Hao Liang

Singapore Management University - Lee Kong Chian School of Business

Assistant Professor of Finance

469 Bukit Timah Road

Singapore 912409

Singapore

http://business.smu.edu.sg/faculty/profile/130396/LIANG-Hao

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

SCHOLARLY PAPERS

29

DOWNLOADS
Rank 1,434

SSRN RANKINGS

Top 1,434

in Total Papers Downloads

28,891

SSRN CITATIONS
Rank 3,481

SSRN RANKINGS

Top 3,481

in Total Papers Citations

351

CROSSREF CITATIONS

35

Scholarly Papers (29)

1.

Corporate Social Responsibility and Sustainable Finance: A Review of the Literature

European Corporate Governance Institute – Finance Working Paper No. 701/2020, This paper will appear in the Oxford Research Encyclopedia of Economics and Finance.
Number of pages: 43 Posted: 24 Sep 2020 Last Revised: 28 Sep 2020
Hao Liang and Luc Renneboog
Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 4,664 (2,797)
Citation 2

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Environmental, Social, and Governance, CSR, ESG, SRI, Socially Responsible Investments, Impact investing, Externalities, Stakeholders, Stakeholder governance, Climate change, Decarbonization, Global warming, Green bonds

2.
Downloads 4,105 ( 3,466)
Citation 75

Socially Responsible Firms

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 432/2014
Number of pages: 69 Posted: 12 Jul 2014 Last Revised: 05 Aug 2016
Allen Ferrell, Hao Liang and Luc Renneboog
Harvard Law School, Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 3,858 (3,781)
Citation 61

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Corporate social responsibility, agency costs, corporate governance

Socially Responsible Firms

CentER Discussion Paper Series No. 2014-043, TILEC Discussion Paper No. 2014-029
Number of pages: 43 Posted: 30 Jul 2014 Last Revised: 12 Aug 2014
Allen Ferrell, Hao Liang and Luc Renneboog
Harvard Law School, Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 247 (173,777)
Citation 3

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corporate social responsibility, agency problems, value enhancement, corporate

3.
Downloads 3,163 ( 5,415)
Citation 45

On the Foundations of Corporate Social Responsibility

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 394/2013
Number of pages: 59 Posted: 30 Nov 2013 Last Revised: 05 Aug 2016
Hao Liang and Luc Renneboog
Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 2,776 (6,593)
Citation 48

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Corporate social responsibility, legal origins, stakeholder orientation, firm value

The Foundations of Corporate Social Responsibility

CentER Discussion Paper Series No. 2013-071
Number of pages: 51 Posted: 04 Dec 2013 Last Revised: 08 Apr 2014
Hao Liang and Luc Renneboog
Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 217 (196,280)

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corporate social responsibility, sustainability, legal origins, political institutions, shareholder orientation, stakeholder orientation

The Foundations of Corporate Social Responsibility

TILEC Discussion Paper No. 2013-023, CentER Discussion Paper Series No. 2013-071
Number of pages: 51 Posted: 23 Dec 2013 Last Revised: 27 Mar 2014
Hao Liang and Luc Renneboog
Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 170 (244,236)
Citation 1

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Corporate social responsibility, sustainability, legal origins, political institutions

Future-Time Framing: The Effect of Language on Corporate Future Orientation

Harvard Business School Organizational Behavior Unit Working Paper No. 14-082 , European Corporate Governance Institute (ECGI) - Finance Working Paper No. 412/2014
Number of pages: 43 Posted: 05 Mar 2014 Last Revised: 29 May 2018
Singapore Management University - Lee Kong Chian School of Business, Cornell University, Tilburg University - Department of Finance and affiliation not provided to SSRN
Downloads 2,447 (8,013)
Citation 4

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Language, International Business, Organizational Cognition, Future-Time Framing, Corporate Future Orientation, Corporate Culture

Speaking of Corporate Social Responsibility

TILEC Discussion Paper No. 2014-018, CentER Discussion Paper Series No. 2014-023
Number of pages: 43 Posted: 20 Mar 2014 Last Revised: 01 May 2014
Singapore Management University - Lee Kong Chian School of Business, Cornell University, Tilburg University - Department of Finance and affiliation not provided to SSRN
Downloads 304 (140,163)
Citation 4

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Language, Future-Time-Reference, Categories, Culture, Corporate Social Responsibility, Sustainability

5.
Downloads 2,124 ( 13,554)
Citation 2

Peer Effects of Corporate Social Responsibility

Management Science, Vol. 65, 2019
Number of pages: 57 Posted: 23 Jul 2015 Last Revised: 24 Jul 2020
Jie Cao, Hao Liang and Xintong Zhan
The Hong Kong Polytechnic University - School of Accounting and Finance, Singapore Management University - Lee Kong Chian School of Business and Department of Finance, School of Management, Fudan University
Downloads 1,788 (13,326)
Citation 2

