Selected Publications

PUBLICATIONS  in FT50 JOURNALS 

1.  “Common Ownership and Stock Price Crash Risk”, Contemporary Accounting Research, 2024, 41(1): 679-711, with Shenglan Chen, Hui Ma and Hao Zhang  SSRN

   • Wiley Top Cited Article in Contemporary Accounting Research (2024)

   • The 1st most cited paper (out of 88 articles) of CAR in 2024 (Scopus)

2. “The Effect of Organization Capital on the Cost of Bank Loans” Journal of Financial and Quantitative Analysis, 2023, 58(6): 2579–2616, with Anna Danielova, Bill Francis and Haimeng Teng SSRN

3.  “Do Activist Hedge Funds Target Female CEOs? The Role of CEO Gender in Hedge Fund Activism” Journal of Financial Economics, 2021, July issue, 141(1): 372-393, with Bill Francis, Iftekhar Hasan and Victor Shen SSRN

   • Featured in Reuters

4. “Innovation and Corporate Tax Planning: The Distinct Effects of Patents and R&D” Contemporary Accounting Research, 2021, Spring issue, 38 (1): 621-653, with Agnes Cheng, Guo Peng and Chia-hsiang Weng SSRN

5. “Does Gender Affect Innovation? Evidence from Female Chief Technology Officers” Research Policy (ABS 4*; IF 9.473), 2021, 50 (9), November issue, with Wassim Dbouk, Iftekhar Hasan, Nada Kobeissi and Li Zheng SSRN

   • Featured in Thematiks, IBKR Quant 

6. “Does Social Capital Mitigate Agency Problems? Evidence from Chief Executive Officer (CEO) Compensation” Journal of Financial Economics, 2019, 133(2): 498-519, with Stan Hoi and Hao Zhang SSRN

   • The 10th most cited paper (out of 135 articles) of JFE in 2019 (Scopus)

7. “Community-Based Social Capital as An Antecedent of Corporate Social Responsibility” Journal of Business Ethics, 2018, 152(3): 647-665, with Stan Hoi and Hao Zhang SSRN

8.  “Does Social Capital Matter in Corporate Decisions? Evidence from Corporate Tax Avoidance” Journal of Accounting Research, 2017, 55 (3): 629-668, with Iftekhar Hasan, Stan Hoi and Hao Zhang SSRN

   • The 1st most cited paper (out of 33 articles) of JAR in 2017 (Scopus)

   • Over 450+ citations based on Google Scholar

9. “Auditor Quality and Debt Covenants” Contemporary Accounting Research, 2017, 34 (1): 154-185, with Ashok Robin and Hao Zhang SSRN

10. “Social Capital and Debt Contracting: Evidence from Bank Loans and Public Bonds” Journal of Financial and Quantitative Analysis, 2017, 52 (3): 1017–1047, With Iftekhar Hasan, Stan Hoi and Hao Zhang SSRN

    • The 3rd most cited paper (out of 91 articles) of JFQA in 2017 (Scopus)

    • Over 570+ citations based on Google Scholar

11. “Gender Differences in Financial Reporting Decision-Making: Evidence from Accounting Conservatism” Contemporary Accounting Research, 2015, 32 (3): 1285–1318, with Bill Francis, Iftekhar Hasan and Jong Chool Park SSRN

    • The 1st most cited paper (out of 66 articles) of CAR in 2015 (Scopus)

    • Over 800+ citations based on Google Scholar

    • 2009 FMA Semifinalist for Best Paper award

    • Interviewed by the National Public Radio and American Accounting Association

12.  “Beauty Is in the Eye of the Beholder: The Effect of Corporate Tax Avoidance on the Cost of Bank Loans” Journal of Financial Economics, 2014, 113(1): 109-130, with Iftekhar Hasan, Stan Hoi and Hao Zhang SSRN

    • The 5th most cited paper (out of 102 articles) of JFE in 2014 (Scopus)

