Chuan-Yang Hwang

Nanyang Business School, Nanyang Technological University

Professor

Singapore, 639798

Singapore

  • Nanyang Business School, Nanyang Technological University

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    • Tel: 65-67905003
    • Fax: 65-6791-3697
SCHOLARLY PAPERS

33

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89

Scholarly Papers (33)

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1.

Anchoring, the 52-Week High and Post Earnings Announcement Drift

Number of pages: 68 Posted: 07 Feb 2014 Last Revised: 10 Feb 2017
Thomas J. George, Chuan-Yang Hwang and Yuan Li
University of Houston - Department of Finance, Nanyang Business School, Nanyang Technological University and Aarhus University - Department of Economics and Business Economics
Downloads 1,765 (21,345)
Citation 5

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earnings drift, anchoring, 52-week high, anomalies

2.

A Resolution of the Distress Risk and Leverage Puzzles in the Cross Section of Stock Returns

Journal of Financial Economics, Vol. 96, pp. 56-79, 2010
Number of pages: 55 Posted: 25 Mar 2008 Last Revised: 06 Jul 2010
Thomas J. George and Chuan-Yang Hwang
University of Houston - Department of Finance and Nanyang Business School, Nanyang Technological University
Downloads 1,167 (39,555)
Citation 13

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3.

Investor Tastes, Corporate Behavior and Stock Returns: An Analysis of Corporate Social Responsibility

Forthcoming at Management Science. Nanyang Business School Research Paper No. 21-19
Number of pages: 56 Posted: 17 Feb 2015 Last Revised: 04 Aug 2021
Chuan-Yang Hwang, Sheridan Titman and Ying Wang
Nanyang Business School, Nanyang Technological University, University of Texas at Austin - Department of Finance and Central University of Finance and Economics (CUFE)
Downloads 1,014 (48,349)
Citation 4

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Corporate Social Responsibility, institutional ownership, shareholders activism

4.

Is Information Risk Priced? Evidence from the Price Discovery of Large Trades

Downloads 955 (52,574)
Citation 3

Is Information Risk Priced? Evidence from the Price Discovery of Large Trades

AFA 2011 Denver Meetings Paper
Number of pages: 68 Posted: 02 Apr 2010 Last Revised: 20 Sep 2011
Xiaolin Qian and Chuan-Yang Hwang
affiliation not provided to SSRN and Nanyang Business School, Nanyang Technological University
Downloads 300 (215,281)
Citation 1

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Information Risk, Large Trade, VECM

Is Information Risk Priced?: Evidence from the Price Discovery of Large Trades

21st Australasian Finance and Banking Conference 2008 Paper
Number of pages: 68 Posted: 26 Aug 2008 Last Revised: 15 Oct 2010
Chuan-Yang Hwang and Xiaolin Qian
Nanyang Business School, Nanyang Technological University and affiliation not provided to SSRN
Downloads 238 (273,015)
Citation 1

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Information Risk, Price Discovery, Trade Size

Is Information Risk Priced? Evidence from the Price Discovery of Large Trades

Number of pages: 66 Posted: 12 Mar 2009
Chuan-Yang Hwang and Xiaolin Qian
Nanyang Business School, Nanyang Technological University and affiliation not provided to SSRN
Downloads 214 (302,957)
Citation 1

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Information risk, Price discovery, Trade size

Price Discovery Function of Large Trades and the Cross-Section of Expected Stock Returns

Number of pages: 64 Posted: 07 Oct 2010 Last Revised: 21 Sep 2011
Chuan-Yang Hwang and Xiaolin Qian
Nanyang Business School, Nanyang Technological University and affiliation not provided to SSRN
Downloads 203 (318,721)

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Price Discovery, Information Risk, Large Trade, VECM

5.

Mutual Fund Herding and Dispersion of Analysts' Earnings Forecasts

Number of pages: 41 Posted: 02 Mar 2005
Kalok Chan, Chuan-Yang Hwang and G. Mujtaba Mian
CUHK Business School, Nanyang Business School, Nanyang Technological University and MBS College of Business and Entrepreneurship
Downloads 892 (57,746)
Citation 14

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herding, forecast dispersion, mutual funds, analysts

6.

The 52-Week High, q Theory and the Cross-Section of Stock Returns

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 51 Posted: 24 Sep 2014 Last Revised: 10 Feb 2017
Thomas J. George, Chuan-Yang Hwang and Yuan Li
University of Houston - Department of Finance, Nanyang Business School, Nanyang Technological University and Aarhus University - Department of Economics and Business Economics
Downloads 760 (71,680)
Citation 18

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Anchoring, 52-Week High, Investment, Anomalies, Asset Growth, SEOs

7.

