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Fang Junxiong

Department of Accounting
Room 301, Siyuan Building
Research Field:Accounting and Capital Market Research, Auditing and Capital Market Research, Institutional Environment and Capital Allocation

Educational Background
Ph.D, Accounting, Fudan University
Bachelor, Auditing, Xiamen University

Academic Background
2013.08--2013.12, Visiting Scholar, MIT Sloan School of Management, USA
2003.08--2003.11, Research Assistant, City University of Hong Kong, HK

Awards on Research
2018.10, The 14th Shanghai Award for Outstanding Achievements in Philosophy and Social Science, First Prize The Committee of Shanghai Award for Outstanding Achievements in Philosophy and Social Science
2012.07, 2011 Excellent Paper Award of Accounting Society of China, Second Prize Accounting Society of China
2012.05, Eric Pan 2011 Excellent Paper Award for Young Scholars, Accounting Society of Shanghai
2011.11, Excellent Paper Award of the First Academic Forum of Securities Market Herald, First Prize The Editorial Department of Securities Market Herald
2011.05, Eric Pan 2010 Excellent Paper Award for Young Scholars, Accounting Society of Shanghai
2010.06, Excellent Paper Award (2009), Accounting Society of China, Second Prize Accounting Society of China
2009.05, Eric Pan 2008 Excellent Paper Award for Young Scholars, Accounting Society of Shanghai
2007.06, Excellent Paper Award, First Prize Accounting Society of China
2007.05, Eric Pan 2004 Excellent Paper Award for Young Scholars, Accounting Society of Shanghai
2006.12, Excellent Paper at the Conference of Shanghai Social Sciences Association, First Prize The Committee of the Conference of Shanghai Social Sciences Association
2005.04, Eric Pan 2004 Excellent Paper Award for Young Scholars, Accounting Society of Shanghai
2004.02, Excellent Research Achievement Award, Third Prize Stock Exchange of Shenzhen

Journal Papers
1. Jian Chu, Junxiong Fang, Jeong-Bon Kim, and Yi Zhou2019Are managers punished for crash risk? Evidence from ChinaChina Accounting and Finance Review 21(4) 109-146 
2. Andrew M. Bauer, Junxiong Fang, Jeffrey Pittman, Yinqi Zhang, and Yuping Zhao2019How aggressive tax planning facilitates the diversion of corporate resources: Evidence from path analysisContemporary Accounting Research forthcoming 1-58 
3. Jian Chu, Junxiong Fang, Jeong-Bon Kim, and Yi Zhou2019Stock price crash risk and auditor-client contractingChina Journal of Accounting Studies 7(2) 184-213 
4. Junxiong Fang, Lerong He, and Tara Shankar Shaw2018The effect of external auditors on managerial slackAccounting Horizons 32(4) 85-115 
5. Junxiong Fang, Lerong He, and Martin J. Conyon2018The CEO horizon problem and managerial slack in ChinaManagement and Organization Review 14(2) 343-376 
6. Junxiong Fang, Gerald J. Lobo, Yinqi Zhang, and Yuping Zhao2018Auditing related party transactions: evidence from audit opinions and restatementsAuditing: A Journal of Practice & Theoryory 37(2) 73-106 
7. He Lerong, Tara Shankar Shaw, and Junxiong Fang2017Managerial labor market during institutional transition: A study of CEO compensation and voluntary turnoverCorporate Governance: An International Review 25(3) 167-185 
8. Junxiong Fang, Jeffrey Pittman, Yinqi Zhang, and Yuping Zhao2017Auditor choice and its implications for group-affiliated firmsContemporary Accounting Research 34(1) 39–82 
9. Lerong He and Junxiong Fang2016Subnational institutional contingencies and executive pay dispersionAsia Pacific Journal of Management 33(2) 371-410 
10. Lerong He and Junxiong Fang2016CEO overpayment and dismissal: The role of attribution and attentionCorporate Governance: An International Review 24(1) 24-41 
