Educational Background
Doctor Degree, Quantitative Economics, Jilin University
Academic Background
2004.08——2005.08, Advanced Research Scholar, University of California, Los Angeles/California State University, Northridge, USA
1999.01——1999.09, Visiting Scholar, Nyenrode Business University, Netherlands
Awards on Research
2008.10, The 9th Shanghai Award for Outstanding Achievements in Philosophy and Social Science, Paper Category, Second Prize, The Committee of Shanghai Award for Outstanding Achievements in Philosophy and Social Science
2007.07, Eric Pan 2007 Excellent Paper Award for Young Scholars, Accounting Society of Shanghai
2006.12, Chinese Universities Humanities and Social Science Excellent Research Award, Third Prize, Ministry of Education
2003.12, Chinese Universities Humanities and Social Science Excellent Research Award, Second Prize, Ministry of Education
Awards on Teaching
2009.03, Second Prize of 2009 Shanghai College Teaching Award, Shanghai Municipal Education Commission
2009.07, The 5th Fudan University Distinguished Professor Award, Fudan University
2010.10, Fudan University Forward Faculty Scholarship for Distinguished Professor Award in 2010, Fudan University
2013.01, The first prize of Shanghai outstanding teaching achievement award, Shanghai Municipal Education Commission
Title of Honour
2005.08, Supported by Program for New Century Excellent Talents in University, Ministry of Education
2005.08, The State Council Special Allowance, State Council
Journal Papers
| 1. | Haijie Huang, Edward Lee, Changjiang Lyu, and Zhenmei (Judy) Zhu. 2024. Does firm-level political uncertainty affect the mispricing of earnings? A natural experiment through government-to-business revolving door. Abacus 60(3) 446-491.  |
| 2. | Haijie Huang, Edward Lee, Changjiang Lyu, and Yiyi Zhao. 2020. Bequest motive, information transparency, and family firm value: A natural experiment. Journal of Corporate Finance (65) 1-22. |
| 3. | 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. |
| 4. | Haijie Huang, Edward Lee, Changjiang Lyu, and Zhenmei Zhu. 2016. The effect of accounting academics in the boardroom on the value relevance of financial reporting information. International Review of Financial Analysis 45 18-30. |
| 5. | Jingjing Xu, Changjiang Lu. 2008. Accounting Conservatism: A Study of Market-Level and Firm-Level Explanatory Factors. China Journal of Accounting Research 1(1) 11-29. |
| 6. | 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. |
| 7. | Haiping Zhou, Changjiang Lu. 2007. Does Auditor Size Change Investors' Perceptions of Audit Quality. China Accounting and Finance Review vol.9(3) 67-84. |
| 8. | 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. |
| 9. | Changjiang Lyu. 2025. How does management accounting innovate in an uncertain environment?. China Management Accounting Review （4） 5-8. (in Chinese) |
| 10. | Changjiang Lyu and Kajun Sun. 2025. How does management accouniting empower technology innovation?. China Management Accounting Review 38(4) 62-66. (in Chinese) |
| 11. | Yifan, Zhang, Changjiang Lyu and Qi Lin. 2025. IPO system of STAR Board and innovation: Evidence based on the effectiveness of listing standards. Accounting Research （3） 147-162. (in Chinese) |
| 12. | Kanglong Hong, Shuai Shao, and Changjiang Lü. 2024. Actual controller’s industry expertise and company innovation. Nankai Business Review 27(6) 100-111. (in Chinese) |
| 13. | Changjiang Lyu. 2024. Management accounting innovations in the digital age. 中国管理会计 32(4) 5-7. (in Chinese) |
| 14. | Haoxue Chen, Changjiang Lv, and Linshan Fan. 2023. Social media, management earnings forecasts and capital market efficiency: evidence from investor E-interaction. Nankai Business Review 26(6) 116-127. (in Chinese) |
| 15. | Lei Yuan, Yawen Guo, Changjiang Lv, and Hong He. 2023. Research on the intelligent treasury management accounting system: evidence from the practice of Baowu management accounting. Accounting Research (4) 173-192. (in Chinese) |
