Kai Li

University of British Columbia (UBC) - Sauder School of Business

W.M. Young Professor of Finance

2053 Main Mall

Vancouver, BC V6T 1Z2

Canada

http://finance.sauder.ubc.ca/~kaili

China Academy of Financial Research (CAFR)

1954 Huashan Road

Shanghai P.R.China, 200030

China

  • University of British Columbia (UBC) - Sauder School of Business

    • Email
    • Tel: 604-822-8353
    • Fax: 604-822-4695
SCHOLARLY PAPERS

70

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33,098

CITATIONS
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656

Scholarly Papers (70)

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1.

Self-Selection Models in Corporate Finance

Robert H. Smith School Research Paper No. RHS 06-020
Number of pages: 66 Posted: 08 Nov 2005
Kai Li and Nagpurnanand Prabhala
University of British Columbia (UBC) - Sauder School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 3,359 (2,698)
Citation 118

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conditional event studies, endogeneity, Heckman two-step, matching, propensity score, switching regression

2.

Corporate Innovations and Mergers and Acquisitions

Downloads 1,497 ( 10,593)
Citation 6

Corporate Innovations and Mergers and Acquisitions

AFA 2012 Chicago Meetings Paper
Number of pages: 66 Posted: 18 Dec 2010 Last Revised: 29 Jul 2014
Jan Bena and Kai Li
University of British Columbia - Sauder School of Business and University of British Columbia (UBC) - Sauder School of Business
Downloads 901 (22,702)
Citation 6

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Asset complementarities, innovation, mergers and acquisitions, synergies, technological overlaps

Corporate Innovations and Mergers and Acquisitions

Journal of Finance, Forthcoming
Number of pages: 78 Posted: 26 Aug 2011 Last Revised: 06 Nov 2014
Jan Bena and Kai Li
University of British Columbia - Sauder School of Business and University of British Columbia (UBC) - Sauder School of Business
Downloads 596 (40,210)
Citation 6

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Innovation, mergers and acquisitions, R&D expenses, patents, synergies, technological overlap

3.

Open Market Versus Tender Offer Share Repurchases: A Conditional Event Study

University of British Columbia, Finance Working Paper No. 98-2, Sauder School of Business Working Paper
Number of pages: 34 Posted: 11 Mar 1999 Last Revised: 09 May 2012
Kai Li and William J. McNally
University of British Columbia (UBC) - Sauder School of Business and Wilfrid Laurier University - School of Business & Economics
Downloads 1,131 (16,477)
Citation 5

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4.

The Valuation of IPO and SEO Firms

Downloads 1,082 ( 17,608)
Citation 3

The Valuation of IPO and SEO Firms

UBC Finance Division, Working Paper No. UBCFIN00-1, Sauder School of Business Working Paper
Number of pages: 37 Posted: 21 Jun 2001
Kai Li and Gary Koop
University of British Columbia (UBC) - Sauder School of Business and University of Leicester - Department of Economics
Downloads 1,082 (17,276)
Citation 3

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Misvaluation, Underpricing, Stochastic frontier, Bayesian inference, Gibbs sampling

The Valuation of IPO and SEO Firms

Forthcoming in Journal of Empirical Finance
Posted: 25 Jun 2001
Kai Li and Gary Koop
University of British Columbia (UBC) - Sauder School of Business and University of Leicester - Department of Economics

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Misvaluation, Underpricing, Stochastic frontier, Bayesian inference, Gibbs sampling

5.

Hedge Funds and Chapter 11

Journal of Finance, Forthcoming
Number of pages: 58 Posted: 29 Oct 2009 Last Revised: 20 Oct 2011
Wei Jiang, Kai Li and Wei Wang
Columbia Business School - Finance and Economics, University of British Columbia (UBC) - Sauder School of Business and Smith School of Business
Downloads 1,028 (18,959)
Citation 17

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Hedge funds, Chapter 11, Loan-to-own, APR deviation, Creditor rights

6.

Corporate Governance Requirements in Canada and the United States: A Legal and Empirical Comparison of the Principles-Based and Rules-Based Approaches

Sauder School of Business Working Paper
Number of pages: 21 Posted: 29 Mar 2006
Kai Li and Erinn B. Broshko
University of British Columbia (UBC) - Sauder School of Business and Farris, Vaughan, Wills & Murphy LLP
Downloads 1,027 (18,991)
Citation 3

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Corporate governance, rules-based approach, principles-based approach, boards, board independence

7.

Monitoring: Which Institutions Matter?

Journal of Financial Economics, Forthcoming
Number of pages: 46 Posted: 17 Sep 2006
Kai Li, Jarrad Harford and Xia Chen
University of British Columbia (UBC) - Sauder School of Business, University of Washington and Singapore Management University
Downloads 1,022 (19,125)
Citation 167

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corporate governance, institutional investors, mergers & acquisitions, monitoring, trading

8.

