對外經(jīng)濟(jì)貿(mào)易大學(xué)

Research Interest : Capital Market, Corporate Governance, IPO, Venture Capital and Private Equity, Fintech, One Belt and One Road Investment and Financing

教育背景 Education Background

2004.8-2008.8香港城市大學(xué)商學(xué)院金融學(xué)博士 (導(dǎo)師：張仁良教授)

Ph.D. in Finance, City University of Hong Kong, Hong Kong

2001.9-2003.7北京大學(xué)光華管理學(xué)院金融學(xué)碩士(導(dǎo)師：曹鳳岐教授)

M.A. in Finance, summa cum laude, Guanghua School of Management, Peking University, China

1996.9-2000.7北京大學(xué)光華管理學(xué)院企業(yè)管理本科

B.B.A. in Management, Guanghua School of Management, Peking University, China

工作經(jīng)歷Working Experience

2019.1至今對外經(jīng)濟(jì)貿(mào)易大學(xué)國際經(jīng)濟(jì)貿(mào)易學(xué)院金融系教授，博導(dǎo)

Professor, University of International Business and Economics, China

2011.1-2018.12對外經(jīng)濟(jì)貿(mào)易大學(xué)國際經(jīng)濟(jì)貿(mào)易學(xué)院金融系副教授

Associate Professor, University of International Business and Economics, China

2009.1-2010.12對外經(jīng)濟(jì)貿(mào)易大學(xué)國際經(jīng)濟(jì)貿(mào)易學(xué)院金融系講師

Assistant Professor, University of International Business and Economics, China

2007.8-2008.8香港城市大學(xué)Instructor I

Instructor I, Department of Economics and Finance, City University of Hong Kong

短期訪問 Short Term Visiting

2012.7-2012.8香港浸會大學(xué)商學(xué)院訪問學(xué)者

Visiting Fellow, Business School, Hong Kong Baptist University

2010.5-2010.6 英國利茲大學(xué)商學(xué)院訪問學(xué)者

Visiting Research Fellow, Business School, Leeds University

發(fā)表 Publication

英文論文 English Publication

1“Government Intervention and Firm Investment”, 2019, with Lu Deng, Sifei Li and Mingqing Liao, Journal of Corporate Finance, Forthcoming

2“Fund Flows and Performance: Understanding Distribution Channel”,2019, with Jiong Gong and Grace Tian, Applied Economics, forthcoming

3“Compensation Convexity Without Utility Restriction”,2018, with Jiong Gong and Xiaochuan Xing, Australian Economic Papers, v.57(3), pp.238-249

4“The dynamics of network communities and venture capital performance: Evidence from China”, 2018, with Chaokai Xue and Xinghua Dang, Finance Research Letters, forthcoming

5 “Political Pressure or Rent Seeking? The Role of Mutual Funds In China’s Split Share Structure Reform”, 2018, with Xinjian Shao and Yi Xue, Australian Economic Papers, v.57(3), pp.284-308

6“Does the Market care about Investor Protection Practices in China?”, 2018, with Yan Leung Cheung, Yin Dang, Tong Lu and Weiqiang Tan, Applied Economics, v.50(5), pp.492-509

7“Taxation on E-Commerce: Evidence from China’s Retail Sector”, 2017, with Jiong Gong, Yu Jin and Xiangyang Zhang, Journal of Business and Economics, v.8(9), pp. 733-744

8“Contractual Mutual Fund Governance: the Case of China”, 2016, with Jiong Gong and Shu Tian, Review of Quantitative Finance and Accounting, v.46, pp.543–567

9“The Role of Venture Capitalists in Emerging Market: A Study on Chinese IPOs”, 2014, with Charlie Cai, Kevin Keasey, Mike Wright and Qi Zhang, International Small Business Journal, v.32(6), pp. 619-643

10“Privatization and risk sharing: Evidence from the Split Share Structure Reform in China,” with Kai Li, Tan Wang and Yan-Leung Cheung,2011,Review of Financial Studies, v.24(7), pp.2499-2525, Winner of the 2008 TCFA Best Paper Award in Investment

11“Does Corporate Governance Predict Future Performance? Evidence from Hong Kong”, with Yan-Leung Cheung, J. Thomas Connelly and Piman Limpaphayom, 2011，F(xiàn)inancial Management, Spring, pp. 159-197

12“A Transparency Disclosure Index Measuring Disclosures: Chinese listed Companies” , with Yan-Leung Cheung and Weiqiang Tan, 2010, Journal of Accounting and Public Policy , V.29(3), pp. 259–280

