2008 波士頓學(xué)院 金融學(xué) 博士學(xué)位

2003 華盛頓大學(xué) 經(jīng)濟(jì)學(xué) 碩士學(xué)位

2001 北京大學(xué) 經(jīng)濟(jì)學(xué) 學(xué)士學(xué)位

2014至今 清華大學(xué)五道口金融學(xué)院，院長(zhǎng)助理、金融學(xué)講席教授、博士生導(dǎo)師

2018至今 清華大學(xué)五道口金融學(xué)院，副院長(zhǎng)

2016至今 中國(guó)證監(jiān)會(huì)第六屆上市公司并購(gòu)重組審核委員會(huì)委員

2015至今 清華大學(xué)金融MBA教育中心，主任

2018至今 清華大學(xué)國(guó)家金融研究院全球并購(gòu)重組研究中心，主任

2014至今 清華大學(xué)國(guó)家金融研究院創(chuàng)業(yè)金融與經(jīng)濟(jì)增長(zhǎng)研究中心，主任

2015u2013 2018 清華大學(xué)國(guó)家金融研究院中國(guó)家族財(cái)富研究中心，主任

2008 u2013 2016 美國(guó)印第安納大學(xué)凱利商學(xué)院，教授(終身教職)、副教授(終身教職)、助理教授

公司金融

風(fēng)險(xiǎn)投資及私募資本

企業(yè)創(chuàng)新

股利政策

并購(gòu)重組

2014 u2013至今 副主編,管理科學(xué)

2018 u2013至今 副主編,公司金融期刊

2018 u2013至今 副主編,金融穩(wěn)定期刊

2017 u2013至今 副主編,中國(guó)經(jīng)濟(jì)評(píng)論

2014 u2013至今 副主編,國(guó)際金融評(píng)論

2018 u2013至今 主編，亞太金融研究期刊

2016 u2013 2017 主編，亞太金融研究期刊創(chuàng)業(yè)金融與技術(shù)創(chuàng)新�？�

2015 u2013至今 聯(lián)席主編，國(guó)際金融評(píng)論創(chuàng)業(yè)金融與企業(yè)創(chuàng)新�？�

2015 u2013至今 副主編,銀行與金融期刊

2015 u2013 2018 副主編,金融評(píng)論

2015 u2013至今 副主編,亞洲泛太平洋金融期刊

2013 u2013 2018 副主編,亞太金融研究期刊

[1] “The Causes and Consequences of Venture Capital Stage Financing,” 2011,Journal of Financial Economics, Vol. 101 (1), 132-159.

[2] “The Role of Venture Capital Syndication in Value Creation for Entrepreneurial Firms,” 2012,Review of Finance,Vol. 16 (1), 245-283.

[3] “Preparing the Equity Market for Adverse Corporate Events: A Theoretical Analysis of Firms Cutting Dividends,” (with Thomas Chemmanur), 2012,Journal of Financial and Quantitative Analysis, Vol. 47 (5), 993-972.

[4] “The Dark Side of Analyst Coverage: The Case of Innovation,” 2013, (with Jie He), 2013,Journal of Financial Economics, Vol. 109 (3), 856-878.

[5] “Tolerance for Failure and Corporate Innovation,” (with Tracy Wang), 2014,Review of Financial Studies,Vol. 27 (1), 211-255.

[6] “Financial Development and Innovation: Cross Country Evidence,” 2014, (with Po-Hsuan Hsu and Yan Xu),Journal of Financial Economics, Vol. 112 (1), 16-135.

[7] “Communicating Private Information to the Equity Market before a Dividend Cut: An Empirical Analysis,” (with Thomas Chemmanur),Journal of Financial and Quantitative Analysis, forthcoming.

[8] “Corporate Venture Capital, Value Creation, and Innovation,” 2014, (with Thomas Chemmanur and Elena Loutskina),Review of Financial Studies27, 2434-2473

[9] “Does Stock Liquidity Enhance or Impede Firm Innovation?” 2014, (with Vivian Fang and Sheri Tice),Journal of Finance, Vol. 69 (5), 2085-2125.

