All Outputs (15)

Mutual fund herding and performance: Evidence from China (2024)
Journal Article
Fan, Y., Song, Q., Guan, R., Ly, K. C., & Jiang, Y. (2024). Mutual fund herding and performance: Evidence from China. International Review of Financial Analysis, 95, Article 103503. https://doi.org/10.1016/j.irfa.2024.103503

We investigate the impact of mutual fund herding on fund performance. Using a novel and dynamic measure of fund-level herding that captures the tendency of a fund manager to imitate the trading decisions of the institutional crowd based on a sample o... Read More about Mutual fund herding and performance: Evidence from China.

The relationship between heterogeneous institutional investors' shareholdings and corporate ESG performance: Evidence from China (2024)
Journal Article
Liu, Y., Jin, X. M., Ly, K. C., & Mai, Y. (2024). The relationship between heterogeneous institutional investors' shareholdings and corporate ESG performance: Evidence from China. Research in International Business and Finance, 71, Article 102457. https://doi.org/10.1016/j.ribaf.2024.102457

This study examines the relationship between a company's Environmental, Social and Corporate Governance (ESG) performance and the relevant institutional investors' shareholdings. The findings indicate that institutional investors' shareholding has a... Read More about The relationship between heterogeneous institutional investors' shareholdings and corporate ESG performance: Evidence from China.

Do ‘Lehman Sisters’ work in China? Women on boards and bank risk (2024)
Journal Article
Huang, Y., Fang, F., Fan, Y., & Ly, K. C. (2024). Do ‘Lehman Sisters’ work in China? Women on boards and bank risk. International Review of Financial Analysis, 93, 103129. https://doi.org/10.1016/j.irfa.2024.103129

We investigate how women on boards impact bank risk in China. Using a merged dataset containing 83 Chinese banks for the period of 2006–2019, we find that more women on boards could reduce bank risk in China. We further provide the evidence that risk... Read More about Do ‘Lehman Sisters’ work in China? Women on boards and bank risk.

Institutional investor networks and firm innovation: Evidence from China (2023)
Journal Article
Fan, Y., Ly, K. C., & Jiang, Y. (2023). Institutional investor networks and firm innovation: Evidence from China. International Review of Financial Analysis, 89, Article 102751. https://doi.org/10.1016/j.irfa.2023.102751

We examine the impact of institutional investor networks on firm innovation in China. Employing the unexpected departure of mutual fund managers and the inclusion of the Shanghai-Shenzhen 300 index as identifications, we find that institutional inves... Read More about Institutional investor networks and firm innovation: Evidence from China.

Does national culture impact trade credit provision of SMEs? (2023)
Journal Article
Hoang, C. H., Ly, K. C., Xiao, Q., & Zhang, X. (2023). Does national culture impact trade credit provision of SMEs?. Economic Modelling, 124, Article 106288. https://doi.org/10.1016/j.econmod.2023.106288

Trade credit provision considerably varies from country to country, especially among small- and medium-sized enterprises (SMEs). However, there is scant literature on the determinants of such variations. Thus, this study determines how cultural diffe... Read More about Does national culture impact trade credit provision of SMEs?.

Do banks adjust their liquidity to cope with environmental variation? A study of bank deregulation (2021)
Journal Article
Fan, Y., Jiang, Y., & Ly, K. C. (2022). Do banks adjust their liquidity to cope with environmental variation? A study of bank deregulation. Journal of International Financial Markets, Institutions and Money, 76, Article 101485. https://doi.org/10.1016/j.intfin.2021.101485

The effect of bank deregulation on adjustment speed of bank liquidity is the focus of this paper. We find that banks tend to increase their adjustment speed of liquidity in response to bank deregulation. Banks tend to escape their current states and... Read More about Do banks adjust their liquidity to cope with environmental variation? A study of bank deregulation.

Does rising corporate social responsibility promote firm tax payments? New perspectives from a quantile approach (2021)
Journal Article
Van, H. V., & Ly, K. C. (2021). Does rising corporate social responsibility promote firm tax payments? New perspectives from a quantile approach. International Review of Financial Analysis, 77, Article 101857. https://doi.org/10.1016/j.irfa.2021.101857

Studies of the linkage between CSR and firms' tax payment often use mean regression strategies and focus on developed economies. Using panel data from Vietnamese firms, this study finds that CSR has insignificant effects on firm tax payments when app... Read More about Does rising corporate social responsibility promote firm tax payments? New perspectives from a quantile approach.

Did Basel regulation cause a significant procyclicality? (2021)
Journal Article
Ly, K. C., & Shimizu, K. (2021). Did Basel regulation cause a significant procyclicality?. Journal of International Financial Markets, Institutions and Money, 73, Article 101365. https://doi.org/10.1016/j.intfin.2021.101365

This paper examines the procyclical effect of risk-sensitive capital regulation on bank lending. We find evidence that the sensitivity of bank lending to GDP is significantly positive under the internal rating-based approach. Our findings show that t... Read More about Did Basel regulation cause a significant procyclicality?.

