Research Interests

Empirical Corporate Finance, Finance and Labor, Corporate Governance, Corporate Bond

Education

Monash University, Australia

• Ph.D. in Finance, 2020-2024

  • Supervisors: Prof. Abe de Jong, Dr. Zhe An, A/Prof. Ying Xia

• Bachelor of Commerce (Honours), 2019

• Bachelor of Banking and Finance, 2016-2018

Academic Position

Monash University, Australia

• • Assistant Lecturer, 2024

  • Teaching Associate, 2022-2023

Publication 

(Presenter:*; Co-author presentation:#)

• Inflexibility and Corporate Bond Yield Spreads with Zhe An, Abe de Jong, and Ying Xia

Accepted by The Review of Corporate Finance Studies (ABDC: A*).

Presentations: AFBC Conference (Sydney, 2023*); FMA Annual Meeting (Chicago, 2023*); Asian Finance Association Annual Conference (Ho Chi Minh City, 2023*); AFAANZ Annual Conference (Brisbane, 2023#); FMCG Conference (Melbourne, 2023*); FMA Asia-Pacific (Melbourne, 2022*); 36th Australian Ph.D. Conference in Economics and Business (Perth, 2022*). 

We show that firms with higher scale inflexibility have higher bond yield spreads due to increased cash flow volatility and financial distress risk. 

Working Papers 

(Presenter:*; Co-author presentation:#)

• Unintended Consequences of CEO-Employee Pay Ratio Disclosure Mandate: Evidence from Shareholder Proposals (Job market paper) 

Presentations: FMA Asia-Pacific (Seoul, 2024*), International Conference on Business and Finance (Virtual, 2024*); FIRN PhD Symposium (Port Douglas, 2024*); ABR-Deakin Accounting Conference (Melbourne, 2024*); SBFC Conference (Sydney, 2024*); AFBC Conference (Sydney, 2024*).

I explore the staggered pay ratio reporting and find that shareholders submit fewer governance proposals but pass more. These passed proposals are more likely to be implemented, though they result in short-term underperformance.

• When Law Hides Pay: The Unintended Consequences of the Primary Beneficiary Test for Internships with Zhe An

We find that firms are less likely to disclose internship pay information but increase the specificity of education and specialized skill requirements in response to the implementation of the primary beneficiary test. 

• Short Selling Threat and Corporate Risk-Taking: International Evidence with Zhe An, and Ying Xia

Presentations: ICUR (Virtual, 2020*); Student Research Day of Deakin University (Melbourne, 2019*).

We show robust evidence that firms exposed to higher short-selling threats take on riskier but value-enhancing investments.

Academic Services

• Referee Service: Review of Finance, Accounting and Finance, Journal of Accounting and Public Policy, Australian Journal of Management.

Teaching Experiences

Monash University, Australia

Lecturer 

• Advanced Corporate Finance (Undergraduate), 2024

  •  Average Student’s Evaluation: 88/100

Teaching Assistant 

• Financial Management Theory (Postgraduate), 2022-2024

  • Average Student’s Evaluation: 95/100

  • Awards: Purple Letter for Top-Performing Units in Student Evaluation of Teaching and Units (2022, 2023, 2024)  

• Investments and Portfolio Management (Undergraduate), 2024

  •  Average Student’s Evaluation: 100/100

• Corporate Finance (Undergraduate), 2022-2023

  • Average Student’s Evaluation: 84/100

• Finance and Society (Undergraduate), 2022