Bing Han

University of Toronto, Rotman School of Management

Professor of Finance

Toronto, Ontario M5S 3E6

Canada

  • University of Toronto, Rotman School of Management

SCHOLARLY PAPERS

39

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SSRN CITATIONS
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620

CROSSREF CITATIONS

135

Scholarly Papers (39)

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1.

Prospect Theory, Mental Accounting, and Momentum

Number of pages: 38 Posted: 09 Nov 2001
Bing Han and Mark Grinblatt
University of Toronto, Rotman School of Management and University of California, Los Angeles (UCLA) - Finance Area
Downloads 5,981 (2,224)
Citation 133

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prospect theory, mental accounting, disposition effect, momentum

2.

Option Return Predictability

Review of Financial Studies, Vol. 35, 2022, 27th Annual Conference on Financial Economics and Accounting Paper, Rotman School of Management Working Paper No. 2698267
Number of pages: 78 Posted: 06 Dec 2015 Last Revised: 01 Mar 2022
Xintong Zhan, Bing Han, Jie Cao and Qing Tong
Department of Finance, School of Management, Fudan University, University of Toronto, Rotman School of Management, The Hong Kong Polytechnic University - School of Accounting and Finance and Shanghai LiLi Technology Co.,Ltd.
Downloads 4,239 (4,025)
Citation 32

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Cross-section of equity options; delta-hedged options; return predictability; stock characteristics; option factor model

3.

Cross-Section of Option Returns and Idiosyncratic Stock Volatility

AFA 2012 Chicago Meetings Paper, Journal of Financial Economics (JFE), Vol. 108, No. 1, 2013, McCombs Research Paper Series No. FIN-15-09
Number of pages: 48 Posted: 17 Mar 2011 Last Revised: 27 Nov 2016
Jie Cao and Bing Han
The Hong Kong Polytechnic University - School of Accounting and Finance and University of Toronto, Rotman School of Management
Downloads 2,812 (7,907)
Citation 59

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Option return; Idiosyncratic volatility; Market imperfections; Limits to arbitrage

4.

Term Structure of Credit Default Swap Spreads and Cross-Section of Stock Returns

McCombs Research Paper Series No. FIN-01-11, AFA 2012 Chicago Meetings Paper
Number of pages: 43 Posted: 07 Jan 2011 Last Revised: 18 Jun 2011
Bing Han and Yi Zhou
University of Toronto, Rotman School of Management and San Francisco State University
Downloads 1,679 (17,849)
Citation 21

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credit default swap, term structure, cross-section of stock return, default risk premium, slow information diffusion

5.

Investor Sentiment and Option Prices

Downloads 1,463 (22,034)

Investor Sentiment and Option Prices

Dice Center Working Paper No. 2004-2, AFA 2006 Boston Meetings
Number of pages: 34 Posted: 19 Mar 2005
Bing Han
University of Toronto, Rotman School of Management
Downloads 1,463 (21,633)
Citation 25

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sentiment, pricing kernel, skewness, limits to arbitrage, index option smile

Investor Sentiment and Option Prices

The Review of Financial Studies, Vol. 21, No. 1, pp. 387-414, 2008
Posted: 26 Jun 2008
Bing Han
University of Toronto, Rotman School of Management

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G12, G13, G14

6.

Information Content of Aggregate Implied Volatility Spread

Rotman School of Management Working Paper No. 3047528, Management Science
Number of pages: 59 Posted: 04 Oct 2017 Last Revised: 11 Jun 2023
Bing Han and Gang Li
University of Toronto, Rotman School of Management and The Chinese University of Hong Kong, CUHK Business School
Downloads 1,313 (25,854)
Citation 3

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stock return predictability, implied volatility spread, macroeconomic forecasts, informed trading in options, limits to arbitrage

7.

Sentiment Trading and Hedge Fund Returns

Journal of Finance, Vol. 76, No. 4, August 2021, pp. 2001–2033
Number of pages: 66 Posted: 14 Jan 2016 Last Revised: 20 Jul 2021
Yong Chen, Bing Han and Jing Pan
Texas A&M University - Department of Finance, University of Toronto, Rotman School of Management and Pennsylvania State University - Department of Accounting
Downloads 1,267 (27,222)
Citation 7

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Hedge funds, investor sentiment, sentiment beta, sentiment timing

8.

