Hai Lu

University of Toronto - Rotman School of Management

Professor of Accounting

105 St. George Street

Toronto, Ontario M5S 3E6 M5S1S4

Canada

SCHOLARLY PAPERS

26

DOWNLOADS
Rank 3,003

SSRN RANKINGS

Top 3,003

in Total Papers Downloads

13,395

SSRN CITATIONS
Rank 4,671

SSRN RANKINGS

Top 4,671

in Total Papers Citations

114

CROSSREF CITATIONS

153

Scholarly Papers (26)

1.

The Wealth Change and Redistribution Effects of Sarbanes-Oxley Internal Control Disclosures

Number of pages: 36 Posted: 25 Apr 2005
Tulane University - A.B. Freeman School of Business, City University of Hong Kong - College of Business and University of Toronto - Rotman School of Management
Downloads 1,861 (9,485)
Citation 43

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Internal Control, Sarbanes-Oxley Act, trading volume, corporate disclosure

2.
Downloads 1,683 ( 11,107)
Citation 27

Do Short Sellers Front-Run Insider Sales?

MIT Sloan Research Paper No. 4706-08
Number of pages: 47 Posted: 05 Jun 2008 Last Revised: 13 Jan 2016
Mozaffar Khan and Hai Lu
Causeway Capital Management, LLC and University of Toronto - Rotman School of Management
Downloads 1,389 (14,753)
Citation 5

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Short Selling, Insider Sales, Front Running, Information Leakage

Do Short Sellers Front-Run Insider Sales?

Accounting Review, 2013, Rotman School of Management Working Paper No. 2226710
Number of pages: 47 Posted: 02 Mar 2013
Mozaffar Khan and Hai Lu
Causeway Capital Management, LLC and University of Toronto - Rotman School of Management
Downloads 294 (115,220)
Citation 7

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Short Selling, Insider Sales, Front Running, Information Leakage

3.
Downloads 1,381 ( 15,189)
Citation 38

The Benefits of Specific Risk-Factor Disclosures

Rotman School of Management Working Paper No. 2457045, Singapore Management University School of Accountancy Research Paper No. 2015-35
Number of pages: 58 Posted: 22 Jun 2014 Last Revised: 26 Feb 2016
University of Toronto - Rotman School of Management, Northwestern University - Kellogg School of Management and University of Toronto - Rotman School of Management
Downloads 872 (29,550)
Citation 1

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Risk-Factor Disclosure, Specificity, Market Reactions, Trading Volume Reactions, Analyst Risk Assessments, Scenario Analysis

The Benefits of Specific Risk-Factor Disclosures

Review of Accounting Studies, Forthcoming, Singapore Management University School of Accountancy Research Paper No. 2016-49
Number of pages: 60 Posted: 19 Mar 2016 Last Revised: 07 Dec 2016
University of Toronto - Rotman School of Management, Northwestern University - Kellogg School of Management and University of Toronto - Rotman School of Management
Downloads 509 (60,575)
Citation 31

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Risk-Factor Disclosure, Specificity, Market Reactions, Trading Volume Reactions, Analyst Risk Assessments, Scenario Analysis

Accounting Quality, Stock Price Delay and Future Stock Returns

Number of pages: 50 Posted: 11 Jun 2009 Last Revised: 13 Jan 2016
University of Toronto - Rotman School of Management, Causeway Capital Management, LLC and University of Toronto - Rotman School of Management
Downloads 1,359 (15,251)
Citation 7

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Accounting Quality, Market Frictions, Stock Price Delay, Expected Returns

Accounting Quality, Stock Price Delay and Future Stock Returns

Contemporary Accounting Research, Forthcoming
Posted: 25 Nov 2011 Last Revised: 13 Jan 2016
University of Toronto - Rotman School of Management, Causeway Capital Management, LLC and University of Toronto - Rotman School of Management

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Accounting Quality, Stock Price Delay, Stock Returns, Asset Pricing

5.

