Lin William Cong

Cornell University - Samuel Curtis Johnson Graduate School of Management

Associate Professor of Finance

Ithaca, NY 14853

United States

http://www.linwilliamcong.com/

SCHOLARLY PAPERS

24

DOWNLOADS
Rank 962

SSRN RANKINGS

Top 962

in Total Papers Downloads

28,553

SSRN CITATIONS
Rank 2,872

SSRN RANKINGS

Top 2,872

in Total Papers Citations

237

CROSSREF CITATIONS

194

Scholarly Papers (24)

1.
Downloads 6,502 ( 1,110)
Citation 76

Blockchain Disruption and Smart Contracts

Number of pages: 48 Posted: 14 Jun 2017 Last Revised: 10 Apr 2020
Lin William Cong and Zhiguo He
Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Chicago - Finance
Downloads 6,470 (1,112)
Citation 54

Abstract:

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Anti-trust, Cryptocurrency, Competition, Decentralization, Distributed Ledger, FinTech, Incomplete Contracts, Collusion, Information, Repeated Games.

Blockchain Disruption and Smart Contracts

NBER Working Paper No. w24399
Number of pages: 52 Posted: 12 Mar 2018
Lin William Cong and Zhiguo He
Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Chicago - Finance
Downloads 32 (521,016)
Citation 15

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2.
Downloads 3,260 ( 3,677)
Citation 21

Tokenomics: Dynamic Adoption and Valuation

Becker Friedman Institute for Research in Economics Working Paper No. 2018-49, Fisher College of Business Working Paper No. 2018-03-015, Charles A. Dice Center Working Paper No. 2018-15, Columbia Business School Research Paper No. 18-62
Number of pages: 76 Posted: 30 Jul 2018 Last Revised: 03 Aug 2020
Lin William Cong, Ye Li and Neng Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Ohio State University and Columbia University
Downloads 3,257 (3,609)
Citation 19

Abstract:

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Blockchain, Carry Cost, Convenience Yield, Cryptocurrency, FinTech, Intertemporal Feedback, Means of Payment, Network Externality, Platform, Token

Tokenomics: Dynamic Adoption and Valuation

NBER Working Paper No. w27222
Number of pages: 67 Posted: 26 May 2020
Lin William Cong, Ye Li and Neng Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Ohio State University and Columbia Business School - Finance and Economics
Downloads 3 (731,131)
Citation 3
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3.

Rise of Factor Investing: Asset Prices, Informational Efficiency, and Security Design

29th Australasian Finance and Banking Conference 2016
Number of pages: 57 Posted: 29 Jun 2016 Last Revised: 17 Apr 2019
Lin William Cong and Douglas Xu
Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Chicago
Downloads 3,083 (4,047)
Citation 17

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Composite Securities, ETFs, Smart Beta, Index-Linked investment, Financial Innovation, Security Design, Informational Efficiency

Credit Allocation under Economic Stimulus: Evidence from China

Chicago Booth Research Paper No. 17-19
Number of pages: 58 Posted: 01 Nov 2016 Last Revised: 05 Jan 2020
Lin William Cong, Haoyu Gao, Jacopo Ponticelli and Xiaoguang Yang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Renmin University of China, Northwestern University - Kellogg School of Management and Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science
Downloads 2,474 (5,765)
Citation 4

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Misallocation, Reallocation, Banking, Growth, Firm Investment, Employment

Credit Allocation Under Economic Stimulus: Evidence from China

Global Poverty Research Lab Working Paper No. 17-108
Number of pages: 58 Posted: 19 Feb 2018 Last Revised: 07 Feb 2020
Lin William Cong, Haoyu Gao, Jacopo Ponticelli and Xiaoguang Yang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Renmin University of China, Northwestern University - Kellogg School of Management and Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science
Downloads 269 (126,686)
Citation 24

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credit, credit allocation, credit expansion, firms, China, capital, growth, recessions

5.
Downloads 2,146 ( 7,455)
Citation 3

Auctions of Real Options

Number of pages: 51 Posted: 26 Aug 2012 Last Revised: 16 Jun 2019
Lin William Cong
Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 1,260 (17,164)
Citation 2

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Auctions; Acquisitions; Oil and Gas; Real Options; Security Design; Timing Games.

