Demystifying Behavioral Finance
解密行为金融学
Best Paper in Securities Commission and 10th RENPER
证券委员会最佳论文奖及第十届RENPER最佳科研奖
Analysts’ forecast optimism and cash holding: evidence from China
分析师预测乐观与企业现金持有:来自中国的证据
AI-Driven Market Predictions and Investment Strategies
人工智能驱动的市场预测与投资策略
Examining the role of artificial intelligence in forecasting market trends and optimizing investment decision-making. (3 researchers)
ESG Sentiment and Its Impact on Market Volatility
ESG情绪及其对市场波动的影响
Investigating how investor sentiment, attention, and news sentiment influence the volatility and trading patterns of ESG-focused stocks. (5 researchers)
Machine Learning in Financial Market Behavior Analysis
金融市场行为分析中的机器学习应用
Applying machine learning models to detect herding behavior, overreaction, and trading anomalies in global financial markets. (4 researchers)
AI-Enabled Fraud Detection and Risk Management
人工智能赋能的欺诈检测与风险管理
Leveraging machine learning and forensic analytics to improve fraud detection, regulatory compliance, and corporate risk mitigation. (4 researchers)
Full Book
Ooi, K. L. (2025). Demystifying Behavioral Finance: Foundational Theories to Contemporary Applications and Future Directions. Springer Nature.
Edited Book
Loang, O. K. (Ed.). (2025). Psychological Drivers of Herding and Market Overreaction. IGI Global. https://doi.org/10.4018/979-8-3693-7827-4
Faxing, L. & Kok Loang, O. (Eds.). (2025). Investment Strategies in the Age of Technological Innovation and Emerging Markets. IGI Global. https://doi.org/10.4018/979-8-3693-8583-8
Xiong, X. & Ooi Kok, L. (Eds.). (2025). Unveiling Investor Biases That Shape Market Dynamics. IGI Global. https://doi.org/10.4018/979-8-3693-9380-2
Chapter in Book
Loang, O. K. (2025). Emotional Contagion and Financial Markets: The Interplay of Fear, Greed, and Herding. In O. Loang (Ed.), Psychological Drivers of Herding and Market Overreaction (pp. 79-100). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-7827-4.ch004
Loang, O. K. (2025). Herding Through the Ages: Historical Perspectives and Modern Implications. In O. Loang (Ed.), Psychological Drivers of Herding and Market Overreaction (pp. 123-144). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-7827-4.ch006
Ze, Y. & Loang, O. K. (2025). Cognitive and Emotional Triggers of Collective Investment Patterns in Stock Markets. In L. Faxing & O. Kok Loang (Eds.), Investment Strategies in the Age of Technological Innovation and Emerging Markets (pp. 165-186). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-8583-8.ch006
Ze, Y. & Loang, O. K. (2025). Investor Biases and Reaction Dynamics Exploring the Psychological Mechanisms Behind Market Fluctuations: RTE. In L. Faxing & O. Kok Loang (Eds.), Investment Strategies in the Age of Technological Innovation and Emerging Markets (pp. 187-210). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-8583-8.ch007
Ze, Y. & Loang, O. K. (2025). Strategic Flexibility in Investment Portfolios: Adapting to Technological Advancements and Market Volatility in Emerging Economies. In X. Xiong & L. Ooi Kok (Eds.), Unveiling Investor Biases That Shape Market Dynamics (pp. 251-272). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-9380-2.ch010
Ze, Y. & Loang, O. K. (2025). The Role of Technological Innovation in Shaping Investment Strategies in Emerging Markets: A Study on Risk and Return Dynamics. In X. Xiong & L. Ooi Kok (Eds.), Unveiling Investor Biases That Shape Market Dynamics (pp. 273-296). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-9380-2.ch011
Chapter in Book