    • Over 740+ citations based on Google Scholar

13.  “Is Corporate Social Responsibility (CSR) Associated with Tax Avoidance? Evidence from Irresponsible CSR Activities” The Accounting Review, 2013, 88 (6): 2025-2059, with Stan Hoi and Hao Zhang SSRN

    • The 2nd most cited paper (out of 75 articles) of TAR in 2013 (Scopus)

    • Over 1,300+ citations based on Google Scholar

OTHER SELECTED PUBLICATIONS

14. “Employee Power and Audit Fees: Worldwide Evidence”, British Accounting Review (ABDC “A*”; ABS3), with Bin Wang, Rong Yang and Zhengyi Zhang SSRN

15. “CFO Social Network and Corporate Taxation”, Journal of Financial Stability (ABDC “A”; ABS3), with Ming Fang, Emma Xu, and Zejiang Zhou SSRN

16. “Do Female CEOs Manage Costs Differently? Evidence from Asymmetric Cost Behavior”, Journal of Accounting, Auditing, and Finance (ABDC “A”; ABS3), with Haimeng Teng SSRN 

17. “Do Better Managers Get Better Loan Contracts?”, ABACUS, (ABDC “A”; ABS3), with Bill Francis, Ning Ren and Xian Sun SSRN

18. “Stock Return Synchronicity, Information Environment, and Audit Fees”, Journal of Business Finance and Accounting (ABDC “A*”; ABS3), with Joseph Micale and Iftekhar Hasan SSRN

19. “Do Creditor Control Rights Impact Corporate Tax Aggressiveness? Evidence from Debt Covenant Violations” Journal of Business Finance and Accounting (ABDC “A*”; ABS3), with Agnes Cheng, Bill Francis, Bernard Li and Victor Shen SSRN

20. “Carbon Taxes and Emission Trading Systems: Which One Is More Effective in Reducing Carbon Emissions?—A Meta-Analysis”, Journal of Cleaner Production (IF=9.8; Q1; SSCI; ABDC “A”), 2024, 476: 143761; with Xiaohui Li, Maqsood Ahmad SSRN

21. “The Impact of Hedge Fund Activism on Audit Pricing”,  British Accounting Review (ABDC “A*”; ABS3), 2024, 56(2): 101264, with Amy Chen, Bill Francis and Victor Shen SSRN

22. “Bank Deregulation and Corporate Social Responsibility”, Journal of Financial Stability (ABDC “A”; ABS3), 2024, 74: 101313, with Frank Hong Liu and Yue Zhou SSRN

23. “Creative Corporate Culture and Tax Avoidance” British Accounting Review (ABDC “A*”; ABS3), 2024, 56(5): 101217, with Tahseen Hasan,  Kose John, and Haimeng Teng SSRN 

24. “Does Public Scrutiny on Corporate Tax Decisions Affect Directors? Effects of Responsible (Irresponsible) Corporate Tax Practices on Director Reputation?” 2024, 54(2): 168-189, Accounting and Business Research (ABDC “A”; ABS3), with Stan Hoi, Yun Ke and Hao Zhang SSRN

25. “Rank-and-File Employee Stock Options and Audit Pricing: Evidence from S&P 1500 Firms”, British Accounting Review (ABDC “A*”; ABS3), 2024, 56(6): 101422, with Xiaoqi Chen, Maoliang Li and Emmanuel Obiri-Yeboah SSRN

26. “Social Capital and Dividend Policies in US Corporations”, Journal of Financial Stability (ABDC “A”; ABS3), 2023, 69: 101186, with Stan Hoi, Yun Ke and Hao Zhang Link

27. “Strategic Reaction and Tax Avoidance: Evidence from the Effect of Large IPOs on Peers” British Accounting Review (ABDC “A*”; ABS3), 2023, 55(3): 101187, with Amy Chen, Bill Francis and Yijiang Zhao SSRN

28. “Does Common Ownership Constrain Managerial Rent Extraction? Evidence from Insider Trading Profitability” Journal of Corporate Finance (ABDC “A*”; ABS4), 2023, June, 80: 102389, with Shenlan Chen, Ma Hui and Hao Zhang SSRN

