2000，加州大学洛杉矶分校，经济，博士
1994，中国人民银行研究生部，国际金融，硕士
1991，中国人民大学，应用数学，学士
2011至今，北京大学光华管理学院，教授
2003-2010，香港大学经济与工商管理学院，助理教授、副教授(终身职)
2001-2003，麦肯锡公司亚太公司金融与战略咨询中心，咨询顾问
2000-2001，香港大学经济金融学院，助理教授
1994，北京华夏证劵有限公司发行部，业务经理
1.公司金融
2.亚洲金融市场
3.公司金融案例分析
4.国际金融
5.收购与兼并
6.高级金融管理
7.公司财务理论与实证分析
英文书籍
“Finance in Asia: institutions, regulation, and policy” (joint with Douglas Arner and Paul Lejot), London – New York: Routledge. March 2013.
“Finance in Asia: A Critical Concept”(co-edit with Paul Lejot and Douglas Arner), Routledge, October 2013.
“Asia’s debt capital markets: prospects and strategies for development” (co-edit with Paul Lejot, Douglas Arner, and Jae-Ha Park), New York: Springer 2006.
已发表(包括正在印刷和已被接受)英文论文
"Sovereign funds,” The Encyclopedia of Financial Globalization, Elsevier, 2012.
"Capitalizing China: Comment on “Assessing China’s Top-Down Securities Markets”, 2012, NBER book edited by Joseph Fan and Randall Morck“
"Intellectual capital and financing decisions: evidence from the U.S. Patent data” (with Keith K.P. Wong), 2011, Management Science.
“Institutions and corporate investment: evidence from an investment-implied return on capital in China” (with Alan Siu), 2011, Journal of Financial and Quantitative Analysis. This paper has been quoted and discussed by the atricles "Bamboo Capitalism" and "Let Millions Flowers Bloom" in The Economist.
“Predict stock market returns with aggregate discretionary accruals” (with Qiang Kang and Rong Qi), Journal of Accounting Research, 2010, 48(4), 815-858. Featured and summarized in The CFA Digest, 2010, Vol. 40, No. 4 (by Georgeann Portokalis).
“Information-based stock trading, executive incentives, and the principal-agent problem” (with Qiang Kang), Management Science, 2010, 56(4), 682-698.
“The Sarbanes-Oxley Act and corporate investment: a structural assessment” (with Qiang Kang and Rong Qi), Journal of Financial Economics, 2010, 96 (2), 291-305.
“Competition and corporate tax avoidance: evidence from Chinese industrial firms” (with Hongbin Cai), The Economic Journal, 2009, 119 (April), 764-795.
“Market timing strategy with aggregate accruals” (joint with Qiang Kang and Rong Qi). Journal of Asset Management, 2009, 10 (3), 170-180. Featured and summarized in The CFA Digest, 2010, Vol. 40, No. 1: 118-120 (by Victoria Rati).
“Stock market information production and executive incentives” (joint with Qiang Kang), Journal of Corporate Finance, 2008. 14, 484-498.
“Stock trading and diversification discount” (with Rong Qi), Economics Letters, 2008, 98(1): 35 – 40.
“Corporate governance and earnings management in China: a tunneling perspective,” (with Joe Lu), Journal of Corporate Finance, 2007, 13: 881 – 906。
“Do we accept accruals profits at our peril?” (with Rong Qi) 2006, Financial Analysts Journal, Volume 62 (4): 62-75.
“How good is good news? Technology depth, book-to-market ratio, and innovative events,” 2006, Journal of Accounting, Auditing, and Finance, Vol. 21(3), 293-321.
“Missing links: regional reforms for Asian debt capital markets” (with Paul Lejot and Douglas Arner), Asia Pacific Business Review, 2006, 12(3):309-332.
“High stakes in high technology: high-tech market values as options” (with Michael R. Darby and Lynne Zucker), Economic Inquiry, lead article, 2004, Vol. 42(3): 351-369.
“Corporate governance in China: current practices, economic effects, and institutional determinants,” CESifo Economic Studies, 2006, 52(2), 415-453.
“Corporate Governance and Firm valuations in China” (with Chong-En Bai, Joe Lu, Frank Song, Junxi Zhang), 2004, Journal of Comparative Economics, lead article, 32(4):599-616. A condensed and non-academic version was published at Beyond Transition: The Newsletter about Reforming Economies, Vol. 15, No. 1, 2004, a quarterly publication by World Bank.
“The parent companies puzzle? when is the whole worth less than one of the parts?” (with Bradford Cornell), Journal of Corporate Finance, lead article, 2001, 341-366. Featured and summarized in The CFA Digest, 2002, Vol. 32, No. 2: 22-23.
已发表(包括正在印刷和已被接受)英文书籍章节.
“Asia's debt capital markets – Contemporary markets for Asian debt capital market instruments” (with Paul Lejot, Douglas Arner), in “Asia’s debt capital markets: prospects and strategies for development” (co-ed by Paul Lejot, Douglas Arner, Qiao Liu, and Jae-Ha Park), Springer 2006.
“Making Markets: Policy concerns and the value of regional markets” (with Paul Lejot, Douglas Arner) in “Asia’s debt capital markets: prospects and strategies for development” (co-ed by Paul Lejot, Douglas Arner, Qiao Liu, and Jae-Ha Park), Springer 2006.
“Asia's debt capital markets – Introduction” (with Paul Lejot, Douglas Arner, and Jae-Ha Park), in “Asia’s debt capital markets: prospects and strategies for development” (co-ed by Paul Lejot, Douglas Arner, Qiao Liu, and Jae-Ha Park), Springer 2006.
“Property rights, collateral and credit rights in east Asia” (with Douglas Arner, Charles Booth, Berry Hsu, Paul Lejot, and Frederik Pretorius), in "East Asian Finance: the road to robust markets" (edited by Swati R. Ghosh). Washington DC: World Bank. 2006.
已完成/投稿的工作论文
"Two Accrual Anomalies" (with Qiang Kang and Rong Qi), Revise and resubmit at Journal of Accounting and Economics, 2013.
“The real effect of S&P 500 additions: evidence from corporate investment” (with Yong Wei and Qiang Kang), October 2013.
“The evolution and consequence of Chinese pyramids” (with Ying Zheng and Yuande Zhu), December 2010.
“How do regulations affect corporate investment? evidence from state anti-takeover laws” (with Qiang Kang), June 2010.
“Two Accrual Anomalies” (with Qiang Kang and Rong Qi), August 2009.
“Credit rating changes and CEO incentives” (with Qiang Kang), 2009, working paper. Submitted.
“The value of corporate control: propping and tunneling evidence from China" (with Chong-En Bai, Frank Song), 2009. Submitted.
“Information production, cash flow, and corporate investment” (with Rong Qi). This version: July 2007. Under review. This paper has been presented at the 2003 American Finance Association annual meeting in Washington DC.
2013年获得国家自然科学基金***奖
2014年获教育部***特聘教授
