PERSONAL PROFILE
Dr. Xuan Tian is currently Associate Dean and Chair Professor of Finance at PBC School of Finance, Tsinghua University. He is also the “Cheung Kong Scholar” Distinguished Professor (2016), the director of the Global Merger & Acquisition and Restructuring Research Center at Tsinghua University, and the director of the Finance MBA program at PBC School of Finance of Tsinghua University. Before joining Tsinghua, He was a Professor of Finance with tenure at Kelley School of Business of Indiana University. Professor Tian received his Ph.D. from Boston College in 2008, M.A. from the University of Washington, and B.A. from Beijing University, China, in 2001.
Professor Tian is an award winning researcher in the areas of corporate finance and financial intermediation with special research interests on venture capital, private equity, corporate innovation, and payout policy. His current research focuses on the role of venture capital and private equity in value creation for entrepreneurial firms and entrepreneurs. Another main area of his research is motivating and financing corporate innovation. He has more than 30 academic papers published in leading academic journals including the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies.
Prof. Tian’s articles won the 2012 Jensen Prize (2nd place) and 2019 Jensen Prize (1st place) for best paper published in the areas of corporate finance and organizations in the Journal of Financial Economics. Dr. Tian won the Kelley School of Business Research Excellence Award four times. Dr. Tian’s research has been presented at numerous university workshops such as Harvard University, Columbia University, Dartmouth College and academic conferences such as the National Bureau of Economic Research (NBER) meetings, the Western Finance Association (WFA) meetings, the American Finance Association (AFA) meetings, and the American Economic Association (AEA) meetings.
Professor Tian is on the editor board of the Accounting Review, a co-editor of Journal of Corporate Finance, an Associate Editor of Management Science, Journal of Banking and Finance, and China Economic Review. He is a committee member of many top academic conferences and has served as an ad hoc referee for over 30 academic journals.
ACADEMIC EXPERIENCE
PBC School of Finance, Tsinghua University
2014 ~ Current Chair Professor of Finance
2017 ~ Current “Cheung Kong Scholar” Distinguished Professor
2018 ~ Current Associate Dean of Research, International Affairs and MBA programs
Other
2021 ~ Current Vice President, National Institute of Financial Research
2021 ~ Current Member, Academic Committee of Tsinghua University
Kelley School of Business, Indiana University
2008 - 2016 Professor, Associate Professor, Assistant Professor of Finance
2013 - 2016 Mary Jane Geyer Cain Faculty Fellow
PUBLICATIONS
(Google Scholar Citations: 10,180 SSRN Downloads:75,000+ )
[1] “The Causes and Consequences of Venture Capital Stage Financing”, 2011, Journal of Financial Economics, Vol. 101 (1), 132-159.
· Winner of Jensen Prizes (2nd prize) of Journal of Financial Economics
[2] “The Role of Venture Capital Syndication in Value Creation for Entrepreneurial Firms”, 2012, Review of Finance, Vol. 16 (1), 245-283.
[3] “Preparing the Equity Market for Adverse Corporate Events: A Theoretical Analysis of Firms Cutting Dividends”, (with Thomas Chemmanur), 2012, Journal of Financial and Quantitative Analysis, Vol. 47 (5), 993-972.
[4] “The Dark Side of Analyst Coverage: The Case of Innovation”, (with Jie He), 2013, Journal of Financial Economics, Vol. 109 (3), 856-878.
[5] “Tolerance for Failure and Corporate Innovation”, (with Tracy Wang), 2014, Review of Financial Studies, Vol. 27 (1), 211-255.
[6] “Financial Development and Innovation: Cross Country Evidence”, (with Po-Hsuan Hsu and Yan Xu), 2014, Journal of Financial Economics, Vol. 112 (1), 116-135.
[7] “Communicating Private Information to the Equity Market before a Dividend Cut: An Empirical Analysis”, (with Thomas Chemmanur), 2014, Journal of Financial and Quantitative Analysis, Vol. 49 (5-6), 1167-1199.
[8] “Corporate Venture Capital, Value Creation, and Innovation”, (with Thomas Chemmanur and Elena Loutskina), 2014, Review of Financial Studies, Vol. 27 (8), 2434-2473.
[9] “Does Stock Liquidity Enhance or Impede Firm Innovation?” (with Vivian Fang and Sheri Tice), 2014, Journal of Finance, Vol. 69 (5), 2085–2125.
[10] “Does Banking Competition Affect Innovation?” (with Jess Cornaggia, Yifei Mao, and Brian Wolfe), 2015, Journal of Financial Economics, Vol. 115 (1), 189-209.
[11] “Disciplining Delegated Monitors: When Venture Capitalists Fail to Prevent Fraud by Their IPO Firms”, (with Gregory Udell and Xiaoyun Yu), Journal of Accounting and Economics, Vol. 61 (2-3), 526-544.
[12] “Location, Proximity, and M&A Transactions” (with Ye Cai and Han Xia), Journal of Economics & Management Strategy, Vol. 25 (3), 688-719.
[13] “Do Unions Affect Innovation?” (with Daniel Bradley and Incheol Kim), Management Science, Vol. 63 (7), 2251-2271.
[14] “How do Foreign Institutional Investors Enhance Firm Innovation?” (with Luong Hoang Luong, Fariborz Moshirian, Lily Nguyen, and Bohui Zhang), 2017, Journal of Financial and Quantitative Analysis, Vol. 52 (4), 1449-1490.
[15] “What Affects Innovation More: Policy or Policy Uncertainty?” (with Utpal Bhattacharya, Po-Hsuan Hsu, and Yan Xu), Journal of Financial and Quantitative Analysis, Vol. 52 (5), 1861-1901.
[16] “Bank Interventions and Firm Innovation: Evidence from Debt Covenant Violations,” (with Yuqi Gu and Connie Mao), 2017, Journal of Law and Economics, Vol. 60 (4), 637-671
[17] “Accessibility and Materialization of Firm Innovation,” (with Ning Jia), 2018, Journal of Corporate Finance, Vol. 48 (1), 515-541.
[18] “Do Antitakeover Provisions Spur Corporate Innovation? A Regression Discontinuity Analysis,” (with Thomas Chemmanur), 2018, Journal of Financial and Quantitative Analysis, Vol. 53 (2), 1-32.