[10] “Does Banking Competition Affect Innovation?” 2015， (with Jess Cornaggia, Yifei Mao, and Brian Wolfe),Journal of Financial Economics, Vol. 115 (1), 189-209.

[11] “Disciplining Delegated Monitors: When Venture Capitalists Fail to Prevent Fraud by Their IPO Firms” (with Gregory Udell and Xiaoyun Yu),Journal of Accounting and Economics, Vol. 61 (2-3), 526-544.

[12] “Location, Proximity, and M&A Transactions” (with Ye Cai and Han Xia),Journal of Economics & Management Strategy, Vol. 25 (3), 688-719

[13] “Do Unions Affect Innovation?” (with Daniel Bradley and Incheol Kim),Management Science, Vol. 63 (7), 2251-2271.

[14] “How do Foreign Institutional Investors Enhance Firm Innovation?” (with Luong Hoang Luong, Fariborz Moshirina, Lily Nguyen, and Bohui Zhang), 2017,Journal of Financial and Quantitative Analysis, Vol. 52 (4), 1449-1490

[15] “What Affects Innovation More: Policy or Policy Uncertainty?” (with Utpal Bhattacharya, Po-Hsuan Hsu, and Yan Xu),Journal of Financial and Quantitative Analysis, Vol. 52 (5), 1861-1901.

[16] “Bank Interventions and Firm Innovation: Evidence from Debt Covenant Violations,” (with Yuqi Gu and Connie Mao),2017,Journal of Law and EconomicsVol. 60 (4). 637-671

[17] “Accessibility and Materialization of Firm Innovation,” (with Ning Jia), 2018,Journal of Corporate Finance, Vol. 48 (1), 515-541.

[18] “Do Antitakeover Provisions Spur Corporate Innovation? A Regression Discontinuity Analysis,” (with Thomas Chemmanur), 2018,Journal of Financial and Quantitative Analysis,Vol. 53 (2), 1-32.

[19] “How Does Hedge Fund Activism Reshape Corporate Innovation?” (with Alon Brav, Wei Jiang, and Song Ma),Journal of Financial Economics, forthcoming

[20] “Corporate Innovation along the Supply Chain,” (with Yongqiang Chu and Wenyu Wang),Management Science, forthcoming

[21] “Peer Monitoring, Syndication, and the Dynamics of Venture Capital Interactions: Theory and Evidence,” (with Onur Bayar and Thomas Chemmanur),Journal of Financial and Quantitative Analysis, forthcoming

[22] “Finance and Corporate Innovation: A Survey,” (with Jack He),Asia-Pacific Journal of Financial Studies,47 (2), 165-212

[23] “The Role of Human Capital: The Case of Corporate Innovation,” with Tong Liu and Yifei Mao

[24] “Does Political Uncertainty Affect Venture Capital?” with Kailei Ye

[25] “Rent Seeking, Brokerage Commissions, and the Pricing and Allocation in Initial Public Offerings,” with Thomas Chemmanur and Bibo Liu

[26] “Do Short Sellers Exacerbate or Mitigate Managerial Myopia? Evidence from Patenting Activities” with Jack He

[27] “Acquiring Innovation,” with Tong Liu and Merih Sevilir

[28] “Buying on Certification: Government Procurement and Credit Ratings,” with Kevin Green and Han Xia

[29] “The Real Effects of Sharing Economy: Evidence from Airbnb,” with Yifei Mao and Kailei Ye

[30] “How does Human Capital Matter? Evidence from Venture Capital,” with Lifeng Gu, Ruidi Huang, and Yifei Mao

[31] “Unleashing Innovation,” with Yifei Mao and Xiaoyun Yu

[32] “Hard Marriage with Heavy Burdens: Organized Labor as Takeover Deterrents,” with Wenyu Wang

[33] “Asymmetric Cost Behavior and Dividend Policy,” with Jie He, Huan Yang, and Luo Zuo

[34] “Financial Liberalization and Innovation,” with Fariborz Moshiran, Wenrui Wang, and Bohui Zhang.

