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Associate Professor @ University of Hong Kong
Finance Theory Group (FTG) Member
Associate Editor, Journal of Financial Markets
Email: yanxiong@hku.hk
Research interests: Financial markets, corporate finance, information economics
Publications
Publications
Personalized pricing, network effects, and commitment, with Liyan Yang. Journal of Economic Theory, Volume 227, June 2025, 106036.
Featured in: The Duke FinReg Blog, Rotman News
The strength of weak commitments: A theory of price preannouncements, with Xi Li. Accepted at Management Science.
Information sharing in financial markets, with Itay Goldstein and Liyan Yang. Journal of Financial Economics, 2025, Volume 163, 103967.
Disclosing endogenous cost information, with Xu Jiang. The Accounting Review, 2025, 1-20.
Secret and overt information acquisition in financial markets, with Liyan Yang. Review of Financial Studies, Volume 36, Issue 9, 2023, Pages 3643–3692.
Featured in: Finance theory insights
Why is certified financial reporting mandatory? A real effects perspective, with Xu Jiang and Baohua Xin. Journal of Accounting Research, 2023, 61(1), 377-413.
Channel coordination of storable goods, with Xi Li and Krista Li. Marketing Science, Vol. 42, No. 3, 2023.
Economic consequences of managerial compensation contract disclosure, with Xu Jiang. Journal of Accounting and Economics, 73 (2022) 101489.
Skill acquisition and data sales, with Shiyang Huang and Liyan Yang. Management Science, Vol. 68, No. 8, August 2022, Pages 5557-6354.
Featured in: phys.org, hedgeweek, EurekAlert
Disclosure, competition, and learning from asset prices, with Liyan Yang. Journal of Economic Theory, Volume 197, October 2021, 105331.
Information bias in the proxy advisory market, with Shichao Ma. Review of Corporate Finance Studies, Volume 10, Issue 1, March 2021, Pages 82–135.
Featured in: SEC comment letter, RealClearPublicAffairs.com
2022 RCFS Rising Scholar Award
Working Papers
Working Papers
Disagreement and Bond PEAD, with Yoshio Nozawa and Yancheng Qiu. R&R at Management Science
2022 MFA, ABFER, CICF, 2021 FMA
Too much (early) information? The option to test the waters before going public, with Michele Dathan. R&R at Management Science
Media coverage: CLS Blus Sky Blog
2021 MFA, EasternFA, 2020 Showcasing Women in Finance (postponed)
Data Regulation in Credit Markets, with Uday Rajan
2025 AFA, EuroFA, 2024 MFA, FIRS, ABFER-JFDS Conference on AI and Capital Markets, 2023 Hong Kong Conference for Fintech, AI, and Big Data in Business
Designing Index Provision, with Yizhou Xiao
2024 CFRC, Cambridge Corporate Finance Theory Symposium, 2023 Fall FTG Meeting Short Paper Session
Institutional Ownership Concentration and Informational Efficiency, with Liyan Yang and Zexin Zheng
2025 CICF, NFA, SIEM big data and market microstructure conference, FTG Summer School evening sessions, ABFER poster session, 2024 PHBS-CUHKSZ Workshop, Greater Bay Area Finance Workshop
Others
Others
Comments on "Information acquisition and expected returns: Evidence from EDGAR search traffic" (Non peer-reviewed) Journal of Economic Dynamics and Control, 14 April 2022, 104385.
VaR constrained asset pricing with relative performance, with Xiangbo Liu, Zhigang Qiu. Economics Letters, 121.2 (2013): 174-178.
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