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Tao
(Jonas) CHEN
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Associate
Professor in Finance
Academic
Director, MSc in Finance, NBS
NISTH
Fellow
Vice
President, Asian Finance Association (AsFA)
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Address
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Division
of Banking & Finance
Nanyang Business School
Nanyang Technological University
91 Nanyang Avenue, Gaia, ABS-06-106, Singapore
639956
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Email
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jtchen@ntu.edu.sg
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Phone
No
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+65-67905785
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Fax
No
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+65-67913236
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Biography:
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Tao Chen joined Nanyang Business School (NBS)
as an Assistant Professor in 2014 and was promoted
to Associate Professor in Finance with tenure in
2020. His research interest focuses on how
financial market participants influence corporate
policies, particularly issues related to
environmental, social and governance (ESG), and
how FinTech and financial innovation affect
financial inclusion and risk.
He has published his work in Journal of
Financial Economics (×2), Management Science (×3), Journal of Financial
and Quantitative Analysis (×2), Review of Finance,
Strategic Management Journal, Journal of
Management Information Systems, Journal of Risk
and Insurance, among others. His papers have been
presented at major finance conferences including
AFA, WFA, EFA, SFS Cavalcade, AAA, FIRS, ABFER,
Finance Down Under, ECCCS,
top business schools, such as MIT Sloan, NYU
Stern, UPenn Wharton, Cambridge Judge, LBS, LSE,
UF Warrington, UNC Kenan-Flagler, leading
institutions, such as NBER, Federal Reserve Board, BIS, Luohan
Academy, and covered by Financial Times,
VoxEU, the Business Times,
the Straits Times, Lianhe Zaobao, Channel News
Asia (CNA), the Network for Business
Sustainability, and the Harvard Law School Forum.
Tao is an Associate Editor of Financial
Management and Journal of Business Research. He
has been elected to join the Board of Directors
and was appointed as Vice President of Asian
Finance Association (AsFA), and invited to serve
as an HKIMR Visiting Research Fellow by Hong Kong
Monetary Authority (HKMA) and a Societal Impact
Fellow by NTU Institute of Science and Technology
for Humanity (NISTH). He has received numerous
awards, including CUHK Young Scholars Award, Outstanding Paper Award in Annual Conference on
Asia-Pacific Financial Markets, Best
Paper Award in Asian Finance Association Annual
Meeting, Best Paper Award in the IAS Midyear
Meeting of the American Accounting Association
(AAA), Pioneer Award in Peak Initiative of Digital
Finance Open Research, Nanyang Education Award, NBS Research
Excellence Award, NBS Teaching Excellence Award,
and the ARIA Robert C. Witt
Award. He was nominated for the Nanyang Research
Award (Young Investigator), and was a top finalist
for Nanyang Research Award.
He has
excellent teaching evaluations with an average of 99
(out of 100) in recent years, substantially above
the school average. Due to his effective and
innovative teaching, he was awarded the 2018 NBS
Teaching Excellence Award and 2023 NBS MSc (Finance)
Teacher of the Year Award. He was also nominated for
the NBS Business Teacher of the Year Award and the
Nanyang Education Award several times. He was
awarded the prestigious Nanyang Education Award
(School) in 2021 and Nanyang Education Award
(College) in 2024.
His
educational background includes a Ph.D. in Finance
in 2014 from the Chinese University of Hong Kong
(CUHK), Master of Philosophy degrees from Hong Kong
University of Science and Technology (HKUST), and
Bachelor's degrees from Beijing Foreign Studies
University (BFSU). In his spare time, he likes
movies, hiking, tennis, squash, table tennis, and
badminton.
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Editorial Appointments:
Associate Editor, Financial Management
Associate Editor, Journal of Business
Research
Guest Editor, Pacific-Basin Finance
Journal
Editorial Board, Corporate
Governance: An International Review
Google
Scholar Citations
Total citations:
3300+;
H-index: 17
SSRN
Page
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Selected
Publications:
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Journal
Papers
(6
UTD; 10 FT50) (6 1A*, 3 1A+, 10 1A)
21.
