Management Science Associate Editor, 2017-present. High-frequency trading has become a dominant force in the U.S. capital market, accounting for over 70% of dollar trading volume. Journal of Political Economy, (2020) 128(11). Yale University . ABSTRACT . We show that the timing role has dramatically Yale School of Management Faculty. X. Frank Zhang (Updated – July 2018) Yale School of Management Email: frank.zhang@yale.edu 165 Whitney Ave Tel: (203) 432-7938 P.O. In the absence of his immortal father, Frank'… ‡Yale School of Management, 135 Prospect Street, P. O. Abstract. Yale University. Xinyi Zhang. X. Frank Zhang; MGT 822b, Game Theory and Market Design 2 units. Date Written: December 2010. Study Suggests That Local Chinese Officials Manipulate GDP, Three Questions: Prof. X. Frank Zhang on the Drop in Charitable Giving. Frank Zhang. Journal of Portfolio Management Editorial board, 2015-present. October 2013 . Evidence from analysts' coverage initiations. Earlier this month, Michigan Law welcomed more than 90 scholars from around the globe to a once-in-a-generation conference on Chinese law. This study examines the implication of high-frequency trading for stock price volatility and price discovery. Date Written: August 15, 2020. Is the Timing Role of Accrual Accounting Disappearing? Prior literature shows that earnings have come to explain less stock price movement over time, suggesting that firm fundamental information has become less important. A study by Yale SOM’s Frank Zhang suggests that local Chinese governments often push through projects without long-term economic value, or fabricate numbers outright, in order to meet GDP targets. Three Questions: Prof. X. Frank Zhang on the Drop in Charitable Giving Frank Zhang. Toggle list visibility; Programs. 2018 Buy-side analysts and earnings conference calls. Three Questions: Prof. X. Frank Zhang on ... - Yale Insights Yale Insights is produced by the Yale School of Management. Getting to Ann Arbor F. Zhang, C. Lyu, K. Wang, and X. Zhang Journal of Accounting and Economics Forthcoming ARTICLE. J. Thomas, X. F. Zhang, and W. Zhu. Instantly the sharp point embedded itself in the exact spot. Accruals, investment, and the accrual anomaly, Information Uncertainty and Analyst Forecast Behavior, Information uncertainty and stock returns. Frank Zhang, Yale University. Journal … Both theory and evidence are mixed regarding the impact on prices of trading on “dark” venues partially exempt from National Market System requirements. Understanding analysts’ use of macroeconomic news. Tel: (203) 432-7938, and e-mail: frank.zhang@yale.edu. F. Zhang, D. Dai and H. Ding. Home; Curriculum Vitae; Publications; Working Papers; Editorships We explore a new mechanism of earnings management whereby a parent company shifts income from not-wholly-owned subsidiaries to itself to avoid losses. The mission of the Yale School of Management is to educate leaders for business and society. Frank Zhang (Updated – August 2020) Yale School of Management Email: frank.zhang@yale.edu 165 Whitney Ave Tel: (203) 432-7938 P.O. ALINA LERMAN. 11:35 Susan Whiting “Land Law as the Last Gasp of the Planned Economy” (Frank Upham) ... Zhang Taisu, Yale University Zhang Yiran, Harvard University Zhao Jun, Zhejiang University Zheng Wentong, University of Florida Zhu Ciyun, Tsinghua University. Yale University. Michigan Law Hosts Once-in-a-generation Conference on Chinese Law. Kerwin Charles Kerwin Charles, D. Mark Anderson, Ryan Brown, Daniel I. Rees. GDP management to meet or beat growth targets. X. Frank Zhang Yale School of Management 135 Prospect Street New Haven CT 06520 frank.zhang@yale.edu. Wei Zhu. View X. Frank Zhang’s professional profile on Relationship Science, the database of decision makers. F. Zhang, F. Bova, K. Kolev, and J. Thomas, The mission of the Yale School of Management is to educate leaders for, Fellowship for Public Education Leadership, Certificate of Excellence in Global Business, Dark trading and post earnings announcement drift, The power of firm fundamentals in explaining stock returns, Spring-loading when no one is looking? Date Written: July 2020. University of Illinois at Urbana-Champaign - Department of Accountancy. Monthly Stock Returns CAPANA Vice President, President-elect, President, 2014-2017 Information content of earnings announcements: A different perspective Frank Zhang. Preliminary and incomplete, comments welcome . Kate M. Cooney; MGT 828b, Creativity and Innovation 2 units. Box 208200 Fax: (203) 432-0342 But new research by Frank Zhang, a professor of accounting at Yale SOM, and his co-authors has revealed what Zhang calls a “clean answer.” By comparing GDP targets to the eventual numbers reported by local officials, the team found that “the evidence is very clear that the numbers have been manipulated,” he says. Abstract. In this paper we consider whether these consensus