Huasheng GAO (高华声)                               updated February 2017

Associate Professor of Finance

 

Office: S3-B1A-06

Tel: (65) 6790-4653

Email: hsgao@ntu.edu.sg

Address: S3-B1A-06, 50 Nanyang Avenue, Singapore, 639798

Vita      中文简历    Google Scholar Citation  

 

Professional Employment Record

·         September 2015 - present  Associate Professor of Finance (with tenure), Nanyang Technological University

·         July 2009 – August 2015  Assistant Professor of Finance, Nanyang Technological University

 

Education

·         2009       Ph.D. in Finance, University of British Columbia

·         2006       MSc. in Finance, University of British Columbia

·         2003       B.S. in Computer Science, Shanghai Jiao Tong University

 

Journal Articles

 

14.  “Employment Non-Discrimination Acts and Corporate Innovation,” with Wei Zhang, Management Science forthcoming.  (PDF)

13.  The Even-Odd Nature of Audit Committees and Corporate Earnings Quality,” with Jun Huang, Journal of Accounting, Auditing and Finance forthcoming. (PDF)

12.  CEO Turnover-Performance Sensitivities in Private Firms,” with Jarrad Harford and Kai Li, Journal of Financial and Quantitative Analysis forthcoming. (PDF)

11.  Ownership Transition, Managerial Short-termism, and Exploratory vs Exploitative Innovation Strategy,” with Guoli Chen, Po-Hsuan Hsu, and Kai Li, Proceedings of the 2016 Academy of Management Meeting. (PDF)

10.   “Sex Discrimination and Female Top Managers: Evidence from China,” with Yaheng Lin and Yujing Ma, Journal of Business Ethics 138 (2016), 683-702. (PDF)

9.      “Non-Discrimination Laws Make U.S. States More Innovative,” with Wei Zhang, Harvard Business Review August 2016. (PDF) (Web link)

8.      “A Comparison of CEO Pay-Performance Sensitivity in Privately-held and Public Firms,with Kai Li, Journal of Corporate Finance 35 (2015), 370-388. (PDF)

§  Winner of the Best Paper Award the 2011China International Conference in Finance

 

7.       “Effects of Managerial Labor Market on Executive Compensation: Evidence from Job-hopping,” with Juan Luo and Tilan Tang, Journal of Accounting and Economics 59 (2015), 203-220. (PDF)

§ Winner of the Best Paper Award at 2013 Eastern Finance Association meeting.

6.      Determinants of Corporate Cash Policy: Insights from Private Firms,with Jarrad Harford and Kai Li, Journal of Financial Economics 109 (2013), 623-639. (PDF)

5.      Nonmonetary Benefits, Quality of Life, and Executive Compensation, with Xin Deng, Journal of Financial and Quantitative Analysis 48 (2013), 197-218. (PDF)

§  Winner of the Best Paper Award at PhD Forum of the 23rd Australasian Finance and Banking Conference

 

4.      “The Relative-Age Effect and Career Success: Evidence from Corporate CEOs,” with Qianqian Du and Maurice Levi, Economics Letters 117 (2012), 660-662. (PDF)

3.      CEO Pay Cuts and Forced Turnover: Their Causes and Consequences,with Jarrad Harford and Kai Li, Journal of Corporate Finance 18 (2012), 291-310. (PDF)

§  Winner of the Best Paper Award the 4th International Conference on Asia-Pacific Financial Markets

 

2.      Optimal Compensation Contracts When Managers Can Hedge,Journal of Financial Economics 97 (2010), 218-238. (PDF)

1.      Market Misvaluation, Managerial Horizon, and Acquisitions,Financial Management 39 (2010), 833-850. (PDF)

 

Keynote Speech

·         The 2016 Annual International Conference on Accounting and Finance, Singapore (PDF)

·         The 2016 China Finance Review International Conference, Shanghai, China (PDF)

 

Academic Awards

·         The 2016 Credit Mutuel Nord Europe Best PhD Paper Prize

·         Best Paper Award at the 2014 China Finance and Accounting Conference

·         Best Paper Award at the 2013 Eastern Finance Association Annual Conference

