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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