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Tenured Associate Professor, Vice Director of the HSBC Financial Research Institute at PKU
Di Li
Ph.D. in Finance, The University of Michigan, Ann Arbor
Research Interests: Corporate finance, corporate governance, mergers and acquisitions, structural estimation
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0755-2603 2228
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dili@phbs.pku.edu.cn
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Office: Rm. 616, PHBS Building
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CV
Biography
Research Fields:
Corporate finance, corporate governance, mergers and acquisitions, structural estimation

Education:
Stephen M. Ross School of Business, The University of Michigan, Ann Arbor, Michigan, Ph.D. in Finance August 2012
Department of Economics, The University of Michigan, Ann Arbor, Michigan, M.A. in Economics April 2007
China Center for Economic Research, Peking University, Beijing, China, M.A. in Economics July 2005
School of Economics, Peking University, Beijing, China, B.A. in International Finance July 2002

Honor and Awards
2018-2019 PHBS Faculty Award for Excellence
2017-2018 Award for Excellence in Teaching (Peking University Shenzhen Graduate School)
2017-2018 PHBS Faculty Award for Excellence
Best Paper Award on 2018 WRDS Advanced Research Scholar Program
Best Paper Award (Second Place) on Chinese Finance Annual Meeting (2010)
Peking University Distinguished Graduate (2002, 2005)
Peer Reviewed Publications:
[1]. Li, Di, Lucian A. Taylor, and Wenyu Wang. 2018. “Inefficiencies and Externalities from Opportunistic Acquirers.” Journal of Financial Economics 130 (2): 265-290.
[2]. Li, Di, and Erica X.N. Li. 2018. “Corporate Governance and Cost of Equity: Theory and Evidence.” Management Science 64 (1): 83-101.
[3]. Dittmar, Amy K., Di Li, and Amrita Nain. 2012. “It Pays to Follow the Leader: Acquiring Targets Picked by Private Equity.” Journal of Financial and Quantitative Analysis 47 (5): 901-931.
[4]. Li, Di, Junsen Zhang, and Yaohui Zhao. 2005. “The Ownership Structure of Employment in Urban China: 1988-2000.” China Economic Quarterly 4 (Oct.): 23-44.

Working Papers:
[1] “Anatomy of a Merger Wave: An Examination of the Chinese Acquisitions of U.S. Targets” with Lan Xu.
[2] “Sword of Damocles: Job Security and Earnings Management” with Chen Cai and Xiaohua Fang.
[3] “Does Job Security Concern Acquiring Managers?” with Chen Cai and Haibei Zhao.
[4] “On the Announcement Return of Controlling Shareholder’s Stock Pledges” with Xiaobing Zheng and Wei Xu.
[5] “Structural Investigation of Acquiring Managers’ Incentives in Takeovers.”

Working in Progress:
[1] “The Market Value of Cash” with Sudipto Dasgupta and Erica X.N. Li.
[2] “CEO Pay-Performance Sensitivity, Promotion, and the Threat of Firing” with Lixin Huang.
[3] “Managerial Job Security and Corporate Policies” with Chen Cai.
 
Conference Presentations:
"Anatomy of a Merger Wave: An Examination of the Chinese Acquisitions of U.S. Targets"
2018 FMA Asia-Pacific Conference
2018 Eastern Finance Association Annual Meeting
"Inefficiencies and Externalities from Opportunistic Acquirers"
2017 NBER Corporate Finance Program Conference
2017 China Economics Annual Meeting
2017 Financial Intermediation Research Society (FIRS) Conference
2017 American Economics Association Annual Meeting
2016 European Finance Association Annual Meeting
Third University of Washington Summer Finance Conference
2016 University of Kentucky Finance Conference
2016 Edinburgh Corporate Finance Conference
"Sword of Damocles: Job Security and Earnings Management"
2nd China Finance and Accounting Research Conference
18th China Economics Annual Conference
2019 FMA European Conference
2018 WRDS Advanced Research Scholar Program (Best Paper Award)
2018 Hong Kong-Shenzhen Greater Bay Area Finance Conference
2017 Midwest Finance Association Annual Meeting
2017 FMA Annual Meeting
"Does Job Security Concern Acquiring Managers?"
2018 FMA Asian-Pacific Conference
2015 China International Conference in Finance
2015 Annual Meeting of Asian Finance Association
"Corporate Governance and Cost of Equity: Theory and Evidence"
2014 China International Conference in Finance
12th Annual All Georgia Conference, October 2013
"Structural Investigation of Acquiring Managers' Incentives in Takeovers"
2013 American Finance Association Annual Meeting
2012 FIRS Conference
"It Pays to Follow the Leader: Acquiring Targets Picked by Private Equity"
2010 China Economics Annual Conference
2010 China Finance Annual Meeting (Best Paper Award, Second Place)
“The Ownership Structure of Employment in Urban China: 1988-2000 “
2004 China Economics Annual Conference

Conference Discussion:
2019 China International Conference in Finance
2019 FMA European Conference
2018 China International Conference in Macroeconomics
2018 FMA Asia-Pacific Conference
2017 Financial Intermediation Research Society (FIRS) Conference
2017 China International Conference in Finance
2016 Midwest Finance Association Annual Meeting
2015 China International Conference in Finance
2015 Annual Meeting of Asian Finance Association
2014 Conference on Financial Economics and Accounting
2012 Financial Management Association Annual Meeting
2010 China Economics Annual Conference 

Ad hoc Referee:
Internatinal Review of Finance
Journal of Corporate Finance
Journal of Financial Education
Pacific-Basin Finance Journal
China Economic Quarterly
Peking University HSBC Business School
    Corporate Finance (FIN 521): August 2017 - present
    Corporate Governance (FIN 536): August 2017 - present

Georgia State University, J. Mack Robinsson College of Business
    Ph.D. Seminar in Corporate Finance (FI 9300): September 2015 - December 2015
    Fundamentals of Valuation (FI 4000): August 2012 - May 2017

University of Michigan, Stephen M. Ross School of Business
    Financial Management (FIN 300): January 2010 - April 2010