Research

Awards

  • Best Paper Award, 33rd Asian Finance Association Annual Conference, 2021.Ant Financial Group Open Research Peak Initiative Pioneering Award, 2020.
  • Bureau van Dijk prize in Corporate Finance, 31st Australasian Finance and Banking Conference, 2018.
  • Best Paper Award, 31st Asian Finance Association Annual Conference, 2018.
  • Faculty Outstanding Researcher Award, HKU Business School, The University of Hong Kong, 2018.
  • Outstanding Paper Award, 13th International Conference on Asia-Pacific Financial Markets, Seoul, 2018.
  • Best Paper Award (sponsored by Elsevier and Pacific-Basin Finance Journal), Asian
  • Finance Association Annual Meeting, Tokyo, Japan, 2018
  • Outstanding Paper Award, 15th Financial System Engineering and Risk Management Conference, 2017
  • “Corporate Immunity to COVID-19 Pandemic”, Journal of Financial Economics 141, 2021, 802-830.
    - Most Downloaded Article, Journal of Financial Economics, 2021.
    - Most Popular Article, Journal of Financial Economics, 2021.
    - Most Cited Article, Journal of Financial Economics, 2022.

Research Grants

Theme-based Research Scheme (Tenth Round)

Financial Technology, Stability, and Inclusion

Approved Budget: HK$24.444 million

Role of Centre Member: Chen LIN (PC)

Areas of Excellence Scheme (Tenth Round)

Quantitative History of China: Historical Roots of Recent Success and Future Development

Approved Budget: HK$74.8 million

Role of Centre Member: Chen LIN (Co-PI)

2021 National Natural Science Foundation of China (NSFC) Major Program

Research on Antitrust in the Digital Economy

Approved Budget: RMB 12 million

Role of Centre Member: Chen LIN (Co-PI on sub-topic 4)

Publications

2022

An, Jiafu, Wenxuan Hou, and Chen Lin, 2022

Epidemic Disease and Financial Development, Journal of Financial Economics, 143(1), 332-358.

 

Chen, Tao, Yi Huang, Chen Lin, and Zixia Sheng, 2022

Finance and Firm Volatility: Evidence from Small Business Lending in China, Management Science, 68(3), 2226-2249.

 

Ding, Wenzhi, Ross Levine, Chen Lin, and Wensi Xie, 2022

Competition Laws, Ownership, and Corporate Social Responsibility, Journal of International Business Studies, 1-27.

 

Geng, H. Griffin, Yi Huang, Chen Lin, and Sibo Liu, 2022

Minimum Wage and Corporate Investment: Evidence from Manufacturing Firms in China, Journal of Financial and Quantitative Analysis, 57(1), 94-126.

 

Hitzemann, Steffen, Stanislav Sokolinski, and Mingzhu Tai, 2022

Paying for Beta: Leverage Demand and Asset Management Fees, Journal of Financial Economics, 145(1), 105-128.

 

Hou, Kewei, Po-Hsuan Hsu, Shiheng Wang, Akiko Watanabe, and Yan Xu, 2022

Corporate R&D and Stock Returns: International Evidence, Journal of Financial and Quantitative Analysis, 57(4), 1377-1408.

 

Hsu, Po-Hsuan, Mark P. Taylor, Zigan Wang, and Qi Xu, 2022

Currency Volatility and Global Technological Innovation, Journal of International Economics, 137, 103607.

 

Jiang, Liangliang, Ross Levine, Chen Lin and Wensi Xie, 2022

Deposit Supply and Bank Transparency, Management Science, 68(5), 3834-3855.

 

Kong, Dongmin, Chen Lin, Lai Wei, and Jian Zhang, 2022

Information Accessibility and Corporate Innovation, Management Science, forthcoming.

 

Kueck, Jannis, Ye Luo, Martin Spindler, and ZiganWang, 2022

Estimation and Inference of Treatment Effects with L2-boosting in High-dimensional Settings, Journal of Econometrics, forthcoming.

 

Lin, Tse-Chun, and Vesa Pursiainen, 2022

The Disutility of Stock Market Losses: Evidence from Domestic Violence, Review of Financial Studies, forthcoming.

2021

 

Chen, Tao, Chen Lin, and Xiang Shao, 2021

Globalization and U.S. Corporate Tax Policies: Evidence from Import Competition,” Management Science.

 

Chen, Xin, Dan Yang, Yan Xu, Yin Xia, Dong Wang, and Haipeng Shen, 2021

Testing and Support Recovery of Correlation Structures for Matrix-Valued Observations with an Application to Stock Market Data.” Journal of Econometrics, forthcoming.

 

Chordia, Tarun, Tse-Chun Lin, and Vincent Xiang, 2021

Risk-neutral Skewness, Informed Trading, and the Cross-section of Stock Returns.” Journal of Financial and Quantitative Analysis, 56(5), 1713-1737.

