Haoyu Gao

Renmin University of China

Mingde main building

Haidian district, No. 59,

Beijing, Beijing 100872

China

SCHOLARLY PAPERS

25

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8,642

SSRN CITATIONS
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Top 5,510

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296

CROSSREF CITATIONS

24

Scholarly Papers (25)

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: 10 Sep 2021
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 (AMSS)
Downloads 3,422 (6,320)
Citation 6

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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
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 (AMSS)
Downloads 540 (94,366)
Citation 23

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

2.

Subnational Debt of China: The Politics-Finance Nexus

Journal of Financial Economics (JFE), 141.3, 881-895
Number of pages: 60 Posted: 01 Jul 2016 Last Revised: 22 Jul 2021
Haoyu Gao, Hong Ru and Dragon Yongjun Tang
Renmin University of China, Nanyang Business School, Nanyang Technological University and The University of Hong Kong - Faculty of Business and Economics
Downloads 1,155 (34,553)
Citation 9

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Government Debt, Selective Default, Politics-Finance Nexus, Career Concern

3.

The Informational Role of Ownership Networks in Bank Lending

Journal of Financial and Quantitative Analysis, 57.8, 2993-3017
Number of pages: 52 Posted: 17 Jul 2018 Last Revised: 13 Dec 2022
Haoyu Gao, Hong Ru and Xiaoguang Yang
Renmin University of China, Nanyang Business School, Nanyang Technological University and Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science (AMSS)
Downloads 619 (80,374)
Citation 16

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Network, Information, Bank Loan, Screening, Monitoring

4.

Boosted Credit Ratings in China: The Effects of Credit Enhancement on Bond Pricing

Number of pages: 60 Posted: 01 Apr 2020 Last Revised: 05 May 2022
Haoyu Gao, Yuting Huang and Jingyuan Mo
Renmin University of China, Capital University of Economics and Business and New York University
Downloads 516 (101,421)

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credit enhancement, financing costs, credit bonds, China

Rise of Bank Competition: Evidence from Banking Deregulation in China

NBER Working Paper No. w25795
Number of pages: 68 Posted: 07 May 2019 Last Revised: 17 Mar 2023
Renmin University of China, Nanyang Business School, Nanyang Technological University, Massachusetts Institute of Technology (MIT) and Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science (AMSS)
Downloads 91 (518,122)
Citation 2

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Rise of Bank Competition: Evidence from Banking Deregulation in China

Posted: 15 Dec 2017 Last Revised: 25 Dec 2019
Renmin University of China, Nanyang Business School, Nanyang Technological University, Massachusetts Institute of Technology (MIT) and Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science (AMSS)

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Banking Deregulation, Credit Misallocation, Big Data, Growth

6.

The Aftermath of Corporate Default with Chinese Characteristics

Number of pages: 43 Posted: 19 Apr 2017 Last Revised: 12 Nov 2020
University of Hawaii at Manoa - Shidler College of Business, Cornell University, Renmin University of China, Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science (AMSS) and Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science (AMSS)
Downloads 304 (183,833)
Citation 6

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bank loans, corporate default, default resolution, China, state-owned enterprises, government controlled banks

7.

Does Analyst Coverage Affect Corporate ESG Performance? Evidence from China

Number of pages: 41 Posted: 25 Apr 2023
Haoyu Gao, Hui Wang and Huiyu Wen
Renmin University of China, Renmin University of China - School of Finance and Renmin University of China - School of Finance
Downloads 218 (255,952)

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ESG; corporate sustainability; analyst coverage; information asymmetry; firm value

8.

Bond Default Matters in China: Evidence from Illiquidity Premium

Number of pages: 49 Posted: 02 Jun 2022
Renmin University of China, Tsinghua University - School of Social Sciences, Peking University HSBC Business School and School of Finance, Renmin University of China
Downloads 193 (286,092)

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Default events, credit spread, illiquidity premium, flight-to-liquidity

9.

