Tao Shu

The Chinese University of Hong Kong, Shenzhen

Professor of Finance

Shenzhen Finance Institute

Professor of Finance

SCHOLARLY PAPERS

27

DOWNLOADS
Rank 2,983

SSRN RANKINGS

Top 2,983

in Total Papers Downloads

16,090

SSRN CITATIONS
Rank 6,859

SSRN RANKINGS

Top 6,859

in Total Papers Citations

119

CROSSREF CITATIONS

73

Scholarly Papers (27)

1.

Who Drove and Burst the Tech Bubble?

Journal of Finance, Forthcoming
Number of pages: 145 Posted: 24 Oct 2003 Last Revised: 17 Nov 2010
University of Texas at Austin - Department of Finance, American University - Department of Finance and Real Estate, The Chinese University of Hong Kong, Shenzhen and Queen's University - Smith School of Business
Downloads 2,957 (5,441)
Citation 23

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Stock Market Bubbles, Institutional Trading, Individual Trading

2.

Price Impact or Trading Volume: Why is the Amihud (2002) Measure Priced?

Number of pages: 73 Posted: 10 Jul 2013 Last Revised: 14 Mar 2017
Xiaoxia Lou and Tao Shu
University of Delaware - Alfred Lerner College of Business and Economics and The Chinese University of Hong Kong, Shenzhen
Downloads 1,932 (10,866)
Citation 22

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Amihud illiquidity measure, trading volume, price impact, liquidity premium

3.

Is the Chinese Anti-Corruption Campaign Authentic? Evidence from Corporate Investigations

29th Annual Conference on Financial Economics & Accounting 2018, Finance Down Under 2019 Building on the Best from the Cellars of Finance, Paris December 2018 Finance Meeting EUROFIDAI - AFFI, PBCSF-NIFR Research Paper
Number of pages: 108 Posted: 20 May 2016 Last Revised: 23 Apr 2021
John M. Griffin, Clark Liu and Tao Shu
University of Texas at Austin - Department of Finance, Tsinghua University - PBC School of Finance and The Chinese University of Hong Kong, Shenzhen
Downloads 1,346 (19,061)
Citation 20

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Anti-Corruption Campaign, China, Corrupt Managers, Corrutpion Measures, Corporate Culture

4.

Does Positive-Feedback Trading by Institutions Contribute to Stock Return Momentum?

AFA 2007 Chicago Meetings Paper
Number of pages: 46 Posted: 03 Nov 2005 Last Revised: 02 Jan 2012
Tao Shu
The Chinese University of Hong Kong, Shenzhen
Downloads 1,233 (21,700)
Citation 10

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institutions, postive-feedback trading, momentum

5.

Can Managers Use Discretionary Accruals to Ease Financial Constraints? Evidence from Discretionary Accruals Prior to Investment

Accounting Review, Forthcoming
Number of pages: 52 Posted: 22 Mar 2010 Last Revised: 20 Oct 2015
Southern Methodist University (SMU) - Finance Department, Department of Finance and The Chinese University of Hong Kong, Shenzhen
Downloads 823 (38,670)
Citation 15

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Financial constraints, discretionary accruals, investment, signaling, valuation, external financing

6.

The Convergence and Divergence of Investors’ Opinions around Earnings News: Evidence from a Social Network

Asian Finance Association (AsFA) 2013 Conference, Finance Down Under 2014 Building on the Best from the Cellars of Finance
Number of pages: 64 Posted: 08 Mar 2012 Last Revised: 30 Nov 2018
Citadel, Neeley School of Business and The Chinese University of Hong Kong, Shenzhen
Downloads 815 (39,205)
Citation 9

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investor disagreement, earnings announcements, Twitter, trading volume, convergence of opinion, divergence of opinion

7.

Examining the Dark Side of Financial Markets: Do Institutions Trade on Information from Investment Bank Connections?

Review of Financial Studies, Forthcoming
Number of pages: 50 Posted: 22 Mar 2009 Last Revised: 29 Mar 2012
University of Texas at Austin - Department of Finance, The Chinese University of Hong Kong, Shenzhen and Queen's University - Smith School of Business
Downloads 809 (39,650)
Citation 6

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Institution, Informed, Trading, Short-Term, connections, earnings announcement, takeover

8.

Local Religious Beliefs and Mutual Fund Risk-Taking Behaviors

Number of pages: 34 Posted: 20 Dec 2009 Last Revised: 22 Nov 2011
The Chinese University of Hong Kong, Shenzhen, National University of Singapore (NUS) - Department of Finance and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 728 (45,700)
Citation 29

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Mutual funds, Geographic Location, Religion

9.

