Xing (Alex) Zhou

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

SCHOLARLY PAPERS

22

DOWNLOADS
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Top 6,693

in Total Papers Downloads

8,083

SSRN CITATIONS
Rank 4,623

SSRN RANKINGS

Top 4,623

in Total Papers Citations

188

CROSSREF CITATIONS

104

Scholarly Papers (22)

1.
Downloads 1,172 ( 21,684)
Citation 93

The Volcker Rule and Market-Making in Times of Stress

Journal of Financial Economics (JFE), Forthcoming, Fourth Annual Conference on Financial Market Regulation
Number of pages: 50 Posted: 11 Sep 2016 Last Revised: 26 Jan 2018
Jack Bao, Maureen O'Hara and Xing (Alex) Zhou
University of Delaware - Department of Finance, Cornell University - Samuel Curtis Johnson Graduate School of Management and Board of Governors of the Federal Reserve System
Downloads 838 (34,490)
Citation 15

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Volcker Rule, Corporate Bond Illiquidity, Regulation, Capital Commitment, Dealer Inventory, Market-Making, Financial Crisis

The Volcker Rule and Market-Making in Times of Stress

FEDS Working Paper No. 2016-102
Number of pages: 46 Posted: 28 Dec 2016
Jack Bao, Maureen O'Hara and Xing (Alex) Zhou
University of Delaware - Department of Finance, Cornell University - Samuel Curtis Johnson Graduate School of Management and Board of Governors of the Federal Reserve System
Downloads 334 (109,515)
Citation 60

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Volcker Rule, Corporate Bond Illiquidity, Regulation, Capital Commitment, Dealer Inventory, Market-Making, Financial Crisis

2.

Anatomy of a Liquidity Crisis: Corporate Bonds in the COVID-19 Crisis

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 62 Posted: 31 May 2020 Last Revised: 30 Sep 2020
Maureen O'Hara and Xing (Alex) Zhou
Cornell University - Samuel Curtis Johnson Graduate School of Management and Board of Governors of the Federal Reserve System
Downloads 1,141 (22,573)
Citation 25

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Corporate bonds, liquidity crisis, COVID-19, PDCF, SMCCF, electronic trading, customer-to-customer, market maker of last resort.

3.

Where Did All the Information Go? Trade in the Corporate Bond Market

Second Singapore International Conference on Finance 2008, EFA 2008 Athens Meetings Paper
Number of pages: 44 Posted: 23 Jan 2014 Last Revised: 28 May 2016
Tavy Ronen and Xing (Alex) Zhou
Rutgers Business School -Newark and New Brunswick, Department of Finance & Economics and Board of Governors of the Federal Reserve System
Downloads 1,043 (25,704)
Citation 6

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Fixed Income, Credit Markets, Corporate Bond Prices, Informational Efficiency, Bond Market Liquidity, Institutional/Retail Investors

4.

The Execution Quality of Corporate Bonds

Fordham University Schools of Business Research Paper No. 2680480
Number of pages: 50 Posted: 27 Oct 2015 Last Revised: 09 Jul 2016
Maureen O'Hara, Yihui Wang and Xing (Alex) Zhou
Cornell University - Samuel Curtis Johnson Graduate School of Management, Fordham University and Board of Governors of the Federal Reserve System
Downloads 631 (51,315)
Citation 8

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Best execution, Corporate bonds, Market Microstructure, Dealer market, Trading Network, Transparency

5.

Liquidity Restrictions, Runs, and Central Bank Interventions: Evidence from Money Market Funds

Number of pages: 54 Posted: 26 May 2020 Last Revised: 24 May 2021
Lei Li, Yi Li, Marco Macchiavelli and Xing (Alex) Zhou
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 608 (53,881)
Citation 5

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runs, money market funds, redemption gates and liquidity fees, strategic complementarities, COVID-19, MMLF

6.

Informed Trading around Acquisitions: Evidence from Corporate Bonds

Number of pages: 40 Posted: 05 Feb 2009 Last Revised: 21 Mar 2011
Simi Kedia and Xing (Alex) Zhou
Rutgers Business School and Board of Governors of the Federal Reserve System
Downloads 472 (73,830)
Citation 11

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Conflict of Interest, Investment Banking, Mergers and Acquisition, Insider Trading, Corporate Bonds

7.

