Prof. Hao ZHANG (張皓)

• BA (English), University of Richmond, USA
• PhD (Finance), Texas A&M University, USA

• Editorial Board Member: Journal of International Accounting, Auditing & Taxation

• Undergraduate Courses
  • Business Intelligence and Big Data Analytics (ISOM1005)

• Graduate Courses
  • Research Methodology in Accounting (ACCT 8011, PhD)
  • Financial Statement Analysis (ACCT7060, MSc)

1. Principle Investigator (2023-2025) “人工智能应用与企业多模态自愿性披露信息的质量验证研究”(AI and Verifying Voluntary Firm-level Disclosures) , RMB 100,000, 2023年度廣東省科学基金面上項目-EF002/FBA-ZH/2023/GDSTC.
2. Principle Investigator (2021-2023) “基于大数据的智能中葡雙语商贸培训平台构建” (A Bilingual Big-data AI Platform for Chinese-Portuguese Business and Financial Information/Knowledge Exchange and Sharing), MOP 308,000 (CP UMAC-2021-02), 澳門高校中葡合作專項資助計劃,澳門特區高等教育基金 (Specialized Subsidy Scheme for Chinese and Portuguese Bilingual Cooperation of Education and Research, FES, Macau SAR).
3. Principle Investigator (20119-2021) “Using AI to Extract Investment-specific Knowledge from Unstructured Multi-modal Online Financial Information” UM Centre for Innovation and Entrepreneurship Incubation Program (澳大创新创业中心孵化创新项目), resulting in UM Tech Limited (澳大创科公司) making a seed investment of MOP 100,000 in Smart Fusion Ltd (智文有限公司), the corporate vehicle founded for this project.
4. Principle Investigator (2015-2019) “On Management Earnings Forecast and Debt Contracting” National Natural Science Foundation of China (NSFC 国家自然科学基金, 面上项目, RMB 620,000)) Research Grant (Project number: 71472162).

• 发明专利(Inventive Patent, joint with S. CHEN, App No. 202111319822.2), 2024: 一种基于TextCNN的主题爬虫方法及系统 (A TextCNN-based Topic Crawling Method & System), granted by CNIPA (China National Intellectual Property Administration, 国家知识产权局) via Smart Fusion Ltd (智文有限公司 ), a a UM incubation company partially owned by UM Tech Limited (澳大创科公司).
• 计算机软件著作权 Registered Software Copyright (with S. Chen, 证书号: 软著登字第7148994号 ), 2021:  基于TextCNN 的URL调度主题爬虫平台, granted by 国家版权局 via Smart Fusion Ltd (智文有限公司), a UM incupation company partialy owned by UM Tech Limited (澳大创科公司).
• 计算机软件著作权 Registered Software Copyright (with S. Chen, 证书号: 软著登字第7148993号 ), 2021:  基于scrapy 的URL财经新闻爬取平台, granted by 国家版权局 via Smart Fusion Ltd (智文有限公司), a UM incupation company partialy owned by UM Tech Limited (澳大创科公司).

• Multi-modal Financial Information Disclosure
• Machine Learning Analysis of Multi-modal Financial Information
• AI and Big Financial Data Analytics
• AI and Large Financial Language Modeling

1. Chen, C, Wei, M. Zhang, H. & Yan J. 2024, ‘Voluntary Forward-looking Disclosure and Default Risk Pricing”, Accounting and Business Research, forthcoming (available online 2024).
2. Chen, C., Kim, J. B., Wei, M., & Zhang, H. 2019, ‘Linguistic Information Quality in Customers’ Forward‐Looking Disclosures and Suppliers’ Investment Decisions’, Contemporary Accounting Research.(FT50), 36 (3) 1751-1783.
3. Kim, J. B., Li, L., Yu, Z., & Zhang, H. 2019 , ‘Local versus Non-local Effects of Chinese Media and Post-Earnings Announcement Drift’, Journal of Banking & Finance., V106, 82-92.
4. Li, L., Srinidhi, B., Yu, Z., & Zhang, H. 2019 , ‘The effects of newly emergent non–state-controlled Chinese firms adapting an established practice from state-owned organizations: evidence of symbolic compliance from a natural experiment’. Asia-Pacific Journal of Accounting & Economics., V16 100181.
5. Kim, J. B., Li, L., & Zhang, H. 2017, ‘Analyst forecast accuracy and media independence. Financial Management’, vol.46, no.4, 1023-1051.
6. Kim, J. B., Yu, Z., & Zhang, H. 2016, ‘Can media exposure improve stock price efficiency in China and why?’, China Journal of Accounting Research, vol. 9, 83-114.
7. Kim, J.B., Li L., Tian G & Zhang, H. 2014, ‘Media ownership and stock price informativeness’, Journal of Banking and Finance, vol. 46, 299-310.
8. Keay, A. & Zhang, H. 2011, ‘An Analysis of Enlightened Shareholder Value in Light of Ex Post Opportunism and Incomplete Law’, European Company and Financial Law Review, vol. 8 445-475.
9. Fraser, D.R. & Zhang, H. 2009, ‘Mergers and Long Term Corporate Performance’, Journal of Money, Credit & Banking, vol. 41, 1503-1513.
10. Keay, A. & Zhang, H. 2008, ‘Incomplete Contracts, Contingent Fiduciaries, and a Director’s Duty to Creditors,’ Melbourne University Law Review, vol.32 (April), 141-170.
11. Adhikari, A., Derashid, C., & Zhang, H 2006, ‘Public Policy, Political Connection, and Effective Tax Rates’, Journal of Accounting & Public Policy, vol. 5, 574-595.

PhD Students

• JiJie YAN “Audio Information in Earnings Conference Calls” (2024 onward, currently PhD student of accounting at University of Macau, Macau).
• Shiqiang CHEN “Multimodal Forward-looking Information and Forecasting Default Risk ” (2021 onward, currently PhD student of accounting at University of Macau, Macau).
• Can CHEN “The Impacts of Corporate Voluntary Disclosure on Their Stakeholders” (PhD, 2016 City University of Hong Kong; currently Assistant Professor of Accounting at University of Macau, Macau).
• Zhichen WANG “Does Bad News Travel Across Firms Through Board Social Network? Evidence from Financial Misreporting and Bank Loan Contracting” (PhD 2016, City University of Hong Kong; currently Assistant Professor of Accounting at Hang Seng University of Hong Kong, Hong Kong).
• Ni LI “The Impact of Controlling Shareholders’ Stock Pledge on Corporate Transparency: evidence from China.” (PhD 2015, City University of Hong Kong/Sun Yet-Sen University; currently Assistant Professor of Accouning at Guangzhou University, Guangzhou).
• Huabin, LI. “Political Connections, Resources Acquisition Ability, and Firm Value of Chinese Real Estate Enterprises” City University of Hong Kong (DBA, City University of Hong Kong 2014; currently Vice President, Gaixon Group Co., Ltd, Hangzhou, China)
• Chek Derashid “Corporate Effective Tax Rate, Industrial Policy Hypothesis and Earnings Management” University of Leeds (PhD 2007; currently Associate Professor of Accounting at Universiti Utara Malaysia).