The Impact of Tick Size on Market Quality: An Empirical Investigation of the Stock Exchange of Hong Kong

Number of pages: 22 Posted: 30 Nov 1998
K.C. Chan and Chuan-Yang Hwang
Hong Kong University of Science & Technology (HKUST) - Department of Finance and Nanyang Business School, Nanyang Technological University
Downloads 666 (85,088)
Citation 7

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8.

Sentiment Contagion, Corporate Governance, Information and Legal Environments

Downloads 454 (136,905)

Sentiment Contagion, Corporate Governance, Information and Legal Environments

Number of pages: 49 Posted: 14 Mar 2009
Yuk Ying (Candie) Chang, Robert W. Faff and Chuan-Yang Hwang
Massey University, Corvinus University Budapest and Nanyang Business School, Nanyang Technological University
Downloads 240 (271,890)

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Investor Sentiment, Financial Contagion, Information Environment, Legal Environment, Corporate Governance

Sentiment Contagion, Corporate Governance, Information and Legal Environments

Number of pages: 49 Posted: 03 Mar 2009
Yuk Ying (Candie) Chang, Robert W. Faff and Chuan-Yang Hwang
Massey University, Corvinus University Budapest and Nanyang Business School, Nanyang Technological University
Downloads 214 (302,957)

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Investor Sentiment, Financial Contagion, Information Environment, Legal Environment, Corporate Governance

9.

Local and Global Sentiment Effects, and the Role of Legal, Information and Trading Environments

Number of pages: 50 Posted: 15 Mar 2012
Yuk Ying (Candie) Chang, Robert W. Faff and Chuan-Yang Hwang
Massey University, Corvinus University Budapest and Nanyang Business School, Nanyang Technological University
Downloads 421 (149,525)
Citation 4

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Local Sentiment, Global Sentiment, Contagion, Legal Environment, Trading Environment, Information Environment

10.

Analyst Coverage and Two Puzzles in the Cross Section of Returns

AFA 2012 Chicago Meetings Paper
Number of pages: 69 Posted: 18 Mar 2011 Last Revised: 04 Feb 2013
Thomas J. George and Chuan-Yang Hwang
University of Houston - Department of Finance and Nanyang Business School, Nanyang Technological University
Downloads 383 (166,300)
Citation 7

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Idiosyncratic Volatility, Turnover Volatility, Disagreement, Mispricing

11.

Disclosure Policies of Investment Funds

Quarterly Journal of Finance, Forthcoming
Number of pages: 57 Posted: 09 Aug 2007 Last Revised: 07 Oct 2014
Thomas J. George and Chuan-Yang Hwang
University of Houston - Department of Finance and Nanyang Business School, Nanyang Technological University
Downloads 320 (202,436)
Citation 1

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disclosure, mutual funds, hedge funds, dynamic, information

12.

Information Risk and Momentum Anomalies

Number of pages: 61 Posted: 06 Oct 2010 Last Revised: 20 Sep 2011
Chuan-Yang Hwang and Xiaolin Qian
Nanyang Business School, Nanyang Technological University and affiliation not provided to SSRN
Downloads 270 (242,151)

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Information risk, momentum anomalies, idiosyncratic volatility

13.

Are Analysts Whose Forecast Revisions Correlate Less with Prior Stock Price Changes Better Information Producers and Monitors?

AFA 2012 Chicago Meetings Paper
Number of pages: 54 Posted: 15 Mar 2011 Last Revised: 31 Jan 2020
Chuan-Yang Hwang, Yuan Li and Yen H. Tong
Nanyang Business School, Nanyang Technological University, Aarhus University - Department of Economics and Business Economics and Nanyang Technological University (NTU) - Nanyang Business School
Downloads 253 (259,668)
Citation 4

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Analysts, Earnings forecasts, Analyst ability, Analysts' private information, Investment sensitivity, Earnings management

14.

Is it Who You Know or What You Know? Evidence from IPO Allocations and Mutual Fund Performance

Number of pages: 49 Posted: 20 Jan 2016 Last Revised: 01 Feb 2016
Chuan-Yang Hwang, Sheridan Titman and Yuxi Wang
Nanyang Business School, Nanyang Technological University, University of Texas at Austin - Department of Finance and Shanghai Jiao Tong University (SJTU) - Antai College of Economics and Management
Downloads 251 (260,664)
Citation 3

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Social connection, IPO allocation, mutual fund performance, mutual funds

15.