Pricing the Pandemic: Evidence from the Bond Market in China

Number of pages: 33 Posted: 20 Jun 2022 Last Revised: 22 Jun 2022
Haoyu Gao, Yiling Ouyang and Huiyu Wen
Renmin University of China, Renmin University of China - School of Finance and Renmin University of China - School of Finance
Downloads 173 (315,403)
Citation 1

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COVID-19 pandemic, bond financing, credit spreads, default risk, risk perception

10.

Corporate Bond Defaults and Spillover Effects on Bank Risk—Evidence from City Commercial Banks in China

Number of pages: 31 Posted: 19 Sep 2022 Last Revised: 14 Nov 2022
Haoyu Gao, Yaxin Wang and Yiling Ouyang
Renmin University of China, Renmin University of China - School of Finance and Renmin University of China - School of Finance
Downloads 155 (346,300)

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Non-performing loans, Corporate bond defaults, Spillover effects, City commercial banks

11.

Public Data Access and Stock Price Synchronicity: Evidence From China

Number of pages: 39 Posted: 11 Dec 2022 Last Revised: 09 Jan 2023
Haoyu Gao, Jiayue Du and Huiyu Wen
Renmin University of China, Renmin University of China - School of Finance and Renmin University of China - School of Finance
Downloads 147 (361,699)

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Public data access, stock price synchronicity, information infrastructure, information acquisition costs

Does Uncertainty Matter in Stock Liquidity? Evidence from the COVID-19 Pandemic

Number of pages: 54 Posted: 13 Jul 2022
Haoyu Gao and Huiyu Wen
Renmin University of China and Renmin University of China - School of Finance
Downloads 116 (438,905)

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stock liquidity; investor uncertainty; COVID-19 pandemic; stock market

Does Uncertainty Matter in Stock Liquidity? Evidence from the Covid-19 Pandemic

Number of pages: 53 Posted: 01 Feb 2024
Haoyu Gao and Huiyu Wen
Renmin University of China and Renmin University of China - School of Finance
Downloads 26 (911,938)

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stock liquidity, investor uncertainty, COVID-19 pandemic, stock market

13.

How Does Credit Information Sharing Affect Trade Credit? Evidence from China

Number of pages: 37 Posted: 24 Feb 2023
Haoyu Gao, Peixuan Zhao and Huiyu Wen
Renmin University of China, Renmin University of China - School of Finance and Renmin University of China - School of Finance
Downloads 124 (413,033)

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trade credit, public credit registry, financing advantage theory, substitution effect, information sharing

Monetary Stimulus Amidst the Infrastructure Investment Spree: Evidence from China's Loan-Level Data

NBER Working Paper No. w27763
Number of pages: 119 Posted: 31 Aug 2020 Last Revised: 15 May 2023
Emory University - Department of Economics, Renmin University of China, Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 64 (638,456)

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15.

Shell-Shocked Investors: Earthquake Effect on Yield Spreads of Quasi-Municipal Bonds

Number of pages: 56 Posted: 10 May 2023
Renmin University of China, The University of Hong Kong - Faculty of Business and Economics, Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science (AMSS) and University of International Business and Economics (UIBE) - School of Finance
Downloads 110 (451,552)

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devastating earthquake, quasi-municipal bond pricing, salience bias

Pricing Effects of Natural Resource: Evidence from Municipal Corporate Bonds in China

Number of pages: 49 Posted: 01 May 2023
Haoyu Gao, Hongyi Dong and Yujing Wang
Renmin University of China, Renmin University of China - School of Finance and School of Economics and Management, Beihang University
Downloads 70 (607,884)

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Resource-exhausted, Municipal corporate bonds, Implicit guarantees

Pricing Effects of Natural Resource: Evidence from Municipal Corporate Bonds in China

Number of pages: 61 Posted: 26 Oct 2023
Hongyi Dong, Haoyu Gao and Yujing Wang
Renmin University of China - School of Finance, Renmin University of China and School of Economics and Management, Beihang University
Downloads 33 (848,648)

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Resource-exhausted, Municipal corporate bonds, Implicit guarantees

17.

