臺大管理論叢 NTU Management Review VOL.29 NO.1

The Illiquidity Premium: Further Evidence from Global and Asia-Pacific Markets 24 Wenjin Kang Wenjin Kang is a Professor of Finance at School of Finance, Shanghai University of Finance and Economics. His research area is empirical asset pricing, with a focus on market microstructure and liquidity. His research works study the cross-sectional and time-series determinants of liquidity, and how liquidity is priced in financial markets. He also conducts researches about the investors’ behaviour and market anomalies in Chinese market. He has published research articles in journals such as Journal of Finance, Journal of Financial Economics, Journal of Banking and Finance, and Journal of Financial Markets. Huiping Zhang Huiping Zhang is a Senior Lecturer of Business at James Cook University Singapore. Her research interests include the effects of liquidity on stock returns in the U.S. and the global market, and the measurement of liquidity in emerging markets. She also does research on the impact of media coverage on stock liquidity and returns in China stock market. She has published research articles in journals such as Journal of Financial Economics, Financial Review, International Review of Finance, and Pacific-Basin Finance Journal.