    • Featured in Columbia University Law School's Blue Sky Blog 

29. “The Impact of Short Selling on Dividend Smoothing” Journal of Financial Stability (ABDC “A”; ABS3), 2023, April, 65: 101117, with Bill Francis and Gilna Samuel Link

30. “Banking Liberalization and Corporate Tax Planning: Evidence from Natural Experiments” Journal of Corporate Finance (ABDC “A*”; ABS4), 2022, 76: 102264, with Shenglan Chen, Ma Hui and Haimeng Teng SSRN

31. “Does Herding Behavior Matter in Investment Management and Perceived Market Efficiency? Evidence From an Emerging Market” Management Decision (Q1, IF 5.589), 2022, 60(8): 2147-2173, with Maqsood Ahmad Link

32. “Corporate Culture and Audit Fees” Journal of Business Finance and Accounting (ABDC “A*”; ABS 3), 2022, 49(5-6):778-806,, with Amy Chen, Bill Francis and Tahseen Hasan SSRN

33. “The Effect of Shareholder-Debtholder Conflicts on Corporate Tax Aggressiveness: Evidence from Dual Holders” Journal of Banking and Finance (ABDC “A*”; ABS 3), 2022, 138, May issue, with Bill Francis, Ying Wang and Haimeng Teng SSRN

34. “Social Network and Earnings Management” British Accounting Review (ABDC “A*”; ABS3), 2022, 54(2), March issue, with Ming Fang, Bill Francis and Iftekhar Hasan Link

    • 2022 Best Paper Award of BAR

    • 2018 Vernon Zimmerman Best Paper Award, 30th Asian-Pacific Conference on International Accounting Issues 

35. “The Effect of Foreign Institutional Ownership on Corporate Tax Avoidance: International Evidence” Journal of International Accounting Auditing and Taxation (ABDC “A”; ABS3), 2022, 46, March issue, with Iftekhar Hasan, Incheol Kim and Haimeng Teng SSRN

    • The 2nd most cited paper (out of 39 articles) of JIAAT in 2022 (Scopus)

36. “Managerial Ability and Tax Aggressiveness” China Accounting and Finance Review (ABDC “A”), 2022, 24(1): 53-75, with Bill Francis, Xian Sun and Chia-hsiang Weng Link

    • The 2023 Emerald Literati Award for the Outstanding Paper

37. “The State Expropriation Risk and the Pricing of Foreign Earnings” Journal of International Accounting Research (ABDC “A”), 2021, 20(2): 51-58, with Iftekhar Hasan, Ibrahim Siraj and Amine Tarazi SSRN

38. “Financial Analysts' Career Concerns and the Cost of Private Debt” Journal of Corporate Finance (ABDC “A*”; ABS4), 2021, 67: April issue, with Bill Francis, Iftekhar Hasan, Liuling Liu and Yijiang Zhao SSRN

39. “Short Selling Threat and Real Activity Manipulation: Evidence from a Natural Experiment” Advances in Accounting (ABDC “A”), 2021, 52: March issue, with Amy Chen SSRN

40. “The Impact of Organization Capital on Firm Innovation” Journal of Financial Stability (ABDC “A”; ABS3), 2021, 53: April issue, with Bill Francis, Suresh Mani and Zenu Sharma SSRN

41. “Is Social Capital Associated with Corporate Innovation? Evidence from Publicly Listed Firms in the U.S” Journal of Corporate Finance (ABDC “A*”; ABS4), 2020, 62: June issue, with Iftekhar Hasan, Stan Hoi and Hao Zhang SSRN

    • Featured in Columbia University Law School's Blue Sky Blog

42. “Bank Credit and Trade Credit: Evidence from Natural Experiments” Journal of Banking and Finance (ABDC “A*”; ABS 3), 2019, 108: November issue, with Shenglan Chen and Ma Hui SSRN

43. “Managerial Ability and Value Relevance of Earnings” China Accounting and Finance Review (ABDC “A”), 2019, 21(4): 147-191, with Bill Francis, Iftekhar Hasan and Ibrahim Siraj SSRN

