Journal Papers
| 1. | Yang He, Xin Pang, and Kemin Wang. 2025. Managerial incentives and trade credit: Evidence from China's EVA appraisal reform among CSOEs. Journal of Corporate Finance 94 1-26. ![]() |
| 4. | Xin Pang, Kemin Wang, and Lin Zhou. 2024. When they say ‘not affected’, what do they mean? Evidence from trade disputes. Pacific-Basin Finance Journal 84 1-21. ![]() |
| 5. | Kemin Wang, Xiaoyun Yu, and Bohui Zhang. 2023. Panda games: Corporate disclosure in the eclipse of search. Management Science 69(6) 3263-3284. ![]() |
| 6. | Kemin Wang, Guanglong Zhang, and Lin Zhou. 2023. Managerial disposition effect: Evidence from China. Pacific-Basin Finance Journal 78 1-20. ![]() |
| 7. | Dongdong Li, Haijie Huang, and Kemin Wang. 2023. Information technology infrastructure and earnings management strategy: evidence from a quasi-natural experiment. China Journal of Accounting Studies 11(1) 108–133. |
| 8. | Qiong Wang, Edward Lee, Kemin Wang, and Xin Zhang. 2022. The effect of government industrial policies on corporate accounting conservatism. Journal of Accounting and Public Policy 41(5) 1-23. |
| 9. | Kemin Wang, Rencheng Wang, K. C. John Wei, Bohui Zhang, and Yi Zhou. 2022. Insider sales under the threat of short sellers: new hypothesis and new tests. The Accounting Review 97(2) 427–451. ![]() |
| 10. | Qiong Wang and Kemin Wang. 2021. Does high-speed rail stimulate shareholder activism by small investors in China?. China Journal of Accounting Studies 9(3) 408–431. ![]() |
| 11. | Dongdong Li, Fan Shi, and Kemin Wang. 2020. China-US trade dispute investigations and corporate earnings management strategy. China Journal of Accounting Research 13(4) 339-359. |
| 12. | Jeong-Bon Kim, Xiaoxi Li, Yan Luo, and Kemin Wang. 2020. Foreign investors, external monitoring, and stock price crash risk. Journal of Accounting, Auditing & Finance 35(4) 829-853. ![]() |
| 13. | Han Xiao and Kemin Wang. 2020. Does environmental labeling exacerbate heavily polluting firms’ financial constraints? Evidence from China. China Journal of Accounting Research 13 147-174. |
| 14. | Xiaoxi Li, Jing Liu, and Kemin Wang. 2019. Pledgee competition, strategic disclosure, and future crash risk. China Journal of Accounting Research 12(3) 271-291. |
| 15. | Bo Liu and Kemin Wang. 2019. Uncertainty of political subsidy, heterogeneous beliefs, and IPO anomalies. Review of Quantitative Finance and Accounting 52(4) 923–951. |
| 16. | Changjiang Lyu, Kemin Wang, Frank Zhang, and Xin Zhang. 2018. GDP management to meet or beat growth targets. Journal of Accounting & Economics 66(1) 318-338. |
| 17. | Bo Liu and Kemin Wang. 2015. The employees’ self-interest and the underwriter reputation effects. China Finance Review International 5(3) 236-257. |
| 18. | Xingyun Dai, Sicong Dai and Kemin Wang. 2013. Exercise price regulation and the timing of ESO reports: evidence from China. China Finance Review International 3(3) 264-283. |
| 19. | Haiwei Chen, James Chong, Changjiang Lu, Kemin Wang. 2008. The Effectiveness of Regulatory Policy Changes on the Volatility Dynamics of the Chinese Stock Markets. The Chinese Economy vol.41(2) 5-23. |
| 20. | LV Changjiang, WANG Kemin, CHEN Haiwei and James Chong. 2007. Integrating A-and B-Share Markets in China: The Effects of Regulatory Policy Changes on Market Efficiency. Review of pacific basin financial markets and policies v.10.n.3 309-329. |
| 21. | Qiong Wang, Huajie Wang, and Kemin Wang. 2024. Downstream industrial policy and customer information disclosure: Evidence from industrial policy spillover effect. Accounting Research (4) 165-177. (in Chinese) |
| 22. | Yuanxing Wan, Kemin Wang, Renyangyang Wen, and Anqi Wu. 2023. R&D Manipulation and Audit Fees. Auditing Research (2) 99-111. (in Chinese) |