“Minimum Wages, State Ownership, and Corporate
Environmental Policies”
(with X. Xiong and K. Zou), Journal of
Financial and Quantitative Analysis,
forthcoming. (SSRN)
20.
“Dual Ownership
and Managerial Compensation
Incentives”
(with
L. Zhang and Q. Zhu), Review of Finance,
forthcoming. (SSRN)
19. “Analyst
Coverage, Executive
Compensation and Corporate
Risk-Taking: Evidence from
Property-Casualty Insurance
Firms”
(with S. Kamiya, P. Lou, and A. Milidonis).
Journal of Risk and Insurance,
forthcoming. (SSRN)
18. “The Social Cost
of Investor Distraction:
Evidence from Institutional
Cross-Blockholding”
(with V. Astvansh and C. Qu). PLOS ONE,
forthcoming.
17. “Authentically
Fake? How Consumers Respond to
the Influence of Virtual
Influencers” (with
C. Lou, S.T.J. Kiew, T.Y.M. Lee, J.E.C. Ong, and
Z.X. Phua), Journal of Advertising,
52 (2023), 540-557.
16. “Bank Competition
and Corporate Environmental
Performance” (with
S. Chen, P. Lou, H. Song, and C. Wu), World
Development, 161 (2023), 106106. (SSRN)
15. “Labor
Unionization and Real
Earnings Management:
Evidence from Labor
Elections”
(with V. Astvansh,
B. Wang, and C. Qu). PLOS ONE, forthcoming.
14. “The Unintended
Consequence of Land Finance:
Evidence from Corporate Tax
Avoidance” (with
Y. Tan, J. Wang, and C. Zeng), Management
Science, 68 (2022), 8319-8342.
(SSRN)
13. “Globalization
and U.S. Corporate Tax
Policies: Evidence from Import
Competition” (with
C. Lin and X. Shao), Management Science,
68 (2022), 6145-6162. (SSRN)
12. “Finance and
Firm Volatility: Evidence from
Small Business Lending in
China” (with
Y. Huang, C. Lin, and Z. Sheng), Management
Science, 68 (2022), 2226-2249.
(SSRN)
11. “Impact
of Competition on
Innovations of IT
Industry: An Empirical
Investigation”
(with
H.K. Cheng,
Y. Jin, S. Li, and L. Qiu), Journal of
Management Information Systems,38
(2021), 647-666. (SSRN)
10.
“Tariff
Uncertainty and U.S.
Innovation: Evidence from the
US-China Permanent Normal
Trade Relation” (with
H. Gao and Y. Wang), Journal of Empirical
Finance, 62 (2021), 12-27. (SSRN)
9. “Credit Rating
Conservatism and Corporate Tax
Avoidance: Evidence from
Dodd-Frank Act as a
Quasi-Natural Experiment”
(with S.
Leung and L. Xie), Accounting and Finance, 61 (2021),
5681-5730. (SSRN)
8. “Institutional
Shareholders and Corporate
Social Responsibility”
(with H. Dong and C. Lin), Journal of
Financial Economics, 135
(2020), 483-504. (SSRN) (SciSpace)
7. “Marginal Cost of Risk-Based Capital and Risk-Taking” (with J.
Goh, S. Kamiya, and P. Lou), Journal of Banking
and Finance, 103 (2019), 130-145. (SSRN)
6.
“Does Information Asymmetry
Affect Tax Aggressiveness?” (with C. Lin), Journal of Financial and
Quantitative Analysis, 52 (2017), 2053-2081.
(SSRN)
5.
“Windfalls of “Emperors’ Sojourns”: Stock
Market Reactions to Chinese Firms Hosting High
Ranking of Government Officials”
(with D. A. Schuler, W. Shi, and R. E. Hoskisson), Strategic
Management Journal, 38 (2017),
1668-1687.
4. “How Does Analysts’
Forecast Quality Relate to Corporate
Investment Efficiency?” (with L. Xie and Y.