Candra, S., Loang, O.K., Azzahro, F., Suryadi, D., Al Irsyad, R.R. (2024). How Men React to Social Media Marketing is New Evidence for Marketers. In: El Khoury, R. (eds) Technology-Driven Business Innovation. Studies in Systems, Decision and Control, vol 223. Springer, Cham. https://doi.org/10.1007/978-3-031-51997-0_1
FaXing, L., Loang, O.K. (2024). Green Investing and Financial Education: The Case of China’s A-Share Market. In: El Khoury, R. (eds) Technology-Driven Business Innovation. Studies in Systems, Decision and Control, vol 223. Springer, Cham. https://doi.org/10.1007/978-3-031-51997-0_3
Fu, T., Loang, O.K. (2024). The Roles of ESG Disclosure, Innovation in Improving Firm Financial Performance: Evidence from China. In: Hamdan, R.K., Buallay, A. (eds) Artificial Intelligence (AI) and Customer Social Responsibility (CSR). Studies in Systems, Decision and Control, vol 517. Springer, Cham. https://doi.org/10.1007/978-3-031-50939-1_16
Gang, X., Loang, O.K. (2024). The Interplay Between Interest Rates, Volatility, and Herding: Insights from the Chinese Shanghai Stock Market. In: El Khoury, R. (eds) Technology-Driven Business Innovation. Studies in Systems, Decision and Control, vol 223. Springer, Cham. https://doi.org/10.1007/978-3-031-51997-0_9
Gang, X., Weili, Z., Loang, O.K. (2024). The Role of Volatility in Mediating the Impact of Reserve Requirement Ratio on Herding in Chinese Shanghai Stock Exchange. In: El Khoury, R. (eds) Technology-Driven Business Innovation. Studies in Systems, Decision and Control, vol 223. Springer, Cham. https://doi.org/10.1007/978-3-031-51997-0_10
Jing, W., Loang, O.K. (2024). Live Streaming of E-Commerce in China: Evidence from Impulsive Chinese Tea Purchases. In: Alareeni, B., Elgedawy, I. (eds) Opportunities and Risks in AI for Business Development. Studies in Systems, Decision and Control, vol 545. Springer, Cham. https://doi.org/10.1007/978-3-031-65203-5_91
Lanju, T., Loang, O.K. (2024). Unraveling the Fintech Puzzle: Technology Shaping Commercial Bank Lending Risk. In: Alareeni, B., Elgedawy, I. (eds) Opportunities and Risks in AI for Business Development. Studies in Systems, Decision and Control, vol 545. Springer, Cham. https://doi.org/10.1007/978-3-031-65203-5_78
Le, W., Loang, O.K. (2024). Revitalising China Rural Industries Through Innovation and Entrepreneurship Education: A Conceptual Framework. In: El Khoury, R. (eds) Technology-Driven Business Innovation. Studies in Systems, Decision and Control, vol 223. Springer, Cham. https://doi.org/10.1007/978-3-031-51997-0_4
Naveenan, R. V., Nanjundaswamy, A., & Loang, O. K. (2024). Revolutionizing digital financial inclusion with central bank digital currencies. In P. K. Doi (Ed.), Global developments in central bank digital currency (pp. 21). IGI Global. https://doi.org/10.4018/979-8-3693-5588-6.ch013
Tang, H., Loang, O.K. (2024). Does ESG Performance Improve the Financial Performance of Enterprises in China? The Mediating Role of Financial Constraints. In: Hamdan, R.K., Buallay, A. (eds) Artificial Intelligence (AI) and Customer Social Responsibility (CSR). Studies in Systems, Decision and Control, vol 517. Springer, Cham. https://doi.org/10.1007/978-3-031-50939-1_20
Xin, L., Loang, O.K. (2024). Conceptual Framework: Understanding the Influence of Monetary and Fiscal Policies on Investor Behavior in China’s Renewable Energy Sector. In: El Khoury, R. (eds) Technology-Driven Business Innovation. Studies in Systems, Decision and Control, vol 223. Springer, Cham. https://doi.org/10.1007/978-3-031-51997-0_8
