Yao Shen
Assistant Professor of Finance
Department of Economics and Finance
Zicklin School of Business
Baruch College, CUNY
Email: yao.shen@baruch.cuny.edu
Education
Ph.D. in Finance, Boston College
MSc. in Finance, University of British Columbia
B.A. in Finance, Renmin University of China
Areas of interest
Empirical corporate finance, corporate governance, innovation, credit markets
Published & accepted papers
The role of proxy advisory firms: Evidence from a regression-discontinuity design (with Nadya Malenko) Review of Financial Studies, 29 (12), 3394-3427, December 2016.
Media: Harvard Law School Forum
Do FinTech mortgage lenders fill in the credit gap? Evidence from natural disasters (with Linda Allen and Yu Shan) Journal of Financial and Quantitative Analysis, 58(8), December 2023.
Quadrophobia: Strategic rounding of EPS data (with Joseph A. Grundfest and Nadya Malenko) Journal of Financial and Quantitative Analysis, 58(8), December 2023.
Media: Wall Street Journal (Oct 2021); Wall Street Journal (Mar 2023)
Innovation beyond firm boundaries: Strategic alliances and corporate innovation (with Thomas Chemmanur and Jing Xie). Journal of Corporate Finance, 80(102418), June 2023.
Working papers
The effect of compensation peer benchmarking: Evidence from share repurchases (with Yuyuan Chang, Eliezer Fich, David Reeb, and Jing Xie)
Asian Finance Association (AsianFA) 2022 Best Paper Award
MFA 2023, FMA 2022
Proxy voting on CEO pay: Evidence from Rejection of the Inevitable Disclosure Doctrine (with Xiaohui Li and Jing Xie)
FMA 2023, Eastern FA 2023 (accepted)
Trends, determinants, and effects of ESG-linked pay around the world (with Sonali Hazarika, Aditya Kashikar, Lin Peng, and Ailsa Röell)
Baruch's 2nd Annual Cross-College Faculty Research Symposium Research Award
AFA 2024, CELS 2023, CICF 2023, AEA 2023, FMA 2022, PFMC 2022, 5th Conference on CSR, the Economy and Financial Markets
Unlocking Strategic Alliances: The Role of Common Institutional Blockholders in Promoting Collaboration and Trust (with Jing Xie and Thomas Chemmanur)
Journal of Financial Stability, Revise & Resubmit
Passive investors and corporate innovation (with Yang Liu, Jun(Jonathan) Wang, and Qijian Wang)
Analyst recommendations and mutual fund voting: Evidence from shareholder-sponsored corporate governance proposals (with Jing Xie)
How do credit rating agencies respond to the onset of credit default swaps trading? Evidence from Moody's ratings
FMA 2018