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HIEBS Working Papers

 

 

 

 

   
 
HIEBS Working Papers series is published by The Hong Kong Institute of Economics and Business Strategy, a research center at The University of Hong Kong.
 
Ref. No. Title
   
1184 Liquidity, Futures Price Dynamics, and Risk Management, June 2008
Kit Pong Wong
 
1183 Liquidity Risk and Corporate Hedging With Futures, March 2008
Maurice K.S. Tse and Kit Pong Wong
 
1182 Export and Strategic Currency Hedging, February 2008
Udo Broll and Peter Welzel and Kit Pong Wong
 
1181 On the Investment-Uncertainty Relationship, January 2008
Kit Pong Wong
 
1180 Foreign Direct Investment and Currency Hedging, December 2007
Kit Pong Wong
 
1179 Does Market Demand Volatility Facilitate Collusion? November 2007
Kit Pong Wong
 
1178 Asset Prices Under Short-Sale Constraints, November 2006
Yang Bai and Eric Chang and Jiang Wang
 
1177 Wages, Participation and Unemployment in the Economic Transition of Urban China, April 2007
Jun Han and Junsen Zhang
 
1176 Option Compensation and Industry Competition, August 2007
Neal M. Stoughton and Kit Pong Wong
 
1175 Production, Liquidity, and Futures Price Dynamics, August 2007
Kit Pong Wong
 
1174 The Effects of Abandonment Options on Operating Leverage and Investment Timing, July 2007
Kit Pong Wong
 
1173 Cross-Hedging for the Multinational Firm under Exchange Rate Uncertainty, July 2007
Kit Pong Wong
 
1172 Firm Heterogeneity and Exporting Behavior: Evidence from China's Manufacturing Firms, June 2007
Jiangyong Lu and Zhigang Tao
 
1171 The Costs and Benefits of Government Ownership: Evidence from Privatization of China's Collectively-Owned Enterprises, June 2007
Jiangyong Lu and Zhigang Tao and Zhi Yang
 
1170 Economic Institutions and FDI Location Choice: Evidence from U.S. Multinationals in China, March 2007
Julan Du and Yi Lu and Zhigang Tao
 
1169 Facing Protectionism Generated by Trade Disputes: China's Post-WTO Blues, June 2007
Wing Thye Woo and Geng Xiao
 
1168 What are the High-Probability Challenges to Continued High Growth in China? May 2007
Wing Thye Woo
 
1167 Hedging, Liquidity, and the Multinational Firm under Exchange Rate Uncertainty, February 2007
Kit Pong Wong
 
1166 Estimating Corporate Investment Inefficiency: Evidence from an Implied Return on Capital in China, May 2007
Qiao Liu and Alan Siu
 
1165 Age Structure of the Workforce in Growing and Declining Industries: Evidence from Hong Kong, April 2007
Jun Han and Wing Suen
 
1164 What Has Happened to the Gender Earnings Differential in Urban China During 1988-2004? Published in January 2007
Junsen Zhang and Pak-Wai Liu and Jun Han and Yaohui Zhao
 
1163 Currency Hedging for Multinationals under Liquidity Constraints, January 2007
Rujing Meng and Kit Pong Wong
 
1162 Institutions, Financial Development, and Corporate Investment: Evidence from an Implied Return on Capital in China, December 2006
Qiao Liu and Alan Siu
 
1161 Bureaucratic Integration and Regional Specialization in China, October 2006
Chong-En Bai and Zhigang Tao and Yueting Sarah Tong
 
1160 The Effects of Public Housing on Internal Mobility in Hong Kong, September 2006
Hon-Kwong Lui and Wing Suen
 
1159 The Effect of Uncertainty on Investment Timing in Real Options Model, July 2006
Kit Pong Wong
 
1158 Cross-Hedging with Currency Forward Contracts, April 2006
Kit Pong Wong
 
1157 Predicting Stock Market Returns with Aggregate Discretionary Accruals, June 2006
Qiang Kang and Qiao Liu and Rong Qi
 
1156 Guess Who's Also Minding Your Business? The Effect of Credit Ratings Changes on CEO Incentives, February 2006
Qiang Kang and Qiao Liu
 
1155 Economic Liberalization with Rising Segmentation on China's Urban Labor Market, June 2006
Sylvie Démurger and Martin Fournier and Li Shi and Wei Zhong
 
1154 Non-Stackelberg Outcomes in Stackelberg Duopoly Experiments: Parsimonious Explanation Based on Inequality Aversion, March 2006
Sau-Him Paul Lau and Felix Leung
 
1153 The Multitask Theory of State Enterprise Reform: Empirical Evidence from China, January 2006
Chong-En Bai and Jiangyong Lu and Zhigang Tao
 
