Zhuo Zhong

Innovation and informed trading: Evidence from industry ETFs

Shiyang Huang, Maureen O'Hara, Zhuo Zhong

Journal article  |  2021  |  Review of Financial Studies

We empirically examine the impact of industry exchange-traded funds (IETFs) on informed trading and market efficiency. We find tha..

Liquidity Shocks and Pension Fund Performance: Evidence From the Early Release Scheme

James Brugler, Minsoo Kim, Zhuo Zhong

Report  |  2020

We study how expectations of fund flows causally affect fund performance by exploiting a quasi-natural experiment in the Australia..

Relative Tick Size and the Trading Environment

Zhuo Zhong, Maureen O'Hara, Saar Gideon

Journal article  |  2019  |  The Review of Asset Pricing Studies

We investigate how and why relative tick sizes influence traders’ order strategies, and how this affects liquidity provision in th..

Inverted fee structures, tick size, and market quality

C Comerton-Forde, V Grégoire, Z Zhong

Journal article  |  2019  |  Journal of Financial Economics

Stock exchanges compete for order flow through their fee models. A traditional model pays rebates to liquidity suppliers, and an i..

Pre-trade transparency in over-the-counter bond markets

Fan Chen, Zhuo Zhong

Journal article  |  2017  |  Pacific-Basin Finance Journal

Reducing opacity in over-the-counter markets

Zhuo Zhong

Journal article  |  2016  |  Journal of Financial Markets