Associate Professor
School of Accounting and Finance
The Hong Kong Polytechnic University
E-mail: afzcheng@polyu.edu.hk
Publications
Cheng, Z., & Fang, J. (2025). Financial distress and return: A finite mixture approach. Journal of Corporate Finance, 102779-.
Cheng, Z. J., Min, Y., Tian, F., & Xu, S. X. (2024). The role of CRM implementation in internal capital markets. The Journal of Business & Industrial Marketing, 39(2), 407–422.
Cheng, Z. (June), Fang, J., & Zhang, Y. (2023). Idiosyncratic volatility and return: A finite mixture approach. The British Accounting Review, 101261–.
Cheng, Z., Fang, J., & Myers, L. A. (2023). The Differential Timeliness of Stock Price in Incorporating Bad versus Good News and the Earnings-Return Asymmetry. The Accounting Review, 98(6), 97–124.
Cheng, R. C.-N., Men, X., Hsieh, J. J. P.-A., Cheng, Z. J., Cui, X., Wang, T., & Hsu, S.-H. (2023). The effects of IT chargeback on strategic alignment and performance: the contingent roles of business executives’ IT competence and CIOs’ business competence. Internet Research, 33(1), 57–83.
Cheng, Z., & Fang, J. (2023). Stock Liquidity and the Accrual Anomaly. China Accounting and Finance Review, 25(1), 75–100.
Cheng, Z., & Fang, J. (2022). The dual effect of idiosyncratic volatility on stock pricing and return. China Accounting and Finance Review, 24(2), 226–259.
Gong, F., Cheng, Z., & Nault, B. R. (2021). The different effects of hardware and software on production interdependence in manufacturing. Decision Support Systems, 145, 113521.
Cheng, Z., Rai, A., Tian, F., & Xu, X. (2021). Social Learning in Information Technology Investment: The Role of Board Interlock. Management Science, 67 (1), 547–576.
Zhang, D., Cheng, Z., Mohammad, H.Q., and B.R. Nault. (2015). Information Technology Substitution Revisited. Information Systems Research, 26 (3), 480-495.
Ye, Q., Cheng, Z., & Fang, B. (2013). Learning from Other Buyers: The Effect of Historical Sales Records in Online Marketplaces. Decision Support Systems, 56, 502-512.
Cheng, Z. & Nault, B. R. (2012). Relative Industry Concentration and Customer-Driven IT Spillovers. Information Systems Research, 23 (2), 340-355.
Cheng, Z. & Nault, B. R. (2007). Industry Level Supplier-Driven IT Spillovers. Management Science, 53 (8), 1199-1216.
Cheng, Z. & Nault, B. R. (2007). Internet Channel Entry: Retail Coverage and Entry Cost Advantage. Information Technology and Management, 8 (2), 111-132.
Selected working papers:
"Workforce AI Adoption and Workplace Safety: The Role of Internal Complementarities and External Monitoring," with Arun Rai (GSU), Yi Xiang (HK PolyU), and Kevin Zhu (UCSD).
"When Leadership Networks Help or Hurt: Governance as a Contingency in Cybersecurity," with Jing Fang (U of Central Arkansas), Arun Rai (GSU), and Xin Sean Xu (Tsinghua).
"Losing Local News, Losing Customers: The Impact of Local Newspaper Closures on Supplier–Customer Relationships," with Jiang Li (USTC), and Jun Xu (HK PolyU).
"Evidence on the Two Views of the Role of Trading Friction in Stock Pricing," with Jing Fang (U of Central Arkansas), and Yinglei Zhang (CUHK).
"Predicting Future Earnings Changes Through Supply Chains: A Machine Learning Approach," with Xiangao Chen (CUHK), Zili Shao (CUHK), Guofan Xie (U of Arizona).
"Profitability, Attention, and Return," with Cheng, Agnes (University of Oklahoma), Fang, Jing (U of Central Arkansas), and Wong, M.H. Franco (UC Irvine).
"What drives the Asset Growth-return Relation: Mispricing or Risk?" with Cohen, Daniel A. (Vanderbilt) and Fang, Jing (U of Central Arkansas).