[19] “How Does Hedge Fund Activism Reshape Corporate Innovation?” (with Alon Brav, Wei Jiang, and Song Ma), 2018, Journal of Financial Economics, Vol. 130 (2), 237-264
· Winner of Jensen Prizes (1st prize) of Journal of Financial Economics
[20] “Corporate Innovation along the Supply Chain,” (with Yongqiang Chu and Wenyu Wang), 2019, Management Science, Vol. 65 (6), 2445-2466
[21] “The Real Effect of Privatization: Evidence from China’s Split Share Structure Reform,” (with Yongxian Tan, Xinde Zhang, and Hailong Zhao), 2020, Journal of Corporate Finance, Vol. 64 (3), 1-23
[22] “Asymmetric Cost Behavior and Dividend Policy,” (with Jie He, Huan Yang, and Luo Zuo), 2020, Journal of Accounting Research, Vol. 58 (4), 989-1021
[23] “Peer Monitoring, Syndication, and the Dynamics of Venture Capital Interactions: Theory and Evidence,” (with Onur Bayar and Thomas Chemmanur), 2020 Journal of Financial and Quantitative Analysis, Vol. 55 (6), 1875-1914
[24] “Financial Reporting Frequency and Corporate Innovation,” (with Renhui Fu, Arthur Kraft, Huai Zhang, and Luo Zuo), 2020, Journal of Law and Economics, Vol. 63 (3), 501-530
[25] “Stock Market Liberalization and Innovation,” (with Fariborz Moshirian, Bohui Zhang, Wenrui Zhang), 2021, Journal of Financial Economics, Vol. 139 (3), 985-1014.
[26] “Hard Marriage with Heavy Burdens: Organized Labor as Takeover Deterrents,” (with Wenyu Wang), 2021, Review of Corporate Finance Studies, Vol. 10 (2), 306-346.
[27] “Human-Robot Interaction: When Investors Adjust the Usage of Robo-Advisors in Peer-to-Peer Lending” (with Ruyi Ge, Li Liao, and Eric Zheng), 2021, Information Systems Research, Vol. 32 (3), 774-785.
[28] “Does Customer-base Structure Influence Managerial Risk-taking Incentives?” (with Jie Chen, Xunhua Su, and Bin Xu), 2022, Journal of Financial Economics, Vol. 143 (1), 462-483.
[29] “How Does Human Capital Matter? Evidence from Venture Capital,” (with Lifeng Gu, Ruidi Huang, and Yifei Mao), 2022, Journal of Financial and Quantitative Analysis, Vol. 57 (6), 2063-2094.
[30] “Patent Quality, Firm Value, and Investor Underreaction: Evidence from Patent Examiner Busyness” (with Tao Shu and Xintong Zhan), 2022, Journal of Financial Economics, Vol. 143 (3), 1043-1069.
[31]“Do Place-based Programs Affect Local Innovation and Entrepreneurship?” (with Jiajie Xu), 2022, Review of Finance, Vol. 26 (3), 595-635.
[32] “Do Venture Capital Investors Learn from Public Markets?” (with Bibo Liu), Management Science, Vol. 68 (10), 7274-7297.
[33]“Do Short Sellers Affect Corporate Innovation? Evidence from a Policy Experiment” (with Jie He and Xiao Ren), Review of Corporate Finance Studies, forthcoming.
MONOGRAPHS AND BOOK CHAPTERS
[34] “Finance and Corporate Innovation: A Survey,” (with Jie He), 2018, Asia-Pacific Journal of Financial Studies, Vol. 47 (2), 165-212
[35] “China’s Venture Capital Market,” (with Zhaojun Huang), 2020, in The Handbook of China’s Financial System, Edited by Marlene Amstad, Guofeng Sun, and Wei Xiong, Princeton Press
[36] “Institutions and Innovation: A Review of Recent Literature,” (with Jie He), Annual Review of Financial Economics, forthcoming
[37] “Stage Financing in Venture Capital,” (with Zhaojun Huang), 2023, in The Palgrave Encyclopedia of Private Equity, Edited by Douglas Cumming and Benjamin Hammer, Springer
PUBLICATIONS IN CHINESE
[38] “股权激励计划能促进企业技术创新么?” (与孟清扬合作), 2018, 南开管理评论(3), 176-190.
[39] “金融科技与分析师市场” (与丁娜、金婧合作), 2020, 经济研究(9), 74-89.
[40] “常态化防疫”阶段我国经济现状与基于科技的应对之策” (与陈卓、刘碧波合作)，2020. 中国科学基金(6), 724-732.
[41] “互联网技术普及下的金融市场与创新：基于全球视角下的检验” (与黄兆君合作), 2021. 计量经济学报(3), 541-559.
