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Working paper
Reaching for dividends
In: Journal of Monetary Economics, Volume 115, p. 321-338
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Working paper
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Large Funds and Corporate Bond Market Fragility
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Capitalizing on Retail Investor Sentiment: Evidence from FinTech ETFs
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The Start Matters: Time-Varying Investor Demand, Hedge Fund Inceptions and Performance
In: Review of Finance, forthcoming
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Working paper
Partisan Return Gap: The Polarized Stock Market in the Time of a Pandemic
In: Management Science, Forthcoming
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Home Bias and Local Contagion: Evidence from Funds of Hedge Funds
In: NBER Working Paper No. w19570
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Impacts of National Drug Price Negotiation on Expenditure, Volume, and Availability of Targeted Anti-Cancer Drugs in China: An Interrupted Time Series Analysis
The Chinese government has launched six rounds of national drug price negotiation since 2016 to lower the price and expand access to innovative drugs, many of which are anticancer drugs. This study aims to examine the effect of the second round of negotiation at the provincial level on the expenditure, volume, and availability of anti-cancer drugs. Procurement data at the provincial level from January 2017 to September 2018 were extracted from the China Drug Supply Information Platform (CDSIP). The volume, expenditure, and availability of three targeted anti-cancer drugs, rituximab, trastuzumab, and recombinant human endostatin (RHE), in 11 provinces that implemented the policy in September 2017 were analyzed through a controlled interrupted time series (ITS) analysis. A significant 6.0% increase (p < 0.1) in monthly average expenditure, an increase in the volume of 99.51 DDDs (defined daily doses) (p < 0.1), and a 0.24% (p < 0.1) increase in availability were observed for rituximab following the implementation of the policy. The volume and availability of rituximab increased by 949.6 DDDs (p < 0.05) and 1.56%, respectively, immediately after implementation. The availability of trastuzumab increased by 5.14% (p < 0.01) immediately after the implementation while no instant changes in expenditure and volume were observed. A 15% (p < 0.01) increase in monthly expenditure, 3673.17 DDDs increase in volume, and 0.66% increase in availability were observed after the inclusion of Trastuzumab. However, for RHE, only a 0.32% (p < 0.01) increase was observed after its inclusion. Eastern and middle provinces benefited more than western provinces. National negotiation related to the drug price significantly increased the volume and expenditure of anti-cancer drugs and improved their availability. The effect of the policy might be different across different regions and across different anticancer drugs.
BASE
An eikonal equation based path planning method using polygon decomposition and curve evolution
In: Defence Technology, Volume 16, Issue 5, p. 1001-1018
ISSN: 2214-9147
Underwriter Competition and Institutional Loan Pricing
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Does Mutual Fund Illiquidity Introduce Fragility into Asset Prices? Evidence from the Corporate Bond Market
In: Journal of Financial Economics (JFE), Forthcoming
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Working paper
Generative AI and Asset Management
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Limits to Diversification: Passive Investing and Market Risk
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