015
Jerry Cao, Bihong Huang and Rose Neng Lai
Independent, University of Macau - Department of Finance and Business Economics and University of Macau
Downloads 979 (47,517)
Citation 7

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housing purchase restriction policy, housing bubble, China, difference in difference

2.

The Role of Liquidity in Value at Risk - The Case of Hong Kong

20th Australasian Finance & Banking Conference 2007 Paper
Number of pages: 45 Posted: 24 Aug 2007
Cass Cheng Po Lei and Rose Neng Lai
affiliation not provided to SSRN and University of Macau
Downloads 541 (103,352)
Citation 1

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3.

Herding and Trading Volume

Number of pages: 40 Posted: 22 Aug 2011
Qing Qing Lan and Rose Neng Lai
University of Macau - Faculty of Business Administration and University of Macau
Downloads 425 (138,102)
Citation 2

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4.

On an Efficient Design of Reverse Mortgages: A Possible Solution for Aging Asian Populations

Number of pages: 37 Posted: 24 Nov 2017
Robert C. Merton and Rose Neng Lai
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Macau
Downloads 365 (163,879)
Citation 8

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Retirement, Reverse Mortgage, Securitization, Tranching, Core Capital

5.

A Regime Shift Model of the Recent Housing Bubble in the United States

Ross School of Business Paper No. 1084
Number of pages: 55 Posted: 13 Aug 2007
Robert Van Order and Rose Neng Lai
University of Michigan - Stephen M. Ross School of Business and University of Macau
Downloads 335 (179,956)
Citation 2

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Bubbles, House Prices, Regime Shift

6.

Shadow Banking and the Property Market in China

Lai, Rose Neng, and Robert Van Order (2019). Shadow Banking and the Property Market in China, International Real Estate Review, 22(3), 361-399.
Number of pages: 44 Posted: 02 Jun 2016 Last Revised: 09 Feb 2021
Rose Neng Lai and Robert A. Van Order
University of Macau and George Washington University
Downloads 275 (221,537)

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Chinese housing market, shadow banking, pooled mean group estimation

7.

The Performance of Non-Listed Opportunity Real Estate Funds in China

Swiss Finance Institute Research Paper No. 21-27
Number of pages: 27 Posted: 19 Mar 2021 Last Revised: 22 Mar 2021
Graeme Newell, Jufri Marzuki, Martin Hoesli and Rose Neng Lai
Western Sydney University - School of Economics and Finance, Western Sydney University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Macau
Downloads 189 (317,255)

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Non-listed real estate fund, opportunity real estate fund, China, risk-adjusted performance, real estate investment strategy

8.

Momentum and House Price Growth in the U.S.: Anatomy of a 'Bubble'

Ross School of Business Paper No. 1124
Number of pages: 45 Posted: 21 Jan 2009
Rose Neng Lai and Robert Van Order
University of Macau and University of Michigan - Stephen M. Ross School of Business
Downloads 186 (321,847)
Citation 2

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Price Bubble, House Prices, Regime Shift

9.

Intraday Herding on Cross-Listed Stocks ─ Spillover and Abnormal Return

Number of pages: 38 Posted: 08 Sep 2015
Rose Neng Lai and Yang Zhang
University of Macau and University of Macau
Downloads 164 (359,491)
Citation 1

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Intraday herding, Cross-listing, Information spillover

10.

Liquidity, Fragility and the Credit Crunch: A Theoretical Explanation and the Introduction of Contingent Convertible Bonds

25th Australasian Finance and Banking Conference 2012
Number of pages: 24 Posted: 22 Aug 2012
Robert A. Van Order and Rose Neng Lai
George Washington University and University of Macau
Downloads 163 (361,396)
Citation 1

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Fragility, Liquidity, CoCo bonds

11.

Retention Requirements and Incentives for Controlling Inefficient Risk-Taking -- Bridging Banking, Securitization and Capital Requirements

Number of pages: 15 Posted: 22 Nov 2014
Rose Neng Lai and Robert A. Van Order
University of Macau and George Washington University
Downloads 159 (369,029)
Citation 1

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Financial Institutions, Contingent Convertible Bonds, Management Incentives, Risk-Taking, Dodd-Frank Act

12.

Risk Taking, Guarantees, Securitization and the Option to Change Strategy: The Economics of Pulling a Fast One

Ross School of Business Paper No. 1123
Number of pages: 30 Posted: 21 Jan 2009
Rose Neng Lai and Robert Van Order
University of Macau and University of Michigan - Stephen M. Ross School of Business
Downloads 151 (385,225)

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Securitization, Financial Institutions, Risk-taking

13.

