Research

👨‍💻 Data & Code

• (code) Discretionary accruals
• (docs) Download M&A data from SDC
• (code & data) Historical firm HQ location 1969-2022
• (code) Merton distance-to-default (default probability)
• (code) Organization capital
• (code) Specification curve analysis - listed in Harvard Business School Research Computing Services blog. For the Stata command, see my specurve.
• (code) Textual analysis on 8K filings - e.g., Nini, Smith and Sufi (2009). For a full Python CLI application, see my edgar-analyzer.
• (code) Kyle's Lambda
• (code) Variance ratio test - Lo and MacKinlay (1988)

📄 Publications

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

A firm's organization capital has a significant substitution effect on its executive pay-for-performance sensitivity. SSRN

• Outstanding PhD Student Paper Award, 3rd Global PhD Colloquium

Consumer Behaviour and Credit Supply: Evidence from an Australian FinTech Lender, with Henry Leung, Linhui Liu and Buhui Qiu, Finance Research Letters, 2023.

Consumer behaviour affects FinTech lending decisions. SSRN

Other

Closer than ever: Growing business-level connections between Australia and Europe, with Boris Choy, Teresa Davis, Hanyun Ding, Massimo Garbuio, Catherine Hardy, Henry Leung, Thanh Son Luong, Greg Patmore, Sandra Peter, Buhui Qiu, Kai Riemer, John Shields, Catherine Sutton-Brady, Carlos Vazquez-Hernandez, and Eliza Wu, European Management Journal, 2023.

📝 Working Papers

In circulation

"Lone (Loan) Wolf Pack Risk", with Iftekhar Hasan, Buhui Qiu and Eliza Wu.

• WFA 2023, FIRN 2023 (scheduled), FIRN Banking 2022, Curtin University, Massey University, National Central University, University of Essex, University of Sydney.
• SUERF Policy Brief No. 586, Bank of Finland Research Discussion Paper No. 4/2023.

"Anomalous Lending and Bank Risk", with Iftekhar Hasan, Buhui Qiu, Eliza Wu and Yan Yu.

• FIRN 2023 (scheduled), Monash Winter Finance 2023, Machine Learning Methods for Business Workshop 2023, BFBRG Workshop 2022, Deakin University, Loughborough University, University of Queensland, University of Sydney.

"Borrower Technology Similarity and Bank Loan Contracting", with Yunying Huang, Steven Ongena and Eliza Wu.

• EFA 2023 (poster), FMA 2023, 35th AFBC.
• Semifinalist for FMA 2023 Best Paper Awards (winners TBA).

"Corporate Real Estate Holdings and M&As", with Thanh Son Luong and Buhui Qiu.

• FMA 2022, FIRN 2022.

"Catering to Environmental Premium in Green Venture Financing: Evidence from a Bert-Based Deep Learning Approach", with Henry Leung, Tse-Chun Lin and Tracy Thi Vu.

In progress

1. "Liquidity and Price Impact at the 52 Week High", with Joshua Della Vedova, Andrew Grant and Joakim Westerholm.
2. "Differentiated Lending and Bank Risks: Evidence from Global Syndicated Loans", with Hanyun Ding, Buhui Qiu and Eliza Wu.
3. "Climate Exposure from Lending Portfolio and Bank Risk", with Meitong He, Buhui Qiu and Eliza Wu.

🧑‍🎓 Student Supervision

• Meitong He, Honours student at University of Sydney, 2023 (co-supervision with Buhui Qiu).