Business Management

Biography:

I have a Ph.D. in Finance from the University of Calgary. My Ph.D. supervisor is Dr. Gordon A. Sick, Professor of Finance in the Haskayne School of Business at the University of Calgary.

I am currently doing research in a model that combines real options, network effects and exercise games. I explore the economic implications of non-cooperative and cooperative games for the exercising of real options in the presence of positive externality and preemption behaviour.  I look at how competitive interactions change the expected payoffs from exercising the options. Firms' expectations about future cash flows in competitive settings are different from those in monopoly markets. The option exercise game is therefore especially informative for competing companies that want to make decisions about large irreversible investments.

Qualifications:

• Ph.D in Finance, Haskayne School of Business, University of Calgary, Canada

Research Interest:

Corporate Finance and Real Options, Corporate Governance, Mergers and Acquisition.

Current Courses:

Corporate Finance, Futures and Options, Capital Budgeting, Investments and Portfolio Selection, Mergers and Acquisitions, Empirical Methods in Finance.

Professional Affiliations:

• Reviewer for academic journals

Review of Quantitative Finance and Accounting
 
• Memberships on scholarly committees

Member of Finance Management Association, 2006 to Present
Member of Administrative Science Association of Canada, 2009

Publications and Presentations:

• Publications at Refereed Journals

“Fraud, Enforcement Action, and the Role of Corporate Governance: Evidence from China,” C. Jia, S. Ding, Y. Li and Z. Wu, forthcoming in Journal of Business Ethics.

“Corporate Risk-Taking in Chinese Dual-Board Corporate Governance System,” Z. Wu, Y. Li, S. Ding and C. Jia, published in the proceedings of 2009 Administrative Science Association of Canada. This paper received Honorable Mention award (2nd place), sponsored by School of Business, Queen’s University.

“Supervisory Board and Financial Risk-Taking Behaviors in Chinese Listed Companies,” Z. Wu, Y. Li, S. Ding and C. Jia, “Corporate Boards: Managers of Risk, Sources of Risk” 2008 monograph, co-edited by Professor Robert W. Kolb and Professor Donald Schwartz, Blackwell Publishing Ltd.

•  Papers Accepted for Refereed Conference Presentation

2009 Administrative Science Association of Canada conference, “Corporate Risk-Taking in Chinese Dual-Board Corporate Governance System.”

2009 Finance Management Association Asia meeting, “Enterprise Risk Management and Financial Stability in Dual-Board Corporate Governance System.”

2009 Multinational Finance Society annual meeting, “Enterprise Risk Management and Financial Stability in Dual-Board Corporate Governance System.”

2009 European Financial Management Symposium, Risk Management in Financial Institutions, “Enterprise Risk Management and Financial Stability in Dual-Board Corporate Governance System.”

2007 Finance Management Association meeting, “Equilibrium Investment Decisions in a Real-Options Sequential Bargaining Game with Network Effects.” This paper is presented in Doctoral Student Consortium.

2007 Northern Finance Association meeting, “Real Options, Sequential Bargaining Games and Network Effects in Natural Gas Production.”

2006 FMA conference, “Real Option Analysis in Games with Network Effects: an Application to the Equilibrium Production Strategy of Oil and Gas firms.”

2005 Real Option 9th annual conference, “Option Analysis for adjacent gas producers to choose optimal operating strategy.”