Direct and Indirect Effects of Internal Control Weaknesses on Accrual Quality: Evidence from a Unique Canadian Regulatory Setting

Contemporary Accounting Research, Forthcoming
Number of pages: 53 Posted: 08 Apr 2009 Last Revised: 13 Jan 2016
University of Toronto - Rotman School of Management, University of Toronto - Rotman School of Management and Queen's University - Smith School of Business
Downloads 979 (25,431)
Citation 2

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Sarbanes-Oxley, Internal control, Accrual quality, Material weakness

6.

Investor Sentiment, Disagreement, and Breadth-Return Relationship

Management Science, 2013, 59(5), 1076-1091
Number of pages: 58 Posted: 22 Jan 2011 Last Revised: 06 Jun 2013
Ling Cen, Hai Lu and Liyan Yang
The Chinese University of Hong Kong, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 683 (41,906)
Citation 4

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investor sentiment, disagreement, breadth of ownership, cross-sectional stock returns

7.

Do Earnings Explain the January Effect?

Number of pages: 29 Posted: 21 Dec 2003
Qingzhong Ma and Hai Lu
University of Southern California - Marshall School of Business and University of Toronto - Rotman School of Management
Downloads 530 (58,216)
Citation 1

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January effect, return anomaly, seasonality, earnings

8.

Rational Information Leakage

Management Science, 2014, 60(11): 2762-2775
Number of pages: 34 Posted: 25 Aug 2011 Last Revised: 26 Feb 2016
University of Michigan at Ann Arbor - Accounting, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 479 (66,045)
Citation 5

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Information leakage, insider trading, securities regulations

9.

Price Shocks, News Disclosures, and Asymmetric Drifts

Accounting Review, Vol. 89, No. 5, 2014
Number of pages: 52 Posted: 08 Aug 2009 Last Revised: 13 Jan 2016
University of Toronto - Rotman School of Management, University of Toronto - Joseph L. Rotman School of Management and Iowa State University
Downloads 477 (66,401)
Citation 1

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Price shocks, disclosures, disagreement, drift, stock return

10.

Beauty and Academic Career

Rotman School of Management Working Paper No. 3092844, Singapore Management University School of Accountancy Research Paper No. 2019-105
Number of pages: 58 Posted: 02 Jan 2018 Last Revised: 14 Aug 2019
Singapore Management University - School of Accountancy, University of Toronto - Rotman School of Management and McMaster University - DeGroote School of Business
Downloads 432 (74,884)
Citation 1

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beauty, accounting, career, labor market

11.

Information Diffusion and the Boundary of Market Efficiency: Empirical Evidence from Earnings Announcements

Number of pages: 60 Posted: 14 Sep 2004
Hai Lu
University of Toronto - Rotman School of Management
Downloads 396 (82,867)
Citation 1

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Information diffusion, market efficiency, earnings announcement

12.

Discretionary Dissemination on Twitter

Rotman School of Management Working Paper No. 3105847
Number of pages: 74 Posted: 01 Feb 2018 Last Revised: 13 Dec 2018
Singapore Management University, Hong Kong Polytechnic University and University of Toronto - Rotman School of Management
Downloads 365 (91,117)
Citation 4

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Social Media, Discretionary Dissemination, Disclosures, Twitter, Feedback

Wealth Transfer Effects of Analysts' Misleading Behavior

Journal of Accounting Research, Forthcoming
Number of pages: 48 Posted: 08 May 2006
Tulane University - A.B. Freeman School of Business, University of Toronto - Rotman School of Management and London Business School
Downloads 343 (97,149)
Citation 1

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Global Settlement, Security Analysts, Conflicts of Interest, Institutional Holdings

Wealth Transfer Effects of Analysts' Misleading Behavior

Journal of Accounting Research, Vol. 45, No. 1, pp. 71-110, March 2007
Number of pages: 40 Posted: 11 Dec 2007
Tulane University - A.B. Freeman School of Business, University of Toronto - Rotman School of Management and London Business School
Downloads 12 (657,576)
Citation 1
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14.