| 16. | Peixin Wang and Changjiang Lyu. 2023. Can environment and economics develop together in harmony? Evidence from innovation. Nankai Business Review 26(1) 67-81. (in Chinese) |
| 17. | Yili Wu, Changjiang Lyu, and Chenkai Ni. 2022. Can the refund of uncredited value-added tax promote corporate risk-taking. Accounting Research (12) 31-44. (in Chinese) |
| 18. | Changjiang Lyu. 2022. How management accounting help firm achieve double carbon target？. China Management Accounting Review (2) 18-21. (in Chinese) |
| 19. | Linshan Fan, Changjiang Lyu, and Haoxue Chen. 2022. Can new media help alleviate the contagion effect? ——Evidence from environmental violations. Accounting Research (3) 28-46. (in Chinese) |
| 20. | Yuanzhu Ding, Yan Shen, Peilin Liu, Jinhua Li, Xuefeng He, Hong Cheng, Yunzhou Du, Yi Su, Haijian Li, Junqiang Liu, Shi Li, Shouying Liu, Li Gan, Changjiang Lyu, Hui Xu, Biliang Luo, Shiwei Yang, and Yanbin Chen. 2021. Respond to general secretary Xi Jinping’s call for writing papers to the motherland. Management World 37(9) 1-35. (in Chinese) |
| 21. | Yili Wu, Changjiang Lv, and Chenkai Ni. 2021. Value-added tax neutrality, corporate investment and valuation: evidence from the reform of uncredited VAT refund. Management World (8) 180-194. (in Chinese) |
| 22. | Ye Liu and Changjiang Lyu. 2021. Leverage trading behavior and stock return——evidence from margin trading and short selling. Accounting Research (5) 82-94. (in Chinese) |
| 23. | Huibo Han, Jilu Tong, Changjiang Lyu, and Zhaokun Bu. 2020. Shared benefits, business partnership, and management accounting innovations. China Management Accounting Review 14(4) 54-65. (in Chinese) |
| 24. | Yunjia Chen, Changjiang Lv, Haijie Huang, and Hui Ding. 2020. Why firms choose ESOPs? Evidence from market value management. Accounting Research (5) 91-103. (in Chinese) |
| 25. | Xiaowen Zhu and Changjiang Lyu. 2019. Cultivating successors of the family firm: overseas training or domestic training. Economic Research Journal (1) 68-84. (in Chinese) |
| 26. | Hui Ding, Changjiang Lv, and Yunjia Chen. 2018. Investor information capability, difference of opinion and stock price crash risk: evidence from SSE E-interaction. Management World 34(9) 161-171. (in Chinese) |
| 27. | Hang Liu and Changjiang Lyu. 2018. Strategic effect of tax avoidance: The causal impact of tax avoidance on firms’ product market performance. Journal of Financial Research (7) 158-173. (in Chinese) |
| 28. | Bailu Liu and Changjiang Lyu. 2018. Research on M&A based on long-term orientation——Evidence from Chinese family business. Accounting Research (6) 47-53. (in Chinese) |
| 29. | Haijie Huang, Changjiang Lyu, and Xiaowen Zhu. 2018. Second generation involvement and corporate innovation: evidence from China. Nankai Business Review 21(1) 6-16. (in Chinese) |
| 30. | Hui Ding, Changjiang Lyu, and Haijie Huang. 2018. Social media, investor sophistication and earning expectation: evidence from SSE E-Interaction. Economic Research Journal 53(1) 153-168. (in Chinese) |
| 31. | Yiyi Zhao and Changjiang Lyu. 2017. The research of family members' role in the board. Management World (9) 155-165. (in Chinese) |
| 32. | Xuan Liu and Changjiang Lyu. 2017. Who sign the compensation contract? Nature of contracting parties and contracting role of accounting information—— Evidence from China's local SOEs. Accounting Research (1) 75-81. (in Chinese) |
| 33. | Bailu Liu and Changjiang Lü. 2016. The effect of ownership structure among family members in Chinese family firms. Economic Research Journal (11) 140-152. (in Chinese) |
| 34. | Haijie Huang, Changjiang Lv and Hui Ding. 2016. The reputation of independent directors and earnings quality: analysis from the perspectives of independent directors with financial background. Management World (3) 128-143. (in Chinese) |
