Xing (Alex) Zhou

Southern Methodist University (SMU) - Finance Department

United States

SCHOLARLY PAPERS

26

DOWNLOADS
Rank 6,482

SSRN RANKINGS

Top 6,482

in Total Papers Downloads

12,663

SSRN CITATIONS
Rank 2,143

SSRN RANKINGS

Top 2,143

in Total Papers Citations

730

CROSSREF CITATIONS

106

Scholarly Papers (26)

1.

Anatomy of a Liquidity Crisis: Corporate Bonds in the COVID-19 Crisis

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 62 Posted: 31 May 2020 Last Revised: 30 Sep 2020
Maureen O'Hara and Xing (Alex) Zhou
Cornell University - Samuel Curtis Johnson Graduate School of Management and Southern Methodist University (SMU) - Finance Department
Downloads 1,789 (18,628)
Citation 25

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Corporate bonds, liquidity crisis, COVID-19, PDCF, SMCCF, electronic trading, customer-to-customer, market maker of last resort.

2.
Downloads 1,461 (25,405)
Citation 189

The Volcker Rule and Market-Making in Times of Stress

Journal of Financial Economics (JFE), Forthcoming, Fourth Annual Conference on Financial Market Regulation
Number of pages: 50 Posted: 11 Sep 2016 Last Revised: 26 Jan 2018
Jack Bao, Maureen O'Hara and Xing (Alex) Zhou
University of Delaware - Department of Finance, Cornell University - Samuel Curtis Johnson Graduate School of Management and Southern Methodist University (SMU) - Finance Department
Downloads 1,079 (38,900)
Citation 20

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Volcker Rule, Corporate Bond Illiquidity, Regulation, Capital Commitment, Dealer Inventory, Market-Making, Financial Crisis

The Volcker Rule and Market-Making in Times of Stress

FEDS Working Paper No. 2016-102
Number of pages: 46 Posted: 28 Dec 2016
Jack Bao, Maureen O'Hara and Xing (Alex) Zhou
University of Delaware - Department of Finance, Cornell University - Samuel Curtis Johnson Graduate School of Management and Southern Methodist University (SMU) - Finance Department
Downloads 382 (147,367)
Citation 148

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Volcker Rule, Corporate Bond Illiquidity, Regulation, Capital Commitment, Dealer Inventory, Market-Making, Financial Crisis

3.

Liquidity Restrictions, Runs, and Central Bank Interventions: Evidence from Money Market Funds

Number of pages: 54 Posted: 26 May 2020 Last Revised: 18 Jun 2021
Lei Li, Yi Li, Marco Macchiavelli and Xing (Alex) Zhou
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Isenberg School of Management and Southern Methodist University (SMU) - Finance Department
Downloads 1,134 (36,725)
Citation 5

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runs, money market funds, redemption gates and liquidity fees, strategic complementarities, COVID-19, MMLF

4.

Where Did All the Information Go? Trade in the Corporate Bond Market

Second Singapore International Conference on Finance 2008, EFA 2008 Athens Meetings Paper
Number of pages: 44 Posted: 23 Jan 2014 Last Revised: 28 May 2016
Tavy Ronen and Xing (Alex) Zhou
Rutgers Business School -Newark and New Brunswick, Department of Finance & Economics and Southern Methodist University (SMU) - Finance Department
Downloads 1,100 (38,394)
Citation 6

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Fixed Income, Credit Markets, Corporate Bond Prices, Informational Efficiency, Bond Market Liquidity, Institutional/Retail Investors

5.

Mutual Fund Fragility, Dealer Liquidity Provisions, and the Pricing of Municipal Bonds

Number of pages: 55 Posted: 13 Nov 2020 Last Revised: 27 Feb 2023
Yi Li, Maureen O'Hara and Xing (Alex) Zhou
Board of Governors of the Federal Reserve System, Cornell University - Samuel Curtis Johnson Graduate School of Management and Southern Methodist University (SMU) - Finance Department
Downloads 767 (63,292)
Citation 14

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Municipal Bonds, Mutual Fund Fragility, Dealer, Liquidity, Pricing, COVID-19

6.