Xu, M., Loang, O.K. (2024). Industrial Agglomeration, Technological Innovation, and Poverty Alleviation: Evidence from China. In: Hamdan, R.K., Buallay, A. (eds) Artificial Intelligence (AI) and Customer Social Responsibility (CSR). Studies in Systems, Decision and Control, vol 517. Springer, Cham. https://doi.org/10.1007/978-3-031-50939-1_17
Yan, W.Y., Loang, O.K. (2024). Building a Research Model for the Relationship Between Enterprise Innovation Values and Employees’ Innovation Behavior: With Innovation Self-efficacy as a Mediator. In: El Khoury, R. (eds) Technology-Driven Business Innovation. Studies in Systems, Decision and Control, vol 223. Springer, Cham. https://doi.org/10.1007/978-3-031-51997-0_5
Yang, W., Loang, O.K. (2024). Systematic Literature Review: Behavioural Biases as the Determinants of Herding. In: El Khoury, R. (eds) Technology-Driven Business Innovation. Studies in Systems, Decision and Control, vol 223. Springer, Cham. https://doi.org/10.1007/978-3-031-51997-0_7
Yang, W., Loang, O.K. (2024). Unpacking Financial Herding Behaviour: A Conceptual Study of Youth and Working Adults in Chongqing, China. In: El Khoury, R. (eds) Technology-Driven Business Innovation. Studies in Systems, Decision and Control, vol 223. Springer, Cham. https://doi.org/10.1007/978-3-031-51997-0_6
Loang, Ooi Kok (2025). Can machine learning surpass human investors? Evidence from adaptive herding behaviour in US, China and India, JOURNAL OF APPLIED ECONOMICS. 28(1). doi:10.1080/15140326.2024.2435796
Loang O.K. (2025). Can Herding Be Adaptive? Evidence from Markets Sentiment, News Sentiment and Happiness in Global Energy Markets, Millennial Asia. . doi:10.1177/09763996241313001
Ooi, K.L. (2025), "Market, news sentiments, and twitter happiness on adaptive herding behaviour of investors in Shariah-compliant stocks", Journal of Islamic Accounting and Business Research, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JIABR-06-2024-0219
Loang O.K. (2024). Financial stability at risk: evidence from market overreaction and herding behaviour in developed and emerging markets, China Finance Review International. . doi:10.1108/CFRI-06-2024-0322
Loang O.K. (2024). Sustainability s Impact of ESG-Infused Policies on Leading Economic Indicators in Asian Economies, Journal of Sustainability Research. 6(3). doi:10.20900/jsr.20240059
Loang O.K., Candra S., Naveenan R.V. (2024). STABILITY IN CHAOS: IMPACT OF MONETARY, FISCAL, AND FIRM CHARACTERISTICS ON INVESTOR SENTIMENT IN ASIAN EMERGING MARKETS, International Journal of Business and Society. 25(3), 1145-1164. doi:10.33736/ijbs.8573.2024
Suresh G., Loang O.K. (2024). The Rationality Conundrum: Exploring Herd Mentality among Individual Investors in the Indian Stock Market, Indian Journal of Finance. 18(6), 26-45. doi:10.17010/ijf/2024/v18i6/173967
Naveenan, R., V; Loang, Ooi Kok; Iqbal, Najaf; Suresh, G.; Shah, Mohd Asif (2024). Analyzing corporate disclosure in Indian banks: assessing compliance, corporate attributes, and performance implications, COGENT ECONOMICS & FINANCE. 12(1). doi:10.1080/23322039.2023.2297589
Ooi, Kok Loang (2024). Analyst forecasting and market liquidity dynamics: A comparative analysis of U.S. and Chinese markets pre and post COVID-19, JOURNAL OF GENERAL MANAGEMENT. . doi:10.1177/03063070231225603
Candra, S., Frederica, E., Putri, H.A. and Loang, O.K. (2024), "The UTAUT approach to Indonesia’s behavioral intention to use mobile health apps", Journal of Science and Technology Policy Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JSTPM-10-2022-0175
Faxing, L., & Leong, O. K. (2024). Conceptual Framework of News Information and Investor Behaviour on Herding in Green Investments. International Journal of Accounting, Finance and Business (IJAFB), 9 (55), 166 - 178.