| 23. | Xin Pang and Kemin Wang. 2020. The motivations and effects of local SOEs' holding of commercial banks. Economic Theory and Business Management (9) 88-101. (in Chinese) |
| 24. | Qiong Wang, Dongdong Li, and Kemin Wang. 2020. Transport infrastructure and corporate cash holding: perspectives from market competition and investment opportunities. Accounting Research (4) 88-99. (in Chinese) |
| 25. | Kemin Wang, Huajie Wang, Dongdong Li, and Xingyun Dai. 2018. Complexity of annual report and management self-interest: empirical evidence from Chinese listed firms. Management World 34(12) 120-132. (in Chinese) |
| 26. | Huajie Wang and Kemin Wang. 2018. Accrual management and tone management. Accounting Research (4) 45-51. (in Chinese) |
| 27. | Linrong Chen, Yizheng Qiu, and Kemin Wang. 2018. A research on the R&D expenditure behaviors during implementation of the stock option incentive scheme. Science Research Management 39(2) 86-93. (in Chinese) |
| 28. | Jing Liu and Kemin Wang. 2018. Peer effect on corporate R&D: Evidence from China. Economic Theory and Business Management (1) 21-32. (in Chinese) |
| 29. | Kemin Wang, Jing Liu, and Xiaoxi Li. 2017. Industrial policy, government support and corporate investment efficiency. Management World (3) 113-124. (in Chinese) |
| 30. | Jing Liu, Xiaoxi Li, Xiaowei Weng, and Kemin Wang. 2016. Family founder's work experiences and corporate risk-taking. Economic Theory and Business Management (8) 33-46. (in Chinese) |
| 31. | Xiaoxi Li, Jing Liu, and Kemin Wang. 2016. On family firm founders' work experiences and corporate financial conservatism. Journal of Finance and Economics 42(4) 92-101. (in Chinese) |
| 32. | Kemin Wang, Guochao Yang, Jing Liu, and Xiaoxi Li. 2015. A study on the scrambling for IPO resources, the government subsidies and the performances of the firm. Management World (9) 147-157. (in Chinese) |
| 33. | Xiaoxi Li, Jing Liu, and Kemin Wang. 2015. Classification shifting and core earnings anomaly of seasoned equity offerings. Accounting Research (7) 26-33. (in Chinese) |
| 34. | Kemin Wang and Bo Liu. 2014. A study on the transfer of the corporate control tight, and earnings management. Management World (7) 144-156. (in Chinese) |
| 35. | Wang, Kemin and Bo Liu. 2012. SEO performance threshold and earnings management. Management World (8) 30-42. (in Chinese) |
| 36. | Wang, Kemin and Peng Lian. 2012. The regulation on IPO earnings forecasts and earnings management of listed companies. Accounting Research (3) 72-77. (in Chinese) |
| 37. | Kemin Wang, Peng Lian. 2010. Does Sponsor Institution Improve Earnings Quality of IPO Firms?. Management World (8) 21-34,43. (in Chinese) |
| 38. | Kemin Wang, Meiguang Ji, Wei Li. 2009. Corporate Transparency and Expropriation by Large Shareholders. Nankai Businesss Review Vol.12(4) 83-91. (in Chinese) |
| 39. | Peng Lian, Kemin Wang. 2009. Review of Corporate Insider Trade. Contemporary Economic Research Vol.165(5) 69-72. (in Chinese) |
| 40. | Kemin Wang, Peng Lian, Yang Xiang. 2009. The “Origin” of Listed Companies and Earnings Quality. China Accounting Review Vol.7(1) 3-28. (in Chinese) |
| 41. | WANG Kemin, WANG Zhichao. 2007. Manager Power, Compensation and Earnings Management--Evidence from Listed Companies in China. Management World (7) 111-119. (in Chinese) |
| 42. | WANG Kemin, JI Meiguang, ZHAO Mo. 2006. Macroeconomic Environment, Corporate Governance and Financial Distress. Research on Economics and Management (9) 18-25. (in Chinese) |
| 43. | WANG Kemin, JI Meiguang. 2006. Corporate Financial Warning Forecasting: Based on the Analysis of Financial vs. Non-financial Measures of Loss Firm. Journal of Finance and Economics vol.32(7) 63-72. (in Chinese) |
