Overview
Professor Chen's research interests lie in the intersections between economics, finance and accounting, with a focus on the role of information and incentives in financial markets and within firms, including the effect of information on firms’ investment decisions, the role of incentive on accounting systems, corporate governance, and security analysts’ behaviors. His recent research has examined the effects of bank mergers in firms’ disclosure behaviors, and the effects of China’s split share structure reform and of China’s bank market development on Chinese companies’ financial policies and performance. His research has been published in leading finance and accounting journals, including Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Accounting Research and Journal of Accounting and Economics. He teaches Managerial Accounting, Financial Statement Analysis, and Accounting PhD seminars. He holds a PhD and an MBA degree from the Booth School of Business at the University of Chicago, an MA in economics from University of Maryland at College Park and a BA in economics from Wuhan University in China.
Current Appointments & Affiliations
L. Palmer Fox Distinguished Professor of Business Administration
·
2021 - Present
Fuqua School of Business
Professor of Business Administration
·
2011 - Present
Fuqua School of Business
Recent Publications
The Decision Relevance of Loan Fair Values for Depositors
Journal Article Journal of Accounting Research · March 1, 2025 Using a large sample of U.S. commercial banks from 1994 to 2019, we find that loan fair values are highly relevant for depositor decision making. A one-standard-deviation decrease in loan fair value performance is associated with more than 10% lower uninsu ... Full text CiteLiquidity Transformation and Fragility in the U.S. Banking Sector
Journal Article Journal of Finance · December 1, 2024 Liquidity transformation, a key role of banks, is thought to increase fragility, as uninsured depositors face an incentive to withdraw money before others (a so-called panic run). Despite much theoretical work, however, there is little empirical evidence e ... Full text CiteEquity analyst social interactions and geographic information transmission
Journal Article Review of Accounting Studies · March 1, 2024 We find that earnings forecasts by analysts with more local peers, defined as analysts working in the same brokerage office who cover different firms headquartered in the same area, are more accurate. These heightened accuracy effects are concentrated in s ... Full text CiteEducation, Training & Certifications
The University of Chicago ·
2001
Ph.D.