13“Corporate Governance in China: a Step Forward,” with Yan-Leung Cheung, Piman Limpaphayom and Tong Lu, 2010, European Financial Management , v.16 (1), pp. 94–123

14“Does Corporate Governance Matter in China?” with Yan-Leung Cheung, Piman Limpaphayom, and Tong Lu, 2008, China Economic Review, v. 19, iss. 3, pp. 460-79

中文論文 (Chinese Publication)

1“重倉家族重倉股對基金業(yè)績、凈值暴跌風(fēng)險(xiǎn)的影響———基于股票型基金的研究”，經(jīng)濟(jì)評論(CSSCI)，與侯偉相、于瑾合作，2018年第1期

2“金融科技有助于提高實(shí)體經(jīng)濟(jì)的投資效率嗎?”，首都經(jīng)濟(jì)貿(mào)易大學(xué)學(xué)報(bào)，與劉園、鄭忱陽、劉超合作，2018年第6期

3“公司超額銀行借款會導(dǎo)致過度投資嗎?”，金融研究(CSSCI)，與鄧路、劉瑞琪合作，2017年第10期

4“中國QDII基金經(jīng)理海外聯(lián)系與投資偏好研究”，世界經(jīng)濟(jì)(CSSCI)，與田澍合作，2016年第5期

5“媒體公關(guān)、投資者情緒與證券發(fā)行定價(jià)”, 金融研究(CSSCI), 與邵新建、何明燕、薛熠、廖靜池合作， 2015年第9期

6“借殼上市、內(nèi)幕交易與股價(jià)異動——基于ST類公司的研究”, 金融研究(CSSCI)，與邵新建、賈中正、趙映雪、薛熠合作，2014年第5期

7“投資者情緒、承銷商定價(jià)與IPO新股回報(bào)率”，金融研究(CSSCI)，與邵新建、薛熠、趙映雪、鄭文才合作，2013年第4期

8“中國城市房價(jià)的堅(jiān)硬泡沫-基于壟斷性土地市場的研究”，金融研究(CSSCI)，與卲新建、巫和懋、薛熠，王勇合作，2012年第12期

9“風(fēng)險(xiǎn)投資在我國上市公司IPO 中的角色研究”，中國風(fēng)險(xiǎn)投資，與蔡曉武合作，2012年第3 期

10“股權(quán)集中度和公司績效關(guān)系再研究—來自后股改時(shí)代的新證據(jù)”，金融監(jiān)管研究，與邵新建、劉淑娟合作，2012年第5 期

11“基金管理公司股權(quán)結(jié)構(gòu)與基金績效研究”，金融研究(CSSCI)，與田澍、Cheung Yan-Leung合作，2011年第6期

報(bào)告Report

1博鰲論壇系列報(bào)告《亞洲經(jīng)濟(jì)一體化進(jìn)程報(bào)告》, 2014-2019

Boao Forum for Asia <Progress of Asian Economic Integration> Annual report, 2014-2019

2《中阿經(jīng)貿(mào)發(fā)展進(jìn)程報(bào)告》，中國-阿拉伯國家博覽會秘書處，2011-2014

Progress of China-Arab Trade and Economic Relations Annual Report ，2011-2014

工作論文 Working Paper

1“Family Membership of Board Chair and Corporate Social Responsibility: Evidence from Chinese Family Firms”, with Fuxiu Jiang and Xiaojia Zheng

2“Corporate diversification and CEO compensation: the role of corporate governance”, with Farid Ullah, Yasir Shahab,Haixia Li, R&R applied economics

3“The Role of the Long-term Investor-underwriter Relationship in Auctioned IPOs”, with Xinjian Shao and Yi Xue

4“Pay for Publicity? Media Coverage during IPOs”, with Xinjian Shao and Yi Xue

5“Political Ideology and Corporate Social Responsibility”, with Sifei Li and Lu Deng,

6“Corporate Social Responsibility and Informal Finance——Evidence from Chinese Private Firms”, with Lu Deng, Sifei Li and Mingqing Liao

7“Spatial Distribution of Venture Capital in China”, With Jiong Gong, under review Economic modelling

8“In Search of Search Cost in P2P Lending”, With Jiong Gong and Liang Qiao

9“Corporate social responsibility (CSR) and stock price crash risk: Does governance and ownership matter?”, with Farid Ullah, Yasir Shahab, Chenyang Zheng