| 44. | WANG Kemin, ZHAO Yuheng. 2006. Empirical Study on Efficiency in China's Capital Market. Investment Research (6) 40-43. (in Chinese) |
| 45. | WANG Kemin, LUO Yanmei. 2006. Corporate External Guaranty and Financial Distress. Jilin University Journal of Social Science 5 (5) 106-113. (in Chinese) |
| 46. | WANG Kemin, LUO Yanmei. 2006. Market Response of Corporate External Guaranty Release. China Management Studies v.1(1) 43-62. (in Chinese) |
| 47. | WANG Kemin, DU Xiaoyu. 2005. Discussion of Corporate Governance and Management Earnings Forecast. China Accounting Review vol.3(2) 355-360. (in Chinese) |
| 48. | WANG Kemin, CHEN Jingyong. 2004. Ownership Structure, Investor Protection and Corporate Performance. Management World (7) 127-133,148. (in Chinese) |
| 49. | LV Changjiang, WANG Kemin. 2002. Interaction Mechanism among Corporate Capital Structure, Dividend Policy and Managerial Ownership. Accounting Research (3) 39-48. (in Chinese) |
| 50. | LV Changjiang, WANG Kemin. 1999. Empirical Analysis of Dividend Policy of Listed Companies. Economic Research Journal (12) 31-39. (in Chinese) |
Papers in Books
Wang, Kemin and Jian Zhang.Chinese listed company's internal governance structure, ownership structure and financial distress.In .Quantitative Economics in the 21st Century (V).成都,2005.
Wang, Kemin and Lina Zhang.Financial leverage effect analysis of listed companies in China.In .Quantitative Economics in the 21st Century (IV).湖南,2004.
Teaching Materials, etc.
LV Changjiang, WANG Kemin, HAN Huibo and ZHAO Yan. 2004. Financial Management. Nankai University Press, Tianjin. (in Chinese)
Research Projects
2025.01—2029.12, Principal Investigator, Research On High-Quality Development of Capital Market Driven by Artificial Intelligence, National Natural Science Foundation of China
2024.01—2027.12, Principal Investigator, Disclosure, Investment, and financing in supply chains under economic policy uncertainty, National Natural Science Foundation of China
2022.07—2022.12, Principal Investigator, Opportunities and Challenges for China from the Evolution of the International Monetary System, National Development and Reform Commission
2020.01—2023.12, Principal Investigator, China-US Trade Disputes and Corporate Information Disclosure Strategy, National Natural Science Foundation of China
2016.01—2019.12, Principal Investigator, The Secret Trading Strategy of Informed Traders in Response to Security Regulations, National Natural Science Foundation of China
2013.01—2016.12, Principal Investigator, Negotiated Stock Transactions Premiums, Target Firm's Earnings Management and Performance, National Natural Science Foundation of China
2009.01—2011.12, Principal Investigator, Timing of Corporate Disclosures and Timing of Insider Trading: Evidence from China's Listed Companies, National Natural Science Foundation of China
2008.09—2010.06, Principal Investigator, Management Earnings Forecasts and Insider Trading: Evidence from China's Listed Companies, Shanghai Philosophy and Social Science
2006.12—2009.12, Principal Investigator, Large Shareholder' Expropriation Behaviors - An Empirical Study on Private Listed Companies in China, The Ministry of Education P.R.C
2004.04—2006.04, Principal Investigator, Investor Protection, Ownership Structure, and Corporate Performance of Listed Companies, The Ministry of Education P.R.C
2003.01—2006.12, Principal Investigator, Financial Forecasting Model Innovation, National Natural Science Foundation of China
2001.12—2004.10, Principal Investigator, Ownership Structure, Investor Protection and Corporate Performance, The Ministry of Education P.R.C
2000.05—2002.07, Principal Investigator, The Study on the Restraint System to the Manager's Corruption of State-owned Enterprise, National Natural Science Foundation of China
Journal Papers