11. Junxiong Fang, In-Mu Haw, Veicheng Yu, and Xu Zhang2014Positive externality of analyst coverage upon audit services: evidence from ChinaAsia-Pacific Journal of Accounting & Economics 21(2) 186-206 
12. Fang, Junxiong, Haina Shi, and Haoping Xu2012The determinants and consequences of IPOs in a regulated economy: Evidence from ChinaJournal of Multinational Financial Management 22(4) 131-150 
13. Jian Chu and Junxiong Fang2019Relaxation of short selling constraint and improvement of internal control quality: evidence from margin trading and short selling program in ChinaFinance and Trade Research (5) 80-91(in Chinese) 
14. Xuan Qin, Xiaoqi Zhu, and Junxiong Fang2019Long-term impact of economic conditions on CFOs’ judgment and accounting information qualityForeign Economies & Management (9) 1-13(in Chinese) 
15. Weiqian Zhang and Junxiong Fang2019Externality of debt default and the impact on innovative investmentSecurities Market Herald (9) 31-40(in Chinese) 
16. Jian Chu and Junxiong Fang2019Can the relaxation of short selling constraint improve firms’ labor investment efficiency?Foreign Economics & Management (7) 1-13(in Chinese) 
17. Jing Chen, Junxiong Fang, and Xuan Qin2019Transportation development, regional factor flow and innovation——based on the Quasi natural experiment of high-speed rail commencementEconomic Theory and Business Management (4) 20-34(in Chinese) 
18. Xuan Qin, Junxiong Fang, and Chuanrong Yu2019Stock price crash and CEO turnoverFinance Research (2) 45-59(in Chinese) 
19. Jing Chen, Junxiong Fang, and Jindan Zhang2019The spillover effect of innovation in ChinaQuarterly Journal of Finance 13(1) 1-32(in Chinese) 
20. Jian Chu, Xuan Qin, and Junxiong Fang2019Margin-trading, short-selling and analysts' forecast optimismManagement World (1) 151-166(in Chinese) 
21. Jing Chen, Junxiong Fang, and Xuan Qin2018Will analysts following improve corporate labor investment efficiency?Review of Investment Studies 37(12) 80-99(in Chinese) 
22. Jian Chu, Xuan Qin, and Junxiong Fang2018Economic policy uncertainty and auditors' decisions——evidence based on audit feesAccounting Research (12) 85-91(in Chinese) 
23. Junxiong Fang and Xuan Qin2018The relief of executive professional risk and improvement of innovation decision——based on the evidence of D&O insuranceInsurance Studies (11) 54-70(in Chinese) 
24. Jian Chu, Junxiong Fang, and Xuan Qin2018Can government auditing promote SOEs' innovation?Journal of Audit & Economics (6) 10-21(in Chinese) 
25. Jian Chu and Junxiong Fang2018Does government auditing improve the CSOEs' internal control quality?Journal of Accounting and Economics 32(5) 18-39(in Chinese) 
26. Jian Chu and Junxiong Fang2018Relaxation of short selling constraint and managerial excess perkQuarterly Journal of Finance 12(3) 28-48(in Chinese) 
27. Chuanrong Yu and Junxiong Fang 2018Economic policy uncertainty and corporate financing deteriorationFinance Research (4) 3-14(in Chinese) 
28. Junxiong Fang, Qiong Wu, and Qi Fu2018Limited attention, competing information and market reaction to recommendationJournal of Financial Research (7) 193-206(in Chinese) 
29. Yu Chen and Junxiong Fang2018Preferential policy: pie or trap?——study the effect of PPE accelerated depreciation tax policy on investmentSecurities Market Herald (6) 32-41(in Chinese) 
30. Jing Chen, Jindan Zhang, and Junxiong Fang2018Does corporate debt default influence audit fee?Finance & Trade Economics (5) 71-87(in Chinese) 
31. Jian Chu, Junxiong Fang, and Chuanrong Yu2017Deregulation on short selling constraints and bank loan decisionJournal of Financial Research (12) 111-126(in Chinese) 
32. Chuanrong Yu, Junxiong Fang, and Mianzhi Yang2017Are executives punished for stock price crash risk?Economic Management Journal 39(12) 136-156(in Chinese) 
33. Weiqian Zhang and Junxiong Fang2017Does debt default inhibit firm innovation?Industrial Economics Research (5) 1-11(in Chinese) 
