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Zhichuan (Frank) Li

Assistant Professor, Finance

Contact Information

Expertise

  • Mergers & Acquisitions
  • Behavioural Finance
  • Corporate Governance
  • Executive Compensation
  • Empirical Corporate Finance
  • Financial Analysts
  • Corporate board
  • Financial Data and Programming
  • Managerial Incentives
  • Managerial Performance Evaluation
  • Chinese Markets

Impact Article

Research Publications

  • To search for publications by a specific faculty member, select the database and then select the name from the Author drop down menu.

Professor Li received his PhD degree in Finance from W.P. Carey School of Business, Arizona State University, and two masters degrees (MBA: international business/MIS; MS: Computer Science) from University of Missouri at Kansas City.

His work experience includes various analyst and management positions in an international bank, a personal credit company, a small pharmaceutical consulting firm, and a fortune 500 health care corporation.

Professor Li's research interests reside in empirical corporate finance, particularly corporate governance and executive compensation. He has two goals. One is to better understand the subtle but important effects of various governance mechanisms and contract designs on managers and firms within the standard agency framework. The other is to identify and estimate the role of managerial attributes and non-standard preferences in determining organization structure, policy, and performance.

Teaching

  • HBA: Core Finance
  • Masters of Financial Economics: Corporate Finance
  • Masters of Science in Management: Finance
  • PhD: Financial Research

Education

  • PhD in Finance, W.P. Carey School of Business, Arizona State University

Recent Refereed Articles

  • Jiang, W.; Li, Z. F.; Liu, X.; Wu, J.; Yang, C., (Forthcoming), "Clustering of Financial Instruments Using Jump Tail Dependence Coefficient", Statistical Methods & Applications.
  • Li, Z. F.; Dang, C. D., (Forthcoming), "Drivers of Research Impact: Evidence from the Top Three Finance Journals", Accounting and Finance.
  • Coles, J.; Li, Z. F.; Wang, A., (Forthcoming), "Industry Tournament Incentives", Review of Financial Studies.
  • Li, Z. F.; Lin, A.; Sun, S.; Tucker, A., 2018, "Risk-adjusted inside debt", Global Finance Journal, February 35: 12 - 42.
  • Kopecky, K.; Li, Z. F.; Sugrue, T. F.; Tucker, A. L., 2018, "Revisiting M&M with Taxes: An Alternative Equilibrating Process", International Journal of Financial Studies , January 6(1).
  • Dang, C. D.; Li, Z. F.; Yang, C., 2018, "Measuring Firm Size in Empirical Corporate Finance", Journal of Banking & Finance, January 86: 159 - 176.
  • Li, Z. F.; Li, T.; Minor, D., 2016, "A Test of Agency Theory: CEO Power, Firm Value, and Corporate Social Responsibility", International Journal of Managerial Finance, October 12(5): 611 - 628.
  • Hong, B.; Li, Z. F.; Minor, D., 2016, "Corporate Governance and Executive Compensation for Corporate Social Responsibility", Journal of Business Ethics, June 136(1): 199 - 213.
  • Li, Z. F., 2016, "Endogeneity in CEO power: A survey and experiment", Investment Analysts Journal, May 45(3): 149 - 162.
  • Li, Z. F., 2014, "Mutual Monitoring and Corporate Governance", Journal of Banking & Finance, August 45: 255 - 269.

For more publications please see our Research Database

Works in Progress

  • Mutual Monitoring and Agency Problems
  • Managerial Attributes, Incentives, and Performance (with Jeff Coles)
  • An Empirical Assessment of Empirical Corporate Finance (with Jeff Coles)
  • Don’t Cover Me: Analyst Innate Ability and Insider Trading (with Chongyu Dang, Stephen Foerster, and Zhenyang Tang)
  • Drivers of Research Impact: Evidence from the Top Three Finance Journals (with Chongyu Dang)
  • Selection of Peer Firms in Relative Performance Evaluation (RPE) Awards (with John Bizjak, Swaminathan Kalpathy, and Brian Young)
  • Corporate Social Responsibility and CEO Risk-Taking Incentives (with Craig Dunbar and Yaqi Shi)

Honours & Awards

  • The Best Paper Award, Global Finance Association Annual Conference, Fresno, CA 2016
  • The Best Paper Award, World Business Institute Annual Conference, Toronto, Canada 2016
  • Best Doctoral Student Paper Award, Academy Of Behavioral Finance Annual Meeting 2011, UCLA
  • Associate Editor of Journal of Accounting, Finance and Economics (JAFE)
  • Guest Editor, Special Issue on Risk Management and Business Valuation in M&A Transactions, Journal of Management Control
  • Best Doctoral Student Paper Award, Academy of Behavioral Finance Annual Meeting 2011, UCLA
  • Block Grant Fellow, ASU, 2009-2012

Experience

  • Associate Director of Strategic Planning, Cardinal Health, Inc., Overland Park, KS, 2004-2006
  • Senior Project Manager, Beckloff Associates, Inc., Overland Park, KS, 2003-2004
  • Project Manager, Shanghai Credit Information Services Co., Ltd., Shanghai, China, 1999
  • Financial Analyst, Shanghai Pudong Development Bank, Shanghai, China, 1997-1999

Research/Course Development

  • Financial Theory & Research Methods
  • Financial Management
  • Corporate Finance