Zhichuan Frank Li

University of Western Ontario - Ivey School of Business

Assistant Professor of Finance

1151 Richmond Street North

London Ontario, Ontario N6A 3K7

Canada

SCHOLARLY PAPERS

21

DOWNLOADS

6,306

SSRN CITATIONS

38

CROSSREF CITATIONS

25

Ideas:
“  Professor Li received his PhD degree in Finance from W.P. Carey School of Business, Arizona State University, and two masters degrees (MBA: international business/MIS; MS: Computer Science) from University of Missouri at Kansas City. His work experience includes various analyst and management positions in an international bank, a personal credit company, a small pharmaceutical consulting firm, and a fortune 500 health care corporation. Professor Li's research interests reside in empirical corporate finance, particularly corporate governance and executive compensation. He has two goals. One is to better understand the subtle but important effects of various governance mechanisms and contract designs on managers and firms within the standard agency framework. The other is to identify and estimate the role of managerial attributes and non-standard preferences in determining organization structure, policy, and performance.  ”

Scholarly Papers (21)

1.
Downloads 1,208 ( 18,116)
Citation 5

An Empirical Assessment of Empirical Corporate Finance

Number of pages: 111 Posted: 18 Mar 2011 Last Revised: 09 Jun 2019
Jeffrey L. Coles and Zhichuan Frank Li
University of Utah - Department of Finance and University of Western Ontario - Ivey School of Business
Downloads 960 (25,028)
Citation 7

Abstract:

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Empirical corporate finance, Corporate governance, Capital structure, Dividend policy, Executive compensation, Delta, Vega, Corporate control, Antitakeover protections, Mergers and acquisitions, Board of directors, Leverage, Cash balances, Investment policy, Firm focus, R&D, Firm performance

An Empirical Assessment of Empirical Corporate Finance

Number of pages: 111 Posted: 15 Mar 2012 Last Revised: 09 Dec 2016
Zhichuan Frank Li and Jeffrey L. Coles
University of Western Ontario - Ivey School of Business and University of Utah - Department of Finance
Downloads 248 (134,597)
Citation 1

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Empirical corporate finance, Corporate governance, Capital structure, Dividend policy, Executive compensation, Delta, Vega, Corporate control, Antitakeover protections, Mergers and acquisitions, Board of directors, Leverage, Cash balances, Investment policy, Asset composition, Firm focus, R&D

2.

Measuring Firm Size in Empirical Corporate Finance

Journal of Banking and Finance, Forthcoming
Number of pages: 59 Posted: 27 Oct 2013 Last Revised: 28 Aug 2018
Chongyu Dang, Zhichuan Frank Li and Chen Yang
Founder Securities, University of Western Ontario - Ivey School of Business and Wuhan University
Downloads 980 (24,916)
Citation 6

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Firm size, Total assets, Total sales, Market capitalization, Firm size proxy, Firm size measure, Empirical corporate finance

3.

Corporate Governance and Executive Compensation for Corporate Social Responsibility

Journal of Business Ethics, Forthcoming, Harvard Business School Working Paper No. 16-014
Number of pages: 36 Posted: 24 Jan 2015 Last Revised: 13 Feb 2017
Bryan Hong, Zhichuan Frank Li and Dylan Minor
New York University (NYU) - Leonard N. Stern School of Business, University of Western Ontario - Ivey School of Business and Anderson School of Management (UCLA)
Downloads 759 (35,413)
Citation 12

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Corporate governance, Corporate Social Responsibility, Incentives for CSR, Executive compensation, Agency problem, Board independence, Institutional holdings, Managerial power

4.

Industry Tournament Incentives

Review of Financial Studies, Forthcoming
Number of pages: 61 Posted: 15 Mar 2012 Last Revised: 22 Jun 2017
Jeffrey L. Coles, Zhichuan Frank Li and Yan Albert Wang
University of Utah - Department of Finance, University of Western Ontario - Ivey School of Business and Auburn University
Downloads 644 (44,183)
Citation 15

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Industry tournament incentives, CEO incentives, CEO compensation, Firm performance, Firm risk

5.

The Role of Peer Firm Selection and Award Design in Explicit Relative Performance Awards

Number of pages: 77 Posted: 02 Sep 2016 Last Revised: 12 Feb 2020
Texas Christian University, Texas Christian University - M.J. Neeley School of Business, University of Western Ontario - Ivey School of Business and Wake Forest University
Downloads 485 (63,464)
Citation 8

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executive compensation, peer firm selection, relative performance awards, corporate governance

6.