[42]“中国高校创新成果转移及对创新的影响——以专利转让为例”（与刘春蕊合作），管理科学学报，录用待刊
WORKING PAPERS
[43] “The Disciplinary Role of Corporate Customers” with Jie Chen, Xunhua Su, Bin Xu, and Luo Zuo
· R&R, Journal of Accounting and Economics
[44] “The Real Effects of Shadow Banking: Evidence from China” with Guoqian Tu and Yichu Wang
· R&R, Management Science
[45] “Does Trading Spur Specialization? Evidence from Patenting” with Pengfei Han and Chunrui Liu
· R&R, Management Science
· On the 2023 NBER Chinese Economy program
· On the 2022 AFA program
[46] “Acquiring Innovation,” with Merih Sevilir and Che Zhang
· R&R, Review of Corporate Finance Studies
· On the 2012 AFA program
[47] “Does Political Uncertainty Affect Venture Capital?” with Yichu Wang and Kailei Ye
· R&R, Review of Corporate Finance Studies
[48] “The Role of Human Capital: Evidence from Corporate Innovation” with Tong Liu and Yifei Mao
· R&R, Journal of Empirical Finance
· On the 2018 AFA program
[49] “Resurrecting Dead Capital: The Sharing Economy, Entrepreneurship, and Job Creation,” with Yifei Mao, Jiajie Xu, and Kailei Ye
· On the 2022 NBER Entrepreneurship program
BOOKS
“Finance and Innovation: A New Framework” (in Chinese) , Peking University Press （《创新的资本逻辑》）, 2018
“Finance and Corporate Innovation: Advancing Innovation from Sustainable Growth: Implications for Asia” (co-edited with Bihong Huang and Bohui Zhang), Edward Elgar Press, 2020
“The New Start of China’s Financial Innovation”,(with Yiping Huang, Justin Lin, Kaisheng Yang, Gang Xiao, Zhuo Huang, Yan Shen, and Kai Guo, in Chinese), China Citic Press （《中国金融创新再出发》；合作者：黄益平、林毅夫、杨凯生、肖钢、沈艳、黄卓、郭凯）, 2020
Book Translation to Chinese, “VC: An American History” by Tom Nicholas, China CITIC Press, 2020
“Finance and Innovation: A New Framework,” (in Chinese), 2nd edition, Peking University Press （《创新的资本逻辑》（第二版））, 2021
Book Translation to Chinese, “The Power Law” by Sebastian Mallaby, Zhejiang Education Publishing Group （《风险投资史》）, 2022
EDUCATION
Ph.D. in Finance, Boston College May 2008
M.A. in Economics, University of Washington June 2003
B.A. in Economics, Beijing (Peking) University July 2001
EDITORIAL POSITIONS
2021 ~ Current Co-editor, Journal of Corporate Finance
2020 ~ Current Editorial Board, The Accounting Review
2019 ~ Current Managing Editor, China Accounting and Finance Review
2018 ~ Current Co-editor, Asia-Pacific Journal of Financial Studies
2014 ~ Current Associate Editor, Management Science
2015 ~ Current Associate Editor, Journal of Banking and Finance
2018 ~ Current Associate Editor, China Economic Review
2018 ~ Current Associate Editor, Journal of Financial Stability
2018 ~ 2020 Associate Editor, Journal of Corporate Finance
2015 ~ 2019 Associate Editor, Pacific-Basin Finance Journal
2014 ~ 2019 Associate Editor, International Review of Finance
2015 ~ 2018 Associate Editor, Financial Review
2013 ~ 2017 Associate Editor, Asia-Pacific Journal of Financial Studies
2017 Guest Editor, Asia-Pacific Journal of Financial Studies,
Special Issue on Entrepreneurial Finance and Technological Innovation
2016 Guest Co-editor, Pacific-Basin Finance Journal,
Special Issue on The Economic Advantages of Family Firms
RESEARCH GRANTS
Research Grant for “The Real Effects of COVID-19” Project of the National Natural Science Foundation of China (¥500,000 ~= $71,000), 2020-2021
“Outstanding Young Scientists” (卓越青年科学家) Program of Beijing Education Committee (¥15,000,000RMB~=$2,200,000), Principal Investigator, 2019-2023
“Distinguished Young Scholars” Program (国家杰出青年) of The National Natural Science Fund (¥2,800,000YMB ~=$420,000), Principal Investigator, 2019-2023
Research Grant for Major Projects of the National Natural Science Foundation of China (¥3,550,000 ~= $550,000), Principal Investigator, 2018-2022
Research Grant for Major Research Plans of the National Natural Science Foundation of China (¥8,000,000 ~= $1,150,000), Co-Investigator, 2018-2021
Research Grant of Tsinghua University (¥300,000~=$44,000), Principal Investigator, 2016-2018
Startup Research Grant of PBC School of Finance, Tsinghua University (¥600,000~=$88,000), Principal Investigator, 2014-2016
Indiana University CIBER Faculty Research Grant ($6,000), Principal Investigator, 2011-2012
HONORS AND AWARDS
Outstanding Research Award for Philosophy and Social Science Research (2nd prize), 2021
China Young Economist Award (中国青年经济学家奖), China Yong Economic Researcher Forum, 2020
“10 Most Popular Professors” in Chinese Business Schools, MBA China, 2020
Best Paper Award at China Management Association Annual Meetings, 2020
Outstanding Scientific Research Award, the most prestigious award issued by the Ministry of Education of the PRC (2nd prize), 2020
Jensen Prizes (1st place), Journal of Financial Economics, 2019
Fellow, Aspen China Fellowship Program, 2019
Korean Investment & Securities Co., Ltd. Outstanding Paper Award in the 14th International Conference on Asian-Pacific Financial Markets, 2019
Semifinalist for Best Paper Award in Corporate Finance at FMA Annual Meetings, 2019
“Fine Course” Award (精品课程) for Corporate Finance, Tsinghua University, 2019
Semifinalist for Best Paper Award in Corporate Finance at FMA Annual Meetings, 2018
Semifinalist for Best Paper Award in Investment at FMA Annual Meetings, 2018
Semifinalist for Best Paper Award in Financial Institutions and Market at FMA Annual Meetings, 2018
Korean Investment & Securities Co., Ltd. Outstanding Paper Award in the 13th International Conference on Asian-Pacific Financial Markets, 2018
16th “Best Teacher and Mentor” Award (良师益友奖), Tsinghua University, 2018
Teaching Award for Young Professors (青年教师教学优秀奖), Tsinghua University, 2018
Samsung Securities Co., Ltd. Outstanding Paper Award in the 12th International Conference on Asian-Pacific Financial Markets, 2017
“Cheung Kong Scholar” Distinguished Professor (“长江学者”特聘教授), the highest academic award issued by the Ministry of Education of the PRC, 2016
Best Paper Award in the Delaware Corporate Governance Symposium, 2016
Outstanding Yong Scholar Award (中国管理学青年奖), China Management Association, 2016
Academic Young Star Award (学术新人奖), Tsinghua University, 2016