Timing of Auctions of Real Options

Number of pages: 44 Posted: 09 Sep 2012 Last Revised: 08 Feb 2019
Lin William Cong
Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 886 (28,913)
Citation 2

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Auctions; Dynamic Game; Initiation; Optimal Stopping; Real Options; Mechanism Design; M\&A

6.
Downloads 991 ( 25,018)
Citation 26

Decentralized Mining in Centralized Pools

George Mason University School of Business Research Paper No. 18-9
Number of pages: 54 Posted: 22 Mar 2018 Last Revised: 10 Dec 2019
Lin William Cong, Zhiguo He and Jiasun Li
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Chicago - Finance and George Mason University - Department of Finance
Downloads 987 (24,743)
Citation 15

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Arms Race, Bitcoin, Blockchain, Energy Consumption, Industrial Organization, Mining Pools, PoW, Risk-Sharing

Decentralized Mining in Centralized Pools

NBER Working Paper No. w25592
Number of pages: 55 Posted: 26 Feb 2019 Last Revised: 12 Apr 2019
Lin William Cong, Zhiguo He and Jiasun Li
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Chicago - Finance and George Mason University - Department of Finance
Downloads 4 (721,995)
Citation 18
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7.

Financial Reporting and Blockchains: Audit Pricing, Misstatements, and Regulation

Number of pages: 57 Posted: 25 Sep 2018 Last Revised: 26 Jun 2019
Sean Cao, Lin William Cong and Baozhong Yang
Georgia State University - J. Mack Robinson College of Business, Cornell University - Samuel Curtis Johnson Graduate School of Management and Georgia State University - Robinson College of Business
Downloads 938 (27,072)
Citation 22

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Auditor Risk and Sampling, Collaborative Auditing, Distributed Ledger Technology, FinTech, PCAOB PCAOB, RegTech, Technology Adoption, Zero-Knowledge Proof.

8.

A Brief Introduction to Blockchain Economics

Number of pages: 41 Posted: 12 Sep 2019 Last Revised: 12 Oct 2020
Long Chen, Lin William Cong and Yizhou Xiao
Luohan Academy, Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 902 (28,637)
Citation 11

Abstract:

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Bitcoin, Blockchain, Distributed Ledger, FinTech

9.

Dynamic Interventions and Informational Linkages

Chicago Booth Research Paper No. 17-09
Number of pages: 95 Posted: 07 Mar 2016 Last Revised: 28 May 2019
Lin William Cong, Steven R. Grenadier and Yunzhi Hu
Cornell University - Samuel Curtis Johnson Graduate School of Management, Stanford Graduate School of Business and University of North Carolina (UNC) at Chapel Hill - Finance Area
Downloads 894 (28,993)
Citation 6

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Coordination Failures, Government Intervention, Information Design, Financial Crisis, Global Games

10.
Downloads 825 ( 32,451)
Citation 11

Information Cascades and Threshold Implementation

University of Chicago, Becker Friedman Institute for Economics Working Paper Forthcoming
Number of pages: 61 Posted: 22 Feb 2018 Last Revised: 28 Feb 2019
Lin William Cong and Yizhou Xiao
Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 754 (36,157)
Citation 1

Abstract:

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All-or-nothing, Capital Markets, Crowd-funding, Dynamic Learning, Entrepreneurship, FinTech Platform, Information Aggregation, Information Cascade.

