Associate Professor in Finance
  • Ph.D. in Finance, National University of Singapore, Singapore, 2015
  • M.Phil. in Electrical & Electronic Engineering, University of Hong Kong, Hong Kong, 2009
  • B.E. in Computer Science, University of Science & Technology of China, China, 2007
  • Associate Professor of Finance, Department of Finance and Business Economics, University of Macau (February 2023–)
  • Assistant Professor of Finance, School of Accounting and Finance, The Hong Kong Polytechnic University (July 2015– December 2022)
  • Semifinalist for Best Paper Award – Financial Management Association (FMA) Annual Conference in USA (October 2022)
  • Best Paper Award– Asian Finance Association Annual Conference in Hong Kong (June 2022)
  • Best Paper Award– Conference on Asia-Pacific Financial Markets (CAFM) in South Korea (December 2021)
  • Semifinalist for Best Paper Award– Financial Management Association (FMA) Annual Conference in USA (October 2021)
  • Best Paper Award– Asian-Pacific Conference on International Accounting Issues in Poland (October 2019)
  • Finalist for the Best Paper Award– Financial Management Association (FMA) Asia/Pacific Conference in Vietnam (July 2019)
  • Best Paper Award– Asian Finance Association Annual Conference in South Korea (July 2017)
  • Semifinalist for Best Paper Award– Financial Management Association (FMA) Annual Conference in USA (October 2017)

School of Accounting and Finance at Hong Kong Polytechnic University

Undergraduate Courses

    • Corporate Finance (AF4320), 2015–2021
      • Average teaching evaluation score in 2021: 4.6 / 5
      • Subject coordinator in 2016 and 2018~2021
    • Capstone Projects (AF4912) for final-year undergraduates, 2017–2020

PhD Courses

    • Contemporary Issues in Empirical Finance (AF6306), 2020–2022, Guest Lecturer

Ph.D. thesis supervision (as Co-Supervisor): graduation year and student placement