Diversification Benefits of Emerging Markets Subject to Portfolio Constraints

Downloads 918 ( 22,508)
Citation 31

Diversification Benefits of Emerging Markets Subject to Portfolio Constraints

Working Paper No. UBCFIN99-5, Sauder School of Business Working Paper
Number of pages: 24 Posted: 23 Jun 2001
Kai Li, Asani Sarkar and Zhenyu Wang
University of British Columbia (UBC) - Sauder School of Business, Federal Reserve Bank of New York and University of Texas at Austin - Department of Finance
Downloads 918 (22,100)
Citation 31

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International diversification, short-sale constraints, home bias, asset allocation, Bayesian inference

Diversification Benefits of Emerging Markets Subject to Portfolio Constraints

Journal of Empirical Finance, Vol. 10
Posted: 06 Jun 2003
Kai Li, Asani Sarkar and Zhenyu Wang
University of British Columbia (UBC) - Sauder School of Business, Federal Reserve Bank of New York and University of Texas at Austin - Department of Finance

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International diversification, short-sale constraints, home bias, asset allocation, Bayesian inference

9.

Do Director Elections Matter?

Chicago Booth Research Paper No. 17-08
Number of pages: 67 Posted: 24 May 2015 Last Revised: 06 Jul 2017
Vyacheslav Fos, Kai Li and Margarita Tsoutsoura
Boston College - Department of Finance, University of British Columbia (UBC) - Sauder School of Business and Cornell University
Downloads 909 (22,810)

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director elections; director nominations; staggered boards; CEO turnover–performance sensitivity; agency problems; corporate governance

10.

Determinants of Corporate Cash Policy: Insights from Private Firms

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 43 Posted: 18 Mar 2012 Last Revised: 21 Feb 2013
Huasheng Gao, Jarrad Harford and Kai Li
Fanhai International School of Finance, Fudan University, University of Washington and University of British Columbia (UBC) - Sauder School of Business
Downloads 901 (23,111)
Citation 4

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cash holdings, financing frictions, agency conflicts, private firms, excess cash, speed of adjustment

11.

Organization Capital and Mergers and Acquisitions

Number of pages: 92 Posted: 20 Oct 2014 Last Revised: 14 Feb 2017
Kai Li, Buhui Qiu and Rui Shen
University of British Columbia (UBC) - Sauder School of Business, University of Sydney Business School and Nanyang Technological University (NTU) - Division of Accounting
Downloads 874 (24,144)

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corporate acquisitions, organization capital, SG&A, cost-cutting, asset turnover, innovative efficiency, withdrawn bids

12.

Mergers and Acquisitions: The Role of Gender

Number of pages: 47 Posted: 22 Apr 2008 Last Revised: 08 Sep 2009
Maurice D. Levi, Kai Li and Feng Zhang
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Sauder School of Business and University of Utah - Department of Finance
Downloads 859 (24,765)
Citation 10

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bid premium, CEO and director gender, cumulative abnormal announcement period return, independent versus inside female directors, mergers and acquisitions

13.

Information Signaling or Agency Conflicts: What Explains Canadian Open Market Share Repurchases?

University of British Columbia, Finance Working Paper No. 97-13, Sauder School of Business Working Paper
Number of pages: 30 Posted: 11 Mar 1999
Kai Li and William J. McNally
University of British Columbia (UBC) - Sauder School of Business and Wilfrid Laurier University - School of Business & Economics
Downloads 857 (24,837)
Citation 7

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14.

Ownership, Institutions, and Capital Structure: Evidence from China

Number of pages: 51 Posted: 18 Mar 2006 Last Revised: 28 Jul 2015
Kai Li, Heng Yue and Longkai Zhao
University of British Columbia (UBC) - Sauder School of Business, Singapore Management University - School of Accountancy and Peking University - Department of Finance
Downloads 854 (24,975)
Citation 11

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foreign ownership, leverage, long-term debt, marketization, short-term debt, state ownership

15.

National Culture and the Value Implication of Corporate Governance

Number of pages: 74 Posted: 24 Feb 2014 Last Revised: 19 Dec 2017
Dale W. Griffin, Omrane Guedhami, Chuck C.Y. Kwok, Kai Li and Liang Shao
University of British Columbia (UBC) - Division of Marketing, University of South Carolina - Moore School of Business, University of South Carolina - Darla Moore School of Business, University of British Columbia (UBC) - Sauder School of Business and Hong Kong Baptist University (HKBU) - Department of Finance and Decision Sciences
Downloads 816 (26,687)

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corporate governance; firm value; hierarchical linear model; individualism; national culture; uncertainty avoidance

16.

Debt Specialization

Number of pages: 56 Posted: 11 Dec 2009 Last Revised: 28 Mar 2012
Paolo Colla, Filippo Ippolito and Kai Li
Bocconi University - Department of Finance, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences and University of British Columbia (UBC) - Sauder School of Business
Downloads 781 (28,363)
Citation 8

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debt specialization, debt structure, commercial paper, drawn credit lines, term loans, senior bonds and notes, subordinated bonds and notes, capital leases

17.