A Tale of Two Countries: Comparing the US and Chinese Housing Markets

Lai, Rose Neng and Robert A. Van Order. (2020). A Tale of Two Countries: Comparing the US and Chinese Bubbles Housing Markets, Journal of Real Estate Finance and Economics, 61(3), 505-547.
Number of pages: 47 Posted: 04 Aug 2018 Last Revised: 09 Feb 2021
Rose Neng Lai and Robert A. Van Order
University of Macau and George Washington University
Downloads 146 (395,900)
Citation 1

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Chinese Housing Market, US Housing Market, Bubbles, Momentum, (Pooled) Mean Group Estimation

14.

Housing Bubble and Government Regulation: Evidence from China

Narodowy Bank Polski Workshop: Recent Trends in the Real Estate Market and Its Analysis (2015 Edition) , NBP Working Paper No. 243, Volume 2
Number of pages: 63 Posted: 23 Sep 2016
Jerry Cao, Bihong Huang and Rose Neng Lai
Independent, University of Macau - Department of Finance and Business Economics and University of Macau
Downloads 139 (411,613)

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Home Purchase Restriction Policy, Housing Bubble, China, Difference In

15.

Interbank Borrowing and Bank Liquidity Risk

Journal of Financial Research, Forthcoming
Number of pages: 63 Posted: 18 Nov 2021 Last Revised: 08 Apr 2022
Zongyuan Li and Rose Neng Lai
University of Galway - J.E. Cairnes School of Business & Economics and University of Macau
Downloads 129 (438,971)
Citation 1

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Interbank Market, Liquidity Risk, Liquidity Creation, Market Discipline

16.

The Envelope Theorem and Identification: Implications for Some Empirical Work in Economics and Finance

Number of pages: 13 Posted: 22 Nov 2014 Last Revised: 10 Feb 2015
Rose Neng Lai and Robert A. Van Order
University of Macau and George Washington University
Downloads 128 (438,971)

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Envelope Theorem; endogeneity; identification problem

17.

The Value of Implicit Political Connections on Land Sales in China

Number of pages: 60 Posted: 13 Feb 2023
Rose Neng Lai, Zongyuan Li and Yildiray Yildirim
University of Macau, University of Galway - J.E. Cairnes School of Business & Economics and Zicklin School of Business, Baruch College - The City University of New York
Downloads 117 (470,039)

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Political Connection, Headquarter-Subsidiary Relationships, Land Prices, Corruption

18.

Are ‘Too Big To Fail’ Banks Just Different in Size? – A Study on Risk-Taking and Tail Risk

Number of pages: 54 Posted: 01 Dec 2021
Zongyuan Li and Rose Neng Lai
University of Galway - J.E. Cairnes School of Business & Economics and University of Macau
Downloads 117 (470,039)

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Risk-Taking, Tail Risk, Systemic Risk, Banking Regulation, Too-Big-to-Fail (TBTF) Banks

19.

International Firm Performance and Proximity to Rare Disaster Risk

Swiss Finance Institute Research Paper No. 23-16
Number of pages: 56 Posted: 28 Feb 2023
Chongyu Wang, Rose Neng Lai and Martin Hoesli
Florida State University - Department of Risk Management/Insurance, Real Estate and Business Law, University of Macau and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 107 (502,099)

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Disaster Risk, International Firm Performance, Equity Risk Premia, Russia’s Invasion of Ukraine, Sanction, Real Estate, Green Building

20.

U.S. House Prices Over the Last 30 Years: Bubbles, Regime Shifts and Market (In)Efficiency

Number of pages: 48 Posted: 22 Nov 2014 Last Revised: 25 Mar 2015
Rose Neng Lai and Robert A. Van Order
University of Macau and George Washington University
Downloads 106 (505,533)
Citation 1

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Housing Bubbles; Pooled Mean Group Estimation; Supply Elasticities

21.

A Model of Securitization When Bank Optimism and Liquidity Matter

Number of pages: 53 Posted: 26 Nov 2016
Nicole Xu and Rose Neng Lai
The People's Bank of China (PBC) and University of Macau
Downloads 92 (555,937)

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Securitization, Information Asymmetry, Liquidity, Optimism, Financial Crisis, Tranching

22.

Spillover and Profitability of Intraday Herding on Cross-listed Stocks

Lai, Rose Neng and Yang Zhang (2019). Spillover and Profitability of Intraday Herding on Cross-listed Stocks The Chinese Economy, Chinese Economy, forthcoming.
Number of pages: 53 Posted: 16 Aug 2019
Rose Neng Lai and Yang Zhang
University of Macau and University of Macau
Downloads 73 (636,067)
Citation 1

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Herding; Cross-listing; A-shares; H-shares; Chinese stock markets; Hong Kong stock market

23.

