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About Me
My research interests include how technology and law change finance and governance, and further, change business and society. All contacts are welcome!
Current Position
- Research Assistant Professor (Finance), The Hong Kong Polytechnic University
Education
- Ph.D. (Finance) and M.Fin. (FinTech), University of Hong Kong
- B.Mgmt. (Accounting), Sun Yat-Sen University
Working Papers
- Disasters, Social Commitment, and Firm Resilience (with Xu Li, Qingyuan Lyu)
- Working Paper | SSRN | PDF
- Brief: Socially irresponsible customers abandon disrupted suppliers during disasters, leading to a faster recovery and stronger product market performance. Social commitment acts as a supply chain switching cost.
- Conference: International Corporate Governance Conference 2024, 37th Australian Finance and Banking Conference, 24th China Economics Annual Conference
- AI Saliency and Robo-Advisor Adoption (with Jiafu An, Li Liao, Chen Lin, Xincheng Wang)
- Working Paper
- Brief: Being nudged by recent AI development, investors are more likely to adopt robo-advisors and mitigate behavioral biases.
- Conference: 2024 China FinTech Research Conference
- Proprietary Costs and Supply-Chain Collaboration (with Xiong Li, Guoman She, Guochang Zhang)
- Working Paper | PDF
- Brief: Fewer proprietary information leakage concern on supply chain, more supply chain collaboration.
- Directors’ Incentives from Potential Regulatory Penalties: Evidence from their Voting (with Chen Lin, Thomas Schmid, Michael S. Weisbach)
- Working Paper | SSRN | R&R at Management Science
- Brief: Directors monitor firm more diligently after knowing close contact being penalized by the regulator for negligence.
- Media Coverage: The Regulatory Review (UPenn)
- Conference: FMA Annual Meeting 2021, FIFI Conference 2021
For other earlier stage working papers, please refer to my CV
Publications
- ESG Scores, Scandal Probability, and Event Returns (with Wenya Sun, Yichen Luo, S.M. Yiu, Luping Yu)
- Financial Innovation (2024) | PDF
- Brief: High ESG scores can lower the probability of an ESG scandal but can also incur higher losses if one occurs. Based on a theoretical model, the firm has two equilibria of the optimal ESG investment level - not doing at all or doing a lot.
- Competition Laws, Ownership and Corporate Social Responsibility (with Ross Levine, Chen Lin, Wensi Xie)
- Journal of International Business Studies (2022) | SSRN
- Brief: Tighten competition incentive manufacturers to differentiate themselves by improving social responsibility.
- Media Coverage: Harvard Law School Forum, UNPRI
- Conference: 33rd Australian Finance and Banking Conference
-
Corporate Immunity to the COVID-19 Pandemic (with Ross Levine, Chen Lin, Wensi Xie)
- Journal of Financial Economics (2021) | PDF
- Brief: Firms with better financial resilience, less supply chain exposure, higher ESG performance, more long-term orientated investors perform better during COVID-19 market collapse.
- Media Coverage: The Economist, Harvard Law School Forum, Institutional Investor