Yan Xiong | University of Hong Kong

Financial markets · Information economics · Corporate finance

How information shapes markets.

I study how information is produced, disclosed, and used by investors, firms, and financial intermediaries.

My theoretical and empirical research examines information and disclosure, the economic role of data, and financial intermediation.

Editorial roleAssociate EditorJournal of Financial Markets

Academic communityMemberFinance Theory Group Co-organizerHong Kong Finance Theory Workshop

Programme leadershipProgramme DirectorMaster of Accounting Analytics

Publications

2026

Disagreement and Bond PEAD
with Yoshio Nozawa and Yancheng Qiu
Management Science · AcceptedPDF
2026

The Strength of Weak Commitments
with Xi Li
Management Science, 72(2), 1054–1071Article PDF
2025

Personalized Pricing and Firm Incentives
with Liyan Yang
Journal of Economic Theory, 227, 106036Article PDF
2025

Disclosing Endogenous Cost Information
with Xu Jiang
The Accounting Review, 100(2), 249–268Article PDF
2025

Information Sharing in Financial Markets
with Itay Goldstein and Liyan Yang
Journal of Financial Economics, 163, 103967Article PDF

Working papers

Too Much (Early) Information? The Option to Test the Waters Before Going Public PDFwith Michele Dathan
Data Regulation in Credit Markets PDFwith Uday Rajan
Institutional Ownership Concentration and Informational Efficiency PDFwith Liyan Yang and Zexin Zheng
R&R at Review of Financial Studies
Disclosure Standards, Investment Externalities, and CSR PDFwith Xu Jiang

Experience

2024–Associate Professor of Accounting and FinanceUniversity of Hong Kong

2019–2024Assistant Professor of FinanceHong Kong University of Science and Technology

Education

2019Ph.D. in FinanceUniversity of Toronto

2014M.A. in FinanceRenmin University of China

2011B.A. in InsuranceShanghai University of Finance and Economics

Courses at the University of Hong Kong

Teaching

AI & Economics01

Quantitative Tools for Economic Analysis

Economic reasoning, data, code, and AI agents for reproducible empirical research.

Enter course

Finance02

Corporate Finance

Core principles of corporate financial decisions and their real-world applications.

Enter course

AI & Finance & Accounting03

AI for Financial Analysis and Investment

Artificial intelligence methods and their applications in financial analysis and investment.

Enter course

Media

Commentary and research insights

Financial Times Chinese · 23 Jul 2026

How information shapes markets.

Publications

Disagreement and Bond PEAD

The Strength of Weak Commitments

Personalized Pricing and Firm Incentives

Disclosing Endogenous Cost Information

Information Sharing in Financial Markets

Secret and Overt Information Acquisition in Financial Markets

Why Is Certified Financial Reporting Mandatory? A Real Effects Perspective

Channel Coordination of Storable Goods

Economic Consequences of Managerial Compensation Contract Disclosure

Skill Acquisition and Data Sales

Disclosure, Competition and Learning from Asset Prices

Information Bias in the Proxy Advisory Market

Working papers

Experience

Teaching

Quantitative Tools for Economic Analysis

Corporate Finance

AI for Financial Analysis and Investment

Media

Only the Market Can Unlock the Value of Data Assets

Information Sharing in Financial Markets

Disclosing Endogenous Cost Information

AI Investment Bubble?

The Rise of Alternative Data: Credit Market Analysis in the AI Era