HUANG, Allen
Source: https://bm.hkust.edu.hk/faculty/huang-allen Parent: https://bm.hkust.edu.hk/bizinsight/bizthemes/data-analytics
HUANG, Allen
Head, Department of Accounting, Professor
Department of Accounting
Recent Activities
WANG, Hui
FinBERT: A Large Language Model for Extracting Information from Financial Text
We develop FinBERT, a state-of-the-art large language model that adapts to the finance domain. We show that FinBERT incorporates finance knowledge and can better summarize contextual information in financial texts. Using a sample of researcher-labeled sentences from analyst reports, we document that FinBERT substantially outperforms the Loughran and McDonald ... Read More
[ Fintech and AI in Business ]
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 ]
BHAMBHWANI, Siddharth M.
DONG, Hui
Empowering Investment through Property Rights Protection
Property rights are core pillars of economic systems, influencing investment decisions by providing legal assurances that ownership will be protected and respected. However, questions remain about their specific relationship with economic outcomes. Helping to answer these questions, Allen H. Huang of HKUST and two colleagues investigate the importance of ... Read More
[ BizStudies ]
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 ]
EDMANS, Alex
FANG, Vivian W.
Vesting Equity Causes CEO Short-termism
The “short-termism” induced by executive pay schemes is a major problem for firms and investors. Allen H. Huang of HKUST, together with overseas colleagues, provides important new insights into the negative consequences of executive myopia. The researchers examined the share repurchasing and mergers-and-acquisitions (M&A) behavior of firms whose CEOs have ... Read More
[ BizStudies ]
LIN, An-Ping
Collaborating to Produce High-Quality Research
Sell-side financial analysts produce, acquire, and disseminate information, playing an important intermediary role in capital markets. Such analysts typically work alongside other analysts in brokerage houses. However, there is only limited understanding of how they collaborate, as most studies have treated financial analysts as isolated figures. HKUST ... Read More
[ BizStudies ]
LIN, An-Ping
Collaborating to Produce High-Quality Research
Sell-side financial analysts produce, acquire, and disseminate information, playing an important intermediary role in capital markets. Such analysts typically work alongside other analysts in brokerage houses. However, there is only limited understanding of how they collaborate, as most studies have treated financial analysts as isolated figures. HKUST ... Read More
[ BizBites ]
How Cautionary Language Help Companies Avoid Lawsuits and Encourage Information Disclosure
Securities class action lawsuits allow investors to recuperate investment losses caused by securities law violations. They are arguably the most significant litigation risk for firms listed in the United States and other major economics such as U.K., Australia and Canada. In these lawsuits, shareholders usually allege that company management defrauds ... Read More
[ BizTalks ]
SHEN, Jianghua
Risk Disclosure Law Has an Unexpected Upside
Publicly-traded firms in the U.S. are legally required to disclose the material risks they face. Although the regulation was designed to protect investors, research by HKUST’s Allen H. Huang and Amy Y. Zang shows that it has unintended benefits for firms too. Working with a graduate of HKUST’s Accounting Ph.D. program, they explored how the legal language of ... Read More
[ BizStudies ]