10“Foreign experience and stock price informativeness”, with Farid Ullah, Yasir Shahab, Chenyang Zheng

11“Smart and Dumb Money in the Chinese tech IPO markets and the effect of regulatory underpricing,” with Charlie X Cai, Paul Mcguinness, Chenyang Zheng

12“Media coverage and bond covenants”, with Denglu

13“Heterogeneous beliefs and M&A stock returns: Evidence from acquirer firms”, with Lu Deng, Sifei Li, Mingqing Liao

14“M&A goodwill and stock crash risk”, with Chenyang Zheng

15“Venture Capital Network and Firm Innovation”, with Chenyang Zheng

研究課題 Research Grants

2018.6-2019.6中石油通過資本運(yùn)營提升集團(tuán)價(jià)值研究課題項(xiàng)目經(jīng)理

Project Manager of the capital restructuring and group valuation of China Petro, 680,000 RMB

2016.11-2017.7主持廣東珠海橫琴新區(qū)金管局《橫琴自貿(mào)區(qū)私募機(jī)構(gòu)服務(wù)與監(jiān)管機(jī)制創(chuàng)新研究》

Hengqin PE service and governance research, PE, 150,000 RMB

2016.1-2017.12主持對外經(jīng)濟(jì)貿(mào)易大學(xué)杰出青年培養(yǎng)項(xiàng)目《中國券商與基金關(guān)系研究》

Outstanding young scholar program, UIBE,“The relationship between underwriters and mutual funds in China”,200,000RMB

2014.1-2016.12對外經(jīng)濟(jì)貿(mào)易大學(xué)創(chuàng)新團(tuán)隊(duì)《我國機(jī)構(gòu)投資者行為與監(jiān)管研究》帶頭人

Team Leader of Innovative Research Team “Institutional Investor Behavior and Governance In China” of UIBE, 300,000RMB

2014.1-2015.12主持對外經(jīng)濟(jì)貿(mào)易大學(xué)“211”四期課題《附屬型風(fēng)險(xiǎn)投資基金：投資動機(jī)異質(zhì)性與投資行為研究》

“211” Project “Captive Venture Capital: Heterogeneity of Investment Motivation and Behavior”, PI, 100,000RMB

2014.1-2016.12主持國家自然科學(xué)基金青年項(xiàng)目《中國私募股權(quán)基金背景與投資行為周期研究》，

NSFC Project “Background of Private Equity In China And Investment Behavior”, PI, 210,000RMB

2013.1-2015.12入選北京高等學(xué)校青年英才計(jì)劃項(xiàng)目

Beijing Higher Education Young Elite Teacher Project, 150,000RMB

2011.12-2014.12主持對外經(jīng)濟(jì)貿(mào)易大學(xué)優(yōu)秀青年培養(yǎng)項(xiàng)目《兩權(quán)分離度與大小非減持》

Excellent young scholar program, UIBE,“The divergence between cash flow rights and voting rights”,150,000RMB

2012.1-2014.12主持教育部人文社會科學(xué)研究一般項(xiàng)目《我國私募股權(quán)基金投資研究—基于制度背景視角》

Project of Ministry of Education “Private Equity In China—-From the Perspective of Institutional Background”, PI,90,000RMB

2012.1-2013.12主持北京市社科一般項(xiàng)目《北京市加快發(fā)展國際私募股權(quán)投資研究》

Project of Beijing Social Science Commission “How Beijing Should Stimulate Development of International Venture Capital?”,PI, 50,000 RMB

2010.4-2012.4PE與中國創(chuàng)業(yè)發(fā)展(UIBE-Leeds合作課題)，主要參與人

The Development and Impact of PE And Entrepreneurship In China(UIBE-Leeds joint Project)，Main Participant, 300,000RMB

2009.1-2009.12經(jīng)濟(jì)全球化、市場開放與風(fēng)險(xiǎn)共擔(dān)(211三期重點(diǎn)課題)，主持人

“211”Project “Globalization, Market Open Up and Risk Sharing”, PI, 200,000RMB

學(xué)術(shù)與教學(xué)獎(jiǎng)勵(lì)A(yù)wards

2017第三屆中國管理國際學(xué)術(shù)會議優(yōu)秀論文

Best paper award of the 3rd International Management Conference

2017對外經(jīng)濟(jì)貿(mào)易大學(xué)教學(xué)標(biāo)兵

Teaching Star Award at UIBE

2015第一屆孫冶方金融創(chuàng)新獎(jiǎng)

