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2025 Journal Publications

Time： 2026-04-07 11:48 Print

English Journal Publications

Zhuo Chen ,  Bibo Liu ,  Huijun Wang , Zhengwei Wang , Jianfeng Yu . Investor Sentiment and the Pricing of Characteristics-Based Factors . Review of Financial Studies , 2025, 38(12): 3580–3625.
Jingzhi Huang, Yoshio Nozawa, Zhan Shi. The Global Credit Spread Puzzle. Journal of Finance, 2025, 80(1): 101–162.  
Danqi Hu, Charles M. Jones, Xiaoyan Zhang, Xinran Zhang. When Do Short Sellers Trade? Evidence from Intraday Data and Implications for Informed Trading Models. Journal of Financial Economics, 2025, 172: 104148.  
Deepal Basak, Zhen Zhou. Panics and Early Warnings. Journal of Political Economy, 2025, 133(7): 2089-2138.  
Zhuo Chen, Andrea Lu, Xiaoquan Zhu. Investor Sentiment and the Pricing of Macro Risks for Hedge Funds. Management Science, 2025, 71(2): 1623-1645.  
Shun Fu, Emma Li, Li Liao, Zhengwei Wang, Hongyu Xiang. Unveiling the Villain: Credit Supply and the Debt Trap. Journal of Empirical Finance, 2025, 81: 101592.  
Will Gornall, Oleg R. Gredil, Sabrina T. Howell, Xing Liu, Jason Sockin. Do Employees Cheer for Private Equity? The Heterogeneous Effects of Buyouts on Job Quality. Management Science, 2025, 71(5): 4287-4317.  
Steven Wei Ho, Clark Liu, Shujing Wang. Bank Loan Announcement Effects: Evidence from a Comprehensive 8-K Sample. Journal of Financial and Quantitative Analysis, 2025, 60(2): 771-809.  
Clark Liu, Yancheng Qiu, Shujing Wang, P. Eric Yeung. Big Data Availability and Asymmetric Voluntary Disclosures. Management Science, 2025, online.  
Yunong Li, Yi Lu, Jianguo Wang. Productivity Gains from Trade: Bunching Estimates from Trading Rights in China. Review of Economics and Statistics, 2025, 107(5): 1275–1290.  
Na Ding, Panpan Feng, Jianjun Liu, Zhaoyue Ren, Xueyong Zhang. Economic Policy Uncertainty and Covenants in Venture Capital Contracts. Journal of Banking and Finance, 2025, 181: 107562.  
Matthew Billett, Fangzhou Liu, Xuan Tian. Information Spillovers and Cross Monitoring between the Stock Market and Loan Market. Journal of Banking and Finance, 2025, 171: 107351.  
Geert Bekaert, Xue Wang, Xiaoyan Zhang. The International Commonality of Idiosyncratic Variances. Management Science, 2025, 71(3): 2216-2244.  
Hao Gao, Yuanyu Qu, Chenyu Wang, Weixing Wu. Strategic Reaction to Environmental Regulation: The Combined Effect on Earnings Management and Environmental Information Disclosure. European Financial Management, 2025, 31(5): 1561-1911.  
Julan Du, Yi Lu, Zhigang Tao, Yan Zhang. Getting Back a Level Playing Field under State-Guided Market Economy: Evidence from Quake Donations by Non-State-Controlled Companies in China. Journal of Comparative Economics, 2025, 53(2): 559-583.  
Osea Giuntella, Yi Lu, Tianyi Wang. How Do Workers Adjust to Robots? Evidence from China. Economic Journal, 2025, 135(666): 637–652.  
Pei Li, Kaihao Liu, Yi Lu, Lu Peng. Organizing Regulatory Structure and Local Air Quality: Evidence from the Environmental Vertical Management Reform in China. Journal of Comparative Economics, 2025, 53(1): 139-164.  
Ben G. Li, Yi Lu, Pasquale Sgro, Xing Xu. Trump, China, and the Republicans. The Scandinavian Journal of Economics, 2025, 127(3): 653-692.  
Jianghuai Hou, Fang Wang, Ji Zhang. How Trade Drives Fluctuations in Macroeconomics in China – A Multi-Level Dynamic Factor Approach. China Economic Review, 2025, 91: 102393.  
Nanyang Bu, Wen Shen, Xiangyu Guo. From Premium to Discount: A Quasi-natural Experiment in Shanghai's Judicial Auction Housing Market. Finance Research Letters, 2025, 77: 107058.  
Qingqing Niu , Lihao Wang, Zheng Xiao. Government Guidance Funds and Regional Talent Mobility: Evidence from China’s Floating Population. China Finance Review International, 2025, 1-23.  
Jie Chen, Xunhua Su, Xuan Tian, Bin Xu, Luo Zuo. Do Major Corporate Customers Deter Supplier Misconduct?. Journal of Accounting and Economics, 2025, 80(2-3): 101801.  
Xuan Tian , Yichu Wang, Kailei Ye. How Does Policy Uncertainty Affect Venture Capital?. The Review of Corporate Finance Studies, 2025, (14): 439-481.  
Onur Bayar, Thomas Chemmanur, Harshit Rajaiya, Xuan Tian, Qianqian Yu. Trademarks and Entrepreneurial Firm Success: Theory and Evidence from Venture Capital investments in Private Firms. Entrepreneurship Theory and Practice, 2025, 49(3): 846-882.  
Ning Jia, Jiaqi Qian, Xuan Tian, Jinxin Yu. What a Relief: How Do Firms Respond to Competitors’ Listing Delays?. Contemporary Accounting Research, 2025, 42(2): 731-1520.  
Emma Li, Zhengwei Wang, Le Zhao. Alternative Data as an External Governance Mechanism. Corporate Governance: An International Review, 2025, 33(5): 1126–1144.  


