content
Oriana- Company information across the Asia-Pacific region in the trial
ORIANA is a comprehensive database containing financial information on over 20 million public and private companies in 46 countries including the Middle East and Asia-Pacific regions. Each company is part of a default peer group based on its activity codes; integral graphs and a specific report demonstrate its position in this peer group. A company tree diagram instantly illustrates the structure of the group.
Language： Chinese/English
Trial Period： Until Dec 31, 2014
Access: https://oriana.bvdep.com/ip (On campus)
Update: Daily
Bankscope in the trial
Bankscope combines widely-sourced data with flexible software for searching and analysing banks. Bankscope contains comprehensive information on banks across the globe. You can use it to research individual banks and find banks with specific profiles and analyse them. Bankscope has up to 16 years of detailed accounts for each bank. Bankscope recently added the Fitch Bank Credit Model to Bankscope. This is a statistical model that produces a financial implied rating and daily implied CDS spread for over 11,000 banks across the globe. This model helps you evaluate banks that aren’t traditionally assessed by rating agencies and validate and benchmark your own credit opinions.
Language： English
Trial Period： Until Dec 31, 2014
Access: https://bankscope2.bvdep.com/ip (On campus)
Remote Access for Mac
Mac OS X Client Configuration:
- Download the Client:
anyconnect-macosx-4.2.01035-web-deploy-k9.dmg
- Install Cisco Anyconnect
- Find and double-click the Cisco Anyconnect app icon in Finder
- Enter “ckvpn.ckgsb.com” in the address bar, and then click ”Connect”
- Type in your credentials
- Click “OK”
Remote Access for Windows
Windows Client Configuration:
- Download the Client:
anyconnect-win-4.2.01035-web-deploy-k9.rar
- Unzip and double-click the zip file
Start–Run–Cisco AnyConnect
- Enter “ckvpn.ckgsb.com” in the address bar, and then click ”Connect”
- Type in your credentials
- Click “OK”
Hybrid E-commerce Platform: When an Online Retailer Offers Own Delivery Service
Yubo Chen
The imbalanced development of logistics and payment makes it difficult for an online retailer to reduce the uncertainty of online shopping in emerging markets. In response, some online retailers establish a hybrid e-commerce platform in the hope to reduce online shopping uncertainty, and thus to establish customers’ trust in the platform and increase their purchases. Based on two natural experiments arising from JD.com’s initiative of establishing its own delivery service, we examine how the setup of a hybrid e-commerce platform influenced customers’ shopping behaviors between 2009 and 2013. We find that the founding of a hybrid e-commerce platform led customers to increase purchases by 7 to 10 percent at city level. In addition, we find that the sales boosting effect is greater for (1) cities with less mature shipping service, (2) light-buyers, (3) categories with higher uncertainty, and (4) products with fewer discounts. The results are consistent with the interpretation that the establishment of a hybrid e-commerce platform improves shoppers’ trust in the online retailer. Thus, a hybrid platform does more than to speed up the delivery, but more importantly, it helps to build customer trust in the business.
Financial Research
Headed by Professor Henry Cao, the CKGSB Center for Financial Research is committed to forward-looking and innovative research in the areas of capital markets, corporate finance, and international finance. Through professional journals and academic discussion, the center seeks to provide analysis, suggestions, and solutions to government organizations, companies, financial practitioners, and ordinary investors. The center also aims to offer ideas and methods to help advance the level of financial services in China and promote the adoption of international standards.
