Mingsheng Li, Ph.D.

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Mingsheng Li, Ph.D.

Position: Professor
Phone: (419) 372-2527
Email: mli@bgsu.edu
Address: 210 Business Administration

Bio

Dr. Mingsheng Li is an associate professor of finance, and a holder of Ashel/Bryan Huntington Bank Professorship since fall 2015. His primary research areas include Market Microstructure, Initial Public Offerings (IPOs), ETF trading, Mutual Funds, and Emerging Equity Markets. After joining BGSU in August 2006, Dr. Li has published more than twenty peer-reviewed papers and his research works have appeared in top finance journals such as Journal of Banking and FinanceFinancial ManagementJournal of Financial Research, Financial ReviewJournal of Empirical FinancePacific-Basin Finance Journal, Quarterly Review of Economics and Finance, North American Journal of Economics and Finance, Journal of Investing, etc. 

His paper entitled "Analyst Reputation, Dealer Affiliation and Market Making" won the best paper awards from the Journal of Financial Research in 2008. His forthcoming paper accepted by Pacific-Basin Finance Journal (Which Matters: 'Paying to Play' or Stable Business Relationship? Evidence on Analyst Recommendation and Mutual Fund Commission Fee Payment”) won Asian Finance Association 2015 Annual Meeting Best Paper Award. Currently, he is working on a few papers related to Mutual Funds and Margin trading. 

SELECTED PUBLICATIONS

 

Bradley, Dan, Mingsheng Li, Jing Shi, 2011, "IPO Trading without Market Makers or Underwriter Price Support", Financial Review 46, 459-483.

Bae, Sung C, Mingsheng Li, Jing Shi, 2011, "Heterogeneous Investor's Reaction to Exchange Rate Movement: New Evidence from a Unique Emerging Market," Emerging Markets Finance and Trade 47, 7-22.

Dan Klein, Mingsheng Li, 2009, “Factors Affecting Secondary Share Offerings in the IPO Process,” Quarterly Review of Economics and Finance 49, 1194-1212.

Sung C. Bae, Mingsheng Li, Jing Shi, 2009, “Does the Law of One Price Hold Better under a Flexible Exchange Rate System?” Journal of Multinational Financial Management 19, 306-322

Brau, James, Frank Laatsch, Mingsheng Li, 2008, “IPO Pricing and Equity Return Swaps,” Financial Decisions 20 (Issue 2, Winter), 1-31.

Li, Mingsheng, Xin Zhao, 2008, “Analyst Reputation, Dealer Affiliation, and Market Making,” Journal of Financial Research 31 (Issue 4, Winter 2008), 301-332 (JFR 2008 Outstanding Article Award of the year).

Zheng, Steven X., Mingsheng Li, 2008, “Underpricing, Ownership Dispersion, and Aftermarket Liquidity of IPO Stocks,” Journal of Empirical Finance 15, 436-454.

Bae, Sung C., Taek Ho Kwon, Mingsheng Li, 2008, “Foreign Exchange Rate Exposure and Risk Premium in International Investments: Evidence from American Depositary Receipts,” Journal of Multinational Financial Management 18, 165-179.

Bae, Sung C., Taek Ho Kwon, Mingsheng Li, “Foreign Exchange Rate Exposure and Risk Premium in International Investments: Evidence from American Depositary Receipts”, Journal of Multinational Financial Management, forthcoming (accepted in July 2007).

Brau, James, Mingsheng Li, and Jing Shi, 2007, “Do secondary shares in the IPO process have a negative effect on aftermarket performance?” Journal of Banking and Finance 31, 2612-2631.

Li, Mingsheng, 2006, "A Better Understanding of Initial Public Offering Process: Evidence from Google," The Financier 13/14, 8-18.

Chung, Kee H., Mingsheng Li, and Linda Yu, 2005, “Assets in Place, Growth Opportunities, and IPO Returns,” Financial Management 34 (Issue 3), 65-88.

Chung, Kee H., Mingsheng Li, and Thomas H. McInish, 2005,  “Probability of Information based trades, Price Impact, and Trade Autocorrelation,” Journal of Banking and Finance 29 (Issue 7), 1611-1901

Li, Mingsheng, Thomas H. McInish, and U. Wongchoti, 2005 (May), “Asymmetric Information in IPO Aftermarket,” Financial Review 40 (Issue 2), 131-153 (lead article in the issue).

Li, Mingsheng, Tim McCormick, and Xin Zhao, 2005, “Order imbalance and liquidity supply: evidence from the bubble burst of NASDAQ stocks,” Journal of Empirical Finance 12 (Issue 4), 533-555.

Li, Mingsheng and Robert Eisenstadt, 2005, “Price supports and spreads in IPO aftermarket: an empirical microstructure study,” Quarterly Review of Economics and Finance 45 (issues 4-5), 748-766.

Li, Mingsheng, Melissa Melancon, and Steven X. Zheng, 2005, “Underpricing, share-retention, and IPO aftermarket liquidity,” International Journal of Managerial Finance 1 (Issue 2), 76-94 (lead article in the issue).

Li, Mingsheng and Mike Parker, 2005, “Adverse selection cost and information asymmetry after decimalization,” Journal of Business and Economic Perspectives 30 (Issue 2), 68-87.