15th “Best Teacher and Mentor” Award (良师益友奖), Tsinghua University, 2016
Best Paper Award in the Conference on the Theories and Practices of Securities and Financial Markets, 2016
Kelley School of Business Research Excellence Award (Best Researchers among Professors), 2016
Honorable Mention, IRRC Institute Research Award, 2015
Kelley School of Business Research Excellence Award (Best Researchers among Associate Professors), 2015
Semifinalist for Best Paper Award in Asian FMA Annual Meetings, 2015
Kelley School of Business Research Excellence Award (Best Researchers among Associate Professors), 2014
Jensen Prizes (2nd place), Journal of Financial Economics, 2012
Kelley School of Business Research Excellence Award (Best Researchers among Assistant Professors), 2012
Best Paper Award in Financial Institutions & Markets at FMA Annual Meetings, 2012
Semifinalist for Best Paper Award in Financial Institutions & Markets at FMA Annual Meetings, 2013
Semifinalist for Best Paper Award in Corporate Finance at FMA Annual Meetings, 2012
Semifinalist for Best Paper Award in Corporate Finance at FMA Annual Meetings, 2011
Semifinalist for Best Paper Award in Financial Institutions & Markets at FMA Annual Meetings, 2011
Nominated for the Trustee Teaching Awards at Indiana University, 2010
NBER Entrepreneurship Research Boot Camp Participant, NBER, 2008
McGraw-Hill/Irwin Best Corporate Finance Paper Award at Southern Finance Association Meetings, 2007
Best Doctoral Student Paper Award at Southwestern Finance Association Meetings, 2007
Doctoral Student Consortium Participant, Financial Management Association, 2007
Graduate Student Fellowship, Department of Finance, Boston College, 2003-2008
University Fellowship, Department of Economics, University of Washington, 2001-2003
Outstanding Student Fellowship, Beijing (Peking) University, 1997, Ranked the 3rd out of more than 15,000 high school students in Beijing who took China’s National University Entrance Examination
INVITED KEYNOTE SPEAKER AT ACADEMIC MEETINGS
2022: China Entrepreneurs Forum (Tianjin)
The 7th International Conference on Fintech and Regulation (Virtual)
The 10th China Annual Meetings of Investment (Virtual)
The Greater China Area Finance Conference (Virtual)
The 8th “Jingshi” Scholar Forum (Beijing), Tsinghua University and Peking University
Asian Financial Management Meetings Doctoral Consortium (Virtual)
Digital Innovation and Financial Access for Enterprises (Virtual)
Fintech, Innovation, and Risk Management Summer Research Boot Camp (Virtual)
2021: Annual Meetings of China Journal of Accounting Research (Virtual)
4th China Accounting and Finance Conference (Virtual)
Advanced Research Institute at University of Mucus Forum (Virtual)
2020: China Finance and Accounting Scholar Forum (Virtual)
The 6th “Jingshi” Scholar Forum (Virtual), Tsinghua University and Peking University
Summer Research Boot Camp on Corporate Finance and Financial Intermediation (postponed)
15th International Conference on Asia-Pacific Financial Markets Doctoral Consortium
2019: 10th Asia Pacific Innovation Conference
China Accounting and Financial Innovation Forum
Summer Research Boot Camp on Corporate Finance and Financial Intermediation
Research Symposium on Accounting and Finance
14th International Conference on Asia-Pacific Financial Markets Doctoral Consortium
2018: 13th International Conference on Asia-Pacific Financial Markets
NSFC Annual Conference for Young Scholars, Guangdong Technology University
Summer Research Boot Camp on Corporate Finance and Financial Intermediation
2017: Ph.D. Forum, Australian Banking and Finance Conference, Sydney Australia
Winter Finance Conference, Renmin University
China Finance Review International Conference, Shanghai Jiaotong University
The 14th International Conference on Service Systems and Service Management, Dalian
Summer Research Boot Camp on Entrepreneurial Finance and Financial Intermediation
2016: Conference on the Macroeconomy of China and the World, Fudan University
International Finance and Monetary Policy Conference, Nottingham University (Ningbo)
Summer Research Boot Camp on Entrepreneurial Finance and Financial Intermediation
Summer Research Boot Camp, Shanghai Jiaotong University
Conference on Chinese Capital Markets, Peking University
2015: Ph.D. Forum, Australian Banking and Finance Conference, Sydney Australia
The Inaugural “Jingshi” Scholar Forum (Beijing), Tsinghua University and Peking University
2014: CEAR/Finance Department Symposium at the Georgia State University
HKUST Entrepreneurship and Finance Conference, Hong Kong, China
Research Camp for Young Scholars, Renmin University, Beijing, China
2012: Tsinghua International Corporate Governance Conference, Beijing, China
2011: Canadian Conference on Economics of Entrepreneurship and Innovation, Kingston, Canada
CONFERENCE AND SEMINAR PRESENTATIONS
2022: American Finance Association Annual Meetings (Virtual, 2 papers)
2021: American Finance Association Annual Meetings (Paper and Discussion, Virtual),
China International Conference in Finance (Shanghai, China, 2 papers),
China Financial Research Conference (Beijing, China, 2 papers),
Northern Finance Association Annual Meetings (Virtual),
Eastern Finance Association Meetings (Virtual), Central University of Finance and Economics
2020:The Financial Intermediation Research Society Conference (Budapest, Hungary, postponed),
SFS Finance Cavalcade Conference (Virtual), Financial Management Association Meetings (Virtual),
Northern Finance Association Meetings (Virtual),
Boca Corporate Finance and Governance Conference (Virtual),
3rd China Finance Scholar Forum (Virtual), Paris Finance Meeting (Virtual),
Australian Banking and Finance Conference (Virtual),
International Conference on Asia-Pacific Financial Markets (Virtual), Zhejiang University
2019: Western Finance Association Annual Meetings (Huntington Beach), China International
Conference in Finance (Guangzhou, China, 3 papers), Financial Management
Association Meetings (New Orleans, 2 papers), China Financial Research Conference
(Beijing, China), Financial Management Association European Meetings (Glasgow,
