Mingsheng Li

Bowling Green State University - College of Business Administration

Bowling Green, OH 43403

United States

  • Bowling Green State University - College of Business Administration

SCHOLARLY PAPERS

32

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19

Scholarly Papers (32)

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1.

Determinants of Dividend Policy in Chinese Firms: Cash Versus Stock Dividends

Number of pages: 43 Posted: 27 Sep 2009
Xi He, Mingsheng Li, Jing Shi, Garry J. Twite and Garry J. Twite
Australian National University, Research School of Finance, Actuarial Studies and Applied Statistics, Bowling Green State University - College of Business Administration, Macquarie University and University of Melbourne - Faculty of Business and EconomicsUniversity of Melbourne - Department of Finance
Downloads 1,620 (15,296)
Citation 1

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dividend policy, cash dividend, stock dividend, China, emerging markets

2.

Information-Based Trading, Price Impact of Trades, and Trade Autocorrelation

Number of pages: 35 Posted: 27 May 2004
Kee H. Chung, Mingsheng Li and Thomas H. McInish
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and University of Memphis - Fogelman College of Business and Economics
Downloads 845 (39,541)
Citation 6

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Quote revisions, asymmetric information, price impact, trade autocorrelation

3.

Assets in Place, Growth Opportunities, and IPO Returns

Downloads 490 ( 79,915)
Citation 1

Assets in Place, Growth Opportunities, and IPO Returns

Number of pages: 40 Posted: 04 Aug 2005
Kee H. Chung, Mingsheng Li and Linda Q. Yu
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and University of Wisconsin - Whitewater - Finance and Business Law
Downloads 470 (83,274)

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IPO returns, growth opportunities, assets in place, risk, reservation price

Assets in Place, Growth Opportunities, and IPO Returns

Financial Management, Vol. 34, No. 3, pp. 65-88, Autumn 2005
Number of pages: 24 Posted: 23 Nov 2005
Kee H. Chung, Mingsheng Li and Linda Q. Yu
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and University of Wisconsin - Whitewater - Finance and Business Law
Downloads 20 (706,135)

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4.

Order Imbalance and Liquidity Supply: Evidence from the Bubble Burst of NASDAQ Stocks

Number of pages: 36 Posted: 10 May 2005
Mingsheng Li, Tim McCormick and Xin Zhao
Bowling Green State University - College of Business Administration, U.S. Securities and Exchange Commission and Pennsylvania State University (Erie) - The Behrend College
Downloads 407 (99,429)
Citation 1

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Order imbalance, liquidity, spreads, depths, market makers

5.

Underpricing, Share Retention, and the IPO Aftermarket Liquidity

International Journal of Managerial Finance, Forthcoming
Number of pages: 34 Posted: 31 May 2005
Mingsheng Li, Steven Xiaofan Zheng, Melissa V. Melancon and Melissa V. Melancon
Bowling Green State University - College of Business Administration, University of Manitoba - Asper School of Business and University of Louisiana at Monroeaffiliation not provided to SSRN
Downloads 358 (114,986)

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Initial public offerings, share retention, liquidity, spreads

6.

Stock Versus Cash Dividends: Signaling or Catering

Number of pages: 49 Posted: 15 Mar 2011 Last Revised: 16 Jun 2012
Garry J. Twite, Garry J. Twite, Jing Shi, Xi He and Mingsheng Li
University of Melbourne - Faculty of Business and EconomicsUniversity of Melbourne - Department of Finance, Macquarie University, Australian National University, Research School of Finance, Actuarial Studies and Applied Statistics and Bowling Green State University - College of Business Administration
Downloads 343 (120,455)
Citation 6

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Dividend policy, stock dividend, cash dividend, signalling, China

7.

Why Do Firms Pay Stock Dividends: Is it Just a Stock Split?

Downloads 268 (155,956)

Why Do Firms Pay Stock Dividends: Is it Just a Stock Split?

Number of pages: 48 Posted: 31 Jan 2013
Xi He, Mingsheng Li, Jing Shi, Garry J. Twite and Garry J. Twite
Australian National University, Research School of Finance, Actuarial Studies and Applied Statistics, Bowling Green State University - College of Business Administration, Macquarie University and University of Melbourne - Faculty of Business and EconomicsUniversity of Melbourne - Department of Finance
Downloads 268 (155,323)

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dividend policy, stock dividend, cash dividend, signaling, catering, China

Why Do Firms Pay Stock Dividends: Is it Just a Stock Split?

