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- Published online May 30, 2025.
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- Ravipa Rojasavachai, quantitative analyst1,
- Florent Rouxelin, assistant professor2,
- Li Yang, professor3, and
- Yumeng Gao, assistant professor4
- 1(r.rojasavachai{at}unsw.edu.au) HOPE Housing Fund Management, 233 Castlereagh Street, Sydney, NSW 2000, Australia
- 2(rouxelin{at}fiu.edu) finance at the College of Business, Florida International University, FL 33199, USA, and is the corresponding author.
- 3(l.yang{at}unsw.edu.au) finance at the School of Banking and Finance, UNSW Business School, University of New South Wales, Sydney, NSW 2052, Australia.
- 4(dr.yumeng.gao{at}gmail.com) finance at the David Nazarian College of Business and Economics, California State University, Northridge, CA, USA






