Associate Professor Tracy (Kun) Wang

Recent Media Interview

"Institutional Investors Can Push Companies to Think Long Term — Or Not", Interviewed by Jessica Hamlin, Institutional Investor, 29 April, 2022. https://www.institutionalinvestor.com/article/b1xtj6vfbdgqbt/Institutional-Investors-Can-Push-Companies-to-Think-Long-Term-Or-Not

Recent Refereed Journal Publications

** indicating the co-author is my previous or current PhD student

*** indicating the co-author was my previous honours/masters student

Tsang, A., Wang, K.T., & Zhu, N.Z.** 2023. Foreign media coverage and the pricing of accounting information. Review of Accounting Studies, In press

Liu, S.**, Wang, K.T., & Wu, Y.** 2023. Corporate governance reforms and analyst forecast accuracy: International evidence.” Abacus, Forthcoming.

Ho, K.-Y, Wang, K.T., & Wang, W. W. 2023. A novel approach to portfolio selection using news volume and sentiment?” International Review of Finance, In press. DIO: 10.1111/irfi.12427

Liu, S.**, Wang, K.T., & Walpola, S. 2023. Female board representation and the adoption of corporate social responsibility criteria in executive compensation contracts: International evidence, Journal of International Financial Markets, Institutions & Money, 82, 101685. DOI: 10.1016/j.intfin.2022.101685. 

Wang, K.T., Zhu, N.Z.**. 2022. Conditional mandates on management earnings forecasts: The impact on the cost of debt. Abacus, in press

Luo, G.**, Wang, K.T., & Wu, Y.** 2022. Does the market reward meeting or beating analyst earnings forecasts? Empirical evidence from China. China Accounting and Finance Review, in press

Wilson, M., Wang, K.T., Wu, Y.**, & Lou, A.*** 2022. Institutional investors and earnings management associated with controlling shareholders' promises: Evidence from the split share structure reform in China. Journal of Contemporary Accounting and Economics, in press. https://doi.org/10.1016/j.jcae.2022.100330. 

Tsang, A., Wang, K. T., Wu, Y.**, & Lee, J.*** 2022. Nonfinancial Corporate Social Responsibility Reporting and Firm Value: International Evidence on the Role of Financial Analysts. European Accounting Review, in press. DOI: 10.1080/09638180.2022.2094435. 

Wang, K.T., & Sun, A.*** 2022. Institutional ownership stability and corporate social performance. Finance Research Letters, 47, 102861. https://doi.org/10.1016/j.frl.2022.102861 (Impact factor: 5.596, ABDC ranking A). Featured in "Institutional Investors Can Push Companies to Think Long Term — Or Not", Institutional Investor, 29 April, 2022. 

Wang, K.T., & Shailer, G. 2022. Multiple performance criteria for government-controlled corporations. International Review of Economics and Finance. 79, 75-96. (Impact factor: 2.522, ABDC ranking A). https://doi.org/10.1016/j.iref.2022.01.012

Tsang, A., Wang, K.T., Zhu, N.Z.**, & Li, Y. 2022. The economic consequences of the Olympic games: International evidence on cross-listings. Journal of International Accounting Research, in press. https://doi.org/10.2308/JIAR-2021-033. (Impact factor: 1.1, ABDC ranking A)

Ryou, J. W., Tsang, A., Wang, K.T. 2021. Competition and corporate social responsibility reporting. Contemporary Accounting Research, Forthcoming. (Impact factor: 3.543; ABDC ranking A*, FT50).  https://doi.org/10.1111/1911-3846.12748

Chih-Hsien Liao, C.H., Tsang, A., Wang, K.T., & Zhu, N.Z.** 2021. Corporate Governance Reforms and Cross-Listings: International Evidence, Contemporary Accounting Research, In press. https://doi.org/10.1111/1911-3846.12729. (Impact factor: 3.543; ABDC ranking A*; FT50).

Tsang, A., Wang, K.T., Liu, S.**, & Yu, L. 2021. Integrating corporate social responsibility criteria into executive compensation and firm innovation: International evidence. Journal of Corporate Finance, 70, 102070. https://doi.org/10.1016/j.jcorpfin.2021.102070. (Impact factor: 4.249; ABDC ranking A*).

Wang, K.T., Wu, Y.**, Sun, A.***. 2021. Acquisitions and the cost of debt financing. International Review of Financial Analysis, 78, 101925. https://doi.org/10.1016/j.irfa.2021.101925. (Impact factor: 5.373; ABDC ranking A).