Investor Overconfidence and the Forward Premium Puzzle

Downloads 1,240 (28,108)
Citation 22

Investor Overconfidence and the Forward Premium Puzzle

Number of pages: 58 Posted: 27 Mar 2008 Last Revised: 31 Mar 2010
A. Craig Burnside, Bing Han, David A. Hirshleifer and Tracy Yue Wang
Duke University - Department of Economics, University of Toronto, Rotman School of Management, Marshall School of Business, USC and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 918 (42,524)
Citation 1

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investor overconfidence, forward discount puzzle, inflation differential, exchange rate overshooting, market efficiency, Purchasing Power Parity

Investor Overconfidence and the Forward Premium Puzzle

Economic Research Initiatives at Duke (ERID) Working Paper No. 47, McCombs Research Paper Series No. FIN-03-10
Number of pages: 61 Posted: 27 Apr 2010 Last Revised: 08 Oct 2010
A. Craig Burnside, Bing Han, David A. Hirshleifer and Tracy Yue Wang
Duke University - Department of Economics, University of Toronto, Rotman School of Management, Marshall School of Business, USC and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 251 (201,625)
Citation 15

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Investor Overconfidence and the Forward Premium Puzzle

NBER Working Paper No. w15866
Number of pages: 61 Posted: 05 Apr 2010 Last Revised: 10 May 2023
A. Craig Burnside, Bing Han, David A. Hirshleifer and Tracy Yue Wang
Duke University - Department of Economics, University of Toronto, Rotman School of Management, Marshall School of Business, USC and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 71 (542,661)

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9.

Social Networks, Information Acquisition, and Asset Prices

Management Science, 2013, 59(6), 1444-1457
Number of pages: 43 Posted: 18 Mar 2011 Last Revised: 21 Jun 2016
Bing Han and Liyan Yang
University of Toronto, Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 1,222 (28,725)
Citation 20

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social communication, price informativeness, information acquisition, asset prices, liquidity, volume, welfare

10.

Speculative Retail Trading and Asset Prices

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 52 Posted: 02 Apr 2009 Last Revised: 20 Apr 2012
Bing Han and Alok Kumar
University of Toronto, Rotman School of Management and University of Miami - Miami Herbert Business School
Downloads 1,068 (34,821)
Citation 93

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11.

Institutional Investment Constraints and Stock Prices

Journal of Financial and Quantitative Analysis (JFQA), Vol. 52, 2017, Dice Center Working Paper No. 2004-24
Number of pages: 60 Posted: 08 Dec 2004 Last Revised: 04 May 2017
Jie Cao, Bing Han and Qinghai Wang
The Hong Kong Polytechnic University - School of Accounting and Finance, University of Toronto, Rotman School of Management and University of Central Florida - College of Business Administration
Downloads 1,036 (36,367)
Citation 10

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Institutional investors, investment constraints, market efficiency, momentum, tracking-error constraints, relative performance evaluation

12.

Investor Trading Behavior and Performances: Evidence from Taiwan Stock Index Options

McCombs Research Paper Series No. FIN-06-09
Number of pages: 41 Posted: 16 Feb 2009 Last Revised: 27 May 2010
Bing Han, Yi-Tsung Lee and Yu-Jane Liu
University of Toronto, Rotman School of Management, Peking University - Guanghua School of Management and National Chengchi University (NCCU) - Department of Finance and Banking
Downloads 819 (50,507)

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investor behavior, trading performance, index options

13.

The Disposition Effect and Momentum

NBER Working Paper No. w8734
Number of pages: 45 Posted: 24 Jan 2002 Last Revised: 15 May 2022
Bing Han and Mark Grinblatt
University of Toronto, Rotman School of Management and University of California, Los Angeles (UCLA) - Finance Area
Downloads 782 (53,697)
Citation 1

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14.

Idiosyncratic Risk, Costly Arbitrage, and the Cross-Section of Stock Returns

Journal of Banking and Finance (JBF), Vol. 73, 2016
Number of pages: 42 Posted: 30 Oct 2008 Last Revised: 28 Nov 2016
Jie Cao and Bing Han
The Hong Kong Polytechnic University - School of Accounting and Finance and University of Toronto, Rotman School of Management
Downloads 742 (57,599)
Citation 11

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Costly arbitrage; Idiosyncratic risk; Mispricing

15.

Insider Ownership and Firm Value: Evidences from Real Estate Investment Trusts

Downloads 740 (57,824)

Insider Ownership and Firm Value: Evidences from Real Estate Investment Trusts

Dice Center Working Paper No. 2004-1
Number of pages: 33 Posted: 03 Mar 2004
Bing Han
University of Toronto, Rotman School of Management
Downloads 740 (57,002)
Citation 23

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insiderer ownersip, firm value, REIT, UPREIT, tax, conflicts of interests , capital gains tax lock-in

Insider Ownership and Firm Value: Evidences from Real Estate Investment Trusts

Journal of Real Estate Finance and Economics, Vol. 32, No. 4, 2006
Posted: 13 Oct 2005
Bing Han
University of Toronto, Rotman School of Management

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REITs, UPREITs, ownership structure, firm value, tax, conflict of interests

16.