Zhang), Journal of
Corporate Finance, 43 (2017), 217-240. (SSRN)
3. “Financial Innovation:
The Bright and the Dark Sides”
(with T. Beck, C. Lin, and F. M. Song), Journal
of Banking and Finance, 72 (2016), 28-51. (SSRN)
2. “Institutions, Board
Structure and Corporate Performance: Evidence
from Chinese Firms”,
Journal of Corporate Finance, 32 (2015),
217-237. (Sole author) (SSRN)
1. “Do Analysts Matter for
Governance? Evidence from Natural Experiments” (with
J. Harford and C. Lin), Journal of Financial
Economics, 115 (2015), 383-410. (SSRN)
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Research Grants:
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Academic Research Fund Tier 1 (SGD99,
997),
Singapore Ministry of
Education. (PI)
SSHR2025
Seed Grant 2021 (SGD20,
000),
NTU. (PI)
Academic Research Fund Tier 1 (SGD75,
411.68),
Singapore Ministry of Education. (Sole
PI)
Academic
Research Fund Tier 1 (SGD55,
000), Singapore
Ministry of Education. (Sole PI)
Start-Up Grant
(SGD50,
000), NTU.
(Sole
PI)
AI Singapore (SGD299, 904.80). (Co-PI)
Academic
Research Fund Tier 2 (SGD120,
931), Singapore
Ministry of Education. (Co-PI)
General
Program, National Natural Science Foundation of China (CNY 480, 000). (Co-PI)
General
Program, National Natural Science Foundation of China (CNY 480, 000). (Co-PI)
The Young Scientists Fund, National Natural Science
Foundation of China
(CNY 170, 000). (Co-PI)
General Program, Natural
Science Foundation of Guangdong Province
(CNY 200, 000). (Co-PI)
General Research Fund (HKD454, 072), Research Grants
Council of Hong Kong. (Co-PI)
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Teaching:
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Course
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Recent Evaluation (average of all
the sessions)
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BF2201
Investments (UG, Core)
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99/100
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2017-2023,
NTU
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BF2207
International Finance (UG, Core)
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93/100
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2014-2016,
NTU
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FF6121
Investments (MSc in Finance)
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99/100
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2020-Current,
NTU
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Awards
and Honours:
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2024
Nanyang
Education
Award
(College), NTU
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2024
Top Finalist,
Nanyang
Research
Award, NTU
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2024
Robert C. Witt
Award, the
American Risk
and Insurance
Association
(ARIA)
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2023
Teacher of the
Year Award, NBS
MSc (Finance)
Program
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Best
Paper Award, 2023
AMA Winter
Academic
Conference
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Best
Paper Award,
the 6th
Academy of
Finance and
Accounting
Annual
Conference
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2022 NBS
Research Excellence
Award
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Best
Paper Award,
2022 Maritime
Silk Road
Accounting and
Finance
Meeting
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Best Paper Award,
2022 IAS Midyear Meeting of the American
Accounting Association (AAA)
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2021 Nanyang Education Award
(School), NTU
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Nominee
for the 2021 Nanyang Research Award
(Young Investigator), NTU
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Excellence
in Reviewing Award, 2021 American
Accounting Association (AAA)
Annual Meeting
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Nominee for the 2020
Nanyang Education Award (School), NTU
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Pioneer
Award, 2020 Peak Initiative of Digital Finance
Open Research
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Best Paper Award, 2019 Asian Finance
Association (AsianFA)
Conference
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Finalist for the Best Paper
Award in Corporate Finance, Financial
Management Association (FMA) Asia/Pacific
Conference
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Nominee for the 2018 NBS Business
Teacher of the Year Award
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2018 NBS Teaching Excellence Award
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Outstanding Paper Award, 2014 Annual Conference on
Asia-Pacific Financial Markets (CAFM) of the Korean
Securities Association
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Semi-finalist for the Best Paper
Award in Corporate Finance, Financial
Management Association (FMA)
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CUHK Young Scholars Thesis Award |
2024
2024
2024
2023
2023
2022
2022
2022
2022
2021
2021
2021
2021
2020
2020
2019
2019
2018
2018
2014
2013, 2014
2014 |
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