Recent Center for Financial Research seminars:
Seminar Schedule » Brown Bag
Date | Speaker Name | Speaker Affiliation | Field | Topic |
2019/5/28 | Fenghua Song | Pennsylvania State University | Finance | TBC |
2019/5/14 | Michael Schwert | The Wharton School, | Finance | The Effects of Transparency on Trading Profits and Price Informativeness: Evidence from Corporate Bonds |
2019/5/7 | Ye Li | The Ohio State University Fisher College of Business | Finance | Tokenomics: Dynamic Adoption and Valuation |
2019/4/23 | Xiaomeng Lu | SAIF | Finance | Bubble-Creating Stock Market Attacks: Evidence from China |
2019/4/23 | Xiaomeng Lu | SAIF | Finance | Bubble-Creating Stock Market Attacks: Evidence from China |
2019/4/16 | Martin Oehmke | London School of Economics | Finance | The Tragedy of Complexity |
2019/4/9 | Ryan Israelsen | Broad College of Business, Michigan State University | Finance | Information Consumption and Asset Pricing |
2019/3/26 | Allaudeen Hameed | NUS | Finance | Option Volume and Anomalies |
2019/3/19 | Boris Nikolov | University of Lausanne | Finance | The Sources of Financing Constraints |
2019/3/5 | Grace Hu | University of Hong Kong | Finance | Premium for Heightened Uncertainty: Solving the FOMC Puzzle |
2019/2/26 | Shaojun Zhang | The Ohio State University | Finance | Limited Risk Sharing and International Equity Returns |
2019/1/14 | Su Wang | London School of Economics and Political Science | Finance | Young Firm Manager Turnover and Performance |
2019/1/11 | Siyu Lu | Carnegie Mellon University | Finance | The Efficiency Effects of Information Quality in Failed-Bank Auctions |
2019/1/11 | Yingguang Zhang | University of Southern California | Finance | Delayed Alpha: The Term Structure of Earnings Expectations and the Cross Section of Stock Returns |
2019/1/10 | Linghang Zeng | Georgia Institute of Technology | Finance | Impact of Venture Capital Flows on Incumbent Firms: Evidence from 70 Million Workers |
2018/12/18 | Alexander Michaelides | Imperial College Business School | Finance | Tactical Target Date Funds |
2018/12/11 | Yuehua Tang | Warrington College of Business | Finance | Prime (Information) Brokerage |
2018/12/04 | Baolian Wang | Warrington College of Business, University of Florida | Finance | Cryptocurrency Pump-and-Dump Schemes |
2018/11/27 | Neal Stoughton | WU Vienna University of Economics and Business | Finance | Discretionary NAVs |
2018/11/20 | Wenhao Yang | University of South Carolina, Darla Moore School of Business | Finance | Costly Information Acquisition in Decentralized Markets: Experimental Evidence |
2018/11/13 | Hongjun Yan | DePaul University | Finance | Global Perspective or Local Knowledge: The Macro-information in the Sovereign CDS Market |
2018/11/06 | Robert M. Anderson | University of California, Berkeley | Finance | Predicting Portfolio Return Volatility at Medium Horizons |
2018/10/23 | Bohui Zhang | The Chinese University of Hong Kong | Finance | Temperature and Productivity: Evidence from Plant-level Data |
2018/10/16 | Tse-Chun Lin | University of Hong Kong | Finance | The Round Number Heuristic and Crowdfunding Performance |
2018/09/17 | Li Gan | Texas A&M University | Finance | Relocating Migrants or In Situ Migrants: a New Perspective of Urbanization in China |
2018/09/04 | Yongxiang Wang | Marshall School of Business, University of Southern California | Finance | Target Setting and Allocative Inefficiency in Lending: Evidence from Two Chinese Banks |
2018/09/11 | Wenyu Wang | Kelley School of Business, Indiana University | Finance | Weak Governance by Informed Active Shareholders |
2018-09-04 | Yongxiang Wang | Marshall School of Business, University of Southern California | Finance | Target Setting and Allocative Inefficiency in Lending: Evidence from Two Chinese Banks |
2018-05-30 | Jinhui Bai | School of Economic Sciences, Washington State University | Finance | The Welfare and Distributional Effects of Fiscal Volatility: a Quantitative Evaluation |
2018-05-22 | Xing Huang | Olin Business School | Finance | Extrapolative Beliefs in the Cross-Section: What Can We Learn from the Crowds? |
