Research

Published Articles

• When do institutional shorts discipline bubbles?
  Jin, H., Lin, Y., & Zhang, H. (2025). Finance Research Letters, 108789.
  Abstract ↓
  This paper examines the conditions under which institutional short sellers act as a disciplining force during asset price bubbles. We analyze the interplay between short-selling constraints, institutional investor behavior, and market efficiency, identifying the circumstances in which short interest is associated with subsequent price corrections.
• The Intersection of Climate Beliefs and Sustainability: An Empirical Study of Energy Efficiency Premiums in the Residential Real Estate Market
  Lin, Y. (2024). Journal of Finance Issues, 22(1), 38–53.
  Abstract ↓
  Building on both the certification literature and previous work on the impact of climate change on real estate prices, this paper investigates how the prices of more sustainable homes differ from conventional homes. Using comprehensive sales transaction data merged with energy rating data of U.S. real estate properties, this paper finds that properties with better energy ratings are sold at a premium compared to those with poor energy performance. The results also suggest that the premium is more profound among neighbourhoods that are more concerned about sustainability and environmental issues.
• Birth order and executive risk-taking: A study on CEO behavioral disposition
  Lin, Y. (2023). International Business Research, 16(11), 1–11.
  Abstract ↓
  This paper explores the potential influence of chief executive officers' (CEOs') birth order on corporate decision-making. Drawing upon both theoretical frameworks and existing empirical studies, birth order considerably impacts individual personality attributes and risk aversion tendencies. Our analyses reveal a pronounced positive association between CEO's birth order and their propensity for risk-taking. Specifically, CEOs born later in their familial succession are more inclined to risk-taking than their first-born counterparts, who are more conservative. These findings persist after controlling for CEO characteristics, year, and industry-specific factors.

Conference Presentations