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Bohui ZHANG WEBSITE
Bohui Zhang is the Executive Dean of School of Management and Economics at The Chinese University of Hong Kong, Shenzhen, the Associate Director of Shenzhen Institute of Data Economy, the Director of the Center for FinTech and Social Finance (SFI), SFI Chair Professor.
He was also the professor of finance at UNSW Business School, UNSW Sydney, and the associate director of the Institute of Global Finance (IGF). He studies FinTech, the media, Chinese capital market, and international capital markets. His papers have been accepted for publication in the global top-tier finance, accounting, and business journals such as the Review of Financial Studies, Journal of Financial Economics, Journal of Accounting Research, Management Science, Journal of Financial Quantitative and Analysis, Journal of International Business Studies, Review of Finance, Journal of Banking and Finance, Journal of Corporate Finance, Journal of Financial Markets, and Journal of International Money and Finance.
He has also been awarded with research grants from Australian Research Council, the Centre for International Finance and Regulation, Australian School of Business, National Natural Science Foundation of China, and best paper prizes from MIT Asia Conference in Accounting, the Annual Conference on Asia-Pacific Financial Markets of the Korean Securities Association, the Chinese Finance Association Best Paper Symposium, the China Finance Annual Meeting, the Asian Finance Association Conference, China International Conference in Finance, and the Northern Finance Association Conference.
1. “Nowcasting Firms’ Operating Activities from Satellite Data on Thermal Infrared Radiation” ,with Yuan Xue and Xiaofeng Zhao,,forthcoming ,2025
2. “Unraveling the Dividend Puzzle: A Field Experiment”,with Xiaoqiao Wang, Jing Xie, and Xiaofeng Zhao,,conditionally accepted,2025
3. “Pandemics and Household Cash Withdrawals: Evidence From Transaction Data on Hundreds of Millions of Bank Cards”,with Haohan Ren, Keming Wang, and Fan Zhang,,forthcoming,2025
4. “The Price of Carbon Risk: Evidence from the Kyoto Protocol Ratification”,with Justin Hung Nguyen and Cameron Truong,,130, 103118 ,2025
5. “Earnings Management upon a Sovereign Downgrade” ,with Yupeng Lin and Zilong Zhang,,52, 107324 ,2025
6. “Historical Slave Trade and Corporate Tax Evasion in Africa”,with Geng Niu, Yi Wang, and Yang Zhou,,forthcoming,2025
7. “Political Relations and Media Coverage”,with Jun Myung Song and Thomas Ruf,,171, 107364 ,2025
8. “A Good Sketch is Better than A Long Speech: Evaluate Delinquency Risk through Real-Time Video Analysis”,with Xiangyu Chang, Lili Dai, Lingbing Feng, Jianlei Han, and Jing Shi,,29, 467-500,2025
9. “The Boundaries of Law: Can US Private Enforcement Discipline Foreign Firms?”,with Massimo Massa, Xiaoqiao Wang, and Hong Zhang,,56, 62-83 ,2025
10. “Law and Borders: Entrepreneurs’ Immigration Status and Trade Credit”,with Changqin Luo, Hanwen Sun, and Guochao Yang,,87, 102606 ,2024
11. “Does Express Delivery Run ahead of Stock Price?”,with Jeffery Jinfan Chang and Shijie Yang,,28, 1687-1724,2024
12. “Leveraged Trading and Stock Returns: Evidence from International Stock Markets”,with Zhuo Chen, Pengfei Li, and Zhengwei Wang,,69, 100907 ,2024
13. “Panda Games: Corporate Disclosure in the Eclipse of Search”,with Kemin Wang and Xiaoyun Yu,,69, 3263-3284 ,2023
14. “State Controlling Shareholders and Payout Policy”,with Chen Lin, Hang Liu, and Chenkai Ni,,58, 1943-1972 ,2023
15. “Higher Education and Corporate Innovation” ,with Dongmin Kong and Jian Zhang,,72, 102165,2022
16. “Insider Sales under the Threat of Short Sellers: New Hypothesis and New Tests” ,with Kemin Wang, Rencheng Wang, K. C. John Wei, and Yi Zhou,,97, 427-451 ,2022
17. “Foreign Investment under the Spotlight of Home Media” ,with Wai-Man Liu and Jing Yu,,54, 2197-2234 ,2022
18. “Trust, Incomplete Contracting, and Corporate Innovation”,with Fei Xie and Wenrui Zhang,,68, 3419-3443 ,2022
19. “The More We Know, the Less We Agree: A Test of the Trading Horizon Heterogeneity Theory” ,with Lili Dai, Jerry T. Parwada, and Donald W. Winchester,,57, 45-67,2022
