Refereed Publications (SSRN Author Page)

"Does Customer-base Structure Influence Managerial Risk-taking Incentives"

Journal of Financial Economics, forthcoming.

with Jie Chen, Xuan Tian, and Bin Xu

"Is Language an Economic Institution? Evidence from R&D"

Journal of Corporate Finance, Vol. 62, 101578, Pages 1-27, 2020.

with Daniel Chi, Yun Tang, and Bin Xu

• Media coverage: Harvard Business Review, Idea Watch

"The Dynamics of Performance Volatility and Firm Valuation"

Journal of Financial and Quantitative Analysis, Vol. 52, Pages 111-142, 2017.

with Daniel Chi

"A Re-examination of Credit Rationing in the Stiglitz and Weiss Model"

Journal of Money, Credit, and Banking, Vol. 49, Pages 1059-1072, 2017.

with Li Zhang

"Product Market Threats and the Value of Corporate Cash Holdings"

Financial Management, Vol. 45, Pages 705-735, 2016.

with Daniel Chi

• Accepted on the first round and featured as a FM Workshop “Success Story”, link.

"Credit Rationing by Loan Size: A Synthesized Model"

Quarterly Review of Economics and Finance, Vol. 55, Pages 20-27, 2015.

with Einar Kjenstad and Li Zhang

Working Papers

"Do Major Customers Keep Firms out of Wrongdoing? Evidence from Major Customer Relationships"

with Jie Chen, Xuan Tian, and Bin Xu

"Upfront Fees and Prepayment Risk in Bank Loans"

with B. Espen Eckbo and Karin Thorburn

Semifinalist of the 2019 FMA Best Paper in Financial Markets and Institutions.

"Why Don't Issuers Get Upset about IPO Underpricing: Evidence from the Loan Market"

with Donghang Zhang and Xiaoyu Zhang

"Competition and loan contracting: Evidence from covenants and performance pricing"

with Einar Kjenstad and Xiaoyu Zhang

"Competition and Credit Lines as a Source of Corporate Liquidity"

with Daniel Chi, Zhou Lu, and Xiaoyu Zhang

"Home Equity-based Refinancing and Household Financial Difficulties: The Case of Norway"

with Synne Almaas, Line Bystrom, and Fredrik Carlsen

• Permanent working paper. The 32nd FIBE Prize.

Working in Progress

"Do Firms Respond to Industry Rising Stars?"

with Ran Duchin and Bin Xu

"A Theory of Debt Prepayment and Prepayment Penalties"

with Qi Liu

"Going Public and Loan Contracting"

with Xiaoyu Zhang, ...

Research Interest

Theoretical and Empirical Corporate Finance, Banking;

Financial Contracts, IPO, Corporate Liquidity, Product Market Competition, Crowdfunding

Referees for Journals

Management Science, Journal of Corporate Finance, Journal of Money, Credit, and Banking, Journal of Banking and Finance, Games and Economic Behavior, Journal of Empirical Finance, Economica, European Financial Management, European Journal of Finance, Journal of Financial Research, International Game Theory Review, International Journal of the Economics of Business, China Finance Review International, Quarterly Review of Economics and Finance, Journal of Corporate Accounting and Finance, Journal of Contemporary Accounting and Economics, Financial Review, SAGE Open, Journal of Pension Economics and Finance