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 a professor of finance, and a holder of Ashel/Bryan Huntington Bank Professorship since fall 2014. 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 thirty peer-reviewed papers and his research works have appeared in top finance journals such as Journal of Banking and Finance, Financial Management, Journal of Financial Research, Financial Review, Journal of Empirical Finance, Pacific-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

  1. Xin Zhao, Mingsheng Li, Liuling Liu, 2018. “Beta momentum strategy after extreme market movements”, Investment Management and Financial Innovations, 15(3), 97-110.

  2. Xiao Jun, Mingsheng Li, Chen Yugang, 2017. “Catering to behavioral demand for dividends and its potential agency issue”, Pacific-Basin Finance Journal 46, 269-291.

  3. Rachel Huang, Mingsheng Li, Jing Shi, 2016. “Which Matters: 'Paying to Play' or Stable Business Relationship? Evidence on Analyst Recommendation and Mutual Fund Commission Fee Payment”, Pacific-Basin Finance Journal 40 (Dec), 403-423. (Rated as an A-journal based on Finance Department’s Journal ranking).

  4. Mingsheng Li, Xin Zhao, 2016. “Neighborhood effect and stock price comovement”, North American Journal of Economics and Finance 35, 1-22 (leading article). (Rated as a B-journal based on Finance Department’s Journal ranking).

  5. He, Xi, Minsheng Li, Jing Shi, Garry Twite, 2016. “Why do firms pay stock dividends: is it just a stock split? Australian Journal of Management 41 (3), 508-537 (Rated as A+ journal in Australia and listed on SSCI, SCI).

  6. Mingsheng Li, Xin Zhao, 2014. “Impact of leveraged ETF trading on the market quality of component stocks,” North American Journal of Economics and Finance 28, 90-108. (Rated as a B-journal based on Finance Department’s Journal ranking).

  7. Jun, Xiao, Mingsheng Li, Wu Yan, and Rui Zhang, 2014. “Flow-performance relationship and star effect: new evidence from Chinese mutual funds,” Emerging Markets Finance & Trade 50 May/Jun, 81-102. (Rated as a B-journal based on Finance Department’s Journal ranking).

  8. Xiao Jun, Mingsheng Li, Jing Shi, 2014. “Volatile Market Condition and Investor Clientele Effects on Mutual Fund Flow Performance Relationship,” Pacific-Basin Finance Journal 29, 310-334. (Rated as an A-journal based on Finance Department’s Journal ranking).

  9. Filbeck, Gret, Mingsheng Li, Xin Zhao, 2013. “Performance of the Contrarian Strategy after Extreme Market Movement,” Journal of Investing 22 (fall, No3), 53-65. (Rated as a B-journal based on Finance Department’s Journal ranking).

  10. Chung, Kee C., Mingsheng Li, Xin Zhao, 2012. “Security Analysis, Dealer-Analyst Collaboration, and Market Quality: Evidence from the NASDAQ Market in the USA,” Journal of Business Finance and Accounting 39 (9 & 10), 1376-1402. (Rated as a B-journal based on Finance Department’s Journal ranking).

  11. Li, Mingsheng, Dan Klein and Xin Zhao, 2012, “Empirical Analysis of ETF Intraday Trading,” Financial Services Review 21, 149-176. (Rated as a B-journal based on Finance Department’s Journal ranking).

  12. Bradley, Dan, Mingsheng Li, Jing Shi, 2011 (Aug), “IPO Trading without Market Makers or Underwriter Price Support”, Financial Review 46, 459-483. (Rated as an A-journal based on Finance Department’s Journal ranking).

  13. Bae, Sung C, Mingsheng Li, Jing Shi, 2011 (Jan-Feb), “Heterogeneous Investor’s Reaction to Exchange Rate Movement: New Evidence from a Unique Emerging Market,” Emerging Markets Finance and Trade 47, 7-22. (Rated as a B-journal based on Finance Department’s Journal ranking).

  14. Dan Klein, Mingsheng Li, 2009, “Factors Affecting Secondary Share Offerings in the IPO Process,” Quarterly Review of Economics and Finance 49, 1194-1212. (Rated as a B-journal based on Finance Department’s Journal ranking).

  15. 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. (Rated as a B-journal based on Finance Department’s Journal ranking).

  16. Brau, James, Frank Laatsch, Mingsheng Li, 2008, “IPO Pricing and Equity Return Swaps,” Financial Decisions 20 (Issue 2, Winter), 1-31. (Rated as a B-journal based on Finance Department’s Journal ranking).

  17. 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). (Rated as an A-journal based on Finance Department’s Journal ranking).

  18. Zheng, Steven X., Mingsheng Li, 2008, “Underpricing, Ownership Dispersion, and Aftermarket Liquidity of IPO Stocks,” Journal of Empirical Finance 15, 436-454. (Rated as an A-journal based on Finance Department’s Journal ranking).

  19. 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. (Rated as a B-journal based on Finance Department’s Journal ranking).

  20. 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. (Rated as an A-journal based on Finance Department’s Journal ranking).

  21. Li, Mingsheng, 2006, "A Better Understanding of Initial Public Offering Process: Evidence from Google," The Financier 13/14, 8-18. (Rated as a B-journal based on Finance Department’s Journal ranking).

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

  23. 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

  24. 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)

  25. 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.

  26. 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.

  27. 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).

  28. 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.

  29. Kee H. Chung, Mingsheng Li, 2003, “Adverse Selection Costs and Asymmetric Information,” Financial Review, May, Volume 38, Number 2 issue, 257-272.