·         Best Paper Award at the 2011 China International Conference in Finance

·         Nanyang Business School Research Excellence Awards, 2011, 2013

·         Best Paper Award at PhD Forum of the 23rd Australasian Finance and Banking Conference, 2010

·         Best Paper Award at the 4th International Conference on Asia-Pacific Financial Markets, 2009

·         WFA PhD Student Travel Awards, 2008

 

Papers under Review

              

·         “Human Capital Driven Acquisition: Evidence from the Inevitable Disclosure Doctrine,” with Yujing Ma. (PDF)

§  Winner of the Credit Mutuel Nord Europe Best PhD Paper Prize 

§  Revise and Resubmit at Review of Financial Studies

·         “Stakeholder Orientation and the Cost of Debt: Evidence from a Natural Experiment,” with Kai Li and Yujing Ma. (PDF)

·         “The Real Effect of Smoking Bans: Evidence from Corporate Innovation,” with Po-Hsuan Hsu, Kai Li, and Jin Zhang. (PDF)

·         “Can Online Annual General Meetings Increase Shareholders’ Participation in Corporate Governance? Evidence from China,” with Jun Huang. (PDF)

·         “Board Structure and Role of Outside Directors in Private Firms,” with Zhongda He and Jun-Koo Kang. (PDF)

·         “The Real Effects of SOX Section 404: Evidence from Corporate Innovation,” with Jin Zhang. (PDF)

·         “The Effects of Low-skilled Migration on Corporate Innovation: Evidence from a Natural Experiment in China,” with Deqiu Chen and Jiang Luo. (PDF)

  

Selected Media Mentions

·         CCTV-4中文国际频道《远方的家》一带一路 知名学府在南洋 (央视网) YouTube

·         Neither Rigged Nor Fair, The Economist, June 25, 2016 (Gao, Luo, and Tang (2015)) (PDF)

·         The Morning Risk Report: Why Firms Overpay Executives, The Wall Street Journal, March 23, 2015. (Gao, Luo, and Tang (2015)) (PDF)

·         Do women really hold up half the sky in Chinese firms?  China Business Knowledge (中国经商智慧), October 11, 2013. (Gao, Lin, and Ma (2015)).  (PDF)

·         Determinants of Corporate Cash Policy, Harvard Law School Forum on Corporate Governance and Financial Regulation, July 7, 2013. (Gao, Harford, and Li (2013)) (PDF)

·         Social Science Palooza III, The New York Times, December 10, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         Summer babies do less well at work, The British Psychological Society, November 14, 2012(Du, Gao, and Levi (2012)) (PDF)

·         Born on the fourth of July? You probably won’t be CEO, The Wall Street Journal, October 30, 2102 (Du, Gao, and Levi (2012)) (PDF)

·         If you want successful children put off kindergarten for one year, Consumer Affairs, October 29, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         Babies born in summer less likely to be CEOs, Hindustan Times, October 26, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         Best and worst months to be born if you want to be the boss, Time, October 26, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         Why waiting to start kindergarten might be a good idea, Businessnews Daily, October 24, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         Summer babies less likely to be CEOs, China Daily, October 24, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         The eighth habit of highly effective people? Avoiding summer birthdays, National Geographic, October 23, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         Summer babies less likely to become CEOs, Medical Daily, October 23, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         Babies born in late fall face disadvantage making it to the CEO’s job, study reveals, Vancouver Sun, October 23, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         Want to be a CEO? Watch when you’re born, The Globe and Mail, October 23, 2012 (Du, Gao, and Levi (2012)) (PDF)

·         Is your board odd enough? Philanthropy Journal, July 20, 2012 (Deng, Gao, and Liu (2012)) (PDF)

·         Can CEO pay cuts generate stronger company performance? WorldatWork Post, July 20, 2012 (Gao, Harford, and Li (2012)) (PDF)

·         Places of worship, not financial institutions, Today, June 21, 2010 (PDF)

·         Optional deterrence: Are big fines the best way to fight stock option backdating? Canadian Business, January 27, 2009 (PDF)

·         Why great CEOs are born in July? Maclean’s, August 6, 2008 (Du, Gao, and Levi (2012)) (PDF)