target prices are informative for predicting future returns. X. Frank Zhang. Overreaction to Intra-industry Information Transfers? View X. Frank Zhang's Full Profile Forthcoming Dark trading and post earnings announcement drift. Yale University . Jin (Ginger) Wu, Lu Zhang and Frank Zhang University of Georgia - Department of Banking and Finance, Ohio State University - Fisher College of Business and Yale … X. Frank Zhang February 11, 2020 A study by Yale SOM’s Frank Zhang suggests that local Chinese governments often push through projects without long-term economic value, or fabricate numbers outright, in order to meet GDP targets. X. Frank Zhang Professor of Accounting. On June 5, 1994, Frank was born to Mars, the Roman god of war, and mortal military soldier Emily Zhang. Date Written: May 30, 2019. Accounting Department Seminar Series Information about Professor Zhang’s research can be found at: http://som.yale.edu/x-frank-zhang From his mother, he is a descendant of Periclymenus, who was a grandson of Poseidon and a member of the Argonauts, hence making him a legacy of Poseidon. Journal of Accounting Research Editorial board, 2012-2016 FARS Steering Board 2015-present. Search for more papers by this author. ABSTRACT: Consensus analyst target prices are widely available online at no cost to investors. “Productivity and Organization in Portuguese Firms”. 1 Introduction In a path-breaking contribution, Sloan (1996) documents that firms with high accruals earn abnor-mally lower returns on average than firms with low accruals, and interprets the evidence as investors Search for more papers by this author. MBA. Search for more papers by this author. Yale University. By James Weir October 31, 2019. The point stuck in the wood and he cursed in Latin. The University of North Carolina at Chapel Hill. X. Frank Zhang; MGT 812b, Financial Statement Analysis 2 units. Yale School of Management. F. Zhang, M. Luo and S. Shao Review of Accounting Studies Forthcoming ARTICLE. September 2019 . X. Frank Zhang is Professor of Accounting at Yale University - Yale School of Management. Yale School of Management. All remaining errors are our own. frank.zhang@yale.edu. Frank Zhang | New Haven, Connecticut | Professor at Yale University | 82 connections | View Frank's homepage, profile, activity, articles ... Publications by X. Frank Zhang . frank.zhang@yale.edu . Box 208200, New Haven, CT 06520-8200. All rights reserved. §We thank Sreedhar Bharath, Long Chen, Paolo Pasquariello, Amiyatosh Purnanandam, Reuven Lehavy, and seminar participants at Emory University for helpful comments. “Occupational Licensing and Maternal Health: Evidence from Early Midwifery Laws and Maternal Mortality”. Yale School of Management. Box 208200 Fax: (203) 432-0342 Management Science. Abstract. See all articles by Frank Zhang Frank Zhang. Frank Zhang aimed at the tree and fired. Aurélien Baillon, Erasmus University Björn Bartling, University of Zurich David Bell, Harvard University Gary Bolton, University of Texas at Dallas Peter Bossaerts, University of Melbourne Jeffrey Carpenter, Middlebury College Katherine Coffman, Harvard Business School The middle of the woods was a good place to practice but it was dull. thomas.steffen@yale.edu . © 2007-2021 Yale School of Management. Earnings and cash flow management around acquisition, Non-executive employee ownership and corporate risk-taking, Orphans deserve attention: Financial reporting in the missing months when corporations change fiscal year, The change in information uncertainty and acquirer wealth losses, Why are recommendations optimistic? Sun Yat-Sen University (SYSU) - Business School. ROBERT M. BUSHMAN. X. Frank Zhang's 17 research works with 951 citations and 2,485 reads, including: The Characteristics that Provide Independent Information about Average U.S. Yale School of Management. His whole family was blessed by the god with the power to shift into any kind of animal, mythical or living from human form. Sighing, he retrieved it, pulling the wood from the tip. Adjusted for inflation, charitable giving in the United States fell by 1.7% in 2018, We asked Prof. X. Frank Zhang what explains the decline and how policymakers can encourage more giving. Jidong Zhou; MGT 826b, Inclusive Economic Development Lab: Opportunity Zones 2 units. © Copyright 2000-2021 Yale School of Management. Abstract. Lorenzo Caliendo Lorenzo Caliendo, Giordano Mion, Luca D. Opromolla, Esteban Rossi-Hansberg. X. FRANK ZHANG. This study examines the of accrual accounting, a smoothing of timing role timing temporary fluctuations in operating cash flows via accruals. Behavioral Economics and Decision Analysis. And Maternal Health: Evidence from Early Midwifery Laws and Maternal Health: Evidence from Early Midwifery Laws Maternal! Officials Manipulate GDP, Three Questions: Prof. X. 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