Vote Avoidance and Shareholder Voting in Mergers and Acquisitions

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 481/2016
Number of pages: 81 Posted: 01 Jul 2016 Last Revised: 12 Jan 2018
Kai Li, Tingting Liu and Julie Wu
University of British Columbia (UBC) - Sauder School of Business, Iowa State University and University of Nebraska - Lincoln
Downloads 710 (32,276)

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vote avoidance; shareholder voting; mergers and acquisitions; acquirer announcement returns; regression discontinuity design; agency problems; offer premium; institutional monitoring

18.

The Valuation of IPO, Seo and Post-Chapter 11 Firms: A Stochastic Frontier Approach

UBCFIN98-9, Sauder School of Business Working Paper
Number of pages: 29 Posted: 25 Aug 1998
Kai Li and Gary Koop
University of British Columbia (UBC) - Sauder School of Business and University of Leicester - Department of Economics
Downloads 708 (32,401)
Citation 4

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19.

Debt Specialization

Downloads 645 ( 36,756)
Citation 8

Debt Specialization

AFA 2012 Chicago Meetings Paper, Journal of Finance, Forthcoming
Number of pages: 49 Posted: 19 Mar 2011 Last Revised: 07 Sep 2012
Kai Li, Paolo Colla and Filippo Ippolito
University of British Columbia (UBC) - Sauder School of Business, Bocconi University - Department of Finance and Universitat Pompeu Fabra - Faculty of Economic and Business Sciences
Downloads 545 (45,259)
Citation 8

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debt specialization, debt structure, commercial paper, revolving credit facilities, term loans, senior bonds and notes, subordinate bonds and notes, capital leases

Debt Specialization

Midwest Finance Association 2012 Annual Meetings Paper
Number of pages: 49 Posted: 18 Sep 2011
Filippo Ippolito, Kai Li and Paolo Colla
Universitat Pompeu Fabra - Faculty of Economic and Business Sciences, University of British Columbia (UBC) - Sauder School of Business and Bocconi University - Department of Finance
Downloads 100 (249,014)
Citation 8

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debt specialization, debt structure, commercial paper, drawn credit lines, term loans, senior bonds and notes, subordinated bonds and notes, capital leases

20.

How Does Culture Influence Corporate Risk-Taking?

Number of pages: 45 Posted: 15 Mar 2012 Last Revised: 28 Jul 2015
Kai Li, Dale W. Griffin, Heng Yue and Longkai Zhao
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Division of Marketing, Singapore Management University - School of Accountancy and Peking University - Department of Finance
Downloads 637 (37,348)
Citation 2

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earnings discretion, formal institutions, harmony, individualism, national culture, corporate risk-taking, uncertainty avoidance

21.

Stakeholder Orientation and the Cost of Debt: Evidence from a Natural Experiment

Number of pages: 61 Posted: 03 Dec 2016 Last Revised: 22 Feb 2018
Huasheng Gao, Kai Li and Yujing Ma
Fanhai International School of Finance, Fudan University, University of British Columbia (UBC) - Sauder School of Business and University of International Business and Economics
Downloads 591 (41,265)

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stakeholder orientation; constituency statutes; bank loans; cost of debt; corporate social responsibility

22.

Are CEOs in Public U.S. Firms Overpaid? New Evidence from Private Firms

Number of pages: 49 Posted: 17 Mar 2010 Last Revised: 19 Mar 2012
Huasheng Gao, Kai Li and Michael L. Lemmon
Fanhai International School of Finance, Fudan University, University of British Columbia (UBC) - Sauder School of Business and University of Utah - Department of Finance
Downloads 580 (42,284)
Citation 2

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CEO annual compensation; equity incentives; pay structure; pay-performance sensitivity; private firms; public firms

23.

Corporate Boards and the Leverage and Debt Maturity Choices

Number of pages: 36 Posted: 16 Mar 2006
Jarrad Harford, Kai Li and Xinlei Shelly Zhao
University of Washington, University of British Columbia (UBC) - Sauder School of Business and Government of the United States of America - Office of the Currency Comptroller - Risk Analysis Division
Downloads 566 (43,636)
Citation 9

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leverage, debt maturity, board effectiveness, incentive alignment, director power, governance

24.

Debtor-in-Possession Financing, Loan-to-Loan, and Loan-to-Own

Number of pages: 41 Posted: 07 Jun 2013 Last Revised: 22 Jun 2016
Kai Li and Wei Wang
University of British Columbia (UBC) - Sauder School of Business and Smith School of Business
Downloads 530 (47,483)
Citation 1

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DIP financing; activist investors; board turnover; CEO turnover; Chapter 11; creditor control; loan-to-own; loan-to-loan

25.

Director Gender and Mergers and Acquisitions

Number of pages: 44 Posted: 09 May 2012 Last Revised: 08 Nov 2013
Maurice D. Levi, Kai Li and Feng Zhang
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Sauder School of Business and University of Utah - Department of Finance
Downloads 519 (48,785)
Citation 10

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director gender, bid initiation, bid premium, mergers and acquisitions, overconfidence, risk aversion

26.

