Professor Xiaoyun Yu

Xiaoyun Yu is a Professor of Finance at the Shanghai Advanced Institute of Finance (SAIF), a research member of the European Corporate Governance Institute (ECGI) and a fellow of the Asian Bureau of Finance and Economic Research (ABFER). Prior to joining SAIF, she was a Professor of Finance and Arthur M. Weimer Faculty Fellow at the Kelley School of Business, Indiana University. Her research interests are in the areas of theoretical and empirical corporate finance, with a focus on information economics, IPOs, financial institutions and systems, and political economy of finance. Her work has been published in leading academic journals and won several research awards. Her research has been featured in various media outlets, including the CNBC, New York Times, the Times, and Wall Street Journal.

Selected Publications

• Gao, Janet, Wenyu Wang, and Xiaoyun Yu (2023), “Big Fish in Small Ponds: Human Capital Mobility and the Rise of Boutique Banks”, Management Science forthcoming.
• Fulmer, Sarah, April Knill, and Xiaoyun Yu (2023), “Negation of Sanctions: The Personal Effect of Political
  Contributions”, Journal of Financial and Quantitative Analysis 58(7) 2783-2819.
• Wang, Kemin, Xiaoyun Yu, and Bohui Zhang (2023), “Panda Games: Corporate Disclosure in the Eclipse of
  Search”, Management Science 69(6), 3263-3284.
• Liao, Guanmin, Mark Ma, and Xiaoyun Yu (2022), “Transporting Transparency: Director Foreign
  Experience and Corporate Information Environment”, Journal of International Business Studies 53, 1343-
  1369.
• Giannetti, Mariassunta, Guanmin Liao, Jiaxing You, and Xiaoyun Yu (2021), “The Externalities of
  Corruption: Evidence from Entrepreneurial Activity in China”, Review of Finance 25(3), 629-667.
• Giannetti, Mariassunta and Xiaoyun Yu (2021). “Adapting to Radical Change: The Benefits of Short-
  Horizon Investors”, Management Science 67(1), 4032-4055.
• Du, Qianqian, Frank Yu, and Xiaoyun Yu (2017), “Cultural Proximity and the Processing of Financial
  Information”, Journal of Financial and Quantitative Analysis 52(6), 2703-2726.
• Tian, Xuan, Gregory Udell, and Xiaoyun Yu (2016), “Disciplining Delegated Monitors: When Venture Capitalists Fail to Prevent Fraud by Their IPO Firms”, Journal of Accounting and Economics, 61(2-3): 526-544.
• Giannetti, Mariassunta and Liao, Guanmin and Yu, Xiaoyun (2015), “The Brain Gain of Corporate Boards: Evidence from China,” Journal of Finance, 70(4): 1629-1682.
• Bhattacharya, Utpal, Alexander Borisov, and Xiaoyun Yu (2015), “Firm Mortality and Natal Financial Care,” Journal of Financial and Quantitative Analysis, 50(1-2): 61-88.
• Chang, Chun, Liao, Guanmin, Yu, Xiaoyun and Ni, Zheng (2014), “Information from Relationship Lending: Evidence from Loan Defaults in China,” Journal of Money, Credit, and Banking, 46(6): 1225-1257.
• Yu, Xiaoyun (2013), “Securities Fraud and Corporate Finance: Recent Developments,” Managerial and Decision Economics, 34(7-8): 439-450.
• Yu, Frank and Xiaoyun Yu (2011), “Corporate Lobbying and Fraud Detection,” Journal of Financial and Quantitative Analysis, 46 (6): 1865-1891.  
• Yu, Xiaoyun (2011), “Market Microstructure” (in Chinese), in D. Ke, H. Li, and S. Lu (eds.), Volume of Finance, Frontiers of Western Research in the Humanities and Social Sciences, Beijing, China: Renda Press.  
• Xu, Dan (Danielle) and Xiaoyun Yu (2011), “IPOs and SEOs” (in Chinese), in D. Ke, H. Li, and S. Lu (eds.), Volume of Finance, Frontiers of Western Research in the Humanities and Social Sciences, Beijing, China: Renda Press. 
• Chang, Chun and Xiaoyun Yu (2010), “Informational Efficiency and Liquidity Premium as the Determinants of Capital Structure,” Journal of Financial and Quantitative Analysis, 45 (2): 401-440. 
• Wang, Tracy, Andrew Winton, and Xiaoyun Yu (2010), “Corporate Fraud and Business Conditions: Evidence from IPOs,” Journal of Finance, 65(6): 2255-2292. 
• Bhattacharya, Utpal, Neal Galpin, Rina Ray, and Xiaoyun Yu (2009), “The Role of the Media in the Internet IPO Bubble,” Journal of Financial and Quantitative Analysis, 44(3): 657-682.
• Bhattacharya, Utpal and Xiaoyun Yu (2008), “The Causes and Consequences of Recent Financial Market Bubbles: An Introduction,” Review of Financial Studies, 21 (1): 3-10.
• Benveniste, Lawrence, Huijing Fu, Paul Seguin, and Xiaoyun Yu (2008), “On the Anticipation of IPO Underpricing: Evidence from Equity Carve-outs”, Journal of Corporate Finance, 14: 614-629.
• Bhattacharya, Utpal, Neal Galpin, Rina Ray and Xiaoyun Yu (2006), “The Role of the Media in the Launch of Internet IPOs,” Betriebswirtschaftliche Forschung und Praxis, 58 (Special Issue on IPOs): 442-456.
• Chang, Chun and Xiaoyun Yu (2004), “Investment Opportunities, Liquidity Premium and Conglomerate Mergers,” Journal of Business, 77: 45-74.