Uncategorized Archives - Page 2 of 4

August 16, 2023

Peer Firm Selection and Executive Compensation: The Case of Dual-role Peers

Abstract

The Securities and Exchange Commission’s 2006 Executive Compensation Disclosure Rules require firms to disclose how executive pay is determined by benchmarking total compensation at the competitive labor market level (compensation benchmarking) and by benchmarking performance targets in relative performance evaluation (performance benchmarking). Prior studies examining the selection of peer firms typically focus on one or the other benchmark. Using Incentive Lab’s detailed data on proxy statements from 2006 through 2015, we find that approximately 57% of the peers are used simultaneously for both compensation and performance benchmarking, a pattern largely ignored in prior literature. We label these peers as “dual-role peers” and show that firms can indeed succeed in selecting such peers in order to achieve high pay and yet low expected performance. Moreover, we find that the extent of such discretionary peer selection is positively associated with realized excess CEO pay, and negatively associated with ex-post stock performance in the subsequent year. Additional evidence shows that the power of CEOs to intervene the boards’ compensation decisions exacerbates the opportunistic peer selection. Our study provides new evidence on managerial self-serving behavior in compensation practices and highlights the importance of considering dual-role peers in compensation research.

August 16, 2023

Government Ownership, Non-CEO Top Executives’ Horizontal Pay Dispersion and Firm Performance

Wei Jiang, Bin Ke, Hong Ru, and Yue Xu

Abstract
The objective of this study is to analyze the compensation practices of non-CEO top executives as a group measured by horizontal pay dispersion. We address two specific questions. First, we examine whether government ownership affects non-CEO executives’ horizontal pay dispersion. Second, we examine how such ownership-induced horizontal pay dispersion affects firm performance. We find that non-CEO top executives’ horizontal pay dispersion is lower in government-controlled firms (SOEs) than in privately-controlled firms (non-SOEs). We show that the difference in horizontal pay dispersion between SOEs and non-SOEs is consistent with the institutional differences between the two ownership types. There is evidence that such ownership-induced horizontal pay dispersion is associated with lower firm performance, suggesting that SOEs’ horizontal pay dispersion is suboptimal from the perspective of shareholder value maximization.

August 16, 2023

Direct Evidence on Earnings Used in Executive Compensation Performance Measurement

Abstract

Motivated by competing theories on the properties of earnings required for compensation performance measurement, we provide direct evidence on the properties of actual accounting earnings that are used in determining compensation payouts (Compensation Earnings). Using a large sample of manually collected Compensation Earnings for U.S. firms, we show that firms make economically significant adjustments to GAAP Earnings in arriving at Compensation Earnings. While GAAP Earnings exhibit conservatism, we fail to detect conservatism (either by statistical significance or by magnitude of coefficient) in Compensation Earnings using the same sample and the same research design. The absence of conservatism in Compensation Earnings is also documented in various subsamples partitioned on market-to-book ratio, leverage, firm size, and corporate governance. Further analyses indicate that the adjustment from GAAP Earnings to Compensation Earnings involves the removal of less persistent components of GAAP Earnings, resulting in Compensation Earnings that are more persistent than GAAP Earnings.

August 16, 2023

Do Repatriation Tax Holidays Promote Corporate Social Responsibility? Evidence from the American Jobs Creation Act

Abstract

In response to the temporary tax holiday introduced by the American Jobs Creation Act, U.S. multinational corporations repatriated approximately $300 billion from their foreign subsidiaries to the United States. We find that repatriating firms invest at least a portion of the repatriated funds in corporate social responsibility (CSR) initiatives, as evidenced by increasing CSR performance of the repatriating firms relative to non-repatriating firms during the years after the repatriation. The effect of repatriation on CSR performance is more pronounced for financially unconstrained firms, poorly governed firms, and firms located in states with stronger stakeholder preferences for CSR.

August 16, 2023

Styles of regulators: Evidence from the SEC’s comment letters

Abstract

Security regulations are enforced by SEC staff members. Conceptually, the regulations are to be uniformly enforced despite personal differences among SEC enforcers. We offer evidence to the contrary. Using the SEC’s comment letters as our setting, we find that SEC staff members exhibit unique personal “styles.” The effects of their personal styles on firms’ remediation costs, the contents of SEC comment letters, and the quality of firms’ financial reporting are surprisingly large. We manually collect information on SEC staff members. Our results demonstrate that female staff members are generally tougher reviewers and that CPA qualification matters. Overall, our study offers evidence that SEC staff members exhibit individual differences, and their styles shape firms’ financial reporting.

