Xi Li

Hong Kong University of Science & Technology (HKUST)

Clearwater Bay

Kowloon

Hong Kong

SCHOLARLY PAPERS

25

DOWNLOADS
Rank 1,210

SSRN RANKINGS

Top 1,210

in Total Papers Downloads

18,575

CITATIONS
Rank 4,425

SSRN RANKINGS

Top 4,425

in Total Papers Citations

120

Scholarly Papers (25)

1.

A Model of China's State Capitalism

Number of pages: 76 Posted: 20 May 2012 Last Revised: 15 Aug 2015
Xi Li, Xuewen Liu and Yong Wang
Hong Kong University of Science & Technology (HKUST), Hong Kong University of Science & Technology (HKUST) and Hong Kong University of Science & Technology (HKUST)
Downloads 1,997 (5,410)
Citation 1

Abstract:

State Capitalism, China Economy, Growth and Development, SOEs, Structural Change, International Trade, Sustainability

2.

A Dynamic Future for Active Quant Investing

Journal of Portfolio Management 37 (3), 29-36, Spring 2011.
Number of pages: 16 Posted: 22 Sep 2010 Last Revised: 19 Oct 2014
Rodney N Sullivan and Xi Li
AQR Capital Management and Hong Kong University of Science & Technology (HKUST)
Downloads 1,457 (8,224)
Citation 1

Abstract:

3.

Venture Capital Investments by IPO Underwriters: Certification, Alignment of Interest or Moral Hazard?

Number of pages: 44 Posted: 28 Jun 2004
Xi Li and Ronald W. Masulis
Hong Kong University of Science & Technology (HKUST) and University of New South Wales - Australian School of Business
Downloads 1,336 (10,130)
Citation 20

Abstract:

4.

Real Earnings Management and Subsequent Stock Returns

Number of pages: 57 Posted: 21 Sep 2010 Last Revised: 18 Jun 2012
Xi Li
Hong Kong University of Science & Technology (HKUST)
Downloads 1,009 (12,578)
Citation 4

Abstract:

Real Earnings Management, Stock Returns, Abnormal Production Costs

5.

The Limits to Arbitrage and the Low-Volatility Anomaly

Financial Analysts Journal 70 (1), 52-64, January/February 2014.
Number of pages: 31 Posted: 12 Jan 2011 Last Revised: 19 Oct 2014
Hong Kong University of Science & Technology (HKUST), AQR Capital Management and Florida Atlantic University - Department of Finance
Downloads 992 (12,152)
Citation 4

Abstract:

low-volatility, arbitrage

6.

Are Wall Street Analyst Rankings Popularity Contest?

Journal of Financial and Quantitative Analysis 44, 411-437, 2009.
Number of pages: 41 Posted: 17 Mar 2006 Last Revised: 19 Oct 2014
Douglas R. Emery and Xi Li
University of Miami - Department of Finance and Hong Kong University of Science & Technology (HKUST)
Downloads 987 (16,290)
Citation 16

Abstract:

analyst, all-star, All-American, Institutional Investor, Wall Street Journal, earnings forecasts, recommendation

7.

The Low-Volatility Anomaly: Market Evidence on Systematic Risk versus Mispricing

Financial Analysts Journal 72 (1), 36-47, January/February 2016
Number of pages: 32 Posted: 13 Jan 2011 Last Revised: 16 Jul 2016
Hong Kong University of Science & Technology (HKUST), AQR Capital Management and Florida Atlantic University - Department of Finance
Downloads 972 (11,511)
Citation 2

Abstract:

low-volatility stocks, market, risk, mispricing

An Examination of the Impact of the Sarbanes-Oxley Act on Cross-Listed Foreign Private Issuers and the Legal Bonding Hypothesis

2nd Annual Conference on Empirical Legal Studies Paper
Number of pages: 59 Posted: 20 Dec 2006 Last Revised: 14 Mar 2011
Xi Li
Hong Kong University of Science & Technology (HKUST)
Downloads 837 (21,523)
Citation 22

Abstract:

Sarbanes-Oxley, foreign private issuer, deregistration, corporate governance, law and finance, cross-listing, ADR

The Sarbanes-Oxley Act and Cross-Listed Foreign Private Issuers

Journal of Accounting & Economics (JAE), Vol. 58, No. 1, 21-40, 2014
Number of pages: 45 Posted: 22 Mar 2007 Last Revised: 14 Jul 2014
Xi Li
Hong Kong University of Science & Technology (HKUST)
Downloads 98 (223,014)
Citation 22

Abstract:

Sarbanes-Oxley, Foreign private issuer, Deregistration, Corporate governance, Law and finance, Cross-listing, ADR

9.

