Areas of Expertise (3)
Financial Statement Analysis
Asset Pricing
Accounting and Finance
Education (4)
Graduate School of Business, Columbia University: PhD, Business Administration
Graduate School of Business, Columbia University: MPh, Business Administration
University of Maryland: MA, Economics
Renmin University, China: BA, Finance
Links (3)
Honors & Awards (7)
Poets and Quants List of Favorite Professors of Executive MBAs
2018
Earl F. Cheit Award for Excellence in Teaching, EWMBA
2017 – 2018
Earl F. Cheit Award for Excellence in Teaching, EWMBA
2014 - 2015
Schwabacher Fellowship, Haas School of Business, UC Berkeley
2001
Junior Faculty Research Grant, UC Berkeley
1999, 2000
Research Enabling Grant, UC Berkeley
1998 – 2001
Grant, Jerome A. Chazen Institute of International Business
1997
Selected External Service & Affiliations (3)
- Associated Editor, Journal of Accounting, Auditing, and Finance
- Editorial Board, Review of Accounting Studies
- Reviewer: Referee for Contemporary Accounting Research, Journal of Accounting and Economics, Journal of Accounting and Public Policy, Journal of Accounting Research, Review of Accounting Studies, The Accounting Review
Positions Held (1)
At Haas since 1998
2015 – present, Michael Chetkovich Professor of Accounting, Haas School of Business 2012 – present, member, China Academy for Financial Research (CAFR) 2002 – 2015, E.R. Niemela Associate Professor of Accounting, Haas School of Business 1998 – 2002, Assistant Professor, Haas School of Business
Media Appearances (1)
Academic Study Uses News Quantified Data to Show Extended Hours Prices Are Predictive of Subsequent Stock Returns
Business Wire online
2016-10-12
"A new academic study by professors from four esteemed universities applied News Quantified’s unique data to conclude that, when crucial financial news is released during extended stock market hours, returns are positively and appreciably associated with subsequent main trading session returns."
Selected Papers & Publications (12)
A Theoretical Analysis Connecting Conservative Accounting to the Cost of Capital
Journal of Accounting and Economics (forthcoming)
Stephen Penman, Xiao-Jun Zhang
2019
Selective Trading of Available-for-Sale Securities: Evidence from U.S. Commercial Banks
European Accounting Review
Minyue Dong, Xiao-Jun Zhang
2018
Mixing Fair-Value and Historical-Cost Accounting: Predictable Other-Comprehensive Income and Mispricing of Bank Stocks
Review of Accounting Studies
Peter Easton, Xiao-Jun Zhang
2017
Asymmetric Decrease in Liquidity Trading Before Earnings Announcements and the Announcement Return Premium
Journal of Financial Economics
Shai Levi, Xiao-Jun Zhang
2015
Do Temporary Increases in Information Asymmetry Affect the Cost of Equity?
Management Science
Shai Levi, Xiao-Jun Zhang
2014
Preserving Amortized Costs within a Fair-Value-Accounting Framework: Reclassification of Gains and losses on Available-for-Sale Securities upon Realization
Review of Accounting Studies
Minyue Dong, Stephen Ryan, Xiao-Jun Zhang
2014
Book-to-Market Ratio and Skewness of Stock Return
The Accounting Review
Xiao-Jun Zhang
2013
Information Relevance, Reliability, and Disclosure
Review of Accounting Studies
Xiao-Jun Zhang
2012
Accounting Conservatism, Aggregation, and Information Quality
Contemporary Accounting Research
Xiao-Jun Zhang and Qintao Fan
2012
Financial Reporting Complexity and Investor Under-reaction to 10-K Information
Review of Accounting Studies
Xiao-Jun Zhang and Haifeng You
2009
Accounting Treatment of Inherent versus Incentive Uncertainties and the Capital Structure of the Firm
Journal of Accounting Research
Xiao-Jun Zhang and Pierre Jinghong Liang
2006
Accounting Conservatism, Quality of Earnings, and Stock Returns
The Accounting Review
Xiao-Jun Zhang and Stephen H. Penman
2002
Teaching (2)
Financial Accounting, Executive
MBA 202, MBA 202, Evening & Weekend MBA 202, UGBA 202
Doctoral Research Seminar
PHDBA 229
Social