• Empirical Asset Pricing & Investment Management
• Chinese Financial Markets and Corporate Governance
• International Finance

“ESG Rating and Short Selling in the Corporate Bond Market” (with Li, Ying, Guo, Xu, and Ma, Xiaomeng) Finance Research Letters, 61 (March, 2024), article 104998.

“Do Investors Value Shareholder Perks? Evidence from Japan” (with S. Ghon Rhee, Katsushi Suzuki, and Taeko Yasutake) Journal of Banking and Finance, 143 (October 2022) 1-19. [Tier B in Shidler College Target Journal List]

““Passive” Insider Trading Before Pension Freezes” (with Bin Qiu) Journal of Financial Research, 45 (3) (June 2022), 607-631. [Tier B in Shidler College Target Journal List]

“Controlled Currency Regime and Pricing of Exchange Rate Risk: Evidence from China” (with Xiuping Hua, and Ying Jiang) Journal of Accounting, Auditing and Finance, 37 (1) (January 2022), 39-76.  [Tier B in Shidler College Target Journal List]

“Linguistically Induced Time Perception and Asymmetric Cost Behavior” (with Jaehyeon Kim) Management International Review, 60 (5) (2020), 755-785. [Tier B in Shidler College Target Journal List]

“Institutional Quality and Sovereign Credit Default Swap Spreads” (with Shu Lin, and Jian Yang) Journal of Futures Markets, 39 (6) (2019), 686-703. [Tier B in Shidler College Target Journal List]

“Information Asymmetry, Legal Environment, and Family Firm Governance: Evidence from IPO Underpricing in China” (with Jinxian Li, and Qiang Zhang) Pacific Basin Finance Journal, 57 (October 2019), 101109, 1-25.

“Foreign Institutional Investors and Corporate Governance in Emerging Markets: Evidence from a Split-Share Structure Reform in China” (with Tao Zhu) Journal of Corporate Finance, 32 (2015), 312–326. [Tier B in Shidler College Target Journal List]

“Extreme Downside Risk and Expected Stock Returns” (with Qianqiu Liu, S. Ghon Rhee, and Feng Wu) Journal of Banking and Finance, 36 (2012),1492–1502. [Tier B in Shidler College Target Journal List]

“Bank Loans with Chinese Characteristics: Some Evidence on Inside Debt in a State-Controlled Banking System” (with Warren Bailey, and Zhishu Yang) Journal of Financial and Quantitative Analysis,46 (6) (2011), 1795 – 1830. [Tier A in Shidler College Target Journal List]

This paper was awarded “Sun Yefang Financial Innovation Award” (May 2015, Beijing, China). This award, established by the Sun Yefang Economic Science Foundation of China, is a distinguished honor and represents the highest-level recognition for financial research within China. It is named in tribute to Sun Yefang (1908-1983), a pioneering Chinese economist who displayed great courage in advocating for market-oriented reforms post-1949.

This paper was also featured on Harvard Law School online Forum on Corporate Governance and Financial Regulation. This platform serves as a prominent hub for discussions on corporate governance and attracts extensive readership, with an estimated 250,000 readers accessing it each month.

“Another Look at Idiosyncratic Risk and Expected Return” (with Qianqiu Liu, Ghon Rhee, and Liang Zhang) Journal of Investment Management, 9 (4) (2011), 1-26.

“Agency Cost, Top Executives’ Overconfidence, and Investment-Cash Flow Sensitivity - Evidence from Listed Companies in China” (with Fu-xiu Jiang, Zhibiao Liu, and Min Zhang) Pacific Basin Finance Journal, 19 (3) (2011), 261-277 (lead article).

“Preferenced Trading, Quote Competition, and Market Quality: Evidence from Decimalization on the NYSE” (with Ghon Rhee, and Ning Tang) Financial Review, 45 (2010), 523-540.

“Return Reversals, Idiosyncratic Risk and Expected Return” (with Qianqiu Liu, Ghon Rhee, and Liang Zhang) Review of Financial Studies, 23 (1) (2010), 147-168. [Tier A in Shidler College Target Journal List]

“International Diversification with Large- and Small-cap Stocks” (with Cheol Eun, and Sandy Lai) Journal of Financial and Quantitative Analysis, 43 (2) (2008), 489–524. [Tier A in Shidler College Target Journal List]

This paper was quoted as a “landmark” study by Jack Hough in his April 2007 article titled “Under the Radar-Looking for diversification? Go abroad, and think small,” featured in Smart Money (the Wall Street Journal Magazine). 

“Financial Integration and Pricing of the World Covariance risk: Large vs. Small-cap Stocks” Journal of International Money and Finance, 26 (8) (2008), 1311-1337. [Tier A-/B+ in Shidler College Target Journal List]

“Asset Pricing in China’s Domestic Stock Markets – Is There a Logic?” (with Cheol Eun) Pacific Basin Finance Journal, 15 (5) (2007), 452-480.

This paper was ranked in 2012 as one of the most cited papers published by Pacific Basin Finance Journal.

“Price and Volume Effects of Changes in MSCI Indices – Nature and Causes” (with Rajesh Chakarabarti, Narayanan Jayaraman, and Jinsoo Lee) Journal of Banking and Finance, 29 (5) (2005), 1237-1264. [Tier B in Shidler College Target Journal List]

• Excellent Paper Award, 2023, the 5th China Academic and Policy Research Forum in Finance, hosted by the University of International Business and Economics and the Journal of Empirical Finance  

• Best Paper Award, 2018 Frontiers of Business Research-International Conference, Renmin  University, China, June 2018

• Sun Yefang Financial Innovation Award (May 2015, Beijing, China) 

• Shidler College of Business Summer Research Award (Multiple times) 

• Shidler College of Business, John and Sue Dean Professorship, August 2010 – present

• Shidler College of Business, Faculty Fellow, December 2007 - July 2010

• Shidler College of Business, Dennis Ching Teaching Award, May 2006

• Shidler College of Business, Faculty Research Award, May 2006, May 2009

• Beta Gamma Sigma, 2007

• BSI Gamma Foundation Research Award, 2003, “International Diversification with Large- and Small-cap Stocks”