Conflict-of-Interest Reforms and Investment Bank Analysts’ Research Biases

Journal of Accounting, Auditing and Finance, Forthcoming
Number of pages: 49 Posted: 06 Aug 2010
City University of Hong Kong - College of Business, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 305 (111,351)
Citation 1

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Analysts, Regulation, Conflict-of-interest, Global Settlement, Investment bank, Analyst bias

15.

Brokerage Industry Self-Regulation: The Case of Analysts' Background Disclosures

AAA 2007 Financial Accounting & Reporting Section (FARS) Meeting Paper , Contemporary Accounting Research, Forthcoming
Number of pages: 53 Posted: 15 Sep 2006 Last Revised: 13 Jan 2016
Temple University - Department of Accounting, Arizona State University (ASU) and University of Toronto - Rotman School of Management
Downloads 269 (127,207)
Citation 1

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analysts, earnings forecasts, professionalism, self-regulation

16.

Is Sin Always a Sin? The Interaction Effect of Social Norms and Financial Incentives on Market Participants’ Behavior

Accounting, Organizations and Society, Forthcoming, Rotman School of Management Working Paper No. 2419667, Singapore Management University School of Accountancy Research Paper No. 2015-21
Number of pages: 53 Posted: 04 Apr 2014
Singapore Management University - School of Accountancy, University of Toronto - Rotman School of Management and McMaster University - DeGroote School of Business
Downloads 264 (129,690)
Citation 6

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Social norms, financial incentives, sin stocks

17.

Gender and beauty in the financial analyst profession: evidence from the United States and China

Review of Accounting Studies, Forthcoming, Singapore Management University School of Accountancy Research Paper No. 2020-114
Number of pages: 53 Posted: 31 Mar 2019 Last Revised: 13 Jul 2020
Duquesne University - A.J. Palumbo School of Business Administration, Singapore Management University - School of Accountancy, University of Toronto - Rotman School of Management and McMaster University - DeGroote School of Business
Downloads 251 (136,612)
Citation 1

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Analysts, Gender, Beauty, Labor Market

18.

Regulations and Brain Drain: Evidence From Wall Street Star Analysts’ Career Choices

Management Science, Forthcoming, Singapore Management University School of Accountancy Research Paper Series Vol. 6, No. 3 Paper No 2018-86
Number of pages: 52 Posted: 22 Sep 2018
City University of Hong Kong - College of Business, Duquesne University - A.J. Palumbo School of Business Administration, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 250 (137,155)
Citation 3

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Analysts, Turnover, Brain Drain, The Global Settlement, Policy and Regulations, Investment Banks

19.

Timing of CEO Stock Option Grants and Corporate Disclosures: New Evidence from the Post-SOX and Post-Backdating-Scandal Era

Number of pages: 40 Posted: 29 Aug 2009 Last Revised: 13 Jan 2016
Wenli Huang and Hai Lu
Hong Kong Polytechnic University and University of Toronto - Rotman School of Management
Downloads 249 (137,693)
Citation 3

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Backdating, Disclosures, Regulations, Sarbanes-Oxley Act, Stock Options, Timing

20.

Do Firms Manage Their CSR Reputation? Evidence from Twitter

Number of pages: 44 Posted: 29 Oct 2019
Singapore Management University, Hong Kong Polytechnic University, University of Toronto - Rotman School of Management and Peking University - Guanghua School of Management
Downloads 236 (145,054)

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Social media, Twitter, Dissemination, Corporate social responsibility, Prosocial

Option Backdating Announcements and Information Advantage of Institutional Investors

Rotman School of Management Working Paper No. 2513688
Number of pages: 44 Posted: 23 Oct 2014 Last Revised: 26 Mar 2016
Wenli Huang, Hai Lu and Xiaolu Wang
Hong Kong Polytechnic University, University of Toronto - Rotman School of Management and Iowa State University
Downloads 158 (209,021)

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Information advantage, fund-firm pair, institutional investors, option backdating, earnings announcements

Option Backdating Announcements and Information Advantage of Institutional Investors

Journal of Accounting, Auditing and Finance, Forthcoming
Number of pages: 44 Posted: 27 Jun 2018
Wenli Huang, Hai Lu and Xiaolu Wang
Hong Kong Polytechnic University, University of Toronto - Rotman School of Management and Iowa State University
Downloads 28 (543,611)
Citation 1

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information advantage, fund-firm pair, connectedness, institutional investors, option backdating, earnings announcement

22.

