Wei Huang

TL;DR: In this article, the authors demonstrate that the omission of the previous month's stock returns can lead to a negatively biased estimate of the cross-sectional relation between idiosyncratic risk and expected stock returns.

TL;DR: In this article, the authors demonstrate that the omission of the previous month's stock returns can lead to a negatively biased estimate of the cross-sectional relation between idiosyncratic risk and expected stock returns.

TL;DR: This article found that Qualified Foreign Institutional Investors (QFIIs) have greater influence over the controlling state shareholders than local mutual funds and are less prone to political pressure and are more likely to participate in arm's-length negotiation and monitoring in state controlled companies.

TL;DR: The authors study a transitional economy where state-controlled banks make loan decisions based on noisy inside information on prospective borrowers, and may lend to avert unemployment and social instability, and highlight dilemmas in a state-led financial system and the local stock market's sophistication in interpreting news.

TL;DR: Li et al. as mentioned in this paper study the asset pricing mechanism in Chinese stock markets, with the objective of identifying variables that capture the cross-sectional variation in average stock returns, and find that while the market risk (beta) is not priced, there is a significantly negative relationship between firm-specific risk and expected returns.