金融与财务学系系列讲座之279期

时   间：2023年3月14日（周二）10:30-12:00

教   室：史带楼301

主   题：Superstition Everywhere

演讲者：张劲帆  副教授, 港中文深圳经管学院

摘   要：In Chinese culture, the digit 8 (4) is considered lucky (unlucky). We find that this numerological superstition has a significant impact across China's stock, bond, foreign exchange, and commodity markets, affecting asset prices in both the primary and secondary markets. The superstition effect, i.e., asset prices ending with a lucky (unlucky) digit are far more (less) often than what would be expected by chance, is prevalent. The effect is driven by both investors' reliance on superstition as an anchor to deal with ambiguity and the overoptimism of unsophisticated investors. Only when the superstition effect is driven by overoptimism, it is associated with overpricing.

简   介：Professor Jinfan Zhang received his Ph.D. in Financial Economics from Yale University, Ph.D. in Electrical Engineering from Tsinghua University. He is Associate Professor of Finance at the School of Management and Economics (SME), CUHK-Shenzhen, director of doctoral studies. Before joining CUHK-Shenzhen, he was Economist at the IMF, assistant professor at the CKGSB. Professor Zhang's research interest focuses on China's financial market and institutions, and Chinese Economy. He has published papers in top finance and economics academic journals including American Economic Review: Insights, Journal of Financial Economics, Review of Financial Studies, and China Economic Quarterly, etc.

金融与财务学系

2023-3-8