Research Interests

– M&As
– Corporate finance
– Behavioral finance


PhD in Finance, WHU Otto Beisheim School of Management (since 09.2014)
Visiting Scholar, Stern Business School New York University, 2016
MSc. in Management, Finance Track, ESSEC Business School, 2014
Visiting Student, Booth School of Business University of Chicago, 2013
B.A. Economics, East China University of Science and Technology, 2011


1. She is Mine: Determinants and Value Effects of Early Announcements in TakeoversJournal of Corporate Finance, 2018 (with Nihat Aktas and Burcin Yurtoglu)

Working Papers

2. Friends at WSJ: Journalist Connections, News Tone, and Stock Returns 
3. Are Market Reactions to M&As Biased by Overextrapolation of Salient News? with Eliezer M. Fich (Drexel University)
4. What Drives the Takeover Process? New Evidence from the Inner Workings of Internal M&A Teams with Nihat Aktas, Audra Boone, Alexander Witkowski, and Burcin Yurtoglu (WHU and Texas Christian University)
5. Foreign Bribery and Takeovers: International Evidence
6. Irreversible Investment under Uncertainty: Do Firm Boundaries Matter? with Johnson Mo (NYU)

Presentations and Discussions

2019 (scheduled): ASSA Atlanta, MFA Chicago*
2018: EFA Doctoral Tutorial (Warsaw), Helsinki Finance Summit (Helsinki), Humboldt University (Berlin)*, Erasmus University School of Economics (Rotterdam)*, Frankfurt School of Finance (Frankfurt)*, International Conference of French Finance Association (Paris), Research in Behavioral Finance Conference (Amsterdam), Paris December Finance Meeting (Paris)
2017: Paris December Finance Meeting (Paris)*, ESSEC Business School (Paris)*, Université Lille II (Lille)*, International Conference of French Finance Association (Valence)
2016: WHU (Vallendar), NYU Stern (New York), FMA Doctoral Student Consortium (Helsinki), Spring Meeting of Young Economists (Lisbon), International Conference of French Finance Association (Liege), Conference on Empirical Legal Studies (Amsterdam), Workshop on Corporate Governance and Investment (Istanbul)
2015: Causal Inference Workshop, Northwestern University (Chicago), WHU (Vallendar)

* Invited seminars or discussions


Co-instructor in Advanced Corporate Finance, Master in Finance, Fall 2015, 2017, 2018
Tutorial in Advanced Econometrics, Master in Finance, Fall 2018
Teaching assistant in FinTech, Master in Finance, 2018
Teaching assistant in Sustainable Finance I & II, Master in Finance, 2015, 2016
Teaching assistant in Managerial Finance, MBA, 2015, 2016, 2017
Co-supervisor in bachelor and master theses, 2015, 2016, 2017

Professional Services

2018: Referee for Journal of Corporate Finance, Emerging Markets Review
2017: Reviewer for INFINITI Conference on International Finance; Reviewer for the 22th Spring Meeting of Young Economists


EFA PhD Travel Stipend, 2018
Dean’s Fund, WHU – Otto Beisheim School of Management, 2016, 2017, 2018
Best Conference Paper Award, Annual Meeting of French Finance Association, 2017
Research Grant for Visiting Scholar, WHU Chair of Corporate Finance, 2016
PhD Fellowship, WHU Chair of Corporate Finance, 2014–present
ESSEC Excellence Scholarship, 2013
CFA Global Research Challenge French Championship, 2013
Research Paper Award in the ECUST University Student Research Program, 2009
National Scholarship by the Chinese Education Ministry, 2008


American Finance Association
European Finance Association
Western Finance Association
Society for Financial Studies
European Association of Young Economists


STATA, Matlab, Python, LaTex