| 1. | Yang He, Xin Pang, and Kemin Wang. 2025. Managerial incentives and trade credit: Evidence from China's EVA appraisal reform among CSOEs. Journal of Corporate Finance 94 1-26. ![]() |
| 4. | Xin Pang, Kemin Wang, and Lin Zhou. 2024. When they say ‘not affected’, what do they mean? Evidence from trade disputes. Pacific-Basin Finance Journal 84 1-21. ![]() |
| 5. | Kemin Wang, Xiaoyun Yu, and Bohui Zhang. 2023. Panda games: Corporate disclosure in the eclipse of search. Management Science 69(6) 3263-3284. ![]() |
| 6. | Kemin Wang, Guanglong Zhang, and Lin Zhou. 2023. Managerial disposition effect: Evidence from China. Pacific-Basin Finance Journal 78 1-20. ![]() |
| 7. | Dongdong Li, Haijie Huang, and Kemin Wang. 2023. Information technology infrastructure and earnings management strategy: evidence from a quasi-natural experiment. China Journal of Accounting Studies 11(1) 108–133. |
| 8. | Qiong Wang, Edward Lee, Kemin Wang, and Xin Zhang. 2022. The effect of government industrial policies on corporate accounting conservatism. Journal of Accounting and Public Policy 41(5) 1-23. |
| 9. | Kemin Wang, Rencheng Wang, K. C. John Wei, Bohui Zhang, and Yi Zhou. 2022. Insider sales under the threat of short sellers: new hypothesis and new tests. The Accounting Review 97(2) 427–451. ![]() |
| 10. | Qiong Wang and Kemin Wang. 2021. Does high-speed rail stimulate shareholder activism by small investors in China?. China Journal of Accounting Studies 9(3) 408–431. ![]() |
| 11. | Dongdong Li, Fan Shi, and Kemin Wang. 2020. China-US trade dispute investigations and corporate earnings management strategy. China Journal of Accounting Research 13(4) 339-359. |
| 12. | Jeong-Bon Kim, Xiaoxi Li, Yan Luo, and Kemin Wang. 2020. Foreign investors, external monitoring, and stock price crash risk. Journal of Accounting, Auditing & Finance 35(4) 829-853. ![]() |
| 13. | Han Xiao and Kemin Wang. 2020. Does environmental labeling exacerbate heavily polluting firms’ financial constraints? Evidence from China. China Journal of Accounting Research 13 147-174. |
| 14. | Xiaoxi Li, Jing Liu, and Kemin Wang. 2019. Pledgee competition, strategic disclosure, and future crash risk. China Journal of Accounting Research 12(3) 271-291. |
| 15. | Bo Liu and Kemin Wang. 2019. Uncertainty of political subsidy, heterogeneous beliefs, and IPO anomalies. Review of Quantitative Finance and Accounting 52(4) 923–951. |
| 16. | Changjiang Lyu, Kemin Wang, Frank Zhang, and Xin Zhang. 2018. GDP management to meet or beat growth targets. Journal of Accounting & Economics 66(1) 318-338. |
| 17. | Bo Liu and Kemin Wang. 2015. The employees’ self-interest and the underwriter reputation effects. China Finance Review International 5(3) 236-257. |
| 18. | Xingyun Dai, Sicong Dai and Kemin Wang. 2013. Exercise price regulation and the timing of ESO reports: evidence from China. China Finance Review International 3(3) 264-283. |
| 19. | Haiwei Chen, James Chong, Changjiang Lu, Kemin Wang. 2008. The Effectiveness of Regulatory Policy Changes on the Volatility Dynamics of the Chinese Stock Markets. The Chinese Economy vol.41(2) 5-23. |
| 20. | LV Changjiang, WANG Kemin, CHEN Haiwei and James Chong. 2007. Integrating A-and B-Share Markets in China: The Effects of Regulatory Policy Changes on Market Efficiency. Review of pacific basin financial markets and policies v.10.n.3 309-329. |
| 21. | Qiong Wang, Huajie Wang, and Kemin Wang. 2024. Downstream industrial policy and customer information disclosure: Evidence from industrial policy spillover effect. Accounting Research (4) 165-177. (in Chinese) |
| 22. | Yuanxing Wan, Kemin Wang, Renyangyang Wen, and Anqi Wu. 2023. R&D Manipulation and Audit Fees. Auditing Research (2) 99-111. (in Chinese) |