34. Chuanrong Yu, Ruoqi Wang, and Junxiong Fang2017Has China's new labor contract law improved the innovative activities of listed companiesEconomic Theory And Business Management (9) 87-100(in Chinese) 
35. Weiqian Zhang and Junxiong Fang2017Regional corruption and the selection of corporate earnings management stylesJournal of Shanxi University of Finance and Economics 39(9) 115-124(in Chinese) 
36. Jian Chu and Junxiong Fang2017Does firms’ stock price crash risk affect audit fees?Foreign Economics & Management 39(9) 83-97(in Chinese) 
37. Weiqian Zhang and Junxiong Fang2017Research on the spill-over effects of extreme optimistic opinions of securities analystsSecurities Market Herald (9) 42-49(in Chinese) 
38. Hong Luo, Junxiong Fang, Yongliang Zeng, and Dawei Zhou2017Does aggregate earnings effectively predict future inflation?Economic Review (6) 1-15(in Chinese) 
39. Jian Chu and Junxiong Fang2017The external governance effect of government auditing: Evidence from firms' stock price crash riskJournal of Finance and Economics 43(4) 133-145(in Chinese) 
40. Jian Chu, Junxiong Fang, and Weiqian Zhang2017Does corruption exacerbate firms' crash riskQuarterly Journal of Finance 11(1) 26-45(in Chinese) 
41. Qiong Wu, Junxiong Fang, and Jian Chu2016Customer concentration and the stock price informativeness of listed firms: Evidence from stock price synchronicityReview of Investment Studies 35(11) 4-21(in Chinese) 
42. Junxiong Fang, Jian Chu, and Shiting Chen2016The impact of stock price crash risk on audit opinionsChina Accounting Review 14(3) 317-344(in Chinese) 
43. Chu Jian and Junxiong Fang2016Can government auditing constrain unexpected perks of SOEs’ executive?Accounting Research (9) 82-89(in Chinese) 
44. Junxiong Fang, Chuanrong Yu, Ruoqi Wang, and Mianzhi Yang2016Pay-performance sensitive compensation contract of top management and innovation activities of firmsIndustrial Economics Research (4) 51-60(in Chinese) 
45. Jian Chu and Junxiong Fang2016Does customer concentration raise or reduce firms' crash riskEconomic Theory and Business Management (7) 44-57(in Chinese) 
46. Weiqian Zhang and Junxiong Fang2016Regional corruption, corporate ownership and top managers' corruptionJournal of Accounting and Economics 30(3) 3-24(in Chinese) 
47. Weiqian Zhang, Junxiong Fang, and Qiong Wu2016Regional corruption and investment efficiency: Overinvestment or underinvestment?On Economic Problems (5) 62-66,79(in Chinese) 
48. Jian Chu and Junxiong Fang2016Margin-trading, short-selling and the deterioration of crash riskEconomic Research Journal (5) 143-158(in Chinese) 
49. Hong Luo, Yongliang Zeng, Junxiong Fang, and Dawei Zhou2016The macro predictability of accounting information: Base on the institutional environment in China Accounting Research (4) 9-18(in Chinese) 
50. Junxiong Fang2016Split-share structure reform and earning management between Pre-IPO and Post-IPOSecurities Market Herald (2) 28-37,77(in Chinese) 
51. Junxiong Fang, Dawei Zhou, Hong Luo, and Yongliang Zeng2015Accounting information and macro analysts’ economic forecasts China Accounting Review 13(4) 389-412(in Chinese) 
52. Ling Ling and Junxiong Fang2015Who pays for the media silence?Accounting Forum 14(1) 3-21(in Chinese) 
53. Junxiong Fang2015The information disclosure, the control of environment, and the alienation of the media: Our initial finding based on the paid silence in IPOFinance & Accounting Guide (RUC) (2) 34-46(in Chinese) 
54. Junxiong Fang2014The information disclosure, the control of environment, and the alienation of the media: Our initial finding based on the paid silence in IPOManagement World (11) 95-104(in Chinese) 