The Execution Quality of Corporate Bonds

Journal of Financial Economics (JFE), Vol. 130, No. 2, 2018
Number of pages: 53 Posted: 27 Oct 2015 Last Revised: 03 Jul 2023
Maureen O'Hara, Yihui Wang and Xing (Alex) Zhou
Cornell University - Samuel Curtis Johnson Graduate School of Management, Fordham University and Southern Methodist University (SMU) - Finance Department
Downloads 748 (65,390)
Citation 8

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Best execution, Corporate bonds, Market Microstructure, Dealer market, Trading Network, Transparency

7.

Funding Liquidity and Market Liquidity: The Broker-Dealer Perspective

Number of pages: 47 Posted: 10 Jan 2019 Last Revised: 26 Oct 2023
Marco Macchiavelli and Xing (Alex) Zhou
Isenberg School of Management and Southern Methodist University (SMU) - Finance Department
Downloads 717 (69,087)
Citation 4

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funding liquidity, market liquidity, repos, broker-dealers, corporate bonds

Bond Market Illiquidity: Is Portfolio Trading the Solution?

This paper subsumes Li (2022) "Frictional Intermediation, Inventory Hedging, and the Rise of Portfolio Trading in the Corporate Bond Market" (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4053987), SMU Cox School of Business Research Paper No. 23-09
Number of pages: 60 Posted: 03 Jul 2023
University of Chicago - Booth School of Business, Cornell University - Samuel Curtis Johnson Graduate School of Management, Board of Governors of the Federal Reserve System and Southern Methodist University (SMU) - Finance Department
Downloads 403 (138,659)
Citation 1

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Bond Portfolio Trading, Liquidity, Corporate Bonds, Corporate Bond Dealers, Financial Innovation

9.

Informed Trading around Acquisitions: Evidence from Corporate Bonds

Number of pages: 40 Posted: 05 Feb 2009 Last Revised: 21 Mar 2011
Simi Kedia and Xing (Alex) Zhou
Rutgers Business School and Southern Methodist University (SMU) - Finance Department
Downloads 516 (104,482)
Citation 11

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Conflict of Interest, Investment Banking, Mergers and Acquisition, Insider Trading, Corporate Bonds

10.

The Electronic Evolution of Corporate Bond Dealers

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 59 Posted: 04 Jun 2020
Maureen O'Hara and Xing (Alex) Zhou
Cornell University - Samuel Curtis Johnson Graduate School of Management and Southern Methodist University (SMU) - Finance Department
Downloads 420 (133,430)
Citation 37

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Electronic trading, Voice trading, RFQ, Corporate bond markets, Bond dealers, Transaction costs, Execution quality, Inter-dealer trade, Rating downgrade

11.

Large Shareholders and Credit Ratings

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 59 Posted: 28 May 2016
Simi Kedia, Shivaram Rajgopal and Xing (Alex) Zhou
Rutgers Business School, Columbia University - Columbia Business School, Accounting, Business Law & Taxation and Southern Methodist University (SMU) - Finance Department
Downloads 400 (141,200)
Citation 6

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Moody's; S&P; credit rating agencies; ownership structure; conflict of interest; difference-in-difference; corporate bond; CMBS

12.

Bond Market Resiliency: The Role of Insurers

Number of pages: 63 Posted: 12 Jul 2022 Last Revised: 06 Jul 2024
Maureen O'Hara, Andreas C. Rapp and Xing (Alex) Zhou
Cornell University - Samuel Curtis Johnson Graduate School of Management, Board of Governors of the Federal Reserve System and Southern Methodist University (SMU) - Finance Department
Downloads 358 (159,735)
Citation 1

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Liquidity, Market Resiliency, Relationship, COVID-19, Insurance Company, Dealer, Mutual Fund, Corporate Bonds

13.

