Danling Jiang

College of Business, Stony Brook University

Professor of Finance

306 Harriman Hall

Stony Brook, NY 11794

United States

http://sites.google.com/site/danlingjiang

SCHOLARLY PAPERS

38

DOWNLOADS
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Top 4,422

in Total Papers Downloads

16,828

SSRN CITATIONS
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SSRN RANKINGS

Top 4,028

in Total Papers Citations

332

CROSSREF CITATIONS

132

Ideas:
“  Does investor composition help predict future NFT returns and trading volume? The case from music NFTs traded on OpenSea. See our new work 'Investor Composition and the Market for Music Non-Fungible Tokens (NFTs),' a project sponsored by the Ethereum Foundation Academic Grant.  ”

Scholarly Papers (38)

1.

Mood Beta and Seasonalities in Stock Returns

Journal of Financial Economics, 2020, 137(1): 272-295
Number of pages: 63 Posted: 07 Dec 2016 Last Revised: 31 May 2022
University of Southern California - Marshall School of Business - Finance and Business Economics Department, College of Business, Stony Brook University and University of South Florida - Department of Finance
Downloads 1,815 (18,183)
Citation 85

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Return seasonality, Investor mood, Mood beta, Market efficiency, Anomalies

2.

Call-Put Implied Volatility Spreads and Option Returns

Review of Asset Pricing Studies, 2013(3): 258-290
Number of pages: 49 Posted: 15 Jul 2010 Last Revised: 14 Jan 2014
James Doran, Andy Fodor and Danling Jiang
University of New South Wales, Ohio University and College of Business, Stony Brook University
Downloads 1,810 (18,250)
Citation 8

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Implied Volatility Spread, Stock Returns, Option Returns, Option Demand

3.

Corporate Policies of Republican Managers

AFA 2011 Denver Meetings Paper, Journal of Financial and Quantitative Analysis (JFQA), 2014, 49(5/6), 1279-1310
Number of pages: 76 Posted: 17 Mar 2010 Last Revised: 14 Apr 2015
Irena Hutton, Danling Jiang and Alok Kumar
Florida State University - College of Business, College of Business, Stony Brook University and University of Miami - Miami Herbert Business School
Downloads 1,592 (22,233)
Citation 101

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Political values, financial conservatism, corporate culture, capital structure, dividend policy, investments

4.

Lawyer CEOs

Journal of Financial and Quantitative Analysis, forthcoming
Number of pages: 5 Posted: 25 Feb 2017 Last Revised: 26 Oct 2023
University of Chicago - Law School, Florida State University - College of Business, College of Business, Stony Brook University and Wharton Research Data Services (WRDS)
Downloads 1,157 (35,537)
Citation 5

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CEOs, legal expertise, corporate litigation, value creation, Sarbanes-Oxley Act

5.

Political Values, Culture, and Corporate Litigation

Management Science, 2015, 61(12): 2905-2925.
Number of pages: 67 Posted: 04 Mar 2012 Last Revised: 18 Dec 2015
Irena Hutton, Danling Jiang and Alok Kumar
Florida State University - College of Business, College of Business, Stony Brook University and University of Miami - Miami Herbert Business School
Downloads 1,055 (40,662)
Citation 49

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Political values, culture, litigation, managerial misconduct, Corporate Misconduct

6.

Political Contributions and Analyst Behavior

Review of Accounting Studies, 2016, 21(1): 37-88
Number of pages: 57 Posted: 03 Oct 2010 Last Revised: 08 Mar 2016
Danling Jiang, Alok Kumar and Kelvin Law
College of Business, Stony Brook University, University of Miami - Miami Herbert Business School and Nanyang Business School, Nanyang Technological University
Downloads 1,045 (41,172)
Citation 13

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Equity Analysts, Political Contribution, Conservative Analysts, Forecasting Style, Market Reaction

7.

