Wenyu Wang
Finance Department, Kelley School of Business, Indiana University Address: 1309 E 10TH ST, Bloomington, IN 47405-1701
Offce Phone: 1-812-855-0189 Email: wenywang@iu.edu
Academic Webpage: https://sites.google.com/site/wenyu59/ Last update: September, 2024
RESEARCH INTERESTS
Corporate control and restructuring ◦ Corporate governance ◦ Structural estimation
ACADEMIC EMPLOYMENT
Indiana University at Bloomington, Kelley School of Business
Professor of Finance, 2024 — Present
Peterson Chair in Investment Banking, 2022 — Present Associate Professor of Finance (with tenure), 2019 — 2024 Daniel C. Smith Faculty Fellow, 2020 — 2022
Assistant Professor of Finance, 2013 — 2019
Carnegie Mellon University, Tepper School of Business Visiting Associate Professor, Spring 2022
EDUCATION
University of Pennsylvania, The Wharton School Visiting doctoral student, 2011 - 2013
University of Wisconsin – Madison, School of Business
Ph.D. in Finance, 2009 - 2013
M.S. in Quantitative Finance, 2007 - 2008
Tsinghua University, Beijing
B.S. in Computer Engineering, 2000 - 2004
PUBLICATIONS (* paper published after tenure)
1. Ignorance Is Bliss: The Screening Effect of (Noisy) Information, with Felix Feng, Yufeng Wu, and Gaoqing Zhang.
The Accounting Review, forthcoming.
2. Human Capital Portability and Worker Career Choices: Evidence from M&A Bankers, with Janet Gao and Yufeng Wu.
Review of Financial Studies, forthcoming.
3. Big Fish in Small Ponds: Human Capital Mobility and the Rise of Boutique Banks, with Janet Gao and Xiaoyun Yu
Management Science, forthcoming.
4. Simultaneous Debt-Equity Holdings and the Resolution of Financial Distress, with Yongqiang Chu, Ha Diep-Nguyen, Jun Wang, and Wei Wang.
Review of Corporate Finance Studies, forthcoming.
5. Acquiring Innovation Under Information Frictions, with Murat Celik and Xu Tian Review of Financial Studies (2022), 35(10): 4474-4517 .
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6. Dissecting Bankruptcy Frictions, with Winston Dou, Lucian Taylor, and Wei Wang Editor’s choice, Journal of Financial Economics (2021), 142(3): 975-1000.
Winner of Jacobs Levy Center Outstanding Research Paper Prize. Editor’s choice, Journal of Financial Economics.
7. Hard Marriage with Heavy Burdens: Organized Labor as Takeover Deterrents, with Xuan Tian Review of Corporate Finance Studies (2021), 10(2): 306-346.
8. Weak Governance by Informed Active Shareholders, with Eitan Goldman Review of Financial Studies (2020), 34(2): 661-699.
9. Managerial Control Benefts and Takeover Market Effciency (was titled ”Why Are Underperform-ing Firms Rarely Acquired?”), with Yufeng Wu
Journal of Financial Economics (2020) 136(3): 857-878.
10. Ineffciencies and Externalities from Opportunistic Acquirers, with Di Li and Lucian Taylor Journal of Financial Economics (2018), 130(2): 265-290.
11. Corporate Innovation Along the Supply Chain, with Yongqiang Chu and Xuan Tian Featured article, Management Science, (2018), 65(6): 2445-2466.
12. Bid Anticipation, Information Revelation, and Merger Gains Journal of Financial Economics (2018), 128(2): 320-343.
13. Imperfect Accounting and Reporting Bias, with Vivian Fang and Allen Huang Journal of Accounting Research (2017), 55(4): 919-962.
14. Durable Goods, Infation Risk, and Equilibrium Asset Prices, with Bjørn Eraker and Ivan Shalias-tovich. Review of Financial Studies (2016), 29(1): 193-231.
WORKING PAPERS
1. The Incentives of SPAC Sponsors, with Felix Feng, Tom Nohel, Xuan Tian, and Yufeng Wu. Reject-and-Resubmit, Journal of Financial Economics.
2. Steering Labor Mobility through Innovation, with Song Ma and Yufeng Wu. 3. Everlasting Fraud, with Vivian Fang, Nan Li, and Gaoqing Zhang.
4. The Cost of Intermediary Market Power for Distressed Borrowers, with Winston Dou and Wei Wang.
5. See the Gap: Firm Returns and Shareholder Incentives, with Eitan Goldman and Jinkyu Kim.
SEMINARS, CONFERENCE PRESENTATIONS AND DISCUSSIONS (pp) paper, (d) discussant, (s) seminar, (c) session chair
2025: American Finance Association Meeting (pp, scheduled)
2024: University of Hong Kong (s), Rice University (s, scheduled), University of Notre Dame (s, sched-uled), Villanova University (s, scheduled), Peking University HSBC Business School (s, scheduled), American Finance Association Meeting (pp × 3), Midwest Finance Association Meeting (pp × 2, d × 2), Drexel Corporate Governance Conference (pp), The China International Conference in Finance (pp).