August 16, 2023

Bankscope in the trial

2014-04-21

Bankscope combines widely-sourced data with flexible software for searching and analysing banks. Bankscope contains comprehensive information on banks across the globe. You can use it to research individual banks and find banks with specific profiles and analyse them. Bankscope has up to 16 years of detailed accounts for each bank. Bankscope recently added the Fitch Bank Credit Model to Bankscope. This is a statistical model that produces a financial implied rating and daily implied CDS spread for over 11,000 banks across the globe. This model helps you evaluate banks that aren’t traditionally assessed by rating agencies and validate and benchmark your own credit opinions.

Language： English

Trial Period： Until Dec 31, 2014

Access: https://bankscope2.bvdep.com/ip (On campus)

More information

August 16, 2023August 16, 2023

Remote Access for Mac

Mac OS X Client Configuration:

Download the Client:

anyconnect-macosx-4.2.01035-web-deploy-k9.dmg

Install Cisco Anyconnect

Find and double-click the Cisco Anyconnect app icon in Finder

Enter “ckvpn.ckgsb.com” in the address bar, and then click ”Connect”

Type in your credentials

Click “OK”

August 16, 2023August 16, 2023

Remote Access for Windows

Windows Client Configuration:

Download the Client:

anyconnect-win-4.2.01035-web-deploy-k9.rar

Unzip and double-click the zip file

Start–Run–Cisco AnyConnect

Enter “ckvpn.ckgsb.com” in the address bar, and then click ”Connect”

Type in your credentials

Click “OK”

August 16, 2023

Hybrid E-commerce Platform: When an Online Retailer Offers Own Delivery Service

Yubo Chen

The imbalanced development of logistics and payment makes it difficult for an online retailer to reduce the uncertainty of online shopping in emerging markets. In response, some online retailers establish a hybrid e-commerce platform in the hope to reduce online shopping uncertainty, and thus to establish customers’ trust in the platform and increase their purchases. Based on two natural experiments arising from JD.com’s initiative of establishing its own delivery service, we examine how the setup of a hybrid e-commerce platform influenced customers’ shopping behaviors between 2009 and 2013. We find that the founding of a hybrid e-commerce platform led customers to increase purchases by 7 to 10 percent at city level. In addition, we find that the sales boosting effect is greater for (1) cities with less mature shipping service, (2) light-buyers, (3) categories with higher uncertainty, and (4) products with fewer discounts. The results are consistent with the interpretation that the establishment of a hybrid e-commerce platform improves shoppers’ trust in the online retailer. Thus, a hybrid platform does more than to speed up the delivery, but more importantly, it helps to build customer trust in the business.

August 16, 2023

Financial Research

Headed by Professor Henry Cao, the CKGSB Center for Financial Research is committed to forward-looking and innovative research in the areas of capital markets, corporate finance, and international finance. Through professional journals and academic discussion, the center seeks to provide analysis, suggestions, and solutions to government organizations, companies, financial practitioners, and ordinary investors. The center also aims to offer ideas and methods to help advance the level of financial services in China and promote the adoption of international standards.

Recent Center for Financial Research seminars:

Seminar Schedule » Brown Bag

Date	Speaker Name	Speaker Affiliation	Field	Topic
2019/5/28	Fenghua Song	Pennsylvania State University	Finance	TBC
2019/5/14	Michael Schwert	The Wharton School, University of Pennsylvania	Finance	The Effects of Transparency on Trading Profits and Price Informativeness: Evidence from Corporate Bonds
2019/5/7	Ye Li	The Ohio State University Fisher College of Business	Finance	Tokenomics: Dynamic Adoption and Valuation
2019/4/23	Xiaomeng Lu	SAIF	Finance	Bubble-Creating Stock Market Attacks: Evidence from China
2019/4/23	Xiaomeng Lu	SAIF	Finance	Bubble-Creating Stock Market Attacks: Evidence from China
2019/4/16	Martin Oehmke	London School of Economics	Finance	The Tragedy of Complexity
2019/4/9	Ryan Israelsen	Broad College of Business, Michigan State University	Finance	Information Consumption and Asset Pricing
2019/3/26	Allaudeen Hameed	NUS	Finance	Option Volume and Anomalies
2019/3/19	Boris Nikolov	University of Lausanne	Finance	The Sources of Financing Constraints
2019/3/5	Grace Hu	University of Hong Kong	Finance	Premium for Heightened Uncertainty: Solving the FOMC Puzzle
2019/2/26	Shaojun Zhang	The Ohio State University	Finance	Limited Risk Sharing and International Equity Returns
2019/1/14	Su Wang	London School of Economics and Political Science	Finance	Young Firm Manager Turnover and Performance
2019/1/11	Siyu Lu	Carnegie Mellon University	Finance	The Efficiency Effects of Information Quality in Failed-Bank Auctions
2019/1/11	Yingguang Zhang	University of Southern California	Finance	Delayed Alpha: The Term Structure of Earnings Expectations and the Cross Section of Stock Returns
2019/1/10	Linghang Zeng	Georgia Institute of Technology	Finance	Impact of Venture Capital Flows on Incumbent Firms: Evidence from 70 Million Workers
2018/12/18	Alexander Michaelides	Imperial College Business School	Finance	Tactical Target Date Funds
2018/12/11	Yuehua Tang	Warrington College of Business University of Florida	Finance	Prime (Information) Brokerage
2018/12/04	Baolian Wang	Warrington College of Business, University of Florida	Finance	Cryptocurrency Pump-and-Dump Schemes
2018/11/27	Neal Stoughton	WU Vienna University of Economics and Business	Finance	Discretionary NAVs
2018/11/20	Wenhao Yang	University of South Carolina, Darla Moore School of Business	Finance	Costly Information Acquisition in Decentralized Markets: Experimental Evidence
2018/11/13	Hongjun Yan	DePaul University	Finance	Global Perspective or Local Knowledge: The Macro-information in the Sovereign CDS Market
2018/11/06	Robert M. Anderson	University of California, Berkeley	Finance	Predicting Portfolio Return Volatility at Medium Horizons
2018/10/23	Bohui Zhang	The Chinese University of Hong Kong	Finance	Temperature and Productivity: Evidence from Plant-level Data
2018/10/16	Tse-Chun Lin	University of Hong Kong	Finance	The Round Number Heuristic and Crowdfunding Performance
2018/09/17	Li Gan	Texas A&M University	Finance	Relocating Migrants or In Situ Migrants: a New Perspective of Urbanization in China
2018/09/04	Yongxiang Wang	Marshall School of Business, University of Southern California	Finance	Target Setting and Allocative Inefficiency in Lending: Evidence from Two Chinese Banks
2018/09/11	Wenyu Wang	Kelley School of Business, Indiana University	Finance	Weak Governance by Informed Active Shareholders
2018-09-04	Yongxiang Wang	Marshall School of Business, University of Southern California	Finance	Target Setting and Allocative Inefficiency in Lending: Evidence from Two Chinese Banks
2018-05-30	Jinhui Bai	School of Economic Sciences, Washington State University	Finance	The Welfare and Distributional Effects of Fiscal Volatility: a Quantitative Evaluation
2018-05-22	Xing Huang	Olin Business School Washington University in St. Louis	Finance	Extrapolative Beliefs in the Cross-Section: What Can We Learn from the Crowds?
2018-05-15	Lei Zhang	The University of Hong Kong	Finance	Complex Asset Markets
2018-05-08	Zhenyu Gao	Chinese University of Hong Kong	Finance	Attention to Global Warming
2018-04-03	Raymond Leung	CKGSB	Finance	An Intrinsic Theory of Information Acquisition: Application to Dynamic Portfolio Choice, Asset Pricing and Information Recovery
2018-03-27	Eliezer M. Fich	LeBow College of Business Drexel University	Finance	Are Market Reactions to M&As Biased by Overextrapolation of Salient News?
2018-03-20	Laurent Fresard	Robert H. Smith School of Business University of Maryland	Finance	Technological Changes and the Evolution of IPO and Acquisition Activities
2018-03-13	Michaela Pagel	Columbia Business School	Finance	Fully Closed: Individual Responses to Realized Capital Gains and Losses
2018-01-25	Ruan Hongxun	The Wharton School, University of Pennsylvania	Finance	Social Capital and Innovation: Evidence from Connected Holdings
2018-01-25	Ye Shuai	Cornell University	Finance	How do ETFs Affect the Liquidity of the Underlying Corporate Bonds?
2018-01-24	Chen Yixin	Massachusetts Institute of Technology (MIT)	Finance	Individual Stock-picking Skills in Active Mutual Funds
2018-01-23	Zhang Teng	Georgia Institute of Technology	Finance	Uniform Mortgage Regulation and Distortion in Capital Allocation
2018-01-23	Li Jie	INSEAD	Finance	An Anatomy of Arbitrageurs: Evidence from Open-End Structured Funds
