Gaiyan Zhang

University of Missouri at St. Louis - College of Business Administration

Finance Board Scholar and Professor of Finance

One University Blvd

St. Louis, MO 63121

United States

SCHOLARLY PAPERS

21

DOWNLOADS
Rank 8,873

SSRN RANKINGS

Top 8,873

in Total Papers Downloads

5,198

SSRN CITATIONS
Rank 4,367

SSRN RANKINGS

Top 4,367

in Total Papers Citations

23

CROSSREF CITATIONS

214

Scholarly Papers (21)

1.

Are the U.S. Stock Market and Credit Default Swap Market Related? Evidence from the CDX Indices

Journal of Alternative Investments, Summer 2008
Number of pages: 47 Posted: 07 Jul 2008 Last Revised: 02 Nov 2009
University of Missouri at Saint Louis - College of Business Administration, Southern Illinois University Edwardsville, Seattle University and University of Missouri at St. Louis - College of Business Administration
Downloads 733 (33,802)
Citation 1

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credit default swap (CDS) index, information efficiency, price discovery

2.

Information Effects of Bond Rating Changes: The Role of the Rating Prior to the Announcement

Journal of Fixed Income, Spring 2007
Number of pages: 28 Posted: 01 Nov 2009
Philippe Jorion and Gaiyan Zhang
University of California, Irvine - Paul Merage School of Business and University of Missouri at St. Louis - College of Business Administration
Downloads 690 (36,706)
Citation 1

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credit rating agencies, market reaction, event study, default probability

3.

Do Credit Default Swaps Predict Currency Values?

Applied Financial Economics, Forthcoming
Number of pages: 44 Posted: 01 Nov 2009
Gaiyan Zhang, Jot Yau and Hung-Gay Fung
University of Missouri at St. Louis - College of Business Administration, Seattle University and University of Missouri at Saint Louis - College of Business Administration
Downloads 365 (81,566)

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Credit default Swaps, foreign exchange rates, lead-lag relationship, carry trade

4.

Institutional Ownership and Credit Spreads: An Information Asymmetry Perspective

Journal of Empirical Finance, Vol. 16, 2009
Number of pages: 34 Posted: 22 Mar 2007 Last Revised: 02 Nov 2009
Ashley Wang and Gaiyan Zhang
Federal Reserve Board and University of Missouri at St. Louis - College of Business Administration
Downloads 350 (85,601)
Citation 1

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Institutional ownership, credit spreads, information asymmetry, corporate governance

5.

Good and Bad Credit Contagion: Evidence from Credit Default Swaps

Journal of Financial Economics, Vol. 84, 2007
Number of pages: 39 Posted: 01 Nov 2009
Philippe Jorion and Gaiyan Zhang
University of California, Irvine - Paul Merage School of Business and University of Missouri at St. Louis - College of Business Administration
Downloads 348 (86,168)
Citation 11

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credit default swaps, bankruptcy, contagion, market reaction, event study

6.

On the Relationship between Asian Sovereign Credit Default Swap Markets and Equity Markets

Journal of Asian Business Studies, Forthcoming
Number of pages: 31 Posted: 01 Nov 2009
Kam C. Chan, Hung-Gay Fung and Gaiyan Zhang
Western Kentucky University - Department of Accounting and Finance, University of Missouri at Saint Louis - College of Business Administration and University of Missouri at St. Louis - College of Business Administration
Downloads 303 (100,440)

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Sovereign credit default swaps, capital structure arbitrage, price discovery, feedback effect

The Determinants of Global Bank Credit-Default-Swap Spreads

Bank of Finland Research Discussion Paper No. 33/2014
Number of pages: 45 Posted: 08 Jan 2015
Iftekhar Hasan, Liuling Liu and Gaiyan Zhang
Fordham University - Gabelli School of Business, Bowling Green State University - College of Business Administration and University of Missouri at St. Louis - College of Business Administration
Downloads 148 (199,515)
Citation 3

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bank credit default swaps, structural models, CAMELS, global banks

The Determinants of Global Bank Credit-Default-Swap Spreads

Bank of Finland Research Discussion Paper No. 33/2014, Gabelli School of Business, Fordham University Research Paper No. 2770433
Number of pages: 45 Posted: 26 Apr 2016
Iftekhar Hasan, Liuling Liu and Gaiyan Zhang
Fordham University - Gabelli School of Business, Bowling Green State University - College of Business Administration and University of Missouri at St. Louis - College of Business Administration
Downloads 148 (199,515)

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8.