Loang, O. K. (2023). The Road to Sustainable Investing: Corporate Governance, Sustainable Development Goals, and the Financial Market. Institutions and Economies, 15(3), 33-57.
Loang, O. K. (2024). STABILITY OF SHARIAH-COMPLIANT STOCKS IN INDONESIA, MALAYSIA, AND GCC: THE ROLES OF MONETARY AND FISCAL POLICIES AND CONTAGION. Journal of Islamic Monetary Economics and Finance, 10(1), 155-176. https://doi.org/10.21098/jimf.v10i1.1899
Shukun, L., & Loang, O. K. (2024). China broadcaster's social presence and ad content persuasiveness: Mediation role of arousal and emotion. International Journal of Accounting, Finance and Business (IJAFB), 9 (55), 280 - 292.
Shukun, L., & Loang, O. K. (2024). China impulsive purchasing behaviour and hedonic motivation: The impact of electronic word of mouth. International Journal of Accounting, Finance and Business (IJAFB), 9 (55), 293 - 308.
Wu, S., & Ooi, K. L. (2024). The influence of online learning components on academic motivation in China vocational training programs: The mediating role of student engagement. International Journal of Accounting, Finance and Business, 9(55), 254-267. https://doi.org/10.55573/IJAFB.095520
Wu, S., & Ooi, K. L. (2024, July). Academic support, peer pressure, and emotional intelligence. International Journal of Accounting, Finance and Business, 9(55), 240-253.
Xin, L., & Leong, O. K. (2024). Herding Behavior in China's Green Energy Stocks. International Journal of Accounting, Finance and Business (IJAFB), 9(55), 157 - 165.
Zhan, Y., Nor Fauzi, N. F. S., & Ooi, K. L. (2024). Driving success: How fintech and digital innovation shape firm performance in China's financial sector. International Journal of Business and Technology Management, 6(3), 559–573.
Liu, X., & Loang, O. K. (2023). Analysts’ forecast optimism and cash holding: Evidence from China. Finance Research Letters, 57, 104237.
Loang, O. K. (2023). Corporate Governance and Islamic Behavioural Finance: A Review from Malaysia and GCC Countries. Indian Journal of Corporate Governance, 16(1), 28-51. https://doi.org/10.1177/09746862231178959
Loang, O. K. (2023). INFORMATION EFFICIENCY IN THE U.S. AND SHARIAH-COMPLIANT STOCKS IN MALAYSIA DURING COVID-19. Journal of Islamic Monetary Economics and Finance, 9(3), 465-490.
Loang, O. K. (2023). SUSTAINABLE DEVELOPMENT GOALS, HERDING, AND RISK-AVERSE BEHAVIOR IN MUSLIM COUNTRIES. Journal of Islamic Monetary Economics and Finance, 9(2), 313-336. https://doi.org/10.21098/jimf.v9i2.1611
Loang, O. K., Ahmad, Z., & Naveenan, R. V. (2023). Non-performing loans, macroeconomic and bank-specific variables in Southeast Asia during COVID-19 pandemic. The Singapore Economic Review, 68(03), 941-961.
Loang, O.K. and Ahmad, Z. (2023), "Economic and political factors on herding in Islamic GCC stock markets during COVID-19 pandemic", International Journal of Islamic and Middle Eastern Finance and Management, Vol. 16 No. 4, pp. 819-834. https://doi.org/10.1108/IMEFM-01-2022-0019
Loang, Ooi Kok (2023). Risk-Averse Behaviour in Emerging Markets: The Role of Economic Indicators, Bank Characteristics and Developed Markets. Jurnal Ekonomi Malaysia, 57(1), 33–47. Jurnal Ekonomi Malaysia http://dx.doi.org/10.17576/JEM-2023-5701-04
Subramaniam, G., Mow, G. L., Mee, C. K., Loang, O. K., & Ahmad, Z. (2023). Social Impact of Sustainable Development Goals and Corporate Governance on Malaysian Government-Linked Companies–The Malaysian Perspective. IPN JOURNAL OF RESEARCH AND PRACTICE IN PUBLIC SECTOR ACCOUNTING AND MANAGEMENT, 13(1), 129-147.
