Research

Peer-Reviewed Journal Articles

"The Price of the Slow Lane: Traffic Congestion and Stock Block Trading Premium", (with Tingqiu Cao and Xianhang Qian), International Review of Finance, 2024, 24, 30-52.
“Regulator Supervisory Power and Bank Loan Contracting,” (with Zhongda He, Guannan Qiao, and Wenrui Zhang), Journal of Banking and Finance, 2021, 106062.
“Monitoring the Monitor: Distracted Institutional Investors and Board Governance,” (with Claire Liu, Angie Low and Ronald Masulis), Review of Financial Studies, 2020, 33, 4489-4531.

Best Paper Award at 2017 FMA annual meeting
Best Paper Award at 2016 International Conference on Asia-Pacific Financial Markets
Media coverage: Harvard Law School Forum on Corporate Governance

“Do Outside Directors with Government Experience Create Value?” (with Jun-Koo Kang), Financial Management, 2018, 47, 209-251. (lead article)

Pearson Prize for the best paper in Financial Management
Invited presentation at the 2018 FMA Meeting as the top paper on Financial Management
Best paper award at 2011 International Conference on Asia-Pacific Financial Markets

“Who Captures the Power of the Pen?” (with Jiaxing You and Bohui Zhang), Review of Financial Studies, 2018, 31, 43-96.

“Friendly Boards and Innovation,” (with Jun-Koo Kang, Wei-Lin Liu, and Angie Low), Journal of Empirical Finance, 2018, 45, 1-25. (lead article)
“CEOs’ Early-life Experiences and Corporate Policy: Evidence from China’s Great Famine,” Pacific Basin Finance Journal, 2017, 46, 57-77.
“Monitoring Role of Customer Firms in Suppliers and its Effect on Supplier Value: Evidence from Block Acquisitions of Suppliers by Customer,” (with Jun-Koo Kang, Wei-Lin Liu, and Sangho Yi), Journal of Financial Intermediation, 2015, 24(4), 537-563.
“Informal Finance and Micro-loans: a Literature Review,” (with Jinyan Hu), Journal of Financial Research (in Chinese), 2004, 7, 123-131.

Working Papers

“Employee Inside Debt and Acquirer Returns,” (with Xin Chang, Jun-Koo Kang, and Wenrui Zhang).