Toshimitsu UETA

CV
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Candidature: 6th Year
Department: Strategy & Policy
Research Interest: Coordination of organizations, location choice, organization design
Advisor: Professor Chang Sea-Jin

MA Jiameng

CV
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Candidature: 5th year
Department: Accounting 
Research Interest: Tax avoidance, corporate finance
Advisor: Professor Oliver Zhen Li

Job Market Paper Title:
Democracy and Tax Avoidance

Job Market Paper Abstract:
We examine the impact of home country democracy on corporate tax avoidance. Specifically, we investigate how two aspects of democracy (political freedom and electoral democracy) are associated with corporate tax avoidance respectively. Political freedom reduces tax avoidance, as participation in political decision-making process raises willingness to pay taxes. Electoral democracy increases tax avoidance, as election increases tax system complexity which in turn increases tax avoidance. Further, we find that corruption control and social stability strengthen the negative association between political freedom and tax avoidance. Corporate tax complexity as percentage of overall tax complexity strengthens the positive association between electoral democracy and tax avoidance. Additional tests show shareholder protection and being a common law country weaken the negative association between political freedom and tax avoidance, and strengthen the positive association between electoral democracy and tax avoidance. Robustness checks using colony history as instrumental variable confirm the results.

 

ZHANG Changhao

CV
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Candidature: 5th year
Department: Finance
Research Interest: Financial econometrics, systemic risk, information and news
Advisor: Professor Duan Jin-Chuan

Job Market Paper Title:
Global Systemically Important Financial Institutions: A Structural VAR Approach

Job Market Paper Abstract:
Systemic importance of a financial institution is measured as the additional tail loss induced into the system when the financial institution falls into distress due to its own structural shocks. The use of a structural approach is a step towards addressing a key concern in systemic risk literature, ``Is the firm impacting the market, or is the market impacting the firm?''

The identification exploits ``too-big-to-fail'' restrictions which are implicitly imposed when a dynamic factor model is assumed, and the data reveals ``too-interconnected-to-fail'', thereby incorporating the two key considerations of systemic importance. Over 21,000 firms listed globally are modelled jointly as a system.

Even though we use only public data, the model's output relates to actual bailout events, and also reflects interactions of firms linked to the same supply chain. In addition, we show how Basel's list of global systemically important banks can be interpreted in our framework.

LIAO Zhenyu

CV
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Candidature: 5th year
Department: Management & Organisation
Research Interest: Leadership Behavior & Dynamic, Event Perspective, Interpersonal interaction
Advisor: Associate Professor Song Zhaoli

Job Market Paper Title:
Cleansing my abuse: A reparative response model of perpetrating abusive supervisor behavior

Job Market Paper Abstract:
The literature on abusive supervision has predominantly focused on the consequences for victims while overlooking potential responses that leaders may have to their own abusive behavior. Drawing from the literature on moral cleansing and moral courage, we develop and test a reparative response model that identifies a psychological mechanism and boundary condition under which perpetrating abusive supervisor behavior affects how leaders subsequently treat their followers. Results from two experience sampling studies show that, within leaders on a daily basis, perpetrating abusive supervisor behavior leads to an increase in experienced guilt, which in turn motivates leaders to engage in more constructive task-oriented (initiating structure) and person-oriented (consideration) leadership behaviors. In addition, leader moral courage strengthens these effects by 1) amplifying the intensity of experienced guilt after perpetrating abusive supervisor behaviors, and 2) increasing the likelihood to perform reparative actions after experiencing feelings of guilt. Our research contributes to the theoretical understanding of leaders’ responses toward engaging in abusive behavior and provides insights into how and when destructive leadership behaviors may, paradoxically, trigger more constructive behaviors.