Chinese Journal Publications

Yinggang Zhou, Jun Pan, Zeyun Bei, Hang Liu. How to Use the Economic and Financial Cycles to Improve Asset Allocation. Journal of Management Sciences in China, 2025, 28(10): 110-125.
Xiaoquan Zhu, Zhuo Chen, Tong Xu, Zhiguo He. How Do Implicit Guarantees by Local Governments Affect the Real-Time Credit Risk of Small and Medium-Sized Banks?. Journal of Financial Research, 2025, 536: 76-94.
Jinli Xiao, Jialing Li, Hao Gao, Fenghua Wen. Pyramid Structure and Labor Income Share. Chinese Journal of Management Science, 2025, 33(8): 50-60.
Ting Ji, Yi Lu, Yuwan Duan. International Trade Policy Design from the Perspective of Tariff and Domestic Tax Coordination. Journal of Management World, 2025, 41(3): 1-26.
Hu Jun, Li Qiang, Zeng Yong, Tian Xuan, Liu Song. Digital footprints and default prediction: Evidence from consumer credit. Journal of Management Sciences in China, 2025, 28(2):115-139.
Xiaoquan Zhu, Luoming Liang, Zhuo Chen. Progress in Research on Risks and Pricing of the Chinese Bond Market and Preliminary Practices in Supporting the Real Economy. Bulletin of National Natural Science Foundation of China, 2025, 39(2): 498-534.
Zhuo Chen, Xinyu Sun, Xiaolong Zheng, Xingwei Zhang, Xuan Tian, Xiaoguang Yang. Digital-intelligent Technologies and Financial Development: A Review of Progress and Research Directions. Bulletin of National Natural Science Foundation of China, 2025, 39(4): 615-634.
Jiandong Ju, Jianghuai Hou. From Trade War 1.0 to 2.0: A New Phase in Global Economic Competition. Journal of International Trade, 2025, (5): 1-25.
Qingtao Li , Jing Li. Key Points, Impacts and Responses of the EU's New Regulations on ESG Rating Supervision. Finance and Accounting Monthly, 2025, 46(11): 106-113.
Xiaohua Bao, Yitong Wu, Qingqing Niu. A Study on the Inducing Effect of Technical Trade Barriers on Firms' Outward Foreign Direct Investment. Journal of International Trade, 2025, (10): 20-38.
Min Zhu, Liu Pan. 提升宏观金融风险管控能力 筑牢金融强国建设基石. China Leadership Science, 2025, (4): 4-15.
Lei Ming, Jiayi Xu, Ping Yang, Yao Shen. Research on International Price Setting Efficiency of Shanghai Gold Market Based on High Frequency Data. Studies of International Finance, 2025, (12): 32-46.
Bing Gong , Siyao Yang, Zhaoyi Xu, Wenjie Yin. Research on the Impact of International Technology Local Breakthroughs on Corporate Income Distribution. Journal of International Trade, 2025, (10): 57-72.
Min Zhu, Bing Gong, Siyao Yang. 技术驱动与宏观经济政策下的纳斯达克指数波动研究. International Finance, 2025, (2): 3-14.
Min Zhu, Bing Gong, Siyao Yang. Examining the Global Implications of Trump 2.0 through the Lens of Reaganomics. Journal of Shanghai University of Finance and Economics, 2025, 27(4): 17-36.
Luzi Zhang , Wanxiao Xu. Research on Financial Empowerment for the High-quality Development of Economy. Journal of Technical Economics & Management, 2025, (9): 45-51.
Luzi Zhang, Junguo Cheng, Ruifan Zhou, Jianchen Ding. Venture Capital, Breakthrough Innovation and New Quality Productivity of Enterprises. Journal of Industrial Technology and Economy, 2025, 44(11): 3-12.
Junjian Gu, Siyu Hu, Xuejiao Yu, Weiqiang Zhang. 信贷政策冲击与企业数字化转型：企业负债的视角. Journal of Modern Finance, 2025, (12): 44-55.
Yunxuan Zhu, Jing Li, Tuoyu Peng. The Deeply Coupled Technological Pathway of Artificial Intelligence and Industry: From Cloud-based Cognition to Embodied Reconfiguration. Journal of Industrial Technology and Economy, 2025, (6): 90-98.