CEO Power, Corporate Social Responsibility, and Firm Value: A Test of Agency Theory

Li, F., Li, T., Minor, D., 2016, A Test of Agency Theory: CEO Power, Firm Value, and Corporate Social Responsibility, International Journal of Managerial Finance, 12 (5): 611-628.
Number of pages: 31 Posted: 01 Jun 2015 Last Revised: 22 Feb 2017
Zhichuan Frank Li, Tao Li and Dylan Minor
University of Western Ontario - Ivey School of Business, University of Western Ontario - Department of Economics and Anderson School of Management (UCLA)
Downloads 483 (63,780)
Citation 4

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7.

Corporate Social Responsibility and CEO Risk-Taking Incentives

Number of pages: 40 Posted: 09 Jan 2019
Craig G. Dunbar, Zhichuan Frank Li and Yaqi Shi
Ivey Business School, Western University, University of Western Ontario - Ivey School of Business and University of Western Ontario - Richard Ivey School of Business
Downloads 388 (83,134)
Citation 13

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Corporate Social Responsibility, CEO Incentives, Vega, Risk Management

8.

CSR-Contingent Executive Compensation Contracts

Journal of Banking and Finance, 2019, Forthcoming
Number of pages: 62 Posted: 21 Aug 2017 Last Revised: 25 Sep 2019
Atif Ikram, Zhichuan Frank Li and Dylan Minor
Arizona State University (ASU) - W.P. Carey School of Business, University of Western Ontario - Ivey School of Business and Anderson School of Management (UCLA)
Downloads 230 (146,074)
Citation 9

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corporate social responsibility, CSR-contingent compensation, executive compensation, corporate governance

9.

Mutual Monitoring and Agency Problems

Number of pages: 40 Posted: 13 Feb 2011 Last Revised: 05 Jun 2019
Zhichuan Frank Li
University of Western Ontario - Ivey School of Business
Downloads 216 (155,085)

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Corporate governance, Mutual monitoring, Authority differential, Pay gap, Agency problem, No. 2 executive, Firm performance

10.

Number Two Executives: Bottom-up Monitoring

Number of pages: 40 Posted: 09 Mar 2014 Last Revised: 07 May 2017
Zhichuan Frank Li
University of Western Ontario - Ivey School of Business
Downloads 161 (200,992)
Citation 9

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Bottom-up monitoring, Corporate governance, Agency problem, Empire building, Quiet life, Sarbanes-Oxley Act

11.

Endogeneity in CEO Power: A Survey and Experiment

Li, F., 2016, Endogeneity in CEO power: A survey and experiment, Investment Analysts Journal 45 (3): 149-162.
Number of pages: 26 Posted: 15 Mar 2011 Last Revised: 22 Feb 2017
Zhichuan Frank Li
University of Western Ontario - Ivey School of Business
Downloads 140 (225,487)
Citation 5

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Endogeneity Problem, CEO Power, Firm Performance, GMM, Fixed Effects, Instrument Variable, Lagged Dependent Variable

12.

A Learning Curve of the Market: Chasing Alpha of Socially Responsible Firms

Journal of Economic Dynamics and Control, 2019 Forthcoming
Number of pages: 37 Posted: 16 Aug 2018 Last Revised: 07 Oct 2019
Zhichuan Frank Li, Dylan Minor, Jun Wang and Chong Yu
University of Western Ontario - Ivey School of Business, Anderson School of Management (UCLA), University of Western Ontario - DAN Department of Management and Organizational Studies and University of Western Ontario - Department of Economics
Downloads 135 (232,189)
Citation 5

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Corporate Social Responsibility, Intangibles, Market Efficiency, Earnings Surprises, Abnormal Returns

13.

The Role of Mutual Funds in Corporate Social Responsibility

Number of pages: 60 Posted: 18 Apr 2019
Zhichuan Frank Li, Saurin Patel and Srikanth Ramani
University of Western Ontario - Ivey School of Business, Ivey Business School, Western University and University of New Brunswick - Saint John
Downloads 111 (268,605)
Citation 3

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Corporate Social Responsibility, Mutual Funds, Socially Responsible Investment, Corporate Governance, Executive Compensation

14.