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Corporate social responsibility; peer effects; product markets; shareholder proposal; regression discontinuity

Peer Effects of Corporate Social Responsibility

Accepted by Management Science, Forthcoming
Number of pages: 57 Posted: 31 Aug 2016 Last Revised: 23 Jul 2020
Jie Cao, Hao Liang and Xintong Zhan
The Hong Kong Polytechnic University - School of Accounting and Finance, Singapore Management University - Lee Kong Chian School of Business and Department of Finance, School of Management, Fudan University
Downloads 336 (110,069)
Citation 13

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Corporate social responsibility, peer effects, shareholder proposal, regression discontinuity design

6.

Responsible Hedge Funds

Review of Finance, forthcoming
Number of pages: 62 Posted: 23 Jun 2020 Last Revised: 02 May 2022
Hao Liang, Lin Sun and Melvyn Teo
Singapore Management University - Lee Kong Chian School of Business, Fudan University and Singapore Management University - Lee Kong Chian School of Business
Downloads 1,326 (21,358)
Citation 3

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Principles for Responsible Investment, Greenwash, Hedge Funds, Walk the Talk, Agency Problems, Operational Risk, ESG, Stewardship

7.

Socially Responsible Corporate Customers

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 560/2018, Journal of Financial Economics (JFE), Forthcoming
Number of pages: 74 Posted: 27 Jan 2018 Last Revised: 14 Mar 2020
Rui Dai, Hao Liang and Lilian Ng
Wharton Research Data Services (WRDS), Singapore Management University - Lee Kong Chian School of Business and Schulich School of Business, York University
Downloads 1,111 (27,752)
Citation 12

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Corporate Social Responsibility, Corporate Customers, Global Supply Chains, Economic Benefits

8.

Outsourcing Climate Change

European Corporate Governance Institute – Finance Working Paper No. 723/2021
Number of pages: 60 Posted: 13 Jan 2021 Last Revised: 28 Jan 2022
Rui Dai, Rui Duan, Hao Liang and Lilian Ng
Wharton Research Data Services (WRDS), York University - Schulich School of Business, Singapore Management University - Lee Kong Chian School of Business and Schulich School of Business, York University
Downloads 1,110 (27,787)

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Outsourcing Emissions, Imports, Stakeholders, Reputational Risk, Green Technologies, Carbon Premium

9.
Downloads 857 ( 40,033)
Citation 7

Corporate Donations and Shareholder Value

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 491/2016
Number of pages: 53 Posted: 23 Dec 2016
Hao Liang and Luc Renneboog
Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 744 (47,748)
Citation 9

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Corporate social responsibility, corporate philanthropy, charitable donations, political donations, corporate foundation, corporate governance, firm value

Corporate Donations and Shareholder Value

CentER Discussion Paper Series No. 2017-013
Number of pages: 48 Posted: 15 Mar 2017
Hao Liang and Luc Renneboog
Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 113 (336,344)
Citation 2

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corporate social responsibility, corporate philanthropy, charitable donations, political donations, corporate foundation, corporate governance, firm value

10.

Leviathan Inc. and Corporate Environmental Engagement

Darden Business School Working Paper No. 2960832, ECGI - Finance Working Paper No. 526/2017
Number of pages: 84 Posted: 01 May 2017 Last Revised: 11 Jan 2021
Po-Hsuan Hsu, Hao Liang and Pedro Matos
National Tsing Hua University - Department of Quantitative Finance, Singapore Management University - Lee Kong Chian School of Business and University of Virginia - Darden School of Business
Downloads 819 (42,588)
Citation 1

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state ownership, environmental engagement, sustainability, ownership structure

11.

Chinese Multinationals' Outward Foreign Direct Investment: An Institutional Perspective and the Role of the State

4th China Goes Global Conference, Harvard University
Number of pages: 36 Posted: 15 Nov 2010 Last Revised: 15 May 2014
Bing Ren, Hao Liang and Ying Zheng
Nankai School of Business, Singapore Management University - Lee Kong Chian School of Business and affiliation not provided to SSRN
Downloads 769 (46,257)
Citation 3

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outward foreign direct investment, state-centric economic development approach, the role of state, formal and informal institutions

12.