Credit Default Swaps and Bank Regulatory Capital

Review of Finance, forthcoming
Number of pages: 50 Posted: 09 Jun 2014 Last Revised: 14 Jul 2020
Chenyu Shan, Dragon Yongjun Tang, Hong Yan and Xing (Alex) Zhou
Shanghai University of Finance and Economics, The University of Hong Kong - Faculty of Business and Economics, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Southern Methodist University (SMU) - Finance Department
Downloads 336 (171,050)
Citation 8

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Credit Default Swaps, CDS, Regulatory capital, Risk-weighted assets

Did Going Public Impair Moody's Credit Ratings?

Number of pages: 61 Posted: 25 Oct 2013
Simi Kedia, Shivaram Rajgopal and Xing (Alex) Zhou
Rutgers Business School, Columbia University - Columbia Business School, Accounting, Business Law & Taxation and Southern Methodist University (SMU) - Finance Department
Downloads 324 (176,580)
Citation 3

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Did Going Public Impair Moody's Credit Ratings?

Journal of Financial Economics (JFE), Forthcoming
Posted: 26 May 2014
Simi Kedia, Shivaram Rajgopal and Xing (Alex) Zhou
Rutgers Business School, Columbia University - Columbia Business School, Accounting, Business Law & Taxation and Southern Methodist University (SMU) - Finance Department

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Credit ratings; Initial public offering (IPO); Moody’s

15.
Downloads 311 (185,595)
Citation 3

Local Market Makers, Liquidity and Market Quality

Journal of Financial Markets, Forthcoming
Number of pages: 40 Posted: 25 Mar 2008 Last Revised: 13 Jun 2011
Simi Kedia and Xing (Alex) Zhou
Rutgers Business School and Southern Methodist University (SMU) - Finance Department
Downloads 247 (233,710)

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Geography, Information advantages, Liquidity, Market Quality, Trading Costs

Local Market Makers, Liquidity and Market Quality

Number of pages: 46 Posted: 06 Mar 2008 Last Revised: 15 Jun 2011
Simi Kedia and Xing (Alex) Zhou
Rutgers Business School and Southern Methodist University (SMU) - Finance Department
Downloads 64 (660,938)
Citation 3

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Trading Costs, Liquidity, Geography, Information Advantages

16.

Informed Bond Trading, Corporate Yield Spreads, and Corporate Default Prediction

Number of pages: 34 Posted: 20 Mar 2011 Last Revised: 27 Apr 2013
Song Han and Xing (Alex) Zhou
Board of Governors of the Federal Reserve System and Southern Methodist University (SMU) - Finance Department
Downloads 293 (197,708)
Citation 16

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Corporate Bond Yield Spreads, Information Asymmetry, Information Risk Premium, Credit Risk, Corporate Default Prediction

17.

Informed Trading in Corporate Bonds Prior to Earnings Announcements

Number of pages: 49 Posted: 16 Mar 2012
Jason Wei and Xing (Alex) Zhou
University of Toronto - Rotman School of Management and Southern Methodist University (SMU) - Finance Department
Downloads 285 (203,429)
Citation 4

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Informed trading, trade imbalance, corporate bond market, earnings surprises

18.

Secondary Market Liquidity and Primary Market Allocations in Corporate Bonds

Number of pages: 49 Posted: 19 Sep 2019 Last Revised: 12 Aug 2020
Thomas Flanagan, Simi Kedia and Xing (Alex) Zhou
Ohio State University (OSU) - Fisher College of Business, Rutgers Business School and Southern Methodist University (SMU) - Finance Department
Downloads 252 (230,324)
Citation 3

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Corporate Bond Issuance, Primary Markets, Underpricing, Overall Benefit from Initial Allocations, Secondary Market Liquidity, Lead Underwriters

19.