Earnings-reducing Activities before Management Buyouts

Number of pages: 42 Posted: 17 Mar 2012 Last Revised: 22 Aug 2013
Xi Li, Jun Qian and Julie Lei Zhu
Hong Kong University of Science & Technology (HKUST), Shanghai Advanced Institute of Finance(SAIF), Shanghai Jiao Tong University and Boston University - School of Management
Downloads 895 (19,881)

Abstract:

Management buyout, discretionary expenses, asset sales, accruals, stock return

10.

Performance, Herding, and Career Concerns of Individual Financial Analysts

EFA 2002 Berlin Meetings Discussion Paper
Number of pages: 52 Posted: 22 Mar 2002
Xi Li
Hong Kong University of Science & Technology (HKUST)
Downloads 812 (21,665)
Citation 7

Abstract:

market efficiency, analyst characteristics, analyst compensatin, analyst behavior

11.

The Persistence of Relative Performance in Stock Recommendations of Sell-Side Financial Analysts

Journal of Accounting and Economics 40, 129-152, 2005.
Number of pages: 33 Posted: 07 May 2005 Last Revised: 19 Oct 2014
Xi Li
Hong Kong University of Science & Technology (HKUST)
Downloads 739 (25,400)
Citation 20

Abstract:

Capital markets, analyst recommendations, performance persistence

12.

Information Leakage and Opportunistic Behavior Before Analyst Recommendations: An Analysis of the Quoting Behavior of Nasdaq Market Makers

AFA 2004 San Diego Meetings
Number of pages: 47 Posted: 21 Aug 2003
Xi Li and Hans G. Heidle
Hong Kong University of Science & Technology (HKUST) and Division of Economic and Risk Analysis, Office of Markets
Downloads 608 (32,401)
Citation 5

Abstract:

market microstructure, quoting behavior, analyst recommendation revisions, conflicts of interest, information leakage

13.

Post-Earnings-Announcement Drift in Global Markets: Evidence from an Information Shock

Review of Financial Studies 28, 1242-1283. 2015
Number of pages: 52 Posted: 24 May 2013 Last Revised: 09 Jun 2015
Hong Kong University of Science & Technology (HKUST), Hong Kong University of Science & Technology (HKUST) and Hong Kong University of Science & Technology (HKUST)
Downloads 513 (42,796)

Abstract:

Post-Earnings-Announcement Drift, IFRS, Global

14.

How Do Venture Investments by Different Classes of Financial Institutions Affect the Equity Underwriting Process?

Number of pages: 51 Posted: 21 Mar 2008 Last Revised: 18 Sep 2008
Xi Li and Ronald W. Masulis
Hong Kong University of Science & Technology (HKUST) and University of New South Wales - Australian School of Business
Downloads 464 (45,913)
Citation 5

Abstract:

IPO, Underpricing of Stock Offers, Venture Capital, Financial Institutions, Certification Hypothesis, Conflict of Interest, Underwriting

15.

Asset Growth and Future Stock Returns: International Evidence

Financial Analysts Journal 68 (3), 51-62, May/June, 2012.
Number of pages: 24 Posted: 17 Feb 2011 Last Revised: 19 Oct 2014
Hong Kong University of Science & Technology (HKUST), State Street Corporate - State Street Global Advisors and State Street Corporate - State Street Global Advisors
Downloads 440 (41,048)

Abstract:

asset growth, future stock return, international

16.

What Makes the Bonding Stick? A Natural Experiment Involving the U.S. Supreme Court and Cross-Listed Firms

Harvard Business School Strategy Unit Working Paper No. 11-072
Number of pages: 69 Posted: 24 Jan 2011 Last Revised: 27 Aug 2013
Interdisciplinary Center (IDC) Herzliyah - Radzyner School of Law, Harvard Business School, University of Michigan and Hong Kong University of Science & Technology (HKUST)
Downloads 405 (57,396)
Citation 8

Abstract:

bonding, enforcement, reputation, cross-listing, corporate governance, civil liability

17.

