Research
Research Interests
Corporate Governance, Corporate Finance, Institutional Investors, Corporate Investment/Innovation
Current Research Topics
Proxy Voting, Shareholder Activism, Technological Innovation, Boards of Directors
Working Papers (Scheduled future meetings/semninars are highlighted in red!)
“Do Independent Expert Directors Matter?” with Ronald Masulis (UNSW), Christian Ruzzier (Universidad de San Andres), and Sheng Xiao (Westminster)
- presented at Delaware Corporate Governance Symposium
“Shareholder Rights and Tunneling: Evidence from a Quasi-Natural Experiment"
Business Publications
"Internalizing Governance Externalities: The Role of Institutional Cross-ownership" with Jie (Jack) He (U Georgia) and Jiekun Huang (UIUC) Journal of Financial Economics, November 2019
- presented at WFA 2017, EFA 2018 (Warsaw), CICF 2017, Toulouse, WUSTL Annual Conference on Corporate Finance,...
“Firm-specific knowledge assets and employment arrangements: Evidence from CEO compensation design and CEO dismissal” with Heli Wang (Singapore Management University) Guoli Chen (INSEAD) Strategic Management Journal, September 2017
“Reputation Concerns of Independent Directors: Evidence from Individual Director Voting” with Wei Jiang (Columbia), Hualin Wan (Lixin) Review of Financial Studies, March 2016
- presented at AFA 2014, EFA 2012 (Copenhagen), LBS Summer Finance Symposium 2013, FIRS 2013,...
“Increase in Takeover Protection and Firm Knowledge Accumulation Strategy” with Heli Wang (Singapore Management University) Jinyu He (HKUST) Strategic Management Journal, December 2016
“CEO Duality and Firm Performance: Evidence from an Exogenous Shock to the Competitive Environment” with Tina Yang (Villanova) Journal of Banking and Finance, 2014
- presented at NFA 2013, FMA 2011, SGF Conference 2013,...
“How Do Agency problems Affect Firm Value? Evidence from China” (published version) with Sheng Xiao (Westminster) European Journal of Finance, 2014
“A Cross-Country Study of Financial Development, Government Ownership of Banks, and Firm Innovation” with Sheng Xiao (Westminster) Journal of International Money and Finance, 2012
“When Bank Loans are Bad News: Market Reaction to Loan Announcements under the Risk of Expropriation” (with Weihua Huang, Maastricht University and Armin Schwienbacher, SKEMA) Journal of International Financial Markets, Institutions & Money, 2012
Economics Publications
“The Impact of Antitrust Regulations on Firm Market Value - Evidence from Chinese and U.S. Internet Platforms” with Yong Huang (UIBE), Nina Yin (CUFE), and Yanhua Vanessa Zhang (Brattle), Review of Industrial Organization, 2024
Work in Progress:
Multiple projects on shareholder voting using ISS voting data.
"Diversity in Credit Rating"
Old Working Papers (on Theoretical Contract Theory)
“Policy Persistence in a Repeated Common Agency Game”, 2008
presented at 2008 North American Winter Meeting of the Econometric Society
“The Irrelevance of Transparency: Information Control in Consultation under Career Concerns”, 2008
Selected Publications in Chinese
“Top Management Turnover in China Listed Companies: An Empirical Analysis” Reform Issue 6, Nov 2001, 29-34 (in Chinese)
(Reform was ranked 2nd among all economics and finance journal by CSSIC impact factor in 2001)
“Top Management Turnover in China Listed Companies: An Empirical Analysis”
Master Thesis, 2002, Sichuan University (in Chinese)
“Corporate diversification, firm performance and ownership structure", (with Sheng Xiao) Web journal of Chinese Management Review, 2003,Vol. 6, No. 4, pp.79-91. http://cmr.ba.ouhk.edu.hk/cmr/webjournal/cmrv6n4.htm (in Chinese)
Media Coverage
JFE 2019: BloombergView, Columbia Law School Blue Sky Blog
RFS 2016: Harvard Law School Forum on Corporate Governance and Financial Regulation