Assessing Gains from Primary Market Allocations in Corporate Bonds

Number of pages: 20 Posted: 03 Jun 2021 Last Revised: 07 Nov 2022
Thomas Flanagan, Simi Kedia and Xing (Alex) Zhou
Ohio State University (OSU) - Fisher College of Business, Rutgers Business School and Southern Methodist University (SMU) - Finance Department
Downloads 204 (281,486)
Citation 2

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Corporate Bond Issuance, Underpricing, Primary Market Allocation, Secondary Market Liquidity

20.

Liquidity Provision in a One-Sided Market: The Role of Dealer-Hedge Fund Relations

SMU Cox School of Business Research Paper No. 23-24
Number of pages: 42 Posted: 20 Dec 2023 Last Revised: 26 Jun 2024
Kelley Business School - Indiana University, Isenberg School of Management, Board of Governors of the Federal Reserve System and Southern Methodist University (SMU) - Finance Department
Downloads 194 (294,670)

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JEL classification: G12, G23, G24 broker-dealers, hedge funds, corporate bonds, market liquidity

21.

Investment Commonality Across Insurance Companies: Fire Sale Risk and Corporate Yield Spreads

FEDS Working Paper No. 2017-69
Number of pages: 56 Posted: 04 Jul 2017
Vikram K. Nanda, Wei Wu and Xing (Alex) Zhou
University of Texas at Dallas - School of Management - Department of Finance & Managerial Economics, California State Polytechnic University, Pomona and Southern Methodist University (SMU) - Finance Department
Downloads 187 (304,545)
Citation 1

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Capital constraints, Corporate bonds, Credit rating, Fire sales, Insurance companies, Regulation, yield spreads

22.

Investment Commonality across Insurance Companies: Fire Sale Risk and Corporate Yield Spreads

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 52 Posted: 31 Mar 2016 Last Revised: 27 Nov 2018
Vikram K. Nanda, Wei Wu and Xing (Alex) Zhou
University of Texas at Dallas - School of Management - Department of Finance & Managerial Economics, Cal Poly Pomona and Southern Methodist University (SMU) - Finance Department
Downloads 164 (341,868)
Citation 1

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yield spread, fire sales, correlated investment strategies, regulation, credit rating, corporate bonds, insurance companies, capital constraints

23.

Things Fall Apart: Fixed Income Markets in the COVID Crisis

Number of pages: 21 Posted: 20 Oct 2022
Maureen O'Hara and Xing (Alex) Zhou
Cornell University - Samuel Curtis Johnson Graduate School of Management and Southern Methodist University (SMU) - Finance Department
Downloads 154 (360,444)

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Covid Crisis, Fixed Income Markets, Federal Reserve, Interventions, Treasury Securities, Corporate Bonds, Municipal Bonds, Fragility, Dealers, Mutual Funds, Hedge Funds, Insurance Companies.

24.

The Value of the Floor

Number of pages: 43 Posted: 23 Jun 2009
Daniel G. Weaver and Xing (Alex) Zhou
Rutgers Business School and Southern Methodist University (SMU) - Finance Department
Downloads 146 (376,524)

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Microstructure, Asymmetric Information, Trading Floor, Volatility, Transaction Costs

25.

Things Fall Apart: Fixed Income Markets in the COVID-19 Crisis

Annual Review of Financial Economics, Vol. 15, pp. 55-68, 2023
Posted: 07 Nov 2023
Maureen O'Hara and Xing (Alex) Zhou
Cornell University - Samuel Curtis Johnson Graduate School of Management and Southern Methodist University (SMU) - Finance Department

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26.

The Corporate Bond Market Crises and the Government Response

FEDS Notes No. 2020-10-07-2 https://doi.org/10.17016/2380-7172.2769
Posted: 14 Oct 2020
Steven A. Sharpe and Xing (Alex) Zhou
Board of Governors of the Federal Reserve System and Southern Methodist University (SMU) - Finance Department

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