Zhu, N.Z.**, Wang, K.T., & Wilson, M. 2021. The Effect of Conditional Management Earnings Forecast Mandates on Voluntary Disclosure and Analyst Forecast Properties. Abacus. 58(3), 479-522. (Impact factor: 2.378; ABDC ranking A)

Wang, K.T., Luo, G.**, & Yu, L. 2021. Analysts’ Foreign Ancestral Origins and Firms’ Information Environment. China Accounting and Finance Review 24(1), 106-140. DOI: 10.1108/CAFR-02-2022-0006. (ABDC ranking A).

Wang, K.T., Liu, S.** &Yue, W.** 2021. Corporate social responsibility and stock price crash risk in the banking industry: International evidence. Journal of International Financial Markets, Institutions, and Money. 74, 101416. https://doi.org/10.1016/j.intfin.2021.101416. (Impact factor: 4.211; ABDC ranking A)

Wang, K.T., Kartika, F.***, Wang, W.W., & Luo, G.** 2021, Corporate social responsibility, investor protection, and the cost of equity: Evidence from East Asia, Emerging Markets Review, 47, 100801. DOI: https://doi.org/10.1016/j.ememar.2021.100801. (Impact factor: 4.073; ABDC ranking A).

Li, S., Quan Y., Tian, G.G., Wang, K.T.,& Wu, H. 2021, Academy fellow independent directors and innovation, Asia Pacific Journal of Management, In press. DOI: https://doi.org/10.1007/s10490-020-09749-3. (Impact factor: 5.616; ABDC ranking A)

Wang, K.T., Liu, Y.*** & Wang, W.W. 2020, Government control, regulatory enforcement actions, and the cost of equity. European Accounting Review, In press. https://doi.org/10.1080/09638180.2020.1822196. (Impact factor: 3.208; ABDC ranking A*)

Wang, K.T., Wu, Y.** & Ho, K.-Y. 2021 (accepted in 2019). Internal control reporting and cost of bond financing: Evidence from China. International Review of Economics and Finance, 76, 1323-1346. https://doi.org/10.1016/j.iref.2019.11.016. (Impact factor: 2.522; ABDC ranking A)

Wang, K.T. & Shailer, G. 2018, Does Ownership Identity Matter? A Meta-Analysis of Research on Firm Financial Performance in Relation to Government versus Private Ownership, Abacus: a journal of accounting, finance and business studies, 54(1), 1-35. https://doi.org/10.1111/abac.12103 (Impact factor: 2.378; ABDC ranking A)

Wang, K.T. & Shailer, G. 2017. Family ownership and financial performance relations in emerging markets. International Review of Economics and Finance, 51, 82-98. https://doi.org/10.1016/j.iref.2017.05.014  (Impact factor: 2.522; ABDC ranking A)

Wang, K. T. & Wang, W. 2017, Competition in the Stock Market with Asymmetric Information. Economic Modelling, 61, 40-49. https://doi.org/10.1016/j.econmod.2016.11.024 (Impact factor: 3.127; ABDC ranking A)

Wang, K.T. & Li, D. 2016 [First online 01 August 2015], Market Reactions to the First-Time Disclosure of Corporate Social Responsibility Reports: Evidence from China. Journal of Business Ethics, 138 (4), 661-682. https://doi.org/10.1007/s10551-015-2775-1 (Impact factor: 6.430; ABDC ranking A, FT45)

Shailer, G. & Wang, K.T. 2015, Government ownership and the cost of debt for Chinese listed corporations. Emerging Markets Review, 22, 1-17. https://doi.org/10.1016/j.ememar.2014.11.002 (Impact factor: 4.073; ABDC ranking A)

Wang, K. & Shailer, G. 2015 Ownership Concentration and Firm Performance in Emerging Markets: A Meta-analysis. Journal of Economic Surveys, 29 (2), 199–229.  https://doi.org/10.1111/joes.12048 (Impact factor: 4.237; ABDC ranking A)

Selected Refereed Conference Papers

Zhu, N.Z.**, Wu, Y.** & Wang, K.T. 2022. The impact of corporate takeover activities on analyst optimism: Evidence from international mergers and acquisitions laws. 2022 ICVG (CGB) Conference: Governance in its institutional context, December 15-16, 2022, Melbourne, Australia 

Wang, K.T., Zhu, N.Z.**, Wu, Y. F.*** 2022 The Impact of Enforcement Actions on Corporate Disclosure Policies. The 3rd Boca Corporate Finance and Governance Conference 2022, December 10-11, 2022, Florida Atlantic University, Boca Raton, Florida, US.

