PUBLISHED & FORTHCOMING PAPERS:
1. Numerological Heuristics and Credit Risk in P2P Lending, with Maggie Rong Hu, Yang Shi, and Michael Xiaoquan Zhang, Accepted, Information Systems Research [SSRN][Publisher]
Different heuristics are not randomly adopted by individual, the choice of heuristics reveals our characteristics and preference.
2. The Failure of Chinese Peer-to-Peer Lending Platform: Finance and Politics, with Qing He, 2021, Journal of Corporate Finance [SSRN] [Publisher]
P2P lending platforms have lower failure hazard before major political events, but they are more likely to fail afterwards.
3. VC Participation and Failure of Startups: Evidence from P2P Lending Platforms in China, with Iftekhar Hasan, 2021, Finance Research Letters [SSRN] [Publisher]
VC participation reduces bankruptcy hazards of startups, but has little influence on the probability that startups run off with investors' money.
4. Political Connection and the Walking Dead: Evidence from China’s Privately Owned Firms, with Qing He and Wenyu Zhu, 2020, International Review of Economics & Finance 69, 1056-1070.[SSRN] [Publisher]
Political connection creates zombie (i.e., insolvent and inefficient) firms in China.
5. China’s Zombie firms: Identification and Classification (in Chinese), with Qiang Qu, 2017, Studies of International Finance (国际金融研究) 8, 3-13. [Lead article] [Publisher]
6. Global Imbalance: An Explanation from the Perspective of International Monetary Imbalance (in Chinese),, with Fang Wang, 2016, China Soft Science (中国软科学) 5, 143-153. [Publisher]
WORKING PAPERS:
1. The Promises and Pitfalls of WealthTech: Evidence from Online Marketplace Lending, with Iftekhar Hasan and Haitian Lu, 2020 [SSRN]
WT is more competent but dishonest. The rise of WT impose negative externalities to other market participants.
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China Fintech Research Conference, Tianjin, China, 2022
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4th Greater China Area Finance Conference, Xiamen, China, 2022
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5th Shanghai-Edinburgh-London Fintech Conference, Shanghai, China, 2021
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7th International Young Finance Scholar's Conference, Oxford, UK, 2021
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China International Risk Forum, Chengdu, China, 2021
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2021 AFR summer institute of Economics and Finance, Hangzhou, China, 2021
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2020 FMA annual meeting (Semifinalist for Best Paper Award), New York, US, 2020
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2020 GSU-RFS Conference: Current Research in FinTech, Atlanta, US, 2020
2. Adverse Selection in Credit Certificates: Evidence from a P2P Platform, with Maggie Rong Hu, Yang Shi, and Michael Xiaoquan Zhang, 2020, [SSRN]
Credit certificates in P2P lending fail to correctly signal borrowers' quality due to adverse selection, as lower quality borrowers apply for more certificates.
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Leibniz Institute for Financial Research SAFE seminar series, Frankfurt, Germany, 2023
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Economic of Financial Technology Conference, Edinburgh, UK, 2022
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China Fintech Research Conference, Beijing, China, 2021
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IFABS 2021 Oxford Conference, Oxford, UK, 2021
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33rd Asian Finance Association Annual Meeting, Jinan, China, 2021
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China International Risk Forum, Chengdu, China, 2021
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BBS-JCF Co-sponsored Conference: Developments in Alternative Finance, Birmingham, UK, 2019
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ADBI-CUHK-SFI Conference on Fintech, Social Finance, and Financial Stability, Shenzhen, China, 2019
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The 3rd China Annual Conference of Fin-tech, Beijing, China, 2019
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Taiwan Finance Association Conference, Taipei, China, 2019
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China Financial Innovation Conference, Zhejiang, China, 2018
3. Are Two Heads Better than One, Wisdom of the Crowd in Loan Screening, with Iftekhar Hasan, Qing He and Haitian Lu, 2020
Wisdom of the crowd supplements the traditional loan screening technique by canceling out individual biases and improves loan screening accuracy.
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14th Annual China Finance Review International Conference, Shanghai (Emerald Best Paper Award), China, 2021
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FMA annual meeting, Denver, US, 2021
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33rd Asian Finance Association Annual Meeting (Best Paper Award), Jinan, China, 2021
4. Who Gains from the Blockchain Related Announcements? Evidence from China, with Qing He, 2023
Government support can promote blockchain related innovation, but it also creats speculation.
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2023 POMS Annual Meeting, New Orleans, US, 2023
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Chinese Path to Modernization, Helsinki, Finland, 2023
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Asian Meeting of Econometrics Society, Beijing, China, 2023
5. Seeing is Believing: The Impact of Buyers’ Onsite Viewing Activities on Housing Transactions, with Maggie Rong Hu, Weida Kuang, and Yang Shi, 2021
House buyers' onsite viewing activities improve thier transaction probability but increases transaction price.
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2023 AREUEA Annual Conference (jointly with ASSA), New Orleans, 2023
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Jinan-SMU-ABFER, Guangzhou, China, 2021
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AsRES-AREUEA Joint Conference, Singapore, 2021
6. Independent Directors’ Dissension as Whistleblowing, with Julan Du, Qing He and Oliver M. Rui, 2019
Independent directors' negative opinions force corporate executives to make proactive revision of misconducts through triggering external enforcement.
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FMA annual meeting, Denver, US, 2021
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9th International Conference on Restructuring of the Global Economy, Oxford, UK, 2019