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Nianhang Xu
Renmin University of China
16Publications
9H-index
334Citations
Publications 16
Newest
Published on Mar 1, 2018in Journal of Banking and Finance 1.93
Yue Pan1
Estimated H-index: 1
(Ha Tai: Xiamen University),
Ruoyu Weng1
Estimated H-index: 1
(Ha Tai: Xiamen University)
+ 1 AuthorsKam C. Chan28
Estimated H-index: 28
(Western Kentucky University)
We propose and test a social outreach hypothesis of family firm succession. We argue that family firms proactively engage in social outreach activities as a strategy to ensure smooth succession. We focus on corporate philanthropy (CP), a social outreach activity, in a family firm succession to test our hypothesis. The results show that family firms engage in a strategy of using more CP in connection to family firm succession, especially when the successor is from the second generation. The findi...
4 Citations Source Cite
Published on Jan 1, 2018in Journal of Small Business Management 3.25
Nianhang Xu9
Estimated H-index: 9
,
Yining Chen12
Estimated H-index: 12
+ 1 AuthorsKam C. Chan28
Estimated H-index: 28
(ZUEL: Zhongnan University of Economics and Law)
We use Resource Dependency Theory and Human Capital Theory to explain entrepreneurship research, which is a relatively new research field over the last decade. Using citation analysis based on a rich database of 191,695 citations on 2,154 entrepreneurship articles published in leading journals from 2002 to 2013, we find that geographic diversity, international collaboration, top research scholars, and top research institutions enhance entrepreneurship research quality, which is measured by the n...
1 Citations Source Cite
Nianhang Xu9
Estimated H-index: 9
(RUC: Renmin University of China),
Xuanyu Jiang5
Estimated H-index: 5
(Central University, India)
+ 1 AuthorsShinong Wu2
Estimated H-index: 2
(Ha Tai: Xiamen University)
Using a rich database of Chinese firms, we examine the proposition that firms with disproportionately more analysts herding, as measured by a larger herding index value, have higher future stock price crash risk. Our findings are consistent with the proposition and are robust to different measures of stock price crash risk, stock price crash risk windows, herding measures, and subsamples. In addition, we document that the positive relation between analyst herding behavior and future stock price ...
7 Citations Source Cite
Published on Nov 1, 2016
Xiaorong Li2
Estimated H-index: 2
(CUFE: Central University of Finance and Economics),
Nianhang Xu9
Estimated H-index: 9
(RUC: Renmin University of China)
+ 1 AuthorsWei Luo (PKU: Peking University)
Source Cite
Published on Oct 1, 2016in Journal of Corporate Finance 2.21
Nianhang Xu9
Estimated H-index: 9
(RUC: Renmin University of China),
Qinyuan Chen1
Estimated H-index: 1
(RUC: Renmin University of China)
+ 1 AuthorsKam C. Chan28
Estimated H-index: 28
(Western Kentucky University)
We examine the relation between political uncertainty and cash holdings for firms in China. We document that, during the first year of a new city government official's appointment, a firm, on average, holds less cash, which is consistent with the grabbing hand hypothesis of politician. Our results are robust to alternative measures of cash holdings, instrumental variable estimation, sub-samples without firms in four major cities, a matched sample approach, and placebo tests. In addition, our add...
18 Citations Source Cite
Published on Jul 17, 2016in Journal of Accounting, Auditing & Finance
Xuanyu Jiang5
Estimated H-index: 5
(CUFE: Central University of Finance and Economics),
Nianhang Xu9
Estimated H-index: 9
(RUC: Renmin University of China)
+ 1 AuthorsKam C. Chan28
Estimated H-index: 28
(Western Kentucky University)
We contend that mutual-fund-affiliated analysts have conflicts of interest in their role of information production. Similar to the investment-bank-affiliated analysts (Malmendier & Shanthikumar, 2014), mutual-fund-affiliated analysts are very likely to speak in two tongues, issuing optimism-biased recommendations to please their mutual fund clients due to the clients’ holdings of the stocks but less optimistic forecasts for their covered firms to provide firm-specific information for mutual fund...
2 Citations Source Cite
Published on Jul 16, 2016
Li Jin1
Estimated H-index: 1
(PKU: Peking University),
Nianhang Xu9
Estimated H-index: 9
(RUC: Renmin University of China),
Weining Zhang1
Estimated H-index: 1
(Cheung Kong Graduate School of Business)
We document that Chinese city officials are more likely to be promoted if firms under their jurisdictions receive less negative media coverage towards their term-ends. Consequently, local officials suppress negative news of local companies at their term-ends. Such distortion worsens the information environment. We show that a trading strategy exploiting this informational inefficiency can generate a 12% per annum abnormal return. We also find that officials with stronger career concerns are more...
3 Citations Source Cite
Nianhang Xu9
Estimated H-index: 9
(RUC: Renmin University of China),
Kam C. Chan28
Estimated H-index: 28
(Western Kentucky University),
Chih-Hsiang Chang9
Estimated H-index: 9
(NUK: National University of Kaohsiung)
Abstract We conduct rankings on finance programs based on a rich database of citations for all articles from a set of 23 quality finance journals during 1990–2010. Our work represents a new perspective on the evaluation of faculty research as compared to the traditional counting of total number of publications in the literature. Our findings show that the top-five institutions are the University of Chicago, Harvard University, New York University, the University of Pennsylvania, and Duke Univers...
9 Citations Source Cite
Published on Dec 28, 2015
Qiao Liu (HKU: University of Hong Kong), Wei Luo (PKU: Peking University), Nianhang Xu9
Estimated H-index: 9
(RUC: Renmin University of China)
We show that executives in the Chinese listed firms make politically motivated investments to build political ties. We also find that excessive investments are more pronounced in firms that can benefit more from political connections (e.g., private firms and poorly governed firms). Although such investments are largely inefficient, and adversely affect firm performance, we find that political connections allows firm owners/executives to extract private benefits including tunneling resources, fas...
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Published on Aug 1, 2015in Journal of Corporate Finance 2.21
Nianhang Xu9
Estimated H-index: 9
(RUC: Renmin University of China),
Qingbo Yuan7
Estimated H-index: 7
(University of Melbourne)
+ 1 AuthorsKam C. Chan28
Estimated H-index: 28
(Western Kentucky University)
We examine whether a specialized asset of family firms, founders' political connections, influences the second generation involvement in family firms in China. We further investigate the impact of such second generation involvement on firm performance. The findings suggest that founders' political connections are a critical factor in the decision of second generation involvement, with politically connected founders more likely to appoint a second generation as a family firm chairman, CEO, or dir...
32 Citations Source Cite
12