2018-01-22	Su Yinan	The University of Chicago	Finance	Interbank Runs: A Network Model of Systemic Liquidity Crunches
2018-01-22	Peng Cameron	Yale University	Finance	Price and Volume Dynamics in Bubbles
2017-11-21	Jan Bena	Sauder School of Business, University of British Columbia	Finance	Labor Dismissal Costs and Process Innovation
2017-11-07	Andres Liberman	Stern School of Business New York University	Finance	The Equilibrium Effects of Asymmetric Information: Evidence from Consumer Credit Markets
2017-10-24	Hui Chen	MIT Sloan School of Management	Finance	The Dark Side of Circuit Breakers
2017-09-26	Jia Hao	The Chinese University of Hong Kong	Finance	Liquidity Provision Contracts and Market Quality: Evidence from the New York Stock Exchange
2017-09-19	Mark Westerfield	Foster School of Business University of Washington	Finance	Dynamic Asset Allocation with Hidden Volatility
2017-09-12	Zhangkai Huang	Tsinghua University School of Economics and Management	Finance	Limits to Autocracy: An Analysis of China’s Renationalization
2017-09-12	Xiaoyun Yu	Kelley School of Business Indiana University	Finance	The Power of the Passive Information Intermediary: Evidence from Google’s China Exit
2017-09-05	Hong Ru	Nanyang Technological University	Finance	Rise of Bank Competition: Evidence from Banking Deregulation in China
2017-08-08	Yajun Wang	Robert H. Smith School of Business University of Maryland	Finance	Beliefs Aggregation and Return Predictability
2017-06-20	Lorenzo Garlappi	Sauder School of Business, University of British Columbia	Finance	The Carry Trade and Uncovered Interest Parity when Markets are Incomplete
2017-06-13	Rui Albuquerque	Boston College Carroll School of Management	Finance	Relative Performance, Banker Compensation, and Systemic Risk
2017-06-06	Ron Kaniel	Simon School of Business University of Rochester	Finance	Relative Pay for Non-Relative Performance: Keeping up with the Joneses with Optimal Contracts
2017-05-31	Maria Cecilia Bustamante	Robert H. Smith School of Business University of Maryland	Finance	Does Firm Investment Respond to Peers’ Investment?
2017-05-16	Sheng Huang	Singapore Management University	Finance	Are Longer-tenured Independent Directors Less Effective Monitors? Insights from Insider Trading
2017-04-11	Péter Kondor	London School of Economics	Finance	Financial Choice and Financial Information
2017-03-28	Dirk Jenter	London School of Economics	Finance	Good and Bad CEOs
2017-03-21	Vidhan Goyal	The Hong Kong University of Science and Technology	Finance	Index Membership and Capital Structure: International Evidence
2017-03-14	Xuewen Liu	The Hong Kong University of Science and Technology	Finance	Financial Markets, the Real Economy, and Self-fulfilling Uncertainties
2017-03-07	Xintong Zhan	Erasmus School of Economics Erasmus University Rotterdam	Finance	How Do Smart-beta ETFs Affect Asset Management Industry? Evidence from Mutual Fund Flows
2017-02-13	Mingzhu Tai	Harvard University	Finance	House Prices and the Allocation of Consumer Credit
2017-01-18	Weikai Li	The Hong Kong University of Science and Technology	Finance	Synthetic Shorting with ETFs
2017-01-12	Jun Wu	Kelley School of Business, Indiana University Bloomington	Finance	Do Mutual Funds Have News Trading Skills? Evidence from Daily Trading Ahead of News Releases
2017-01-12	Ting Xu	University of British Columbia, Sauder School of Business	Finance	Learning from the Crowd: The Feedback Value of Crowdfunding
2016-12-20	Xu Tian	University of Toronto	Finance	Uncertainty and the Shadow Banking Crisis: A Structural Estimation
2016-12-13	Jun Yu	School of Economics and Lee Kong Chian School of Business Singapore Management University	Finance	New Methodology for Constructing Real Estate Price Indices Applied to the Singapore Residential Market
2016-12-09	Jun Yu	School of Economics and Lee Kong Chian School of Business Singapore Management University	Finance	Market Sentiment and Paradigm Shifts in Equity Premium Forecasting
2016-11-22	Yufeng Wu	University of Illinois	Finance	Why Are Underperforming Firms Rarely Acquired?
2016-11-01	Shiyang Huang	The University of Hong Kong	Finance	The Effect of Options on Information Acquisition and Asset Pricing
2016-10-25	Nengjiu Ju	SAIF	Finance	Locked Wealth, Subjective Valuation and Managerial Hedging under High-Water Marks: A Structural Model
2016-10-25	Raymond Leung	CKGSB	Finance	Financial Intermediation and the Market Price of Risk: Theory and Evidence
2016-10-11	Tan Wang	SAIF	Finance	Financial Network and Systemic Risk – A Dynamic Model
2016-10-11	Justin Birru	Fisher College of Business The Ohio State University	Finance	Day of the Week and the Cross-Section of Returns
2016-9-13	Howard Kung	London Business School	Finance	Competition, Markups, and Predictable Returns
2016-6-28	Lu Zhang	Max M. Fisher College of Business, The Ohio State University	Finance	A Comparison of New Factor Models
2016-6-21	Hong Liu	Washington University in St. Louis	Finance	A Portfolio Rebalancing Theory of Disposition Effect
2016-6-14	Yi Wen	Federal Reserve Bank of St. Louis	Finance	The Making of An Economic Superpower Unlocking China’s Secret of Rapid Industrialization
2016-5-24	Darrell Duffie	Stanford Graduate School of Business	Finance	Size Discovery
2016-5-24	Murray Frank	Carlson School of Management University of Minnesota	Finance	Rational Stock Market Catering
