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

31

DOWNLOADS
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in Total Papers Downloads

13,656

SSRN CITATIONS
Rank 5,303

SSRN RANKINGS

Top 5,303

in Total Papers Citations

121

CROSSREF CITATIONS

130

Ideas:
“  Does firm valuation differ across headquarter cities in China, and why? Our new paper provides a first systematic analysis of geographic firm valuation premiums in China. We show city geographic location and initial cumulated human capital supply have created long-lasting, and growing, shareholder wealth by attracting and retaining talents in local firms.  ”

Scholarly Papers (31)

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: 14 Jul 2020
Marshall School of Business, USC, College of Business, Stony Brook University and University of South Florida - Department of Finance
Downloads 1,556 (16,291)
Citation 8

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

2.

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 1,485 (17,491)
Citation 39

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

3.

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 1,423 (18,663)
Citation 5

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

4.

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 955 (33,390)
Citation 18

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

5.

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

Review of Financial Studies, Vol. 23, No. 9, pp. 3401-3436, 2010 , AFA 2008 New Orleans Meetings Paper, WFA 2009 San Diego Meetings Paper
Number of pages: 59 Posted: 20 Mar 2007 Last Revised: 22 Jun 2011
David A. Hirshleifer and Danling Jiang
Marshall School of Business, USC and College of Business, Stony Brook University
Downloads 901 (36,223)
Citation 6

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

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 900 (36,271)
Citation 13

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

7.

Lawyer CEOs

Number of pages: 42 Posted: 25 Feb 2017 Last Revised: 07 Mar 2018
University of Chicago - Law School, Florida State University - College of Business, College of Business, Stony Brook University and Wharton Research Data Services (WRDS)
Downloads 892 (36,740)
Citation 5

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CEOs, litigation risk, corporate 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 532 (72,453)
Citation 7

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

9.

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: 14 Sep 2021
Danling Jiang, Dylan Norris and Lin Sun
College of Business, Stony Brook University, Troy University and George Mason University
Downloads 439 (91,200)

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

10.

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, Marshall School of Business, USC, College of Business, Stony Brook University and DePaul University - Department of Finance
Downloads 436 (91,945)
Citation 6

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

11.

The UMO (Undervalued Minus Overvalued) Factor

Number of pages: 6 Posted: 03 Aug 2011
David A. Hirshleifer and Danling Jiang
Marshall School of Business, USC and College of Business, Stony Brook University
Downloads 391 (104,312)
Citation 1

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

12.

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, Marshall School of Business, USC, College of Business, Stony Brook University and DePaul University - Department of Finance
Downloads 377 (108,741)
Citation 14

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Prospect theory, Reference point, Asset pricing, Security trading

13.

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 375 (109,386)
Citation 2

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Return Predictability, Dispersion, Overconfidence, Sentiment, Business Cycle

14.

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 368 (111,756)
Citation 8

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

15.

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
Downloads 354 (116,649)
Citation 3

Abstract:

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human capital, income risk, affluent investors, stock returns

16.

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, Middle Tennessee State University - Department of Economics and Finance and College of Business, Stony Brook University
Downloads 350 (118,083)
Citation 2

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Blockchain; Bitcoin; Cryptocurrency; Investment Credibility

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 331 (125,547)
Citation 8

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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 310 (134,395)
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 250 (167,512)
Citation 2

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

20.

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 214 (194,092)
Citation 4

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

21.

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
University of Miami - Department of Finance, Florida State University - College of Business and College of Business, Stony Brook University
Downloads 203 (203,923)

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

22.

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 179 (227,840)

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

23.

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 171 (236,947)

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Overreaction, overconfidence, aggregate, cross-section, arbitrage

24.

Stock Market Participation with Formal versus Informal Housing Debt

Number of pages: 37 Posted: 30 Jan 2020 Last Revised: 30 Sep 2020
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 76 (418,508)

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Stock market participation; Risky asset share; Mortgage debt; Informal finance; Housing; Financial literacy

25.

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

Number of pages: 38 Posted: 05 Jan 2021 Last Revised: 13 Sep 2021
Dayong Dong, Danling Jiang, Keke Wu and Hongquan Zhu
Southwest Jiaotong University, College of Business, Stony Brook University, Southwest Jiaotong University and Southwest Jiaotong University
Downloads 63 (461,940)

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Geographic preferences, local bias, stock watchlist, latent city network, stock valuation

26.

Mood Betas and Seasonalities in Stock Returns

NBER Working Paper No. w24676
Number of pages: 62 Posted: 13 Jun 2018 Last Revised: 05 Dec 2021
Marshall School of Business, USC, College of Business, Stony Brook University and University of South Florida - Department of Finance
Downloads 63 (461,940)
Citation 1

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27.

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 44 (540,736)
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

28.

Urban Vibrancy, Human Capital, and Firm Valuation in China

China Finance Review International, forthcoming. https://doi.org/10.1108/CFRI-08-2021-0173
Number of pages: 25 Posted: 23 Aug 2021 Last Revised: 19 Apr 2022
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 18 (700,185)

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

29.

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.
Posted: 14 Nov 2021 Last Revised: 28 Jan 2022
Yujin He, Danling Jiang and Hongquan Zhu
School of Economics and Management, Southwest Jiaotong University, College of Business, Stony Brook University and Southwest Jiaotong University

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盈余公告, 盈利季节性, 代表性启发, 市场反应, Earnings announcement; Earnings seasonality; Representativeness heuristic; Market reaction

30.

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

31.

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
University of Miami - Department of Finance and College of Business, Stony Brook University

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Individual investors, investor behavior, modern finance, holistic view

Other Papers (2)

Total Downloads: 28
1.

In Practice: Paying Attention to Stock Ranking

CFA Institute, Asia-Pacific Research Exchange (ARX), April 2017
Number of pages: 3 Posted: 12 May 2017
Danling Jiang and Jingyu Cui
College of Business, Stony Brook University and State University of New York (SUNY), Stony Brook
Downloads 18

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Attention, Ranking, China Stock Market, Price Limit

2.

In Practice: Short Sale Restrictions Imply Higher Returns

CFA Institute, Asia-Pacific Research Exchange (ARX), April 2017
Number of pages: 3 Posted: 12 May 2017
Danling Jiang and Xiaoming Li
College of Business, Stony Brook University and Massey University - School of Economics and Finance (Albany)
Downloads 10

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