| 35. | Haijie Huang, Changjiang Lv, and Edward Lee. 2016. The influence of four trillion investment policy on firm investment efficiency. Accounting Research (2) 51-57. (in Chinese) |
| 36. | Yiyi Zhao and Changjiang Lv. 2015. Family or money?—— The impact of family relationship on compensation contract in family firms. Accounting Research (8) 32-40. (in Chinese) |
| 37. | Shao shuai and Changjiang Lv. 2015. Can the actual controllers' directly holding stocks increase the company's value?: A study from the evidence of China's private listed companies. Management World (5) 134-146. (in Chinese) |
| 38. | Changjiang Lv and Huibo Han. 2014. VAM, synergy and distribution of gains from M&A. Journal of Audit & Economics (6) 3-13. (in Chinese) |
| 39. | Changjiang Lv and Shuai Shao. 2014. The effect of the sticky knowledge on the economic growth in China: Based on spatial econometrics models using Chinese provincial data. China Management Review (1) 25-49. (in Chinese) |
| 40. | Xiaowei Wong, Keming Wang, and Changjiang Lv. 2014. The influence of the family involvement in management on IPO under-pricing. Management World (1) 156-166. (in Chinese) |
| 41. | Xu, Jingjing and Changjiang Lv. 2013. Correlation between valuation role and incentive role of accounting information——Discussion based on analytical model. Accounting Research (5) 11-18. (in Chinese) |
| 42. | Changjiang Lv and Haiping Zhang. 2012. The effect of listed company's incentive plan for stock option on the policy about the distribution of the money paid for shares. Management World (11) 133-143. (in Chinese) |
| 43. | Zhou, Xianhua, Qingquan Fan, Changjiang Lv, and Xin Zhang. 2012. Foreign shareholder and dividend payout: Based on China's empirical evidence. The Journal of World Economy 35(11) 112-140. (in Chinese) |
| 44. | Han, Huibo, Changjiang Lv, and Ran Li. 2012. Inefficient pricing, managerial stock incentives and stock dividends. Journal of Finance and Economics 38(10) 47-56,100. (in Chinese) |
| 45. | Xin, Yu and Changjiang Lv. 2012. Incentive, welfare, or reward: the dilemma of stock-option-incentive plan in state-owned enterprises. Accounting Research (6) 67-75. (in Chinese) |
| 46. | Lv, Changjiang and Haiping Zhang. 2011. The effect of the equity incentive plans on corporate investment behaviors. Management World (11) 118-126. (in Chinese) |
| 47. | Chen, Ce and Changjiang Lv. 2011. Different board's influence on accounting conservatism---Empirical study of Chinese private enterprises from motherboard and small-and-medium enterprise board. Accounting Research (9) 32-39. (in Chinese) |
| 48. | Zhang, Haiping and Changjiang Lv. 2011. Stock option awards and accounting policy choices: Analysis based on asset impairment accounting. Journal of Finance and Economics 37(7) 60-70. (in Chinese) |
| 49. | Xiao, Chengmin and Changjiang Lv. 2011. Market regulation, earnings distribution change and earnings management: A comparative analysis of ST and SEO regulation. Nankai Business Review 14(1) 138-147. (in Chinese) |
| 50. | Jingjing Xu, Changjiang Lv. 2011. Executive Property and Earnings Quality in Family Firms: Evidences from Chinese Listed Companies. Management World (1) 112-120. (in Chinese) |
| 51. | Jingjing Xu, Changjiang Lv. 2011. The Correlation between Executive Compensation and Accounting Performance in Family Firms. Journal of Management Accounting Studies (1) 11-24. (in Chinese) |
| 52. | Chengmin Xiao, Changjiang Lv. 2010. Is the Accounting Conservatism of China's Listed Companies Caused by Earnings Manipulation? Evidence Based on Different Aggregation Methods of Quarterly Earnings. Accounting Research (9) 17-24. (in Chinese) |
| 53. | Hetong Lou, Huilian Zheng, Haiping Zhang, Changjiang Lv. 2010. The Conflicts between Income Tax Regulations of Executive Equity Incentives and Incentive Effect. Journal of Finance and Economics vol.36(9) 37-47. (in Chinese) |
| 54. | Changjiang Lv. 2010. Stock Option Incentive Plan, Not Welfare. PKU Business Review Vol.67 104-109. (in Chinese) |
