教育背景
新加坡南洋理工大学金融学博士
香港科技大学经济学硕士
清华大学工程力学学士
研究领域
个人简介
张博辉教授现任香港中文大学（深圳）经管学院执行院长、深圳数据经济研究院副院长、深圳高等金融研究院金融科技与社会金融研究中心主任、深高金讲座教授，曾任澳大利亚新南威尔士大学商学院教授、国际金融中心副主任。张教授于2008年毕业于新加波南洋理工大学获得金融学博士学位，此前分别于2004年在香港科技大学获得经济学硕士学位和2003年在清华大学工程力学系获得工程学学士学位。
张教授开展多个方向的研究，包括金融科技、媒体、 中国资本市场、国际资本市场。他的研究成果多次发表在国际顶尖学术期刊上，包括Review of Financial Studies, Journal of Financial Economics, Journal of Accounting Research, Management Science, Journal of Financial Quantitative and Analysis, Journal of International Business Studies, Review of Finance等。
张教授分别于2016年获得澳大利亚国家社会科学院授予的青年研究学者奖章和在2010年获得新南威尔士大学授予的青年研究学者奖章。他曾主持多项澳大利亚国家研究委员会基金项目、新南威尔士大学澳洲商学院研究基金、和参与中国国家自然科学基金面上项目。他的文章曾在2012和2016 China Finance Annual Meeting, 2014 MIT Asia Conference in Accounting, 2014 Asian Finance Association Conference, 2013 Asia-Pacific Financial Markets of the Korean Securities Association, 2013 Asian Finance Association Conference, 2013 China International Conference in Finance, 2013 Northern Finance Association Conference, 及2011 Chinese Finance Association Best Paper Symposium获得最佳会议论文奖。
张教授曾担任三十多家国际学术期刊 如Journal of Finance, Review of Financial Studies, Journal of Accounting Research, Accounting Review, Management Science的审稿人。他是多个国际金融学术组织年会组委会成员，包括Western Finance Association Conference, Northern Finance Association Conference, European Finance Association Conference, China International Conference in Finance, Financial Management Association Conference, Australasian Finance and Banking Conference，Asian Finance Association Conference。
张教授到目前为止指导了18位博士研究生和教授超过10,000名硕士、学士生。
1. “Nowcasting Firms’ Operating Activities from Satellite Data on Thermal Infrared Radiation” ,with Yuan Xue and Xiaofeng Zhao,,forthcoming ,2025
2. “Unraveling the Dividend Puzzle: A Field Experiment”,with Xiaoqiao Wang, Jing Xie, and Xiaofeng Zhao,,conditionally accepted,2025
3. “Pandemics and Household Cash Withdrawals: Evidence From Transaction Data on Hundreds of Millions of Bank Cards”,with Haohan Ren, Keming Wang, and Fan Zhang,,forthcoming,2025
4. “The Price of Carbon Risk: Evidence from the Kyoto Protocol Ratification”,with Justin Hung Nguyen and Cameron Truong,,130, 103118 ,2025
5. “Earnings Management upon a Sovereign Downgrade” ,with Yupeng Lin and Zilong Zhang,,52, 107324 ,2025
6. “Historical Slave Trade and Corporate Tax Evasion in Africa”,with Geng Niu, Yi Wang, and Yang Zhou,,forthcoming,2025
7. “Political Relations and Media Coverage”,with Jun Myung Song and Thomas Ruf,,171, 107364 ,2025
8. “A Good Sketch is Better than A Long Speech: Evaluate Delinquency Risk through Real-Time Video Analysis”,with Xiangyu Chang, Lili Dai, Lingbing Feng, Jianlei Han, and Jing Shi,,29, 467-500,2025
9. “The Boundaries of Law: Can US Private Enforcement Discipline Foreign Firms?”,with Massimo Massa, Xiaoqiao Wang, and Hong Zhang,,56, 62-83 ,2025
10. “Law and Borders: Entrepreneurs’ Immigration Status and Trade Credit”,with Changqin Luo, Hanwen Sun, and Guochao Yang,,87, 102606 ,2024
11. “Does Express Delivery Run ahead of Stock Price?”,with Jeffery Jinfan Chang and Shijie Yang,,28, 1687-1724,2024
12. “Leveraged Trading and Stock Returns: Evidence from International Stock Markets”,with Zhuo Chen, Pengfei Li, and Zhengwei Wang,,69, 100907 ,2024
13. “Panda Games: Corporate Disclosure in the Eclipse of Search”,with Kemin Wang and Xiaoyun Yu,,69, 3263-3284 ,2023
14. “State Controlling Shareholders and Payout Policy”,with Chen Lin, Hang Liu, and Chenkai Ni,,58, 1943-1972 ,2023
15. “Higher Education and Corporate Innovation” ,with Dongmin Kong and Jian Zhang,,72, 102165,2022
16. “Insider Sales under the Threat of Short Sellers: New Hypothesis and New Tests” ,with Kemin Wang, Rencheng Wang, K. C. John Wei, and Yi Zhou,,97, 427-451 ,2022
17. “Foreign Investment under the Spotlight of Home Media” ,with Wai-Man Liu and Jing Yu,,54, 2197-2234 ,2022
18. “Trust, Incomplete Contracting, and Corporate Innovation”,with Fei Xie and Wenrui Zhang,,68, 3419-3443 ,2022
19. “The More We Know, the Less We Agree: A Test of the Trading Horizon Heterogeneity Theory” ,with Lili Dai, Jerry T. Parwada, and Donald W. Winchester,,57, 45-67,2022