The Global Sustainability Footprint of Sovereign Wealth Funds

European Corporate Governance Institute – Finance Working Paper No. 647/2019
Number of pages: 55 Posted: 10 Jan 2020 Last Revised: 20 Jan 2020
Hao Liang and Luc Renneboog
Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 760 (47,030)
Citation 3

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sovereign wealth funds, institutional ownership, corporate social responsibility, socially responsible investments, sustainability, shareholder engagement, ESG, environmental policy, social policy, corporate governance, exogeneous shock

13.
Downloads 751 ( 47,786)
Citation 2

Corporate Employee-Engagement and Merger Outcomes

CentER Discussion Paper Series No. 2017-011
Number of pages: 58 Posted: 14 Mar 2017 Last Revised: 26 May 2017
Singapore Management University - Lee Kong Chian School of Business, Tilburg University - Department of Finance and UNSW Australia Business School, School of Banking and Finance
Downloads 362 (116,029)

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employee-engagement, labor protection, monetary incentives, mergers and acquisitions (M&As)

Cross-Border Acquisitions and Employee-Engagement

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 496/2017
Number of pages: 61 Posted: 03 Mar 2017 Last Revised: 01 Aug 2017
Singapore Management University - Lee Kong Chian School of Business, Tilburg University - Department of Finance and UNSW Australia Business School, School of Banking and Finance
Downloads 312 (136,277)

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employee-engagement, labor protection, monetary incentives, cross-border mergers and acquisitions (M&As)

Cross-Border Acquisitions and Employee-Engagement

CentER Discussion Paper Series No. 2017-038
Number of pages: 57 Posted: 22 Sep 2017
Singapore Management University - Lee Kong Chian School of Business, Tilburg University - Department of Finance and UNSW Australia Business School, School of Banking and Finance
Downloads 77 (430,054)
Citation 2

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Employee-Engagement, Labor Protection, Monetary Incentives, Cross-Border Mergers

14.

Finance and Social Responsibility in the Informal Economy: Institutional Voids, Globalization and Microfinance Institutions

Harvard Business School Organizational Behavior Unit Working Paper No. 15-029
Number of pages: 42 Posted: 21 Oct 2014
Singapore Management University - Lee Kong Chian School of Business, Cornell University and affiliation not provided to SSRN
Downloads 622 (61,095)
Citation 1

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Institutional voids, microfinance institutions, economic globalization, social globalization

15.

The Information Implication of Merger and Acquisition Announcements: Evidence from the U.S. And China

19th International Trade and Finance Association International Conference (Second Best Student Paper Award)
Number of pages: 29 Posted: 09 May 2010 Last Revised: 06 Jun 2010
Hao Liang
Singapore Management University - Lee Kong Chian School of Business
Downloads 535 (73,914)

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merger and acquisition announcement, event study methodology, abnormal returns, efficient market hypothesis, agency problem

16.

Revisiting the OLI Paradigm: The Institutions, the State, and China's OFDI

CESifo Working Paper Series No. 3642
Number of pages: 34 Posted: 23 Nov 2011
Hao Liang, Bing Ren and Haikun Zhu
Singapore Management University - Lee Kong Chian School of Business, Nankai School of Business and Erasmus University Rotterdam
Downloads 516 (77,288)

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outward foreign direct investment, institutions, state-stewardship view, OLI paradigm

17.

Universal Corporate Governance

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 585/2018
Number of pages: 59 Posted: 17 Dec 2018 Last Revised: 13 Feb 2019
Mikael Homanen and Hao Liang
City University London - The Business School and Singapore Management University - Lee Kong Chian School of Business
Downloads 417 (99,399)
Citation 7

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corporate governance, entrenchment index, institutional ownership, institutional environment, contingency

18.

Finance and Society: On the Foundations of Corporate Social Responsibility

CentER Discussion Paper No. 2014-069, TILEC Discussion Paper No. 2014-052
Number of pages: 55 Posted: 19 Dec 2014
Hao Liang and Luc Renneboog
Singapore Management University - Lee Kong Chian School of Business and Tilburg University - Department of Finance
Downloads 399 (104,663)
Citation 6

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Corporate social responsibility, sustainability, legal origins, stakeholder orientation, shareholder value.

19.

A Neural Basis of Herd Behavior in Stock Market: An Experimental Design

Number of pages: 16 Posted: 15 Feb 2011
Hao Liang
Singapore Management University - Lee Kong Chian School of Business
Downloads 382 (110,024)
Citation 1

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herd behavior, neuroeconomics, anterior insula, medial prefrontal cortex

20.