Yanyan, W., & Loang, O. K. (2023). The Impact of Enterprise Innovation Values on Employees' Innovative Behavior: An Analysis of Mediating Effects. International Journal of Advanced Research in Economics and Finance, 5(4), 71-82.
Loang, O. K. (2022). Overreaction, Investor Sentiment and Market Sentiment of COVID-19. Vision. https://doi.org/10.1177/09722629221087386
Loang, O. K., & Ahmad, Z. (2022). Herding And Market Overreaction: Evidence from Shariah-Compliant Stocks in Malaysia. Global Business & Management Research, 14(3s), 1-15.
Loang, O. K., & Ahmad, Z. (2024). Does Volatility Cause Herding in Malaysian Stock Market? Evidence from Quantile Regression Analysis. Millennial Asia, 15(2), 197-215. https://doi.org/10.1177/09763996221101217
Loang, O.K. and Ahmad, Z. (2022), "Market overreaction, firm-specific information and macroeconomic variables in US and Chinese markets during COVID-19", Journal of Economic Studies, Vol. 49 No. 8, pp. 1548-1565. https://doi.org/10.1108/JES-10-2021-0543
OOI, Kok Loang et al. Benchmarking Malaysian Government-Linked Companies’ Corporate Governance and Sustainable Development Goals Performance with Public Companies of Developed Countries. IPN JOURNAL OF RESEARCH AND PRACTICE IN PUBLIC SECTOR ACCOUNTING AND MANAGEMENT, 12(1), 171 - 202.
Loang,O. & Ahmad,Z.(2021).Does volatility mediate the impact of analyst recommendations on herding in Malaysian stock market?. Economics and Business Review,7(4) 54-71. https://doi.org/10.18559/ebr.2021.4.4
Loang, O. K., & Ahmad, Z. (2020). Social Factors and Herd Behaviour in Developed Markets, Advanced Emerging Markets and Secondary Emerging Markets. Journal of Contemporary Eastern Asia, 19(1), 97–122. https://doi.org/10.17477/JCEA.2020.19.1.097
Men, L. R., Albdiwy, F., & Loang, O. K. (2024). Role of motivation, compensation, and feedback in reducing employee turnover: A study on Generation Z in Malaysia. In Proceedings of the 4th ASNet Virtual Conference on Social Sciences, Education, and Technology (AVSET2024) (pp. 421–434). Kuala Lumpur, Malaysia. e-ISBN: 978-967-2476-67-2.
Tao, G., Loang, O.K. (2024). From Clicks to Carts: Analyzing the Dynamics of China College Students’ Online Consumption Behaviour. In: Alareeni, B., Hamdan, A. (eds) Navigating the Technological Tide: The Evolution and Challenges of Business Model Innovation. ICBT 2024. Lecture Notes in Networks and Systems, vol 1082. Springer, Cham. https://doi.org/10.1007/978-3-031-67434-1_17
Zhan, Y., Nor Fairuz Syazana Nor Fauzi, & Ooi Kok Loang. (2024). Unlocking growth: The financial pillars of success for Chinese SMEs. In Proceedings of the 4th International Virtual Conference on Business, Innovations and Society (IVBIS2024) (pp. 360-373). Kuala Lumpur, Malaysia. IVBIS. e-ISBN: 978-967-2476-66-5.
Candra, S., Limantoro, H. S., & Loang, O. K. (2023, June). Students' Attitudes and Behaviors Influence Learning Management System Adoption. In Proceedings of the 2023 9th International Conference on Frontiers of Educational Technologies (pp. 72-77).
Candra, S., Nita, S., Loang, O. K., Basmantra, I. N., & Wong, N. K. (2022, August). Consumer Buying Behavior in Online Travel Agent: A Preliminary Finding. In 2022 International Conference on Information Management and Technology (ICIMTech) (pp. 24-27). IEEE.
