Xi Li

University of Arkansas - Department of Finance

Fayetteville, AR 72701

United States

  • University of Arkansas - Department of Finance

SCHOLARLY PAPERS

25

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CITATIONS
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Top 4,457

in Total Papers Citations

119

Scholarly Papers (25)

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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
University of Arkansas - Department of Finance, Hong Kong University of Science & Technology (HKUST) and Hong Kong University of Science & Technology (HKUST)
Downloads 2,387 (5,206)
Citation 1

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

2.

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
Xi Li, Rodney N Sullivan and Luis García-Feijóo
University of Arkansas - Department of Finance, AQR Capital Management, LLC and Florida Atlantic University - Department of Finance
Downloads 1,502 (11,296)
Citation 2

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low-volatility stocks, market, risk, mispricing

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
University of Arkansas - Department of Finance and University of New South Wales - Australian School of Business
Downloads 1,430 (12,220)
Citation 20

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4.

Real Earnings Management and Subsequent Stock Returns

Number of pages: 57 Posted: 21 Sep 2010 Last Revised: 18 Jun 2012
Xi Li
University of Arkansas - Department of Finance
Downloads 1,383 (12,925)
Citation 4

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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
Xi Li, Rodney N Sullivan and Luis García-Feijóo
University of Arkansas - Department of Finance, AQR Capital Management, LLC and Florida Atlantic University - Department of Finance
Downloads 1,350 (13,403)
Citation 4

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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 University of Arkansas - Department of Finance
Downloads 1,047 (19,749)
Citation 16

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

7.

Earnings-reducing Activities before Management Buyouts

Downloads 962 ( 22,380)

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
University of Arkansas - Department of Finance, Fanhai International School of Finance, Fudan University and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 938 (22,801)

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

Earnings-Reducing Activities Before Management Buyouts

Number of pages: 42 Posted: 09 Oct 2017
Xi Li, Jun Qian and Julie Zhu
University of Arkansas - Department of Finance, Fanhai International School of Finance, Fudan University and Fanhai International School of Finance(FISF), Fudan University
Downloads 24 (504,304)

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

8.

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

Downloads 961 ( 22,412)
Citation 22

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
University of Arkansas - Department of Finance
Downloads 847 (26,501)
Citation 22

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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
University of Arkansas - Department of Finance
Downloads 114 (238,915)
Citation 22

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

9.

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
University of Arkansas - Department of Finance
Downloads 877 (25,637)
Citation 7

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market efficiency, analyst characteristics, analyst compensatin, analyst behavior

10.

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
Larry Fauver, Mingyi Hung, Xi Li and Alvaro G. Taboada
University of Tennessee, Knoxville - Department of Finance, Hong Kong University of Science & Technology (HKUST), University of Arkansas - Department of Finance and Mississippi State University
Downloads 808 (28,752)

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cross-country study, firm value, board reforms

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
University of Arkansas - Department of Finance
Downloads 766 (30,960)
Citation 20

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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
University of Arkansas - Department of Finance and Division of Economic and Risk Analysis, Office of Markets
Downloads 659 (37,953)
Citation 5

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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
Mingyi Hung, Xi Li and Shiheng Wang
Hong Kong University of Science & Technology (HKUST), University of Arkansas - Department of Finance and Hong Kong University of Science & Technology (HKUST)
Downloads 638 (39,573)

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Post-Earnings-Announcement Drift, IFRS, Global

14.

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
Xi Li, Ying L. Becker and Didier Rosenfeld
University of Arkansas - Department of Finance, State Street Corporate - State Street Global Advisors and State Street Corporate - State Street Global Advisors
Downloads 577 (45,258)

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asset growth, future stock return, international

15.

What Makes the Bonding Stick? A Natural Experiment Testing the Legal Bonding Hypothesis

Journal of Financial Economics (JFE), Forthcoming, ECGI - Finance Working Paper No. 524/2017, Harvard Business School Strategy Unit Working Paper No. 11-072
Number of pages: 72 Posted: 24 Jan 2011 Last Revised: 08 Sep 2017
Amir N. Licht, Christopher Poliquin, Jordan I. Siegel and Xi Li
Interdisciplinary Center (IDC) Herzliyah - Radzyner School of Law, Harvard Business School, University of Michigan and University of Arkansas - Department of Finance
Downloads 559 (47,137)
Citation 8

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bonding, class actions, cross-listing, corporate governance, civil liability, reputation

16.

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
University of Arkansas - Department of Finance and University of New South Wales - Australian School of Business
Downloads 502 (53,998)
Citation 5

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

17.

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 Last Revised: 28 May 2017
Charles Hsu, Xi Li, Zhiming Ma and Gordon M. Phillips
Hong Kong University of Science & Technology, University of Arkansas - Department of Finance, Peking University and Dartmouth College - Tuck School of Business
Downloads 493 (55,260)

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Competition, Analysts, All-Star, Stock Analysts

18.

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

Number of pages: 63 Posted: 04 Dec 2014 Last Revised: 18 Jul 2016
Sudipto Dasgupta, Xi Li and Yan Albert Wang
Chinese University of Hong Kong, Lancaster University, and CEPR, University of Arkansas - Department of Finance and Auburn University
Downloads 435 (64,495)

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Product Market Competition; Forced CEO Turnover; Corporate Governance

19.

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
University of Arkansas - Department of Finance and AQR Capital Management, LLC
Downloads 435 (64,495)
Citation 2

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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

20.

Assessing Alternative Global Equity Investment Frameworks

Number of pages: 25 Posted: 27 Jan 2011
Xi Li
University of Arkansas - Department of Finance
Downloads 365 (79,431)
Citation 1

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

21.

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
Qiang Kang, Xi Li and Ronald W. Masulis
Florida International University (FIU) - Department of Finance, University of Arkansas - Department of Finance and University of New South Wales - Australian School of Business
Downloads 343 (85,355)
Citation 1

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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

22.

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
Xi Li, Rodney N Sullivan, Danielle Xu and Guodong Gao
University of Arkansas - Department of Finance, AQR Capital Management, LLC, Gonzaga University and Chicago Equity Partners
Downloads 317 (93,163)

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

23.

Sell-Side Financial Analysts and the CFA Designation Program

Financial Analysts Journal, Forthcoming
Number of pages: 30 Posted: 29 Aug 2012 Last Revised: 18 Oct 2018
Qiang Kang, Xi Li and Tie Su
Florida International University (FIU) - Department of Finance, University of Arkansas - Department of Finance and University of Miami - Department of Finance
Downloads 272 (109,951)

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Capital markets, CFA program, Analyst recommendation performance, Analyst career outcome, Occupational certification/licensing

24.

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
University of Arkansas - Department of Finance and AQR Capital Management, LLC
Downloads 268 (111,650)

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asset growth anomaly, asset pricing

25.

A Dynamic Future for Active Quant Investing

Journal of Portfolio Management 37 (3), 29-36, Spring 2011.
Posted: 22 Sep 2010 Last Revised: 24 Sep 2018
Rodney N Sullivan and Xi Li
AQR Capital Management, LLC and University of Arkansas - Department of Finance

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