2018-05-15 | Lei Zhang | The University of Hong Kong | Finance | Complex Asset Markets |
2018-05-08 | Zhenyu Gao | Chinese University of Hong Kong | Finance | Attention to Global Warming |
2018-04-03 | Raymond Leung | CKGSB | Finance | An Intrinsic Theory of Information Acquisition: Application to Dynamic Portfolio Choice, Asset Pricing and Information Recovery |
2018-03-27 | Eliezer M. Fich | LeBow College of Business | Finance | Are Market Reactions to M&As Biased by Overextrapolation of Salient News? |
2018-03-20 | Laurent Fresard | Robert H. Smith School of Business University of Maryland | Finance | Technological Changes and the Evolution of IPO and Acquisition Activities |
2018-03-13 | Michaela Pagel | Columbia Business School | Finance | Fully Closed: Individual Responses to Realized Capital Gains and Losses |
2018-01-25 | Ruan Hongxun | The Wharton School, University of Pennsylvania | Finance | Social Capital and Innovation: Evidence from Connected Holdings |
2018-01-25 | Ye Shuai | Cornell University | Finance | How do ETFs Affect the Liquidity of the Underlying Corporate Bonds? |
2018-01-24 | Chen Yixin | Massachusetts Institute of Technology (MIT) | Finance | Individual Stock-picking Skills in Active Mutual Funds |
2018-01-23 | Zhang Teng | Georgia Institute of Technology | Finance | Uniform Mortgage Regulation and Distortion in Capital Allocation |
2018-01-23 | Li Jie | INSEAD | Finance | An Anatomy of Arbitrageurs: Evidence from Open-End Structured Funds |
2018-01-22 | Su Yinan | The University of Chicago | Finance | Interbank Runs: A Network Model of Systemic Liquidity Crunches |
2018-01-22 | Peng Cameron | Yale University | Finance | Price and Volume Dynamics in Bubbles |
2017-11-21 | Jan Bena | Sauder School of Business, University of British Columbia | Finance | |
2017-11-07 | Andres Liberman | Stern School of Business | Finance | The Equilibrium Effects of Asymmetric Information: Evidence from Consumer Credit Markets |
2017-10-24 | Hui Chen | MIT Sloan School of Management | Finance | |
2017-09-26 | Jia Hao | The Chinese University of Hong Kong | Finance | Liquidity Provision Contracts and Market Quality: Evidence from the New York Stock Exchange |
2017-09-19 | Mark Westerfield | Foster School of Business | Finance | |
2017-09-12 | Zhangkai Huang | Tsinghua University School of Economics and Management | Finance | Limits to Autocracy: An Analysis of China’s Renationalization |
2017-09-12 | Xiaoyun Yu | Kelley School of Business | Finance | The Power of the Passive Information Intermediary: Evidence from Google’s China Exit |
2017-09-05 | Hong Ru | Nanyang Technological University | Finance | Rise of Bank Competition: Evidence from Banking Deregulation in China |
2017-08-08 | Yajun Wang | Robert H. Smith School of Business | Finance | |
2017-06-20 | Lorenzo Garlappi | Sauder School of Business, | Finance | The Carry Trade and Uncovered Interest Parity when Markets are Incomplete |
2017-06-13 | Rui Albuquerque | Boston College Carroll School of Management | Finance | Relative Performance, Banker Compensation, and Systemic Risk |
2017-06-06 | Ron Kaniel | Simon School of Business | Finance | Relative Pay for Non-Relative Performance: Keeping up with the Joneses with Optimal Contracts |
2017-05-31 | Maria Cecilia Bustamante | Robert H. Smith School of Business | Finance | |
2017-05-16 | Sheng Huang | Singapore Management University | Finance | Are Longer-tenured Independent Directors Less Effective Monitors? Insights from Insider Trading |
2017-04-11 | Péter Kondor | London School of Economics | Finance | Financial Choice and Financial Information |
2017-03-28 | Dirk Jenter | London School of Economics | Finance | |
2017-03-21 | Vidhan Goyal | The Hong Kong University of Science and Technology | Finance | Index Membership and Capital Structure: International Evidence |
2017-03-14 | Xuewen Liu | The Hong Kong University of Science and Technology | Finance | Financial Markets, the Real Economy, and Self-fulfilling Uncertainties |
2017-03-07 | Xintong Zhan | Erasmus School of Economics | Finance | How Do Smart-beta ETFs Affect Asset Management Industry? Evidence from Mutual Fund Flows |
