Sandy Lai
University of Hong Kong
31 Papers
203 Citations
Sandy Lai is an academic researcher from University of Hong Kong. The author has contributed to research in topics: Equity (finance) & Stock (geology). The author has an hindex of 15, co-authored 31 publications. Previous affiliations of Sandy Lai include Singapore Management University.
Chat about Author
Papers
International Diversification with Large- and Small-Cap Stocks
Cheol S. Eun,Wei Huang,Sandy Lai +2 more
TL;DR: In this paper, the authors assess the potential of small-cap stocks as a vehicle for international portfolio diversification during the period 1980-1999 and show that the extra gains from the augmented diversification with smallcap funds are statistically significant for both in-sample and out-of-sample periods.
Does PIN affect equity prices around the world
TL;DR: In this paper, the authors examined the empirical controversy over the pricing effect of the Easley, Hvidkjaer, and O'Hara (2002) probability of information-based trading, PIN, on a sample of 30,095 firms from 47 countries worldwide.
113
Does PIN Affect Equity Prices Around the World
TL;DR: In this article, the authors examined the empirical controversy over the pricing effect of Easley, Hvidkjaer, and O'Hara's (2002) probability of information-based trading, PIN, on a sample of 30,095 firms from 47 countries worldwide.
113
Real Effects of Stock Underpricing
Harald Hau,Harald Hau,Sandy Lai +2 more
TL;DR: In this article, the causal effect of underpricing on investment and employment was found to be largely concentrated on the most financially constrained firms, and they used fire sales by distressed equity funds during the 2007-2009 financial crisis to identify substantial exogenous under pricing.
Home-biased analysts in emerging markets
Sandy Lai,Melvyn Teo +1 more
TL;DR: This article found that local analyst recommendations are systematically more optimistic than for foreign analyst recommendations in emerging markets, and the effects of this novel "home bias" among local analysts overwhelm any information asymmetry between foreign and local analysts.