Funding Liquidity and Market Liquidity: The Broker-Dealer Perspective

Number of pages: 47 Posted: 10 Jan 2019 Last Revised: 07 Nov 2019
Marco Macchiavelli and Xing (Alex) Zhou
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 384 (94,668)
Citation 4

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funding liquidity, market liquidity, repos, broker-dealers, corporate bonds

8.

Large Shareholders and Credit Ratings

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 59 Posted: 28 May 2016
Simi Kedia, Shivaram Rajgopal and Xing (Alex) Zhou
Rutgers Business School, Columbia Business School and Board of Governors of the Federal Reserve System
Downloads 329 (112,022)
Citation 6

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Moody's; S&P; credit rating agencies; ownership structure; conflict of interest; difference-in-difference; corporate bond; CMBS

9.

Credit Default Swaps and Bank Regulatory Capital

Review of Finance, forthcoming
Number of pages: 50 Posted: 09 Jun 2014 Last Revised: 14 Jul 2020
Chenyu Shan, Dragon Yongjun Tang, Hong Yan and Xing (Alex) Zhou
Shanghai University of Finance and Economics, The University of Hong Kong - Faculty of Business and Economics, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Board of Governors of the Federal Reserve System
Downloads 295 (125,874)
Citation 8

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Credit Default Swaps, CDS, Regulatory capital, Risk-weighted assets

Did Going Public Impair Moody's Credit Ratings?

Number of pages: 61 Posted: 25 Oct 2013
Simi Kedia, Shivaram Rajgopal and Xing (Alex) Zhou
Rutgers Business School, Columbia Business School and Board of Governors of the Federal Reserve System
Downloads 276 (134,298)
Citation 3

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Did Going Public Impair Moody's Credit Ratings?

Journal of Financial Economics (JFE), Forthcoming
Posted: 26 May 2014
Simi Kedia, Shivaram Rajgopal and Xing (Alex) Zhou
Rutgers Business School, Columbia Business School and Board of Governors of the Federal Reserve System

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Credit ratings; Initial public offering (IPO); Moody’s

Local Market Makers, Liquidity and Market Quality

Journal of Financial Markets, Forthcoming
Number of pages: 40 Posted: 25 Mar 2008 Last Revised: 13 Jun 2011
Simi Kedia and Xing (Alex) Zhou
Rutgers Business School and Board of Governors of the Federal Reserve System
Downloads 214 (172,847)

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Geography, Information advantages, Liquidity, Market Quality, Trading Costs

Local Market Makers, Liquidity and Market Quality

Number of pages: 46 Posted: 06 Mar 2008 Last Revised: 15 Jun 2011
Simi Kedia and Xing (Alex) Zhou
Rutgers Business School and Board of Governors of the Federal Reserve System
Downloads 44 (498,493)

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Trading Costs, Liquidity, Geography, Information Advantages

12.

Credit Default Swaps and Bank Regulatory Capital

Review of Finance, forthcoming
Number of pages: 50 Posted: 20 Sep 2017 Last Revised: 14 Jul 2020
Chenyu Shan, Dragon Yongjun Tang, Hong Yan and Xing (Alex) Zhou
Shanghai University of Finance and Economics, The University of Hong Kong - Faculty of Business and Economics, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Board of Governors of the Federal Reserve System
Downloads 238 (157,067)
Citation 9

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Credit default swaps, CDS, Capital relief, RWA ratio, Bank risk-taking

13.

Informed Bond Trading, Corporate Yield Spreads, and Corporate Default Prediction

Number of pages: 34 Posted: 20 Mar 2011 Last Revised: 27 Apr 2013
Song Han and Xing (Alex) Zhou
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 219 (169,410)
Citation 7

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Corporate Bond Yield Spreads, Information Asymmetry, Information Risk Premium, Credit Risk, Corporate Default Prediction

14.

