Executive Associate Dean, Presidential Chair Professor

Education Background:
Ph.D. Finance, Nanyang Technological University, Singapore
M.Sc. Economics, Hong Kong University of Science and Technology
Academic Area



Role of information intermediaries on capital markets, Chinese and foreign capital markets, Fintech

Research List

1. You, J., Zhang, B., Zhang, L. (2018), Who Captures the Power of the Pen?, Review of Financial Studies 31, 43-96.

2. Hoang, L., Moshirian, F., Nguyen, L., Tian, X., Zhang, B. (2017). How Do Foreign Institutional Investors Enhance Firm Innovation?, Journal of Financial Quantitative and Analysis 52, 1449-1490.

3. “Who Captures the Power of the Pen?” (with Jiaxing You and Le Zhang), 2017, Review of Financial Studies, forthcoming.

4.“The Determinants and Pricing of Liquidity Commonality Around the World” (Fariborz Moshiriana, Xiaolin Qian, and Claudia Koon Ghee Wee), 2016, Journal of Financial Markets, forthcoming.

5.“How do Foreign Institutional Investors Enhance Firm Innovation?” (with Luong Hoang Luong, Fariborz Moshirian, Lily Nguyen, and Xuan Tian), 2016, Journal of Financial Quantitative and Analysis, forthcoming.

6.“Dividend Policy and Earnings Management Across Countries” (with Wen He, Lilian Ng, and Nataliya Zaiats), 2017, Journal of Corporate Finance 42, 267-286.

7.“What Drives Investment-Cash Flow Sensitivity Around the World? An asset tangibility Perspective” (with Fariborz Moshirian, Vikram Nanda, and Alexander Vadilyev ), 2017, Journal of Banking and Finance 77, 1-17; Lead Article.

8.“Foreign Investor Heterogeneity and Stock Liquidity Across the World” (with Lilian Ng, Fei Wu, and Jing Yu), 2016, Review of Finance 20, 1867-1910.

9.“Foreign Institutional Ownership and the Global Convergence of Financial Reporting Practices” (with Vivian Fang and Mark Maffett), 2015, Journal of Accounting Research 53, 593-631.

10.“The Governance Effect of the Media’s News Dissemination Role: Evidence from Insider Trading” (with Lili Dai and Jerry Parwada), 2015, Journal of Accounting Research 53, 331-366.

11.“Political Uncertainty and Dividend Policy: Evidence from International Political Crises” (with Tao Huang, Fei Wu, and Jin Yu), 2015, Journal of International Business Studies 46, 574-595.

12.“The Invisible Hand of Short Selling: Does Short Selling Discipline Earnings Management?” (with Massimo Massa and Hong Zhang), 2015, Review of Financial Studies 28,  1701-1736.

13.“International Political Risk and Government Bond Pricing” (with Tao Huang, Fei Wu, and Jing Yu), 2015, Journal of Banking and Finance 55, 393-405.

14.“Commonality in News Around the World” (with Lam Tung Dang and Fariborz Moshirian), 2015, Journal of Financial Economics 116, 82-110.

15.“Cross Listing and Liquidity Commonality Around the World” (with Dang Tung Lam, Fariborz Moshirian, and Claudia Wee), 2015, Journal of Financial Markets 22, 1-26; Lead Article.

16.“Does PIN Affect Equity Prices Around the World?” (Previous title, “Informed Trading around the World”, with Sandy Lai and Lilian Ng), 2014, Journal of Financial Economics 114, 178-195.

17.“Does Auditor Choice Matter to Foreign Investors? Evidence from Foreign Mutual Funds Worldwide” (with Julia Chou and Nataliya Zaiats), 2014, Journal of Banking and Finance 46, 1-20; Lead Article.

18.“Systematic Liquidity and the Funding Liquidity Hypothesis” (with Xiaolin Qian and Lewis Tam), 2014, Journal of Banking and Finance 45, 304-320.

19.“Large Foreign Ownership and Stock Price Informativeness Around the World” (with Wen He, Donghui Li, and Jianfeng Shen), 2013, Journal of International Money and Finance 36, 211-230.

20.“Information Environment and Equity Risk Premium Volatility Around the World” (with Sie Ting Lau and Lilian Ng), 2012, Management Science 58, 1322-1340.

21.“The World Price of Home Bias” (with Sie Ting Lau and Lilian Ng), 2010, Journal of Financial Economics 97, 191-217; Lead Article.