Conflicts of Interests Among Shareholders: The Case of Corporate Acquisitions

Downloads 512 ( 49,606)
Citation 6

Conflicts of Interests Among Shareholders: The Case of Corporate Acquisitions

MIT Sloan Research Paper No. 4653-07, Rock Center for Corporate Governance Working Paper No. 35
Number of pages: 50 Posted: 01 Dec 2006 Last Revised: 29 Sep 2009
Kai Li, Jarrad Harford and Dirk Jenter
University of British Columbia (UBC) - Sauder School of Business, University of Washington and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 471 (54,502)
Citation 6

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cross-holdings, shareholder heterogeneity, target selection, mergers and acquisitions, toeholds, synergies, agency

Conflicts of Interests Among Shareholders: The Case of Corporate Acquisitions

NBER Working Paper No. w13274
Number of pages: 49 Posted: 23 Jul 2007 Last Revised: 05 Oct 2007
Jarrad Harford, Kai Li and Dirk Jenter
University of Washington, University of British Columbia (UBC) - Sauder School of Business and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 41 (400,886)
Citation 6

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27.

A Comparison of CEO Pay-Performance Sensitivity in Privately-Held and Public Firms

Number of pages: 55 Posted: 30 Apr 2012 Last Revised: 11 Sep 2015
Huasheng Gao and Kai Li
Fanhai International School of Finance, Fudan University and University of British Columbia (UBC) - Sauder School of Business
Downloads 509 (49,969)
Citation 1

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CEO pay; ownership concentration; pay-performance sensitivity; privately-held firms

28.

When Shareholders are Creditors: Effects of the Simultaneous Holding of Equity and Debt by Institutional Investors

EFA 2009 Bergen Meetings Paper
Number of pages: 53 Posted: 14 Jul 2008 Last Revised: 25 Jul 2011
Wei Jiang, Kai Li and Pei Shao
Columbia Business School - Finance and Economics, University of British Columbia (UBC) - Sauder School of Business and affiliation not provided to SSRN
Downloads 491 (52,296)
Citation 14

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shareholder-debtholder conflicts, dual-holding, institutional investors, syndicated loans

29.

Do Voting Rights Affect Institutional Investment Decisions? Evidence from Dual-Class Firms

Number of pages: 58 Posted: 08 Dec 2006 Last Revised: 08 Sep 2009
Kai Li, Hernan Ortiz-Molina and Xinlei Shelly Zhao
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Sauder School of Business and Government of the United States of America - Office of the Currency Comptroller - Risk Analysis Division
Downloads 489 (52,543)
Citation 11

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corporate governance, dual-class firms, institutional investors, ownership structure, unification, voting rights

30.

Decoupling CEO Wealth and Firm Performance: The Case of Acquiring CEOS

Sauder School of Business Working Paper
Number of pages: 50 Posted: 17 Mar 2005
Kai Li and Jarrad Harford
University of British Columbia (UBC) - Sauder School of Business and University of Washington
Downloads 473 (54,849)
Citation 62

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acquisitions, capital expenditures, corporate governance, equity incentives, pay-performance sensitivity

31.

CEO Turnover-Performance Sensitivities in Private Firms

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 60 Posted: 11 Jan 2014 Last Revised: 03 Oct 2015
Huasheng Gao, Jarrad Harford and Kai Li
Fanhai International School of Finance, Fudan University, University of Washington and University of British Columbia (UBC) - Sauder School of Business
Downloads 460 (56,765)

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agency problems; CEO turnover; CEO turnover-performance sensitivity; investor horizon; investor myopia; private firms

32.

Determinants of Corporate Cash Policy: A Comparison of Public and Private Firms

Number of pages: 43 Posted: 11 Dec 2010 Last Revised: 03 Apr 2012
Huasheng Gao, Jarrad Harford and Kai Li
Fanhai International School of Finance, Fudan University, University of Washington and University of British Columbia (UBC) - Sauder School of Business
Downloads 453 (57,829)
Citation 4

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Cash Holdings, Cash-to-Cash Flow Sensitivity, Agency Conflicts, Financing Frictions, Private Firms

33.

Bayesian Analysis of Duration Models: An Application to Chapter 11 Bankruptcy

Downloads 391 ( 69,030)
Citation 10

Bayesian Analysis of Duration Models: An Application to Chapter 11 Bankruptcy

University of British Columbia, Finance Working Paper No. 99-1, Sauder School of Business Working Paper
Number of pages: 12 Posted: 02 Mar 1999
Kai Li
University of British Columbia (UBC) - Sauder School of Business
Downloads 391 (68,429)
Citation 10

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Bayesian Analysis of Duration Models: An Application to Chapter 11 Bankruptcy

Economics Letters, 1999
Posted: 02 Mar 1999
Kai Li
University of British Columbia (UBC) - Sauder School of Business

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34.