Informed Trading in Corporate Bonds Prior to Earnings Announcements

Number of pages: 49 Posted: 16 Mar 2012
Jason Zhanshun Wei and Xing (Alex) Zhou
University of Toronto - Rotman School of Management and Board of Governors of the Federal Reserve System
Downloads 215 (172,406)
Citation 4

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Informed trading, trade imbalance, corporate bond market, earnings surprises

15.

The Electronic Evolution of Corporate Bond Dealers

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 59 Posted: 04 Jun 2020
Maureen O'Hara and Xing (Alex) Zhou
Cornell University - Samuel Curtis Johnson Graduate School of Management and Board of Governors of the Federal Reserve System
Downloads 191 (192,359)

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Electronic trading, Voice trading, RFQ, Corporate bond markets, Bond dealers, Transaction costs, Execution quality, Inter-dealer trade, Rating downgrade

16.

Mutual Fund Fragility, Dealer Liquidity Provisions, and the Pricing of Municipal Bonds

Number of pages: 51 Posted: 13 Nov 2020 Last Revised: 10 May 2021
Yi Li, Maureen O'Hara and Xing (Alex) Zhou
Board of Governors of the Federal Reserve System, Cornell University - Samuel Curtis Johnson Graduate School of Management and Board of Governors of the Federal Reserve System
Downloads 187 (196,902)
Citation 3

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Municipal bonds, mutual fund fragility, liquidity, yield spread, COVID-19

17.

Investment Commonality Across Insurance Companies: Fire Sale Risk and Corporate Yield Spreads

FEDS Working Paper No. 2017-069
Number of pages: 56 Posted: 04 Jul 2017
Vikram K. Nanda, Wei Wu and Xing (Alex) Zhou
University of Texas at Dallas - School of Management - Department of Finance & Managerial Economics, California State Polytechnic University, Pomona and Board of Governors of the Federal Reserve System
Downloads 128 (267,840)
Citation 1

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Capital constraints, Corporate bonds, Credit rating, Fire sales, Insurance companies, Regulation, Yield spread

18.

Investment Commonality across Insurance Companies: Fire Sale Risk and Corporate Yield Spreads

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 52 Posted: 31 Mar 2016 Last Revised: 27 Nov 2018
Vikram K. Nanda, Wei Wu and Xing (Alex) Zhou
University of Texas at Dallas - School of Management - Department of Finance & Managerial Economics, Cal Poly Pomona and Board of Governors of the Federal Reserve System
Downloads 127 (269,443)
Citation 1

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yield spread, fire sales, correlated investment strategies, regulation, credit rating, corporate bonds, insurance companies, capital constraints

19.

The Value of the Floor

Number of pages: 43 Posted: 23 Jun 2009
Daniel G. Weaver and Xing (Alex) Zhou
Rutgers Business School and Board of Governors of the Federal Reserve System
Downloads 100 (318,653)

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Microstructure, Asymmetric Information, Trading Floor, Volatility, Transaction Costs

20.

Secondary Market Liquidity and Primary Market Allocations in Corporate Bonds

Number of pages: 49 Posted: 19 Sep 2019 Last Revised: 12 Aug 2020
Thomas Flanagan, Simi Kedia and Xing (Alex) Zhou
University of Michigan, Stephen M. Ross School of Business, Rutgers Business School and Board of Governors of the Federal Reserve System
Downloads 55 (444,983)
Citation 2

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Corporate Bond Issuance, Primary Markets, Underpricing, Overall Benefit from Initial Allocations, Secondary Market Liquidity, Lead Underwriters

21.

Assessing Gains from Primary Market Allocations in Corporate Bonds

Number of pages: 21 Posted: 03 Jun 2021
Thomas Flanagan, Simi Kedia and Xing (Alex) Zhou
University of Michigan, Stephen M. Ross School of Business, Rutgers Business School and Board of Governors of the Federal Reserve System
Downloads 14 (663,994)

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Corporate Bond Issuance, Underpricing, Primary Market Allocations, Secondary Market Liquidity

22.

The Corporate Bond Market Crises and the Government Response

FEDS Notes No. 2020-10-07-2 https://doi.org/10.17016/2380-7172.2769
Posted: 14 Oct 2020
Steven A. Sharpe and Xing (Alex) Zhou
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System

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