Scotland), Journal of Financial Satiability Conference on Economic Policy Uncertainty
(Tokyo, Japan), International Conference on Asia-Pacific Financial Markets (Seoul,
Korea), Tianjin University
2018: American Finance Association Annual Meetings (Philadelphia), NBER Chinese
Economy program (Beijing, China), China International Conference in Finance (Tianjin,
China, 4 papers), MIT Asia Conference in Accounting (Hong Kong, China), Fintech,
Credit, and the Future of Banking Conference (Luzern, Switzerland), Financial
Management Association Meetings (San Diego, 4 papers), 13th International Conference
on Asia-Pacific Financial Markets (Seoul, Korea), Inaugural China Finance Scholar
Forum, Asia/Pacific Financial Management Association Meetings (Invited Session, Hong
Kong, China), Sun Yat-Sen University Finance Conference (Invited Speaker, Zhuhai,
China), Peking University, Renmin University, Hunan University
2017: American Finance Association Annual Meetings (Chicago, discussion),
SFS Cavalcade Asia-Pacific (Beijing, China),
China International Conference in Finance (Hangzhou, China, 3 papers),
Financial Management Association Meetings (Boston, 2 papers),
Asia/Pacific Financial Management Association Meetings (Invited Session, Taipei, China),
Australian Banking and Finance Conference (Sydney, Australia),
Midwest Finance Association Meetings (Chicago), CAFM Conference (Seoul, Korea),
University of International Business and Economics, Xiamen University,
Shanghai Finance and Law Research Institute, Central University of Finance and Economics,
Nanjing University
2016: American Finance Association Annual Meetings (San Francisco, 3 papers),
The Financial Intermediation Research Society Conference (Lisbon, Portugal),
SFS Finance Cavalcade Conference (Toronto, Canada),
Delaware Corporate Governance Symposium (Newark),
European Finance Association Annual Meetings (Oslo, Norway, 2 papers),
Conference on Financial Economics and Accounting (Toronto, Canada),
China International Conference in Finance (Xiamen, China, 4 papers),
MIT Asian Conference in Accounting (Xiamen, China),
Asian Bureau of Financial and Economic Research (Singapore, discussion),
Australasian Finance and Banking Conference (2 papers, Sydney, Australia),
Southern Finance Association Annual Meetings (San Destin),
China Finance Research Conference (Beijing, China),
CAFM Conference (Seoul, Korea), Paris Financial Management Conference (Paris, France),
Peking University (National Institute of Development), Renmin University,
Haerbin University of Technology
2015: American Finance Association Annual Meetings (Boston, 3 papers),
Conference on Financial Economics and Accounting (Newark),
China International Conference in Finance (Shenzhen, China, 2 papers),
Financial Management Association Annual Meetings (Orlando, 2 papers),
Journal of Law, Finance and Accounting (JLFA) conference (Hong Kong, discussion),
Asian Financial Management Association Meetings (Seoul, South Korea),
Australian Banking and Finance Conference (Sydney, Australia, discussion),
Tsinghua University (PBC School of Finance)
2014: Western Finance Association Annual Meetings (Monterey),
American Economic Association Annual Meetings (Philadelphia),
Association of Financial Economics Annual Meetings (Philadelphia),
European Finance Association Annual Meetings (Lugano, Switzerland, 2 papers),
Napa Conference on Financial Markets Research (Napa Valley),
CEAR/Finance Department Symposium at the Georgia State University (Atlanta),
The Financial Intermediation Research Society Conference (Quebec City, Canada, paper and discussion),
Entrepreneurial Finance and Innovation Conference (Boston, 2 papers),
Conference on Financial Economics and Accounting (Atlanta),
China International Conference in Finance (Chengdu, China, 3 papers and 2 discussions),
Financial Management Association Annual Meetings (Nashville),
London Business School Summer Finance Symposium (London, UK),
Northern Finance Association Annual Meetings (Ottawa, Canada),
Australian Banking and Finance Conference (Sydney, Australia, discussion),
Indiana University, Tsinghua University (School of Economics and Management),
Peking University (Guanghua School of Management, School of Economics)
2013: Western Finance Association Annual Meetings (Lake Tahoe, 4 papers),
American Finance Association Annual Meetings (San Diego),
NBER Productivity, Innovation, and Entrepreneurship Program Conference (Boston),
European Finance Association Annual Meetings (Cambridge, UK),
Kauffman Entrepreneurial Finance and Innovation Conference (Boston),
SunTrust FSU Finance Spring Beach Conference (Sandestin),
China International Conference in Finance (Shanghai, China),
Inaugural CSEF Conference on Finance and Labor (Capri, Italy),
Summer Institute of Finance Conference (Suzhou, China),
Inaugural CEPR European Workshop on Entrepreneurship Economics (Amsterdam, Netherlands),
Financial Management Association Meetings (Chicago, 2 papers),
State of Indiana Finance Symposium (Bloomington),
Financial Management Association European Conference (Luxembourg, Luxembourg),
Columbia University, Dartmouth College, Harvard Business School (EM unit),
Southern Methodist University, University of Texas at Dallas, Texas Christian University,
Temple University, University of Delaware, Tsinghua University (Accounting),
Cheung Kong Graduate School of Business, Chinese University of Hong Kong,
Hong Kong University of Science and Technology, City University of Hong Kong,
SAIF of Shanghai Jiao Tong University, PBC School of Finance at Tsinghua University,
Indiana University
2012: American Finance Association Annual Meetings (Chicago, 2 papers),
Western Finance Association Annual Meetings (Las Vegas, discussion),
European Winter Finance Conference (Flims, Switzerland),
The Financial Intermediation Research Society Conference (Minneapolis, paper and discussion),
European Finance Association Annual Meetings (Copenhagen, Denmark),
Kauffman-RCFS Entrepreneurial Finance and Innovation Conference (Boston, 2 papers),
Tsinghua University International Corporate Governance Conference (Beijing, China, invited speaker),
