Mingze Gao

Research & Data


Publication

Organization Capital and Executive Performance Incentives, Journal of Banking & Finance, 2021, with Henry Leung (University of Sydney) and Buhui Qiu (University of Sydney).

"Go for the firm that an idiot can run!" - a firm with high organization capital (OC) does not need as much executive incentive pay.

A tweak to the classic principal-agent model shows that a firm with high OC may reduce executive performance pay given that OC reduces the marginal effect of managerial effort on firm outcome. But since OC adds noise to the signal of managerial effort, higher performance pay may also be required to elicit managerial effort. We empirically show that the former dominates, i.e., OC has a substitution effect on executive performance incentives.

  • The 2020 FMA Annual Meeting (Virtual), October 2020. Discussant: Blake Loriot (Monash University).

  • The 3rd Global PhD Colloquium, April 2019, Fordham University, New York -- Outstanding PhD Student Paper Award. Discussant: Thomas Noe (University of Oxford).

  • The 32nd Annual PhD Conference in Economics and Business, Australian National University, October 2019, Canberra, Australia. Discussant: Xianming Zhou (Australian National University).

Working Papers

  1. "Anomalous Lending and Bank Risk", with Iftekhar Hasan (Fordham University; University of Sydney), Buhui Qiu (University of Sydney), Eliza Wu (University of Sydney) and Yan Yu (University of Cincinnati).
  • The 2022 Business Financing and Banking Research Group Annual Workshop, University of Sydney, November 2022, Sydney, Australia. Discussant: Linda Allen (Baruch College).

  1. "Lone (Loan) Wolf Pack Risk", with Iftekhar Hasan (Fordham University; University of Sydney), Buhui Qiu (University of Sydney) and Eliza Wu (University of Sydney).
  • The 2022 FIRN Banking and Financial Stability Meeting, Australian National University, September 2022, Canberra, Australia. Discussant: Eden Zhang (Monash University).

  1. "Borrower Technology Similarity and Bank Loan Contracting", with Yunying Huang (University of Sydney) and Eliza Wu (University of Sydney).
  • The 35th Australiasian Finance and Banking Conference, December 2022, University of New South Wales, Sydney, Australia. Discussant: Christoph Schneider (University of Münster).

  1. "Corporate Real Estate Holdings and M&As", with Thanh Son Luong (University of Sydney) and Buhui Qiu (University of Sydney).
  • The 2022 FMA Annual Meeting, October 2022, Atlanta, GA. Discussant: Danni Tu (Southern Illinois University).

  • The 2022 FIRN Annual Conference, November 2022, Hamilton Island, Queensland, Australia. Discussant: Thomas To (University of Sydney).

Work in Progress

  1. "Differentiated Lending and Bank Risks: Evidence from Global Syndicated Loans", with Hanyun Ding (University of Sydney), Buhui Qiu (University of Sydney) and Eliza Wu (University of Sydney).

  2. "Catering to Environmental Premium", with Henry Leung (University of Sydney), Tse-Chun Lin (University of Hong Kong) and Tracy Thi Vu (University of Sydney).

Data & Code

misc.

Student Supervision

Reading List

A curated reading list of mine.