Research

I was trained as an applied empiricist and my current work spans several areas in economics, finance, and accounting. I am particularly interested in topics related to technological innovation, the impact of taxation, development, and labor and accounting.

Publications

· Credit Constraints and the Demand for Higher Education: Evidence from Financial Deregulation Review of Economics and Statistics, 98:1 (2016), with Constantine Yannelis

· Quantifying the Premium Externality of the Uninsured Journal of the European Economic Association, 14:2 (2016), with Constantine Yannelis

· Technological Links and Predictable Returns Journal of Financial Economics, 132:3 (2019), with Charles M.C. Lee, Rongfei Wang, and Ran Zhang

· Trade and Management Review of Economics and Statistics, 103:3 (2021), with Nicholas Bloom, Kalina Manova, John Van Reenen and Zhihong Yu

· Corporate Income Tax, Capital Deepening and Labor Share: Regression Discontinuity Evidence from China Journal of Development Economics, 150, 102624 (2021), with Bing Li and Chang Liu

· Production Complementarity and Momentum Spillover Across Industries, Journal of Financial Economics, 155, 103812 (2024), with Charles M.C. Lee, Tianshuo Shi and Ran Zhang

· Unintended workplace safety consequences of minimum wages, with Qing Liu, Ruosi Lu, and Meng Zhang, Journal of Public Economics, 239, 105247 (2024).

· Tickets to the Global Market: First U.S. Patents and Chinese Firm Exports, with Robin Kaiji Gong, Yao Amber Li, and Kalina Manova, Journal of International Economics, Volume 157,104124 (2025).

· Accounting Standards and Antidumping Investigations, with Shang-Jin Wei, and Jin Xie, Journal of Accounting and Economics, 101810 (2025).

· Equity Financing and Exports: Evidence from IPO Approvals in China (with Robin Kaiji Gong, Amber Li, and Shangjin Wei) Conditionally Accepted at Journal of International Economics

· Capital Markets Regulation and Human Capital Investments: Evidence from SOX and Accounting Major Choice, with Yinghua Li, Haotian Shi, and Xiao Xiao, forthcoming at the Review of Accounting Studies

Research Grants:

Principal Investigator, “Auditor Labor Market Mobility Constraints and Audit Outcomes: Evidence from Enforceability of Non-Compete Covenants,” RGC/GRF, CityU 11613721, 2021-2023, HK$259,993.

Principal Investigator, “Product Market Implications of Corporate Accounting Fraud: Evidence from Scanner Data,” RGC/GRF, CityU 11507023, 2023-2026, HK$ 536,648.00.

Working Papers:

· Does the Rise of Robots Lead to More Dominant Human Leaders? Evidence from Earnings Conference Calls, with Guoli Chen, Xina Li, Zheng Wang and Bingyi Qin

Revise and Resubmit at the Academy of Management Journal

· Tax Pass-through of Partnership Firms, with Yupeng Lin and Michael Shen

Reject and Resubmit at Review of Accounting Studies

· Input Capability, Core Competence, and M&As, with Qing Liu, Larry Qiu, and Chaoqun Zhan

Revise and Resubmit at Journal of International Economics

· Demand Complementarity and Mergers and Acquisitions, with Xiao Jia and Nuo Shi

· Not All Corporate Tax Cuts Are Created Equal: Evidence from Bonus Depreciation and M&A, with Qianqian Huang and Tao Yuan

· Robot Penetration and State-dependent Cost Elasticity, with Yinghua Li and Nuo Shi

· Corporate Taxes and Retail Prices, with Scott Baker and Constantine Yannelis