劉俏

1994北京華夏證劵有限公司發行部 業務經理

2011至今北京大學光華管理學院 教授

2000—2001香港大學經濟金融學院 助理教授

2001--2003麥肯錫公司亞太公司金融與戰略諮詢中心 諮詢顧問

2003--2010香港大學經濟與工商管理學院 助理教授，副教授（終身職）

2014年獲教育部長江學者特聘教授

2017.01北京大學光華管理學院院長

曾任職於麥肯錫公司，負責領導麥肯錫在亞洲企業金融方面的研究和知識領域。

加入光華前，已獲得香港大學終身教職。

主要課程

1. 公司金融

2. 亞洲金融市場

3. 公司金融案例分析

4. 國際金融

5. 收購與兼并

6. 高級金融管理

7. 公司財務理論與實證分析

研究領域

公司金融

實證資產定價模型

金融市場與監管

中國經濟

論文

英文書籍

“Fiance in Asia: institutions, regulation, and policy” (joint with Douglas Arner and Paul Lejot), London – New York: Routledge. Forthcoming in December 2011

“Asia’s debt capital markets: prospects and strategies for development” (co-edit with Paul Lejot, Douglas Arner, and Jae-Ha Park), New York: Springer 2006.

英文論文

“Intellectual capital and financing decisions: evidence from the U.S. Patent data” (with Keith K.P. Wong), 2011, accepted at Management Science.

“Institutions and corporate investment: evidence from an investment-implied return on capital in China” (with Alan Siu), 2010, accepted at Journal of Financial and Quantitative Analysis. This paper has been quoted and discussed by the atricles "Bamboo Capitalism" and "Let Millions Flowers Bloom" in The Economist.

“Predict stock market returns with aggregate discretionary accruals” (with Qiang Kang and Rong Qi), Journal of Accounting Research, 2010, 48(4), 815-858. Featured and summarized in The CFA Digest, 2010, Vol. 40, No. 4 (by Georgeann Portokalis).

“Information-based stock trading, executive incentives, and the principal-agent problem” (with Qiang Kang), Management Science, 2010, 56(4), 682-698.

“The Sarbanes-Oxley Act and corporate investment: a structural assessment” (with Qiang Kang and Rong Qi), Journal of Financial Economics, 2010, 96 (2), 291-305.

“Competition and corporate tax avoidance: evidence from Chinese industrial firms” (with Hongbin Cai), The Economic Journal, 2009, 119 (April), 764-795.

“Market timing strategy with aggregate accruals” (joint with Qiang Kang and Rong Qi). Journal of Asset Management, 2009, 10 (3), 170-180. Featured and summarized in The CFA Digest, 2010, Vol. 40, No. 1: 118-120 (by Victoria Rati).

“Stock market information production and executive incentives” (joint with Qiang Kang), Journal of Corporate Finance, 2008. 14, 484-498.

“Stock trading and diversification discount” (with Rong Qi), Economics Letters, 2008, 98(1): 35 – 40.

“Corporate governance and earnings management in China: a tunneling perspective,” (with Joe Lu), Journal of Corporate Finance, 2007, 13: 881 – 906。

“Do we accept accruals profits at our peril?” (with Rong Qi) 2006, Financial Analysts Journal, Volume 62 (4): 62-75.

“How good is good news? Technology depth, book-to-market ratio, and innovative events,” 2006, Journal of Accounting, Auditing, and Finance, Vol. 21(3), 293-321.

“Missing links: regional reforms for Asian debt capital markets” (with Paul Lejot and Douglas Arner), Asia Pacific Business Review, 2006, 12(3):309-332.

“High stakes in high technology: high-tech market values as options” (with Michael R. Darby and Lynne Zucker), Economic Inquiry, lead article, 2004, Vol. 42(3): 351-369.

“Corporate governance in China: current practices, economic effects, and institutional determinants,” CESifo Economic Studies, 2006, 52(2), 415-453.

“Corporate Governance and Firm valuations in China” (with Chong-En Bai, Joe Lu, Frank Song, Junxi Zhang), 2004, Journal of Comparative Economics, lead article, 32(4):599-616. A condensed and non-academic version was published at Beyond Transition: The Newsletter about Reforming Economies, Vol. 15, No. 1, 2004, a quarterly publication by World Bank.

“The parent companies puzzle? when is the whole worth less than one of the parts?” (with Bradford Cornell), Journal of Corporate Finance, lead article, 2001, 341-366. Featured and summarized in The CFA Digest, 2002, Vol. 32, No. 2: 22-23.

已發表英文書籍章節

“Sovereign funds,” The Encyclopedia of Financial Globalization, Elsevier, forthcoming.

“Asia's debt capital markets – Contemporary markets for Asian debt capital market instruments” (with Paul Lejot, Douglas Arner), in “Asia’s debt capital markets: prospects and strategies for development” (co-ed by Paul Lejot, Douglas Arner, Qiao Liu, and Jae-Ha Park), Springer 2006.

“Making Markets: Policy concerns and the value of regional markets” (with Paul Lejot, Douglas Arner) in “Asia’s debt capital markets: prospects and strategies for development” (co-ed by Paul Lejot, Douglas Arner, Qiao Liu, and Jae-Ha Park), Springer 2006.

“Asia's debt capital markets – Introduction” (with Paul Lejot, Douglas Arner, and Jae-Ha Park), in “Asia’s debt capital markets: prospects and strategies for development” (co-ed by Paul Lejot, Douglas Arner, Qiao Liu, and Jae-Ha Park), Springer 2006.

“Property rights, collateral and credit rights in east Asia” (with Douglas Arner, Charles Booth, Berry Hsu, Paul Lejot, and Frederik Pretorius), in "East Asian Finance: the road to robust markets" (edited by Swati R. Ghosh). Washington DC: World Bank. 2006.

中文論文

“競爭會加劇公司隱瞞利潤嗎？－來自中國企業的證據”，（與蔡洪濱和肖耿合作） 2006，經濟學報, 2:15-45.

“中國上市公司治理結構的實證研究”。經濟研究， 2005年第2期，81-91頁。（與白重恩，陸洲，宋敏和張俊喜合作）。

“公司資源的隧道效應”經濟學季刊，2004年第2期，437-456頁。（與陸洲合作）。

“信息，現金流和企業投資”中國金融學，2006年6月期，73-98頁。（與戚戎合作）。

“市場非有效性與行為金融” 2002年，見田國強主編《現代經濟學與金融學前沿發展》商務印書館。

“市場是有效的嗎？”讀書, 2001年第11期。

已完成/投稿的工作論文

“The real effect of S&P 500 additions: evidence from corporate investment” (with Yong Wei), December 2010.

“The evolution and consequence of Chinese pyramids” (with Ying Zheng and Yuande Zhu), December 2010.

“How do regulations affect corporate investment? evidence from state anti-takeover laws” (with Qiang Kang), June 2010.

“Two Accrual Anomalies” (with Qiang Kang and Rong Qi), August 2009.

“Credit rating changes and CEO incentives” (with Qiang Kang), 2009, working paper. Submitted.

“The value of corporate control: propping and tunneling evidence from China" (with Chong-En Bai, Frank Song), 2009. Submitted.

“Information production, cash flow, and corporate investment” (with Rong Qi). This version: July 2007. Under review. This paper has been presented at the 2003 American Finance Association annual meeting in Washington DC.