[35] “The Real Effect of Privatization: Evidence from Chinau2019s Split Share Structure Reform,” with Yongxian Tan, Xinde Zhang, and Hailong Zhao

[36] “Information Spillover and Cross Monitoring between the Stock Market and Loan Market,” with Matthew Billett and Fangzhou Liu

[37] “Do Venture Capital Investors Learn from Public Markets?” with Bibo Liu

[38] “The Holy Grail of Teamwork: Management Team Synergies and Firm Innovation,” with Ning Jia and Weining Zhang

[39] “Financial Reporting Frequency and Corporate Innovation,” with Renhui Fu, Arthur Kraft, Huai Zhang, and Luo Zuo

[40] “Policy Uncertainty and Household Credit Access: Evidence from Peer-to-peer Crowdfunding,” with Xiang Li and Bibo Liu

[41] “Do Place-based Programs Affect Local Innovation and Entrepreneurship?” with Jiajie Xu

[42] “Trademarks in Entrepreneurial Finance: Empirical Evidence from Venture Capital Investments in Private Firms and Venture-Backed IPOs,” with Thomas Chemmanur, Harshit Rajaiya, and Qianqian Yu

[43] “Do Entrepreneurs Make Good VCs?” with Ye Cai and Merih Sevilir

《創(chuàng)新的資本邏輯》，北京大學(xué)出版社， 2018

2018:American Finance Association Annual Meetings (Philadelphia), NBER Chinese Economy program (Beijing, China), China International Conference in Finance (Tianjin, China, 4 papers), MIT Asia Conference in Accounting (Hong Kong, China), Fintech, Credit, and the Future of Banking Conference (Luzern, Switzerland), Financial Management Association Meetings (San Diego, 4 papers), Asia/Pacific Financial Management Association Meetings (Invited Session, Hong Kong, China), Sun Yat-Sen University Finance Conference (Invited Speaker, Zhuhai, China), Peking University, Renmin University, Hunan University

2017: American Finance Association Annual Meetings (Chicago, discussion), SFS Cavalcade Asia-Pacific (Beijing, China), China International Conference in Finance (Hangzhou, China, 3 papers), Financial Management Association Meetings (Boston, 2 papers), Asia/Pacific Financial Management Association Meetings (Taipei, China), Australian Banking and Finance Conference (Sydney, Australia), Midwest Finance Association Meetings (Chicago), CAFM Conference (Seoul, Korea), University of International Business and Economics, Xiamen University, Shanghai Finance and Law Research Institute, Central University of Finance and Economics, Nanjing University

2016:American Finance Association Annual Meetings (San Francisco, 3 papers), The Financial Intermediation Research Society Conference (Lisbon, Portugal), SFS Finance Cavalcade Conference (Toronto, Canada), Delaware Corporate Governance Symposium (Newark), European Finance Association Annual Meetings (Oslo, Norway, 2 papers), Conference on Financial Economics and Accounting (Toronto, Canada), China International Conference in Finance (Xiamen, China, 4 papers), MIT Asian Conference in Accounting (Xiamen, China), Asian Bureau of Financial and Economic Research (Singapore, discussion), Australasian Finance and Banking Conference (2 papers, Sydney, Australia), Southern Finance Association Annual Meetings (San Destin), China Finance Research Conference (Beijing, China), CAFM Conference (Seoul, Korea), Paris Financial Management Conference (Paris, France), Peking University (National Institute of Development), Renmin University, Haerbin University of Technology

2015:American Finance Association Annual Meetings (Boston, 3 papers), Conference on Financial Economics and Accounting (Newark), China International Conference in Finance (Shenzhen, China, 2 papers), Financial Management Association Annual Meetings (Orlando, 2 papers), Journal of Law, Finance and Accounting (JLFA) conference (Hong Kong, discussion), Asian Financial Management Association Meetings (Seoul, South Korea), Australian Banking and Finance Conference (Sydney, Australia, discussion), Tsinghua University (PBC School of Finance)