Privatization and Risk Sharing: Evidence from the Split Share Structure Reform in China

Downloads 373 ( 72,961)
Citation 12

Privatization and Risk Sharing: Evidence from the Split Share Structure Reform in China

Review of Financial Studies, Forthcoming
Number of pages: 40 Posted: 17 Mar 2010 Last Revised: 07 Jun 2012
Kai Li, Tan Wang, Yan-Leung Cheung and Ping Jiang
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Division of Finance, Hong Kong Institute of Education and School of International Trade and Economics, University of International Business and Economics
Downloads 279 (100,682)
Citation 12

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bargaining power, compensation ratio, price impact, risk sharing, share issue privatization

Privatization and Risk Sharing: Evidence from the Split Share Structure Reform in China

Number of pages: 43 Posted: 18 May 2011
Kai Li, Tan Wang, Yan-Leung Cheung and Ping Jiang
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Division of Finance, Hong Kong Institute of Education and School of International Trade and Economics, University of International Business and Economics
Downloads 94 (259,561)
Citation 12

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bargaining power, compensation ratio, price impact, risk sharing, share issue privatization

35.

CEO Pay Cuts and Forced Turnover: Their Causes and Consequences

Journal of Corporate Finance, Forthcoming
Number of pages: 48 Posted: 19 Mar 2009 Last Revised: 02 Jan 2012
Huasheng Gao, Jarrad Harford and Kai Li
Fanhai International School of Finance, Fudan University, University of Washington and University of British Columbia (UBC) - Sauder School of Business
Downloads 365 (74,848)
Citation 1

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CEO turnover, corporate governance, executive compensation, pay cuts, pay-for-performance sensitivity

36.

Should Us Investors Hold Foreign Stocks?

Current Issues in Economics and Finance, Vol. 8, No. 3, March 2002, Sauder School of Business Working Paper
Number of pages: 6 Posted: 15 Sep 2004
Kai Li and Asani Sarkar
University of British Columbia (UBC) - Sauder School of Business and Federal Reserve Bank of New York
Downloads 363 (75,327)
Citation 1

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International diversification, Short-sale constraints, Home bias, Asset allocation

37.

A Bayesian Analysis of a Variance Decomposition for Stock Returns

Sauder School of Business Working Paper
Number of pages: 26 Posted: 19 Nov 2002
Burton Hollifield, Kai Li and Gary Koop
Carnegie Mellon University - David A. Tepper School of Business, University of British Columbia (UBC) - Sauder School of Business and University of Leicester - Department of Economics
Downloads 298 (94,157)
Citation 2

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vector autoregression, priors, initial conditions, nonlinear functions

38.

Deal or No Deal: Hormones and the Mergers and Acquisitions Game

Number of pages: 46 Posted: 22 Mar 2009 Last Revised: 17 Sep 2010
Maurice D. Levi, Kai Li and Feng Zhang
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Sauder School of Business and University of Utah - Department of Finance
Downloads 295 (95,213)
Citation 6

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mergers and acquisitions, male dominance seeking, CEO testosterone, bid initiation, bid withdrawal, tender offers

39.

Innovation Strategy of Private Firms

Number of pages: 54 Posted: 12 Mar 2014 Last Revised: 16 Aug 2017
Huasheng Gao, Po-Hsuan Hsu and Kai Li
Fanhai International School of Finance, Fudan University, University of Hong Kong and University of British Columbia (UBC) - Sauder School of Business
Downloads 289 (97,345)

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innovation strategy; exploratory innovation; exploitative innovation; investment horizons; private firms; public firms

40.

Men are from Mars, Women are from Venus: Gender and Mergers and Acquisitions

Number of pages: 33 Posted: 15 Mar 2011
Maurice D. Levi, Kai Li and Feng Zhang
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Sauder School of Business and University of Utah - Department of Finance
Downloads 287 (98,110)
Citation 1

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41.

The Growth in Equity Market Size and Trading Activity: An International Study

Downloads 276 (102,327)
Citation 7

The Growth in Equity Market Size and Trading Activity: An International Study

Sauder School of Business Working Paper
Number of pages: 57 Posted: 29 Mar 2006
Kai Li
University of British Columbia (UBC) - Sauder School of Business
Downloads 190 (147,950)
Citation 7

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laws and institutions, value traded, turnover, stochastic frontier, Bayesian inference

The Growth in Equity Market Size and Trading Activity: An International Study

Journal of Empirical Finance, Vol. 14, pp. 59-90, 2007
Number of pages: 32 Posted: 22 Feb 2007
Kai Li
University of British Columbia (UBC) - Sauder School of Business
Downloads 86 (274,857)
Citation 7

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Laws and institutions, Value traded, Turnover, Stochastic frontier, Bayesian inference

42.

Technology Conglomeration, Strategic Alliances, and Corporate Innovation

Number of pages: 73 Posted: 16 Aug 2014 Last Revised: 06 Mar 2018
Kai Li, Jiaping Qiu and Jin Wang
University of British Columbia (UBC) - Sauder School of Business, McMaster University - Michael G. DeGroote School of Business and Wilfrid Laurier University - Lazaridis School of Business & Economics
Downloads 272 (103,811)

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firm-to-economy technological proximity, technology conglomeration, innovation, synergy, strategic alliances, knowledge pooling, cross-fertilization, tolerance for failure

43.