Information Asymmetry and Momentum Anomalies

24th Australasian Finance and Banking Conference 2011 Paper
Number of pages: 61 Posted: 21 Aug 2011
Xiaolin Qian and Chuan-Yang Hwang
affiliation not provided to SSRN and Nanyang Business School, Nanyang Technological University
Downloads 232 (281,665)

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Information Asymmetry, Price Discovery, Momentum Anomalies

16.

What Happens After a Fund Family Begins to Offer ETFs?

Nanyang Business School Research Paper No. 20-04
Number of pages: 49 Posted: 10 Apr 2020 Last Revised: 31 Mar 2021
Hui-Chieh Chen, Sheng‐Syan Chen, Chuan-Yang Hwang and Chin-Te Yu
National Chengchi University (NCCU), National Chengchi University, Nanyang Business School, Nanyang Technological University and HSBC Global Asset Management
Downloads 196 (330,433)
Citation 1

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ETFs, brand name, mutual fund performance, fund flow-performance sensitivity

17.

Analyst Coverage and the Glamour Discount

Number of pages: 30 Posted: 17 Mar 2008 Last Revised: 18 Mar 2009
Chuan-Yang Hwang and Thomas J. George
Nanyang Business School, Nanyang Technological University and University of Houston - Department of Finance
Downloads 193 (335,221)

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analyst coverage, glamour discount

18.

Analyst Industry Knowledge and School Tie Spillover

Nanyang Business School Research Paper No. 20-02
Number of pages: 61 Posted: 25 Mar 2020 Last Revised: 31 Mar 2021
Sheng‐Syan Chen, Chuan-Yang Hwang, Chen-Chieh Liao and Chin-Te Yu
National Chengchi University, Nanyang Business School, Nanyang Technological University, National Chengchi University (NCCU) - Department of Finance and HSBC Global Asset Management
Downloads 185 (348,542)

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Financial Analysts, School Ties, Industry Information, Forecast Accuracy, Analyst Recommendations, Regulation Fair Disclosure

19.

Local and Global Sentiment Effects, and the Role of Legal, Trading and Information Environments

Number of pages: 50 Posted: 02 Apr 2011 Last Revised: 19 Mar 2012
Yuk Ying (Candie) Chang, Robert W. Faff and Chuan-Yang Hwang
Massey University, Corvinus University Budapest and Nanyang Business School, Nanyang Technological University
Downloads 169 (377,706)

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Local Sentiment, Global Sentiment, Contagion, Legal Environment, Trading Environment, Information Environment

20.

Liquidity, Favorite-Longshot Bias, and the Return of Lottery-Like Stocks

Number of pages: 50 Posted: 09 Aug 2023
Chuan-Yang Hwang and Long Yi
Nanyang Business School, Nanyang Technological University and Shenzhen Audencia Financial Technology Institute
Downloads 133 (460,471)

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prospect theory, favorite-long shot bias, liquidity

21.

Analysts’ Reputational Concerns, Self-censoring and the International Dispersion Effect

Management Science Forthcoming
Number of pages: 36 Posted: 02 Jul 2012 Last Revised: 14 Feb 2017
Chuan-Yang Hwang and Yuan Li
Nanyang Business School, Nanyang Technological University and Aarhus University - Department of Economics and Business Economics
Downloads 130 (471,746)

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analysts’ incentives; analysts’ reputational concerns; self-censoring; the dispersion effect; international markets

22.

Bootstrap Refinements in Tests of Microstructure Frictions

Review of Quantitative Finance and Accounting, Vol. 35, pp. 47-79, 2010
Number of pages: 34 Posted: 10 Mar 2008 Last Revised: 06 Jul 2010
Thomas J. George, Chuan-Yang Hwang and Tavy Ronen
University of Houston - Department of Finance, Nanyang Business School, Nanyang Technological University and Rutgers University, Newark, School of Business-Newark, Department of Finance & Economics
Downloads 111 (529,501)

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bootstrap, microstructure, variance ratios

23.

February, Share Turnover, and Momentum in China

Number of pages: 32 Posted: 25 Aug 2023
Thomas J. George, Chuan-Yang Hwang and Yuan Li
University of Houston - Department of Finance, Nanyang Business School, Nanyang Technological University and Aarhus University - Department of Economics and Business Economics
Downloads 103 (559,583)

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Chinese market, Momentum, February

24.