Kauffman Foundation-USPTO Conference on Innovation and Entrepreneurship (Chicago),
China International Conference in Finance (Chongqing, China),
Financial Management Association Annual Meetings (Atlanta, 4 papers),
The CFA-FAJ-Schulich Conference on Fraud, Ethics, and Regulation (Toronto),
Law and Entrepreneurship Retreat (Bloomington), Indiana University, Purdue University,
University of South Florida, Tsinghua University
2011: Western Finance Association Annual Meetings (Santa Fe),
NBER Entrepreneurship Program Conference (Boston),
American Economic Association Annual Meetings (joint with ASSA, Denver),
Econometric Society Winter Meetings (joint with ASSA, Denver),
Inaugural SFS Finance Cavalcade (Ann Arbor, 2 papers),
Third Paris Spring Corporate Finance Conference (Paris),
The Financial Intermediation Research Society Conference (Sydney, 2 papers),
Kauffman-RCFS Entrepreneurial Finance and Innovation Conference (Boston),
SunTrust FSU Finance Spring Beach Conference (Sandestin, 2 papers),
Annual Conference on Entrepreneurship and Innovation at Northwestern University (Chicago, paper
and discussion),
Canadian Conference on Economics of Entrepreneurship and Innovation (Kingston, Canada, invited
speaker),
China International Conference in Finance (Wuhan, China, 2 papers),
Financial Management Association Annual Meetings (Denver, 3 papers),
European Financial Management Symposium on Alternative Investments (Toronto),
Indiana University
2010: Annual Conference on Financial Economics and Accounting (College Park),
The Financial Intermediation Research Society Conference (Florence),
Inaugural Entrepreneurial Finance and Innovation Conference(Boston, 2 papers),
2nd ESSEC Private Equity Conference (Paris),
Napa Conference on Financial Markets Research (Napa Valley),
Annual Behavioral Conference at DePaul University,
SunTrust FSU Finance Spring Beach Conference (Sandestin),
China International Conference in Finance (Beijing, China),
Financial Management Association Annual Meetings (New York City, 2 papers),
Tsinghua University, Peking University, Shanghai JiaoTong University, Indiana University (x2)
2009: NBER Entrepreneurship Program Conference (Boston),
6th Annual Conference on Corporate Finance at Washington University,
Annual Conference on Financial Economics and Accounting (New Brunswick, paper and discussion),
IU-Notre Dame-Purdue Finance Symposium (West Lafayette),
Financial Management Association Annual Meetings (Reno, 2 papers),
2nd Annual Conference on Entrepreneurship and Innovation (Chicago),
China International Conference in Finance (Guangzhou, China, 2 paper and 2 discussions),
Midwest Finance Association Annual Meetings (Chicago, discussion)
2008: The Financial Intermediation Research Society Conference,
Anchorage (Alaska, 2 papers and 2 discussions),
Annual Conference on Financial Economics and Accounting (Austin),
University of Alberta, University of Arkansas, Chinese University of Hong Kong,
Georgetown University, Georgia State University, Hong Kong University of Science and Technology,
Indiana University, University of Notre Dame, Queen’s University, University of South Florida,
University of Tennessee, Tulane University
2007: Western Finance Association Annual Meetings (Big Sky),
European Finance Association Meetings (Ljubljana, 2 papers),
Financial Management Association Meetings (Orlando, 3 papers),
Southern Finance Association Meetings (Charleston, 3 papers),
China International Conference in Finance (Chengdu, China, paper and discussion),
Annual Trans-Atlantic Doctoral Conference (London, paper and discussion),
Eastern Finance Association Meetings, Midwest Financial Association Meetings,
Southwestern Financial Association Meetings, University of Alabama, Boston College (x2),
Clemson University, Iowa State University, Lehigh University, University of New Hampshire,
University of Rhode Island, University of San Diego, Southern Illinois University at Carbondale,
SUNY Buffalo, University of Hong Kong
2006: Boston College
TEACHING EXPERIENCE
- Corporate Finance (Master), Fall 2014, Fall 2015, Fall 2016, Fall 2017, Fall 2018, Fall 2019, Fall 2020, Fall 2021, Fall 2022
- Seminar on Advanced Topics in Finance (Ph.D.), Fall 2015, Fall 2016, Fall 2017, Fall 2018, Spring 2020, Spring 2021
- Global Private Equity Markets (MBA, EMBA, Executive), Spring 2015, Fall 2015, Spring 2016, Fall 2016, Spring 2017, Fall 2017, Spring 2018, Fall 2018, Spring 2019, Fall 2019, Spring 2020, Fall 2020, Spring 2021, Fall 2021, Fall 2022
- Corporate Finance (MBA, Executive), Spring 2016, Fall 2016, Fall 2017, Spring 2018, Fall 2018, Spring 2019, Fall 2019, Spring 2020, Fall 2020, Spring 2021, Fall 2021
- Corporate Governance (Executive), Spring 2016, Fall 2016, Spring 2017
- Seminar on Research Methods in Finance (Executive), Fall 2014
- Corporate Financial Strategy and Governance, Indiana University, Fall 2008, Fall 2009, Fall 2010, Fall 2011, Spring 2013, Spring 2014
- Intermediate Corporate Finance, Indiana University, Fall 2008
- Basic Finance, Boston College, Fall 2007
- Introductory Microeconomics, University of Washington, Summer 2002
Ph.D. Seminar in Corporate Finance, Indiana University
Che Zhang (in progress)
Jinxin Yu (in progress)
Kexin Wang (in progress)
Shurui Liu (in progress)
Zhenrong Zhao (in progress)
Yichu Wang (in progress)
Zewen Wu (in progress)
Dongqi Cui (in progress)
Yi Yu (in progress)
Fangjia Ouyang (in progress)
Li Li (Investment Director, Founder Securities, 2021)
Chunrui Liu (Assistant Professor, University of International Business and Economics, 2021)
Jiaqi Qian (Principal Staff Member, National Development and Reform Commission, 2021)
Wei Wei (Postdoc Research Fellow, University of Chicago, 2020)
Yuanchen Yang (Economist, International Monetary Fund, 2020)
Wenqing Zhao (Manager, GF Fund Management, 2019)
Xiang Li (Transferred to Boston College for Ph.D. Study in Finance, 2019)
Na Ding (Assistant Professor, Central University of Finance and Economics, 2018)
Qingyang Meng (Manager, China Asset Management, 2018)
Yifei Mao (Assistant Professor, Cornell University, 2015)
Brian Wolfe (Assistant Professor, SUNY Buffalo, 2014)
