Advances in Pacific Basin Business, Economics and Finance

Cheng-Few Lee is a Distinguished Professor of Finance at Rutgers Business School, Rutgers University and was chairperson of the Department of Finance from 1988–1995. He has also served on the faculty of the University of Illinois (IBE Professor of Finance) and the University of Georgia. Professor Lee founded the Review of Quantitative Finance and Accounting (RQFA) in 1990 and the Review of Pacific Basin Financial Markets and Policies (RPBFMP) in 1998, and serves as managing editor for both journals. Professor Lee has also published more than 220 articles in well-known journals in finance, accounting, economics, statistics, and management. Min-Teh Yu is Chair Professor at National Chiao Tung University. He was President of Providence University and China University of Technology, and Dean of College of Management at Yuan Ze University and National Chiao Tung University. He received his Ph.D. from Ohio State University. His writings have appeared in Journal of Banking and Finance, Journal of Risk and Insurance, Journal of Financial Service Research, Journal Real Estate Economics and Finance, Journal of Business Finance and Accounting, Journal of Derivatives, Journal of Futures Markets, Quantitative Finance, Geneva Papers on Risk and Insurance Theory, Astin Bulletin, Insurance: Mathematics and Economics, and ANOR.

• Chapter 1. Divergent Opinion, Trading Information and Stock Price Co-movements; Lin Chen, Junbo Wang, Chunchi Wun and Hongquan Zhu Chapter 2. Assessing Asset Tail Risk with Artificial Intelligence: The Application of Artificial Neural Network; Ying L. Becker, Lin Guo, and Odilbek Nurmamatov Chapter 3. Option Pricing with Markov Switching Stochastic Volatility Models; Yiying Cheng Chapter 4. Further Evidence of Momentum in Corporate Bond Returns; Hai Lin, Xinyuan Stacie Tao, Junbo Wang, and Chunchi Wu Chapter 5. The Causes and Consequences of Stock Pledging by Controlling Shareholders: The Case of Taiwan; Alan T. Wang and Anlin Chen Chapter 6. Japanese SEOs before the Lost Decade: a Revisit of the Long-Run Stock Performance; Peter Dadalt, Sirapat Polwitoon and Ali Zadeh Chapter 7. Firm Characteristics and Capital Structure: Evidence from ASEAN Economies; Chin Chia Liang, Yuwen Liu, Carol Troy, and Wen Wen Chen Chapter 8. Impact of Oversubscription Ratio and Trading Volume on IPO First Three-day Initial Return; Hon-Wei Leow and Wee-Yeap Lau Chapter 9. Does Participating in Physical Activities Raise Starting Salaries of Female College Graduates? Evidence from an Asian Society; Shih-Yung Chiu Chapter 10. On Market Property Right, Its Cost Components and Economic Significance; Fanhua Zeng. Yangfen Wu, and Wei-chiao Huang Chapter 11. The Spillover Effect of the US-China Trade War on Taiwan’s Economy; Peter C.Y. Chow