2017-02-13 | Mingzhu Tai | Harvard University | Finance | House Prices and the Allocation of Consumer Credit |
2017-01-18 | Weikai Li | The Hong Kong University of Science and Technology | Finance | Synthetic Shorting with ETFs |
2017-01-12 | Jun Wu | Kelley School of Business, Indiana University Bloomington | Finance | Do Mutual Funds Have News Trading Skills? Evidence from Daily Trading Ahead of News Releases |
2017-01-12 | Ting Xu | University of British Columbia, Sauder School of Business | Finance | Learning from the Crowd: The Feedback Value of Crowdfunding |
2016-12-20 | Xu Tian | University of Toronto | Finance | Uncertainty and the Shadow Banking Crisis: A Structural Estimation |
2016-12-13 | Jun Yu | School of Economics and Lee Kong Chian School of Business | Finance | |
2016-12-09 | Jun Yu | School of Economics and Lee Kong Chian School of Business | Finance | Market Sentiment and Paradigm Shifts in Equity Premium Forecasting |
2016-11-22 | Yufeng Wu | University of Illinois | Finance | |
2016-11-01 | Shiyang Huang | The University of Hong Kong | Finance | The Effect of Options on Information Acquisition and Asset Pricing |
2016-10-25 | Nengjiu Ju | SAIF | Finance | |
2016-10-25 | Raymond Leung | CKGSB | Finance | Financial Intermediation and the Market Price of Risk: Theory and Evidence |
2016-10-11 | Tan Wang | SAIF | Finance | |
2016-10-11 | Justin Birru | Fisher College of Business | Finance | |
2016-9-13 | Howard Kung | London Business School | Finance | |
2016-6-28 | Lu Zhang | Max M. Fisher College of Business, The Ohio State University | Finance | |
2016-6-21 | Hong Liu | Washington University in St. Louis | Finance | |
2016-6-14 | Yi Wen | Federal Reserve Bank of St. Louis | Finance | The Making of An Economic Superpower Unlocking China’s Secret of Rapid Industrialization |
2016-5-24 | Darrell Duffie | Stanford Graduate School of Business | Finance | |
2016-5-24 | Murray Frank | Carlson School of Management University of Minnesota | Finance | |
2016-5-17 | Zhenyu Wang | Kelley School of Business, Indiana University | Finance | Dynamics of the Expectation and Risk Premium in the OIS Term Structure |
2016-5-17 | Xiaoji Lin | Ohio State University | Finance | The Elephant in the Room: the Impact of Labor Obligations on Credit Risk |
2016-5-10 | Marcin Kacperczyk | Imperial College London Business School | Finance | |
2016-5-10 | Xiaolan Zhang | McCombs School of Business | Finance | |
2016-4-26 | Federico Bandi | Johns Hopkins Carey Business School | Finance | |
2016-4-7 | Sreedhar Bharath | W.P. Carey School of Business | Finance | Ephemeral Experiences, Long Lived Impact : Disasters and Portfolio Choice |
2016-4-5 | Kathy Yuan | London School of Economics | Finance | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
2016-3-29 | Stefan Zeume | Stephen M. Ross School of Business | Finance | |
2016-3-29 | Yasushi Hamao | Marshall School of Business | Finance | |
2016-3-22 | Gennaro Bernile | Singapore Management University | Finance | |
2016-2-23 | Wei Dou | MIT Sloan School of Management | Finance | Embrace or Fear Uncertainty: Growth Options, Limited Risk Sharing, and Asset Prices |
2016-2-1 | Guojun Chen | Columbia University | Finance | Corporate Savings, Investment, and Financing with Aggregate Uncertainty Shocks |
2016-2-1 | Wenhao Yang | University of Utah | Finance | Mutual Fund Management: Does Active Management Pay? |
2016-1-15 | Chengwei Wang | INSEAD | Finance | Lesser-Known Stocks and Signal Cleans |
2016-1-14 | Zhen Zhou | New York University | Finance | Systemic Bank Panics in Financial Networks |
2016-1-14 | Zhenduo Du | Northwestern University | Finance | Endogenous Information Acquisition: Evidence from Web Visits to SEC Filings of Insider Trades |
2016-1-12 | Song Ma | Duke University’s Fuqua School of Business | Finance | The Life Cycle of Corporate Venture Capital |
2016-1-12 | Raymond C. W. Leung | University of California, Berkeley | Finance | Centralized versus Decentralized Delegated Portfolio Management under Moral Hazard |
2015-12-22 | Bo Sun (Brown Bag) | Federal Reserve Board | Finance | |
2015-12-22 | Lin Cong | Booth School of Business, University Chicago | Finance | Dynamic Coordination and Intervention Policy |