 

Ding, Wenzhi, Ross Levine, Chen Lin, and Wensi Xie, 2021

Corporate Immunity to the COVID-19 pandemic,” Journal of Financial Economics, 141(2), 802-830.

 

Gao, Haoyu, Hong Ru, and Dragon Yongjun Tang, 2021

Subnational Debt of China: The Politics-finance Nexus,” Journal of Financial Economics, 141(3), 881-895.

 

Hausman, Jerry, Haoyang Liu, Ye Luo, and Christopher Palmer, 2021

Errors in the Dependent Variable of Quantile Regression Models”, Econometrica, 89(2), 849-873.

 

Heitz, Amanda, Youan Wang, and Zigan Wang, 2021

Corporate Political Connections and Favorable Environmental Regulatory Enforcement.” Management Science, forthcoming.

 

Huang, Shiyang, Tse-Chun Lin, and Hong Xiang, 2021

Psychological Barrier and Cross-firm Return Predictability.” Journal of Financial Economics, 142(1), 338-356.

 

Kong, Dongmin, Chen Lin, Shasha Liu, and Weiqiang Tan, 2021

Whose Money is Smart? Individual and Institutional Investors’ Trades Based on Analyst Recommendations.” Journal of Empirical Finance, 62, 234-251.

 

Levine, Ross, Chen Lin, Mingzhu Tai, and Wensi Xie, 2021

How Did Depositors Respond to COVID-19?” The Review of Financial Studies, 34(11), 5438-5473.

 

Levine, Ross, Chen Lin, and Wensi Xie, 2021

Geographical Diversification and Banks’ Funding Costs,” Management Science, 67(5), 2657-2678.

 

Lin, Chen, Chicheng Ma, Yuchen Sun, and Yuchen Xu, 2021

The Telegraph and Modern Banking Development, 1881-1936,” Journal of Financial Economics, 141(2), 730-749.

 

Lin, Chen, Lai Wei, and Hui Zhao, 2021

How Do Board Reforms Affect Debt Financing Costs Around the World?” Journal of Financial and Quantitative Analysis, forthcoming.

 

Lin, Chen, Sibo Liu, and Gustavo Manso, 2021

Shareholder Litigation and Corporate Innovation,” Management Science, 67(6), 3346-3367.

 

Lin, Chen, Thomas Schmid, and Michael S. Weisbach, 2021

Product Price Risk and Liquidity Management: Evidence from the Electricity Industry,” Management Science, 67(4), 2519-2540.

 

Shan, Chenyu, Dragon Yongjun Tang, Hong Yan, and Xing Zhou, 2021

Credit Default Swaps and Bank Regulatory Capital,” Review of Finance, 25(1), 121-152.

 

Wang, Zigan, Qie Ellie Yin, and Luping Yu, 2021

Real Effects of Share Repurchases Legalization on Corporate Behaviors.” Journal of Financial Economics, 140(1), 197-219.

 

You, Yang, and Kenneth S. Rogoff, 2021

Redeemable Platform Currencies.” Review of Economic Studies, forthcoming.

2020

Chen, Tao, Hui Dong and Chen Lin, 2020

Institutional Shareholders and Corporate Social Responsibility.” Journal of Financial Economics, 135(2), 483-504.

 

Chen, Xuanjuan, Eric Higgins, Han Xia, Hong Zou, 2020

Do Financial Regulations Shape the Functioning of Financial Institutions’ Risk Management in ABS Investment?” Review of Financial Studies, 33(6), 2506-2553.

 

Chordia, Tarun, Tse-Chun Lin, and Vincent Xiang, 2020

Risk-neutral Skewness, Informed Trading, and the Cross-section of Stock Returns.” Journal of Financial and Quantitative Analysis, forthcoming.

 

Geng, H. Griffin, Yi Huang, Chen Lin, and Sibo Liu, 2020

Minimum Wage and Corporate Investment: Evidence from Manufacturing Firms in China,” Journal of Financial and Quantitative Analysis, forthcoming.

 

Levine, Ross, Chen Lin and Beibei Shen, 2020

Cross-border Acquisitions: Do Labor Regulations Affect Acquirer Returns?” Journal of International Business Studies, 51(2), 194-217.

 

Levine, Ross, Chen Lin, Qilin Peng, and Wensi Xie, 2020

Communication within Banking Organizations and Small Business Lending,” The Review of Financial Studies, 33(12), 5750-5783.

 

Levine, Ross, Chen Lin, and Wensi Xie, 2020

The African Slave Trade and Modern Household Finance”, The Economic Journal 140, 1817–1841.

 

Levine, Ross, Chen Lin, and Zigan Wang, 2020

Bank Networks and Acquisitions.” Management Science, 66(11), 5216-5241.

 

Levine, Ross, Chen Lin, and Wensi Xie, 2020

The African Slave Trade and Modern Household Finance,” The Economic Journal, 130(630), 1817–1841.

2019

Chang, Eric C., Tse-Chun Lin, and Xiaorong Ma, 2019

Does Short-selling Threat Discipline Managers in Mergers and Acquisitions Decisions?” Journal of Accounting and Economics, 68(1), 101223.

