JEFFERY YUDONG WANG
JEFFERY YUDONG WANG
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Seidner Department of Finance
Seidner Department of Finance
Carroll School of Management, Boston College
Carroll School of Management, Boston College
Email: wangasv@bc.edu
Email: wangasv@bc.edu
Welcome! I am a fifth-year PhD candidate in Finance at the Carroll School of Management, Boston College. I am on the 2025-2026 job market.
My research interests are corporate finance, corporate governance, and political economy. My job market paper examines how political factors shape VC capital allocation and subsequent monitoring and governance.
Working Paper
Working Paper
Revise & Resubmit, Review of Finance
Abstract: I study how political partisanship affects venture capital (VC) investments in entrepreneurial firms. I find that VC partners are more likely to invest in startups managed by co-partisan CEOs, with stronger effects among donor voters and during election years. Co-partisan investments underperform relative to non-co-partisan deals made by the same VC partners, with higher bankruptcy rates, fewer follow-on investments, and lower round-to-exit multiples. In addition, VC partners are less likely to replace co-partisan CEOs, even when the startup company strongly underperforms. Overall, the findings show how political preferences distort VC capital allocation and erode performance.
Abstract: We compile a comprehensive database of senior federal regulators and trace their full career paths since college graduation across the private and public sectors. We find that revolving-door moves across the private and public sectors are ubiquitous, persistent, correlated with economic and election cycles, and typically occur several times over the course of one’s career. Revolving-door regulators exhibit more regulatory (but not deregulatory) activity, stricter enforcement, and higher regulation complexity. Further, they work for stronger firms, come from relatively poorer backgrounds, and accumulate more wealth throughout their careers. Overall, we quantify regulators’ incentives to build financial, bureaucratic, and human capital.
Presentations: 3rd Annual Holden Conference in Finance and Real Estate (Indiana Kelley), 34th Annual Conference on Financial Economics and Accounting (CFEA), 9th Annual Young Scholars Finance Consortium (Texas A&M), 2023 Financial Research Association (FRA)’s Early Ideas Session, 2024 Annual Meeting of the Northern Finance Association (NFA), 2024 CUHK-RAPS-RCFS Conference on Asset Pricing and Corporate Finance, 2025 Annual Meeting of the Eastern Finance Association (EFA), 2025 Bretton Woods Accounting and Finance Ski Conference, 2025 Finance Down Under Conference, Babson College, Bentley University, Boston College, Copenhagen Business School, Norwegian School of Economics, University of Utah
Award: WRDS Best Paper Award in Corporate Finance at the Eastern Finance Association, 2025
Work in Progress
Work in Progress
Taking Work Home: CEOs' Family Incentives in Corporate Relocations
(with Ran Duchin and Denis Sosyura)
Project description: We built a novel hand-collected database of firm headquarters relocations since 2000, matched with detailed CEO and family information, to examine the role of CEOs’ personal incentives in relocation decisions.
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