Country of Origin Effects in Capital Structure Decisions: Evidence from Foreign Direct Investments in China

Number of pages: 61 Posted: 06 Mar 2009
Dale W. Griffin, Kai Li, Heng Yue and Longkai Zhao
University of British Columbia (UBC) - Division of Marketing, University of British Columbia (UBC) - Sauder School of Business, Singapore Management University - School of Accountancy and Peking University - Department of Finance
Downloads 248 (114,365)
Citation 4

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country of origin, embeddedness, foreign direct investments, leverage, mastery, uncertainty avoidance

44.

Testing Symmetry and Proportionality in PPP: A Panel Data Approach

Downloads 226 (125,586)

Testing Symmetry and Proportionality in PPP: A Panel Data Approach

University of British Columbia Finance WP No. 97-11, Sauder School of Business Working Paper
Number of pages: 33 Posted: 27 Feb 1999
Kai Li
University of British Columbia (UBC) - Sauder School of Business
Downloads 226 (125,152)
Citation 3

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Testing Symmetry and Proportionality in PPP: A Panel Data Approach

Journal of Business and Economic Statistics
Posted: 27 Feb 1999
Kai Li
University of British Columbia (UBC) - Sauder School of Business

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45.

Asymmetric Information and Dividend Policy

Number of pages: 35 Posted: 09 Feb 2007
Kai Li and Xinlei Shelly Zhao
University of British Columbia (UBC) - Sauder School of Business and Government of the United States of America - Office of the Currency Comptroller - Risk Analysis Division
Downloads 213 (132,987)
Citation 10

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asymmetric information, dividend initiation, dividend increase, dividend payout, repurchase, information environment

46.

Confidence in the Familiar: An International Perspective

Downloads 211 (134,118)
Citation 12

Confidence in the Familiar: An International Perspective

Sauder School of Business Working Paper
Number of pages: 37 Posted: 12 Jun 2003
Kai Li
University of British Columbia (UBC) - Sauder School of Business
Downloads 211 (133,798)
Citation 12

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asset pricing models, Bayesian, country-specific risk, home bias, panel data

Confidence in the Familiar: An International Perspective

Journal of Financial and Quantitative Analysis, Forthcoming
Posted: 12 Jun 2003
Kai Li
University of British Columbia (UBC) - Sauder School of Business

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asset pricing models, Bayesian, country-specific risk, home bias, panel data

47.

How Does Culture Influence Corporate Risk-Taking?

Number of pages: 51 Posted: 05 Mar 2010 Last Revised: 28 Jul 2015
Dale W. Griffin, Kai Li, Heng Yue and Longkai Zhao
University of British Columbia (UBC) - Division of Marketing, University of British Columbia (UBC) - Sauder School of Business, Singapore Management University - School of Accountancy and Peking University - Department of Finance
Downloads 207 (136,601)
Citation 7

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harmony, individualism, national culture, risk-taking, uncertainty avoidance

48.

The Real Effect of Smoking Bans: Evidence from Corporate Innovation

Number of pages: 58 Posted: 13 Aug 2016 Last Revised: 27 Jun 2018
Huasheng Gao, Po-Hsuan Hsu, Kai Li and Jin Zhang
Fanhai International School of Finance, Fudan University, University of Hong Kong, University of British Columbia (UBC) - Sauder School of Business and Monash University
Downloads 203 (139,125)

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Innovation, Smoking Bans, Patent, Patent Citation, Inventor Productivity, Inventor Relocation

49.

National Culture and Capital Structure Decisions: Evidence from Foreign Joint Ventures in China

Number of pages: 49 Posted: 14 Sep 2010
Kai Li, Dale W. Griffin, Heng Yue and Longkai Zhao
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Division of Marketing, Singapore Management University - School of Accountancy and Peking University - Department of Finance
Downloads 199 (141,790)
Citation 4

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Country of Origin, Cultural Values, Embeddedness, Foreign Direct Investments, Leverage, Mastery

50.

Relationship between Maternal Behavior During Pregnancy, Birth Outcome, and Early Childhood Development: An Exploratory Study

CESifo Working Paper Series No. 1030, Sauder School of Business Working Paper
Number of pages: 25 Posted: 27 May 2003
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine
Downloads 188 (149,479)

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endogeneity, birth weight, NLSY, prediction, simultaneous equations

51.

Exchange Rate Target Zone Models: A Bayesian Evaluation

Downloads 176 (158,614)

Exchange Rate Target Zone Models: A Bayesian Evaluation

University of British Columbia, Finance Working Paper No. 97-8, Sauder School of Business Working Paper
Number of pages: 47 Posted: 27 Feb 1999
Kai Li
University of British Columbia (UBC) - Sauder School of Business
Downloads 176 (158,650)
Citation 1

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Exchange Rate Target Zone Models: A Bayesian Evaluation

Journal of Applied Econometrics
Posted: 27 Feb 1999
Kai Li
University of British Columbia (UBC) - Sauder School of Business

Abstract:

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52.

An Analysis of Own Account Trading by Dual Traders in Futures Markets: A Bayesian Approach

University of British Columbia, Finance Working Paper No. 99-9, Sauder School of Business Working Paper
Number of pages: 48 Posted: 06 Mar 2000
Kai Li and Sugato Chakravarty
University of British Columbia (UBC) - Sauder School of Business and Purdue University
Downloads 168 (165,278)
Citation 11

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53.