Zhu, N.Z.** & Wang, K.T. 2022. The impact of loosening regulatory requirements on firm innovation: Evidence from SEC Rule 12h-6. Zhu, N.Z. The 4th Global Chinese Accounting Association (GCAA) Summit 2022 & British Accounting Review Special Issue Conference. Best paper award (single award).

Liu, S., Wang, K.T. & Wu, Y. 2022. Corporate governance reforms and analyst forecast accuracy: International evidence. World Finance Conference, Turin, Italy, August 1-3, 2022.

Wang, K.T., Liu, S. & Wu, Y. 2021. Corporate social activities and stock price crash risk in the banking industry: International evidence. World Finance & Banking Symposium 2021, December 17-18, 2021, Budapest, Hungary. (The paper was presented at a virtual session due to COVID-19 travel restrictions)

Wang, K. T., Liu, S., Wu., Y. 2020. Corporate social responsibility and stock price crash risk in the banking industry: International evidence. The 2020 Cross Country Perspectives in Finance (CCPF) Conference, August 20-22, 2020.

Wang, K. T., Luo, L., Liu, S. 2020. Analyst coverage, board independence and firm innovation. Abacus Special Issue Conference on Accounting, Auditing and Corporate Governance in China, June 6-7, 2020. Conference organizations: Abacus, Peking University, and Cardiff University

Tsang, A., Wang, K. T., Wu, Y. & Lee, J. 2020, Non-financial corporate social responsibility reporting and firm value: International evidence on the role of financial analysts. The 22nd annual Australian Summer Accounting Conference, University of Technology Sydney, 6-7 February 2020, Sydney Australia..

Wang, K. T., Kartika, F. & Wang, W. 2019. Corporate social responsibility, investor protection, and the cost of equity: Evidence from East Asia, The 2019 International Accounting and Finance Conference (IAFC) and Special Issue of Emerging Markets Review (EMR), The Chongqing Technology and Business University, 17-18 December, 2019, Chongqing, China.

Tsang, A., Wang, K. T. & Zhu, N. Z. 2019. Corporate Governance Reforms around the World: The Impact on Firm Innovation. 2019 London Business School Accounting Symposium, 20-21 June 2019, London, U.K.

Wang, K.T., Wu, Y., Ho, K.-Y. 2018. Internal control reporting and cost of debt. The Fifth International Conference on The Chinese Economy: Past, Present and Future, December 22, 2018 Beijing, P.R.China.

Wang, K.T., Wu, Y. 2018. Corporate Social Responsibility Reporting and Investment: Evidence from Acquisitions. 42nd European Accounting Association Annual congress 2018, 30 May-1 June 2018, Milan, Italy.

Wang, K. T. & Zhu, Z. N. 2018. Management earnings forecasts and corporate bond financing of Chinese listed firms. 42nd European Accounting Association Annual congress 2018, 30 May-1 June 2018, Milan, Italy.

Zhu, Z. N, Wang, K. T. & Wilson, M. 2018. Conditional management earnings forecast mandates and corporate information environment. 42nd European Accounting Association Annual congress 2018, 30 May-1 June 2018, Milan, Italy.

Ryou, J. W., Tsang, A. & Wang, K.T. 2018. Competition and corporate social responsibility reporting. The American Accounting Association Annual Meeting 2018, August 4-8, 2018. Washington, DC, US; 2019 AFAANZ Conference, 7-9 July 2019, Brisbane, Australia.

Luo, G., & Wang, K., 2017, Meeting or Beating Analyst Forecasts in China: Stock Market Responses and Managerial Actions, the Chinese Economists Society Annual Conference 2017, 10-11 June, Nanjing, China

Wang, K., Liu, Y., Wang, W. 2015, Government control, regulatory enforcement actions, and the cost of equity, The 2015 International Journal of Accounting Symposium, 4-7 June 2015, Xiamen, China.

Wilson, M., Wang, K., & Lau, A. 2014, Insiders' Promises and Earnings Management: Evidence from China's Split Share Reform, The Chinese Economists Society Annual Conference 2014, 14-15 June, Guangzhou, China

Wang, K. & Li, D. 2014, Market Reactions to the First-Time Disclosure of Corporate Social Responsibility Reports: Evidence from China (Li, D and Wang, K), Journal of Business Ethics special issue conference on Business Ethics in Greater China: Past, Present and Future, 19-20 May 2014, Tibet, China.