Patent Quality, Firm Value, and Investor Underreaction: Evidence from Patent Examiner Busyness

PBCSF-NIFR Research Paper
Number of pages: 64 Posted: 11 Mar 2018 Last Revised: 04 Aug 2021
Tao Shu, Xuan Tian and Xintong Zhan
The Chinese University of Hong Kong, Shenzhen, Tsinghua University - PBC School of Finance and Department of Finance, School of Management, Fudan University
Downloads 723 (46,263)

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patent quality, examiner busyness, stock returns, investor underreaction.

10.

Expectation Management in Mergers and Acquisitions

Management Science, Volume 66, Issue 3, Pages 1205-1226, 2020
Number of pages: 49 Posted: 15 Oct 2014 Last Revised: 24 May 2021
University of Georgia - Department of Finance, Iowa State University, Department of Finance and The Chinese University of Hong Kong, Shenzhen
Downloads 590 (60,213)

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Expectation management, stock-for-stock mergers, acquisition costs, conflicts of interest, earnings surprises

11.

Life is Too Short? Bereaved Managers and Investment Decisions

Proceedings of Paris December 2019 Finance Meeting EUROFIDAI - ESSEC, 27th Annual Conference on Financial Economics and Accounting Paper
Number of pages: 61 Posted: 12 Sep 2015 Last Revised: 30 Aug 2021
Tsinghua University - PBC School of Finance, The Chinese University of Hong Kong, Shenzhen, National University of Singapore (NUS) - Department of Finance and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 559 (64,475)
Citation 3

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Life Experience, Bereavement, Investment Decisions, Mutual Fund, Public Firms, Risk Taking, Endogenous Matching

12.

Nonlocal Disadvantage: An Examination of Social Media Sentiment

Number of pages: 60 Posted: 17 Jun 2011 Last Revised: 27 Apr 2017
Citadel, Neeley School of Business and The Chinese University of Hong Kong, Shenzhen
Downloads 491 (75,504)
Citation 1

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Twitter, Social Network, Individual Investors, Nonlocal Disadvantage, Public News, Overpricing

13.

The Employee Clientele of Corporate Leverage: Evidence from Family Labor Income Diversification

Number of pages: 57 Posted: 05 Dec 2016 Last Revised: 18 May 2020
Jie He, Tao Shu and Huan Yang
University of Georgia - Department of Finance, The Chinese University of Hong Kong, Shenzhen and University of Massachusetts Amherst - Department of Finance
Downloads 389 (99,624)

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clientele effect, family labor income diversification, employee job risk aversion, leverage, capital structure

14.

Institutional Investor Participation and Stock Market Anomalies

Number of pages: 38 Posted: 14 Mar 2006 Last Revised: 30 Oct 2012
Tao Shu
The Chinese University of Hong Kong, Shenzhen
Downloads 381 (101,763)

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Institutional Trading Volume, Anomalies, Price Efficiency

15.
Downloads 360 (108,457)
Citation 29

Default Risk, Shareholder Advantage and Stock Returns

McCombs Research Paper Series No. FIN-05-06
Number of pages: 59 Posted: 21 Mar 2006
Lorenzo Garlappi, Tao Shu and Hong Yan
University of British Columbia (UBC) - Sauder School of Business, The Chinese University of Hong Kong, Shenzhen and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 360 (107,648)
Citation 29

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Default Risk, Stock Returns, Debt Renegotiation, Bankruptcy, Liquidation

Default Risk, Shareholder Advantage, and Stock Returns

The Review of Financial Studies, Vol. 21, Issue 6, pp. 2743-2778, 2008
Posted: 15 Dec 2008
Lorenzo Garlappi, Tao Shu and Hong Yan
University of British Columbia (UBC) - Sauder School of Business, The Chinese University of Hong Kong, Shenzhen and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)

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G12, G14, G33

16.

The Role of External Regulators in Mergers and Acquisitions: Evidence from SEC Comment Letters

Number of pages: 63 Posted: 07 Oct 2019 Last Revised: 14 Sep 2021
Iowa State University, The Chinese University of Hong Kong, Shenzhen, University of Georgia and University of Virginia
Downloads 333 (118,583)
Citation 3

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Information asymmetry; M&A; SEC; Comment letters; Shareholder welfare; Corporate governance; Deal outcomes

17.

The Disappearing IPO Puzzle: New Insights from Proprietary U.S. Census Data on Private Firms

Number of pages: 64 Posted: 26 Mar 2020 Last Revised: 24 Dec 2020
Boston College - Carroll School of Management, University of Georgia - Department of Finance, The Chinese University of Hong Kong, Shenzhen and The Chinese University of Hong Kong, Shenzhen
Downloads 302 (131,322)
Citation 4

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IPOs, Exit Choices, Disappearing IPOs, Private Equity, Weak Economy, Product Market Competition

18.