The Limits to Arbitrage Revisited: The Accrual and Asset Growth Anomalies

Financial Analysts Journal 67 (4-5), 50-66, July/August, 2011
Number of pages: 34 Posted: 09 Aug 2011 Last Revised: 19 Oct 2014
Xi Li and Rodney N Sullivan
Hong Kong University of Science & Technology (HKUST) and AQR Capital Management
Downloads 397 (55,876)
Citation 2

Abstract:

Behavioral Finance, Limits to Arbitrage, Equity Investments, Equity Market Valuation and Return Analysis, Risk Management, Portfolio Risk Management, Risk Management Strategies, Portfolio Management, Risk Management, Equity Portfolio Management Strategies, Active Management

18.

Assessing Alternative Global Equity Investment Frameworks

Number of pages: 25 Posted: 27 Jan 2011
Xi Li
Hong Kong University of Science & Technology (HKUST)
Downloads 341 (68,033)
Citation 1

Abstract:

global equity, investment framework, geographic, region, country, sector, industry, portfolio constructure, alpha generation, risk management, stock selection, asset allocation

19.

Equity Ownership in IPO Issuers by Brokerage Firms and Analyst Research Coverage

Number of pages: 57 Posted: 25 Mar 2008 Last Revised: 15 Jul 2016
Florida International University (FIU) - Department of Finance, Hong Kong University of Science & Technology (HKUST) and University of New South Wales - Australian School of Business
Downloads 326 (74,054)
Citation 1

Abstract:

sell-side analysts, analyst stock recommendations, IPOs, asymmetric information, conflicts of interest, venture capital investment, brokerage firms, reputation incentives, equity ownership, universal banking, financial institutions

20.

Board Reforms and Firm Value: Worldwide Evidence

Journal of Financial Economics (JFE), Forthcoming, HKUST IEMS Working Paper No. 2015-20
Number of pages: 58 Posted: 19 May 2015 Last Revised: 15 Jul 2016
University of Tennessee, Knoxville - Department of Finance, Hong Kong University of Science & Technology (HKUST), Hong Kong University of Science & Technology (HKUST) and Mississippi State University
Downloads 297 (46,158)

Abstract:

cross-country study, firm value, board reforms

21.

Sell-Side Analysts and Gender: A Comparison of Performance, Behavior, and Career Outcomes

Financial Analysts Journal 69 (2), 83-94, March/April 2013.
Number of pages: 28 Posted: 18 Mar 2011 Last Revised: 19 Oct 2014
Hong Kong University of Science & Technology (HKUST), AQR Capital Management, Gonzaga University and Chicago Equity Partners
Downloads 291 (84,143)

Abstract:

gender, sell-side analyst, investment recommendations, performance, behavior, career outcomes

22.

Investing in the Asset Growth Anomaly Across the Globe

Journal of Investment Management 13, 1-21, 2015
Number of pages: 33 Posted: 10 May 2014 Last Revised: 16 Jul 2016
Xi Li and Rodney N Sullivan
Hong Kong University of Science & Technology (HKUST) and AQR Capital Management
Downloads 203 (102,636)

Abstract:

asset growth anomaly, asset pricing

23.

CFA Certification Program and Sell-Side Analysts

Number of pages: 48 Posted: 29 Aug 2012
Qiang Kang, Xi Li and Tie Su
Florida International University (FIU) - Department of Finance, Hong Kong University of Science & Technology (HKUST) and University of Miami - Department of Finance
Downloads 193 (110,456)

Abstract:

Capital Markets, CFA, Analyst

24.

Product Market Competition Shocks, Firm Performance, and Forced CEO Turnover

Number of pages: 63 Posted: 04 Dec 2014 Last Revised: 18 Jul 2016
Hong Kong University of Science & Technology (HKUST) - Department of Finance, Hong Kong University of Science & Technology (HKUST) and Auburn University
Downloads 115 (102,175)

Abstract:

Product Market Competition; Forced CEO Turnover; Corporate Governance

25.

Does Product Market Competition Influence Analyst Coverage and Analyst Career Success?

Tuck School of Business Working Paper No. 2698331
Number of pages: 58 Posted: 06 Dec 2015
Hong Kong University of Science & Technology, Hong Kong University of Science & Technology (HKUST), Peking University and Tuck School of Business at Dartmouth
Downloads 315

Abstract:

Competition, Analysts, All-Star, Stock Analysts