Research

Selected Publications

• Martin, X., Seo, H., Yang, J., Kim, D., and Martel, J. (2023). Earnings Performance Targets in Annual Incentive Plans and Management Earnings Guidance. The Accounting Review 98(4), 1–31.

• Liao, L., Martin, X., Wang, N., Wang, Z., and Yang, J. (2023). What if Borrowers were Informed about Credit Reporting? Two Natural Field Experiments. The Accounting Review 98(3), 397–425.

• Cai, Y., Xu, J., and Yang, J. (2021). Paying by Donating: Corporate Donations Affiliated with Independent Directors. Review of Financial Studies. 34(2). 618-660.

• Liao, L., Wang, Z., Xiang, J., Yan, H., Yang, J. (2021). User Interface and First-hand Experience in Retail Investing. Review of Financial Studies. 34, 4486–4523. 

• Stefanescu, I., Wang, Y., Xie, K., and Yang, J. (2018). Pay Me Now (and Later): Pension Benefit Manipulation before Plan Freezes and Executive Retirement. Journal of Financial Economics 127, 152-173.

• Beneish, M. D., Marshall, C., and Yang, J. (2017). Explaining CEO Retention in Misreporting Firms. Journal of Financial Economics 123, 512–535.

• Xu, J., and Yang, J. (2016). Golden Hellos: Signing Bonuses for New Top Executives. Journal of Financial Economics 122, 175-195.

• Faulkender, M., and Yang, J. (2013). Is Disclosure an Effective Cleansing Mechanism? The Dynamics of Compensation Peer Benchmarking. Review of Financial Studies 26, 806-839.

• Baranchuk, N., MacDonald, G., and Yang, J. (2011). The Economics of Super Managers. Review of Financial Studies 24, 3321-3368.

• Yang, J. (2010). Timing of Effort and Reward: Three-sided Moral Hazard in a Continuous-Time Model. Management Science 56, 1568-1583.

• Faulkender, M., and Yang, J. (2010). Inside the Black Box: The Role and Composition of Compensation Peer Groups. Journal of Financial Economics 96, 257-270.

• Baranchuk, N., Dybvig, P., and Yang, J. (2010). Renegotiation-Proof Contracting, Disclosure, and Incentives for Efficient Investment. Journal of Economic Theory 145, 1805-1836.

Working Papers

• "Angry Borrowers: Ex-Post Effects of Social Shaming on Debt Repayment," with Li Liao, Zhengwei Wang, Hongjun Yan, and Congyi Zhou. 

• The Effect of Secondary Market Closure on Primary Market Funding Time: Evidence from Peer-to-Peer Lending," with Craig Holden, Minfeng Li, Kai Lu, Jan Schneemeier, Zaiyan Wei, and Zaiyan Wei.

• "Trust in Crowdfunding: Experimental Evidence from a Fundraising Campaign," with Ha Diep-Nguyen and Michael Price. 

• "Exodus: The Economics of Independent Director Exit and Dissent," with Daniel M. Beneish, Kai Lu, and Zhengwei Wang. 

• "Attention to Detail and Entrepreneurial Success," with Jinglin Jiang, Li Liao, Regan Stevenson, and Zhengwei Wang. 

• "Regulatory Circumvention: Underpricing and Flipping in Marketplace Lending," with Shyam Venkatesan, Brian Wolfe, and Woongsun Yoo. 

• "Compensation Contagion via Peer Benchmarking," with Gonul Colak and Pengfei Ye. 

• “Contracting in a Continuous-Time Model with Three-Sided Moral Hazard and Cost Synergies," with Nian Yang and Yu Chen. 

Permanent Working Papers

• Made in CEO factories (with Ye Cai and Merih Sevilir) 

• Beating the Target: Performance Management around the Annual Incentive Target (with Daniel Sungyeon Kim). 

• Inattention, Forced Exercises, and Executive Stock Options (with Ohad Kadan and Hong Liu). 

• The Effect of Social Pressures on CEO Compensation Inattention, Forced Exercises, and Executive Stock Options (with Ohad Kadan and Hong Liu). 

Other Publications (contribution order of authorship)

• Optimal Production and Setup Scheduling: A One-Machine, Two-Product System (J. Yang, H. Yan, and M. Taksar), 2000. Annals of Operations Research on Optimization Techniques and Application 98, 291–311. 

• Optimal Production Planning in Pull Flow Lines with Multiple Products (J. Yang, H. Yan, and S. Sethi), 1999. European Journal of Operational Research 119, 582–604. 

• Production Scheduling of Continuous Flow Lines with Setup Times and Costs (F. Cheng, H. Yan, and J. Yang), 1998. Production and Operations Management 7, 387–401.