On January 2nd,The Hujiang Economics and Management Forum Series (82nd Session) was Successfully Held. Assistant Professor Xia Xu from the Department of Finance at ESSCA Business School in France was invited to give an academic presentation titled Market Neutrality and Beta Crashes for faculty and students of the business school.

The presentation mainly discusses the betting against beta (BAB) strategy, which has had a significant impact on both the academic field of finance and investment practices in recent years. The report points out that the BAB strategy, as a beta-neutral strategy, can result in negative market timing and negative volatility timing during periods of high market volatility. The BAB strategy does not exhibit desensitization to market volatility. The report further explores improving the performance of the BAB strategy through the use of stochastic dominance.

Xiaoshan Su provides a summary and commentary on the report, suggesting that it would be beneficial to compare different long and short asset selection methods in a long-short portfolio to enhance the performance of the BAB strategy. The faculty and students present show strong interests in Xia Xu's research, actively engaging in fruitful academic exchanges.