A Cautionary Tale: Cash Externalities of Corporate Bond Defaults

Number of pages: 58 Posted: 28 Sep 2022 Last Revised: 23 Feb 2024
Haoyu Gao, Yiling Ouyang and Dongyang Li
Renmin University of China, Renmin University of China - School of Finance and Central University of Finance and Economics
Downloads 99 (486,357)

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bond defaults; credit externalities; cash holdings; deleveraging

18.

Pricing the Priceless: The Financial Cost of Biodiversity Conservation

Number of pages: 79 Posted: 20 Dec 2023 Last Revised: 15 Apr 2024
Renmin University of China - School of Finance, Renmin University of China - School of Finance, Cornell University - Samuel Curtis Johnson Graduate School of Management, Renmin University of China and Northwestern University - Kellogg School of Management
Downloads 91 (524,458)

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Alternative Data, Biodiversity Transition, Bonds, China, Sustainability

19.

Does High-Speed Rail Boost Local Bank Performance? Evidence from China

Number of pages: 33 Posted: 12 Dec 2022
Huiyu Wen, Yue Zhou, Danni Zhao and Haoyu Gao
Renmin University of China - School of Finance, The University of Sydney, Business School, Discipline of Finance, Students, affiliation not provided to SSRN and Renmin University of China
Downloads 86 (535,685)

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bank performance; city commercial bank; high-speed rail; bank competition; information flows

20.

Pandemic Effect on Corporate Financial Asset Holdings: Precautionary or Return-Chasing?

Research in International Business and Finance, 62(3):101750, 2022
Number of pages: 32 Posted: 13 Jul 2022 Last Revised: 14 Feb 2023
Haoyu Gao, Huiyu Wen and Xingjian Wang
Renmin University of China, Renmin University of China - School of Finance and College of Business Administration, Capital University of Economics and Business
Downloads 60 (653,618)
Citation 4

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Financial asset holdings, COVID-19 pandemic, Precautionary, Return-chasing, Portfolio choice

21.

Bank Funding Costs During the COVID-19 Pandemic: Evidence from China

Number of pages: 39 Posted: 02 Nov 2022
Haoyu Gao, Jinxuan Li and Huiyu Wen
Renmin University of China, Renmin University of China - School of Finance and Renmin University of China - School of Finance
Downloads 53 (687,173)

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bank funding; negotiable certificates of deposit; COVID-19 pandemic; bank risk

22.

Policy Uncertainty and Disappeared Size Effect in China

Number of pages: 37 Posted: 25 Apr 2023
Haoyu Gao and Die Wan
Renmin University of China and Zhejiang Gongshang University (ZJGSU)
Downloads 51 (699,035)

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size effect; small firm premium; uncertainty; China.

23.

The Importance of Speed to Corporate Financial Asset Holdings: Evidence from High-Speed Rail

Number of pages: 38 Posted: 24 Mar 2023
Xiaoying Liu, Yujing Wang, Meng Li and Haoyu Gao
Xiamen University, School of Economics, School of Economics and Management, Beihang University, Beijing Jiaotong University - School of Economics and Management and Renmin University of China
Downloads 49 (711,520)

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high-speed rail; financial asset holdings; precautionary motivation; substitution motivation

24.

Monetary Stimulus Amid the Infrastructure Investment Spree: Evidence from China's Loan-Level Data

FRB Atlanta Working Paper No. 2020-16
Number of pages: 80 Posted: 20 Apr 2021
Emory University - Department of Economics, Renmin University of China, Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 41 (764,776)

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infrastructure investment; monetary policy transmission; fiscal shocks; policy interaction; credit reallocation; LGFVs

25.

Corporate Bond Defaults and Spillover Effects on Bank Risk: Evidence from City Commercial Banks in China

Number of pages: 32 Posted: 23 Nov 2022
Haoyu Gao, Yaxin Wang and Yiling Ouyang
Renmin University of China, Renmin University of China - School of Finance and Renmin University of China - School of Finance
Downloads 36 (801,551)

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Non-performing loans, Corporate bond defaults, Spillover effects, City commercial banks