55. Ling Ling and Junxiong Fang2014The empirical research of the influence of corporate governance and governance environment on insider tradingSecurities Market Herald (6) 63-68(in Chinese) 
56. Fang, Junxiong2012Between excess payment to top managers and corporate governance decisionsManagement World (11) 144-155(in Chinese) 
57. Fang, Junxiong2012Corporate investment decision-making convergence in China: Herd behavior or wave phenomenon?Journal of Finance and Economics 38(11) 92-102(in Chinese) 
58. Fang, Junxiong2012Banking structure, SME credit and economic growthAccounting and Economics Research 26(2) 13-22(in Chinese) 
59. Fang, Junxiong2012Pre-IPO equity investments by investment banks: Certification or loss of independence?Securities Market Herald (1) 59-69(in Chinese) 
60. Fang, Junxiong2011Study on the effectiveness of reputation mechanism in a transitional economy: Evidence from China's audit marketJournal of Finance and Economics 37(12) 16-26,38(in Chinese) 
61. Fang, Junxiong2011Has the proportion of labor income really been reduced simultaneously?-Evidence from the listed companies in China Theory and Practice in Socialist Economy (10) 88-100(in Chinese) 
62. Fang, Junxiong and Fang Fang2011Over-funding in IPO and capital misuse in China's marketSecurities Market Herald (09) 37-42,50(in Chinese) 
63. Fang, Junxiong2011Asymmetry between top management power and changes of enterprises compensationEnterprise Management (7) 74-87(in Chinese) 
64. Fang, Junxiong2011Has the proportion reached by the income obtained by labor been declining?---My discovery from China's listed companiesManagement World (7) 31-41(in Chinese) 
65. Fang, Junxiong2011Government regulation, maketization and market share of private companiesIndustrial Economics Research (4) 17-25,60(in Chinese) 
66. Fang, Junxiong2011Managerial power and asymmetry of compensation change in China's public companiesEconomic Research Journal (4) 107-120(in Chinese) 
67. Fang, Junxiong2011The corporate donations and economic rationality: Re-examination of donations of Chinese listed companies after wenchuan earthquakeJournal of Shanghai Lixin University of Commerce (1) 17-26(in Chinese) 
68. Fang, Junxiong and Fang Fang2010IPO market-oriented reform and the over financing Securities Market Herald (12) 39-45(in Chinese) 
69. Junxiong Fang2010Do Private Listed Companies Really Suffer from Banks' Discrimination?Management World (11) 123-131(in Chinese) 
70. Junxiong Fang2010Study on Economic Consequences of Deregulation in China's Audit Market: Evidence from B-share Audit MarketJournal of Finance and Economics vol.36(7) 70-80(in Chinese) 
71. Junxiong Fang2010Deregulation of Dual-audit Regulation and the Market ReactionThe Chinese Certified Public Accountant (6) 34-38(in Chinese) 
72. Junxiong Fang2010Shredded Reputation, Independence and Market ReactionJournal of Shanghai Lixin University of Commerce Vol.24(2) 52-64(in Chinese) 
73. Junxiong Fang2010The Economic Consequences of the Regulation on Audit Fee Disclosure-Evidence form China's Audit MarketChina Accounting and Finance Review Vol.12(1) 109-145(in Chinese) 
74. Junxiong Fang2009Regulated Changes in Audit Fee Disclosure and Improvement of Audit Environment: Evidence from China's Auditing MarketChina Accounting Review Vol.7(4) 455-470(in Chinese) 
75. Junxiong Fang ,Xiaoxi Xiang 2009Exterior Supervision, Regulation Environment and Information Disclosure QualitySecurities Market Herald  58-63(in Chinese) 
76. Junxiong Fang2009Market Segmentation and the Efficiency Loss of Resource Allocation: Evidence from Mergers & Acquisitions of EnterprisesJournal of Finance and Economics 35(9) 36-47(in Chinese) 
77. Junxiong Fang2009Economic Consequence of Internationalization of Accounting Standards: Evidence from China China Management Studies Vol.4(3) 16-40(in Chinese) 