20. “Brain Drain: The Impact of Air Pollution on Firm Performance”,with Shuyu Xue and Xiaofeng Zhao,,110, 102546 ,2021
21. “Stock Market Liberalization and Innovation”,with Fariborz Moshirian, Xuan Tian, and Wenrui Zhang,,139, 985-1014,2021
22. “Does the Media Spotlight Burn or Spur Innovation?”,with Lili Dai and Rui Shen,,vol 26(1), 343-390,2021
23. “The Impact of XBRL Adoption on Local Bias: Evidence from Mandated U.S. Filers”,with Bing Li, Zhenbin Liu, and Wei Qiang,,39, 106767,2020
24. “Global Political Uncertainty and Asset Prices”,with Jonathan Brogaard, Lili Dai, and Phong Ngo,,33, 1737-1780,2020
25. “Is Information Risk Priced? Evidence from Abnormal Idiosyncratic Volatility”,with Yung Chiang Yang and Chu Zhang,,135, 528-554,2020
26. “Googling Investor Sentiment around the World”,with Zhenyu Gao and Haohan Ren,,55, 549-580,2020
27. “Investor Protection and the Value Impact of Stock Liquidity”,with Tao Huang, Fei Wu, and Jing Yu,,51, 72-94,2020
28. “Political Uncertainty and Finance: A Survey” ,with Lili Dai,,48, 307-333,2019
29. “News Media Coverage and Corporate Leverage Adjustments”,with Tung Lam Dang, Viet Anh Dang, Fariborz Moshirian, and Lily Nguyen,,109, 105666,2019
30. “Who Captures the Power of the Pen?”,with Jiaxing You and Le Zhang,,31, 43-96,2018
31. “The Determinants and Pricing of Liquidity Commonality Around the World”,Fariborz Moshirian, Xiaolin Qian, and Claudia Koon Ghee Wee,,33, 22-41,2017
32. “How Do Foreign Institutional Investors Enhance Firm Innovation?”,with Luong Hoang Luong, Fariborz Moshirian, Lily Nguyen, and Xuan Tian,,52, 1449-1490,2017
33. “The Governance Transfer of Blockholders: Evidence from Block Acquisitions and Earnings Management around the World”,with Lili Dai, Ravi Dharwadkar, and Linna Shi,,52, 586-607,2017
34. “Dividend Policy and Earnings Management Across Countries”,with Wen He, Lilian Ng, and Nataliya Zaiats,,42, 267-286,2017
35. “What Drives Investment-Cash Flow Sensitivity Around the World? An asset tangibility Perspective”,with Fariborz Moshirian, Vikram Nanda, and Alexander Vadilyev,,77,1-17;Lead Article,2017
36. “Foreign Investor Heterogeneity and Stock Liquidity Across the World”,with Lilian Ng, Fei Wu, and Jing Yu,,20, 1867-1910,2016
37. “Foreign Institutional Ownership and the Global Convergence of Financial Reporting Practices”,with Vivian Fang and Mark Maffett,,53, 593-631,2015
38. “The Governance Effect of the Media’s News Dissemination Role: Evidence from Insider Trading”,with Lili Dai and Jerry Parwada,,53, 331-366,2015
39. “Political Uncertainty and Dividend Policy: Evidence from International Political Crises”,with Tao Huang, Fei Wu, and Jin Yu,,46, 574-59,2015
40. “The Invisible Hand of Short Selling: Does Short Selling Discipline Earnings Management?”,with Massimo Massa and Hong Zhang,,28, 1701-1736,2015
41. “International Political Risk and Government Bond Pricing”,with Tao Huang, Fei Wu, and Jing Yu,,55, 393-405,2015
42. “Commonality in News Around the World”,with Lam Tung Dang and Fariborz Moshirian,,116, 82-110,2015
43. “Cross Listing and Liquidity Commonality Around the World” ,with Dang Tung Lam, Fariborz Moshirian, and Claudia Wee,,22, 1-26; Lead Article,2015
44. “Investor heterogeneity and commonality in stock return and liquidity” ,with Pan Deng, Jing Shi, and Fei Wu,,39, 458-473,2015
45. “Does PIN Affect Equity Prices Around the World?” Previous title, “Informed Trading around the World”,with Sandy Lai and Lilian Ng,,114, 178-195,2014
46. “Does Auditor Choice Matter to Foreign Investors? Evidence from Foreign Mutual Funds Worldwide”,with Julia Chou and Nataliya Zaiats,,46, 1-20; Lead Article,2014
47. “Systematic Liquidity and the Funding Liquidity Hypothesis”,with Xiaolin Qian and Lewis Tam,,45, 304-320,2014
48. “Large Foreign Ownership and Stock Price Informativeness Around the World”,with Wen He, Donghui Li, and Jianfeng Shen,,36, 211-230,2013
49. “Information Environment and Equity Risk Premium Volatility Around the World”,with Sie Ting Lau and Lilian Ng,,58, 1322-1340,2012
50. “The World Price of Home Bias”,with Sie Ting Lau and Lilian Ng,,97, 191-217; Lead Article,2010