2014:Western Finance Association Annual Meetings (Monterey), American Economic Association Annual Meetings (Philadelphia), Association of Financial Economics Annual Meetings (Philadelphia), European Finance Association Annual Meetings (Lugano, Switzerland, 2 papers), Napa Conference on Financial Markets Research (Napa Valley), CEAR/Finance Department Symposium at the Georgia State University (Atlanta), The Financial Intermediation Research Society Conference (Quebec City, Canada, paper and discussion), Entrepreneurial Finance and Innovation Conference (Boston, 2 papers), Conference on Financial Economics and Accounting (Atlanta), China International Conference in Finance (Chengdu, China, 3 papers and 2 discussions), Financial Management Association Annual Meetings (Nashville), London Business School Summer Finance Symposium (London, UK), Northern Finance Association Annual Meetings (Ottawa, Canada), Australian Banking and Finance Conference (Sydney, Australia, discussion), Indiana University, Tsinghua University (School of Economics and Management), Peking University (Guanghua School of Management, School of Economics)

2013:Western Finance Association Annual Meetings (Lake Tahoe, 4 papers), American Finance Association Annual Meetings (San Diego), NBER Productivity, Innovation, and Entrepreneurship Program Conference (Boston), European Finance Association Annual Meetings (Cambridge, UK), Kauffman Entrepreneurial Finance and Innovation Conference (Boston), SunTrust FSU Finance Spring Beach Conference (Sandestin), China International Conference in Finance (Shanghai, China), Inaugural CSEF Conference on Finance and Labor (Capri, Italy), Summer Institute of Finance Conference (Suzhou, China), Inaugural CEPR European Workshop on Entrepreneurship Economics (Amsterdam, Netherlands), Financial Management Association Meetings (Chicago, 2 papers), State of Indiana Finance Symposium (Bloomington), Financial Management Association European Conference (Luxembourg, Luxembourg), Columbia University, Dartmouth College, Harvard Business School (EM unit), Southern Methodist University, University of Texas at Dallas, Texas Christian University, Temple University, University of Delaware, Tsinghua University (Accounting), Cheung Kong Graduate School of Business, Chinese University of Hong Kong, Hong Kong University of Science and Technology, City University of Hong Kong, SAIF of Shanghai Jiao Tong University, PBC School of Finance at Tsinghua University, Indiana University

2012:American Finance Association Annual Meetings (Chicago, 2 papers), Western Finance Association Annual Meetings (Las Vegas, discussion), European Winter Finance Conference (Flims, Switzerland), The Financial Intermediation Research Society Conference (Minneapolis, paper and discussion), European Finance Association Annual Meetings (Copenhagen, Denmark), Kauffman-RCFS Entrepreneurial Finance and Innovation Conference (Boston, 2 papers), Tsinghua University International Corporate Governance Conference (Beijing, China, invited speaker), Kauffman Foundation-USPTO Conference on Innovation and Entrepreneurship (Chicago), China International Conference in Finance (Chongqing, China), Financial Management Association Annual Meetings (Atlanta, 4 papers), the CFA-FAJ-Schulich Conference on Fraud, Ethics, and Regulation (Toronto), Law and Entrepreneurship Retreat (Bloomington), Indiana University, Purdue University, University of South Florida, Tsinghua University

2011:Western Finance Association Annual Meetings (Santa Fe), NBER Entrepreneurship Program Conference (Boston), American Economic Association Annual Meetings (joint with ASSA, Denver), Econometric Society Winter Meetings (joint with ASSA, Denver), Inaugural Society for Financial Studies Finance Cavalcade (Ann Arbor, 2 papers), Third Paris Spring Corporate Finance Conference (Paris), The Financial Intermediation Research Society Conference (Sydney, 2 papers), Kauffman-RCFS Entrepreneurial Finance and Innovation Conference (Boston), SunTrust FSU Finance Spring Beach Conference (Sandestin, 2 papers), Annual Conference on Entrepreneurship and Innovation at Northwestern University (Chicago, paper and discussion), Canadian Conference on Economics of Entrepreneurship and Innovation (Kingston, Canada, invited speaker), China International Conference in Finance (Wuhan, China, 2 papers), Financial Management Association Annual Meetings (Denver, 3 papers), European Financial Management Symposium on Alternative Investments (Toronto), Indiana University