Are bonds blind? Board-CEO social networks and firm risk (2021)
Journal Article
Fan, Y., Boateng, A., Ly, K. C., & Jiang, Y. (2021). Are bonds blind? Board-CEO social networks and firm risk. Journal of Corporate Finance, 68, Article 101922. https://doi.org/10.1016/j.jcorpfin.2021.101922

We examine the impact of social networks between independent directors and the CEO on firm risk. Employing the deaths and retirements of socially connected independent directors and the passage of the 2002 Sarbanes-Oxley Act for two identifications,... Read More about Are bonds blind? Board-CEO social networks and firm risk.

The role of bank affiliation in bank efficiency: a fuzzy multi-objective data envelopment analysis approach (2020)
Journal Article
Do, D. T., Boubaker, S., Do, T., Hammami, H., & Ly, K. C. (2022). The role of bank affiliation in bank efficiency: a fuzzy multi-objective data envelopment analysis approach. Annals of Operations Research, 311(2), 611-639. https://doi.org/10.1007/s10479-020-03817-z

This paper examines differences in bank efficiency between banks affiliated with single-bank holding companies and those affiliated with multi-bank holding companies by applying a fuzzy multi-objective two-stage data envelopment analysis technique. U... Read More about The role of bank affiliation in bank efficiency: a fuzzy multi-objective data envelopment analysis approach.

Can parents protect their children? Risk comparison analysis between affiliates of multi- and single-bank holding companies (2018)
Journal Article
Ly, K. C., Liu, F. H., & Opong, K. (2018). Can parents protect their children? Risk comparison analysis between affiliates of multi- and single-bank holding companies. Journal of Financial Stability, 37, 1-10. https://doi.org/10.1016/j.jfs.2018.05.001

© 2018 Elsevier B.V. We find that multi-bank holding companies (MBHCs) in the U.S. have lower insolvency risk than single-bank holding companies (SBHCs) at the parent level, but have significantly higher insolvency risk than the latter at the subsidi... Read More about Can parents protect their children? Risk comparison analysis between affiliates of multi- and single-bank holding companies.

Funding liquidity risk and internal markets in multi-bank holding companies: Diversification or internalization? (2018)
Journal Article
Ly, K. C., & Shimizu, K. (2018). Funding liquidity risk and internal markets in multi-bank holding companies: Diversification or internalization?. International Review of Financial Analysis, 57, 77-89. https://doi.org/10.1016/j.irfa.2017.12.011

© 2018 Elsevier Inc. This study examines how a multi-bank holding company (MBHC) manages funding liquidity risk through its internal liquidity market, how its internal liquidity market works, and the benefits that its member banks enjoy. The results... Read More about Funding liquidity risk and internal markets in multi-bank holding companies: Diversification or internalization?.

Were regulatory interventions effective in lowering systemic risk during the financial crisis in Japan? (2017)
Journal Article
Shimizu, K., & Ly, K. C. (2017). Were regulatory interventions effective in lowering systemic risk during the financial crisis in Japan?. Journal of Multinational Financial Management, 41, 80-91. https://doi.org/10.1016/j.mulfin.2017.07.001

This study empirically examines the effectiveness of various regulatory interventions on systemic risk during the financial crisis in Japan. Our findings generally show that the regulatory interventions worked effectively through the liquidity provis... Read More about Were regulatory interventions effective in lowering systemic risk during the financial crisis in Japan?.

Who acquires whom among stand-alone commercial banks and bank holding company affiliates? (2016)
Journal Article
Cuong Ly, K., Liu, H., & Opong, K. (2017). Who acquires whom among stand-alone commercial banks and bank holding company affiliates?. International Review of Financial Analysis, 54, 144-157. https://doi.org/10.1016/j.irfa.2016.11.003

This paper presents the difference in the likelihood of being targets or acquirers among stand-alone banks, single-bank holding company (SBHC) affiliates and multi-bank holding company (MBHC) affiliates. Using a sample of U.S. commercial bank data fr... Read More about Who acquires whom among stand-alone commercial banks and bank holding company affiliates?.

The Basel III net stable funding ratio adjustment speed and systemic risk (2016)
Journal Article
Ly, K. C., Chen, Z., Wang, S., & Jiang, Y. (2017). The Basel III net stable funding ratio adjustment speed and systemic risk. Research in International Business and Finance, 39(Part A), 169-182. https://doi.org/10.1016/j.ribaf.2016.07.031

© 2016 Elsevier B.V. The theory on the timing of liquidity trades highlights two contrasting rational expectations equilibria for the liquidity adjustment speed effect, namely an immediate-trading equilibrium (trade at the onset of the liquidity shoc... Read More about The Basel III net stable funding ratio adjustment speed and systemic risk.