Yuhai Xuan

Yuhai Xuan

Professor of Finance and Robert and Karen May Faculty Fellowship

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Contact

4039 Business Instructional Facility

515 Gregory Drive

Champaign, IL 61820

217-300-3689

yhxuan@illinois.edu

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Educational Background

  • Ph.D., Business Economics, Harvard University, 2006
  • A.M., Business Economics, Harvard University, 2002

Positions Held

  • Professor of Finance, University of Illinois at Urbana-Champaign, 2018 to present
  • Academic Director, Online MBA (iMBA) Program, University of Illinois at Urbana-Champaign, 2016 to present
  • Associate Professor of Finance, University of Illinois at Urbana-Champaign, 2015-2018
  • Associate Professor of Finance, Harvard Business School, 2012-2015
  • Assistant Professor of Finance, Harvard Business School, 2006-2012

Recent Publications

  • Lin, C., Schmid, T., & Xuan, Y. (2018). Employee Representation and Financial Leverage. Journal of Financial Economics, 127 303-324.
  • Baker, M., & Xuan, Y. (2016). Under New Management: Equity Issues and the Attribution of Past Returns. Journal of Financial Economics, 121 66-78.
  • Gompers, P., Mukharlyamov, V., & Xuan, Y. (2016). The Cost of Friendship. Journal of Financial Economics, 119 626-644.

Other Publications

Article

  • Ishii, J., & Xuan, Y. (2014). Acquirer-Target Social Ties and Merger Outcomes. Journal of Financial Economics, 112 344-363.
  • Lin, C., Ma, Y., Malatesta, P., & Xuan, Y. (2013). Corporate Ownership Structure and the Choice Between Bank Debt and Public Debt. Journal of Financial Economics, 109 517-534.
  • Firth, M., Lin, C., Liu, P., & Xuan, Y. (2013). The Client is King: Do Mutual Fund Relationships Bias Analyst Recommendations? Journal of Accounting Research, 51 165-200.
  • Lin, C., Ma, Y., Malatesta, P., & Xuan, Y. (2012). Corporate Ownership Structure and Bank Loan Syndicate Structure. Journal of Financial Economics, 104 1-22.
  • Lin, C., Ma, Y., & Xuan, Y. (2011). Ownership Structure and Financial Constraints: Evidence from a Structural Estimation. Journal of Financial Economics, 102 416-431.
  • Lin, C., Ma, Y., Malatesta, P., & Xuan, Y. (2011). Ownership Structure and the Cost of Corporate Borrowing. Journal of Financial Economics, 100 1-23.
  • Xuan, Y. (2009). Empire-Building or Bridge-Building? Evidence from New CEOs' Internal Capital Allocation Decisions. Review of Financial Studies, 22 (12), 4919-4948.

Case Study

  • Njavro, M., & Xuan, Y. (2015). Atlantic Grupa. Harvard Business School Case 215-077 and Teaching Note 215-078 Boston, MA: Harvard Business Publishing.
  • Luehrman, T., & Xuan, Y. (2011). Magna International, Inc. (A) and (B). Harvard Business School Case 211-044/211-045 and Teaching Note 211-077 Boston, MA: Harvard Business Publishing.
  • Bai, X., Jin, L., & Xuan, Y. (2010). Shenzhen Development Bank. Harvard Business School Case 210-020 and Teaching Note 211-070 Boston, MA: Harvard Business Publishing.

Chapter in a Book

  • Gompers, P., & Xuan, Y., Barth, J., Lin, C., Wihlborg C. (Ed.) (2012). The Role of Venture Capitalists in the Acquisition of Private Companies. Research Handbook on International Banking and Governance Cheltenham, UK: Edward Elgar.

Working Paper

  • Huang, R., & Xuan, Y. (2018). "Trading" Political Favors: Evidence from the Impact of the STOCK Act.
  • Almeida, H., Huang, R., Liu, P., & Xuan, Y. (2017). The Effect of Obamacare on Firm Employment and Performance.
  • Liu, P., & Xuan, Y. (2016). The Contract Year Phenomenon in the Corner Office: An Analysis of Firm Behavior During CEO Contract Renewals.
  • Gompers, P., Mukharlyamov, V., Weisburst, E., & Xuan, Y. (2014). Gender Effects in Venture Capital.

Honors and Awards

  • Robert and Karen May Faculty Fellow, University of Illinois at Urbana-Champaign, 2019 to present
  • China International Conference in Finance Best Paper Award, China International Conference in Finance, 2018
  • Voted the Best Professor in a Large Elective Course by the Master of Science in Finance (MSF) Class of 2017, University of Illinois at Urbana-Champaign, 2017
  • Selected to List of Teachers Ranked as Excellent (with "Outstanding" ratings), University of Illinois at Urbana-Champaign, 2016,2017
  • Voted the Best Professor in a Large Elective Course by the Master of Science in Finance (MSF) Class of 2016, University of Illinois at Urbana-Champaign, 2016
  • All-Star Paper, for a high number of citations per year since publication, Journal of Financial Economics, 2015
  • Marvin Bower Fellow, Harvard Business School, 2012-2015

Services

  • Associate Editor, Management Science, 2018 to present
  • Associate Editor, Journal of Empirical Finance, 2016 to present
  • Associate Editor, Journal of Financial and Quantitative Analysis, 2012 to present

Research Interests

Corporate Finance, Corporate Governance, Behavioral Finance

Current Courses

  • Cases in Financial Strategy (FIN 522) Course focuses on financial management cases. Provides students with an active learning experience. Case work is based on concepts learned in introductory corporate finance. Topics discussed include measuring and interpreting cash flow performance, financial forecasting and turnaround management ; capital investment and cost of capital; and capital structure, dividend policy; and firm valuation.

Contact

4039 Business Instructional Facility

515 Gregory Drive

Champaign, IL 61820

217-300-3689

yhxuan@illinois.edu

Vita

Homepage