| 23. | Xin Pang and Kemin Wang. 2020. The motivations and effects of local SOEs' holding of commercial banks. Economic Theory and Business Management (9) 88-101. (in Chinese) |
| 24. | Qiong Wang, Dongdong Li, and Kemin Wang. 2020. Transport infrastructure and corporate cash holding: perspectives from market competition and investment opportunities. Accounting Research (4) 88-99. (in Chinese) |
| 25. | Kemin Wang, Huajie Wang, Dongdong Li, and Xingyun Dai. 2018. Complexity of annual report and management self-interest: empirical evidence from Chinese listed firms. Management World 34(12) 120-132. (in Chinese) |
| 26. | Huajie Wang and Kemin Wang. 2018. Accrual management and tone management. Accounting Research (4) 45-51. (in Chinese) |
| 27. | Linrong Chen, Yizheng Qiu, and Kemin Wang. 2018. A research on the R&D expenditure behaviors during implementation of the stock option incentive scheme. Science Research Management 39(2) 86-93. (in Chinese) |
| 28. | Jing Liu and Kemin Wang. 2018. Peer effect on corporate R&D: Evidence from China. Economic Theory and Business Management (1) 21-32. (in Chinese) |
| 29. | Kemin Wang, Jing Liu, and Xiaoxi Li. 2017. Industrial policy, government support and corporate investment efficiency. Management World (3) 113-124. (in Chinese) |
| 30. | Jing Liu, Xiaoxi Li, Xiaowei Weng, and Kemin Wang. 2016. Family founder's work experiences and corporate risk-taking. Economic Theory and Business Management (8) 33-46. (in Chinese) |
| 31. | Xiaoxi Li, Jing Liu, and Kemin Wang. 2016. On family firm founders' work experiences and corporate financial conservatism. Journal of Finance and Economics 42(4) 92-101. (in Chinese) |
| 32. | Kemin Wang, Guochao Yang, Jing Liu, and Xiaoxi Li. 2015. A study on the scrambling for IPO resources, the government subsidies and the performances of the firm. Management World (9) 147-157. (in Chinese) |
| 33. | Xiaoxi Li, Jing Liu, and Kemin Wang. 2015. Classification shifting and core earnings anomaly of seasoned equity offerings. Accounting Research (7) 26-33. (in Chinese) |
| 34. | Kemin Wang and Bo Liu. 2014. A study on the transfer of the corporate control tight, and earnings management. Management World (7) 144-156. (in Chinese) |
| 35. | Wang, Kemin and Bo Liu. 2012. SEO performance threshold and earnings management. Management World (8) 30-42. (in Chinese) |
| 36. | Wang, Kemin and Peng Lian. 2012. The regulation on IPO earnings forecasts and earnings management of listed companies. Accounting Research (3) 72-77. (in Chinese) |
| 37. | Kemin Wang, Peng Lian. 2010. Does Sponsor Institution Improve Earnings Quality of IPO Firms?. Management World (8) 21-34,43. (in Chinese) |
| 38. | Kemin Wang, Meiguang Ji, Wei Li. 2009. Corporate Transparency and Expropriation by Large Shareholders. Nankai Businesss Review Vol.12(4) 83-91. (in Chinese) |
| 39. | Peng Lian, Kemin Wang. 2009. Review of Corporate Insider Trade. Contemporary Economic Research Vol.165(5) 69-72. (in Chinese) |
| 40. | Kemin Wang, Peng Lian, Yang Xiang. 2009. The “Origin” of Listed Companies and Earnings Quality. China Accounting Review Vol.7(1) 3-28. (in Chinese) |
| 41. | WANG Kemin, WANG Zhichao. 2007. Manager Power, Compensation and Earnings Management--Evidence from Listed Companies in China. Management World (7) 111-119. (in Chinese) |
| 42. | WANG Kemin, JI Meiguang, ZHAO Mo. 2006. Macroeconomic Environment, Corporate Governance and Financial Distress. Research on Economics and Management (9) 18-25. (in Chinese) |
| 43. | WANG Kemin, JI Meiguang. 2006. Corporate Financial Warning Forecasting: Based on the Analysis of Financial vs. Non-financial Measures of Loss Firm. Journal of Finance and Economics vol.32(7) 63-72. (in Chinese) |
| 44. | WANG Kemin, ZHAO Yuheng. 2006. Empirical Study on Efficiency in China's Capital Market. Investment Research (6) 40-43. (in Chinese) |