78. Jianqiao Hong, Junxiong Fang2009Audit Committee Mechanisms and the Improvement of Earnings QualityNankai Business Review 12(4) 107-112(in Chinese) 
79. Junxiong Fang2009The Cost of Damaged Reputation of Independent AuditorsJournal of Business Economics 214(8) 89-96(in Chinese) 
80. Junxiong Fang2009The Economic Consequence of Corporate DonationsEconomic Management Journal 31(7) 172-176(in Chinese) 
81. Junxiong Fang2009Market Reaction to Damaged Reputation of Independent Auditors: Further Study on the Zhongtianqin CaseContemporary Accounting Review Vol.2(1) 61-76(in Chinese) 
82. Junxiong Fang2009Auditing failure: loss of independence or competence?Modern Accounting (5) 52-54(in Chinese) 
83. Junxing Fang2009The methodology of quality empirical accounting research: combination of normative and positive methodFriends of Accounting (4-II) 19-23(in Chinese) 
84. Junxiong Fang2009Going public and the relief of corporate constraints in financingShanghai Management Science Vol.31(2) 15-21(in Chinese) 
85. Junxiong Fang2009Is top management compensation of Chinese public companies sticky?Economic Research Journal (3) 110-124(in Chinese) 
86. Junxiong Fang2009Research on the profession reputation mechanism of independent auditingThe Chinese Certified Public Accountant (3) 34-38(in Chinese) 
87. Junxiong Fang2009Property, marketization and operational performanceIndustrial Economic Research (2) 17-24(in Chinese) 
88. Junxiong Fang2008The government intervention, the nature of ownership and enterprises' mergers & acquisitionsManagement World (9) 118-123,148(in Chinese) 
89. Junxiong Fang2007Ownership, institutional environment and capital allocationEconomic Research Journal vol.42 82-91(in Chinese) 
90. FANG Junxiong2007The Ownership, the Process of General Adoption of the Market Principle and the Efficiency of Capital AllocationManagement World (11) 27-35(in Chinese) 
91. FANG Junxiong2007The Transparency of Information Disclosure of Listed Company and the Prediction of Securities AnalystJournal of Financial Research (6) 136-147(in Chinese) 
92. FANG Junxiong2006Evolvement of Marketization and Improvement of Capital Allocation EfficiencyEconomic Research Journal (5) 50-60(in Chinese) 

Academic Works
Junxiong Fang. 2010. The reason, analysis and solution of enterprise's going concern crisis---Theoretical analysis and empirical research based on China's public companies. Fudan University Press, Shanghai, China.  (in Chinese)
FANG Junxiong. 2005. The principle of enterprise survival or death. China Times Economic Press, Beijing, China.  (in Chinese)
LI Ruoshan, ZHOU Qinye, FANG Junxiong. 2003. Is CPA policeman?. China Finance and Economy Press, Beijing, China.  (in Chinese)
LI Ruoshan, FANG Junxiong. 2003. Essential of financial statement analysis. China Times Economic Press, Beijing, China.  (in Chinese)

Research Projects
2019.01—2022.12, Principal Investigator, The Study on Economic Consequence of Stock Crash and Remedy Strategy in China's Market, National Natural Science Foundation of China
2014.01—2017.12, Principal Investigator, Institutional Environment, Corporate Governance and CEO Governance, National Natural Science Foundation of China
2011.01—2013.12, Principal Investigator, Government Control, Marketization and the Effeciency of Top Management Compensation Contract in China, National Natural Science Foundation of China
2009.01—2011.12, Principal Investigator, Research on the relationship between institutional investors and information efficiency in China, Humanities and Social science research project (ministry of education of China )
2007.01—2009.12, Principal Investigator, Research on the economic consequence of CPAs' professional reputation in China, National nature science foundation of China

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