Solving the return deviation conundrum of leveraged exchange-traded funds

H Tang, XE Xu - Journal of Financial and Quantitative Analysis, 2013 - cambridge.org
The large deviation of the actual return of a leveraged exchange-traded fund (LETF) from
the leveraged multiple of the underlying index return has drawn considerable attention from …

Body mass index in families: spousal correlation, endogeneity, and intergenerational transmission

J Abrevaya, H Tang - Empirical Economics, 2011 - Springer
Previous studies have documented spousal and intergenerational correlations in body mass
index (BMI) but few have considered familial weight data augmented with socioeconomic …

Do leveraged exchange-traded products deliver their stated multiples?

A Loviscek, H Tang, XE Xu - Journal of Banking & Finance, 2014 - Elsevier
Using the longest history of a US equity market index, this paper simulates the return deviation
and multiple deviation for Leveraged Exchange-Traded Products (LETPs) with different …

Are CEO stock option grants optimal? Evidence from family firms and non-family firms around the Sarbanes–Oxley Act

H Tang - Review of quantitative finance and accounting, 2014 - Springer
This paper investigates the optimality of stock option grants to Chief Executive Officers (CEOs)
by examining a set of S&P 500 companies around the passage of the Sarbanes–Oxley …

Are both managerial morality and talent important to firm performance? Evidence from Chinese public firms

X Pan, H Tang - International Review of Financial Analysis, 2021 - Elsevier
Morality and talent are two important factors to consider when selecting managers. This
study examines the relation among managerial morality, talent, and firm performance by …

Do ETFs affect ADRs and US domestic stocks differently?

C Fu, Q Huang, H Tang - … of International Financial Markets, Institutions and …, 2022 - Elsevier
This study examines the effect of exchange-traded funds (ETFs) on their underlying American
depositary receipts (ADRs). We find that the percentage of ADR shares owned by ETFs …

Identifying the relation between a supply chain network's structure and its overall financial performance

P Orenstein, H Tang - Operations and Supply Chain …, 2021 - journal.oscm-forum.org
We construct a data set using financial performance data spanning forty publicly traded
companies across several industry sectors over a three-year time-period to identify key structural …

Do Corporate Cash Holdings PredictStock Returns?

RKS Rao, H Tang, S Chandrashekar - The Journal of Investing, 2013 - pm-research.com
Stockholders’ returns, in finance theory, are independent of a firm’s cash holdings. However,
there is widespread belief among Wall Street practitioners that firms’ cash holdings do …

CEO incentives: Measurement, determinants, and impact on performance

L Peng, A Röell, H Tang - … , and Impact on Performance (May 26 …, 2016 - papers.ssrn.com
We examine, both theoretically and empirically, the determinants and performance impact
of three measures of CEO incentives: pay-performance elasticity (PPE), semi-elasticity (PPSE)…

Real estate as a new equity market sector: Market responses and return comovement

H Tang, K Xie, XE Xu - Real Estate Economics, 2022 - Wiley Online Library
This study examines the market responses and return comovement between real estate and
financial stocks around the reclassification of real estate firms from the financial sector to a …