Sunyefang financial innovation award

2013對外經(jīng)濟(jì)貿(mào)易大學(xué)優(yōu)秀班主任

UIBE excellent class advisor

2012對外經(jīng)濟(jì)貿(mào)易大學(xué)王林生獎(jiǎng)教金

Wang Linsheng Scholarship for Excellent Teachers

2012北京市教委高校“青年英才計(jì)劃”首批成員

Youth Excellence Scholars Program by Beijing Municipal Education Commission

2011對外經(jīng)濟(jì)貿(mào)易大學(xué)學(xué)位論文質(zhì)量監(jiān)控獎(jiǎng)

Thesis quality award of postgraduate study, UIBE

2011對外經(jīng)濟(jì)貿(mào)易大學(xué)研究生教學(xué)新秀獎(jiǎng)

Teaching star of postgraduate students, UIBE

2011深圳證券交易所《證券市場導(dǎo)報(bào)》首屆學(xué)術(shù)論壇優(yōu)秀論文二等獎(jiǎng)

Best paper award (2nd prize) by <zhengquan shichang daobao >

2011對外經(jīng)濟(jì)貿(mào)易大學(xué)十佳教師

UIBE best 10 Teachers

2010對外經(jīng)濟(jì)貿(mào)易大學(xué)第三屆青年教師教學(xué)基本功比賽二等獎(jiǎng)

UIBE Young Teacher Teaching Competition Second Prize

2009亞太資本市場研究最佳論文獎(jiǎng)

Hong Kong Asian Capital Markets Research Prize

2008美國華人金融學(xué)協(xié)會TCFA最佳論文獎(jiǎng)

TCFA Best Paper Award in Investment

2008亞太資本市場研究最佳論文獎(jiǎng)

Hong Kong Asian Capital Markets Research Prize

2007香港CFA獎(jiǎng)學(xué)金

CFA Society Scholarship, CFA Society of Hong Kong

2007香港城市大學(xué)會議資助

Conference Grant of City University of Hong Kong

2006-2007香港城市大學(xué)研究生杰出學(xué)術(shù)成就獎(jiǎng)

Outstanding Academic Performance Award for Research Degree Students of City University of Hong Kong

2006-2007香港城市大學(xué)研究生學(xué)費(fèi)減免獎(jiǎng)勵(lì)

Research Tuition Scholarship of City University of Hong Kong

2006Conference Grant of City University of Hong Kong

香港城市大學(xué)會議資助

20062007 美國金融年會(AFA) Student Travel Award

AFA學(xué)生參會資助

2005-2006香港城市大學(xué)研究生杰出學(xué)術(shù)成就獎(jiǎng)

Outstanding Academic Performance Award for Research Degree Students of City University of Hong Kong

2004-2007香港城市大學(xué)研究生教學(xué)金

Postgraduate Studentship, City University of Hong Kong

2004-2005香港城市大學(xué)研究生學(xué)費(fèi)減免獎(jiǎng)勵(lì)

Research Tuition Scholarship of City University of Hong Kong

學(xué)術(shù)會議

2019廈門大學(xué)南強(qiáng)學(xué)者論壇,中國廈門

2019 Global and China Accounting and Finance Conference, Shandong University of Finance and Economics, Jinan, Shandong, China