44. “The Effect of Corporate Culture on Firm Performance: Evidence from China” China Journal of Accounting Research (ABDC “B”), 2018, 11(1): 1-19, with Hailin Zhao and Haimeng Teng Link

    • The 5th most cited paper of JIAR (2018-2024) (Scopus)

45. “Banking Deregulation and Corporate Tax Avoidance” China Journal of Accounting Research (ABDC “B”), 2017, 10 (2): 87-104, with Bill Francis and Ning Ren Link

46. “CEO Political Preference and Corporate Tax Sheltering” Journal of Corporate Finance (ABDC “A*”; ABS4), 2016, 38: 37-53, with Bill Francis, Iftekhar Hasan and Xian Sun SSRN

47. “Analyst Coverage and Corporate Tax Aggressiveness” Journal of Banking and Finance (ABDC “A*”; ABS 3), 2016, 73, 84-98, with Arthur Allen, Bill Francis and Yijiang Zhao SSRN

48. “Professors in the Boardroom and Their Impact on Corporate Governance and Firm Performance” Financial Management (ABDC “A”; ABS3), 2015, 44(3): 547-581, with Bill Francis and Iftekhar Hasan SSRN

    • The 1st most cited paper (out of 285 articles) of FM since 2015 (Scopus)

49. “Firm Growth and the Pricing of Discretionary Accruals” Review of Quantitative Finance and Accounting ( ABS3; ABDC “B”), 2015, 45(3): 561-590, with Ashok Robin SSRN

50. “Are Female CFOs Less Aggressive? Evidence from Tax Aggressiveness” Journal of the American Taxation Association (ABDC “A”; ABS3), 2014, 36 (2): 171-202, with Bill Francis, Iftekhar Hasan and Meng Yan SSRN

    • The 1st most cited paper (out of 17 articles) of JAAF in 2013 (Scopus)

    • Featured in Reuters

51. “The Benefits of Conservative Accounting to Shareholders: Evidence from the Financial Crisis” Accounting Horizons (ABDC “A”; ABS3), 2013, 27 (2): 319-346, with Bill Francis and Iftekhar Hasan SSRN

    • The 4th most cited paper (out of 42 articles) of AH in 2013 (Scopus)

52. “The Impact of CFO Gender on Bank Loan Contracting” Journal of Accounting Auditing and Finance (ABDC “A”; ABS3), 2013, 28 (1): 53-78, with Bill Francis and Iftekhar Hasan SSRN

    • The 1st most cited paper (out of 16 articles) of JAAF in 2013 (Scopus)

    • Featured in CFO Magazine

53. “Do Islamic Banks Employ Less Earnings Management?” Journal of International Financial Management and Accounting (ABDC “B”; ABS2; IF9.4), 2013, 24(3): 203-233, with Majdi Anwar Quttainah and Liang Song  Link

    • The 3rd most cited paper (out of 133 articles) of JIFMA between 2013-2023 (Scopus)

54. “The Impact of Earnings Predictability on Bank Loan Contracting” Journal of Business Finance and Accounting (ABDC “A*”; ABS 3), 2012, 39(7) & (8): 1068-1101, with Iftekhar Hasan and Jong Chool Park SSRN

55. “Corporate Boards and Bank Loan Contracting” Journal of Financial Research (ABDC “A”; ABS3), 2012, 35(4): 521-552, with Bill Francis, Iftekhar Hasan and Michael Koetter SSRN

56. “Do Corporate Boards Matter during the Current Financial Crisis?” Review of Financial Economics (ABDC “B”), 2012, 21(2), 39-52, with Bill Francis and Iftekhar Hasan  SSRN

    • The 2nd most cited paper (out of 22 articles) of RFE in 2012 (Scopus)

57. “Financial Restatement, Cost of Debt and Information Spillover: Evidence from the Secondary Loan Market” Journal of Business Finance and Accounting (ABDC “A*”; ABS 3), 2009, 36(9) & (10): 1117-1147, with Jong Chool Park Link