William M. Cheung

University of Macau

Assistant Professor of Finance

Macau

SCHOLARLY PAPERS

7

DOWNLOADS

656

SSRN CITATIONS

0

CROSSREF CITATIONS

6

Scholarly Papers (7)

1.

Does Free Cash Flow Problem Contribute to Excess Stock Return Synchronicity?

Review of Quantitative Finance and Accounting, Forthcoming
Number of pages: 28 Posted: 21 Jul 2014
William M. Cheung and Li Jiang
University of Macau and Hong Kong Polytechnic University
Downloads 209 (164,195)

Abstract:

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Free cash flow problem; Stock return synchronicity; Opaqueness; Discretionary accruals

2.

A Comparison of China Main Board and Growth Enterprise Market Board - Market Microstructure Approach

Review of Pacific Basin Financial Markets and Policies (RPBFMP), Forthcoming
Number of pages: 32 Posted: 05 Aug 2013 Last Revised: 06 Aug 2013
William M. Cheung and Kejing Liu
University of Macau and inVentiv Health Clinical
Downloads 194 (176,110)

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Liquidity, Information Production, and Debt-Equity Choice

Number of pages: 36 Posted: 29 Jul 2019 Last Revised: 19 Nov 2020
William M. Cheung, Hyun Joong Im, Thomas H. Noe and Bohui Zhang
University of Macau, Peking University - HSBC Business School, University of Oxford - Said Business School and The Chinese University of Hong Kong, Shenzhen
Downloads 101 (297,355)
Citation 2

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Stock liquidity, Debt issuance, Equity issuance, Capital structure

Online Appendix to 'Liquidity, Information Production, and Debt-Equity Choice'

Number of pages: 30 Posted: 03 Mar 2020 Last Revised: 19 Nov 2020
William M. Cheung, Hyun Joong Im, Thomas H. Noe and Bohui Zhang
University of Macau, Peking University - HSBC Business School, University of Oxford - Said Business School and The Chinese University of Hong Kong, Shenzhen
Downloads 25 (567,676)

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Stock liquidity, Debt issuance, Equity issuance, Capital structure

4.

Stock Liquidity and the Under-investment Problem: A Quasi-natural Experiment in China

Western Economic Association International (WEAI), 2019; Asian Meeting of Econometric Society (AMES), 2019; PKUā€“NUS Annual Conference, 2019; SFM 2018; AFBC 2018; CAFM 2018
Number of pages: 59 Posted: 07 Mar 2019 Last Revised: 27 Jul 2020
University of Macau, University of Queensland, Peking University - HSBC Business School and Peking University - HSBC Business School
Downloads 86 (327,273)

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Stock liquidity, Investment efficiency, Underinvestment, Institutional ownership, Information efficiency, Corporate governance

5.

Blockholding and Market Reactions to Equity Offerings in China

Pacific-Basin Finance Journal, 20, 459-482
Number of pages: 51 Posted: 23 Dec 2011 Last Revised: 06 May 2013
William M. Cheung, Keith Lam and Lewis Tam
University of Macau, University of Macau and Faculty of Business Administration, University of Macau
Downloads 41 (470,142)

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blockholding, equity offerings, financial constraints, agency problems, cash flow sensitivity of cash

6.

Liquidity, Size and Cycle of Order Flow

Posted: 19 Nov 2004
William M. Cheung and Frank M. Song
University of Macau and The University of Hong Kong - School of Economics and Finance

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Liquidity, order flow, limit order, market order

7.

Order Aggressiveness, Volume and Liquidity in Limit Order Market

Posted: 19 Nov 2004
William M. Cheung and Frank M. Song
University of Macau and The University of Hong Kong - School of Economics and Finance

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Limit order, volume, liquidity