Australian Journal of Management, Vol. 41, No. 3, 2016
Posted: 30 Jul 2016
Xi He, Mingsheng Li, Jing Shi, Garry J. Twite and Garry J. Twite
Australian National University, Research School of Finance, Actuarial Studies and Applied Statistics, Bowling Green State University - College of Business Administration, Macquarie University and University of Melbourne - Faculty of Business and EconomicsUniversity of Melbourne - Department of Finance

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Dividend policy, stock dividend, stock split

8.

Mutual Fund Flow-Performance Relationship Under Volatile Market Condition

Asian Finance Association (AsFA) 2013 Conference
Number of pages: 40 Posted: 26 Jan 2013
Mingsheng Li, Jing Shi and Jun Xiao
Bowling Green State University - College of Business Administration, Macquarie University and Jiangxi University of Finance and Economics
Downloads 263 (158,978)
Citation 1

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Chinese mutual funds, Flow-performance relationship, Asymmetric relationship, Disposition effect, House money effect, Star effect, Cognitive dissonance, Attribution bias, Overconfidence

9.

Do Secondary Shares in the IPO Process Have a Negative Effect on Aftermarket Performance?

Journal of Banking and Finance, Vol. 31, 2007
Number of pages: 20 Posted: 15 Oct 2007
James C. Brau, Mingsheng Li and Jing Shi
Brigham Young University, Bowling Green State University - College of Business Administration and Macquarie University
Downloads 254 (164,594)
Citation 2

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initial public offerings; aftermarket performance, insider selling

10.

Price Support and Spreads in the IPO Aftermarket: An Empirical Microstructure Study

Number of pages: 34 Posted: 10 May 2005
Mingsheng Li and Robert C. Eisenstadt
Bowling Green State University - College of Business Administration and University of Louisiana at Monroe
Downloads 205 (201,731)
Citation 1

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Initial public offerings, Price stabilization, spread components, over-allotment option

11.

Factors Affecting Secondary Share Offerings in the IPO Process

Quarterly Review of Economics and Finance, No. 49, pp. 1194-1212
Number of pages: 38 Posted: 11 Sep 2009
Daniel P. Klein and Mingsheng Li
Bowling Green State University and Bowling Green State University - College of Business Administration
Downloads 179 (227,421)

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Initial public offerings, secondary share offering, market-timing, window-dressing

12.

Broker Firms' Organisational Structure Changes and the Impact on Analyst Recommendations

Number of pages: 47 Posted: 31 Jan 2017
Haozhi (Rachel) Huang, Mingsheng Li and Jing Shi
Macquarie University, Bowling Green State University - College of Business Administration and Macquarie University
Downloads 165 (243,627)

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Analyst recommendation; Broker firms; Investment banks; Conflicts of interest; Initial Public Offering

13.

Cross-Sectional Analysis of Asymmetric Information after Decimalization

Journal of Business and Economic Perspectives, No, 2, Spring 2005
Number of pages: 31 Posted: 31 May 2005
Mingsheng Li and Michael E. Parker
Bowling Green State University - College of Business Administration and University of Louisiana at Monroe
Downloads 80 (405,739)

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Asymmetric information, Adverse selection cost, decimalization, Market information efficiency

14.

Strategic Use of Dividend Payments by Mutual Funds

Number of pages: 46 Posted: 13 Jul 2016
Jun Xiao, Mingsheng Li and Yugang Chen
Jiangxi University of Finance and Economics, Bowling Green State University - College of Business Administration and Sun Yat-sen University
Downloads 65 (454,042)

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Dividend; Pass through; Conflict of interest; Agency problems; Flow-performance; Irrational behavior; Individual and Institutional investors; Chinese mutual funds

15.

Security Analysis, Dealer-Analyst Collaboration, and Market Quality: Evidence from the Nasdaq Market in the USA

Journal of Business Finance & Accounting, Forthcoming
Number of pages: 43 Posted: 05 Jul 2012
Kee H. Chung, Mingsheng Li and Xin Zhao
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and Pennsylvania State University (Erie) - The Behrend College
Downloads 64 (457,574)

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Analyst following, Dealers, Spreads, Depths, Execution quality, Price impact, Adverse selection cost, Quote aggressiveness, Trading costs, SEC Rule 605

16.

The Danger of Investor Overconfidence

Number of pages: 46 Posted: 16 Mar 2017
Mingsheng Li, Qian Li and Yan Li
Bowling Green State University - College of Business Administration, East China Jiao Tong University and Southwestern University of Finance and Economics (SWUFE) - School of Accounting
Downloads 61 (468,581)

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Investor Attention; Overconfidence; Margin Trade; Market Sentiment; Attribution Bias; Market Efficiency; Price Delay; Chinese Markets

17.

