Professor John Rogers’ Paper is Published on an International Level-A Journal, Focusing on Expectations of Professional Asset Managers and the Chinese Stock Market | Academics

Release time：2024-06-05    

“Visible Hands: Professional Asset Managers’ Expectations and the Stock Market in China,” the paper coauthored by John Rogers, Professor in Economics at FISF, and his partners John Ammer, Gang Wang and Yang Yu, was accepted and published in the Journal of Financial and Quantitative Analysis, an international level-A journal.  

Professor’s Introduction

John Rogers

Professor in Economics at FISF

The following is the exposition of the main contents of the paper:

This paper studied the influence of professional fund managers’ economic growth predictions on their stock investment and stock prices. By constructing new panel data for fund managers’ economic growth predictions, the researchers found that pessimistic fund managers would decrease stock allocations, especially in pro-cyclical industries. Besides, there was an evident positive correlation between the return rate of stocks and the economic growth predictions of the fund managers holding or trading such stocks. Lastly, the researchers also found that the information effectiveness of stock prices positively depended on the fund manager's shareholding and trading, particularly on the transactions consistent with their economic growth predictions. The above conclusions indicated that the active stock allocations conducted by fund managers could help draw stock prices closer to the fundamentals of listed enterprises.

FISF

Ever since its establishment, FISF has witnessed 38 professors publishing a total of 154 papers in world-famous academic journals, among which 58 academic papers were published in international academic journals at A+ and A levels. The teaching team of the school has always upheld the school motto of “Unification FISF; Excellence, Responsibility, Innovation,” devoting themselves wholeheartedly to academic research work. They manage to maintain a high level of academic achievements in both quantity and quality, which fully reflects the excellent strength of the teaching team of FISF in the field of academic research. In the future, FISF will keep on pursuing international cutting-edge scientific research achievements and continue to make greater contributions to the promotion of first-class financial and economic disciplines.