An Examination of Own Account Trading by Dual Traders in Futures Markets

Downloads 157 (175,189)

An Examination of Own Account Trading by Dual Traders in Futures Markets

Sauder School of Business Working Paper
Number of pages: 31 Posted: 20 Jul 2002
Kai Li and Sugato Chakravarty
University of British Columbia (UBC) - Sauder School of Business and Purdue University
Downloads 157 (175,447)
Citation 11

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dual trading, front running, informed trader, inventory, liquidity

An Examination of Own Account Trading by Dual Traders in Futures Markets

Forthcoming in Journal of Financial Economics
Posted: 06 Aug 2002
Kai Li and Sugato Chakravarty
University of British Columbia (UBC) - Sauder School of Business and Purdue University

Abstract:

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dual trading, front running, informed trader, inventory, liquidity

54.

A Bayesian Analysis of Dual Trader Informativeness in Futures Markets

Downloads 125 (210,659)
Citation 4

A Bayesian Analysis of Dual Trader Informativeness in Futures Markets

Sauder School of Business Working Paper
Number of pages: 26 Posted: 27 Aug 2002
Sugato Chakravarty and Kai Li
Purdue University and University of British Columbia (UBC) - Sauder School of Business
Downloads 125 (211,489)
Citation 4

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endogeneity, heterogeneity, informed trader, Markov chain Monte Carlo, private information, simultaneous equations

A Bayesian Analysis of Dual Trader Informativeness in Futures Markets

Forthcoming in Journal of Empirical Finance
Posted: 27 Aug 2002
Kai Li and Sugato Chakravarty
University of British Columbia (UBC) - Sauder School of Business and Purdue University

Abstract:

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endogeneity, heterogeneity, informed trader, Markov chain Monte Carlo, private information, simultaneous equations

55.

Are Women More Likely to Seek Advice than Men? Evidence from the Boardroom

Journal of Risk and Financial Management, Vol. 8, pp. 127-149, 2015, DOI: 10.3390/jrfm8010127
Number of pages: 23 Posted: 13 Feb 2015 Last Revised: 14 Feb 2015
Maurice D. Levi, Kai Li and Feng Zhang
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Sauder School of Business and University of Utah - Department of Finance
Downloads 117 (221,296)

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seeking advice; financial advisors; director gender; overconfidence; takeovers

56.

An Econometric Model of Birth Inputs and Outputs: A Detailed Report

UBCFIN00-3, Sauder School of Business Working Paper
Number of pages: 93 Posted: 26 Jun 2000
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine
Downloads 93 (259,423)
Citation 4

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57.

An Econometric Model of Birth Inputs and Outputs for Native Americans

Downloads 86 (272,563)
Citation 4

An Econometric Model of Birth Inputs and Outputs for Native Americans

Univ. of British Columbia Working Paper No. FIN99-7, Sauder School of Business Working Paper
Number of pages: 38 Posted: 02 Dec 1999
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine
Downloads 86 (274,857)
Citation 4

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Bayesian, Birth length, Birth weight, Drinking, Gestation, Prenatal care, Simultaneity, Smoking, Weight gain

An Econometric Model of Birth Inputs and Outputs for Native Americans

Journal of Econometrics, Forthcoming
Posted: 26 Aug 2002
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine

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Bayesian, Birth length, Birth weight, Drinking, Gestation, Prenatal care, Simultaneity, Smoking, Weight gain

58.

Bayesian Analysis of an Econometric Model of Birth Inputs and Outputs

Downloads 78 (289,062)
Citation 3

Bayesian Analysis of an Econometric Model of Birth Inputs and Outputs

Sauder School of Business Working Paper
Number of pages: 39 Posted: 13 Nov 2002
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine
Downloads 78 (291,876)
Citation 3

Abstract:

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Birth weight, NLSY, simultaneity

Bayesian Analysis of an Econometric Model of Birth Inputs and Outputs

Journal of Population Economics, Forthcoming
Posted: 13 Nov 2002
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine

Abstract:

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Birth weight, NLSY, simultaneity

59.

Risk Homeostasis and Corporate Acquisitions

Number of pages: 35 Posted: 12 Aug 2010 Last Revised: 01 Oct 2012
Maurice D. Levi, Kai Li and Feng Zhang
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Sauder School of Business and University of Utah - Department of Finance
Downloads 77 (291,226)

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Mergers and Acquisitions, Return Correlation, Risk Dynamics, Risk Homeostasis

60.

Investment Banker Directors and Capital Raising Activities

Number of pages: 64 Posted: 04 Sep 2017 Last Revised: 27 Sep 2018
Qianqian Huang, Kai Li and Ting Xu
City University of Hong Kong, University of British Columbia (UBC) - Sauder School of Business and University of Virginia - Darden School of Business
Downloads 67 (314,729)

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Seasoned equity offerings; board of directors; investment banker directors; information asymmetry; corporate policy; underwriters

61.