2018中國工業(yè)經(jīng)濟(jì)公司金融高端論壇，中國廣州

UIBE international conference in Finance, Beijing, China

中國人民大學(xué)冬季論壇，中國北京

20172017 China Financial Research Conference

Thought leader conference on marketing strategy with JAMS, Beijing, China

2017 Summer Research Boot Camp on Financial Intermediation and Market Research

Fintech annual conference at PKU, Beijing, China

20162016創(chuàng)業(yè)金融暑期學(xué)術(shù)研討會，中國北京

2015第五屆金融青年學(xué)術(shù)菁英圓桌研討會，中國廈門

China International Conference in Finance, Shenzhen, China

清華大學(xué)受邀學(xué)術(shù)報(bào)告，中國北京

人民大學(xué)受邀學(xué)術(shù)報(bào)告，中國北京

2014第四屆金融青年學(xué)術(shù)菁英圓桌研討會，中國北京

上海財(cái)經(jīng)大學(xué)受邀學(xué)術(shù)報(bào)告，中國上海

河南大學(xué)受邀學(xué)術(shù)報(bào)告，中國開封

廈門大學(xué)第一屆財(cái)務(wù)會計(jì)年會，中國廈門

2014 MIT Asia Conference in Accounting，Chengdu, China

China International Conference in Finance, Chengdu, China

2013中國科學(xué)院虛擬經(jīng)濟(jì)與數(shù)據(jù)科學(xué)研究中心受邀學(xué)術(shù)報(bào)告，中國北京

劉鴻儒金融教育基金會與上海金融與法律研究院聯(lián)合發(fā)起的“鴻儒論道”受邀嘉賓

2012第二屆金融青年學(xué)術(shù)菁英圓桌研討會，中國廣州

浙江大學(xué)受邀學(xué)術(shù)報(bào)告，中國杭州

武漢大學(xué)“新興市場會計(jì)與財(cái)務(wù)研討會”，中國武漢

中央財(cái)經(jīng)大學(xué)受邀學(xué)術(shù)報(bào)告，中國北京

2011第一屆中財(cái)金融青年學(xué)術(shù)菁英圓桌研討會，中國北京

復(fù)旦大學(xué)受邀學(xué)術(shù)報(bào)告，中國上海

廈門大學(xué)受邀學(xué)術(shù)報(bào)告，中國廈門

China International Conference in Finance, Wuhan, China

The 4th Five-Star Conference in Finance, Beijing, China

2011 China Economist Society Annual Conference, Beijing, China

香港浸會大學(xué)受邀學(xué)術(shù)報(bào)告，中國香港

2010人民大學(xué)受邀學(xué)術(shù)報(bào)告，中國北京

The 3rd Five-Star Conference in Finance, Beijing, China

China International Conference in Finance, Beijing, China

Emerging Markets Finance Conference Program, Beijing, China

The 1st UIBE-ShiheziU Joint Conference, Xinjiang, China

The 7th International Academy of Global Business and Trade (IAGBT), Tokyo, Japan

2009The American Finance Association 2009 Annual Meeting, San Francisco, U.S.

International Economics and Finance Society China (IEFS) annual conference, Beijing, China

香港浸會大學(xué)受邀學(xué)術(shù)報(bào)告，中國香港

中央財(cái)經(jīng)大學(xué)受邀學(xué)術(shù)報(bào)告，中國北京

2008The Asian Finance Association (AsianFA) and the Nippon Finance Association (NFA) 2008 International Conference, Yokohama, Japan

Northern Finance Association 2008 Conference，Kananaskis Village, Canada

NBER China working group meeting, Cambridge, U.S.

2007The 20th Annual Australasian Finance and Banking Conference, Sydney, Australia

European Financial Management Corporate Governance& Shareholder Activism Symposium, Milan, Italy

The 2007 CityU-Waseda Joint Conference, Hong Kong

The 4th China International Conference in Finance, Chengdu, China

Chinese University of Hong Kong China Research Summer Institute, Hong Kong

The American Finance Association 2007 Annual Meeting, Chicago, U.S.

2006The19th Annual Australasian Finance and Banking Conference, Sydney, Australia

2005The 2005 City University of Hong Kong Conference - Corporate Finance and Governance, Hong Kong

教授課程Teaching

本科生：投資學(xué)、金融衍生市場、實(shí)證公司金融、公司金融

Undergraduate：Investment; Financial Derivatives; Empirical Corporate Finance; Corporate Finance

研究生：財(cái)務(wù)管理、公司財(cái)務(wù)、金融衍生市場、公司財(cái)務(wù)專題、實(shí)證公司金融

留學(xué)生：Topics in Corporate Finance、Theory of Finance

Postgraduate： Financial Management; Corporate Finance, Advanced Corporate Finance; Empirical Corporate Finance; Topics in Corporate Finance (in English) ; Theory of Finance (in English)

服務(wù) Service

Referee for Management Science, Financial Management, Journal of Comparative Economics, Journal of Business Research, International Review of Finance, Journal of Accounting and Public Policy, Emerging Markets Finance and Trade, International Review of Economics and Finance, Asia-Pacific Journal of Financial Studies, Economic Letters，管理世界、金融研究、經(jīng)濟(jì)學(xué)季刊等國內(nèi)期刊匿名評審人

現(xiàn)任北京金隅財(cái)務(wù)有限公司獨(dú)立董事，美國金融學(xué)會(AFA)成員，北京市團(tuán)市委授予的“圓明園學(xué)者”、對外經(jīng)濟(jì)貿(mào)易大學(xué)雙代會代表。