Wuyang Zhao

University of Texas at Austin - Department of Accounting

Assistant Professor

Austin, TX 78712

United States

SCHOLARLY PAPERS

13

DOWNLOADS
Rank 10,242

SSRN RANKINGS

Top 10,242

in Total Papers Downloads

6,693

SSRN CITATIONS
Rank 22,650

SSRN RANKINGS

Top 22,650

in Total Papers Citations

30

CROSSREF CITATIONS

13

Scholarly Papers (13)

1.

Activist Short-Selling and Corporate Opacity

Number of pages: 52 Posted: 19 Oct 2016 Last Revised: 26 May 2020
Wuyang Zhao
University of Texas at Austin - Department of Accounting
Downloads 2,385 (8,490)
Citation 2

Abstract:

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Activist Short-Selling, Corporate Opacity, Information, Manipulation, Short-Interest, Price Reversals

2.

Post-Apocalyptic: The Real Consequences of Activist Short-Selling

Marshall School of Business Working Paper No. 17-25
Number of pages: 49 Posted: 26 Mar 2017
Yu Ting Forester Wong and Wuyang Zhao
University of Southern California - Leventhal School of Accounting and University of Texas at Austin - Department of Accounting
Downloads 689 (53,611)
Citation 2

Abstract:

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Activism, Short-Selling, Real Effects, Diff-in-Diff, Channel, Investment Efficiency

3.

Stock-based Compensation, Financial Analysts, and Equity Overvaluation

Review of Accounting Studies, Forthcoming
Number of pages: 55 Posted: 21 Aug 2019 Last Revised: 16 Apr 2020
Rotman School of Management, University of Toronto, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Texas at Austin - Department of Accounting
Downloads 659 (56,756)
Citation 4

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stock-based compensation, financial analysts, overvaluation, non-GAAP, free cash flow, discounted cash flow (DCF)

Blockholder Exit Threats in the Presence of Private Benefits of Control

Review of Accounting Studies, Forthcoming, Rotman School of Management Working Paper No. 2572724, HEC Paris Research Paper No. ACC-2016-1180
Number of pages: 50 Posted: 04 Mar 2015 Last Revised: 05 Dec 2016
Ole-Kristian Hope, Han Wu and Wuyang Zhao
University of Toronto - Rotman School of Management, HEC Paris and University of Texas at Austin - Department of Accounting
Downloads 496 (80,385)
Citation 1

Abstract:

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Exit-Threat Theory, Private Benefits of Control, Liquidity, China, Split-Share Structure Reform, Operating Performance, Quasi-Experiment

Blockholder Exit Threats in the Presence of Private Benefits of Control

Review of Accounting Studies, Forthcoming, Rotman School of Management Working Paper No. 2884812, HEC Paris Research Paper No. ACC-2016-1180
Number of pages: 50 Posted: 14 Dec 2016 Last Revised: 14 Apr 2017
Ole-Kristian Hope, Han Wu and Wuyang Zhao
University of Toronto - Rotman School of Management, HEC Paris and University of Texas at Austin - Department of Accounting
Downloads 158 (260,056)
Citation 3

Abstract:

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Exit-Threat Theory, Private Benefits of Control, Liquidity, China, Split-Share Structure Reform, Operating Performance, Quasi-Experiment

5.

Third-Party Consequences of Short-Selling Threats: The Case of Auditor Behavior

Forthcoming, Journal of Accounting and Economics, 2016 Canadian Academic Accounting Association (CAAA) Annual Conference
Number of pages: 49 Posted: 13 Jan 2016 Last Revised: 09 Oct 2016
Ole-Kristian Hope, Danqi Hu and Wuyang Zhao
University of Toronto - Rotman School of Management, Northwestern University - Kellogg School of Management and University of Texas at Austin - Department of Accounting
Downloads 615 (62,023)
Citation 15

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Short Selling, Audit Fees, Regulation SHO, Bankruptcy Risk, CEO Overconfidence

6.

Cost of Information Dissemination: Short Squeezes After Short-Selling Attacks

Number of pages: 51 Posted: 23 May 2021 Last Revised: 31 Mar 2022
University of Southern California - Marshall School of Business, University of Southern California - Leventhal School of Accounting and University of Texas at Austin - Department of Accounting
Downloads 430 (96,055)

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information dissemination, short selling, short attacks, short squeezes, short covering, financial disclosure, return reversals, limits to arbitragei

7.

Market Reactions to the Closest Peer Firm's Analyst Revisions

Forthcoming, Accounting and Business Research
Number of pages: 47 Posted: 23 Jul 2016 Last Revised: 31 Oct 2017
Ole-Kristian Hope and Wuyang Zhao
University of Toronto - Rotman School of Management and University of Texas at Austin - Department of Accounting
Downloads 424 (97,622)
Citation 2

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Peer Firms, Analyst Revisions, Market Reactions, Information Transfer

8.

Analysts’ Stock Ownership and Stock Recommendations

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 56 Posted: 22 Aug 2018
Jesse Chan, Steve Lin, Yong Yu and Wuyang Zhao
Boston University - Department of Accounting, University of Memphis, University of Texas at Austin and University of Texas at Austin - Department of Accounting
Downloads 217 (196,616)
Citation 5

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Analyst, Stock Ownership, Stock Recommendation, Conflict of Interest, Credibility

9.

Pessimistic Target Prices by Short Sellers

Number of pages: 58 Posted: 06 Dec 2021 Last Revised: 31 May 2022
HEC Paris, HEC Paris, Accounting and Management Control Department, HEC Paris - Accounting and Management Control Department and University of Texas at Austin - Department of Accounting
Downloads 172 (241,651)

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target price; short-selling attacks; pessimistic bias; price impact; informativeness; reversals; retail investors

10.

In Search of Shares: Inelastic Ownership, Short Covering, and Price Efficiency

Number of pages: 57 Posted: 09 Apr 2021 Last Revised: 31 Mar 2022
Sanjeev Bhojraj and Wuyang Zhao
Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Texas at Austin - Department of Accounting
Downloads 161 (255,480)
Citation 1

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short-selling, securities lending, short covering, passive investing, ownership structure, earnings announcements, short squeezes

11.

Supply Constraints and Limits to Arbitrage in the ETF Loan Market

Number of pages: 53 Posted: 10 Jun 2021
Sanjeev Bhojraj and Wuyang Zhao
Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Texas at Austin - Department of Accounting
Downloads 153 (266,241)

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ETF; Lending fee; Create-to-lend; Ownership structure; Lendable shares

12.

Analysts’ Non-GAAP Exclusions to Forecast Lower Earnings (but Higher Valuations)

Number of pages: 58 Posted: 04 Jan 2021 Last Revised: 13 Apr 2022
Stephannie Larocque and Wuyang Zhao
University of Notre Dame - Mendoza College of Business and University of Texas at Austin - Department of Accounting
Downloads 134 (295,563)

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Analyst forecasts; Exclusions; Non-GAAP; Street earnings; Target prices; Growth

13.

Identification of Analyst Coverage Initiations

Posted: 09 Jul 2021
Jay Jung, Yong Yu and Wuyang Zhao
City, University of London - Bayes Business School, University of Texas at Austin and University of Texas at Austin - Department of Accounting

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analyst, coverage initiation, measurement error, research implications