On the Imbalances between the Real Estate Market and Stock Markets in China

Chinese Economy, Vol. 2, 2006
Number of pages: 22 Posted: 01 Nov 2009
Gaiyan Zhang and Hung-Gay Fung
University of Missouri at St. Louis - College of Business Administration and University of Missouri at Saint Louis - College of Business Administration
Downloads 284 (107,727)

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China, Real estate market, stock market, granger-causality, financial development

9.
Downloads 273 (112,344)
Citation 4

Financial Firm Bankruptcy and Contagion

Midwest Finance Association 2013 Annual Meeting Paper
Number of pages: 66 Posted: 26 Aug 2012 Last Revised: 19 Jun 2013
Jean Helwege and Gaiyan Zhang
UC Riverside and University of Missouri at St. Louis - College of Business Administration
Downloads 161 (185,655)
Citation 4

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Banks, counterparty contagion, information contagion, bankruptcy

Financial Firm Bankruptcy and Contagion

Number of pages: 54 Posted: 15 Mar 2012 Last Revised: 01 Aug 2012
Jean Helwege and Gaiyan Zhang
UC Riverside and University of Missouri at St. Louis - College of Business Administration
Downloads 112 (247,991)
Citation 3

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Banks, counterparty contagion, information contagion, bankruptcy

10.

Informational Efficiency of Credit Default Swap and Stock Markets: The Impact of Adverse Credit Events

International Review of Accounting, Banking and Finance, Vol. 1, 2009
Number of pages: 22 Posted: 01 Nov 2009
Gaiyan Zhang
University of Missouri at St. Louis - College of Business Administration
Downloads 273 (112,344)

Abstract:

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Credit default swap, information efficiency, adverse credit events

11.

Institutional Investor Preferences for Analyst Forecast Accuracy: Does Investment Strategy Matter?

CAAA Annual Conference 2011
Number of pages: 43 Posted: 17 Jan 2011
University of Cincinnati - Department of Accounting, University of Missouri at Saint Louis, University of Missouri at St. Louis - College of Business Administration and Federal Reserve Board
Downloads 232 (132,756)
Citation 1

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12.

Market Impediments, Trade, and Foreign Direct Investment: Evidence from China's Round-Tripping

Number of pages: 43 Posted: 20 Mar 2007
Hung-Gay Fung, Jot Yau and Gaiyan Zhang
University of Missouri at Saint Louis - College of Business Administration, Seattle University and University of Missouri at St. Louis - College of Business Administration
Downloads 207 (148,009)

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Trade flows, foreign direct investment, round-tripping, regulatory arbitrage

13.

Return Predictability in Corporate Bond Market Along the Supply Chain

Journal of Financial Markets, June 2016, Vol 29, 66-86
Number of pages: 52 Posted: 21 Apr 2014 Last Revised: 04 Jan 2017
Long Chen, Gaiyan Zhang and Weina Zhang
Luohan Academy, University of Missouri at St. Louis - College of Business Administration and Department of Finance, National University of Singapore
Downloads 175 (172,615)
Citation 1

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Corporate Bonds; Cash Flow; Credit Rating; Credit Risk; Earnings; Information; Supply Chain; Return Predictability

14.

