Research Interest

China's Financial System; Bond Market; Corporate Disclosure

Publications

1. Relative Industry Valuation and Cross-Border Listing (with Kee-Hong Bae and Xiaoqiao Wang), Journal of Banking and Finance 119, 2020.
2. Issuance Overpricing of China's Corporate Debt Securities (with Wei Xiong, Jinfan Zhang), Journal of Financial Economics 144, 2022. Media covered in VoxChina and Tsinghua Financial Review.
3. Strategic Press Release when Employee Unemployment Risk is Better Insured (with Bing Li, Zhenbin Liu, and Xiaoqiao Wang), Journal of Accounting, Auditing, and Finance 40, 2025
4. Are There Externalities of Private Firm News Disclosure? Evidence from Public Firms' Investment (with Feng Chen, Xingqiang Du, Kevin Tseng, and Xiaoqiao Wang), The Accounting Review 100, 2025

Working Papers

5. Comment Letters, Bond Issuance, and Connected Investors’ Purchases: Exchange of Private Information and Benefits between Issuers and Connected Investors (with T.J. Wong, Ray Zhang, and Tianyu Zhang), R&R at Management Science.
6. Shadow Banking and the Demand for Safe Assets (with Zhiguo He)
7. Regulatory Arbitrage in China's Bond Markets: Underwriter Demand and the Shadow Banking Nexus
8. Decoding the Green Premium, Evidence from China
9. Political Ties and Capital Allocation in China’s Bond Market (with Mai Li, Laura Xiaolei Liu, and Zhengyang Zhang)
10. When Numbers Speak: The Usefulness of ESG Indicators in Credit Rating Reports (with Lanying Gao, Yi Huang, and Rui Shen)

Awards

The Chinese University of Hong Kong, Shenzhen

• Presidential Exemplary Teaching Award (2018, first in university's history)
• University Founding Contribution Award (2025)