A Financing-Based Misvaluation Factor and the Cross Section of Expected Returns

Review of Financial Studies, 2010, 2 (9), 3401-3436.
Number of pages: 59 Posted: 20 Mar 2007 Last Revised: 28 Feb 2023
David Hirshleifer and Danling Jiang
University of Southern California - Marshall School of Business - Finance and Business Economics Department and College of Business, Stony Brook University
Downloads 962 (46,263)
Citation 6

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Misvaluation, financing, new issues, repurchase, factor models, market efficiency, behavioral finance

8.

Short-Sale Constraints and the Idiosyncratic Volatility Puzzle: An Event Study Approach

Journal of Empirical Finance, 2014 (28): 36-59
Number of pages: 56 Posted: 24 Sep 2007 Last Revised: 16 Jul 2014
Danling Jiang, David R. Peterson and James Doran
College of Business, Stony Brook University, Florida State University - Department of Finance and University of New South Wales
Downloads 565 (93,038)
Citation 8

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Idiosyncratic Volatility, Short-Sale Constraints, IPO Lockup, Option Introduction, Short-Sale Ban

9.

Blockchain Speculation or Value Creation? Evidence from Corporate Investments

Financial Management, 2021, 50 (3), 727-746.
Number of pages: 34 Posted: 23 Jul 2019 Last Revised: 14 Sep 2021
Don M. Autore, Nicholas Clarke and Danling Jiang
Florida State University - College of Business, University of Alabama in Huntsville and College of Business, Stony Brook University
Downloads 558 (94,490)
Citation 2

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Blockchain; Bitcoin; Cryptocurrency; Investment Credibility

10.

Weather, Institutional Investors, and Earnings News

Journal of Corporate Finance, Volume 69, August 2021, 101990
Number of pages: 47 Posted: 02 Apr 2021 Last Revised: 24 Sep 2023
Danling Jiang, Dylan Norris and Lin Sun
College of Business, Stony Brook University, Troy University and George Mason University - Department of Finance
Downloads 520 (103,211)

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Weather Condition; Institutional Investor; Earnings Announcement; Post-earnings-announcement Drift

11.

A Cross-Cultural Study of Reference Point Adaptation: Evidence from China, Korea, and the US

Organizational Behavior and Human Decision Processes, Vol. 112, No. 2, pp. 99-111, July 2010
Number of pages: 31 Posted: 12 Jul 2007 Last Revised: 11 Jun 2010
Ohio State University - Department of Psychology, University of Southern California - Marshall School of Business - Finance and Business Economics Department, College of Business, Stony Brook University and DePaul University - Department of Finance
Downloads 464 (118,304)
Citation 10

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Prospect theory, cross-cultural differences, reference point adaptation, mental accounting, security trading

12.

The UMO (Undervalued Minus Overvalued) Factor

Number of pages: 6 Posted: 03 Aug 2011
David Hirshleifer and Danling Jiang
University of Southern California - Marshall School of Business - Finance and Business Economics Department and College of Business, Stony Brook University
Downloads 441 (125,643)
Citation 1

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Misvaluation Factor, New Issues, Repurchases, External Financing, Return Predictability

13.

Gambling Preference and the New Year Effect of Assets with Lottery Features

Review of Finance, 2012, 16(3), 685-731.
Number of pages: 63 Posted: 04 Feb 2008 Last Revised: 26 Nov 2012
James Doran, Danling Jiang and David R. Peterson
University of New South Wales, College of Business, Stony Brook University and Florida State University - Department of Finance
Downloads 429 (129,720)
Citation 8

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January effect, Gambling, Preference for skewness, Out-of-the-money options, China

14.

Reference Point Adaptation: Tests in the Domain of Security Trading

Organizational Behavior and Human Decision Processes, Vol. 105, No. 1, pp. 67-81, January 2008
Number of pages: 32 Posted: 28 Jun 2006 Last Revised: 19 Oct 2008
Ohio State University - Department of Psychology, University of Southern California - Marshall School of Business - Finance and Business Economics Department, College of Business, Stony Brook University and DePaul University - Department of Finance
Downloads 422 (132,264)
Citation 16

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Prospect theory, Reference point, Asset pricing, Security trading

15.