    • 2021, Zhi Li. Placement: Associate Professor at Southwestern University of Finance and Economics, China
    • 2021, Xiaohui Li. Placement: Research Assistant Professor at Hong Kong Polytechnic University, Hong Kong
    • 2018, David Pecha. Placement: Assistant Professor at University of Southern Denmark, Denmark
  • Repairing reputation via stock repurchase – Evidence around the world, Funded by General Research Fund (GRF) of Hong Kong Research Grants Council, 2022–2024, HKD 412,104 (Principal Investigator)
  • The effect of financial analysts’ recommendations on mutual fund voting – Evidence from proxy contests, Funded by General Research Fund (GRF) of Hong Kong Research Grants Council, 2019–2022, HKD 503,988 (Principal Investigator)
  • Are passive investors also passive voters? Evidence from securities lending by mutual funds, Funded by Early Career Scheme (ECS) of Hong Kong Research Grants Council, 2018–2019, HKD 176,000 (Principal Investigator)
  • Corporate Finance and Governance
  • Behaviour Finance
  • Institutional Investors
  • ESG Investing
  1. Cao, C.F., Cheng, C.S.A., Xia, C.Y., Xie, J.,& Zeng, C. (2023), Corporate Tax Benefits from Hometown-Connected Politicians, The Accounting Review, [UTD24, FT50, ABS4*].https://doi.org/10.2308/TAR-2020-0162
  2. Cheng, C.S.A., Li, X.H., Sun Z.Y. & Xie, J.,(2023), How does Dividend Payout Affect Corporate Social Responsibility? A Channel Analysis, Journal of Financial Stability, [ABS3]. https://doi.org/10.1016/j.jfs.2023.101165
  3. Chemmanur, T., Yao, S., & Xie, J.(2023), Innovation beyond Firm Boundaries: Strategic Alliances, and Corporate Innovation, Journal of Corporate Finance, 80, 102418 [ABS4]. https://doi.org/10.1016/j.jcorpfin.2023.102418
  4. Cheng, C.S.A., Li, X.H.,Xie, J., & Zhong Y.X. (2023), Accounting Conservatism and Common Ownership by Dedicated Institutional Blockholders. Journal of Business Finance & Accounting, [ABS3]. https://doi.org/10.1111/jbfa.12681
  5. Cheng, C.S.A., Xie, J.,& Zhong Y.X. (2023), Common Institutional Blockholders and Tail Risk, Journal of Banking & Finance, 148, 106723 [ABS3]. https://doi.org/10.1016/j.jbankfin.2022.106723
  6. Allen, F., Qian, M.J., & Xie, J.(2022), Implicit Benefit and Financing, Journal of Financial Intermediation, 52, 101000 [ABS4]. https://doi.org/10.1016/j.jfi.2022.101000
  7. Chen, X.Q., Cheng, C.S.A., Xie, J., & Yang Y. (2022), Private Communication and Management Forecasts: Evidence from Corporate Site Visit, Corporate Governance: An International Review,30(4), 482-497 [ABS3]. https://doi.org/10.1111/corg.12419
  8. Chemmanur, T., Hu, G., Li, Y.Z., & Xie, J.(2021), Institutional Trading, Information Production, and Forced CEO Turnovers, Journal of Corporate Finance, 67, 101884 [ABS4]. https://doi.org/10.1016/j.jcorpfin.2021.101884
  9. Hameed, A. & Xie, J.(2019), Preference for Dividends and Return Comovement, Journal of Financial Economics 132 (1), 103-125 [UTD24, FT50, ABS4*]. https://doi.org/10.1016/j.jfineco.2018.09.012
  10. Allen, F., Qian, M.J., & Xie, J.(2019), Understanding Informal Financing, Journal of Financial Intermediation 39, 19-33 [ABS4]. https://doi.org/10.1016/j.jfi.2018.06.004
  11. Hu, G., Jo, K.M, Wang, Y., & Xie, J.(2018), Institutional Trading and Abel Noser Data, Journal of Corporate Finance 52, 143-167 [ABS4]. https://doi.org/10.1016/j.jcorpfin.2018.08.005
  1. Allen, F., Qian, M.J., & Xie, J. (2022), Informal Financing of Entrepreneurs, In D. Lingelbach (Ed.), De Gruyter Handbook of Entrepreneurial Finance.
  1. “Preference for Dividends and Stock Returns around the World”, with Allaudeen Hameed and Yuxiang Zhong, 2022. Presented at 2022 FMA conference
  2. “Does ESG Negative Screening Work?” with Robert Eccles and Shiva Rajgopal. Featured in Harvard Law School Forum on Corporate Governance, Institutional Investor, and Wealth Professional in August of 2022. Presented at 2022 Conference on Asia-Pacific Financial Markets
  3. “ESG Investing and Stock Return Comovements” with Marcin Kacperczyk and Peng Lin. Presented at 2022 Conference on CSR, the Economy and Financial Markets, 2023 CFRI&CIRF Joint Conference, 2023 FMA conference (scheduled)”