Kenneth Weakley (Finance, Indiana University, 2014)
Bader Alhashel (Finance, Kuwait University, 2012)
Alexander Borisov (Finance, University of Cincinnati, 2012)
Daniel S. Kim (Finance, Peking University, China, 2012)
Eun Seok Han (Economics, POSCO Research Institute, Korea, 2011)
Chao He (Industry)
Yunfeng Peng (Shanghai Jiaotong University)
Zhengda Zhou (Industry)
Shengjin Wu (Guangzhou Party School)
Gabby Wang (Accounting, Indiana University, 2013)
Kailei Ye (Finance, University of North Carolina at Chapel Hill, 2020)
Jiajie Xu (Finance, Boston College, 2021)
Kailei Ye (UNC Chapel Hill, Ph.D. study), Yuanchen Yang (Tsinghua PBC, Ph.D. study);
Moran Yang, Xing Liu (University of British Columbia, Ph.D. study),
Jing Jin, Zhao Zhang (University of Southern California, Ph.D. study),
Pai Zhang, Shubo Kou (Tsinghua University, Ph.D. study), Yuxuan Cai, Dongyue Liu,
Yu Liu (Tsinghua University, Ph.D. study), Jiayi Wei (INSEAD, Ph.D. study),
Ziming Wang (Tsinghua University, Ph.D. study), Zhuzhi Liu, Xujian Wanyan, Xin Hu, Wenjie Li,
Mingwei Wang, Xuecheng Gao, Jiahui Zhou, Minghao Zhen, Xinya Fang, Tianyu He, Chengpeng He,
Bingge Zhu, Yueyan Wang, Qi Wang, Qiang Zhang, Yimeng Lin, Yuxuan Li, Jiaqi Li, Zhao Yang,
Xinran Liang, Jie Li, Yue Lao, Yuqing Wang, Xichuan Lu, Juntong Yuan, Yiwen Wu, Jiayi Hu, Rui Ding,
Kaiyuan Shi, Zhi Li, Jiaming He, Xiangyu He, Lichen Feng, Yichen Yin, Yong Zhang, Yaqiao Zhang,
Zhiming Zhu, Xuan Li, Yi Li, Zhiheng Du, Huadong Liang, Yucheng Xuan, Lu Wang, Jiaqi Deng,
Qian Huang, Chunsheng Wu, Jiaxuan Li, Hang Yu, Jiexuan Wang, Liuyin Wang, Huanmu Zhang,
Bowen Zhou, Jiayang Xu, Yanzhe Jin
Lun Ren, Qi Liang, Minbao Jiang, Pingping Li, Changgeng Tian, He Jiang, Wangyu Ren, Wenyang Dou,
Fan Jiang, Jia Cai, Tong Wu, Wenjing Liu, Keying Huang, Shan Gao, Danfei Jiang, Xiang Tan, Zili Zeng,
Rui Zhang, Zuoling Qin, Xiaoxia Xie, Mandy Wang, Lige Zheng, Xuancheng Wei, Shuai Zhang,
Xiaohe Zhang, Xi Li, Junkai Li, Yan Wu, Tianao Zhao, Jingru Mo, Anqi Chen, Peng Yang, Anlong Li,
Jiajie Lu, Jiaxin Huang, Yucheng Wu, Pengfei Li, Dan Wang, Yang Liu, Zhenjun Wang, Yu Tian, Rui Zhang,
Yu Li, Luqing Zhang, Shitao Yuan, Jinglei Zhang, Dawei Wang, Ran Li, Li Xu, Yan Zhou, Xiaojian Ren,
Ming Jiang, Wei Cao, Tianming Wu, Yiwei Chen, Boteng Zhang, Man Ji, Yunlong Zhang, Yang Jia,
Dingxin Zhang, Yucong Meng, Yao Wu, Qin Yin, Xiran Liu, Ran Li, Zhi Qu, Jiuzhong Zhang, Dan Lu,
Qian Liu, Xiaoying Jiang, Junhan Jiao, Bingxiang Wang, Jingmin Wu, Longcan Xu, Defang Lai,
Honghao Wu, Bo Xu, Xinyi Zhang, Chris Wang, Tingting Xiao, Feifan Zhang, Chuyao Ruan,
Yangshi Cheng, Chuanzhao Tian, Gang Wang, Linxuan Wang, Yuan Zhou
Seminar in Advanced Corporate Finance (Ph.D.), Seminar in Corporate Finance (Ph.D.),
Advanced Corporate Finance (MBA), Financial Econometrics (MBA), Basic Finance (undergraduate),
Boston College, 2005-2007
Introductory Microeconomics (undergraduate), University of Washington, 2002-2003
PROFESSIONAL SERVICE
M&A Review Committee Member of the ChiNext Board, Shenzhen Stock Exchange, 2021 –
IPO Listing Committee Member of the ChiNext Board, Shenzhen Stock Exchange, 2020 –
Development and Strategy Advisory Board Member, Management Science Division of the National Natural Science Foundation of China, 2019 – 2021
Coordinator, Asia/Pacific Financial Management Association Ph.D. Consortium, 2018
Consultant Expert, World Bank, 2017
M&A Regulation Committee Member, China Securities Regulation Commission, 2016 –2019
Advisory Board Member, FMA Survey & Synthesis Series, 2016 – 2018
Ad-hoc referee
American Economic Review, Journal of Finance, Journal of Financial Economics,
Review of Financial Studies, Journal of Financial and Quantitative Analysis, Management Science,
The Accounting Review, Review of Finance, Review of Corporate Finance Studies,
Journal of Financial Intermediation, Journal of Economics & Management Strategy,
Journal of Corporate Finance, Journal of Banking and Finance, Journal of Business Venturing,
China Economic Review, Economics Letters, Financial Management, Journal of Empirical Finance,
Journal of Business, Finance and Accounting, Finance Research Letters, European Economic Review,
European Financial Management, Financial Review, Journal of Legal Studies,
Journal of Economics and Business, Pacific-Basin Finance Journal, Financial Review,
Quarterly Review of Economics and Finance, Corporate Governance: An International Review,
International Business Review, China Finance Review
Program Co-Chair, China Finance Research Conference (2022)
Program Co-Chair, Annual Conference in Digital Economics (2022)
Program committee and session chair: China International Conference in Finance (2022)
Program committee and session chair: China Financial Research Conference (2021)
Program committee and session chair: China International Conference in Finance (2021)
Program committee: China FinTech Research Conference (2021)
Reviewer for the “Cheung Kong Scholar” program (2021)
Reviewer for National Natural Science Foundation of China (2021, 30+ proposals)
Program committee: Northern Finance Association Meetings (2020)
Program committee: Financial Management Association Meetings (2020)
External reviewer for Research Grant Council of Hong Kong (2020, 4 proposals)
Reviewer for National Natural Science Foundation of China (2020, 23 proposals)
Reviewer for the “Cheung Kong Scholar” program (2020)
Program committee: Western Finance Association Meetings (2019)
Program committee and session chair: China International Conference in Finance (2019)
Program committee: SFS Cavalcade Asia-Pacific Meetings (2019)
Program committee: CUHK-RCFS Corporate Finance and Financial Intermediation Conference (2019)
External reviewer for Research Grant Council of Hong Kong (2019, 5 proposals)
Reviewer for National Natural Science Foundation of China (2019, 38 proposals)
Program committee: Financial Management Association Meetings (2019)
Program committee: Summer Institute of Finance (2019)
Program committee: China Financial Research Conference (2019)
Program committee: Northern Finance Association Meetings (2019)
Program committee: China FinTech Research Conference (2019)
