Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/81583
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dc.contributor.authorNg, CCAen_US
dc.contributor.authorShen, Jen_US
dc.date.accessioned2020-01-06T07:35:18Z-
dc.date.available2020-01-06T07:35:18Z-
dc.date.issued2019-
dc.identifier.citationAccounting and finance, 2019, https://doi.org/10.1111/acfi.12446en_US
dc.identifier.issn0810-5391en_US
dc.identifier.urihttp://hdl.handle.net/10397/81583-
dc.description.abstractWe examine two quality investing strategies using gross profitability (GP) or FSCORE, respectively, over the period of 2000–2016 in Hong Kong, Japan, Korea, Singapore and Taiwan stock markets. We find that the high‐quality stocks generally earn positive returns in these markets. Both FSCORE and GP are significantly positively associated with subsequent stock returns in the cross‐sectional regressions. We also find that financial institutions as sophisticated investor concern about stock quality. The actively managed institutions buy significantly more high‐quality stocks than low‐quality stocks in each of five Asian markets. The trading pattern is not significant in passively managed institutions.en_US
dc.description.sponsorshipSchool of Accounting and Financeen_US
dc.description.sponsorshipDepartment of Building and Real Estateen_US
dc.language.isoenen_US
dc.publisherWiley-Blackwellen_US
dc.relation.ispartofAccounting and financeen_US
dc.rights© 2019 Accounting and Finance Association of Australia and New Zealanden_US
dc.rightsThis is the pre-peer reviewed version of the following article: Ng, C. C. A., & Shen, J. (2019). Quality investing in Asian stock markets. Accounting & Finance, 1-32, which has been published in final form at https://dx.doi.org/10.1111/acfi.12446. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions.en_US
dc.subjectFSCOREen_US
dc.subjectGross profitabilityen_US
dc.subjectInstitutional demanden_US
dc.subjectQuality investingen_US
dc.subjectStock returnen_US
dc.titleQuality investing in Asian stock marketsen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.spage1en_US
dc.identifier.epage32en_US
dc.identifier.doi10.1111/acfi.12446en_US
dc.identifier.scopus2-s2.0-85060574992-
dc.source.typeipen
dc.identifier.eissn1467-629Xen_US
dc.contributor.orcid#NODATA#en
dc.contributor.orcid#NODATA#en
dc.description.validate202001 bcrcen_US
dc.description.oapreprint_postprinten_US
Appears in Collections:Journal/Magazine Article
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