| 45. | WANG Kemin, LUO Yanmei. 2006. Corporate External Guaranty and Financial Distress. Jilin University Journal of Social Science 5 (5) 106-113. (in Chinese) |
| 46. | WANG Kemin, LUO Yanmei. 2006. Market Response of Corporate External Guaranty Release. China Management Studies v.1(1) 43-62. (in Chinese) |
| 47. | WANG Kemin, DU Xiaoyu. 2005. Discussion of Corporate Governance and Management Earnings Forecast. China Accounting Review vol.3(2) 355-360. (in Chinese) |
| 48. | WANG Kemin, CHEN Jingyong. 2004. Ownership Structure, Investor Protection and Corporate Performance. Management World (7) 127-133,148. (in Chinese) |
| 49. | LV Changjiang, WANG Kemin. 2002. Interaction Mechanism among Corporate Capital Structure, Dividend Policy and Managerial Ownership. Accounting Research (3) 39-48. (in Chinese) |
| 50. | LV Changjiang, WANG Kemin. 1999. Empirical Analysis of Dividend Policy of Listed Companies. Economic Research Journal (12) 31-39. (in Chinese) |
Papers in Books
Wang, Kemin and Jian Zhang.Chinese listed company's internal governance structure, ownership structure and financial distress.In .Quantitative Economics in the 21st Century (V).成都,2005.
Wang, Kemin and Lina Zhang.Financial leverage effect analysis of listed companies in China.In .Quantitative Economics in the 21st Century (IV).湖南,2004.
Teaching Materials, etc.
LV Changjiang, WANG Kemin, HAN Huibo and ZHAO Yan. 2004. Financial Management. Nankai University Press, Tianjin. (in Chinese)
Research Projects
2025.01—2029.12, Principal Investigator, Research On High-Quality Development of Capital Market Driven by Artificial Intelligence, National Natural Science Foundation of China
2024.01—2027.12, Principal Investigator, Disclosure, Investment, and financing in supply chains under economic policy uncertainty, National Natural Science Foundation of China
2022.07—2022.12, Principal Investigator, Opportunities and Challenges for China from the Evolution of the International Monetary System, National Development and Reform Commission
2020.01—2023.12, Principal Investigator, China-US Trade Disputes and Corporate Information Disclosure Strategy, National Natural Science Foundation of China
2016.01—2019.12, Principal Investigator, The Secret Trading Strategy of Informed Traders in Response to Security Regulations, National Natural Science Foundation of China
2013.01—2016.12, Principal Investigator, Negotiated Stock Transactions Premiums, Target Firm's Earnings Management and Performance, National Natural Science Foundation of China
2009.01—2011.12, Principal Investigator, Timing of Corporate Disclosures and Timing of Insider Trading: Evidence from China's Listed Companies, National Natural Science Foundation of China
2008.09—2010.06, Principal Investigator, Management Earnings Forecasts and Insider Trading: Evidence from China's Listed Companies, Shanghai Philosophy and Social Science
2006.12—2009.12, Principal Investigator, Large Shareholder' Expropriation Behaviors - An Empirical Study on Private Listed Companies in China, The Ministry of Education P.R.C
2004.04—2006.04, Principal Investigator, Investor Protection, Ownership Structure, and Corporate Performance of Listed Companies, The Ministry of Education P.R.C
2003.01—2006.12, Principal Investigator, Financial Forecasting Model Innovation, National Natural Science Foundation of China
2001.12—2004.10, Principal Investigator, Ownership Structure, Investor Protection and Corporate Performance, The Ministry of Education P.R.C
2000.05—2002.07, Principal Investigator, The Study on the Restraint System to the Manager's Corruption of State-owned Enterprise, National Natural Science Foundation of China
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