Understanding the Term Structure of Credit Default Swap Spreads

Midwest Finance Association 2013 Annual Meeting Paper
Number of pages: 44 Posted: 18 Sep 2012 Last Revised: 22 Jan 2013
Bing Han and Yi Zhou
University of Toronto, Rotman School of Management and San Francisco State University
Downloads 659 (67,260)
Citation 4

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term structure, credit default swap, credit risk, structural models

17.

The Term Structure of Credit Spreads and the Cross-Section of Stock Returns

Journal of Financial Economics (JFE), Forthcoming, Rotman School of Management Working Paper No. 2560693
Number of pages: 49 Posted: 06 Feb 2015 Last Revised: 27 Apr 2016
Bing Han, Avanidhar Subrahmanyam and Yi Zhou
University of Toronto, Rotman School of Management, University of California, Los Angeles (UCLA) - Finance Area and San Francisco State University
Downloads 626 (71,779)
Citation 1

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cross-section of stock return, credit spreads, term structure, slow information diffusion, limited attention, default risk premium

18.

Stochastic Volatilities and Correlations of Bond Yields

Dice Center Working Paper No. 2003-27
Number of pages: 42 Posted: 04 Jan 2004
Bing Han
University of Toronto, Rotman School of Management
Downloads 622 (72,387)
Citation 18

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Stochastic volatility, stochastic correlation, unspanned volatility, string model, relative valuation of swaptions and caps

19.

Self-Enhancing Transmission Bias and Active Investing

Number of pages: 57 Posted: 02 Apr 2012 Last Revised: 05 Jun 2015
Bing Han and David A. Hirshleifer
University of Toronto, Rotman School of Management and Marshall School of Business, USC
Downloads 610 (74,155)
Citation 21

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social interactions, self-enhancement, active investing, behavioral finance, behavioral economics, social networks, cultural evolution

20.

Fear of the Unknown: Familiarity and Economic Decisions

Number of pages: 48 Posted: 10 May 2007 Last Revised: 16 Sep 2009
H. Henry Cao, Bing Han, Harold H. Zhang and David A. Hirshleifer
University of North Carolina (UNC) at Chapel Hill - Finance Area, University of Toronto, Rotman School of Management, University of Texas at Dallas - Naveen Jindal School of Management and Marshall School of Business, USC
Downloads 604 (75,074)
Citation 41

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familiarity, model uncertainty, status quo, home bias, diversification, inertia

21.

Idiosyncratic Volatility and the ICAPM Covariance Risk

Number of pages: 52 Posted: 17 Nov 2019 Last Revised: 11 Jun 2023
Bing Han and Gang Li
University of Toronto, Rotman School of Management and The Chinese University of Hong Kong, CUHK Business School
Downloads 594 (76,694)

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idiosyncratic volatility, conditional covariance risk, tail risk, time-series return predictability, intertemporal capital asset pricing model

22.

Forecast Accuracy Uncertainty and Momentum

EFA 2006 Zurich Meetings
Number of pages: 31 Posted: 22 May 2006 Last Revised: 13 Nov 2013
Bing Han, Dong Hong and Mitch Warachka
University of Toronto, Rotman School of Management, Singapore Management University - Lee Kong Chian School of Business and Chapman University - The George L. Argyros School of Business & Economics
Downloads 530 (88,372)

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Forecast Accuracy, Uncertainty, Momentum, Bounded Rationality, Appearance of Behavioral Biases

23.

Do Analysts Gain an Informational Advantage by Visiting Listed Companies?

Contemporary Accounting Research, Forthcoming
Number of pages: 43 Posted: 21 Aug 2017
Bing Han, Dongmin Kong and Shasha Liu
University of Toronto, Rotman School of Management, School of Economics, Huazhong University of Science and Technology and School of Management, Jinan University
Downloads 436 (111,730)
Citation 25

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Analyst Visit, Forecast Accuracy, Informational Advantage; Geography

24.