Investor Overconfidence, Margin Trade and Market Efficiency: Evidence Based on a Recent Financial Market Crash

Number of pages: 49 Posted: 07 Dec 2017
Mingsheng Li, Qian Li and Yan Li
Bowling Green State University - College of Business Administration, East China Jiao Tong University and Southwestern University of Finance and Economics (SWUFE) - School of Accounting
Downloads 56 (487,761)

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Investor overconfidence; Margin trade; Attribution bias; Market efficiency; Price delay; Chinese markets

18.

Should Financial Gatekeepers Be Publicly Traded?

Journal of Business Ethics, Forthcoming
Number of pages: 53 Posted: 07 Dec 2017 Last Revised: 20 Oct 2018
Haozhi (Rachel) Huang, Mingsheng Li and Jing Shi
Macquarie University, Bowling Green State University - College of Business Administration and Macquarie University
Downloads 47 (525,977)
Citation 1

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Ethical conduct; Initial public offering; Analyst recommendation; Financial gatekeepers; Broker firms.

19.

Caring for Investors or Preying by Managers? Strategic Use of Dividend Payments by Mutual Funds

Number of pages: 52 Posted: 18 Sep 2015 Last Revised: 28 Jan 2016
Jun Xiao, Mingsheng Li and Yugang Chen
Jiangxi University of Finance and Economics, Bowling Green State University - College of Business Administration and Sun Yat-sen University
Downloads 41 (554,501)

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Dividend chasing; Conflict of interest; Agency problems; Flow-performance; Irrational behavior; Individual and Institutional investors; Chinese mutual funds

20.

Which Matters: 'Paying to Play' or Stable Business Relationship? Evidence on Analyst Recommendation and Mutual Fund Commission Fee Payment

Downloads 36 (580,437)

Which Matters: 'Paying to Play' or Stable Business Relationship? Evidence on Analyst Recommendation and Mutual Fund Commission Fee Payment

Asian Finance Association (AsianFA) 2015 Conference Paper
Number of pages: 46 Posted: 15 Feb 2015
Haozhi (Rachel) Huang, Mingsheng Li and Jing Shi
Macquarie University, Bowling Green State University - College of Business Administration and Macquarie University
Downloads 30 (630,986)

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analyst recommendation, mutual fund, business relationship

Which Matters: 'Paying to Play' or Stable Business Relationship? Evidence on Analyst Recommendation and Mutual Fund Commission Fee Payment

2015 Financial Markets & Corporate Governance Conference
Number of pages: 46 Posted: 30 Jan 2015
Haozhi (Rachel) Huang, Mingsheng Li and Jing Shi
Macquarie University, Bowling Green State University - College of Business Administration and Macquarie University
Downloads 6 (834,631)

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Business relationship, analyst recommendation, mutual fund

Which Matters: 'Paying to Play' or Stable Business Relationship? Evidence on Analyst Recommendation and Mutual Fund Commission Fee Payment

Pacific-Basin Finance Journal, Vol. 40, No. Dec, 2016
Posted: 07 Dec 2017
Haozhi (Rachel) Huang, Mingsheng Li and Jing Shi
Macquarie University, Bowling Green State University - College of Business Administration and Macquarie University

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Chinese mutual funds; Open-ended equity funds; Analyst recommendation; Stable business relationship; Customer relationship management.

21.

Security Analysis, Dealer‐Analyst Collaboration, and Market Quality: Evidence from the NASDAQ Market in the USA

Journal of Business Finance & Accounting, Vol. 39, Issue 9‐10, pp. 1376-1402, 2012
Number of pages: 27 Posted: 12 Jan 2013
Kee H. Chung, Mingsheng Li and Xin Zhao
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and University of International Business and Economics (UIBE)
Downloads 1 (856,128)

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NASDAQ, analyst following, dealers, spreads, depths, execution quality, price impact, adverse selection cost, quote aggressiveness, trading costs, SEC Rule 605

22.

Catering to Behavioral Demand for Dividends and Its Potential Agency Issue

Pacific-Basin Finance Journal, Vol. 46, 269-291
Posted: 07 Dec 2017
Jun Xiao, Mingsheng Li and Yugang Chen
Jiangxi University of Finance and Economics, Bowling Green State University - College of Business Administration and Sun Yat-sen University

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Dividend pass-through; Agency problems; Flow-performance; Behavioral demand; Individual investors; Chinese mutual funds

23.

