WANG, Shiheng
Source: https://bm.hkust.edu.hk/faculty/wang-shiheng Parent: https://bm.hkust.edu.hk/bizinsight/bizbites
WANG, Shiheng
Associate Professor
Department of Accounting
Recent Activities
KRAFT, Pepa
Detecting Fraud Using Changes in Credit Ratings
Do credit rating actions predict accounting fraud? The answer is yes, according to Allen H. Huang and Shiheng Wang of HKUST and their colleague. Their study also suggests that evidence of fraudulent accounting is strongest when it comes from issuer-paid credit rating agencies (CRAs); their investor-paid rivals are less able to detect fraud signals ... Read More
[ BizBites ]
KRAFT, Pepa
Detecting fraud using changes in credit ratings
Do credit rating actions predict accounting fraud? The answer is yes, according to Allen H. Huang and Shiheng Wang of HKUST and their colleague. Their study also suggests that evidence of fraudulent accounting is strongest when it comes from issuer-paid credit rating agencies (CRAs); their investor-paid rivals are less able to detect fraud signals ... Read More
[ BizStudies ]
The Usefulness of Credit Ratings for Accounting Fraud Prediction
Accounting fraud imposes significant costs on firms and their stakeholders in the forms of higher costs of capital, inefficient resource allocation, regulatory sanctions, and investment losses. Not surprisingly, stakeholders, regulators, and researchers are interested in fraud detection. Credit rating agencies are one of the most important information ... Read More
[ BizTalks ]
KRAFT, Pepa
YU, Gwen
Market Power and Credit Ratings Globally and in Japan
Recent decades have seen extraordinary growth in cross-border debt financing as financial systems become more globally integrated and companies take advantage of foreign markets to share risk, increase liquidity, and obtain cheaper capital. In the first study to comprehensively identify corporate rating patterns for a broad set of international firms, HKUST ... Read More
[ BizStudies ]
HOU, Kewei
HSU, Po-Hsuan
WATANABE, Akiko
XU, Yan
The “R&D Effect” is Real but Risky
Research and development (R&D) is a major contributor to technological progress and economic well-being. From the standpoint of the individual firm, R&D is a key aspect of doing business and a determinant of long-term growth. In the U.S., R&D intensive firms enjoy higher market valuations and greater stock returns than their peers. HKUST researcher Shiheng ... Read More
[ BizStudies ]
LI, Xi
Improved Understanding of Market Efficiency
A one-off event provided HKUST researchers with an unparalleled opportunity to investigate a “hot topic” related to stock markets: post-earnings announcement drift, or PEAD. It is defined as a significantly positive relation between currently announced earnings “surprises” (when results are above or below expectations) and subsequent stock returns. What ... Read More
[ BizStudies ]
TAN, Hongping
WELKER, Michael
Accounting Harmonization: Impacts on Analyst Following and Accuracy
Accounting harmonization plays an important role in global capital markets. A single set of financial reporting standards around the world potentially can facilitate cross-border comparisons of financial data and make it easier for analysts to cover foreign firms by lowering information acquisition costs. It can also improve forecast accuracy by helping ... Read More
[ BizStudies ]
How the Adoption of IFRS Accounting Rules Affects the Timing of Equity Issuance
The mandatory application of International Financial Reporting Standards (IFRS) may help to level the playing field as far as accounting practices are concerned, but the transition to them also offers managers an opportunity to time equity issuance. This was the conclusion of research by Shiheng Wang and Michael Welker that looked at firms in 15 countries ... Read More
[ BizStudies ]