Program committee: Western Finance Association Meetings (2018)
Program committee: SFS Cavalcade Asia-Pacific Meetings (2018)
Program committee: Financial Management Association Meetings (2018)
Reviewer for the “Cheung Kong Scholar” program (2019)
Program committee and session chair: China International Conference in Finance (2018)
Program committee: Australasian Finance & Banking Conference (2018)
Program committee: China Financial Research Conference (2018)
External reviewer for Research Grant Council of Hong Kong (2018, 5 proposals)
Reviewer for National Natural Science Foundation of China (2018, 14 proposals)
Reviewer for National Social Science Foundation of China (2018, 29 proposals)
Program committee: Summer Institute of Finance (2018)
Review committee: Sun Yefang Award for Financial Innovation (2018)
Review committee: Cheng Siwei Award for Venture Capital (2018)
Program committee: China Finance Review International Conference (2018)
Reviewer for the “Cheung Kong Scholar” program (2018)
Program committee: Western Finance Association Meetings (2017)
Program committee: European Finance Association Meetings (2017)
Program committee: Australasian Finance & Banking Conference (2017)
Program committee: SFS Cavalcade Asia-Pacific Meetings (2017)
Program committee: Summer Institute of Finance (2017)
Program committee and session chair: China International Conference in Finance (2017)
Co-organizer: Summer Research Boot Camp on Financial Intermediation and Market (2017)
Program committee: MIT Asia Conference in Accounting (2017)
Program committee: Financial Management Association Meetings (2017)
Program committee: Asian Financial Management Association Meetings (2017)
Track Chair, Midwest Finance Association Meetings (2017)
Program committee: China Financial Research Conference (2017)
External reviewer for Research Grant Council of Hong Kong (2017, 6 proposals)
Reviewer for the “Cheung Kong Scholar” program (2017)
Reviewer for the “1000 talent” program (2017)
Co-organizer: Summer Research Boot Camp on Entrepreneurial Finance and Financial Intermediation (2016)
Program committee: Western Finance Association Meetings (2016)
Program committee: European Finance Association Meetings (2016)
Program committee: Conference on Financial Economics and Accounting (2016)
Program committee: Financial Management Association Meetings (2016)
Program committee and session chair: China International Conference in Finance (2016)
Program committee: Conference on Asia-Pacific Financial Markets (2016)
Program committee: Asian Financial Management Association Meetings (2016)
Program committee: China Financial Research Conference (2016)
Executive review committee: Sun Yefang Award for Financial Innovation (2016)
External reviewer for Research Grant Council of Hong Kong (2016, 6 proposals)
External reviewer for Singapore Ministry of Education Social Science Research Thematic Grant (2015)
Co-chair, RFS-Sponsored Conference on Entrepreneurial Finance and Innovation Around the World (2015)
Co-chair and Session Chair, China International Conference in Finance (2015)
Executive review committee: Sun Yefang Award for Financial Innovation (2015)
Program committee: Western Finance Association Meetings (2015)
Program committee: European Finance Association Meetings (2015)
Program committee: 7th European Banking Center Conference (2015)
Program committee: 26th Annual Conference on Financial Economics and Accounting (2015)
Program committee: Financial Management Association Meetings (2015)
Program committee: Asian Financial Management Association Meetings (2015)
External reviewer for Research Grant Council of Hong Kong (2015, 9 proposals)
Program committee: Western Finance Association Meetings (2014)
Program committee and Session Chair: China International Finance Conference (2014)
External reviewer for Research Grant Council of Hong Kong (2014, 3 proposals)
External reviewer for Social Sciences and Humanities Research Council of Canada (2014)
Program committee: Financial Management Association Meetings (2014)
Program committee: Asian Financial Management Association Meetings (2014)
Program committee: Financial Management Association Meetings (2013)
External reviewer for Research Grant Council of Hong Kong (2013, 2 proposals)
External reviewer for Social Sciences and Humanities Research Council of Canada (2013)
Program reviewer: SFS Finance Cavalcade Conference (2012)
Program committee: Financial Management Association Meetings (2012)
External reviewer for Research Grant Council of Hong Kong (2012)
Book proposal reviewer for “Entrepreneurial Finance” by Gary Gibbons, Robert Hisrich, and Carlos Silva, SAGE Publications (2012)
Program committee: Conference on Financial Economics and Accounting (2011)
Program committee: Financial Management Association Meetings (2011)
External reviewer for Research Grant Council of Hong Kong (2011)
Program committee: Financial Management Association Meetings (2010)
External reviewer for Social Sciences and Humanities Research Council of Canada (2010)
Program committee: Midwest Finance Association Meetings (2009)
Program committee: Financial Management Association Meetings (2008)
Program committee: Eastern Finance Association Meetings (2008)
Book reviewer for “Venture Capital and Private Equity Contracting: An International Perspective,” by Douglas Cumming and Sophia Johan, Elsevier (2008)
Program committee: Financial Management Association Meetings (2007)
Program committee: Southern Finance Association Meetings (2007)
Program committee: Eastern Finance Association Meetings (2007)
Finance Department Doctoral Committee, Kelley School of Business, 2013 – 2014
Finance Department Seminar Series Coordinator, Kelley School of Business, 2011 – 2013
Finance Department Undergraduate Committee, Kelley School of Business, 2010 – 2011; 2013 – 2014
Judge for Kelley Global Scholar Case Competition, Kelley School of Business, 2014
Undergraduate Policy Committee, Kelley School of Business, 2013 – 2014
Research Policy Committee, Kelley School of Business, Indiana University, 2012 – 2013
Honors Program Committee, Kelley School of Business, Indiana University, 2011 – 2012