Conflict-of-Interest Reforms and Brain Drain in Investment Banks

Number of pages: 44 Posted: 21 Sep 2010
City University of Hong Kong - College of Business, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 160 (206,567)
Citation 3

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Securities analysts, Analyst turnover, Brain Drain, Conflict of interest regulations, Global Settlement, Sarbanes-Oxley Act, Government policy and regulation, Investment banks

23.

Market Failure and Reemergence: A Study of Chinese Firms Listed in the US

Singapore Management University School of Accountancy Research Paper No. 2017-57
Number of pages: 55 Posted: 30 Sep 2016
University of Southern California - Leventhal School of Accounting, University of Toronto - Rotman School of Management and Peking University - Guanghua School of Management
Downloads 150 (219,167)
Citation 3

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Chinese Firms, IPOs, Frauds, Lemons market, Information Asymmetry

24.

Analyzing the Analysts: The Effects of Technical and Social Skills on Analyst Performance and Careers

Number of pages: 53 Posted: 26 Aug 2020
Congcong Li, An-Ping Lin and Hai Lu
Duquesne University - A.J. Palumbo School of Business Administration, Singapore Management University - School of Accountancy and University of Toronto - Rotman School of Management
Downloads 54 (434,121)

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Analysts, Skills, Connections, Labor Market, Social Media

25.

Regulations and Brain Drain: Evidence from Wall Street Star Analysts’ Career Choices - Online Appendix

Management Science, Forthcoming.
Number of pages: 25 Posted: 08 Oct 2018
City University of Hong Kong - College of Business, Duquesne University - A.J. Palumbo School of Business Administration, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 41 (466,186)

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analysts, turnover, brain drain, the Global Settlement, policy and regulations, investment banks

The Agency Problem, Corporate Governance, and the Asymmetrical Behavior of Selling, General, and Administrative Costs

Contemporary Accounting Research, 29(1) (Spring 2012): 252-282
Posted: 09 Mar 2011 Last Revised: 13 Jan 2016
University of Illinois at Urbana-Champaign - Department of Accountancy, University of Toronto - Rotman School of Management and University of Illinois at Urbana-Champaign - Department of Accountancy

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SG&A Cost behavior, cost asymmetry, cost stickiness, agency problem, empire building, downsizing, corporate governance

The Agency Problem, Corporate Governance, and the Asymmetrical Behavior of Selling, General, and Administrative Costs

AAA 2009 Management Accounting Section (MAS) Meeting Paper
Posted: 07 Aug 2008 Last Revised: 13 Jan 2016
University of Illinois at Urbana-Champaign - Department of Accountancy, University of Toronto - Rotman School of Management and University of Illinois at Urbana-Champaign - Department of Accountancy

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SG&A Cost behavior, cost asymmetry, cost stickiness, agency problem, empire building, downsizing, corporate governance

Other Papers (2)

Total Downloads: 54
1.

Financial Reporting and Disclosure Practices in China

2019 Canadian Academic Accounting Association (CAAA) Annual Conference
Number of pages: 71 Posted: 18 Jan 2019 Last Revised: 03 May 2019
University of Toronto - Rotman School of Management, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 49

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2.

Gender and Beauty in the Financial Analyst Profession: Evidence From the United States and China – Online Appendix

Review of Accounting Studies, Forthcoming
Number of pages: 10 Posted: 11 Jul 2020
Duquesne University - A.J. Palumbo School of Business Administration, Singapore Management University - School of Accountancy, University of Toronto - Rotman School of Management and McMaster University - DeGroote School of Business
Downloads 5

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Analysts, Gender, Beauty, Labor Market