2010:Annual Conference on Financial Economics and Accounting (College Park), The Financial Intermediation Research Society Conference (Florence), Inaugural Entrepreneurial Finance and Innovation Conference (Boston, 2 papers), 2nd ESSEC Private Equity Conference (Paris), Napa Conference on Financial Markets Research (Napa Valley), Annual Behavioral Conference at DePaul University, SunTrust FSU Finance Spring Beach Conference (Sandestin), China International Conference in Finance (Beijing, China), Financial Management Association Annual Meetings (New York City, 2 papers), Tsinghua University, Peking University, Shanghai JiaoTong University, Indiana University (x2)

2009:NBER Entrepreneurship Program Conference (Boston), 6th Annual Conference on Corporate Finance at Washington University, Annual Conference on Financial Economics and Accounting (New Brunswick, paper and discussion), IU-Notre Dame-Purdue Finance Symposium (West Lafayette), Financial Management Association Annual Meetings (Reno, 2 papers), 2nd Annual Conference on Entrepreneurship and Innovation (Chicago), China International Conference in Finance (Guangzhou, China, 2 paper and 2 discussions), Midwest Finance Association Annual Meetings (Chicago, discussion)

2008:The Financial Intermediation Research Society Conference, Anchorage (Alaska, 2 papers and 2 discussions), Annual Conference on Financial Economics and Accounting (Austin), University of Alberta, University of Arkansas, Chinese University of Hong Kong, Georgetown University, Georgia State University, Hong Kong University of Science and Technology, Indiana University, University of Notre Dame, Queenu2019s University, University of South Florida, University of Tennessee, Tulane University

2007:Western Finance Association Annual Meetings (Big Sky), European Finance Association Meetings (Ljubljana, 2 papers), Financial Management Association Meetings (Orlando, 3 papers), Southern Finance Association Meetings (Charleston, 3 papers), China International Conference in Finance (Chengdu, China, paper and discussion), Annual Trans-Atlantic Doctoral Conference (London, paper and discussion), Eastern Finance Association Meetings, Midwest Financial Association Meetings, Southwestern Financial Association Meetings, University of Alabama, Boston College (x2), Clemson University, Iowa State University, Lehigh University, University of New Hampshire, University of Rhode Island, University of San Diego, Southern Illinois University at Carbondale, SUNY Buffalo, University of Hong Kong

2006:Boston College

2019:10th Annual International Conference on the Chinese Economy, Hong Kong

2018: CAFM Conference, Seoul, Korea

Summer Research Boot Camp on Corporate Finance and Financial Intermediation, Tsinghua University and Hong Kong Polytechnic University

2017:Ph.D. Forum, Australian Banking, and Finance Conference, Sydney Australia

Inaugural Conference on Venture Capital for Chinese Young Scholars, East China University of Science and Technology

China Finance Review International Conference, Shanghai Jiaotong University

The 14th International Conference on Service Systems and Service Management, Dalian

Summer Research Boot Camp on Entrepreneurial Finance and Financial Intermediation, Tsinghua University, Hong Kong Polytechnic University, and University of International Business and Economics

2016:Conference on the Macroeconomy of China and the World, Fudan University

International Finance and Monetary Policy Conference, Nottingham University (Ningbo)

Summer Research Boot Camp on Entrepreneurial Finance and Financial

Intermediation, Tsinghua University, and Hong Kong Polytechnic University

Summer Research Boot Camp, Shanghai Jiaotong University

Conference on Chinese Capital Markets, Peking University

2015:Research Camp for Young Scholars, Tsinghua University and Peking University, Beijing China

2014:CEAR/Finance Department Symposium at the Georgia State University 2014：2014：HKUST Entrepreneurship and Finance Conference, Hong Kong, China

