YUSHUI SHI
YUSHUI SHI
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Senior Lecturer (Assistant Professor) in Finance
Department of Banking and Finance
Monash Business School, Monash University
Research Interests
Empirical Asset Pricing, Investment, Behavioral Finance, Financial Network, Household/Retail Investor Behavior, Machine learning application, Chinese Market
Publications
Does Time Heal All Wounds? Psychological Responses to Trauma and Financial Risk-Taking, Financial Review Forthcoming
(with Chris Veld and Haiying Yin)Do Sell-Side Analysts Say “Buy” while Whispering “Sell”?, Review of Finance, 28(4), July 2024, 1275−1310
(with David Hirshleifer and Weili Wu)- Media Coverage: Canadian Investment Review
Do People Feel Less at Risk? Evidence from Disaster Experience, Journal of Financial Economics, 138 (8), December 2020, 866-888.
(with Yu-Jane Liu and Ming Gao)Working Papers
Nominal Prices, Retail Investor Participation and Return Momentum
(with Jun Du, Dashan Huang, Yu-Jane Liu, Avanidhar Subrahmanyam, and Huacheng Zhang)We explore the link between momentum and investing clientele via an identification strategy for retail participation. We find that retail trades contribute to short-term reversals, and attenuate momentum arising from institutional underreaction to long-lived information.
Financial Inattention, Unrealized Profit, and Realization Preference
(with Yu-Jane Liu and Yuzheng Liu)We find consistent evidence for realization preference when condition on investor-days when investor pay attention to their portfolios.
Demand-Based Opposing Styles as Constellations: A Machine Learning Approach
(with Yu-Jane Liu)There exist two competing investment ideologies—the conservative and aggressive investing —that underlie retail investors' dichotomous styles regarding stock characteristics.
FOMC Announcements, Short Selling, and Anomalies
(with Xi Dong and Jinfei Sheng )The returns on the long-short strategy based on anomalies reverse on the FOMC days because arbitrageurs requires higher returns on the short-leg stocks as they face more shorting risk subject to the FOMC news.
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