| 55. | Changjiang Lv, Jingjing Xu. 2010. Dividend Signaling Effect: From the View of Dividend Change Announcement. Nankai Business Review Vol.13(2) 90-96. (in Chinese) |
| 56. | Changjiang Lv, Xianhua Zhou. 2009. Investor Protection, Ownership Concentration and Expropriation. Quarterly Journal of Finance Vol.5(1) 39-64. (in Chinese) |
| 57. | Changjiang Lu, Na Gong. 2009. Accounting Treatment of Stock Option Incentive and its Economic Consequences-- A Case Study Based on Yili Industrial Group. Accounting Research (5) 53-61. (in Chinese) |
| 58. | Changjiang Lu, Yuheng Zhao. 2009. The Incentive Effect of State Owned Enterprise Manager -Based on the Explanation of Managerial Power Perspective. Labor Economy and Labor Relations (2) 52-66. (in Chinese) |
| 59. | Changjiang Lu, Yuheng Zhao. 2008. The Incentive Effect of State Owned Enterprise Manager -Based on the Explanation of Managerial Power Perspective. Management World (11) 99-109. (in Chinese) |
| 60. | Changjiang Lu, Yubiao Zhang, Chengmin Xiao. 2008. Corporate Governance, Expropriation and Corporate Performance. Accounting Forum (1) 22-39. (in Chinese) |
| 61. | LV Changjiang, XIAO Chengmin. 2007. The Conditional Analysis of the Ultimate Controlling Shareholder Expropriate Minority Shareholder：The Extend of LLSV Model. Accounting Research 10 82-86. (in Chinese) |
| 62. | LV Changjiang, SONG Dalong. 2007. Long-term Performance of Corporate Control Right Transfer. Journal of Shanghai Lixin University of Commerce 5 48-56. (in Chinese) |
| 63. | LV Changjiang, ZHAO Yuheng. 2007. Survival Analysis on ST Firm Restructuring. Research on Financial and Economic Issues 06 86-91. (in Chinese) |
| 64. | LV Changjiang, JIN Chao and HAN Huibo. 2007. Capital Structure, Manager Expropriation and Firm Performance. Journal of Finance and Economics .05 50-61. (in Chinese) |
| 65. | LV Changjiang, JIN Chao and CHEN Ying. 2007. The Influence of Leverage on Corporate Growth: Active or Passive?. Research on Financial and Economic Issues 2 80-85. (in Chinese) |
| 66. | ZHOU Haiping, LV Changjiang. 2007. Does Auditor Size Change Investors' Perceptions of Audit Quality?. China Accounting and Finance Review 2007.03 47-84. (in Chinese) |
| 67. | Changjiang Lu, Chengmin Xiao. 2007. The Ownership Structure Arrangement and Behavior of “Tunneling” in Private Listed Companies-Based on Case Study of Sunshine Group. 投资与证券（人大复印资料） (2) 84-93. (in Chinese) |
| 68. | LV Changjiang, XIAO Chengmin. 2006. The Ownership Structure Arrangement and Behavior of “Tunneling” in Private Listed Companies-Based on Case Study of Sunshine Group. Management World 10 128-138. (in Chinese) |
| 69. | LV Changjiang, ZHOU Xianhua. 2006. A Positive Research on China Insurance Company Insolvency. Journal of Finance and Economics 10 80-91. (in Chinese) |
| 70. | LV Changjiang, ZHAO Yuheng. 2006. Empirical Analysis on ST Company Life Track. Economic Management 4 44-51. (in Chinese) |
| 71. | LV Changjiang, ZHOU Xianhua. 2005. Corporate Governance and Payout Incentive-Based on Agency Cost and Tunneling. Nankai Business Review vol.8（3） 9-17. (in Chinese) |
| 72. | LV Changjiang, ZHAO Yan. 2004. On the Financial Position Classification of Listed Companies. Accounting Research （11） 53-62. (in Chinese) |
| 73. | LV Changjiang, WANG Libin. 2004. Corporate Board Structure and Performance. Research on Financial and Economic Issues （10） 65-73. (in Chinese) |
| 74. | LV Changjiang, XU Lili and ZHOU Lin. 2004. Comparative Analysis of Corporate Financial Distress and Financial Bankruptcy. Economic Research （8） 64-73. (in Chinese) |
| 75. | LV Changjiang, HAN Huibo. 2004. Corporate Financial Distress, Financial Distress Indirect Cost and Performance. Nankai Business Review vol.7（3） 80-85. (in Chinese) |
| 76. | LV Changjiang, ZHAO Yan. 2004. The Survival Analysis of Chinese Special Treatment Firms. Chinese Accounting Review （2） 32-46. (in Chinese) |
