Education Background
2003-2007 Ph.D. in Finance
McCombs School of Business, University of Texas at Austin
2001-2003 M.S. in Statistics
College of Natural Sciences, University of Texas at Austin
1993-1997 B.Econ. in Finance
Department of Finance, Zhongnan University of Finance and Economics (China)
Biography
Appointments
2023- Fung King Hey Memorial Chair Professor of Finance
CUHK Business School
Chinese University of Hong Kong
2022-2023 Associate Vice President
2020-2023 Presidential Chair Professor
Associate Director, Shenzhen Finance Institute
2019-2023 Professor of Finance
School of Management and Economics
Shenzhen Finance Institute
Chinese University of Hong Kong, Shenzhen
2014-2019 Visiting Scholar
Federal Reserve Bank, Atlanta
2014-2015 Visiting Associate Professor of Finance
Hong Kong University of Science and Technology (HKUST)
2014 Visiting Associate Professor of Finance
University of Hong Kong
2018-2019 McFadden Professor of Personal Financial Management
2013-2019 Associate Professor of Finance (with tenure)
2007-2013 Assistant Professor of Finance
Terry College of Business, University of Georgia
Honors
Mingkang Research Excellence Award, Chinese University of Hong Kong, Shenzhen, 2023
Emerald Best Paper Award, China Finance Review International Conference (CFRIC), 2019
McFadden Professorship of Personal Financial Management, University of Georgia, 2018
Semifinalist for the Best Paper in Corporate Finance, FMA International, 2017
The Talk of the Town Award, Finance Down Under Conference, 2014
Semifinalist for the Best Paper in Corporate Finance, FMA International, 2014
Hugh O. Nourse Outstanding MBA Teacher Award, University of Georgia, 2013
Terry Sanford Research Award, Terry College of Business, University of Georgia, 2013
3rd TCFA Best Paper Award, 2012
Outstanding Undergraduate Teacher in Finance, Alpha Kappa Psi, 2012
Terry Sanford Research Award, Terry College of Business, University of Georgia, 2012
Outstanding Teaching Award, University of Georgia, 2012
Terry Sanford Research Award, Terry College of Business, University of Georgia, 2010, 2011
Outstanding Teaching Award, University of Georgia, 2009
Houston Endowment President's Excellence Scholarship, University of Texas at Austin, 2006
Dean’s Fellowship, McCombs School of Business, University of Texas at Austin, 2004, 2005
Bonham Fund Fellowship, McCombs School of Business, University of Texas at Austin, 2005.
University Pre-emptive Fellowship, University of Texas at Austin, 2003.
News Mentions
CNN
US News & World Report
Financial Post
Pittsburgh Post Gazette
Barron’s
CGTV
Phoenix TV
The Role of External Regulators in Mergers and Acquisitions: Evidence from SEC Comment Letters, with Tingting Liu, Erin Towery, and Jasmine Wang
Review of Accounting Studies, Forthcoming.
Factors and Anomalies in the Vietnamese Stock Market, with Xiangqian (Sharon) Huang and Clark Liu
Pacific-Basin Finance Journal (Special Issue), Forthcoming.
Life is Too Short? Bereaved Managers and Investment Decisions, with Clark Liu, Johan Sulaeman, and P. Eric Yeung
Review of Finance 2023, 27, 1373-1421.
Is the Chinese Anti-Corruption Campaign Authentic? Evidence from Corporate Investigations, with John Griffin and Clark Liu
Management Science 2022, 68, 7248-7273.
Unique Bidder-Target Relatedness and Synergies Creation in Mergers and Acquisitions, with Tingting Liu, Zhongjin (Gene) Lu, and Fengrong Wei
Journal of Corporate Finance 2022, 73, 1-20.
Patent Quality, Firm Value, and Investor Underreaction: Evidence from Patent Examiner Busyness, with Xuan Tian and Xintong Zhan
Journal of Financial Economics 2022, 143, 1043-1069.
Expectation Management in Mergers and Acquisitions, with Jie (Jack) He, Tingting Liu, and Jeffry Netter
Management Science 2020, 66, 1205-1226.
The Convergence and Divergence of Investors’ Opinions around Earnings News: Evidence from a Social Network, with Robert Giannini and Paul Irvine
Journal of Financial Markets 2019, 42, 94-120.
Nonlocal Disadvantage: A Direct Examination of Social Media Sentiment, with Robert Giannini and Paul Irvine
Review of Asset Pricing Studies 2018, 8, 293-336.
Price Impact or Trading Volume: Why is the Amihud (2002) Measure Priced? with Xiaoxia Lou
Review of Financial Studies 2017, 30, 4481-4520.
Summary and Discussions of the paper
Can Managers Use Discretionary Accruals to Ease Financial Constraints? Evidence from Discretionary Accruals Prior to Investment, with James Linck and Jeffry Netter
Accounting Review 2013, 88, 2117-2143.
Institutional Investor Participation and Stock Market Anomalies
Journal of Business Finance and Accounting 2013, 40, 695-718.
Local Religious Beliefs and Mutual Fund Risk-Taking Behaviors, with Johan Sulaeman and P. Eric Yeung
Management Science 2012, 58, 1779-1796. Lead Article.
Examining the Dark Side of Financial Markets: Do Institutions Trade on Information from Investment Bank Connections? with John Griffin and Selim Topaloglu
Review of Financial Studies 2012, 25, 2155-2188.
Who Drove and Burst the Tech Bubble? with John Griffin, Jeffery Harris, and Selim Topaloglu
Journal of Finance 2011, 66, 1251-1290.
Default Risk, Shareholder Advantage, and Stock Returns, with Lorenzo Garlappi, and Hong Yan.
Review of Financial Studies 2008, 21, 2743-2778.
Working Papers
The Employee Clientele of Corporate Leverage: Evidence from Family Labor Income Diversification, with Jie (Jack) He, Xiao (Shaun) Ren, and Huan Yang
Workplace Inequality in Pay Growth: Evidence from US Individual-level Data, with Jie (Jack) He and Lei Li
The Disappearing IPO Puzzle: New Insights from Proprietary U.S. Census Data on Private Firms, with Thomas Chemmanur, Jie (Jack) He, and Xiao (Shaun) Ren
Risks in Mergers and Acquisitions, Evidence from Acquirer’s Risk-Factor Disclosure, with Feng Guo, Tingting Liu, and Xinyan Yan
Winner’s Curse in Takeovers? Evidence from Investment Bank Valuation Disagreement, with Tingting Liu and Jasmine Wang
Similarity Breeds Trust: Political Homophily and CEO-Board Communication, with Sudipto Dasgupta, Ran Guo, and Xiao (Shaun) Ren
Alternative Data, Shareholder Monitoring, and Dividend Policy, with Clark Liu, Yancheng Qiu, and Shujing Wang
Market-Based Innovation Policy: Evidence from High-Tech Incubators in China, with Yue Pan, Vincent Yao, and Pengdong Zhang
A Game of Disclosing “Other Events”: A Message to Retail Investors, with Sean Cao and Zhonglin (Danny) Qin
The Price of Health: Paid Sick Leave Mandates and Corporate Innovation, with Xiangqian (Sharon) Huang
Growing Pains or Confidence? CEO Relative Age, Stress, and Firm Performance, with Sean Cao, Jasmine Wang, and Qinxi Wu
Aggregate Attention, with Paul Irvine and Siyi Shen