Information Cascades and Threshold Implementation

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2019-30
Number of pages: 62 Posted: 04 Mar 2019
Lin William Cong and Yizhou Xiao
Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 71 (367,150)
Citation 11

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All-or-nothing, Capital Markets, Crowd-funding, Dynamic Learning, Entrepreneurship, FinTech Platform, Information Aggregation, Information Cascade

11.
Downloads 820 ( 32,730)

Persuasion in Relationship Finance

Number of pages: 49 Posted: 15 Aug 2017 Last Revised: 01 Nov 2019
Ehsan Azarmsa and Lin William Cong
University of Chicago, Booth School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 621 (46,955)

Abstract:

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Bayesian Persuasion, Experimentation, Hold-up, Information Design, Relationship Lending, Security Design, Venture Capital

Persuasion in Relationship Finance

Becker Friedman Institute for Research in Economics Working Paper No. 2017-16
Number of pages: 49 Posted: 11 Oct 2017 Last Revised: 01 Nov 2019
Ehsan Azarmsa and Lin William Cong
University of Chicago, Booth School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 199 (170,502)

Abstract:

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Bayesian Persuasion, Experimentation, Hold-up, Information Design, Relationship Lending, Security Design, Venture Capital

Policy Uncertainty and Innovation: Evidence from IPO Interventions in China

Chicago Booth Research Paper No. 146
Number of pages: 57 Posted: 06 Feb 2017 Last Revised: 05 Oct 2020
Lin William Cong and Sabrina T Howell
Cornell University - Samuel Curtis Johnson Graduate School of Management and New York University (NYU) - Leonard N. Stern School of Business
Downloads 767 (35,285)

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Listing Suspensions, Innovation, Patent, IPO, China, Entrepreneurship

Policy Uncertainty and Innovation: Evidence from IPO Interventions in China

NBER Working Paper No. w24657
Number of pages: 72 Posted: 30 May 2018 Last Revised: 04 Jun 2018
Lin William Cong and Sabrina T Howell
Cornell University - Samuel Curtis Johnson Graduate School of Management and New York University (NYU) - Leonard N. Stern School of Business
Downloads 33 (515,548)

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13.

Single-Step Portfolio Construction through Reinforcement Learning and Economically Interpretable AI

Number of pages: 61 Posted: 20 Apr 2020 Last Revised: 25 Sep 2020
Lin William Cong, Ke Tang, Jingyuan Wang and Yang Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Institute of Economics, School of Social Sciences, Tsinghua University, Beihang University (BUAA) and Beihang University (BUAA)
Downloads 722 (39,095)
Citation 1

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Artificial Intelligence, Distillation, LSTM, Machine Learning, Portfolio Theory, Reinforcement Learning, Textual Analysis.

14.

Textual Factors: A Scalable, Interpretable, and Data-driven Approach to Analyzing Unstructured Information

Number of pages: 65 Posted: 04 Jan 2019 Last Revised: 04 Nov 2019
Lin William Cong, Tengyuan Liang and Xiao Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 690 (41,354)
Citation 6

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Big Data, Factor Models, Machine Learning, Text Analytics, Natural Language Processing,Topic Models, Alternative Data

15.

Price of Value and the Divergence Factor

Number of pages: 46 Posted: 01 Mar 2017 Last Revised: 09 May 2018
Lin William Cong, Nathan George and Guojun Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of California, Berkeley - Fisher Center for Real Estate and Urban Economics and Tongji University
Downloads 563 (53,940)

Abstract:

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Factor models, asset pricing, anomalies, market efficiency, value investing

16.

Persistent Blessings of Luck: Theory and an Application to Venture Capital

Number of pages: 54 Posted: 22 Feb 2017 Last Revised: 12 Oct 2020
Lin William Cong and Yizhou Xiao
Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 560 (54,323)
Citation 3

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Contracting, Deal Flows, Delegated Investment, Entrepreneurial Finance, Managerial Skill, Moral Hazard, Private Equity, Venture Capital

17.