 

Chava, Sudheer, Rui Wang and Hong Zou, 2019

Covenants, Creditors' Simultaneous Equity Holdings, and Firm Investment Policies.” Journal of Financial and Quantitative Analysis, 54(2), 481-512.

 

Firth, Michael, Chen Lin, Sonia Man-lai Wong, and Xiaofeng Zhao, 2019

Hello, Is Anybody There? Corporate Accessibility for Outside Shareholders as a Signal of Agency Problems.” Review of Accounting Studies 24(4), 1317-1358.

 

Houston, Joel F., Chen Lin, Sibo Liu and Lai Wei, 2019

Litigation Risk and Voluntary Disclosure: Evidence from Legal Changes.” The Accounting Review, 94(5), 247-272.

 

Huang, Shiyang, Yulin Huang and Tse-Chun Lin, 2019

Attention Allocation and Return Co-Movement: Evidence from Repeated Natural Experiments.” Journal of Financial Economics,132(2), 369-383.

 

Kong, Dongming, Chen Lin and Shasha Liu, 2019

Does Information Acquisition Alleviate Market Anomalies? Categorization Bias in Stock Splits.” Review of Finance, 23(1), 245–277.

 

Levine, Ross, Chen Lin and Liangliang Jiang, 2019

Competition and Bank Liquidity Creation.” Journal of Financial and Quantitative Analysis, 54(2), 513-538.

 

Li, Xu Chen Lin and Xintong Zhan, 2019

Does Change in the Information Environment Affect Financing Choices? ” Management Science, 65(12), 5676-5696.

 

Lin, Chen, Lai Wei and Wensi Xie, 2019

Managerial Entrenchment and Information Production.” Journal of Financial and Quantitative Analysis, 1-30.

 

Lin, Chen, Micah S. Officer, Thomas Schmid and Hong Zou, 2019

Is Skin in the Game a Game Changer? Evidence from Mandatory Changes to D&O Insurance Policies.” Journal of Accounting and Economics, 68(1), 101225.

 

Lin, Tse-Chun, Qi Liu and Bo Sun, 2019

Contractual Managerial Incentives with Stock Price Feedback.” American Economic Review, 109(7), 2446-2468.

 

Shan, Chenyu, Dragon Yongjun Tang and Andrew Winton, 2019

Do Banks Still Monitor When There Is a Market for Credit Protection?” Journal of Accounting and Economics, 68(2), 101241.

2018

Bhattacharya, Utpal, Weiyu Kuo, Tse-Chun Lin and Jing Zhao, 2018

Do Superstitious Traders Lose Money? Management Science, 8(8), 3772–3791.

 

Chang, Eric, Tse-Chun Lin, Yan Luo, and Jinjuan Ren, 2018

Ex-day Returns of Stock Distributions: An Anchoring Explanation.” Management Science, 65(3), 1076–1095.

 

Chernozhukov, V., I. Fernandez-val, and Ye Luo, 2018

Sorting Partial Effect beyond Average Effect”, Econometrica.

 

Chen, Tao, and Chen Lin, 2017

Does Information Asymmetry Affect Corporate Tax Aggressiveness”, Journal of Financial and Quantitative Analysis 52, 2017, 1953-2081.

 

Levine, Ross, Chen Lin and Wensi Xie, 2018

Corporate Resilience to Banking Crises: The Roles of Trust and Trade Credit.” Journal of Financial and Quantitative Analysis, 53(4), 1441-1477.

 

Liang, Faming, Bochao Jia, Jingnan Xue, Qizhai Li and Ye Luo, 2018

An Imputation– Regularized Optimization Algorithm for High Dimensional Missing Data Problems and Beyond.” Journal of the Royal Statistical Society: Series B (Statistical Methodology).

80(5), 899-926.

 

Lin, Chen, Micah Officer and Beibei Shen, 2018

Managerial Risk-Taking Incentives and Merger Decisions.” Journal of Financial and Quantitative Analysis, 53(2), 643-680.

 

Lin, Chen, Thomas Schmid and Yunhai Xuan, 2018

Employee Representation and Financial Leverage”, Journal of Financial Economics, 127(2), 303-324.

 

Lin, Tse-Chun and Xin Liu , 2018

Skewness, “Individual Investor Preference, and the Cross-Section of Stock Returns.” Review of Finance, 22(5), 1841–1876.

 

2017

Subrahmanyam, Marti, Dragon Yongjun Tang and Sarah Qian Wang, 2017

Credit Default Swaps, Exacting Creditors, and Corporate Liquidity Management”, Journal of Financial Economics 124, 395-414.

 

Utpal Bhattacharya, Po-Hsuan Hsu, Xuan Tian, Yan Xu, 2017

What Affects Innovation More: Policy or Policy Uncertainty?”, Journal of Financial and Quantitative Analysis 52(5), 1869-1901.