The Second Moment Matters! Cross-Sectional Dispersion of Firm Valuations and Expected Stock Returns

Journal of Banking and Finance, 2013, 37(10), 3974-3992
Number of pages: 55 Posted: 03 Apr 2007 Last Revised: 02 Aug 2013
Danling Jiang
College of Business, Stony Brook University
Downloads 412 (135,905)
Citation 2

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Return Predictability, Dispersion, Overconfidence, Sentiment, Business Cycle

16.

The Human Capital That Matters: Expected Returns and High-Income Households

Review of Financial Studies, 2016, 29(9): 2523-2563
Number of pages: 56 Posted: 15 Sep 2007 Last Revised: 15 Oct 2016
Board of Governors of the Federal Reserve System, University of Miami - Department of Finance, College of Business, Stony Brook University and University of Miami - Department of Finance
Downloads 399 (141,073)
Citation 3

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human capital, income risk, affluent investors, stock returns

17.

Trust and Household Debt

Review of Finance, 2018, 22 (2), 783-812.
Number of pages: 43 Posted: 05 Nov 2011 Last Revised: 22 May 2019
Danling Jiang and Sonya S. Lim
College of Business, Stony Brook University and DePaul University - Department of Finance
Downloads 366 (155,307)
Citation 11

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Trust, Trustworthiness, Household Debt, Culture, Early-Life Experiences

18.

Short Interest as a Signal to Issue Equity

Journal of Corporate Finance, 2018, 48, 797-815
Number of pages: 46 Posted: 22 Jan 2012 Last Revised: 22 May 2019
Florida State University - College of Business, Florida State University - College of Business, College of Business, Stony Brook University and Hofstra University - Frank G. Zarb School of Business
Downloads 357 (159,636)
Citation 1

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Real effects of arbitrage activities; short interest; seasoned equity offer; litigation; insider trading

19.

The Preholiday Corporate Announcement Effect

Journal of Financial Markets, 2019, 45: 61-82
Number of pages: 59 Posted: 09 Nov 2014 Last Revised: 21 Nov 2019
Don M. Autore and Danling Jiang
Florida State University - College of Business and College of Business, Stony Brook University
Downloads 302 (190,833)
Citation 2

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Corporate announcements, market reaction, preholiday effect, mood, market efficiency

20.

Working Class CEOs: Formation of Occupational Norms and Corporate Labor Policies

University of Miami Business School Research Paper No. 3501928
Number of pages: 52 Posted: 31 Dec 2019
Henrik Cronqvist, Irena Hutton and Danling Jiang
Chapman University - The George L. Argyros College of Business and Economics, Florida State University - College of Business and College of Business, Stony Brook University
Downloads 294 (196,983)
Citation 1

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CEOs, labor policies, workplace safety, employment and labor litigation

21.

Cultural New Year Holidays and Stock Returns Around the World

Financial Management, 2016, 45(1), 3-35
Number of pages: 48 Posted: 11 Dec 2012 Last Revised: 08 Mar 2016
Kelley Bergsma Lovelace and Danling Jiang
Ohio University and College of Business, Stony Brook University
Downloads 263 (219,819)
Citation 4

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Cultural New Year, Investor Mood, Individual Investors, Stock Returns, Cash Infusion

22.

Factor Beta, Overnight and Intraday Expected Returns in China

Global Finance Journal, 2023, Article 1000827
Number of pages: 30 Posted: 29 Jun 2022 Last Revised: 16 Mar 2023
Zhengke Ye, Danling Jiang and Yunfeng Luo
Central South University - School of Business, College of Business, Stony Brook University and Nanjing University of Information Science and Technology
Downloads 247 (233,932)
Citation 1

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Intraday return; Overnight return; Factor beta; Factor premium; Investor clientele

23.