1152 Bi-Sourcing in the Global Economy, December 2005
Julan Du and Yi Lu and Zhigang Tao
 
1151 Optimal Export and Hedging Decisions When Forward Markets Are Incomplete, February 2006
Kit Pong Wong
 
1150 Foreign Direct Investment and Forward Hedging, December 2005
Kit Pong Wong
 
1149 Liquidity Risk and the Hedging Role of Options, November 2005
Kit Pong Wong and Jianguo Xu
 
1148 Restricted Export Flexibility and Risk Management with Options and Forward Contracts, August 2005
Axel F.A. Adam-Miller and Kit Pong Wong
 
1147 The Comparative Statics of Differential Rents in Two-Sided Matching Markets, September 2005
Wing Suen
 
1146 International Tenders and Futures Hedging, September 2005
Donald Lien and Kit Pong Wong
 
1145 Operational and Financial Hedging for Exporting Firms, June 2005
Kit Pong Wong
 
1144 Meauring the Economic Return to an Infrastructure Investment Using Interregional Price Gaps: a Natural Experment, September 2005
Zhigang Li
 
1143 Divergent Interests between Central and Local Governments: Testing Theories of Public Ownership, September 2005
Chong-En Bai and Jiangyong Lu and Zhigang Tao
 
1142 Property Rights Protection and Access to Bank Loans: Evidence from Private Enterprises in China, August 2005
Chong-En Bai and Jiangyong Lu and Zhigang Tao
 
1141 How Good Is Good News? Technology Depth, Book-to-Market Ratio, and Innovative Events, June 2005
Qiao Liu
 
1140 A Missing Link in the Risk-Incentive Tradeoff, May 2005
Qiang Kang and Qiao Liu
 
1139 Stock Market Information Production and Executive Incentives, April 2005
Qiang Kang and Qiao Liu
 
1138 A Vulnerability Index for Predicting Extreme Market Events in Hong Kong, June 2005
W.K. Li and Philip Yu and K.S. Maurice Tse
 
1137 People's Republic of China's Round-Tripping FDI: Scale, Causes and Implications, July 2004
Xiao Geng
 
1136 Foreign Direct Investment in East Asia and Latin America: Is there a People's Republic of China Effect? November 2004
Busakorn Chantasasawat and K.C. Fung and Hitomi Iizaka and Alan Siu
 
1135 Foreign Direct Investment in China and East Asia, November 2004
Busakorn Chantasasawat and K.C. Fung and Hitomi Iizaka and Alan Siu
 
1134 International Competition for Foreign Direct Investment: The Case of China, December 2003
Busakorn Chantasasawat and K.C. Fung and Hitomi Iizaka and Alan Siu
 
1133 What Is Special about Enterprise Performance in North-East People's Republic of China? June 2005
Geng Xiao
 
1132 Divergent Interests between Central and Local Governments: Testing Theories of State Ownership, January 2005
Chong-en Bai and Zhigang Tao and Jiangyong Lu
 
1131 Economic changes and afforestation incentives in rural China, May 2005
Sylvie Démurger and Weiyong Yang
 
1130 Do the Forward Sales of Real Estate Stabilize Spot Prices? October 2004
C.Y. Yiu and S.K. Wong, M.K.S. Tse, and K.W. Chau
 
1129 Using Turn Taking to Mitigate Conflict and Coordination Problems in the Battle of the Sexes Game, April 2005
Sau-Him Paul Lau and Vai-Lam Mui
 
1128 Using an error-correction model to test whether endogenous long-run growth exists, December 2004
Sau-Him Paul Lau
 
1127 Life Cycle Effects of Fertility on Parents' Labor Supply, May 2005
James P. Vere
 
1126 Does Competition Encourage Unethical Behavior? the Case of Corporate Profit Hiding in China, May 2005
Hongbin Cai and Qiao Liu and Geng Xiao
 
1125 Corporate Governance in China: Current Practices, Economic Effects, and Institutional Determinants, May 2005
Qiao Liu
 
1124 Are Accruals Profits Illusory to Informed Traders? April 2005
Qiao Liu and Rong Qi
 
1123 A Marriage of Capitalism and Socialism: The Case of China's Stock Market Development, April 2005
Sonia M.L. Wong
 
1122 Cross-Hedging of Exchange Rate Risks: A Note, May 2005
Sylvie Démurger and Martin Fournier and Li Shi
 
1121 Multinationals and Futures Hedging under Liquidity Constraints, April 2005
Sylvie Démurger and Martin Fournier and Li Shi
 
1120 Multinationals, Hedging, and Capital Structure under Exchange Rate Uncertainty, April 2005
Sylvie Démurger and Martin Fournier and Li Shi
 
