Welcome to my site! I am a researcher and a teacher @ China Europe International Business School (CEIBS).

My research interests are in Sustainable Finance, Consumer Finance and Banking.

I teach Sustainable / Green Finance (in both English and Chinese), 企业市值管理 (in Chinese), 股权激励 (in Chinese) at CEIBS, for the EMBA (core and elective), MBA (core and elective) and various Executive Education programs.

Email: hongyushan(at)ceibs.edu | SSRN | Google Scholar | CEIBS Website | Data

Upcoming In-Person Conferences: EFA (Paris, France), NFA (Calgary, Canada), Paris December Meeting (Paris, France)

Employment

2025 - Present: Associate Professor of Finance (tenured), China Europe International Business School (CEIBS)

2025 - Present: Associate Editor, The Financial Review

2025 Feb - May: Visiting Faculty, Hong Kong University (HKU)

2022 - 2024: Assistant Professor of Finance, China Europe International Business School (CEIBS)

2019 - 2024: Assistant Professor of Finance, Gabelli School of Business, Fordham University (on leave between 2022 and 2024)

Publications

Corporate ESG Profiles and Banking Relationships, The Review of Financial Studies, Volume 35, Issue 7, July 2022, Pages 3373–3417

with Joel Houston SSRN

Presentations: 2020 Fixed Income and Financial Institutions Conference (FIFI), 2019 University of Oklahoma-RFS Energy and Commodities Finance Research Conference

Corporate Climate Risk: Measurements and Responses, The Review of Financial Studies, Volume 37, Issue 6, June 2024, Pages 1778–1830 [Data Website]

with Qing Li, Yuehua Tang, and Vincent Yao SSRN

Presentations: 2021 AFA, Second Sustainable Finance Forum, RiskLab/BoF/ESRB Conference on Systemic Risk Analytics, China International Risk Forum, 2020 NFA, Shanghai-Edinburgh Green Finance Conference, FMA, 2019 Fed Atlanta, UT - Dallas

Corporate Venture Capital and the Boundaries of the Firm, Journal of Business Venturing, Volume 40, Issue 4, July 2025, 106500

SSRN

Corporate Use of Social Media After ESG Incidents, Production and Operations Management, Volume 34, Issue 9, September 2025, pp. 2560–2578

with Jingchuan Pu and Tao Yuan SSRN

Working Papers

The Consumption Response to Protectionism (2024) - New!

with Chen Lin and Da Tian SSRN

Presentation: 2025 EFA, CICF, Paris December Meeting, NFA, MFA, 2024 PKU CCER - Tsinghua NCER Symposium, Xiangjiang Forum, Seminars at Shanghai Jiaotong University (Antai), CUHK-Shenzhen, Renmin University, SISU

How Does ESG Shape Consumption? (2022) - R&R, The Review of Financial Studies

with Joel F. Houston, Chen Lin and Mo Shen SSRN

Presentation: 2023 SFS Cavalcade, WFA, AFBC, NZFM, Seminars at Georgia State University, Fordham, CEIBS, SUFE, SAIF, RUC

Media Coverage: Chicago Booth Review

Award: Runner-up to Best Paper at the 2023 New Zealand Finance Meeting

Customer Capital and Deposit Stability (2021) - R&R, The Accounting Review

with Peter Demerjian, Joel Houston and Yu Shan SSRN

Presentations: 2021 Fixed Income and Financial Institutions Conference (FIFI), CICF, Dayton Summer Finance Workshop, Financial Markets and Corporate Governance Conference

Up or Out: Markup, Growth and Startup Valuation (2022)

with John Lynch, Shen Zhang and Tieying Yu Draft coming soon

Shades of Gray: Director Classifications Revisited (2017) (Inactive)

with Joel Houston and Jongsub Lee SSRN

Presentations: 2017 New York University Stern School of Business (seminar), Global Ph.D. Colloquium (Fordham), FIRS Conference in Hong Kong, China International Finance Conference (CICF), Drexel University Corporate Governance Conference - Early Idea Session, Midwest Finance Association Annual Meeting, 2016 CAFM

Award: 2016 Best Paper Award, Winner, the 11th CAFM

Media: Featured in the Columbia Law Schools Blog on Corporate and the Capital Markets

Education

Ph.D., University of Florida (2019)

Committee: Joel Houston (Co-Chair), Jay Ritter (Co-Chair), Yuehua Tang, and Tse-Chun Lin (External Member)

B.A., University of Michigan - Ann Arbor (2014)