20. “Brain Drain: The Impact of Air Pollution on Firm Performance”,with Shuyu Xue and Xiaofeng Zhao,,110, 102546 ,2021
21. “Stock Market Liberalization and Innovation”,with Fariborz Moshirian, Xuan Tian, and Wenrui Zhang,,139, 985-1014,2021
22. “Does the Media Spotlight Burn or Spur Innovation?”,with Lili Dai and Rui Shen,,vol 26(1), 343-390,2021
23. “The Impact of XBRL Adoption on Local Bias: Evidence from Mandated U.S. Filers”,with Bing Li, Zhenbin Liu, and Wei Qiang,,39, 106767,2020
24. “Global Political Uncertainty and Asset Prices”,with Jonathan Brogaard, Lili Dai, and Phong Ngo,,33, 1737-1780,2020
25. “Is Information Risk Priced? Evidence from Abnormal Idiosyncratic Volatility”,with Yung Chiang Yang and Chu Zhang,,135, 528-554,2020
26. “Googling Investor Sentiment around the World”,with Zhenyu Gao and Haohan Ren,,55, 549-580,2020
27. “Investor Protection and the Value Impact of Stock Liquidity”,with Tao Huang, Fei Wu, and Jing Yu,,51, 72-94,2020
28. “Political Uncertainty and Finance: A Survey” ,with Lili Dai,,48, 307-333,2019
29. “News Media Coverage and Corporate Leverage Adjustments”,with Tung Lam Dang, Viet Anh Dang, Fariborz Moshirian, and Lily Nguyen,,109, 105666,2019
30. “Who Captures the Power of the Pen?”,with Jiaxing You and Le Zhang,,31, 43-96,2018
31. “The Determinants and Pricing of Liquidity Commonality Around the World”,Fariborz Moshirian, Xiaolin Qian, and Claudia Koon Ghee Wee,,33, 22-41,2017
32. “How Do Foreign Institutional Investors Enhance Firm Innovation?”,with Luong Hoang Luong, Fariborz Moshirian, Lily Nguyen, and Xuan Tian,,52, 1449-1490,2017
33. “The Governance Transfer of Blockholders: Evidence from Block Acquisitions and Earnings Management around the World”,with Lili Dai, Ravi Dharwadkar, and Linna Shi,,52, 586-607,2017
34. “Dividend Policy and Earnings Management Across Countries”,with Wen He, Lilian Ng, and Nataliya Zaiats,,42, 267-286,2017
35. “What Drives Investment-Cash Flow Sensitivity Around the World? An asset tangibility Perspective”,with Fariborz Moshirian, Vikram Nanda, and Alexander Vadilyev,,77,1-17;Lead Article,2017
36. “Foreign Investor Heterogeneity and Stock Liquidity Across the World”,with Lilian Ng, Fei Wu, and Jing Yu,,20, 1867-1910,2016
37. “Foreign Institutional Ownership and the Global Convergence of Financial Reporting Practices”,with Vivian Fang and Mark Maffett,,53, 593-631,2015
38. “The Governance Effect of the Media’s News Dissemination Role: Evidence from Insider Trading”,with Lili Dai and Jerry Parwada,,53, 331-366,2015
39. “Political Uncertainty and Dividend Policy: Evidence from International Political Crises”,with Tao Huang, Fei Wu, and Jin Yu,,46, 574-59,2015
40. “The Invisible Hand of Short Selling: Does Short Selling Discipline Earnings Management?”,with Massimo Massa and Hong Zhang,,28, 1701-1736,2015
41. “International Political Risk and Government Bond Pricing”,with Tao Huang, Fei Wu, and Jing Yu,,55, 393-405,2015
42. “Commonality in News Around the World”,with Lam Tung Dang and Fariborz Moshirian,,116, 82-110,2015
43. “Cross Listing and Liquidity Commonality Around the World” ,with Dang Tung Lam, Fariborz Moshirian, and Claudia Wee,,22, 1-26; Lead Article,2015
44. “Investor heterogeneity and commonality in stock return and liquidity” ,with Pan Deng, Jing Shi, and Fei Wu,,39, 458-473,2015
45. “Does PIN Affect Equity Prices Around the World?” Previous title, “Informed Trading around the World”,with Sandy Lai and Lilian Ng,,114, 178-195,2014
46. “Does Auditor Choice Matter to Foreign Investors? Evidence from Foreign Mutual Funds Worldwide”,with Julia Chou and Nataliya Zaiats,,46, 1-20; Lead Article,2014
47. “Systematic Liquidity and the Funding Liquidity Hypothesis”,with Xiaolin Qian and Lewis Tam,,45, 304-320,2014
48. “Large Foreign Ownership and Stock Price Informativeness Around the World”,with Wen He, Donghui Li, and Jianfeng Shen,,36, 211-230,2013
49. “Information Environment and Equity Risk Premium Volatility Around the World”,with Sie Ting Lau and Lilian Ng,,58, 1322-1340,2012
50. “The World Price of Home Bias”,with Sie Ting Lau and Lilian Ng,,97, 191-217; Lead Article,2010
