Cen, Ling（岑岭） BSc (Zhejiang University); MSc (Warwick); PhD (HKUST)



Associate Professor
Associate Director, Hong Kong-Shenzhen Finance Research Centre
ContactDepartment of Finance

Room 1209, 12/F
Cheng Yu Tung Building
12 Chak Cheung Street
Shatin, N.T. Hong Kong

+852 3943 3166

ling.cen@cuhk.edu.hk


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BiographyProf. Ling Cen is an Associate Professor of Finance at The Chinese University of Hong Kong (CUHK). Before joining CUHK, he was an Associate Professor of Finance at the University of Toronto. His early research was mainly on behavioural finance. In his recent work, he conducts interdisciplinary studies of corporate finance and operations management, focusing on the role of supply-chain relationships on various aspects of corporate decisions. He is also interested in the role of buy-side and sell-side analysts in earnings conference calls. His papers have been published in the Journal of Financial Economics, Management Science, The Accounting Review, Journal of Financial and Quantitative Analysis, and Review of Finance.
Teaching AreasBehavioural Finance
Mergers and Acquisitions
Corporate Finance/Financial Management
Research InterestsImpact of Supply-Chain Relationships on Corporate and Investment Decisions
Information Production and Diffusion in Financial Markets
Roles of Buy-Side and Sell-Side Analysts in Financial Markets
Publications & Working PaperLing Cen, Feng Chen, Yu Hou, and Gordon Richardson (2018), “Strategic Disclosures of Litigation Loss Contingencies When Customer-Supplier Relationships Are at Risk,”?The Accounting Review, 93(2), 137-159.
Ling Cen, Ed Maydew, Liandong Zhang, and Luo Zuo (2017), “Customer-Supplier Relationships and Corporate Tax Avoidance,” Journal of Financial Economics, 123(2), 377-394.
Ling Cen, K.C. John Wei, and Liyan Yang (2017), “Disagreement, Underreaction, and Stock Returns,” Management Science, 63 (4), 1214-1231.
Ling Cen, Sudipto Dasgupta, and Rik Sen (2016), “Discipline or Disruption? Stakeholder Relationships and the Effect of Takeover Threat,” Management Science, 62(10), 2820-2841.
Ling Cen, Sudipto Dasgupta, Redouane Elkamhi, and Raunaq Pungaliya (2015), “The Effect of Customer-Supplier Relationship on the Loan Market,” Review of Finance,?20(2), 501-533.
Ling Cen, Kalok Chan, Sudipto Dasgupta, and Ning Gao (2013), “When the Tail Wags the Dog: Industry Leaders, Limited Attention and Spurious Cross-Industry Information Diffusion,” Management Science,?59(11), 2566-2585.
Ling Cen, Hai Lu, and Liyan Yang (2013), “Investor Sentiment, Disagreement, and Breadth-Return Relationship,” Management Science,?59(5), 1076-1091.
Ling Cen, Gilles Hilary, and K. C. John Wei (2013), “The Role of Anchoring Bias in the Equity Market,” Journal of Financial and Quantitative Analysis,?48(1), 47-76.

Grants“Do Countries Matter for Information Diffusion in Financial Markets: Evidence from Global Supply-Chain”, SSHRC Insight Grant awarded by Social Sciences and Humanities Research Council with CAD 50,404, 2017 (Principal Investigator)
“Rationalize the Irrationality: Diffusion of Misvaluation through Economic Links”, SSHRC Insight Grant awarded by Social Sciences and Humanities Research Council with?CAD 52,125, 2013 (Principal Investigator)
“Litigation Loss Contingency Disclosures and Customer-Supplier Relationships”, SSHRC Insight Grant awarded by Social Sciences and Humanities Research Council with CAD 77,010, 2013 (Co-investigator)
“Contagion of Sentiment, Investor Trading Activities, and Financial Crises”, awarded by Governing Board of the Institute of New Economic Thinking (INET) & The Centre for International Governance Innovation (CIGI) with CAD 49,141, 2013 (Co-Investigator)
“Disagreement, Underreaction, and Stock Returns”,?Hong Kong General Research Fund awarded by Research Grants Council with HKD 318,500, 2012 (Collaborator)
SSHRC Institutional Grant (SIG) with CAD 3,000/year, 2011 & 2012 & 2015 (Principal Investigator)
The Connaught New Researcher Award by University of Toronto with CAD 10,000, 2011 (Principal Investigator)

Awards & HonoursDean’s Merit Award for Research, 2016-2017, UTSc, University of Toronto
Nomination of Dean’s Merit Award for Research, 2012-2013 & 2015-2016, UTSc, University of Toronto
Canadian Institute of Chartered Business Valuators Award for Best Paper on Business Valuation, The 2010 Northern Finance Association Annual Meetings

Academic/Professional Services1. Journal Editorial Board
Associate Editor, International Review of Finance, 2018 – Present
2. Journal Referee Service
Review of Financial Studies
Journal of Financial Economics
Management Science
Review of Finance
Contemporary Accounting Research
Journal of Corporate Finance
Journal of Empirical Finance
Journal of Banking and Finance
Journal of Financial Intermediation
European Accounting Review
International Review of Finance
Pacific Basin Finance Journal
Canadian Journal of Economics
Canadian Journal of Administrative Sciences
Journal of Accounting, Auditing and Finance
3. Conference Organisation/Review Service
The Asian Finance Association Annual Meetings, 2012, 2013, 2014, 2015, 2016, 2017, 2018
The China International Conference in Finance, 2016, 2018
The European Finance Association Annual Meetings, 2015, 2016, 2017, 2018
The Northern Finance Association Annual Meetings, 2012, 2013, 2015, 2016
The Financial Management Association Annual Meeting, 2017