In this paper, we introduce two measures of allotment ratios for small investors to examine the strategic share allocation strategy of IPO underwriters in Hong Kong. Employing a sample of 267 IPOs from 1993 to 1997 and statistical analyses including two-sample comparisons and regression models,...

Academic institutions are ranked on a global scale in terms of finance literature productivity. US institutions are dominant in academic publishing although European and Asian institutions have improved significantly in recent years. Additionally, we study the relationship between the quality of...

We examine pedigree and placement effects of research productivity in finance and find a notable placement effect: authors who are currently affiliated with "elite" institutions tend to be more productive, especially among the top three finance journals. The placement effect, however, weakens in...

We examine the extent to which security analysts are homogeneous in their effect on firm valuation as measured by Tobin's "Q". Earlier research documents a significant and positive relation between analyst coverage and firm valuation. We identify three classes of equity analysts and examine...

We provide a global ranking of accounting research and examine the elite degree and elite affiliation effect. Based on 24 accounting journals during the period 1991-2005, the top 5 most productive countries in accounting research are in the following order: the USA, the UK, Australia, Canada and...

This study ranks the research productivity in finance across European universities and researchers using a set of 15 finance journals during the decade of the 1990s. A total of 219 universities are ranked. During the sample period from 1990 to 1999, UK universities dominate the top-20 ranking....

We provide a long-term assessment of finance research in the Asia-Pacific region. Similar to the earlier findings in Chan et al. (2001) and Chan et al. (2005), the Asia-Pacific academic institutions, as a group, perform very well during 1990-2008. The two quality-adjusted weighted article...

Previous research on R-square has focused on the cross-sectional effects of the level of R-square and the results are mixed. We argue that changes in R-square can capture how new information is incorporated into stock prices. We examine the changes in R-square and stock price synchronicity upon...