| 77. | LV Changjiang, HAN Huibo. 2003. Comparative Influence of Dividends and Earnings Information on A, B Share Market. Chinese Accounting Review vol.（1） 62-76. (in Chinese) |
| 78. | LV Changjiang, ZHAO Yan. 2003. Study on the Existence of Beta Coefficient and Its Related Characteristic in Securities Market. Nankai Business Review （1） 35-43. (in Chinese) |
| 79. | LV Changjiang, ZHANG Yanqiu. 2002. The Influence of Corporate Financial Situation on Agency Cost of Debt. The Journal of Quantitative & Technical Economics （12） 108-112. (in Chinese) |
| 80. | LV Changjiang. 2002. Comparative Analysis of Cash Dividend and Share Dividend. Economic Management （6） 80-84. (in Chinese) |
| 81. | LV Changjiang, WANG Kemin. 2002. Interaction Mechanism among Corporate Capital Structure, Dividend Policy and Managerial Ownership. Accounting Research （3） 39-48. (in Chinese) |
| 82. | LV Changjiang, WANG Kemin. 1999. Empirical Analysis of Dividend Policy of Listed Companies. Economic Research Journal （12） 31-39. (in Chinese) |
Translated Works
Liyan Wang, Changjiang Lv, Zhiyuan Liu, Yunguo Liu, Guliang Tang, Zezhong Xiao, Wei Luo, Yuming Hu, Jianqiao Hong, Yuanlue Fu, Fei Pan, Handbook of Management Accounting Research (Volume 1),Beijing,China Renmin University Press,2009.12 (in Chinese)
LV Changjiang, Advanced Management Accounting,Dalian,Dongbei University of Finance and Economics Press,2007.05 (in Chinese)
LV changjiang, Financial Accounting: Reporting & Analysis,Beijing,Economic Science Press,2007.03 (in Chinese)
Teaching Materials, etc.
LV Changjiang, HAN Huibo and ZHAO Yan. 2006. Management Accounting. Fudan University Press, Shanghai. (in Chinese)
LV Changjiang, WANG Kemin, HAN Huibo and ZHAO Yan. 2004. Financial Management. Nankai University Press, Tianjin. (in Chinese)
Research Projects
2025.01—2028.12, Principal Investigator, Research on IPO System of the Science and Technology Innovation Board and Its Economic Consequences, National Natural Science Foundation of China
2017.01—2020.12, Principal Investigator, The Effect of Investor Sophistication on Market Efficiency under Environment of Information Technique, National Natural Science Foundation of China
2015.07—2018.07, Principal Investigator, , Accounting Expert Training Project
2014.01—2017.12, Principal Investigator, Family Firm Governance Structure, Executives Incentives Mechanism and Accounting Information Quality, National Natural Science Foundation of China
2010.03—2010.12, Member, Study on Capital of Roject South to North Water Diverstion, Construction Committee of Project South to North Water Diversion in State Council
2009.01—2011.12, Principal Investigator, Study on the Negative Effect of Corporate Executives Stock Option---Based on Accounting Choices and Insider Tradings, National Natural Science Foundation of China
2008.08—2010.07, Principal Investigator, Study on Corporate CEO Stock Option System, Shanghai Planning Office of Philosophy and Social Science
2007.01—2010.12, Member, Evaluation Theories and Methods for Investors' Interests, Key Project of National Science Foundation of China
2006.01—2008.12, Principal Investigator, Ownership Structure, Expropriation of Minority Shareholders and Firm Value, National Natural Science Foundation of China
2006.01—2008.12, Principal Investigator, Research on Corporate Executive Incentive and Compensation, Ministry of Education of China
2004.03—2005.12, Principal Investigator, Research on Corporate Financial Position Classification and Early Forecasting, Ministry of Finance of China
2002.05—2003.12, Principal Investigator, Research on Two Stages of Corporate Financial Early Forecasting, National Planning Office of Philosophy and Social Science
Academic Posts
2007.01—,Editor Board,Accounting Research
2007.01—,Member of Editorial Board,China Journal of Accounting Research
2007.01—,Editor Board,Contemporary Accounting Review
2002.01—,Committee Member,Chinese Accounting Review
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