Dr. Ng Sin Huei & Dr. Toh Moau Yong Win Best Paper Award at AAMC 2021


Research Management Center congratulates Associate Professor Dr. Ng Sin Huei and Dr. Toh Moau Yong from the School of Economics and Management, Xiamen University Malaysia for winning the “Best Paper Award” at the 14th Asian Academy of Management International Virtual Conference (AAMC) 2021. 

Held virtually from 3 to 5 December 2021, the conference was organized by the Asian Academy of Management in collaboration with the School of Management, Universiti Sains Malaysia. The theme of the conference is “Rethinking Old Notions of Business Management: Building Resilience and Driving Impact”. 

Entitled “Examining Investor Herding Behaviour: Evidence from a New Innovative-Oriented Stock Market”, the paper presented by Dr. Ng and Dr. Toh is one of the four papers standing out from around 125 papers presented during the 3-day conference.

The paper examined the herding behavior among market participants on ChiNext, a decade-old NASDAQ-style exchange dominated by individual investors. An interesting finding of the paper which serves as evidence for Dacey and Zielonka’s (2013) proposition is that investors will be more prone to sell during the volatile market instead of holding to the losers, an act contrary to the standard account of the “disposition effect” in behavioral finance. The robustness test taking into account the daily price limit also shows that the findings are not affected by the “destructive market behavior” hypothesis of Chen et al. (2019).

This research is the fruit of collaborative efforts among Xiamen University Malaysia, Hong Kong Baptist University, Universiti Putra Malaysia, and Multimedia University. It is worth mentioning that one of the co-authors, Zhuang Zhehan is an alumnus of XMUM who graduated in July 2020 and is currently pursuing his postgraduate studies at Hong Kong Baptist University.

Dr. Ng Sin Huei

Dr. Toh Moau Yong


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