"Meta-analysis of audit tenure and audit quality" (Wang, K.T., Shailer, G., David, H.), 2013 The 11th Annual Australian National Centre for Audit and Assurance Research (ANCAAR) Audit Research Forum, 6-7 December 2013, The Australian National University, Australia.

"The relation between news events and stock price jump: an analysis based on neural network" (Wang, W., Ho, K.Y., Liu, W.M., Wang, K.T.), 2013 International Congress on Modelling and Simulation (MODSIM), 1-6 December 2013, Adelaide, Australia.

“Government ownership and the cost of debt: Evidence from Chinese listed corporations” (Wang, K., Shailer, G., and Dhaliwal, D.), 2013 Asian Finance Association Annual Conference, 15 – 17 July, 2013, Nanchang, China.

"The Insider, the Information Follower and the Price Follower: An Analysis Based on Asymmetric Information" (K. Wang & W. Wang), 2012 World Finance& Banking Symposium, 17 - 18 December, 2012, Shanghai, China.

"Government Control and Performance Criteria for Chinese Listed Corporations" (K. Wang & G. Shailer), The 24th Annual Australasian Finance and Banking Conference, 14-16 December 2011, Sydney, Australia.

"Meta-Analyses of Ownership Identity and Corporate Performance in Emerging Markets" (K. Wang & G. Shailer), The 40th Australian Conference of Economists, 10-13 July 2011, ANU, Canberra.

"Disentangling the Relationship between Ownership Concentration and Firm Performance in Emerging Markets: A Meta-Analysis" (K. Wang & G. Shailer), 2010 Meta-Analysis of Economics Research Network (MEAR-Net) Colloquium, Hendrix College, AR, USA, October 2010.

"Acquisitions in Chinese Business Groups: Expropriation vs. Propping?" (K. Wang & G. Shailer), in the program and abstracts of 2010 Annual Conference of Accounting and Finance Association of Australia and New Zealand (AFAANZ), Christchurch, New Zealand, July 2010.

 "The Rise of Institutional Investors in China" (K. Wang & G. Shailer), The 1st Research Symposium on Corporate Governance in China and India, Virginia Beach, Virginia, USA, October 2008.

Newspaper articles 

"Financial Arrangements for Sustainable Public Housing Development," (K. Wang & M. C. S. Wong), China Economic Times, June 29, July 6, 2005.

 "The Way to Success: Public Housing Provisions for the Needy in Hong Kong and their Relevance to China," (K. Wang & M. C. S. Wong), China Economic Times, June 15, 2005.

"Risks in Public-Private Partnerships," (K. Wang & M. C. S. Wong), Securities Times,pp. 3,May 11, 2005.

"Real Estate Bubbles and Banking Stability," (K. Wang & M. C. S. Wong), Securities Times,pp. 3,May 9, 2005.

" Seeking the Unity of Fairness and Efficiency: Comments on Hong Kong's Public Housing Policy," (K. Wang & M. C. S. Wong), China Economic Herald, pp. B2, April 23, 2005.

"Corporate Governance and Securities Regulation in Mainland China," (K. Wang & M. C. S. Wong), Securities Times,pp. 3,April 8, 2005.

"LINK in Hong Kong: The Securitization of Public Services," (K. Wang & M. C. S. Wong), Securities Times, pp. 3, January 17, 2005.

Book chapters

Ho, K.-Y., Wang, K., Wang, W.W., 2015. Foreign trade and economic growth in recent China: A granger causality analysis, in: Djajadikerta, H.G., Zhang, Z. (Eds.), A new paradigm for international business. Springer, Singapore.

 "The Current Situation of China's Real Estate Tax System and its Problems," (H. Ni & K.Wang), in Real Estate Tax Policy in China, Beijing: China Land Press, 2005, Chapter Two, 47-74. (In Chinese)

Online research forum articles

Walpola, S. & Wang T. 2021, Australia’s Planned Patent Box: A Means of Stimulating Innovation? Published in May 2021. This piece critically analyses the Government’s policy (announced in Budget 2021-22) to introduce a patent box (which preferentially taxes patent income in medical and biotech industries) to Australia. Available at: https://www.austaxpolicy.com/budget-forum-2021-australias-planned-patent-box-a-means-of-stimulating-innovation/