2015-12-15 | Wenlan Qian | NUS Business School, National University of Singapore | Finance | Unfair Trade Practices and Financial Intermediary Regulation |
2015-12-7 | Xuemin (Sterling) Yan | Robert J. Trulaske Sr. College of Business | Finance | Fundamental Analysis and the Cross-Section of Stock Returns: A Data-Mining Approach |
2015-12-1 | Shaojun Zhang | The University of Hong Kong | Finance | Systemic Default and Return Predictability in the Stock and Bond Markets |
2015-11-11 | Li An | PBC School of Finance, Tsinghua University | Finance | Lottery-Related Anomalies: The Role of Reference-Dependent Preferences |
2015-11-3 | Zheng Michael Song | Booth School of Business, University of Chicago | Finance | The Rise of China’s Shadow Banking System |
2015-11-3 | Ming Gu (Brown Bag) | Renmin University of China | Finance | Market Regulation and Private Equity Placements in China |
2015-10-27 | Cong Wang | CUHK Business School, The Chinese University of Hong Kong | Finance | |
2015-10-20 | Tao Li | City University of Hong Kong | Finance | |
2015-10-20 | Wei Wang | Stephen J.R. Smith School of Business, Queen’s University | Finance | Catch Me If You Can: Financial Misconduct around Corporate Headquarters Relocations |
2015-9-29 | Brandon Julio | Lundquist College of Business | Finance | |
2015-7-21 | Jennifer Carpenter | Stern School of Business, New York University | Finance | |
2015-7-7 | Kose John | NYU | Finance | Institutions, Markets and Growth: A Theory of Comparative Corporate Governance |
2015-7-6 | Neng Wang | Columbia Business School | Finance | Investment under Uncertainty and the Value of Real and Financial Flexibility |
2015-7-6 | Dion Bongaerts | Rotterdam School of Management, Erasmus University | Finance | |
2015-6-30 | Michael Weisbach | The Ohio State University | Finance | Does Uncertainty about Management Affect Firms’ Costs of Borrowing? |
2015-6-9 | Bing Liang | University of Massachusetts | Finance | The Role of Hedge Funds in the Security Price Formation Process |
2015-6-2 | Yiming Qian | University of Iowa | Finance | |
2015-5-26 | Stavros Panageas | University of Chicago | Finance | |
2015-5-19 | Zhi Da | University of Notre Dame | Finance | Price Pressure from Coordinated Noise Trading: Evidence from Pension Fund Reallocations |
2015-5-19 | Feng Zhang | University of Utah | Finance | |
2015-5-12 | Ronald Masulis | University of New South Wales | Finance | |
2015-5-12 | Adlai Fisher | University of British Columbia | Finance | Levered Noise and the Limits of Arbitrage Pricing: Implications for Dividend S |
CHEN Yubo
CHEN Yubo is Associate Dean, Professor, and Director of Center for Internet Development and Governance at School of Economics and Management, Tsinghua University. He received his Ph.D. in Marketing from the University of Florida, M.Eng. in Systems Engineering and B.Eng. in Industrial Management Engineering from Southeast University. Before joining Tsinghua SEM., he was a tenured professor at Eller College of Management, University of Arizona, USA. He is a recipient of the National Science Fund for Distinguished Young Scholars from the National Natural Science Foundation of China, and selected for the Top-Notch Young Professionals Program of China. Prof. Chen’s main research areas include 1) big data and business innovation in the networked world; 2) market transformation and business analytics in the mobile internet era; 3) digital transformation of Chinese economy, and 4) climate change and sustainability strategy. Prof. Chen has published many articles in top marketing and business journals such as the Journal of Marketing, the Journal of Marketing Research, Marketing Science, and Management Science, including one article been listed as “Most Cited Papers” at Management Science in the last ten years by ISI. His research has won many international awards and recognitions, including INFORMS Frank M. Bass Best Paper Finalist Award, Journal of Marketing MSI/Paul H. Root Award Finalist, Journal of Marketing Research William F. O’Dell Long-term Impact Award Finalist, Journal of Interactive Marketing Best Paper Award and Emerald Citations of Excellence.