2023: Iowa State University (s), University of Iowa (s), Hong Kong University of Science and Tech-nology (s), Peking University (s), Young Scholars Finance Consortium (d), Northeastern University Finance Conference (pp), Midwest Finance Association Meeting (c, d), China International Conference in Finance (pp, d), Stanford SITE conference (pp).
2022: Carnegie Mellon University (s), Dartmouth College (s), PBCSF Tsinghua University (s), Cheung Kong Graduate School of Business (s), University of Lausanne and Swiss Finance Institute (s), Mid-west Finance Association meeting (pp × 2, d × 2), Northeastern University Finance Conference (d), China International Conference in Finance (pp), European Finance Association Meeting (d).
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2021: Financial Management Association meeting (d), University of Houston (s).
2020: Boston College (s), Chinese University of Hong Kong (s), American Finance Association Meeting (pp), SFS Cavalcade (pp), European Finance Association Meeting (d).
2019: Norwegian School of Economics (s), University of Wisconsin - Madison (s), George Washington University (s), University of Cincinnati (s), Johns Hopkins University (s), Baylor University (s).
2018: American Finance Association Meeting (d), Financial Management Association Meeting (d, c), Cheung Kong Graduate School of Business (s)
2017: Cass Mergers and Acquisitions Research Centre Conference (pp), University of Oregon Summer Finance Conference (pp), European Finance Association Meeting (pp, d), China International Confer-ence in Finance (pp, d × 2), Guanghua School of Management, Peking University (s), PBC School of Finance, Tsinghua University (s), Wisconsin Junior Finance Conference (c)
2016: Cass Mergers and Acquisitions Research Centre Conference (pp), European Finance Association Meeting (pp), University of Kentucky Finance Conference (pp), Wabash River Finance Conference (pp), Financial Intermediation Research Society Conference (pp), China International Conference in Finance (pp, d × 2), Northern Finance Association Meeting (pp, d, c).
2015: American Finance Association Meeting (pp×2), China International Conference in Finance (pp).
2014: Conference on Financial Economics and Accounting (pp) ◦ Housing Urban Labor Macro (HULM) Conference (d)
2013: European Finance Association Annual Meeting (pp) ◦ American Finance Association Meeting (pp)∗ ◦ University of Pennsylvania, Wharton (brownbag) ◦ University of Wisconsin-Madison (s) ◦ Uni-versity of Washington, Foster (s) ◦ University of Texas-Austin, McCombs (s) ◦ Michigan State Univer-sity, Eli Broad (s) ◦ University of Maryland, Robert Smith (s) ◦ Indiana University, Kelley (s)
2012: Johns Hopkins University, Carey (s) ◦ 12th Trans-Atlantic Doctoral Conference, London Busi-ness School (pp) ◦ Board of Governors of the Federal Reserve System (s)∗ ◦ Midwest Finance As-sociation Meeting (pp, d) ◦ Econometric Society North American Summer Meetings (pp) ◦ Financial Management Association Meeting (pp) ◦ SMU-ESSEC Symposium: Empirical Finance & Financial Econometrics (pp)∗
SELECTED MEDIA COVERAGE
• Columbia Law School’s Blue Sky Blog on Corporations and the Capital Markets ◦ 2024 ◦ “Ignorance Is Bliss: The Screening Effect of (Noisy) Information”
• Harvard Law School Forum on Corporate Governance and Financial Regulation ◦ 2018 ◦ “Bid Anticipation, Information Revelation, and Merger Gains”
• Harvard Law School Forum on Corporate Governance and Financial Regulation ◦ 2016 ◦ “Ineffciencies and Externalities from Opportunistic Acquirers”
• Columbia Law School’s Blue Sky Blog on Corporations and the Capital Markets ◦ 2016 ◦ “Weak Governance by Informed Large Shareholders”
• Oxford Business Blog ◦ 2016 ◦ “Weak Governance by Informed Large Shareholders”
HONORS, AWARDS, AND GRANTS
• Bureau Van Dijk Prize, Best Paper in Corporate Finance ◦ 2023 ◦ Australasian Finance and Banking Con-ference (AFBC)
• Jacobs Levy Center Outstanding Research Paper Prize ◦ 2020 ◦ Jacobs Levy Center, Wharton School • Kelley School of Business Research Award ◦ 2017 ◦ Indiana University
• Best Paper Award in Asset Pricing ◦ 2012 ◦ Midwest Finance Association
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• Best Paper Award in Corporate Finance, Semi-fnalist ◦ 2012 ◦ Financial Management Association • American Finance Association Travel Grant ◦ 2012 ◦ American Finance Association
• Stephen L. Hawk Wisconsin Distinguished Graduate Fellowship ◦ 2011 - 2013 ◦ University of Wisconsin • Scholarship for Excellent Students ◦ 2000 - 2003 ◦ Tsinghua University
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