Announcing Second Annual Volatility Institute at NYU Shanghai (VINS) Conference - 2016 Online Proceedings on SSRN

In cooperation with the Volatility Institute at NYU Shanghai (VINS), the Financial Economics Network (FEN) is pleased to announce the Second Annual Volatility Institute at NYU Shanghai (VINS) Conference - 2016. The proceedings are available to all users at no charge and contain abstracts of publicly available papers presented at the conference with links to the full text in the SSRN eLibrary.

Second Annual Volatility Institute at NYU Shanghai (VINS) Conference - 2016 Logo

There is a large and growing literature focused on the comparative behavior of institutional and retail investors in capital markets. These papers document for various investor types: (i) differential trading patterns, (ii) typical characteristics of stocks bought by these investors, (iii) herding behavior under certain conditions, (iv) the return performance against benchmarks, and (v) various forms of speculation. Investor behavior is then studied for its impact on market efficiency, including liquidity, price discovery and volatility. Many of these studies focus on well-developed capital markets. As emerging markets are less developed, retail investors play an even greater role in trading. A case in point is China whose stock market capitalization is second highest globally, yet is underdeveloped and includes a large proportion of retail investors.

The goal of The Second Annual Volatility Institute Conference at NYU Shanghai was to better understand the effect of retail versus institutional trading on capital markets. While the focus is on all markets, submissions were especially encouraged that focused on emerging capital markets, China in particular.

View Papers:
Conference URL:


SSRN's searchable electronic library contains abstracts, full bibliographic data, and author contact information for more than 718,500 papers, more than 331,400 authors, and full text for more than 605,700 papers. The eLibrary can be accessed at

SSRN supports open access by allowing authors to upload papers to the eLibrary for free through the SSRN User HeadQuarters at, and by providing free downloading of those papers.

Downloads from the SSRN eLibrary in the past 12 months total more than 13.5 million, with more than 109.3 million downloads since inception.

Searching on an individual's name in the author field on our search page at provides the best single professional directory of scholars in the social sciences and humanities. Complete contact information for authors, including email, postal, telephone, and fax information, is available there.

SSRN's objective is to provide rapid, worldwide distribution of research to authors and their readers and to facilitate communication among them at the lowest possible cost. In pursuit of this objective, we allow authors to upload papers without charge. And, any paper an author uploads to SSRN is downloadable for free, worldwide.

The Financial Economics Network (FEN) distributes other eJournals. You can subscribe to these eJournals through the SSRN User HeadQuarters at


Michael C. Jensen
Financial Economics Network