Research Interests

Theoretical and empirical corporate finance and entrepreneurial finance with primary focus on: Venture Capital, Corporate Innovation, Mergers and Acquisitions, and Payout Policy.

My Google Scholar Page is here

Publications

[10]  “Does Banking Competition Affect Innovation?” Journal of Financial Economics (with Jess Cornaggia, Yifei Mao, and Brian Wolfe), forthcoming [Download]

Ø  Supplemental material: Internet Appendix for “Cornaggia, Mao, Tian, and Wolfe (2013)

Ø  On the 2013 WFA program

[9]  “Does Stock Liquidity Enhance or Impede Firm Innovation?” 2014, Journal of Finance (with Vivian Fang and Sheri Tice), Vol. 69 (5) [Download]

Ø  Supplemental material: Internet Appendix for “Fang, Tian, and Tice (2013)

Ø  On the 2011WFA program

 [8]  “Corporate Venture Capital, Value Creation, and Innovation,” 2014, Review of Financial Studies (with Thomas Chemmanur and Elena Loutskina), Vol. 27 (8), 2434-2473 [Download]

Ø  On the 2013 WFA program

[7]  “Financial Development and Innovation: Cross-country Evidence,” 2014, Journal of Financial Economics (with Po-Hsuan Hsu and Yan Xu), Vol. 112 (1), 116-135 [Download] 

Ø  Data file mapping the USPTO technology classes to SIC codes is available here

[6]  “Communicating Private Information to the Equity Market Before a Dividend Cut: An Empirical Analysis,” Journal of Financial and Quantitative Analysis (with Thomas Chemmanur), forthcoming [Download] 

Ø  On the 2007 WFA program

[5]  “Tolerance for Failure and Corporate Innovation,” 2014, Review of Financial Studies (with Tracy Wang), Vol. 27 (1), 211-255 [Download]

[4]  “The Dark Side of Analyst Coverage: The Case of Innovation,” 2013, Journal of Financial Economics  (with Jie He), Vol. 109 (3), 856-878 [Download]

Ø  Supplemental material: Internet Appendix for “He and Tian (2013)

Ø  On the 2013 WFA program

[3]  “‘Preparing’ the Equity Market for Adverse Corporate Events: A Theoretical Analysis of Firms Cutting Dividends,” 2012, Journal of Financial and Quantitative Analysis (with Thomas Chemmanur), Vol. 47 (5), 993-972 [Download]

Ø  On the 2007 WFA program

[2]  “The Role of Venture Capital Syndication in Value Creation for Entrepreneurial Firms,” 2012, Review of Finance, Vol. 16 (1), 245- 283 [Download]

[1]  “The Causes and Consequences of Venture Capital Stage Financing,” 2011, Journal of Financial Economics, Vol. 101 (1), 132-159 [Download]

Ø  Winner of Jensen Prizes (2nd place) for best paper published in 2011 in the areas of Corporate Finance and Organizations in Journal of Financial Economics

Working Papers

[11]  “Disciplining Delegated Monitors: The Consequences of Failing to Prevent Fraud,” with Gregory Udell and Xiaoyun Yu  [Download]

Ø  Revise and resubmit, Journal of Accounting and Economics

Ø  On the 2013 WFA program

[22]  “Does Firm’s Geographic Location Affect Its Takeover Exposure?” with Ye Cai and Han Xia [Download]

Ø  Revise and resubmit, Journal of Economics & Management Strategy

[13]  “Financial Liberalization and Innovation,” with Fariborz Moshirian, Zhengyuan Wang, and Bohui Zhang [Download]

Ø  On the 2014 WFA program

[14]  “Do Unions Affect Innovation?” with Daniel Bradley and Incheol Kim [Download]

Ø  On the 2014 Napa Conference on Financial Market Research

Ø  On the 2014 American Economic Association program

Ø  On the 2013 NBER Productivity, Entrepreneurship, and Innovation program

[15]  “Short Sellers and Innovation: Evidence form a Quasi-Natural Experiment” with Jie He [Download]

Ø  On the 2014 London Business School Summer Finance Symposium program

[16]  [New!] “Shareholder Power and Corporate Innovation: Evidence from Hedge Fund Activism,” with Alon Brav and Wei Jiang [Download]

Ø  On the 2015 AFA program

[17]  [New!] “Hard Marriage with Heavy Burdens: Labor Unions as Takeover Deterrents,” with Wenyu Wang

Ø  On the 2015 AFA program

[18]  [New!] “Learning from Customers: Corporate Innovation along the Supply Chain,” with Yongqiang Chu and Wenyu Wang

Ø  On the 2015 AFA program

[19]  “Creditor Interventions and Firm Innovation: Evidence from Debt Covenant Violations,” with Yuqi Gu and Connie Mao [Download]

[20]  “What Affects Innovation More: Policy or Policy Uncertainty?” with Utpal Bhattacharya, Po-Hsuan Hsu, and Yan Xu [Download]

Ø  On the 2014 European Finance Association Meeting program

[21]  [New!] “Privatization and Innovation: Evidence from A Quasi-natural Experiment in China” with Yongxian Tan, Xinde Zhang, and Hailong Zhao [Download]

Ø  On the 2014 European Finance Association Meeting program

[22]  “Do Foreign Institutional Investors Enhance Firm Innovation?” with Luong Hong Luong, Fariborz Moshirian, Lily Nguyen, and Bohui Zhang [Download]

[23]  “Unleashing Innovation,” with Yifei Mao and Xiaoyun Yu [Download]

Ø  On the CEPR European Workshop on Entrepreneurship Economics program

[24]  “Do Entrepreneurs Make Good VCs?” with Ye Cai and Merih Sevilir [Download]

Ø  On the 2013 AFA program

[25]  “Anti-Takeover Provisions, Innovation, and Firm Value: A Regression Discontinuity Analysis” with Thomas Chemmanur  [Download]

Ø  On the 2012 AFA program

     [26]  “Peer Monitoring and Syndication” with Thomas Chemmanur [Download]

 

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