The No-Short Return Premium

Number of pages: 41 Posted: 24 Jan 2017 Last Revised: 29 Mar 2019
Danling Jiang and Xiaoming Li
College of Business, Stony Brook University and Massey University - School of Economics and Finance (Albany)
Downloads 205 (279,200)

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Short-Sale Regulation; Return Comovement; Limits to Arbitrage; Mispricing

24.

Investor Overreaction, Cross-Sectional Dispersion of Firm Valuations, and Expected Stock Returns

Number of pages: 67 Posted: 14 Mar 2006 Last Revised: 29 May 2014
Danling Jiang
College of Business, Stony Brook University
Downloads 193 (294,756)

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Overreaction, overconfidence, aggregate, cross-section, arbitrage

25.

Stock Market Participation with Formal versus Informal Housing Debt in China 

Number of pages: 47 Posted: 30 Jan 2020 Last Revised: 04 Jun 2024
Jie Yang, Danling Jiang and Keli Xiao
Capital University of Economics and Business and Stony Brook Univedrsity, College of Business, Stony Brook University and College of Business, Stony Brook University
Downloads 143 (383,156)

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Stock market participation, Portfolio choice, Mortgage debt, Informal finance, Housing JEL Classification: D10, G11, G51

26.

Shared Analyst Coverage and Connected-Firm Momentum Spillover in China

Systems Engineering Theory & Practice, Forthcoming
Number of pages: 20 Posted: 17 Feb 2023
Danling Jiang, Xun Peng and Hongquan Zhu
College of Business, Stony Brook University, School of Economics and Management, Southwest Jiaotong University and Southwest Jiaotong University
Downloads 128 (415,385)

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Shared Analyst Coverage, Momentum Spillover, Limited Attention, Institutional Investor

27.

Urban Vibrancy, Human Capital, and Firm Valuation in China

China Finance Review International, 2022,12 (3), 415-432.
Number of pages: 25 Posted: 23 Aug 2021 Last Revised: 27 Feb 2023
Danling Jiang, Shuying Liu, Feiyu Li and Hongquan Zhu
College of Business, Stony Brook University, Southwest Jiaotong University, Southwest Jiaotong University and Southwest Jiaotong University
Downloads 105 (481,313)
Citation 2

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Urban vibrancy, Tobin’s q, Geographic valuation premium, Human capital

28.

Mood Betas and Seasonalities in Stock Returns

NBER Working Paper No. w24676
Number of pages: 62 Posted: 13 Jun 2018 Last Revised: 05 Jun 2022
University of Southern California - Marshall School of Business - Finance and Business Economics Department, College of Business, Stony Brook University and University of South Florida - Department of Finance
Downloads 101 (494,527)
Citation 2

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29.

Culture and Stock Lending

Number of pages: 45 Posted: 23 Jun 2023 Last Revised: 03 Apr 2024
Danling Jiang, Baixiao Liu and Steven Chong Xiao
College of Business, Stony Brook University, Peking University HSBC Business School and University of Texas at Dallas - Naveen Jindal School of Management
Downloads 93 (521,913)

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Culture, Religiosity, Blockholder, Stock Lending, Short-Sale Constraints

30.

Earnings Seasonality, Management Earnings Forecasts and Stock Returns

China Journal of Accounting Research, 2023, Article 100303. https://doi.org/10.1016/j.cjar.2023.100303
Number of pages: 23 Posted: 22 Dec 2022 Last Revised: 28 Mar 2023
Danling Jiang, Pan Song and Hongquan Zhu
College of Business, Stony Brook University, Southwest Jiaotong University and Southwest Jiaotong University
Downloads 93 (521,913)

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Management earnings forecast; Earnings seasonality; Stock return seasonality; Representativeness heuristic; Extrapolation

31.

Investor Composition and the Market for Music Non-Fungible Tokens (NFTs)

Donald G. Costello College of Business at George Mason University Research Paper
Number of pages: 41 Posted: 10 Jan 2024
College of Business, Stony Brook University, George Mason University - Department of Finance, Google, Cornell University - Cornell Tech NYC, Cornell University - College of Computing and Information Science (CIS) and University of Southern California - Viterbi School of Engineering
Downloads 82 (564,119)

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Non-fungible tokens, Blockchain, Ethereum, OpenSea, Spotify

32.