Remote Access for iPhone
iPhone Client Configuration:
- Find Cisco AnyConnect in the App Store and install
- Tap ”Connections” in the app
- Tap ”Add VPN Connection…”
- Enter: ckbpn.ckgsb.com, and tap “Save” on the upper right corner
- Tap “Continue…” in the pop-up
- Enter your credentials, and Tap “Connect” on the upper right corner
- Connected
Webrooming
Bing Jing
Most products comprise both digital and inspection attributes. For example, while the style of apparel and shoes can be conveyed online, assessing fit still requires personal inspection. In a discrete model of match, we examine the effects of webrooming in a duopoly. When the match probability of the digital attribute is sufficiently low, a counter-intuitive result is that webrooming increases both firms’ profits. Here the reason is that webrooming induces greater participation. This finding is thus opposite to the general impression from the popular press that webrooming intensifies competition by releasing more information. We then generalize this analysis to a model of continuous match values. Here, webrooming still increases both firms’ profits under broad conditions. The reason is that webrooming informs each consumer about her relative preference over the two firms’ digital attributes and, consequently, her optimal search sequence.
C.S. Agnes CHENG
Biography
Professor Agnes Cheng graduated from National Taiwan University, Taiwan, with a Bachelor of Science degree in Business. She obtained a Master of Science degree in Accounting from National Chengchi University, Taiwan and a Doctor of Philosophy degree in Accountancy from University of Illinois at Urbana-Champaign in the USA.
Professor Cheng taught at Houston from 1986 to 2007. During her appointment in University of Houston, she has also served as the Director of the Asian MBA Programme from 2000 to 2002, Visiting Full Professor in University of Arkansas, USA, from 1999 to 2000 and Visiting Academic Scholar in the Office of Economic Analysis of U.S. Securities and Exchange Commission from 2004 to 2005. Professor Cheng has served as Ourso Distinguished Research Chair in Accounting and Ph.D. Programme Coordinator in Louisiana State University, USA from 2007 to 2013.
Professor Cheng’s current research interest focuses on empirical financial accounting research. Her published work includes a research monograph (Studies in Accounting Research #29, published by American Accounting Association) and numerous articles. She has published articles in journals such as Journal of Accounting Research, The Accounting Review, Journal of Financial Economics, Decision Sciences, Review of Economics and Statistics, Journal of International Business Studies, Journal of Business, Finance and Accounting, Auditing, A Journal of Practice and Theory, Accounting and Business Research, Journal of Management Accounting Research and many others.
Professor Cheng is Co-Editor of Journal of Contemporary Accounting and Economics; and Associate Editor of Journal of International Accounting Research and Journal of Accounting, Auditing & Finance; she also serves on the editorial board of Review of Pacific Basin Financial Markets and Policies (RPBFMP). In the past, Professor Cheng served as editor of Asia-Pacific Journal of Accounting (APJAE, a SSCI Journal) from 2010-2012; the editorial advisory and review board of The Accounting Review from 1992 to 1995, the editorial board for The Review of Business Studies / International Journal of Business from 1994 to1999, the editorial board of The International Journal of Accounting from 1998 to 2000 and the editorial board of Asian Pacific Journal of Accounting and Economics from 2002 to 2004.
Professor Cheng also held some executive positions in professional organizations. She is Asia Society Houston’s Advisory Board Member. She was the President of Chinese Accounting Professors Association of North America (CAPANA) from 1994 to 1995, Vice President, International, of American Accounting Association (AAA) from 1999 to 2001 and Vice President of International Association for Accounting Education and Research (IAAER) from 2002 to 2009. Professor Cheng won the KPMG Research Award in 2010 and Louisiana State University 100 Rainmaker Award in 2009.
Informational Complementarity
Tony Ke, Lin Song
Many products are correlated because they share some similar or common attributes. We show that when these attributes are uncertain to consumers, a complementarity effect can arise among competing products, in the sense that a lower price of one product may increase the demands of others. The effect occurs when consumers optimally search for information about both common and idiosyncratic product attributes prior to purchase. We characterize the optimal search strategy for the correlated search problem and provide the conditions for the existence of the complementarity effect. We further explore the implications of the effect for firm pricing. When firms compete in price, although product correlation may weaken differentiation between the firms, the complementarity effect due to correlated search may raise equilibrium price and profit.