2016-5-17	Zhenyu Wang	Kelley School of Business, Indiana University	Finance	Dynamics of the Expectation and Risk Premium in the OIS Term Structure
2016-5-17	Xiaoji Lin	Ohio State University	Finance	The Elephant in the Room: the Impact of Labor Obligations on Credit Risk
2016-5-10	Marcin Kacperczyk	Imperial College London Business School	Finance	Chasing Private Information
2016-5-10	Xiaolan Zhang	McCombs School of Business The University of Texas at Austin	Finance	Financing Intangible Capital
2016-4-26	Federico Bandi	Johns Hopkins Carey Business School	Finance	Economic Uncertainty and Predictability
2016-4-7	Sreedhar Bharath	W.P. Carey School of Business Arizona State University	Finance	Ephemeral Experiences, Long Lived Impact : Disasters and Portfolio Choice
2016-4-5	Kathy Yuan	London School of Economics	Finance	Network Risk and Key Players: A Structural Analysis of Interbank Liquidity
2016-3-29	Stefan Zeume	Stephen M. Ross School of Business University of Michigan	Finance	Corporate Tax Havens and Transparency
2016-3-29	Yasushi Hamao	Marshall School of Business University of Southern California	Finance	Selective Disclosure: The Case of Nikkei Preview Articles
2016-3-22	Gennaro Bernile	Singapore Management University Lee Kong Chian School of Business	Finance	Board Diversity, Firm Risk, and Corporate Policies
2016-2-23	Wei Dou	MIT Sloan School of Management	Finance	Embrace or Fear Uncertainty: Growth Options, Limited Risk Sharing, and Asset Prices
2016-2-1	Guojun Chen	Columbia University	Finance	Corporate Savings, Investment, and Financing with Aggregate Uncertainty Shocks
2016-2-1	Wenhao Yang	University of Utah	Finance	Mutual Fund Management: Does Active Management Pay?
2016-1-15	Chengwei Wang	INSEAD	Finance	Lesser-Known Stocks and Signal Cleans
2016-1-14	Zhen Zhou	New York University	Finance	Systemic Bank Panics in Financial Networks
2016-1-14	Zhenduo Du	Northwestern University	Finance	Endogenous Information Acquisition: Evidence from Web Visits to SEC Filings of Insider Trades
2016-1-12	Song Ma	Duke University’s Fuqua School of Business	Finance	The Life Cycle of Corporate Venture Capital
2016-1-12	Raymond C. W. Leung	University of California, Berkeley Haas School of Business	Finance	Centralized versus Decentralized Delegated Portfolio Management under Moral Hazard
2015-12-22	Bo Sun (Brown Bag)	Federal Reserve Board	Finance	Contracting with Feedback
2015-12-22	Lin Cong	Booth School of Business, University Chicago	Finance	Dynamic Coordination and Intervention Policy
2015-12-15	Wenlan Qian	NUS Business School, National University of Singapore	Finance	Unfair Trade Practices and Financial Intermediary Regulation
2015-12-7	Xuemin (Sterling) Yan	Robert J. Trulaske Sr. College of Business University of Missouri	Finance	Fundamental Analysis and the Cross-Section of Stock Returns: A Data-Mining Approach
2015-12-1	Shaojun Zhang	The University of Hong Kong	Finance	Systemic Default and Return Predictability in the Stock and Bond Markets
2015-11-11	Li An	PBC School of Finance, Tsinghua University	Finance	Lottery-Related Anomalies: The Role of Reference-Dependent Preferences
2015-11-3	Zheng Michael Song	Booth School of Business, University of Chicago	Finance	The Rise of China’s Shadow Banking System
2015-11-3	Ming Gu (Brown Bag)	Renmin University of China	Finance	Market Regulation and Private Equity Placements in China
2015-10-27	Cong Wang	CUHK Business School, The Chinese University of Hong Kong	Finance	Labor Unemployment Risk and CEO Incentive Compensation
2015-10-20	Tao Li	City University of Hong Kong	Finance	Does Speculative Activity Have Real Effects?
2015-10-20	Wei Wang	Stephen J.R. Smith School of Business, Queen’s University	Finance	Catch Me If You Can: Financial Misconduct around Corporate Headquarters Relocations
2015-9-29	Brandon Julio	Lundquist College of Business	Finance	The Bright Side of Political Uncertainty: The Case of R&D
2015-7-21	Jennifer Carpenter	Stern School of Business, New York University	Finance	The Real Value of China’s Stock Market
2015-7-7	Kose John	NYU	Finance	Institutions, Markets and Growth: A Theory of Comparative Corporate Governance
2015-7-6	Neng Wang	Columbia Business School	Finance	Investment under Uncertainty and the Value of Real and Financial Flexibility
2015-7-6	Dion Bongaerts	Rotterdam School of Management, Erasmus University	Finance	Cross-sectional Identification of Informed Trading
2015-6-30	Michael Weisbach	The Ohio State University	Finance	Does Uncertainty about Management Affect Firms’ Costs of Borrowing?
2015-6-9	Bing Liang	University of Massachusetts	Finance	The Role of Hedge Funds in the Security Price Formation Process
2015-6-2	Yiming Qian	University of Iowa	Finance	Pre-Market Trading and IPO Pricing
2015-5-26	Stavros Panageas	University of Chicago	Finance	Impediments to Financial Trade: Theory and Measurement
2015-5-19	Zhi Da	University of Notre Dame	Finance	Price Pressure from Coordinated Noise Trading: Evidence from Pension Fund Reallocations
2015-5-19	Feng Zhang	University of Utah	Finance	Overreaction to Merger and Acquisition Announcements
2015-5-12	Ronald Masulis	University of New South Wales	Finance	Deal Initiation in Mergers and Acquisitions
2015-5-12	Adlai Fisher	University of British Columbia	Finance	Levered Noise and the Limits of Arbitrage Pricing: Implications for Dividend S

