Prof. Susheng WANG
Professor sswang@ust.hk

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Ph.D. 1991 University of Toronto, Economics
M.S. 1985 Nanakai University, China, Mathematics
B.S. 1982 Nankai University, China, Mathematics

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ACADEMIC AND PROFESSIONAL EXPERIENCEProfessor of Economics, Hong Kong University of Science and Technology (HKUST), 2011-
Associate Professor of Economics, Hong Kong University of Science and Technology (HKUST), 2001-2011
Assistant Professor of Economics, Hong Kong University of Science and Technology (HKUST), 1993-2001
Visiting Scholar, Department of Economics, UCLA, Jan-Jul, 1998
Assistant Professor, Department of Economics, Concordia University, 1991-93

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PUBLICATIONS Wang, L.; Wang, S. (2017). Buybacks as an Efficient Strategy for Venture Capital in Emerging Markets. Pacific-Basin Finance Journal, forthcoming.
Ma, Q.; Wang, S. (2017). A Unified Theory of Forward- and Backward-looking M&As and Divestitures. European Financial Management, forthcoming.
Wang, S. (2017). A Theory of Mandatory Convertibles: Distinct Features for Large Repeated Financing. European Journal of Finance, forthcoming.
Wang, S. (2017). A Functional Representation of Fuzzy Preferences. Theoretical Economics Letters, 7, 13-22.
Jiang, K.; Wang, S. (2017). A Contractual Analysis of State versus Private Ownership. China Economic Review, 43, 142-168.
Jiang, K.; Wang, S. (2017). A Contractual Analysis of State versus Private Ownership. China Economic Review, 43, 142-168.
Jiang, K.; Wang, S. (2017). A Contractual Analysis of State versus Private Ownership. China Economic Review, 43, 142-168.
Wang, S.; Zhu, T. (2016). Optimality of the 51:49 Equity Structure. Economics Letters, 145, 270-273.
Wang, S.; Zhu, T. (2016). Optimality of the 51:49 Equity Structure. Economics Letters, 145, 270-273.
Jiang, K.; Wang, S. (2016). Staged Privatization: Transforming SOEs to Market-Based Firms. Journal of Institutional and Theoretical Economics, 172(4), 694-726.
Chen, S.; Wang, S.; Yang, H. (2015). Spatial Competition and Interdependence in Strategic Decisions: Empirical Evidence from Franchising. Economic Geography, 91(2), 165-204.
Wang, S. (2014): “The Irrelevance of Control Rights in Agency Models under Risk Neutrality.” Managerial and Decision Economics, 35, 337-349.
Wang, L.; Wang, S.; Zhang, J. (2013): “Understanding the High-Tech Bubble from Evidence,” Financial Review, 48(2), 283-310.
Jiang, K.; Wang, S. (2012): “Staged Privatization: A Market Process with Multistage Lockups,” China Economic Review, 23(4), 1051-1070.
Zhang, J.; Wang, L.; Wang, S. (2012): “Financial Development and Economic Growth: Recent Evidence from China,” Journal of Comparative Economics, 40, 393-412.
Wang, L.; Wang, S. (2012): “Economic Freedom and Cross-Border Venture Capital Performance,” Journal of Empirical Finance, 19, 26-50. (38 Google citations in 2016-12).
Wang, L.; Wang, S. (2012): “Endogenous Networks in Investment Syndication,” Journal of Corporate Finance, 18, 640–663.
Hong, F.; Wang, S. (2012): “Climate Policy, Learning, and Technology Adoption in Small Countries,” Environmental and Resource Economics, 51(3), 391-411.
Qiu, L.; Wang, S. (2011): “BOT Projects: Incentives and Efficiency,” Journal of Development Economics, 94(1), 127–138. (15 Google citations in 2014-08).
Wang, L.; Wang, S. (2010): “Cross-Border Venture Capital Performance: Evidence from China,” Pacific-Basin Finance Journal, 19(1), 71–97. (49 Google citations in 2016-12).
Wang, S. (2010): “Contractual Incompleteness for External Risks,” B.E. Journal of Theoretical Economics, 10(1), Article 19.
Wang, S. (2009): “Convertibles in Sequential Financing,” Review of Finance, 13(4), 727–760. (16 Google citations in 2016-12).
Wang, L.; Wang, S. (2009): “Convertibles in Staged Financing,” Journal of Economics and Finance, 33(2), 189–221.
Wang, S. (2008): “The Optimality of Contingent Fees in the Agency Problem of Litigation,” International Review of Law and Economics, 28, 23–31.
Wang, S.; Zhu, L. (2007): “Increasing Returns to Scale from Variable Capacity Utilization,” International Journal of Economic Theory, 3(3), 191–212.
“A First-Best Sharing Contract for the Agency Problem of Litigation,”International Review of Law and Economics, accepted with a minor revision, 2007.
“Bargaining, Revenue Sharing and Control Rights Allocation,”International Economic Review,46 (3), 895–915, with Tian Zhu, 2005.
"Contract Law and the Boundaries of the Firm
Robustness of a Fixed-Rent Contract in a Standard Agency Model,"Economic Theory, 24 (1), 111-128, with Sonku Kim, 2004.
"Staged Financing in Venture Capital: Moral Hazard and Risks
The Distribution of Wealth with Uncertain Income'',Economica, 70, 267-292, with Ian Irvine, 2003.
"Saving Behavior and Wealth Accumulation in a Pure Life-Cycle Model with Income Uncertainty
The Determinants of Aggregate Wealth
Linear Contracts and the Double Moral-Hazard,"Journal of Economic Theory, 82, 342-378, with Son Ku Kim, 1998
"Foreign Direct Investment: Incentive to learn and Contract Enforcement,"Journal of Comparative Economics, 26, 761-782, with Zhigang Tao, 1998
"Earnings Uncertainty and Wealth Accumulation: Comment
The Local Recoverability of Risk Aversion and Intertemporal Substitution
The Integrability Problem of Asset Prices
Is Kreps-Porteus Utility Distinguishable From Intertemporal Expected Utility?
research-interests">RESEARCH INTERESTS Information Theory, Agency models