Editor's Introduction

Kou, Gang Article Editor's Introduction Financial Innovation Provided in Cooperation with: Springer Nature Suggested Citation: Kou, Gang (2015) : Editor's Introduction, Financial Innovation, ISSN 2199-4730, Springer, Heidelberg, Vol. 1, Iss. 18, pp. 1-2, https://doi.org/10.1186/s40854-015-0020-7 This Version is available at: https://hdl.handle.net/10419/176412 Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public. If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence. http://creativecommons.org/licenses/by/4.0/ EDITORIAL Open Access Editor’s Introduction Gang Kou Correspondence: kougang@swufe. edu.cn Southwestern University of Finance and Economics, Chengdu, China The second issue of Financial Innovation (FIN), Volume 1, No. 2 (2015) presents ten papers contributed from 26 authors and co-authors from 6 countries and areas: China, Hong Kong, Korea, Nigeria, Pakistan, and USA. The first paper, “The information content of financial survey response data”,byJ Christopher Westland, suggests that varying bias and response dispersion inherent in market data for financial studies may require increases of sample size by several orders of magnitude to compensate for information loss and in order to derive valid conclusions at a given significance and power of tests. The second paper, “Exploring the critical factors influencing online lending intentions”, by Peng Wang, Haichao Zheng, Dongyu Chen, and Liangchao Din, uses PPDai.com—the most influential online lending platform in China—as a research object to study the leading factors that affect lenders’loan trust and perception of information asymmetry. The third paper, “Volatility spillover effect between financial markets: evidence since the reform of the RMB exchange rate mechanism”, by Zhengde Xiong, and Lijun Han, uses GCMSV model to study the spillover effect between the foreign exchange market and the stock market after the reform of the RMB exchange rate mechanism. The fourth paper, “Heterogeneous expectations, IPO Underpricing and issuing mechanism”, Xiao-cheng Zhang, Miaomiao Zhang, Shao-an Huang, and Yongsheng Zhou, builds the Initial public offering (IPO) pricing and underpricing models with investors’heterogeneity based on different issuing mechanisms and provide a comparative analysis. The fifth paper, “Invigorating foreign aid administration: remittances’strategy, pro-poor and gender focus”, Adebayo Adedokun, reviews the extant foreign aid administrative norms and practices using various conceptual frameworks and diagrammatic representations with a view to identifying the inherent weaknesses which pitches its tent around the concept of remittances as a learning process for aid administration. The sixth paper, “Cash holdings, corporate governance, and acquirer returns”, by Seoungpil Ahn, and Jaiho Chung, examines the interaction of antitakeover provisions (ATPs) with firm characteristics and governance environment in explaining the cross-section of bidder announcement returns. The seventh paper, “A credit risk assessment model based on SVM for small and medium enterprises in supply chain finance”,byLangZhang, Haiqing Hu, and Dan Zhang, establishes an index system for credit risk assessment, adopting a view of the supply chain that considers the leading enterprise’screditstatus and the relationships developed in the supply chain. The eighth paper, “Performance of Islamic and conventional stock indices: empirical evidence from an emerging economy”, by Md Rana, and Waheed Akhter, investigates the hypothesis that Islamic stock index has inferior performance compared with unscreened conventional counterparts due to © 2015 Kou. Open Access This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. Kou Financial Innovation (2015) 1:18 DOI 10.1186/s40854-015-0020-7 availability of a smaller investment universe, increased monitoring costs, and limited diversification. The ninth paper, “Determining pledged loan-to-value ratio: an option pricing perspective”, by Ran Zhang, Jing Zhang, and Shuang Xu, investigates the determination of the pledged loan-to-value ratio in an option pricing environment and mainly articulated the theoretical framework and analytical method. The last paper, “Value of Big Data to Finance: Observations on an Internet Credit Service Company in China”, by Shaofeng Zhang, Wei Xiong, Wancheng Ni and Xin Li, summarizes four aspects related to the value of Big Data in Internet credit services: 1) value from large data volume that provides access to more borrowers; 2) value from prediction correctness in reducing lenders’operational cost; 3) value from the variety of services catering to different needs of lenders; and 4) value from information protection to sustain credit service businesses. Managing Editor-in-Chief Gang Kou Received: 18 December 2015 Accepted: 22 December 2015 Submit your manuscript to a journal and benefi t from: 7 Convenient online submission 7 Rigorous peer review 7 Immediate publication on acceptance 7 Open access: articles freely available online 7 High visibility within the fi eld 7 Retaining the copyright to your article Submit your next manuscript at 7 springeropen.com Kou Financial Innovation (2015) 1:18 Page 2 of 2