Deposit Insurance and the 2008-2009 Global Financial Crisis

Financial Stability Studies, Vol.18, No.1, Korea Deposit Insurance Corporation(KDIC), 2017, pp. 1-19.
Number of pages: 20 Posted: 14 Jul 2017 Last Revised: 09 Jan 2019
Fordham University - Gabelli School of Business, Illinois Institute of Technology, Bowling Green State University - College of Business Administration and University of Missouri at St. Louis - College of Business Administration
Downloads 155 (191,628)

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Banking, Market Monitoring, Deposit Insurance, Financial Crisis

15.
Downloads 108 (253,219)
Citation 12

Information Transfer Effects of Bond Rating Downgrades

Financial Review, Forthcoming
Number of pages: 32 Posted: 31 Oct 2009
Philippe Jorion and Gaiyan Zhang
University of California, Irvine - Paul Merage School of Business and University of Missouri at St. Louis - College of Business Administration
Downloads 104 (261,489)

Abstract:

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bond rating downgrades, industry information transfer, contagion effects, competition effects

Information Transfer Effects of Bond Rating Downgrades

Financial Review, Vol. 45, Issue 3, pp. 683-706, August 2010
Number of pages: 24 Posted: 13 Jul 2010
Philippe Jorion and Gaiyan Zhang
University of California, Irvine - Paul Merage School of Business and University of Missouri at St. Louis - College of Business Administration
Downloads 4 (655,225)
Citation 2
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16.

Lock-In Effects in Relationship Lending: Evidence from Dip Loans

Number of pages: 33 Posted: 15 Mar 2011 Last Revised: 14 Nov 2012
Fordham University - Gabelli School of Business, Kennesaw State University - Michael J. Coles College of Business and University of Missouri at St. Louis - College of Business Administration
Downloads 106 (256,517)
Citation 2

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relationship lending, DIP financing, bank loans, lock-in effects, debtor-in-possession, financial intermediaries, lending practices

17.

Information Efficiency of the U.S. Credit Default Swap Market: Evidence from Earnings Surprises

Journal of Financial Stability, Forthcoming
Number of pages: 44 Posted: 28 Jan 2009 Last Revised: 24 Jun 2013
Gaiyan Zhang and Sanjian Bill Zhang
University of Missouri at St. Louis - College of Business Administration and California State University Long Beach
Downloads 81 (305,085)

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Earnings surprise, cost of debt, credit derivative

18.

CDS Pricing and Accounting Disclosures: Evidence from U.S. Bank Holding Corporations Around the Recent Financial Crisis

Journal of Financial Stability, Forthcoming
Number of pages: 47 Posted: 01 Feb 2016
York University - Schulich School of Business, University of Missouri at St. Louis - College of Business Administration and California State University Long Beach
Downloads 70 (331,738)

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Credit default swaps; CAMELS; Credit crisis; Risk pricing; Accounting disclosures

19.

A Model of Price, Volume and Sequential Information

International Journal of Business and Economics, Vol. 6, 2007
Number of pages: 30 Posted: 01 Nov 2009
Gaiyan Zhang
University of Missouri at St. Louis - College of Business Administration
Downloads 67 (339,568)

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Price, Volume, Sequential Information, Trading Strategy, Event Study

20.

Bank Capital, Interbank Contagion, and Bailout Policy

Journal of Banking and Finance, Forthcoming
Number of pages: 47 Posted: 17 Apr 2013
Suhua Tian, Yunhong Yang and Gaiyan Zhang
Fudan University - School of Economics, Peking University - Guanghua School of Management and University of Missouri at St. Louis - College of Business Administration
Downloads 57 (368,388)

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interbank linkages, optimal capital holding, contagion, bailout policy, regulatory capital requirement, takeover, liquidation

21.

Natural-Disaster Experience and Risk-taking Behaviors: Evidence from Individual Investor Trading

Number of pages: 56 Posted: 09 Jul 2019
National Taiwan University, Department of Finance, Students, Fordham University - Gabelli School of Business, National Chiao-Tung University and University of Missouri at St. Louis - College of Business Administration
Downloads 25 (496,932)

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Natural disaster experience, individual investors, trading behavior, gambling stocks, abnormal returns.