Prof. Zhihong CHEN

Prof. Zhihong CHEN

Associate Professor

Academic qualifications

  • PhD  2005  Hong Kong University of Science and Technology
  • M.Sc.  2000  Tsinghua University, Beijing, China
  • BBA  1998  Tsinghua University, beijing, China


  • Associate professor, The Hong Kong University of Science and Technology, Oct 2013 - present
  • Associate professor, The City University of Hong Kong, 2011-2013
  • Assistant professor, The City Universtiy of Hong Kong, 2006- 2011
  • Visiting assistant professor, The HOng Kong University of Science and Technology, 2005-2006


  • Chen. Zhihong and Hong Zou and Oliver Li, "Directors' and Officers' Liability Insurance and the Cost of Equity." Journal of Accounting and Economics, V.61, Issue 1, Feb 2016, pp. 100-120
  • Chen, Zhihong, Yuyan Guan, and Bin Ke, “Are Stock Option Grants to Directors of State-Controlled Chinese Firms Listed in Hong Kong Genuine Compensation?” The Accounting Review 88, pp.1547-1574.
  • Chen, Zhihong, Bin Ke, and Zhifeng Yang, “Minority shareholders’ control rights and the quality of corporate decisions in weak investor protection countries: a natural experiment from China,” The Accounting Review 88, pp.1211-1238.
  • Chen, Zhihong, Yuan Huang, and John K. C. Wei, “Executive pay disparity and the cost of equity,” Journal of Financial and Quantitative Analysis, forthcoming.
  • Chen, Kevin C. W., Zhihong Chen, and John K. C. Wei, “Agency costs of free cash flow and the effect of shareholder rights on the implied cost of equity capital,” Journal of Financial and Quantitative Analysis 46 (2011), pp.171-207.
  • Chen, Zhihong, Dan S. Dhaliwal, and Hong Xie, “Regulation Fair Disclosure and the cost of equity capital,” Review of Accounting Studies 15 (2010), pp. 106-144.
  • Chen, Kevin C. W., Zhihong Chen, and John K. C. Wei, “Legal protection of investors, corporate governance, and the cost of capital in emerging markets,” Journal of Corporate Finance 15 (2009), pp. 273–289.