Not All Bank Liquidity Creation Boosts Prices --- The Case of the US Housing Markets

International Real Estate Review, 24(1), 19-58
Number of pages: 45 Posted: 17 Mar 2021 Last Revised: 06 Apr 2022
Zongyuan Li and Rose Neng Lai
University of Galway - J.E. Cairnes School of Business & Economics and University of Macau
Downloads 63 (685,654)

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Bank Liquidity Creation, Housing Market, House Price Fundamental, Credit Supply, Funding Resources

24.

Optimism-Driven Decisions of Real Estate Developers Under Demand Uncertainty

Xu, Ruihui and Rose Neng Lai. (2018). Optimism-driven Decisions of Real Estate Developers Under Demand Uncertainty, Journal of Real Estate Research, 40(2), 267-308.
Number of pages: 53 Posted: 14 Aug 2018 Last Revised: 09 Feb 2021
Nicole Xu and Rose Neng Lai
The People's Bank of China (PBC) and University of Macau
Downloads 61 (696,329)

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Optimism, Demand Uncertainty, Heterogeneous Beliefs, Real Estate Developers

25.

Construction and Sale Decisions of Real Estate Developers Under Heterogeneous Beliefs

Number of pages: 54 Posted: 26 Nov 2016
Nicole Xu and Rose Neng Lai
The People's Bank of China (PBC) and University of Macau
Downloads 46 (788,051)

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Uncertainty, Heterogeneous Beliefs, Real Estate Developer, Optimism

26.

Research for the 'Exciting, Dynamic and Unique' Asian Markets: A Commentary on 'Future Research Opportunities for Asian Real Estate'

Lai, Rose Neng (2019). Research for the “Exciting, Dynamic and Unique” Asian Markets: A Commentary on “Future Research Opportunities for Asian Real Estate”, International Journal of Urban Sciences, 25:2, 291-295, DOI: 10.1080/12265934.2019.1625804.
Number of pages: 9 Posted: 16 Aug 2019 Last Revised: 12 Oct 2021
Rose Neng Lai
University of Macau
Downloads 41 (824,031)

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Asian real estate markets; big data; disruptive technologies; emerging markets

27.

Under the Radar: The Role of Subsidiaries in Concealing Political Connections in Chinese Land Transactions

Number of pages: 68 Posted: 22 Oct 2024
Rose Neng Lai, Zongyuan Li and Yildiray Yildirim
University of Macau, University of Galway - J.E. Cairnes School of Business & Economics and Zicklin School of Business, Baruch College - The City University of New York
Downloads 1 (1,235,220)

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Political connection, Headquarter, Subsidiary, Land prices, Corruption

28.

Herding and Positive Feedback Trading on Property Stocks

Journal of Property Investment & Finance, Vol. 26 Issue: 2, pp.110-131
Posted: 30 Mar 2018
Tingyu Zhou and Rose Neng Lai
Florida State University and University of Macau

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29.

Herding and Information Based Trading

Journal of Empirical Finance, Vol. 16, No. 3, 2009
Posted: 26 Mar 2018
Tingyu Zhou and Rose Neng Lai
Florida State University and University of Macau

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30.

Fintech Finance and Financial Fragility ― Focusing on China

Posted: 27 Nov 2017
Rose Neng Lai and Robert A. Van Order
University of Macau and George Washington University

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Fintech, Shadow Banking, Contagion, Financial Fragility, Interconnectedness

31.

Risk-Taking, Securitization and the Option to Change Strategy

Real Estate Economics, Forthcoming
Posted: 27 Nov 2012
Robert Van Order and Rose Neng Lai
University of Michigan - Stephen M. Ross School of Business and University of Macau

Abstract:

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Securitization, financial institutions, risk-taking

32.

Pricing Relocation-Redevelopment Projects for City Expansion - The Case in China

Real Estate Economics, Forthcoming
Posted: 16 May 2012
JiaJin Chen and Rose Neng Lai
affiliation not provided to SSRN and University of Macau

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sequential options, relocation, demolition, redevelopment, government policy

33.

Stickiness of Rental Rates and Developers' Option Exercise Strategies

Journal of Real Estate Finance and Economics, Vol. 34, No. 1, 2007
Posted: 18 Aug 2006
Rose Neng Lai, Ko Wang and Jing Yang
University of Macau, City University of New York (CUNY) - Baruch College - Zicklin School of Business and California State University, Fullerton - Department of Finance

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sticky rents, overbuilding, real options