Saer O.R., Caesar L.A.Y., Carnika W., Candra S., Loang O.K., Larasati A. (2024). The Reality of Consumer Behavior in Online Shopping After the Outbreak in Indonesia, 11th International Conference on ICT for Smart Society: Integrating Data and Artificial Intelligence for a Resilient and Sustainable Future Living, ICISS 2024 - Proceeding. . doi:10.1109/ICISS62896.2024.10751044
ShanShan W., Loang O.K. (2024). The Mediated Moderation Effect of Teacher Job Satisfaction and School Culture in the Relationship Between Leadership Strategies and Teacher Engagement in China Music Education, Lecture Notes in Networks and Systems. 1081 LNNS, 1-11. doi:10.1007/978-3-031-67437-2_1
ShuKun L., Loang O.K. (2024). Impact of Environmental Performance, Governance Practices, Social Responsibility Initiatives, and Renewable Energy Investment on Financial Performance of China Stock Exchange-Listed Companies: The Mediating Role of Corporate Sustainability Disclosure, Lecture Notes in Networks and Systems. 1081 LNNS, 12-22. doi:10.1007/978-3-031-67437-2_2
Tao G., Loang O.K. (2024). From Clicks to Carts: Analyzing the Dynamics of China College Students Online Consumption Behaviour, Lecture Notes in Networks and Systems. 1082 LNNS, 180-189. doi:10.1007/978-3-031-67434-1_17
Xingyu L., Loang O.K. (2024). Drivers of Green Consumption: Insights from Residents of Henan Province, China, Lecture Notes in Networks and Systems. 1081 LNNS, 508-522. doi:10.1007/978-3-031-67437-2_48
Zhang H., Loang O.K. (2024). Purchase Intention of Fresh Agricultural Products in Shandong, China: The Influence of Livestreaming Marketing User Experience, Lecture Notes in Networks and Systems. 1082 LNNS, 126-136. doi:10.1007/978-3-031-67434-1_12
The Practice of Corporate Governance and Sustainable Development Goals (SDGs) between public sector companies and developed countries, Kolokium Penyelidikan 2022, Jabatan Akauntan Negara Malaysia (National) (05 Oct 2022 - 06 Oct 2022)
Research Design: Quantitative vs Qualitative, PhD Research Series Workshop, City University Malaysia (University) (01 Jun 2023 - 01 Jun 2023)
Disruptive in Innovation and Technology, Guest Lecture Series, Binus University (University) (01 Dec 2022 - 01 Dec 2022)
The Present and Future of Financial Technologies, 7th International Conference on Applied Sciences, Engineering, Technology And Management (ICASETM-2024), Institute For Educational Research and Publication (International) (21 Oct 2024 - 22 Oct 2024)
Malaysia ESG: Past, Present and Future, National Forum: Economy in ESG Era, ESG Malaysia (National) (14 Sep 2024 - 14 Sep 2024)
Digital Investment and Fundings, KTC Business Series, KTC Group (National) (07 Nov 2023 - 07 Nov 2023)
Asian Tigers: Malaysia's Fiscal and Monetary Policies, Kuching Advancing Asia Economic Forum 2023, Malaysian Huang Chamber of Commerce (National) (01 Oct 2023 - 05 Oct 2023)
ESG Sustainable Solutions and Regulations, ESG Sustainability Conference 2023, National ESG Association (National) (23 Aug 2023 - 23 Aug 2023)
Cryptocurrency: The Substitute for Traditional Money?, 1st Fintech Symposium, Gulf University (International) (22 Dec 2022 - 22 Dec 2022)
How startups are changing the world?, BIT EXPO 2022, BIT EXPO (National) (26 Aug 2022 - 26 Aug 2022)
Business Ecosystems and Economic Growth, Dr. D. Y. Patil B-School International Conference, Dr. D. Y. Patil B-School (International) (10 Apr 2022 - 10 Apr 2022)
The Emergence of Cryptocurrency In The Era of Digital Business, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Universitas Muhammadiyah Yogyakarta (International) (29 Mar 2022 - 29 Mar 2022)