I am currently a tenured associate professor at the Department of Finance, Norwegian School of Economics (NHH). I joined NHH in July 2015, after working as a postdoc for two and a half years at the Norwegian University of Science and Technology (NTNU).
I completed my PhD at NHH in late 2012, MsC at BI Norwegian Business School in 2008, and B.E. at University of Science and Technology (USTC中国科技大学) in 1998. During my graduate study, I have been a visiting scholar at Wharton Finance Institutions Center (2011-2012), Norwegian Central Bank (2011), Swiss Finance Institute (2010), and University of Minnesota (2007).
Before moving to Norway, I had been for several years a manager and earlier an engineer of China Telecom (NYSE: CHA), Shenzhen Special Economic Zone.
Academic Curriculum Vitae (PDF version)
Theoretical and Empirical Corporate Finance, Banking; Financial Contracts, IPO, Corporate Liquidity, Product Market Competition, Crowdfunding
"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
"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
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.
"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, ...
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, 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