Publications

  • Huang, Y. Liang, B., Wu, K. 2021, Are Mutual Fund Manager Skills Transferable to Private Funds?  International Review of Economics and Finance, 76, 614-638. [PDF]

  • Huang, D., Li, J. Wu, K. 2021, The Effect of Oil Supply Shocks on Industry Returns,  Journal of Commodity Markets, 100172  [PDF]

  • Wu, K., Lai, S. 2020, Intangible Intensity and Stock Price Crash Risk, Journal of Corporate Finance, 64, 101682 [PDF]

  • Zhang, H., Wu, K., Qiu, Y., Chan, G., Wang, S., Zhou, D., Ren, X. 2020. Solar Photovoltaic Interventions Have Reduced Rural Poverty in China, Nature Communications 11: 1169 [PDF]

  • Zhang, H., Xu, Z., Wu, K., Zhou, D., Wei, G. 2019. Multi-dimensional Poverty Measurement for Photovoltaic Poverty Alleviation Areas: Evidence from Pilot Counties in China. Journal of Cleaner Production, 241 [PDF]

  • 陈海强, 韩乾, 吴锴. 2015, 融资约束抑制技术效率提升吗?——基于制造业微观数据的实证研究. 金融研究, 10: 148-162. [PDF]​​

  • Chen, H., Han, Q., Li, Y., Wu, K. 2013. Does Index Futures Trading Reduce Volatility in the Chinese Stock Market? A Panel Data Evaluation Approach. Journal of Futures Markets, 33(12), 1167-1190. [PDF]
 
  • 陈海强, 韩乾, 吴锴. 现金流波动, 2012, 盈利稳定性与公司价值——基于沪深上市公司的实证研究. 金融研究, 9: 181-194 [PDF]

  • 吴锴, 喻登科, 肖振红. 2009, 股息公告与自由现金流假说: 理论与验证. 经济与管理研究, 2: 70-75 [PDF]

Book Chapters

  • 理财规划基础, 李青云主编, 中国金融出版社, 2020, 北京
  • ​金融科技学, 李建军主编, 高等教育出版社, 2020, 北京

Working Papers

  • Do Political Connections Affect the Effectiveness of Corporate Poverty Alleviation? Evidence from China  (Revised and resubmitted, China Economics Review)           
      with Huiming Zhang, Jingying Huang, Shouyang Wang, Christian Nygaard, and Yueming Qiu

  • Does the Introduction of Index Options Affect Stock Market Volatility? A Panel Data Evaluation Approach [PDF] (Revised and resubmitted, International Journal of Finance and Economics)
     with Yi Liu and Weiyang Feng

  • Government Subsidy Dependence and Stock Price Crash Risk [PDF]
       with Xiaoxing Liu, Obaid Rehman, and Ziyan Zhu

  • Customer Concentration and Speed of Capital Structure Adjustment [PDF] 
      with Obaid Rehman, Xiaoxing Liu, and Junfeng Li

  • Do Intangible Assets Really Foster Corporate Tax Avoidance? [PDF] 
    ​ with Weimian Ai

  • Firm-Level Political Risk and Capital Structure Dynamics [PDF]
      with Seiwai Lai

  • Thirst for Money: External Guarantees and Stock Price Crash Risk [PDF] 
       with Zejun Jin and Maobin Xu

  • Firm-Level Political Risk and Corporate Innovation [PDF] 
    with Liu Xiaoxing, Obaid Ur Rehman, and Shaofang Li

  • Tax Policy Risk and Corporate Tax Avoidance [PDF]
     with Yuying Sun,Yao Yue​​​, and Shouyang Wang

  • How Do Firms Manage Earnings Following Natural Disasters? [PDF]
       ​with Huiming Zhang, Shouyang Wang, Yueming Qiu, and Mark Seasholes

  • Acquisition for Innovations? M&A Intensity and Intra-Firm R&D Allocations [PDF]
       with Shuxun Wang and Seiwai Lai

  • The Cost of Capital, Adjustment Costs, and Corporate Employment [PDF]
     with Soku Byoun and Zhaoxia Xu

  • Understanding the Information Content of Alternative Cost-of-Equity Proxies [PDF]  
    ​  with Soku Byoun

  • Corruption Investigation and Capital Structure Dynamics [PDF]
     with Jiming Liu

  • Relative Performance Evaluation and Corporate Tax Avoidance [PDF]
     with Ke Shi​

  • Relative Performance Evaluation and Stock Price Crash Risk [PDF]          
      with Suwei An and Xiaofen Tan

  • Does Performance Commitment Improve the Debt Solvency of the Acquirer? [PDF]
      with Minghong Sun, Yang Liu, Yiran Zhao, and Yufei Lu

  • Is Illiquidity Priced in the Chinese Stock Market?  [PDF] 
      with Jun Liu and Lang Zheng

  • ​COVID Pandemic Exposure and Corporate Financial Flexibility [PDF]
     with Obaid Rehman, Jia Liu and Yuying Sun

  •  Does Performance Commitment Protect M&A Bidders? [PDF] 
      with Maobin Xu and Zejun Jin​​​

  • It Pays to Have Guanxi: Social Capital and Household Income [PDF] 
     with Seiwai Lai, He Sun​​​​​​, and Yifan Xu

  • Manager Sentiment, Deal Characteristics, and Takeover Performance [PDF] 
     ​ with Suwei An and Xiaofen Tan

  • The Power of Title: Intellectual Property Support and Firm Innovation [PDF] 
    ​ with Maobin Xu

  • News Tone, Investor Sentiment, and Liquidity Premium [PDF]
     with Jun Liu, Ming Zhou, and Jingfu Jing

  • ​Shale Oil Exploration and Regional Innovation [PDF]
      with Zixuan Jiang​​​​​​

  • Market Liquidity and Price Disparity: Evidence from Chinese Cross-Listed Firms [PDF] 
     with Fuwei Jiang, Jun Liu and Botao Fan

  • Economic Policy Uncertainty and Global ETF Flows [PDF] 
       with Yuying Sun, Qianrun Lin, and Yindi Shen​

  • Does Local Bank Competition Mitigate Stock Price Crash Risk? [PDF]
     with Juncheng Li and Hemei Li

  • Mutual Fund Advisory Misconduct: Investor Flows and Company Reactions [PDF] 
       with Bing Liang and Yuying Sun

  • ​Natural Disaster​s and Regional Innovation [PDF]
    with Zilan Xu​ and Huiming Zhang
 
  • 供应商集中度与资本结构动态调整 [PDF]
        与阮思睿合作

  • 自贸区金融改革与资本结构动态调整 [PDF]
        与刘继明合作

  • 对赌协议的经济效益:一个文献综述, 与刘阳合作

  • Innovation Overload? [PDF]
    with Byoung-Hyoun Hwang and Hugh Hoikwang Kim​​​

Works in Progress

  • Suppplier Concentration and Analyst Forecast Quality [PDF]
       with Xiaotong Jia