BUS News

Faculty member wins Best Paper Award at securities and financial markets conference

10 Dec, 2016
Dr. Jason Yi, Research Assistant Professor of the Department of Finance and Decision Sciences, won the Best Paper Award (First Prize) at the 24th Conference on the Theories and Practices of Securities and Financial Markets held in Taiwan from 9-10 December 2016 by National Sun Yat-sen University.
Co-authored with Chuan-Yang Hwang from the Nanyang Technological University and Kit Pong Wong from the University of Hong Kong, the award-winning paper entitled "Why Do High Dispersion Stocks Earn Low Returns? Evidence from Institutional Ownership" uses an innovative way to explain why stocks with high dispersion in analysts’ forecasts will lead to high uncertainty and low returns. The research findings suggested that analyst forecast bias often results in the overpricing of stocks with high dispersion. 
“The research idea is generated from utilising methodology from corporate finance in asset pricing studies,” said
Dr. Yi. “I would say that integrating different research areas helps a lot in my research findings.”