In 2015, China's A-share market experienced violent abnormal volatility. The Shanghai stock exchange index lost about 40% from its peak record in May. Injections of government bailout funds failed to calm the market. Investors suffered great losses and the individual investor dominated trading sphere was overwhelmed by fear, doubt, anxiety, and despair.
||Thursday, 28 January 2016
(Registration at 14:30pm)
Dushu Lake Ballroom
Jinji Lake Grand Hotel,
Suzhou, China (view address)
Dress code: office attire
*The lecture is in Chinese only
What were the causes of this unpleasant stock market adjustment? Over-confident market expectation? Misuse of leverage? Flaws in the trading system? Or the lack of sophistication of the investors themselves? Professor Li will review the finance literature and present a series of quantitative analyses to provide his insights.
His analyses illustrates the importance of policy guidance on investors to reduce speculative behaviors and nurture them to make informed value investment. The government can proactively guide investments through industrial policies. It is also important to deploy appropriate taxation policies to encourage long holding period and reduce market volatility.
About The Speakers
Professor Oliver Zhen Li
Professor of Accounting department
Director of China Business Centre
National University of Singapore Business School
Professor Li joined the Accounting Department of the National University of Singapore in June, 2011. He obtained his PhD degree in Accountancy from the University of Arizona in 2003. Before joining NUS, he was an Assistant Professor of Accountancy at the University of Notre Dame and an Associate Professor of Accountancy at the University of Arizona. Professor Li's research interests include individual and corporate taxation, financial accounting, corporate finance and capital markets, cost of capital, corporate social responsibility disclosures, as well as various China-related topics. His research papers have been published in leading finance, accounting and economics journals such as Journal of Finance, Journal of Financial Economics, Journal of Accounting and Economics, Journal of Accounting Research, Accounting Review, Review of Accounting Studies, Contemporary Accounting Research and National Tax Journal. His research has won many awards, such as the American Taxation Association Outstanding Manuscript Award, the American Taxation Association / PricewaterhouseCoopers Outstanding Tax Dissertation Award, and the American Accounting Association Southwest Regional Meeting Distinguished Paper Award. He has served on the editorial boards of journals such as Accounting Review and the Journal of the American Taxation Association. He regularly serves as a referee for many leading academic journals.