Accounting

Faculty

YOU Haifeng

Department of Accounting    

Professor of Tsinghua Shenzhen International Graduate School (Innovation Management Area)

Chair Professor of Tsinghua SEM (Shenzhen campus and Department of Accounting)

Co-chair

E-mail:hyou@sem.tsinghua.edu.cn

Educational Background

2005.09-2007.05 Ph.D in Accounting,Haas School of Business,University of California at Berkeley Berkeley,CA,USA

2003.09-2005.08 Master of Science in Business Administration,Haas School of Business,University of California at Berkeley Berkeley,CA,USA

2001.09-2003.08 Master of Arts in Economics,The Ohio State University,Columbus,OH,USA

1997.09-2001.07 Bachelor of Arts in Finance and Economics,Peking University,China

More

Work Experience

August 2023-Present, Professor, Tsinghua University Shenzhen; 

                       Chair Professor, Tsinghua SEM (Shenzhen campus and Department of Accounting)

July 2009- August 2023, Professor of Accounting & Director of Center for Securities Analysis with Financial Technology, Hong Kong University of Science and Technology Hong Kong, China

September 2015-August 2022, Director of Quantitative Equity Research and Senior Advisor of Quantitative Research, China Investment Corporation Beijing, China

May 2007-July 2009, Quantitative Equity Researcher, Active Equity Group Barclays Global Investors (Now Blackrock) San Francisco, USA

More

Courses

Artificial Intelligence, Big Data and Capital Markets

Artificial intelligence and investment

More

Research Areas

(1)Accounting information, capital markets and real economy

(2) Artificial intelligence and investment

More

Publications

1.Kai Cao and Haifeng You, “Fundamental Analysis via Machine Learning”, Financial Analyst Journal, Forthcoming.

2.Allen Huang and Haifeng You, “Artificial Intelligence in Financial Decision Making”, Handbook of Financial Decision Making (2023): 315-335. Edward Elgar Publishing,

3.Tony Elavia, SP Kothari, Xu Li, and Haifeng You, “Gains from Markowitz Optimization: Evidence from Re-optimization of Mutual Fund Holdings”, Journal of Portfolio Management (2022) 48(3): 199-218.

4.Patricia Dechow and Haifeng You, “Understanding the Determinants of Analyst Target Price Implied Returns”, The Accounting Review (2020) 95(6): 125-149.

5.Richard Sloan and Haifeng You, “Wealth Transfer via Equity Transactions”, Journal of Financial Economics (2015) 118(1): 93-112.

6.Kevin Li and Haifeng You, “What is the Value of Financial Analysts? Evidence from Coverage Initiations and terminations”, Journal of Accounting and Economics (2015) 60(2-3): 141-160.

7.Haifeng You, “Valuation-driven Profit Transfer among Corporate Segments”, Review of Accounting Studies (2014) 19 (2): 805-838.

8.Patricia Dechow and Haifeng You, “Analysts’ Motives for Rounding EPS Forecasts”, The Accounting Review (2012) 87 (6): 1939-1966.

9.Neslihan Ozkan, Zvi Singer, and Haifeng You, “Mandatory IFRS Adoption and the Contractual Usefulness of Accounting Information in Executive Compensation”, Journal of Accounting Research (2012) 50(4): 1077-1107.

10.Scott Richardson, Richard Sloan, and Haifeng You, “What Drives Stock Prices Move? Fundamentals vs. Investor Recognition”, Financial Analyst Journal (2012) 68(2): 30-50.

11.Maria Nondorf, Zvi Singer, and Haifeng You, “A Study of Firms Surrounding the Threshold of Sarbanes-Oxley Section 404 Compliance”, Advances in Accounting(2012) 28(1):96-110.

12.Zvi Singer and Haifeng You, “The Effect of Section 404 of the Sarbanes-Oxley Act on Earnings Quality”, Journal of Accounting, Auditing and Finance (2011) 26(3):556-589.

13.Haifeng You and Xiao-Jun Zhang, “Limited Attention and Stock Price Drift Following Earnings Announcements and 10-K Filings”, China Finance Review International (2011) 1(4): 358-387

14.Ryan LaFond and Haifeng You, “The Federal Deposit Insurance Corporation Improvement Act, Bank Internal Controls and Financial Reporting Quality”, Journal of Accounting and Economics (2010) 49 (1-2): 75-83 (Invited discussion paper)3/4

15.Xiao-Jun Zhang and Haifeng You, “Financial Information Complexity and Investor Underreaction to 10-K Information”, Review of Accounting Studies (2009) 14: 559-586

16.Donghua Chen, Peter Chen, Yongjian Shen and Haifeng You, “CEO Turnover, Employee Wage and Implicit Contract: Empirical Evidence from China Listed Companies”, Economic Research Journal (2011) S2: 100-111 (in Chinese)


WORKING PAPERS

(1)Guoman She, John Wei, and Haifeng You, “Concentration of vertically related industries, firm risk, and the cost of equity capital”, 2023, Under preparation for resubmission to Management Science

(2)Kai Cao and Haifeng You, “Fundamental Analysis via Machine Learning”, 2023, Under preparation for resubmission to Financial Analyst Journal

(3)Guoman She and Haifeng You, “Does the Stock Market Allocate Capital Efficiently? Evidence from Aggregate Earnings”, 2023

Page 3 of 5

(4)Kevin K. Li and Haifeng You. “Does the Public Stock Market Allocate Capital Toward More Productive Firms? Evidence from the UK Public and Private firms”, 2023

(5)Qingjie Du, Yang Wang, Chishen Wei, John Wei, and Haifeng You, “Does the Speculative Frenzy in Bitcoin Spread to the Stock Market?”, 2023

More

Honors

The Franklin Prize for Teaching Excellence in MBA and MSc Courses, 2017

Best Paper Award, Financial Accounting Section, AFAANZ Annual Conference, 2013, 2016

Best Research Paper Award, AAA Western Regional Meeting, April 2007

Forbes Doctoral Fellowship, UC Berkeley, 2005-2006

Maurice Moonitz Doctoral Fellowship, UC Berkeley, 2003-2006

University Fellowship, Ohio State University, 2001-2002

Hang-Seng Bank Scholarship, Peking University, 2000

Award for Economics College Student Research, Research Center for Development of the State Council, China, 1999

Second Class Award, National Olympics in Mathematics, China, 1997

More

Other Information

Journal of Accounting, Accounting and Finance, Associate Editor;

Review of Accounting Studies, Editorial Board

More