1119 Urban Income Inequality in China Revisited (1988-2002), April 2005
Sylvie Démurger and Martin Fournier and Li Shi
 
1118 When to Ally and When to Acquire: Expansion Strategies of Multinational Firms in China, March 2005
Yigang Pan and Zhigang Tao and Jiangyong Lu
 
1117 A Spatial Theory of News Consumption and Electoral Competition, March 2005
Jimmy Chan and Wing Suen
 
1116 The Evolution of Gender Wage Gaps and Discrimination in Urban China: 1988-1995, Published in October 2004
Sylvie Démurger and Martin Fournier and Yi Chen
 
1115 Business Cycle and Inflation Synchronisation in Mainland China and Hong Kong, January 2005
Petra Gerlach-Kristen
 
1114 Audit Firm Size Effects in China's Emerging Audit Markets, December 2004
Chuntao Li and Frank M. Song and Sonia M.L. Wong
 
1113 Chief Executive Officer Turnovers and the Performance of China's Listed Enterprises, November 2004
Eric C. Chang and Sonia Wong
 
1112 Some Fundamental Inadequacies of the Washington Consensus: Misunderstanding the Poor by the Brightest, November 2004
Wing Thye Woo
 
1111 Competition, Ownership, Corporate Governance and Enterprise Performance: Evidence from China, September 2004
Yifan Hu and Frank Song and Junxi Zhang
 
1110 Tax Asymmetry and Futures Hedging under Liquidity Constraints, August 2004
Kit Pong Wong
 
1109 Operating Leverage and the Interaction between Abandonment Options and Exotic Hedging, July 2004
Wong Kit Pong
 
1108 Currency Options and Export-Flexible Firms, June 2004
Wong Kit Pong and Yick Ho Yin
 
1107 Mutual Admiration Clubs, July 2004
Wing Suen
 
1106 Politicized Capitalism in China: Economic Effects of State Intervention in Post-Communist Firms, March 2004
Sonja Opper and Victor Nee and Sonia Wong
 
1105 On the Pricing and Hedging of Discrete Dynamic Guaranteed Funds, August 2003
Eric Chang and Leong Kwai Li and Wai-Man Tse
 
1104 Two-Color Partial Rainbow Options, January 2004
Der-Chen Chang, Haitao Fan, Duy-Minh Nhieu and Eric Chang
 
1103 Idiosyncratic Volatility, Fundamentals, and Institutional Herding: Evidence from the Japanese Stock Market, February 2004
Eric Chang and Sen Dong
 
1102 The Role of Volume Dispersion in Explaining the Price Change-Volume Relation at the Index Level, January 2004
Eric Chang and Joseph Cheng and Ajay Khorana
 
1101 Short-Sales Constraints and Price Discovery: Evidence from the Hong Kong Market, March 2004
Eric Chang and Yinghui Yu
 
1100 Insider Trading in Hong Kong: Concentrated Ownership versus the Legal Environment, October 2002
Jun Zhu and Eric C. Chang and J. Michael Pinegar
 
1099 International Competition for Foreign Direct Investment: The Case of China, December 2003
Busakorn Chantasasawat and KC Fung and Hitomi Iizaka and Alan Siu
 
1098 The Giant Sucking Sound: Is China Diverting Foreign Direct Investments from Other Asian Economies? October 2003
Busakorn Chantasasawat and K.C. Fung and Hitomi Iizaka and Alan Siu
 
1097 Earnings Management to Tunnel: Evidence from China's Listed Companies, February 2004
Qiao Liu and Zhou Lu
 
1096 Corporate Governance and Market Valuation in China, April 2004
Chong-En Bai, Qiao Liu, Joe Lu, Frank Song, and Junzi Zhang
 
1095 Look Who Are Disguising Profits: An Application to Chinese Industrial Firms, May 2004
Qiao Liu and Geng Xiao
 
1094 Bad News is Good News: Propping and Tunnelling Evidence from China, April 2004
Chong-En Bai and Qiao Liu and Frank Song
 
1093 Loglinear approximate solutions to RBC models: An illustration and some observations, January 2004
Sau-Him Paul Lau and Philip Hoi-Tak Ng
 
1092 Achieving Intertemporal Efficiency and Symmetry through Intratemporal Asymmetry: (Eventual) Turn Taking in a Class of Repeated Mixed-Interest Games, November 2003
Sau-Him Paul Lau and Vai-Lam Mui
 
1091 Do Dragons have better fate? May 2004
Ka-fu Wong and Linda Yung
 
1090 Asia's Bond Markets: Reforms to Promote Activity and Lessen Financial Contagion, May 2004
Paul Lejot and Douglas Arner and Liu Qiao
 