Faster than Flying: High-Speed Rail, Investors, and Firms

Number of pages: 43 Posted: 19 Jul 2021 Last Revised: 13 Jan 2023
Lu Qin, Danling Jiang, Don M. Autore and Hongquan Zhu
Southwestern University of Finance and Economics (SWUFE), College of Business, Stony Brook University, Florida State University - College of Business and Southwest Jiaotong University
Downloads 77 (585,195)
Citation 1

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High-speed railroad, city connectivity, social interaction, stock comovement, investor behavior

33.

Is A Better than B? How Affect Influences the Marketing and Pricing of Financial Securities

Financial Analysts Journal, 2010, 66 (6), 40-54, November/December
Number of pages: 29 Posted: 16 Apr 2010 Last Revised: 22 May 2019
James S. Ang, Ansley Chua and Danling Jiang
Florida State University, Kansas State University and College of Business, Stony Brook University
Downloads 72 (607,438)
Citation 1

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Dual-Class Shares, Affect, Consumer Psychology, Initial Public Offering (IPO), IPO Underpricing, Behavioral Finance, Behavioral Biases, Representativeness and Affect Heuristics

34.

The Market Responses to Earnings Seasonality: Evidence from Chinese A-Share Market

Journal of Systems Science and Mathematical Sciences, 2020, 40 (10): 1805-1820. DOI: 10.12341/jssms13982; "盈利季节性的市场反应: 基于中国A股公司的研究", 系统科学与数学, 2020, 40(10): 1805-1820.
Number of pages: 9 Posted: 14 Nov 2021 Last Revised: 06 Jan 2023
Yujin He, Danling Jiang and Hongquan Zhu
Southwest Jiaotong University - School of Economics & Management, College of Business, Stony Brook University and Southwest Jiaotong University
Downloads 32 (856,909)

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Earnings announcement; Earnings seasonality; Stock return seasonality; Representativeness heuristic; Market reaction

35.

Presentation Slides for "A Financing-Based Misvaluation Factor and the Cross Section of Expected Returns"

Number of pages: 16 Posted: 20 Jun 2024
David Hirshleifer and Danling Jiang
University of Southern California - Marshall School of Business - Finance and Business Economics Department and College of Business, Stony Brook University
Downloads 29 (882,820)

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Misvaluation, New Issues, Financing, Repurchase, Factor Models, UMO

36.

Game in Another Town: Geography of Stock Watchlists and Firm Valuation

Posted: 05 Jan 2021 Last Revised: 09 Jan 2024
Danling Jiang, Keke Wu, Dayong Dong and Hongquan Zhu
College of Business, Stony Brook University, Southwest Jiaotong University, Southwest Jiaotong University and Southwest Jiaotong University
Downloads 0 (1,167,366)

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Intercity investment preferences, stock watchlist, latent city network, local bias

37.

Long and Short Memory in the Risk-Neutral Pricing Process

Journal of Derivatives, Summer 2019, DOI: https://doi.org/10.3905/jod.2019.1.077
Posted: 28 Feb 2019 Last Revised: 14 Sep 2021
Young Shin Kim, Danling Jiang and Stoyan V. Stoyanov
College of Business, Stony Brook University, College of Business, Stony Brook University and Charles Schwab

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Option Pricing, Long-Range Dependence, Fractional Levy Processes

38.

Individual Investors

Chapter 3 of Financial Behavior: Players, Services, Products, and Markets, edited by H. Kent Baker, Greg Filbeck, and Victor Ricciardi, Oxford University Press USA, New York, 2017
Posted: 26 May 2017 Last Revised: 07 Jun 2017
Henrik Cronqvist and Danling Jiang
Chapman University - The George L. Argyros College of Business and Economics and College of Business, Stony Brook University

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Individual investors, investor behavior, modern finance, holistic view