Default Risk, Shareholder Advantage, and Stock Returns*

8th Annual Texas Finance Festival
Number of pages: 56 Posted: 07 Apr 2006
Lorenzo Garlappi, Tao Shu and Hong Yan
University of British Columbia (UBC) - Sauder School of Business, The Chinese University of Hong Kong, Shenzhen and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 269 (148,067)

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Default Risk, Stock Returns, Debt Renegotiatin, Bankruptcy, Liquidation

19.

Moderated Confidence and Under- and Overreactions to Related Firm's News

Number of pages: 39 Posted: 16 Mar 2011 Last Revised: 24 Jan 2012
University of Georgia - Terry College of Business, The Chinese University of Hong Kong, Shenzhen and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 256 (155,559)
Citation 3

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Moderated Confidence, Underreaction, Overreaction, Information Transfers

20.

Unique Bidder-Target Relatedness and Synergies Creation in Mergers and Acquisitions

Number of pages: 68 Posted: 01 Oct 2018 Last Revised: 13 Oct 2021
Iowa State University, University of Georgia - Department of Finance, The Chinese University of Hong Kong, Shenzhen and Georgia Institute of Technology
Downloads 253 (157,514)
Citation 1

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Distinct Relatedness, Synergies, Mergers and Acquisitions, Conditional Dependence, Lasso, Stock return comovement

21.

Risks in Mergers and Acquisitions

Number of pages: 77 Posted: 19 Mar 2021 Last Revised: 24 Jul 2021
Iowa State University - Department of Accounting and Finance, Iowa State University, The Chinese University of Hong Kong, Shenzhen and University of Dayton
Downloads 206 (191,520)

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Mergers and Acquisitions, Risk-factor disclosure, Risks in M&As, Technology and product, Valuation and fairness, Accounting information, Ownership and dilution, Merger outcomes

22.

Workplace Inequality in the U.S. and Managerial Rent Extraction: Evidence from Pay Growth

Number of pages: 57 Posted: 21 Aug 2020 Last Revised: 05 Jan 2022
Jie He, Lei Li and Tao Shu
University of Georgia - Department of Finance, Board of Governors of the Federal Reserve System and The Chinese University of Hong Kong, Shenzhen
Downloads 108 (326,030)

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within-firm pay inequality, pay growth gap, managerial rent extraction, corporate disclosure, corporate hierarchy, Longitudinal Employer-Household Dynamics database

23.

Similarity Breeds Trust: Political Homophily and CEO-Board Communication

European Corporate Governance Institute – Finance Working Paper No. 808/2021
Number of pages: 57 Posted: 14 Dec 2021 Last Revised: 29 Dec 2021
Chinese University of Hong Kong, ABFER, CEPR, and ECGI, China-ASEAN Institution of Financial Cooperation, The Chinese University of Hong Kong, Shenzhen and The Chinese University of Hong Kong, Shenzhen
Downloads 85 (377,974)

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friendly board, CEO-board communication, political homophily, crash risk, corporate governance

Divergence of Investment Bank Valuation and the Winner’s Curse in Takeovers

Number of pages: 52 Posted: 02 Nov 2021 Last Revised: 01 Dec 2021
Tingting Liu, Tao Shu and Jasmine Wang
Iowa State University, The Chinese University of Hong Kong, Shenzhen and University of Virginia
Downloads 83 (387,204)

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Mergers and acquisitions, winner’s curse, valuation disagreement, acquisition premiums, bidder returns

Divergence of Investment Bank Valuation and the Winner’s Curse in Takeovers

Number of pages: 52 Posted: 02 Nov 2021
Tingting Liu, Tao Shu and Jasmine Wang
Iowa State University, The Chinese University of Hong Kong, Shenzhen and University of Virginia
Downloads 2 (835,617)

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Mergers and acquisitions, winner’s curse, valuation disagreement, acquisition premiums, bidder returns

25.

Nonlocal Disadvantage: An Examination of Social Media Sentiment

Number of pages: 66 Posted: 17 Jun 2011
Citadel, Neeley School of Business and The Chinese University of Hong Kong, Shenzhen
Downloads 50 (492,405)
Citation 8

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Twitter, Social Network, Individual Investors, Nonlocal Disadvantage, Public News, Overpricing

26.

Dividend Policy in the Era of Big Data

Number of pages: 57
Tao Shu
The Chinese University of Hong Kong, Shenzhen
Downloads 7

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Alternative Data; Satellite Imagery Data; Dividend Policy, Outcome Model, Substitute Model, Signaling Model, Corporate Governance

27.

Institutional Investor Participation and Stock Market Anomalies

Journal of Business Finance & Accounting, Vol. 40, Issue 5-6, pp. 695-718, 2013
Number of pages: 24 Posted: 27 Jul 2013
Tao Shu
The Chinese University of Hong Kong, Shenzhen
Downloads 0 (829,731)
Citation 1
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institutional investors, trading volume, anomalies, market efficiency