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/

  • Cornell University - Samuel Curtis Johnson Graduate School of Management

SCHOLARLY PAPERS

24

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28,553

SSRN CITATIONS
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Top 2,872

in Total Papers Citations

237

CROSSREF CITATIONS

194

Scholarly Papers (24)

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1.

Blockchain Disruption and Smart Contracts

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

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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.

Tokenomics: Dynamic Adoption and Valuation

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

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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

4.

Credit Allocation under Economic Stimulus: Evidence from China

Downloads 2,743 ( 4,930)
Citation 30

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.

Auctions of Real Options

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.

Decentralized Mining in Centralized Pools

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

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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.

Information Cascades and Threshold Implementation

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

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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.

Persuasion in Relationship Finance

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)

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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)

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

12.

Policy Uncertainty and Innovation: Evidence from IPO Interventions in China

Downloads 800 ( 33,828)

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)

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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.

Token-Based Platform Finance

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