1089 Liquidity Constraints and the Hedging Role of Futures Spreads, January 2004
Kit Pong Wong
 
1088 The Effects of Abandonment Options on Operating Leverage and Forward Hedging, October 2003
Kit Pong Wong
 
1087 Too little, too late -- Interest rate setting and the costs of consensus, May 2004
Petra Gerlach-Kristen
 
1086 Internal and external shocks in Hong Kong: Empirical evidence and policy options, May 2004
Petra Gerlach-Kristen
 
1085 Estimating the Natural Rate of Unemployment in Hong Kong, May 2004
Petra Gerlach-Kristen
 
1084 Economic Impact of SARS: The Case of Hong Kong, April 2004
Y.C. Richard Wong and Alan Siu
 
1083 The Role of MFN in WTO Accession, August 2003
Eric W. Bond and Stephen Ching and Edwin L.C. Lai
 
1082 Media as Watchdogs: The Role of News Media in Electoral Competition, March 2004
Jimmy Chan and Wing Suen
 
1081 The Travails of Current Macroeconomic and Exchange Rate Management in China: The Complications of Switching to a New Growth Engine, September 2003
Wing Thye Woo
 
1080 The Political Economy of the Japanese Yen and the U.S.-Japanese Trade Conflict, January 2004
K.C. Fung and Hitomi Iizaka and Paul Lau and Chelsea Lin
 
1079 Dragon Children: Identifying the Causal Effect of the First Child on Female Labor Supply with the Chinese Lunar Calendar, January 2004
James P. Vere
 
1078 First in Village or Second in Rome? November 2003
Ettore Damiano and Li Hao and Wing Suen
 
1077 No-Fault Divorce and the Compression of Marriage Ages, November 2003
Douglas W. Allen and Krishna Pendakur and Wing Suen
 
1076 Wage Differentials and Ownership Structure in Chinese Enterprises, October 2003
Yi Chen and Sylvie Demurger and Martin Fournier
 
1075 Shrinking Earnings Premium for University Graduates in Hong Kong: The Effect of Quantity or Quality? October 2003
Hon-Kwong Lui and Wing Suen
 
1074 Taking two steps at a time: On the optimal step pattern of policy rates, October 2003
Petra Gerlach-Kristen
 
1073 Can Freer Intra-Industry Trade Raise Wages? Evidence from Canada, September 2003
K.C. Fung and Harry Huizinga
 
1072 Asia's Debt Capital Markets Appraisal & Agenda for Policy Reform, October 2003
Paul Lejot, Douglas Arner, Liu Qiao, and Mylene Chan and Marshall Mays
 
1071 Shanghai and Hong Kong as International Financial Centres: Historical Perspective and Contemporary Analysis, September 2003
Y.C. Jao
 
1070 A Theory of Currency Board with Irrevocable Commitments, March 2003
Alex W.H. Chan and Nai-fu Chen
 
1069 European Economic Integration and the Effectiveness of Employment Policies, March 2003
K.C. Fung and Chelsea C. Lin and Andrea M. Maechler
 
1068 Accession Rules and Trade Agreements: The Case of the WTO, August 2000
Eric W. Bond and Stephen Ching and Edwin Lai
 
1067 Political Control and Performance in China's Listed Firms, March 2003
Eric C. Chang and Sonia M.L. Wong
 
1066 Shareholding Structure, Depoliticization, and Firm Performance: Lessons from China's Listed Firms, April 2003
Sonia M.L. Wong and Sonja Opper and Ruyin Hu
 
1065 A Study of Mutual Fund Flow and Market Return Volatility, May 2002
Eric C. Chang and Ying Wang
 
1064 Time-Varying Conditional Volume and Asset Pricing Relations, February 2002
Eric C. Chang and Joseph W. Cheng and J. Michael Pinegar
 
1063 Adjusted Estimates of United States-China Bilateral Trade Balances: 1995-2002, Published in April 2002
K.C. Fung and Lawrence Lau
 
1062 U.S. and Japanese Direct Investment in China: An Econometric Examination, May 2003
K.C. Fung and Hitomi Iizaka and Alan Siu
 
1061 Market Sentiments, Winner's Curse, and Bidding Strategy in Real Estate Auctions, July 2000
K.S. Maurice Tse
 
1060 A Market Approach to the Bankruptcy Problem, August 2001
Stephen Ching and Vikas Kakkar
 
1059 Search frictions, market power, and long run growth, May 2003
Chung Yi Tse
 
1058 New product introduction and diffusion with costly search, April 2003
Chung Yi Tse
 
1057 Revenue sharing and control rights in team production: theories and evidence from joint ventures, January 2003
Chong-En Bai and Zhigang Tao and Changqi Wu