Analysts’ Reputational Concerns, Self-Censoring and the International Dispersion Effect

Number of pages: 36 Posted: 06 Jan 2017
Chuan-Yang Hwang and Yuan Li
Nanyang Business School, Nanyang Technological University and Loughborough University
Downloads 70 (706,758)
Citation 5

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analysts’ incentives; analysts’ reputational concerns; self-censoring; the dispersion effect; international markets

25.

Float, Speculation, and Stock Price: Evidence from the Share Structure Reform in China

The Singapore Economic Review, Vol. 63, No. 3 (2018) 701–729., Asian Finance Association (AsFA) 2013 Conference
Number of pages: 40 Posted: 22 Jan 2013 Last Revised: 28 Oct 2020
Chuan-Yang Hwang, Shaojun Zhang and Yanjian Zhu
Nanyang Business School, Nanyang Technological University, Hong Kong Polytechnic University and Zhejiang University
Downloads 42 (904,192)

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Bubble, Float, Heterogeneous beliefs, Split Share Structure Reform in China, Speculative trading

26.

Voluntary Disclosure and Corporate Innovation

Posted: 16 Jan 2019
Sheng‐Syan Chen, Chia-Wei Huang, Chuan-Yang Hwang and Yanzhi Wang
National Chengchi University, National Chengchi University, Nanyang Business School, Nanyang Technological University and National Taiwan University - Department of Finance

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Innovation; Patent; Voluntary Disclosure; SOX

27.

Signalling and the Pricing of New Issues

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
Mark Grinblatt and Chuan-Yang Hwang
University of California, Los Angeles (UCLA) - Finance Area and Nanyang Business School, Nanyang Technological University

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Signaling, Startups, Initial public offerings (IPO), Stock offerings, Underpricing, Valuation, Market value, Prices, Shareholders, Information asymmetry

28.

Long-Term Reversals: Overreaction or Taxes?

Journal of Finance, Vol. 62, No. 6, pp. 2865-2896, 2007
Posted: 10 Mar 2008
Chuan-Yang Hwang and Thomas J. George
Nanyang Business School, Nanyang Technological University and University of Houston - Department of Finance

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Reversals, overreaction, contrarian

29.

The 52-Week High and Momentum Investing

Journal of Finance, Vol. 59, No. 5, pp. 2145-2176
Posted: 10 Mar 2008
Chuan-Yang Hwang and Thomas J. George
Nanyang Business School, Nanyang Technological University and University of Houston - Department of Finance

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52-week high, momentum, return prediction

30.

Endogenous Market Statistics and Security Pricing: An Empirical Investigation

Journal of Financial Markets, Vol. 1, pp. 285-319, 1998
Posted: 09 Mar 2008
Chuan-Yang Hwang and Thomas J. George
Nanyang Business School, Nanyang Technological University and University of Houston - Department of Finance

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31.

Information Flow and Pricing Errors: A Unified Approach to Estimation and Testing

Review of Financial Studies, Vol. 14, pp. 979-1020, 2001
Posted: 13 Sep 2001 Last Revised: 06 Jul 2010
Chuan-Yang Hwang and Thomas J. George
Nanyang Business School, Nanyang Technological University and University of Houston - Department of Finance

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32.

Transitory Price Changes and Price-Limit Rules: Evidence from the Tokyo Stock Exchange

Journal of Financial and Quantitative Analysis (JFQA), Vol. 30, No. 2, June 1995
Posted: 10 Oct 1998 Last Revised: 12 Mar 2008
Thomas J. George and Chuan-Yang Hwang
University of Houston - Department of Finance and Nanyang Business School, Nanyang Technological University

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33.

Underwriter Analyst Recommendations: Conflict of Interest or Rush to Judgement

Posted: 25 Mar 1997
Craig G. Dunbar, Chuan-Yang Hwang and Kuldeep Shastri
Ivey Business School, Western University, Nanyang Business School, Nanyang Technological University and University of Pittsburgh - Finance Group

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Other Papers (1)

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1.

What Explains the Dispersion Effect? Evidence from Exogenous Variation in Institutional Ownership

Posted: 25 Jan 2018 Last Revised: 18 Jan 2020
Chuan-Yang Hwang, Kit Pong Wong and Long Yi
Nanyang Business School, Nanyang Technological University, University of Hong Kong and Shenzhen Audencia Financial Technology Institute

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Dispersion Effect, Analyst Self-Censoring, Short-Sale Constraint, Russell Index, Endogeneity