2012:Tsinghua International Corporate Governance Conference, Beijing, China

2011:Canadian Conference on Economics of Entrepreneurship and Innovation, Kingston, Canada

國(guó)家杰出青年， 2018

卓越青年科學(xué)家， 2018

Korean Investment & Securities Co., Ltd. Outstanding Paper Award in the 13th International Conference on Asian-Pacific Financial Markets, 2018

第十六屆“良師益友”獎(jiǎng)，清華大學(xué)， 2018

青年教師教學(xué)優(yōu)秀獎(jiǎng)，清華大學(xué)，2018

北京市無(wú)黨派人士建言獻(xiàn)策優(yōu)秀成果特等獎(jiǎng)，2018

Samsung Securities Co., Ltd. Outstanding Paper Award in the 12th International Conference on Asian-Pacific Financial Markets, 2017

中國(guó)管理學(xué)青年獎(jiǎng)， 2016

“學(xué)術(shù)新人”獎(jiǎng)，清華大學(xué)， 2016

第十五屆“良師益友”獎(jiǎng)，清華大學(xué)， 2016

Best Paper Award in the Delaware Corporate Governance Symposium, 2016

Honorable Mention, IRRC Institute Research Award, 2015

Kelley School of Business Research Excellence Award, 2015

Semifinalist for Best Paper Award in Asian FMA Annual Meetings, 2015

Kelley School of Business Research Excellence Award, 2014

Jensen Prize (2nd place) for the best paper published in 2011 in the areas of Corporate Finance and Organizations inJournal of Financial Economics, 2012

Kelley School of Business Research Excellence Award, 2012

Best Paper Award in Financial Institutions & Markets at FMA Annual Meetings, 2012

Semifinalist for Best Paper Award in Financial Institutions & Markets at FMA Annual Meetings, 2013

Semifinalist for Best Paper Award in Corporate Finance at FMA Annual Meetings, 2012

Semifinalist for Best Paper Award in Corporate Finance at FMA Annual Meetings, 2011

Semifinalist for Best Paper Award in Financial Institutions & Markets at FMA Annual Meetings, 2011

Indiana University CIBER Faculty Research Grant, 2011-2012

Nominated for the Trustee Teaching Awards at Indiana University, 2010

NBER Entrepreneurship Research Boot Camp Participant, NBER, 2008

McGraw-Hill/Irwin Best Corporate Finance Paper Award at Southern Finance Association Meetings, 2007

Best Doctoral Student Paper Award at Southwestern Finance Association Meetings, 2007

Doctoral Student Consortium Participant, Financial Management Association, 2007

Graduate Student Fellowship, Department of Finance, Boston College, 2003-2008

University Fellowship, Department of Economics, University of Washington, 2001-2003

Outstanding Student Fellowship, Beijing (Peking) University, 1997,Ranked the 3rdout of more than 15,000 high school students in Beijing in Chinau2019s National University Entrance Examination

教授

客座教授

博士學(xué)位論文委員會(huì)聯(lián)合主席 （畢業(yè)去向）

博士學(xué)位論文委員會(huì)委員（畢業(yè)去向）

博士論文開(kāi)題審查委員會(huì)外部成員

教學(xué)助理

中國(guó)證監(jiān)會(huì)上市公司并購(gòu)重組審核委員會(huì)，2016-

Consultant Expert, World Bank, 2017

Advisory Board Member, FMA Survey & Synthesis Series, 2016-2018

Finance Department Doctoral Committee, Kelley School of Business, 2013 u2013 2014

Finance Department Seminar Series Coordinator, Kelley School of Business, 2011 u2013 2013

Finance Department Undergraduate Committee, Kelley School of Business, 2010 u2013 2011;2013 u2013 2014

Judge for Kelley Global Scholar Case Competition, Kelley School of Business, 2014

Undergraduate Policy Committee, Kelley School of Business, 2013 u2013 2014

Research Policy Committee, Kelley School of Business, Indiana University, 2012 u2013 2013

Honors Program Committee, Kelley School of Business, Indiana University, 2011 u2013 2012