Research

Publication

• Can Technology Help Overcome Contractual Incompleteness? Evidence from Blockchain Laws

* Management Science

(with Mark Chen, Sophia Hu, and Qinxi Wu)

• • We empirically examine the effects of technological disruption on suppliers and customers in vertical production relationships.

  • Presentation: Lone Star Conference (2021), Financial Management Association Meetings (2021), Shanghai-Edinburgh-London Fintech Conference (2021), Southwestern University of Finance and Economics (2021), Baylor University (2021), Georgia State University (2021), European Finance Association (2022), China International Conference in Finance (2023), 9th HK Joint Finance Research Workshop (2023)

Working Papers 

• Information Acquisition in Mergers and Acquisitions - Evidence from EDGAR Web Traffic

  • I use EDGAR web traffic to study the effects of investors’ information learning activities in mergers and acquisitions.

  • Presentations: Midwest Finance Association Meetings (2022), American Finance Association Meetings Poster Session (2022), Atlanta Rising Scholar Symposium in Finance (2022), Global Finance Conference (2021), Dayton Summer Finance Workshop (2021), Financial Management Association Meetings (2021)

• Board Connections and CEO Successions

  • I study the effects of the connections between CEO candidates and board members on CEO appointment decisions and post-succession firm efficiencies.

  • Presentation: Northern Finance Association (2020), Global Finance Conference (2021), Georgia State University (2020); Peking University (2023)

• Riding on the FinTech Wave: Disruption and Value Creation in Corporate Takeovers

(With Alan L. Zhang)

• • We explore the motives and consequences of FinTech mergers. FinTech firms have a greater likelihood of becoming targets in mergers and acquisitions (M&As).

  • Presentation: China Fintech Research Conference (2022), Eastern Finance Association (2022), Asian Finance Association (2022), 36th Australasian Finance and Banking Conference (2023)

  • Media Coverage: Columbia Law School Blue Sky Blog

• Displacement or Augmentation? The Effects of AI on Workforce Dynamics and Firm Value

(with Mark Chen)

• • We provide evidence on the incidence of labor-displacing and augmenting technological innovations and how they affect innovating firm workforce dynamic and coporate values.

  • Presentation: Georgia State University (2022), Columbia & RFS AI in Finance Conference (2024); DEFT Academy/Xueshuo Summer Institute in Digital Finance (2024), ASSA/AFE Annual Meeting (2025 scheduled)

• Board Interlocks, Knowledge Spillovers, and Corporate Innovation

(with Mark Chen, Sophia Hu, and Qinxi Wu)

• • This paper examines whether board interlocks—direct links created when an individual serves concurrently on two or more corporate boards—foster spillovers of knowledge and innovation between firms.

  • Presentation: Baylor University (2021), UMass Dartmouth (2022); Financial Management Association Meeting (2022), The 8th Annual International Corporate Governance Society Conference (2022), SFS Cavalcade North America (2023), Midwest Finance Association Conference (2024)

  • Media Coverage: Columbia Law School Blue Sky Blog

• The Real Effects of Common Analyst Coverage on Mergers and Acquisitions

(with Omesh Kini)

• • We examine the influence of common analysts on the likelihood and subsequent outcomes of mergers and acquisitions (M&As). 

Selected Work-in-process

Local Labor Discrepancies and Corporate Geographic Diversification

(With Lixin Huang and Omesh Kini)