Zhiyao Chen

City University of Hong Kong (CityU) - Department of Economics and Finance

83 Tat Chee Avenue

Kowloon

Hong Kong

  • City University of Hong Kong (CityU) - Department of Economics and Finance

SCHOLARLY PAPERS

10

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7,272

TOTAL CITATIONS
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Top 14,978

in Total Papers Citations

98

Scholarly Papers (10)

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1.

Operating Leverage, Profitability and Capital Structure

CICF 2013 Shanghai, China; EFA 2013, Cambridge UK; 24th CFEA (Kenan-Flagler Business School)
Number of pages: 41 Posted: 31 Jan 2013 Last Revised: 22 Oct 2017
Zhiyao Chen, Jarrad Harford and Avraham Kamara
City University of Hong Kong (CityU) - Department of Economics and Finance, University of Washington and University of Washington - Michael G. Foster School of Business
Downloads 2,384 (13,214)
Citation 62

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operating leverage, capital structure, financial leverage, trade-off theory,profitability, default risk

2.

The Debt-Equity Spread *

Number of pages: 62 Posted: 25 Oct 2021 Last Revised: 24 Dec 2024
Hui Chen, Zhiyao Chen and Jun Li
Massachusetts Institute of Technology, City University of Hong Kong (CityU) - Department of Economics and Finance and University of Texas at Dallas
Downloads 1,784 (20,995)
Citation 2

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JEL classification: G13, G31, G32, G33 credit risk, market segmentation, stock and bond return predictions, relative mispricing

3.

A Unified Model of Distress Risk Puzzles

Stanford University Graduate School of Business Research Paper No. 19-9
Number of pages: 91 Posted: 16 Dec 2018 Last Revised: 17 Sep 2022
Zhiyao Chen, Dirk Hackbarth and Ilya A. Strebulaev
City University of Hong Kong (CityU) - Department of Economics and Finance, Boston University - Questrom School of Business and Stanford University - Graduate School of Business
Downloads 743 (73,805)
Citation 2

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financial distress, distress risk premium, failure probability, structural model

4.

Strategic Risk Shifting and the Idiosyncratic Volatility Puzzle

Rock Center for Corporate Governance at Stanford University Working Paper No. 182
Number of pages: 65 Posted: 31 Mar 2014 Last Revised: 29 Feb 2020
Zhiyao Chen, Ilya A. Strebulaev, Yuhang Xing and Xiaoyan Zhang
City University of Hong Kong (CityU) - Department of Economics and Finance, Stanford University - Graduate School of Business, Rice University and Tsinghua University - PBC School of Finance
Downloads 736 (74,695)
Citation 6

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risk-shifting, idiosyncratic volatility puzzle, profitability, agency conflict

5.

Do Nonfinancial Firms Use Financial Assets to Take Risk?

Number of pages: 50 Posted: 08 Dec 2018 Last Revised: 15 Jun 2021
Zhiyao Chen and Ran Duchin
City University of Hong Kong (CityU) - Department of Economics and Finance and Boston College - Carroll School of Management
Downloads 562 (105,270)
Citation 11

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Cash Holdings, Short-term debt, Rollover Risk, Investment Securities, SFAS 157, Fair Value

6.

Maturity Overhang: Evidence from M&A

Boston University Questrom School of Business Research Paper No. 4280419
Number of pages: 55 Posted: 22 Nov 2022 Last Revised: 27 Nov 2023
Zhiyao Chen, Dirk Hackbarth, Jarrad Harford and Yuxin Luo
City University of Hong Kong (CityU) - Department of Economics and Finance, Boston University - Questrom School of Business, University of Washington and Boston University - Questrom School of Business
Downloads 352 (182,427)

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Mergers, Rollover risk, Debt maturity, Cash holding, Leverage

7.

Macroeconomic Risk and Idiosyncratic Risk-Taking

Review of Financial Studies, Forthcoming
Number of pages: 73 Posted: 21 Oct 2017 Last Revised: 26 Apr 2018
Zhiyao Chen and Ilya A. Strebulaev
City University of Hong Kong (CityU) - Department of Economics and Finance and Stanford University - Graduate School of Business
Downloads 334 (193,066)
Citation 8

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risk-shifting, macroeconomic risk, business cycle, agency conflicts, bankruptcy, financial leverage, simulated method of moments, idiosyncratic volatility puzzle

8.

Why Are Bidder Termination Provisions Included In Takeovers?

Journal of Financial and Quantitative Analysis, forthcoming
Number of pages: 47 Posted: 31 Aug 2012 Last Revised: 14 Aug 2020
Zhiyao Chen, Hamed Mahmudi, Aazam Virani and Xiaofei Zhao
City University of Hong Kong (CityU) - Department of Economics and Finance, University of Delaware - Department of Finance, University of Arizona - Department of Finance and Georgetown University - McDonough School of Business
Downloads 221 (294,684)
Citation 4

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Mergers and Acquisitions, Takeovers, Termination Fees

9.

A Simplified Pricing Model for Volatility Futures

Journal of Future Markets, Volume 31, Issue 4, April 2011, Pages 307-339
Number of pages: 39 Posted: 23 May 2019
Brice V. Dupoyet, Robert T. Daigler and Zhiyao Chen
Florida International University - College of Business Administration - Finance, Florida International University (FIU) - Department of Finance and City University of Hong Kong (CityU) - Department of Economics and Finance
Downloads 138 (446,297)
Citation 3

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volatility, VIX futures

10.

Sowing Public Seeds, Reaping Private Blooms: A Q-theoretical Approach to Government Investment

Number of pages: 73 Posted: 16 Apr 2025 Last Revised: 21 Apr 2025
Zhiyao Chen, Ran Duchin and Daniel Kim
City University of Hong Kong (CityU) - Department of Economics and Finance, Boston College - Carroll School of Management and University of Waterloo
Downloads 18 (1,169,040)

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Tobin's Q, government investment, municipal bonds, Government Q