August 16, 2023

CHEN Yubo

CHEN Yubo is Associate Dean, Professor, and Director of Center for Internet Development and Governance at School of Economics and Management, Tsinghua University. He received his Ph.D. in Marketing from the University of Florida, M.Eng. in Systems Engineering and B.Eng. in Industrial Management Engineering from Southeast University. Before joining Tsinghua SEM., he was a tenured professor at Eller College of Management, University of Arizona, USA. He is a recipient of the National Science Fund for Distinguished Young Scholars from the National Natural Science Foundation of China, and selected for the Top-Notch Young Professionals Program of China. Prof. Chen’s main research areas include 1) big data and business innovation in the networked world; 2) market transformation and business analytics in the mobile internet era; 3) digital transformation of Chinese economy, and 4) climate change and sustainability strategy. Prof. Chen has published many articles in top marketing and business journals such as the Journal of Marketing, the Journal of Marketing Research, Marketing Science, and Management Science, including one article been listed as “Most Cited Papers” at Management Science in the last ten years by ISI. His research has won many international awards and recognitions, including INFORMS Frank M. Bass Best Paper Finalist Award, Journal of Marketing MSI/Paul H. Root Award Finalist, Journal of Marketing Research William F. O’Dell Long-term Impact Award Finalist, Journal of Interactive Marketing Best Paper Award and Emerald Citations of Excellence.

August 16, 2023August 16, 2023