ZHENG, Yue
Source: https://bm.hkust.edu.hk/faculty/zheng-yue Parent: https://bm.hkust.edu.hk/bizinsight/bizstudies
ZHENG, Yue
Associate Professor
Department of Accounting
Recent Activities
HUI, Kai Wai
Insider Trading Deterred by Liberal-Leaning Judges
HKUST-led research shows that judges’ ideological leanings affect the outcomes of insider-trading cases. According to Allen H. Huang, Yue Zheng, and a co-author, liberal judges take an especially strong stance against insider trading, with significant real-world consequences for traders and regulators. Judge ideology is known to influence securities lawsuits ... Read More
[ BizStudies ]
KIMBROUGH, Michael D.
LEE, Hanna
Discovering Value in Corporate Forecasting Errors
Investors, analysts, and other stakeholders rely on a slew of materials when measuring how businesses perform. Some of those materials are issued directly by company executives, and they typically include a particularly important set of documents: management earnings forecasts. Unsurprisingly, management forecasts do not always perfectly predict actual ... Read More
[ BizBites ]
KIMBROUGH, Michael D.
LEE, Hanna
Discovering Value in Corporate Forecasting Errors
Investors, analysts, and other stakeholders rely on a slew of materials when measuring how businesses perform. Some of those materials are issued directly by company executives, and they typically include a particularly important set of documents: management earnings forecasts. Unsurprisingly, management forecasts do not always perfectly predict actual ... Read More
[ BizStudies ]
HANN, Rebecca N.
KIM, Heedong
WANG, Wenfeng
Fighting Friction: Information and Productivity
Higher-quality accounting information results in better resource allocation within industries, Yue Zheng from HKUST and her coauthors have established. Access to accurate accounting data reduces “friction” in information flows, providing external parties with a complete picture of productivity that can improve investment decisions. Productivity measures ... Read More
[ BizStudies ]
CHOI, Jin Kyung
HANN, Rebecca N.
SUBASI, Musa
Effects of Capital Expenditure Forecasts on Corporate Investment Efficiency
The list of analyst research outputs has been expanding over the past decades, and one prominent analyst research output that has become increasingly important is capital expenditure (capex) forecasts. Yet we know little about the effects of capex forecasts, in particular, whether the information conveyed in capex forecasts is useful to investors, and more ... Read More
[ BizStudies ]
The Value of Analysts' Capital Expenditure Forecasts
Financial analysts are important information intermediaries in capital markets. Traditional research outputs of analysts, such as buy/sell recommendations and EPS forecasts, have been the mainstream focus of market participants. In recent years, analyst forecasts of capital expenditures (capex) have become increasingly prevalent—roughly 70 percent of the US ... Read More
[ BizTalks ]
HANN, Rebecca N.
KIM, Heedong
Firms’ Information Environment: Implications for Investors’ and Managers’ Decisions
An earnings announcement – a public statement of a company’s profitability, usually issued on a quarterly basis – provides useful information to assess peer firms’ expected cash flows, as well as the uncertainty regarding their expected cash flows. While there is a large body of research on whether there are intra-industry information transfers around ... Read More
[ BizStudies ]