Empirical Analysis of ETF Intraday Trading

Financial Services Review, Vol. 21, (2012)
Posted: 15 Jul 2016
Mingsheng Li, Daniel P. Klein and Xin Zhao
Bowling Green State University - College of Business Administration, Bowling Green State University and Pennsylvania State University (Erie) - The Behrend College

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Exchange Traded Funds, Leveraged ETFs, Leveraged inverse ETFs, Bear market, Financial crisis, Intraday trade pattern, Basket securities

24.

Impact of Leveraged ETF Trading on the Market Quality of Component Stocks

North American Journal of Economics and Finance 28 (2014), p90-108
Posted: 15 Jul 2016
Mingsheng Li and Xin Zhao
Bowling Green State University - College of Business Administration and Pennsylvania State University (Erie) - The Behrend College

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Exchange traded funds; ETFs; Leveraged ETFs; Liquidity; Market Volatility

25.

Which Matters: 'Paying to Play' or Stable Business Relationships? Evidence on Analyst Recommendations and Mutual Fund Commission Fee Payments

Pacific-Basin Finance Journal, Forthcoming
Posted: 15 Jul 2016
Haozhi (Rachel) Huang, Mingsheng Li and Jing Shi
Macquarie University, Bowling Green State University - College of Business Administration and Macquarie University

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Chinese mutual funds, Open-ended equity funds, Analyst recommendation, Stable business relationship, Customer relationship management

26.

Volatile Market Condition and Investor Clientele Effects on Mutual Fund Flow Performance Relationship

Pacific-Basin Finance Journal, Vol. 29, Pp. 310-334, 2014
Posted: 13 Jul 2016
Jun Xiao, Mingsheng Li and Jing Shi
Jiangxi University of Finance and Economics, Bowling Green State University - College of Business Administration and Macquarie University

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Chinese Mutual Funds; Flow-Performance Relationship; Asymmetric Relationship; Disposition Effect; House Money Effect; Star Effect; Cognitive Dissonance; Attribution Bias; Overconfidence; Smart Money Effect; Investor Clientele

27.

Neighborhood Effect on Stock Price Comovement

Downloads 0 (874,031)

Neighborhood Effect on Stock Price Comovement

North American Journal of Economics and Finance, Vol. 35, Pp. 1-22, 2016
Posted: 13 Jul 2016
Mingsheng Li and Zhao Xin
Bowling Green State University - College of Business Administration and Independent

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Price Co-movement; Local Bias; Asset Category; Geographic Proximity; Social Interaction; Investor Behavior

Neighborhood Effect on Stock Price Comovement

North American Journal of Economics and Finance, January 2016, 35, 1-22
Posted: 11 Dec 2017
Mingsheng Li and Xin Zhao
Bowling Green State University - College of Business Administration and Pennsylvania State University (Erie) - The Behrend College

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Price comovement; Local Bias; Asset Category; Geographic Proximity; Social Interaction; Investor Behavior

28.

Analyst Reputation, Dealer Affiliation and Market Making

Journal of Financial Research, Vol. 31, No. 4, 2008
Posted: 11 Sep 2009
Mingsheng Li and Zhao Xin
Bowling Green State University - College of Business Administration and Independent

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market making, analyst coverage, analyst reputation, quote aggressiveness

29.

Foreign Exchange Rate Exposure and Risk Premium in International Investments: Evidence from American Depositary Receipts

Journal of Multinational Financial Management, Forthcoming
Posted: 15 Oct 2007
Sung C. Bae, Taek H. Kwon and Mingsheng Li
Bowling Green State University - Department of Finance, Chonnam National University and Bowling Green State University - College of Business Administration

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foreign exchange rate exposure; foreign exchange risk premium; American Depositary Receipts

30.

Underpricing, Ownership Dispersion, and Aftermarket Liquidity of IPO Stocks

Journal of Empirical Finance, Forthcoming
Posted: 11 Oct 2007 Last Revised: 18 Feb 2019
Steven Xiaofan Zheng and Mingsheng Li
University of Manitoba - Asper School of Business and Bowling Green State University - College of Business Administration

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Initial public offering, IPO, underpricing, liquidity, ownership

31.

Asymmetric Information in the IPO Aftermarket

Posted: 17 Apr 2005
Mingsheng Li, Thomas H. McInish and Udomsak Wongchoti
Bowling Green State University - College of Business Administration, University of Memphis - Fogelman College of Business and Economics and Massey University - School of Economics and Finance

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initial public offerings, asymmetric information, adverse selection cost

32.

Adverse-Selection Costs and the Probability of Information-Based Trading

Posted: 22 Jul 2003
Kee H. Chung and Mingsheng Li
State University of New York at Buffalo - School of Management and Bowling Green State University - College of Business Administration

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