Visibility Bias in the Transmission of Consumption Beliefs and Undersaving

Downloads 384 (129,359)
Citation 9

Visibility Bias in the Transmission of Consumption Beliefs and Undersaving

Rotman School of Management Working Paper No. 2798638
Number of pages: 70 Posted: 23 Jun 2016 Last Revised: 29 Dec 2021
Bing Han, David A. Hirshleifer and Johan Walden
University of Toronto, Rotman School of Management, Marshall School of Business, USC and University of California, Berkeley - Finance Group
Downloads 329 (152,130)
Citation 4

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visibility bias, overconsumption, saving, behavioral economics, social influence, social learning

Visibility Bias in the Transmission of Consumption Beliefs and Undersaving

NBER Working Paper No. w25566
Number of pages: 71 Posted: 19 Feb 2019 Last Revised: 12 Jun 2023
Bing Han, David A. Hirshleifer and Johan Walden
University of Toronto, Rotman School of Management, Marshall School of Business, USC and University of California, Berkeley - Finance Group
Downloads 55 (620,099)
Citation 4

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25.

Option Price Implied Information and REIT Returns

Rotman School of Management Working Paper No. 3788744, Journal of Empirical Finance, Forthcoming
Number of pages: 50 Posted: 23 Feb 2021 Last Revised: 13 Jan 2023
Jie Cao, Bing Han, Linjia Song and Xintong Zhan
The Hong Kong Polytechnic University - School of Accounting and Finance, University of Toronto, Rotman School of Management, School of Management, Xiamen University and Department of Finance, School of Management, Fudan University
Downloads 367 (136,484)

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informed trading in options; stock return predictability; real estate investment trusts

26.

Cross-Border Equity Flows and Information Transmission: Evidence from Chinese Stock Markets

Number of pages: 57 Posted: 20 Apr 2020 Last Revised: 23 Mar 2022
Jiangze Bian, Kalok Chan, Bing Han and Donghui Shi
University of International Business and Economics (UIBE), CUHK Business School, University of Toronto, Rotman School of Management and Shanghai Stock Exchange
Downloads 367 (136,052)

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Market Integration, Cross-Border Equity Flows, Information Transmission, Shanghai -Hong Kong Stock Connect

27.

Does Disclosure Improve Efficiency?

Number of pages: 40 Posted: 15 Mar 2012 Last Revised: 12 Sep 2014
Bing Han, Yu-Jane Liu, Ya Tang and Lifeng Yu
University of Toronto, Rotman School of Management, National Chengchi University (NCCU) - Department of Finance and Banking, Peking University - Guanghua School of Management and Peking University - Guanghua School of Management
Downloads 361 (138,604)

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Noise Trading, Disclosure, Informational Efficiency, Allocative Efficiency, Informational Feedback Effect

28.

Social Transmission Bias and Investor Behavior

Forthcoming Journal of Financial and Quantitative Analysis
Number of pages: 42 Posted: 22 Sep 2015 Last Revised: 29 Jul 2020
Bing Han, David A. Hirshleifer and Johan Walden
University of Toronto, Rotman School of Management, Marshall School of Business, USC and University of California, Berkeley - Finance Group
Downloads 344 (146,080)
Citation 12

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social interaction, transmission bias, active investing, networks, thought contagion, behavioral finance

29.

Promotion Tournaments and Capital Rationing

Downloads 318 (158,859)

Promotion Tournaments and Capital Rationing

Review of Financial Studies, Forthcoming , Dice Center Working Paper No. 2005-20
Number of pages: 47 Posted: 16 Nov 2005 Last Revised: 19 Oct 2008
Bing Han, David A. Hirshleifer and John C. Persons
University of Toronto, Rotman School of Management, Marshall School of Business, USC and Independent
Downloads 318 (157,833)
Citation 1

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promotion, tournaments, capital rationing, conglomerate, career concerns, managerial overconfidence

Promotion Tournaments and Capital Rationing

The Review of Financial Studies, Vol. 22, No. 1, pp. 219-255, 2009
Posted: 03 Jan 2009
Bing Han, David A. Hirshleifer and John C. Persons
University of Toronto, Rotman School of Management, Marshall School of Business, USC and Independent

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G30, G31, G39

30.

Two Trees with Heterogeneous Beliefs: Spillover Effect of Disagreement

Rotman School of Management Working Paper No. 2493831
Number of pages: 47 Posted: 11 Sep 2014 Last Revised: 19 Nov 2017
Bing Han, Lei Lu and Yi Zhou
University of Toronto, Rotman School of Management, University of Manitoba and San Francisco State University
Downloads 268 (189,670)
Citation 3

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Heterogeneous beliefs, disagreements; spillover effect; peer effect; expected return; volatility

31.

Taking the Road Less Traveled by: Does Conversation Eradicate Pernicious Cascades?

Merage School of Business Working Paper, University of California, Irvine
Number of pages: 28 Posted: 22 Aug 2003 Last Revised: 31 Jul 2018
H. Henry Cao, Bing Han and David A. Hirshleifer
University of North Carolina (UNC) at Chapel Hill - Finance Area, University of Toronto, Rotman School of Management and Marshall School of Business, USC
Downloads 257 (197,759)
Citation 7

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information cascades, herding, conversation, imitation, information externality

32.

