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The CCFin blog

How (in)efficient is the stock market?

by Dr Yuan Li, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance In 2013, the Nobel committee …

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Embrace the randomness

by Dr Alex S.L. Tse, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Excerpt from the CBS …

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Contingent convertibles: do they do what they are supposed to do?

When Lehman Brothers was in deep water in September 2008, the US federal government and the Federal Reserve decided not to bail …

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The granular effect of stock market concentration on market portfolio volatility

Dr Jisok Kang, Cambridge Centre for Finance (CCFin) Ever since the Capital Asset Pricing Model (CAPM) was first introduced in 1964, a …

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Are analysts whose forecast revisions correlate less with prior stock price changes better information producers and monitors?

Financial analysts are important information intermediaries in the capital markets because they engage in private information search, perform prospective analyses aimed at …

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What caused the leverage cycle run-up to 2008 financial crisis?

The 2008 financial crisis has far-reaching impact on financial markets and real economy. Although academic researchers and public policymakers have reached a …

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Transaction costs, consumption and investment

The theoretical modelling of individuals’ consumption and investment behaviours is an important micro-foundation of asset pricing. Despite being a classical problem in …

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Book-to-market ratio and inflexibility: the effect of unrecorded R&D capital

By Yuan Li, Research Associate, Cambridge Centre for Finance (CCFin) and Cambridge Endowment for Research in Finance R&D investment has been playing …

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What causes the executive pay gap between public and private firms?

Jisok Kang, a CERF Research Associate at the Cambridge Centre for Finance (CCFin), and his coauthors, Kee-Hong Bae and Albert Tsang, investigate …

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“Because everyone else was doing it.”

by Dr Hui (Frank) Xu, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance After the 2008 financial …

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“Value & Profit”: new book by Geoffrey Whittington published August 2017

Cambridge University Press has recently published a new book by Geoffrey Whittington, Senior Research Associate at the Cambridge Centre for Finance (CCFin). …

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Probability weighting and stock trading behaviours

Humans are far from being a perfect machine of decision making especially in the face of uncertainty. One prevalent phenomenon is that …

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What are bubbles?

Dr Qiusha Peng of the Cambridge Centre for Finance (CCFin) explains what bubbles mean to those in the financial world. Accompanying the …

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Does anchoring impede investors’ interpretation of earnings news?

In his best-selling book, Thinking, Fast and Slow, Nobel Memorial Prize in Economics laureate Daniel Kahneman describes anchoring as “one of the …

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Our social interactions are informative of our investment decisions

When we are investing, we don’t mindlessly copy our peers, according to new research carried out by Cambridge Centre for Finance (CCFin) …

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Does the stock market benefit the economy?

A research project carried out by a Research Associate at the Cambridge Centre for Finance (CCFin), Jisok Kang, and his co-author, Kee-Hong …

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