Dong Chen, Ph.D.
Associate Professor of Finance
Yale Gordon Chair of Distinguished Teaching
Department of Finance and Economics
Office: Business Center 485
Personal Web Site: https://scholar.google.com/citations?user=EVWc8mMAAAAJ&hl=en
- Ph.D., Duke University
- M.A., Duke University
- M.A., The University of Mississippi
- M.E., Tongji University
- B.E., Tongji University
Professor Chen joined the faculty in 2008 after earning his Ph.D. from Duke University. He has a research interest in the areas of corporate governance and corporate social responsibility, and has published in journals such as Journal of Corporate Finance, Journal of Banking & Finance, and Financial Management.
Corporate Finance/Governance, Board of Directors, Credit Risk, Executive Compensation, Risk Taking Incentives, Corporate Social Responsibility, Climate Change Policies
Corporate Finance, Financial Management
Refereed Journal Articles
Li, J., Lai, H., Chen, D., Chen, S., & Lai, S. (2019). Impact of Cardiovascular Disease on Health Insurance Coverage and Healthcare Use under Economic Stress: The National Health and Nutrition Examination Survey, 2003�2012. Osong Public Health and Research Perspectives. 10(3), 14.
Chen, D. UB RED Talks, "Personal experiences and corporate climate mitigation policy ratings," University of Baltimore, University of Baltimore. (2020).
Zhang, T., Gerlowski, D. A., & Chen, D. 2019 American Economic Association ASSA annual meeting, "Ownership Stake and Sweat Equity Homophiles in High Tech Entrepreneur Teams," American Economic Association ASSA, Atlanta, GA. (2019).
Chen, D. The 5th Energy and Climate Economics Forum, China, "Natural Disasters and Corporate Climate Change Policies," Chinese Society of Energy Economics and Management, Guilin University of Electronic Technology. (2018).
Chen, D., & . 2018 Shanghai Green Finance Conference, "Natural Disasters and Corporate Climate Change Policies," Shanghai University of Finance and Economics; University of Edinburgh, Shanghai, China. (2018).
Chen, D., & . 6th International Symposium on Environment & Energy Finance Issues, "Natural Disasters and Corporate Climate Change Policies," IPAG Business School and Paris Dauphine University, Paris, France. (2018).
Research in Progress
"Active or Passive - Who is More Effective in Governance?" (On-Going)
This study categorizes institutional investors into three types: short-term investor, long-term "indexer" who mainly tracks major stock indexes, and long-term active investor who actively manages portfolios, and examine the relative effectiveness of each on corporate governance through their respective effect on the initiation, passing, and implementation of shareholder proposals.
"Board Gender Diversity and Executive Compensation" (On-Going)
We analyze the influence of gender diversity on corporate boards on executive compensation.
"Extreme Weather and Corporate Carbon Emissions" (On-Going)
I analyze the impact of extreme weather events (EWEs) at the headquarters of the firms in the U.S. on their carbon emissions.
"Housing Price Variability: National and Local Impacts" (On-Going)
"How Does Headquarter Location Affect Firm Valuation?" (On-Going)
I analyze the influence of headquarter location on firm value. I document that firms headquartered in more crowded places enjoy a valuation premium.
"Local Warming and Corporate Carbon Emissions" (Planning)
I analyze the impact of local warming - a higher temperature at the headquarters of the firms in the US relative to their historical trend on their carbon emissions.
"Local Warming and Ratings on Corporate Climate Mitigation Policies" (Writing Results)
Using a sample of the largest public firms in the U.S. between 1992 and 2009, I find that the detrended July temperature of the headquarter counties of these firms is positively and significantly associated with subsequent ratings of their climate mitigation policies, especially when managers have presumably weaker prior beliefs in anthropogenic climate change. In contrast, either raw or detrended average annual or January temperature of the headquarter counties does not affect climate ratings significantly. Taken together, these results suggest that the negative feelings associated with managerial experiences of temperatures, not just an experience of a rise in local temperatures, is important to determine corporate climate mitigation actions.
"Overconfidence, Corporate Governance, and Bank Risk-Taking" (On-Going)
We analyze the interaction of CEO overconfidence and corporate governance on bank risk-taking.