Chen, Nicholas Z.Y.（陈志遥） BE (Changsha Science and Technology University); PhD (University of Washington, Seattle)



Assistant Professor
ContactDepartment of Finance

Room 1234, 12/F
Cheng Yu Tung Building
12 Chak Cheung Street
Shatin, N.T. Hong Kong

+852 3943 7755

nicholaschen@baf.cuhk.edu.hk


Links
Google Scholar
Curriculum Vitae

BiographyDr. Nicholas Zhiyao Chen is an Assistant Professor at The Chinese University of Hong Kong (CUHK) Business School. Dr. Chen joined CUHK in 2015, and prior to this, he was an Assistant Professor at the Henley Business School, University of Reading in the U.K. He received a Ph.D. in Finance from the Foster School of Business, University of Washington, in 2011. His current research interests mainly focus on corporate finance in connection with asset pricing. He has presented his research papers at the annual meetings of American Financial Association, Western Financial Association, European Finance Association, China International Conference in Finance, the North American Econometric Society Summer Meeting, ASU Sonoran Winter Finance Conference and etc. His research papers been published at the leading finance journals, including the Review of Financial Studies, and the Journal of Financial and Quantitative Analysis.
Research InterestCorporate Finance
Asset Pricing
Agency Conflicts
Capital Structure
Publications & Working PapersSelected Academic Publications
Z. Chen and I. Strebulaev (2019), “Macroeconomic Risk and Idiosyncratic Risk-Taking,” Review of Financial Studies, March 2019, 32(3).
Z. Chen, J. Harford, and A. Kamara (2019), “Operating Leverage, Profitability and Capital Structure,” Journal of Financial and Quantitative Analysis, Nov 2019, 54(1).
Z. Chen, Ilya A. Strebulaev, Yuhang Xing, and Xiaoyan Zhang, “Strategic Risk Shifting and the Idiosyncratic Volatility Puzzle: An Empirical Investigation,”?Management Science, forthcoming.
Z. Chen, Hamed Mahmudi, Aazam Virani, and Xiaofei Zhao, “Why Are Bidder Termination Provisions Included In Takeovers?”?Journal of Financial and Quantitative Analysis, accepted.
Z. Chen, Dirk Hackbarth, and Ilya A. Strebulaev, “A unified model of distress risk puzzles,” Journal of Financial Economics, accepted.
Working Papers
Z. Chen, Hui Chen, Jun Li, “The debt-equity spread.”
Z. Chen, Ran Duchin, “Do Nonfinancial Firms Use Financial Assets to Take Risk?”
Z. Chen and Ilya A. Strebulaev, “Contingent Claim-Based Expected Stock Returns.”
Z. Chen, Jun Li, Huijun Wang, “Is the size premium really driven by firm size?”
Z. Chen, “Risk structure and capital structure.”
Z. Chen, Jun Li, and Kai Li, “Stochastic Volatility and the Value Premium.”
“Dynamic Risk Shifting, Costly Risk Adjustment and Asset Pricing,” Thesis, the University of Washington.

Awards & HonoursBertauche Endowment Fellowship, University of Washington, 2010
Evert McCabe Endowed Fellowship, University of Washington, 2008

Academic/Professional ServicesProfessional Service
Organiser of the 2013 EFMA meetings.
Ad hoc reviewer for the Journal of Financial and Quantitative Analysis, Management Science, Journal of Futures Markets, Journal of International Money and Finance, and International Journal of Forecasting.