Social Transmission Bias and Active Investing

HKUST Finance Symposium 2016: Active Investing and Arbitrage Capital, Rotman School of Management Working Paper No. 2897801
Number of pages: 59 Posted: 11 Jan 2017
Bing Han and David A. Hirshleifer
University of Toronto, Rotman School of Management and Marshall School of Business, USC
Downloads 251 (202,465)

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capital markets, active investing, thought contagion, transmission bias, behavioral contagion, social in uence, behavioral nance, sending schedule, receiving schedule, popular models, memes

33.

Housing Price and Fundamentals in a Transition Economy: The Case of the Beijing Market

Downloads 220 (229,913)
Citation 4

Housing Price and Fundamentals in a Transition Economy: The Case of the Beijing Market

Rotman School of Management Working Paper No. 2664817
Number of pages: 69 Posted: 25 Sep 2015 Last Revised: 26 Mar 2017
Bing Han, Lu Han and Guozhong Zhu
University of Toronto, Rotman School of Management, University of Toronto - Rotman School of Management and University of Alberta - Alberta School of Business
Downloads 193 (258,784)
Citation 4

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housing price, fundamentals, transition economy, dynamic equilibrium, life-cycle overlapping generations model

Housing Price and Fundamentals in a Transition Economy: The Case of the Beijing Market

Number of pages: 76 Posted: 18 Feb 2023
Bing Han, Lu Han and Guozhong Zhu
University of Toronto, Rotman School of Management, University of Toronto - Rotman School of Management and University of Alberta - Department of Marketing, Business Economics & Law
Downloads 27 (813,317)

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housing price, fundamentals, transition economy, dynamic equilibrium, life-cycle overlapping generations model

34.

Institutional Investors and Equity Prices: Information, Behavioral Bias, and Arbitrage

Rotman School of Management Working Paper No. 2926401
Number of pages: 54 Posted: 06 Mar 2017
Bing Han and Dongmin Kong
University of Toronto, Rotman School of Management and School of Economics, Huazhong University of Science and Technology
Downloads 215 (234,868)
Citation 1

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Institutional/Individual Investors, Chinese stock market, Split–share Reform, Disposition Effect, Arbitrage

35.

Social Transmission Bias and Investor Behavior

NBER Working Paper No. w24281
Number of pages: 43 Posted: 05 Feb 2018 Last Revised: 07 May 2023
Bing Han, David A. Hirshleifer and Johan Walden
University of Toronto, Rotman School of Management, Marshall School of Business, USC and University of California, Berkeley - Finance Group
Downloads 213 (236,940)
Citation 50

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36.

Housing Market and Entrepreneurship: Micro Evidence from China

Number of pages: 35 Posted: 25 Aug 2020
Bing Han, Lu Han and Zhengyi Zhou
University of Toronto, Rotman School of Management, University of Toronto - Rotman School of Management and Shanghai University of Finance and Economics
Downloads 130 (360,111)

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Entrepreneurship; Housing Market; Extrapolative Belief

37.

Where Does Money Flow? A Tale of Two Manager Abilities and The Role of Market Volatility

Number of pages: 68 Posted: 27 Apr 2022 Last Revised: 14 Jun 2022
Bing Han, Yangyi Liu and Ronghua Luo
University of Toronto, Rotman School of Management, Southwestern University of Finance and Economics (SWUFE) - School of Finance and Southwestern University of Finance and Economics (SWUFE)
Downloads 124 (372,997)

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Fund manager abilities, Market volatility, Fund flows, Investor sophistication

38.

Informed Bank Debt

Midwest Finance Association Meetings; American Economic Association Meetings;
Posted: 22 Apr 2020 Last Revised: 17 Aug 2023
Olivia Gu and Bing Han
University of Illinois at Urbana-Champaign and University of Toronto, Rotman School of Management

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Bank loan, nonpublic information, firm performance, stock returns, analyst forecast, relationship lending

39.

Estimating the Negative Impact of 'Noise' on the Returns of Cap-Weighted Portfolios in Various Segments of the Equity Markets

Journal of Investment Management (JOIM), Third Quarter 2012
Posted: 13 Oct 2012
Russell J. Fuller, Bing Han and Yining Tung
affiliation not provided to SSRN, University of Toronto, Rotman School of Management and affiliation not provided to SSRN

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Market efficiency, fair game efficiency, valuation efficiency, cap-weighted portfolios, negative impact of noise, crosssectional dispersion of returns, Capital market theory