Revisiting the OLI Paradigm: The Institutions, the State, and China’s OFDI

CESifo Working Paper series
Number of pages: 25 Posted: 12 Jul 2011 Last Revised: 13 Jun 2022
Haikun Zhu, Hao Liang and Bing Ren
Erasmus University Rotterdam, Singapore Management University - Lee Kong Chian School of Business and Nankai School of Business
Downloads 361 (117,210)

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OFDI, Role of the State, OLI Paradigm, Institutional Analysis

21.
Downloads 296 (144,789)
Citation 1

Finance and Ideology: The Firm-level Channels

European Corporate Governance Institute – Finance Working Paper No. 642/2019
Number of pages: 68 Posted: 05 Dec 2019 Last Revised: 06 Jul 2022
Hao Liang, Rong Wang and Haikun Zhu
Singapore Management University - Lee Kong Chian School of Business, Singapore Management University and Erasmus University Rotterdam
Downloads 226 (188,648)
Citation 1

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Ideology, Politician, Corporate Policy, China

Growing up Under Mao and Deng: On the Ideological Determinants of Corporate Policies

BOFIT Discussion Paper No. 20/2020
Number of pages: 57 Posted: 17 Sep 2020
Hao Liang, Rong Wang and Haikun Zhu
Singapore Management University - Lee Kong Chian School of Business, Singapore Management University and Erasmus University Rotterdam
Downloads 70 (453,540)

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Bofit-kokoelma; Kiina

22.

A State-Stewardship View on Executive Compensation

ECGI - Finance Working Paper No. #374
Number of pages: 55 Posted: 01 Aug 2013
Hao Liang, Luc Renneboog and Sunny Li Sun
Singapore Management University - Lee Kong Chian School of Business, Tilburg University - Department of Finance and affiliation not provided to SSRN
Downloads 247 (173,659)

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state-stewardship view, agency theory, executive compensation, political connections

23.

Delegated Gender Diversity

European Corporate Governance Institute – Finance Working Paper No. 814/2022
Number of pages: 60 Posted: 07 Feb 2022
Hao Liang and Cara Vansteenkiste
Singapore Management University - Lee Kong Chian School of Business and UNSW Australia Business School, School of Banking and Finance
Downloads 226 (189,014)

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board gender diversity, institutional investors, investor demand, sustainable investing

24.

Culture and Firms

European Corporate Governance Institute – Finance Working Paper No. 822/2022
Number of pages: 73 Posted: 22 Apr 2022
Gu Zhihui, Hao Liang and Hanyu Zhang
Nankai University - Business School, Singapore Management University - Lee Kong Chian School of Business and Singapore Management University.
Downloads 179 (233,432)

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Culture, Corporate behavior, Confucianism, Firm Value

25.

Morphing: The Linkage of Inward Private Equity and Outward Ventures

Thunderbird International Business Review, 2013, Forthcoming, Presented in 2nd Copenhagen Conference on Emerging Multinationals(Copenhagen Business School), LSE Alternative Investment Research Conference (London), 2010, Asian Finance Association Online Workshop on "VC/PE in the Asia Pacific Region"
Number of pages: 35 Posted: 03 Oct 2010 Last Revised: 12 Mar 2013
Sunny Li Sun and Hao Liang
affiliation not provided to SSRN and Singapore Management University - Lee Kong Chian School of Business
Downloads 163 (252,705)
Citation 1

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Private equity, Internationalization, Linkage strategy, organizational form

26.

Disaster Relief, Inc.

European Corporate Governance Institute – Finance Working Paper No. 709/2020
Number of pages: 76 Posted: 09 Nov 2020 Last Revised: 14 Nov 2020
Hao Liang and Cara Vansteenkiste
Singapore Management University - Lee Kong Chian School of Business and UNSW Australia Business School, School of Banking and Finance
Downloads 136 (292,156)

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Natural disasters, corporate philanthropy, shareholder value, strategic benefits, agency costs

27.

Business Ethics Issues in Finance: Challenges and Recommendations

Number of pages: 10 Posted: 13 Jun 2022
Omrane Guedhami, Hao Liang and Greg Shailer
University of South Carolina - Moore School of Business, Singapore Management University - Lee Kong Chian School of Business and ANU College of Business and Economics
Downloads 72 (441,102)

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Finance, Business Ethics

28.

The Political Determinants of Executive Compensation: Evidence from an Emerging Economy

Emerging Markets Review, Vol. 25, 2015, 69-91
Number of pages: 40 Posted: 16 Nov 2020
Hao Liang, Luc Renneboog and Sunny Li Sun
Singapore Management University - Lee Kong Chian School of Business, Tilburg University - Department of Finance and affiliation not provided to SSRN
Downloads 28 (643,938)

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Executive compensation, political economy, state ownership, market friction

29.

Eradicating Malaria: Innovation Diffusion in the Face of Grand Challenges

Number of pages: 37 Posted: 25 Jul 2022
Han Jiang, Hao Liang and Yang Dongning
Guanghua School of Management, Peking University, Singapore Management University - Lee Kong Chian School of Business and Peking University - Guanghua School of Management
Downloads 2 (878,965)

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Organizational Innovation, Innovation Diffusion, Grand Challenge, Malaria, Africa