65 citations · 112 across the 8 of their papers we have counts for
10 papers
Too Late to Prune: Generative AI, the Screen, and Team Creative Decisions
Difang Huang, Shumin Yu, Fadong Chen +1
Generative AI makes options cheap and shifts the bottleneck of creative work from generating options to screening them. We argue that AI's value depends on whether its options arri…
Does Training on Future Data Pay? Look-Ahead Bias in Forecasting with Pretrained Models
Haiqiang Chen, Li Chen, Yunlong Chen +2
We examine whether post-origin training information inflates the measured accuracy and economic value of financial forecasts. We evaluate five sets of financial time-series foundat…
Do Carbon Price Forecasts Improve Compliance Procurement? Evidence from European Union Allowances
Muzi Chen, Difang Huang, Shouyang Wang +1
Firms covered by emissions trading systems need forecasts not only to value allowances, but also to decide when to buy them. This paper asks whether European Union Allowance (EUA)…
When and Why Naïve Diversification Works: A Simple Diagnostic Strategy
Han Feng, Difang Huang, Jue Wang +1
We explain the long-standing puzzle of naïve diversification with a simple, testable condition: equal weighting is minimum-variance optimal when the forecast-error covariance matri…
Estimating the Impact of Social Distance Policy in Mitigating COVID-19 Spread with Factor-Based Imputation Approach
Difang Huang, Ying Liang, Boyao Wu +1
We identify the effectiveness of social distancing policies in reducing the transmission of the COVID-19 spread. We build a model that measures the relative frequency and geographi…
Estimating Contagion Mechanism in Global Equity Market with Time-Zone Effect
Boyao Wu, Difang Huang, Muzi Chen
This paper proposes a time-zone vector autoregression (VAR) model to investigate comovements in the global financial market. Analyzing daily data from 36 national equity markets, w…
Dynamic Analyses of Contagion Risk and Module Evolution on the SSE A-Shares Market Based on Minimum Information Entropy
Muzi Chen, Yuhang Wang, Boyao Wu +1
The interactive effect is significant in the Chinese stock market, exacerbating the abnormal market volatilities and risk contagion. Based on daily stock returns in the Shanghai St…
Dynamic Correlation of Market Connectivity, Risk Spillover and Abnormal Volatility in Stock Price
Muzi Chen, Nan Li, Lifen Zheng +2
The connectivity of stock markets reflects the information efficiency of capital markets and contributes to interior risk contagion and spillover effects. We compare Shanghai Stock…
Measuring Gender and Racial Biases in Large Language Models
Jiafu An, Difang Huang, Chen Lin +1
In traditional decision making processes, social biases of human decision makers can lead to unequal economic outcomes for underrepresented social groups, such as women, racial or…
Semiparametric Single-Index Estimation for Average Treatment Effects
Difang Huang, Jiti Gao, Tatsushi Oka
We propose a semiparametric method to estimate the average treatment effect under the assumption of unconfoundedness given observational data. Our estimation method alleviates miss…