Jun Qian's Research Page

Working Papers (pdf files; link to my working papers on SSRN is here)

· "Credit Ratings and the Evolution of the Mortgage-backed Securities Market," with Jack He and Phil Strahan; last revised: November 2009.

· "The Economic Benefits of the Sarbanes-Oxley Act: Evidence from a Natural Experiment," with Phil Strahan and Julie Zhu; last revised: December 2009.

· "The African Financial Development Gap," with Franklin  Allen, Elena Carletti, Robert Cull, and Lemma Senbet; last revised: March 2009; to be presented at the fourth annual Financial Intermediation Research Society Conference in Prague.

· "High-water Marks in Hedge Fund Compensation," with George O. Aragon; last revised: December 2009; presented at the Conference on Financial Contracting at University of Mannheim, and the third Financial Intermediation Research Society Conference in Alaska.

· "The Financial System Capacities of China and India," with Franklin  Allen, Rajesh Chakrabarti, Sankar De and Meijun Qian; last revised: April 2008; presented at the Second Joint CAF-FIC-SIFR Conference on Emerging Markets Finance, and the 2008 China International Conference in Finance in Dalian.

· "Corruption and Competition," with Franklin  Allen; last revised: August 2007; presented at the 2007 China International Conference in Finance in Chengdu, and the 2007 Summer Research Conference at the Indian School of Business.

· "Financing Firms in India," with Franklin  Allen, Rajesh Chakrabarti, Sankar De and Meijun Qian; last revised: April 2009; Questionnaire for the SME sector Survey; presented at the Darden-World Bank 2006 Conference on Emerging Markets, the 2006 European Finance Association meetings in Zurich; the first Wharton-ISB Conference on India's Financial System, and the 2007 Western Finance Association meetings.

· "Holdups, Renegotiation, and Deal Protection in Mergers," with Edie Hotchkiss and Weihong Song; last revised: July 2005; presented at the 2005 American Finance Association meetings in Philadelphia and 2005 Western Finance Association meetings in Oregon.

· "Project Selection, Production, Uncertainty, and Incentives," joint with John Core, revised: August 2003.

Publications and Forthcoming Articles 

In Refereed Journals:

· "Law, Finance, and Economic Growth in China," with  Franklin  Allen and Meijun Qian; July 2005, Journal of Financial Economics, 77 (1), 57-116. Questionnaire for Firm Survey

· Optimal Toeholds in Takeover Contests," with  Eitan Goldman; August 2005, Journal of Financial Economics, 77 (2), 321-346.

· "Endogenous Financial Intermediation and Real Effects of Capital Account Liberalization," with  George Alessandria; September 2005, Journal of International Economics, 67(1), 97-128.  Additional examples, proofs, and analysis are included here.

· "Buy-side Analysts, Sell-side Analysts, and Investment Decisions of Money Managers," with Yingmei Cheng and Mark H. Liu; March 2006, Journal of Financial and Quantitative Analysis, 41(1), 51-83.

· "How Law and Institutions Shape Financial Contracts: The Case of Bank Loans," with Phil Strahan; December 2007, Journal of Finance, 62 (6), 2803-2834.

· "Are Fairness Opinions Fair? The Case of Mergers and Acquisitions," with Darren Kisgen and Weihong Song; February 2009, Journal of Financial Economics, 91(2), 179-207.

Books and Book Chapters:

· "China's Financial System: Past, Present, and Future," with Franklin  Allen and Meijun Qian; last revised, March 2007; Chapter 14 in China's Great Economic Transformation, edited by Loren Brandt and Thomas Rawski, Cambridge University Press; older version with more examples and case studies is here.

· "Law, Institutions, and Finance in China and India," with Franklin  Allen, Rajesh Chakrabarti, Sankar De and Meijun Qian; last revised: Feb. 2008; forthcoming in Emerging Giants: China and India in the World Economy, edited by Barry Eichengreen, Poonam Gupta, and Rajiv Kumar.

· "A Review of China's Financial System and Initiatives for the Future," with Franklin  Allen, Meijun Qian, and Mengxin Zhao, last revised, July 2008; lead chapter in China's Emerging Financial Markets: Challenges and Opportunities, edited by James R. Barth, John A. Tatom, and Glenn Yago, the Milken Institute Series on Financial Innovation and Economic Growth, Springer.

· "Comparing Legal and Alternative Institutions in Finance and Commerce," with Franklin  Allen; last revised: January 2009; presented at the 2008 World Justice Program Vienna Conference, and the 2009 NYU-Penn Law and Finance Conference.

Other Publications

· "Comparing China's Financial System," with Franklin  Allen and Meijun Qian; China Journal of Finance, Vol. 1, 1-28, June 2003.

· "Building China's Financial System in the 21st Century," with Franklin  Allen and Meijun Qian; Harvard China Review, Vol. IV (1), 36-41, August 2003.

· "Will China's Financial System Stimulate or Impede the Growth of Its Economy?" with Franklin  Allen and Meijun Qian; July 2005, Asia Program Special Report No. 129, pp. 33-41, Woodrow Wilson International Center for Scholars, Washington, D.C.

Last updated: November 2009