Risk-Adjusted Inside Debt

Global Finance Journal, Forthcoming
Number of pages: 74 Posted: 30 Oct 2015 Last Revised: 12 Sep 2017
Zhichuan Frank Li, Shannon Lin, Shuna Sun and Alan Tucker
University of Western Ontario - Ivey School of Business, Dalhousie University - Rowe School of Business, Fudan University and Independent
Downloads 74 (347,148)

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Corporate conservatism; inside debt; executive compensation; executive incentives

15.

CEO Social Media Presence and Insider Trading Behavior

Number of pages: 26 Posted: 03 Mar 2020
Zhichuan Frank Li, Claire Y.C. Liang and Zhenyang Tang
University of Western Ontario - Ivey School of Business, University of Maine and Clark University
Downloads 65 (372,239)

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social media, insider trading

16.

CSR-Contingent Executive Compensation Incentive and Earnings Management

Sustainability 2019, 11(12), 3421
Number of pages: 12 Posted: 26 Jun 2019 Last Revised: 25 Sep 2019
Zhichuan Frank Li and Caleb Thibodeau
University of Western Ontario - Ivey School of Business and affiliation not provided to SSRN
Downloads 50 (421,643)

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earnings management, corporate social responsibility, CSR-contingent compensation, CSR contract, executive compensation, discretionary accruals

17.

A Model of Industry Tournament Incentives

Number of pages: 19 Posted: 25 Feb 2020
Jeffrey L. Coles, Zhichuan Frank Li and Yan Albert Wang
University of Utah - Department of Finance, University of Western Ontario - Ivey School of Business and Auburn University
Downloads 49 (425,345)
Citation 1

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tournament incentives, firm performance, risk, and policy; industry tournament incentives, managerial incentives, managerial labor markets, internal labor markets and promotion

18.

Corporate Visibility in Print Media and Corporate Social Responsibility

Sustainability 2018, 10
Number of pages: 18 Posted: 12 Jun 2019
Zhichuan Frank Li, Taylor Morris and Brian Young
University of Western Ontario - Ivey School of Business, affiliation not provided to SSRN and Wake Forest University
Downloads 48 (429,044)

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19.

Drivers of Research Impact: Evidence from the Top Three Finance Journals

Li, F., Dang, C.D., 2018. Drivers of Research Impact: Evidence from the Top Three Finance Journals, Accounting & Finance, Forthcoming
Number of pages: 54 Posted: 25 Feb 2018
Zhichuan Frank Li and Chongyu Dang
University of Western Ontario - Ivey School of Business and Founder Securities
Downloads 41 (456,778)

Abstract:

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Citation analysis, Research impact, Finance journal, Financial research, Impact factor

20.

Revisiting M&M with Taxes: An Alternative Equilibrating Process

Kopecky, K., Z.F. Li, T.F. Sugrue, and A.L. Tucker. 2018. Revisiting M&M with Taxes: An Alternative Equilibrating Process. International Journal of Financial Studies 6(1): 10
Number of pages: 12 Posted: 23 Oct 2017 Last Revised: 17 Jan 2018
Temple University - Department of Finance, University of Western Ontario - Ivey School of Business, Clarkson University and Independent
Downloads 32 (497,478)

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Capital Structure; Debt; Interest Deduction; Equity Price Adjustment

21.

Analyst Talent, Information, and Insider Trading

Number of pages: 43 Posted: 14 Feb 2017 Last Revised: 29 Apr 2020
Founder Securities, University of Western Ontario - Richard Ivey School of Business, University of Western Ontario - Ivey School of Business and Clark University
Downloads 7 (654,918)
Citation 1

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Analyst talent, Information asymmetry, Insider trading, Sell-side financial analyst, Earnings announcements

Other Papers (1)

Total Downloads: 1,226
1.

Managerial Attributes, Incentives, and Performance

Jeffrey L Coles, Zhichuan Frank Li, Managerial Attributes, Incentives, and Performance, The Review of Corporate Finance Studies, https://doi.org/10.1093/rcfs/cfaa004
Number of pages: 66 Posted: 22 Sep 2010 Last Revised: 01 May 2020
Jeffrey L. Coles and Zhichuan Frank Li
University of Utah - Department of Finance and University of Western Ontario - Ivey School of Business
Downloads 1,226 (19,817)

Abstract:

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Executive compensation, Managerial incentives, Managerial ability, Human capital, Risk aversion, Investment policy, Financing policy, Firm fixed effects, Manager fixed effects, Delta, Vega