Crypto Wash Trading

Number of pages: 114 Posted: 02 Mar 2020 Last Revised: 15 Oct 2020
Lin William Cong, Xi Li, Ke Tang and Yang Yang
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Newcastle - Newcastle University Business School, Institute of Economics, School of Social Sciences, Tsinghua University and Institute of Economics, School of Social Sciences, Tsinghua University
Downloads 469 (67,862)
Citation 2

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Cryptocurrency, Wash Trading, Forensic Finance, Regulation, Blockchain, FinTech

18.
Downloads 407 ( 80,442)
Citation 5

Token-Based Platform Finance

Fisher College of Business Working Paper No. 2019-03-028, Charles A. Dice Center Working Paper No. 2019-28, Columbia Business School Research Paper Forthcoming
Number of pages: 50 Posted: 29 Oct 2019 Last Revised: 04 Sep 2020
Lin William Cong, Ye Li and Neng Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Ohio State University and Columbia Business School - Finance and Economics
Downloads 403 (80,651)
Citation 7

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Blockchain, Cryptocurrency, Dynamic Corporate Financing, Durable Goods, Gig Economy, Stablecoin, Token/Coin Offering, Optimal Token Supply

Token-Based Platform Finance

NBER Working Paper No. w27810
Number of pages: 50 Posted: 14 Sep 2020
Lin William Cong, Ye Li and Neng Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Ohio State University and Columbia Business School - Finance and Economics
Downloads 4 (721,995)
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19.

Financing Entrepreneurship and Innovation in China: A Public Policy Perspective

Stanford University Graduate School of Business Research Paper No. 18-46
Number of pages: 55 Posted: 25 Sep 2018
Lin William Cong, Charles M.C. Lee, Yuanyu Qu and Tao Shen
Cornell University - Samuel Curtis Johnson Graduate School of Management, Stanford University - Graduate School of Business, University of International Business and Economics (UIBE) - School of Banking and Finance and Tsinghua University
Downloads 387 (85,208)
Citation 2

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20.

Analyzing Textual Information at Scale

Number of pages: 34 Posted: 17 Sep 2019 Last Revised: 09 Dec 2019
Lin William Cong, Tengyuan Liang, Baozhong Yang and Xiao Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Chicago - Booth School of Business, Georgia State University - Robinson College of Business and University of Chicago - Booth School of Business
Downloads 267 (128,350)
Citation 1

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Big Data, Machine Learning, Text-based Analysis, Topic Models, Unstructured Data, Word Embedding

21.

Alternative Data for FinTech and Business Intelligence

Number of pages: 32 Posted: 11 Feb 2020
Lin William Cong, Beibei Li and Tony Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Carnegie Mellon University - H. John Heinz III School of Public Policy and Management and University of Illinois Urbana Champaign
Downloads 250 (137,299)
Citation 1

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Alternative Data, Digital Economy, FinTech, Textual Analysis, Internet-of-Things

22.

Survival Scale: Marketplace Lending and Asymmetric Network Effects

Number of pages: 64 Posted: 04 Oct 2019 Last Revised: 31 Oct 2019
Lin William Cong, Qi Miao, Ke Tang and Danxia Xie
Cornell University - Samuel Curtis Johnson Graduate School of Management, The Nielsen Company, Institute of Economics, School of Social Sciences, Tsinghua University and Tsinghua University - Institute of Economics
Downloads 155 (212,411)
Citation 2

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FinTech; Peer-to-peer Lending; Platforms; Two-sided Markets

23.

Deep Sequence Modeling: Development and Applications in Asset Pricing

Number of pages: 22 Posted: 12 Aug 2020
Lin William Cong, Ke Tang, Jingyuan Wang and Yang Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Institute of Economics, School of Social Sciences, Tsinghua University, Beihang University (BUAA) and Beihang University (BUAA)
Downloads 102 (291,306)

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Artificial Intelligence, Asset Pricing, Machine Learning, Risk Premia, Time Series

24.

Knowledge Accumulation, Privacy, and Growth in a Data Economy

Number of pages: 52 Posted: 15 Oct 2019 Last Revised: 26 Oct 2020
Lin William Cong, Danxia Xie and Longtian Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Tsinghua University - Institute of Economics and Tsinghua University
Downloads 77 (346,913)

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Big Data, Data Ownership, Endogenous Growth, Innovation, Non-rivalry, Privacy Regulation