Using the National Longitudinal Survey of Youth in the Us to Study the Birth Process: A Bayesian Approach

Downloads 60 (333,134)
Citation 2

Using the National Longitudinal Survey of Youth in the Us to Study the Birth Process: A Bayesian Approach

U of British Columbia Working Paper No. UBCFIN01-1, Sauder School of Business Working Paper
Number of pages: 16 Posted: 29 Jul 2001
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine
Downloads 60 (337,699)
Citation 2

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birth length, birth weight, drinking, gestation, NLSY, prenatal care, simultaneity, smoking, weight gain

Using the National Longitudinal Survey of Youth in the Us to Study the Birth Process: A Bayesian Approach

Forthcoming in Research in Official Statistics
Posted: 14 Aug 2001
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine

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birth length, birth weight, drinking, gestation, NLSY, prenatal care, simultaneity, smoking, weight gain

62.

Going Public and Innovation Strategy: The Role of Ownership Structure

Number of pages: 52 Posted: 30 Jul 2018
Guoli Chen, Huasheng Gao, Po-Hsuan Hsu and Kai Li
INSEAD - Singapore, Fanhai International School of Finance, Fudan University, University of Hong Kong and University of British Columbia (UBC) - Sauder School of Business
Downloads 57 (344,324)

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Innovation Strategy; Exploration and Exploitation; IPO; Private Versus Public Ownership; Ownership Structure

63.

Product Market Dynamics and Mergers and Acquisitions: Insights from the USPTO Trademark Data

Number of pages: 71 Posted: 24 May 2018
Po-Hsuan Hsu, Kai Li, Yunan Liu and Hong Wu
University of Hong Kong, University of British Columbia (UBC) - Sauder School of Business, The University of Hong Kong - School of Economics and Finance and Hong Kong Polytechnic University - School of Accounting and Finance
Downloads 57 (341,475)

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Trademarks; Product Lines; New Products; Mergers and Acquisitions; Product Market Overlap

64.

The Roles of Birth Inputs and Outputs in Predicting Health, Behavior, and Test Scores in Early Childhood

Sauder School of Business Working Paper
Number of pages: 34 Posted: 29 Jul 2003
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine
Downloads 52 (356,615)
Citation 2

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early childhood development, birth weight, maternal behavior during pregnancy, endogeneity, NLSY, Bayesian

65.

Corporate Decisions, Information and Prices: Do Managers Move Prices or Do Prices Move Managers?

Economic Notes, Vol. 33, No. 1, pp. 83-110, February 2004
Number of pages: 28 Posted: 03 Jul 2004
Kai Li, Ron Giammarino, Robert L. Heinkel and Burton Hollifield
University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Sauder School of Business, University of British Columbia (UBC) - Division of Finance and Carnegie Mellon University - David A. Tepper School of Business
Downloads 14 (521,353)
Citation 7
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66.

Measuring Corporate Culture Using Machine Learning

Number of pages: 89
Kai Li, Feng Mai, Rui Shen and Xinyan Yan
University of British Columbia (UBC) - Sauder School of Business, Stevens Institute of Technology, Nanyang Technological University (NTU) - Division of Accounting and University of Dayton
Downloads 10

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machine learning; word embedding; unsupervised learning; corporate culture; cultural fit; acculturation; mergers and acquisitions

67.

National Culture and the Value Implications of Corporate Social Responsibility

Number of pages: 96 Posted: 08 Oct 2018
Dale W. Griffin, Omrane Guedhami, Kai Li and Guangli Lu
University of British Columbia (UBC) - Division of Marketing, University of South Carolina - Moore School of Business, University of British Columbia (UBC) - Sauder School of Business and University of British Columbia, Sauder School of Business
Downloads 9 (548,872)

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Corporate Social Responsibility; Firm Value; Hierarchical Linear Model; Individualism; National Culture; Environmental Commitments; Social Commitments

68.

Board Gender Diversity, Corporate Innovation, and Firm Value: International Evidence

Number of pages: 73
Dale W. Griffin, Kai Li and Ting Xu
University of British Columbia (UBC) - Division of Marketing, University of British Columbia (UBC) - Sauder School of Business and University of Virginia - Darden School of Business
Downloads 3

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board gender diversity; firm value; corporate innovation; patent novelty; innovative efficiency; risk-taking; regulations; national culture

69.

An Econometric Analysis of the Birth Process by Racial/Ethnic Groups

BAYESIAN METHODS WITH APPLICATIONS TO SCIENCE, POLICY, AND OFFICIAL STATISTICS, Selected Papers from ISBA 2000: The Sixth World Meeting of the International Society for Bayesian Analysis, Forthcoming
Posted: 21 Jun 2001
Kai Li and Dale J. Poirier
University of British Columbia (UBC) - Sauder School of Business and University of California - Irvine

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alcohol, Bayesian, birth length, birth weight, gestation, NLSY, prenatal care, simultaneity, smoking, weight gain

70.

Bayesian Inference in a Simultaneous Equation Model with Limited Dependent Variables

Journal of Econometrics, Vol. 85, No. 2, 1998
Posted: 24 Aug 1998
Kai Li
University of British Columbia (UBC) - Sauder School of Business

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