  4. “Market Feedback Effect on CEO Pay: Evidence from Peers’ Say-on-Pay Voting Failures”, with C.S. Agnes Cheng, Iftekhar Hasan, Feng Tang. Featured in Columbia Law School’s Blue Sky Blog in December 2022. Presented at 2019 EAA, 2020 CAAA, and 2022 FMA
  5. “The Effect of Compensation Benchmarking – Evidence from Share Repurchases”, with Yuyuan Chang, David Reeb, and Yao Shen. Presented at CUNY, HK Baptist Univ., HK PolyU, University of Technology Sydney, 2022 AsianFA Conference (Best Paper Award), 2022 FMA conference
  6. “Unraveling the Dividend Puzzle: A Field Experiment”, with Xiaoqiao Wang, Bohui Zhang, and Xiaofeng Zhao. Presented at CUHK (Shen Zhen), 2022 AsianFA Conference, 2022 JIAR Conference, 2022 FMA(Asia) Conference
  7. Keeping up with the Joneses: Corporate Dividends and Common Institutional Blockholders”, with Thomas Chemmanur (BC) and Zeyu Sun (CUEB). Presented at 2022 FMA conference (Semi-finalist for Best Paper Award)
  8. “The Geography of Institutional Investors, Information Sharing among Institutions, and Initial Public Offerings”, with Thomas Chemmanur, Jiekun Huang, and Yuyuan Zhu. Presented at 2017 FIRS, 2017 FMA Conference, 2019 Greater Bay Conference
  9. “The Effect of Institutional Investor Distraction on Analyst Forecasts”, with Zhi Li. Presented at 2022 CICF, 2022 AsianFA Conference, HK PolyU
  10. “Are Passive Investors also Passive Voters? Evidence from Securities Lending by Mutual Funds”. Presented at 2021 FMA (US) conference (Semi-finalist for Best Paper Award), 2021 Conference on Asia-Pacific Financial Markets (CAFM) (Best Paper Award)
2022 FMA (Asia) Conference *, World Finance Conference*,
Conference on Asia-Pacific Financial Markets,
Conference on CSR, the Economy and Financial Markets*,
FMA (US) conference, China International Conference in Finance*,
AsianFA conference (track chair of the paper selection committee),
The Ninth International Conference of the JIAR,
University of Technology Sydney, CUHK (Shen Zhen)*
2021 FMA (US), Conference on Asia-Pacific Financial Markets (CAFM),
CICF (presenter and discussant), MIT Asia conference*,
Hong Kong Baptist University, Baruch College (CUNY)*
2020 Baruch College (CUNY)*, CAFM*,
American Accounting Association Annual Meeting*, FMA (US) Conference*, Canadian Academic Accounting Association (CAAA) Annual Conference*
2019 Greater Bay Area Conference, Lingnan University*
Asian-Pacific Conference on International Accounting Issues*,
FMA European Conference*, FMA Asia/Pacific Conference,
Annual Congress of European Accounting Association (EAA)*,
2018 Asian Finance Association Conference,
Asian Bureau for Finance and Economics Research (ABFER) Annual Conference
2017 American Accounting Association Annual Meeting,
American Economic Association Annual Meeting,
Asian Finance Association Conference,
China International Conference in Finance (CICF),
Financial Intermediation Research Society (FIRS) Conference*,
Financial Management Association (FMA) Conference*,
UT Arlington, University of Massachusetts Lowell
2016 Financial Intermediation Research Society (FIRS) Conference*,
American Accounting Association Annual Meeting*,
Asian Finance Association Conference, University of Connecticut*
Financial Management Association (FMA) Conference*,
Conference on Asia-Pacific Financial Markets (CAFM)*,
2015 European Finance Association (EFA) Conference*, Tsinghua PBC,
Hong Kong Polytechnic University, Hong Kong Joint Finance Research Workshop, Asian Finance Association Conference, NUS, HKU*, CUHK*, Aalto*,
Lancaster*, China International Conference in Finance (CICF)*,
Joint CAFR and JAAF Conference (Session chair& Discussant)
2014 27th Annual Australasian Finance and Banking Conference (AFBC),
Financial Management Association (FMA) Conference, NUS
2013 CICF*, Southern Economic Association Conference*
Asian Bureau for Finance and Economics Research (ABFER) Conference*
  • Member of The American Finance Association, The Financial Management Association
  • Management Science, Journal of Corporate Finance,
  • Journal of Banking & Finance, Journal of Empirical Finance, Journal of Financial Markets,
  • Journal of Business Finance & Accounting, Review of Quantitative Finance and Accounting,
  • International Review of Finance, Journal of Contemporary Accounting & Economics,
  • Journal of Economics and Business, China Accounting and Finance Review