WANG Rong
Full-time Faculty
Associate Professor of Finance
Lee Kong Chian School of Business
LKCSB
Education
| 2006 | Ph.D Finance, Washington University in St. Louis , USA |
| 2003 | M.S.B.A Finance, Washington University in St. Louis , USA |
| 1998 | Finance, Tsinghua University , China |
Current Position(s) Held
| Jul 2015 - Now | Associate Professor of Finance Lee Kong Chian School of Business, Singapore Management University |
| Jul 2014 - Jun 2017 | Area Coordinator of Finance |
| Jul 2007 - Jun 2015 | Assistant Professor of Finance Lee Kong Chian School of Business, Singapore Management University |
Awards, Recognition and Honors
- Sing Lun Fellowship Award, SMU, 2013
- Dean's Teaching Honour List, SMU, 2012
- The Best Paper Award at the Asia-Pacific Financial Market conference in Seoul, Korea, 2008
- Highest Honors (top 2% of 2,200 graduates), Tsinghua University, 1998
Research Interests
- Empirical Corporate Finance, Corporate Cash Holdings, Financial Analysts, Executive Compensation
Selected Journal Articles (Refereed)
- “Sell-Side Analysts’ Benchmarks,” with Ohad Kadan, Leonardo Madureira, and Tzachi Zach, The Accounting Review, January 2020, Vol. 95, No. 1, pp. 211-232.
- “Analyst Career Concerns, Effort Allocation, and Firms Information Environment," with Jarrad Harford, Feng Jiang, and Fei Xie. Review of Financial Studies, Volume 32, Issue 6, June 2019, Pages 2179-2224.
- "Optimal CEO Compensation with Search: Theory and Empirical Evidence," with Melanie Cao, Journal of Finance, Vol. 68, No. 5, 2001-2058 (2013). Reprint in the Harvard Law School Forum on Corporate Governance and Financial Regulation.
- "Analysts' Industry Expertise," with Ohad Kadan, Leonardo Madureira, and Tzachi Zach, Journal of Accounting and Economics, Vol. 54, Issues 2-3, 95-120 (2012), lead article.
- "Conflicts of Interest and Stock Recommendations - The E ffects of the Global Settlement and Related Regulations," with Ohad Kadan, Leonardo Madureira, and Tzachi Zach, Review of Financial Studies, Vol. 22, No. 10, 4189-4217 (2009).
"Corporate Financial Policy and the Value of Cash", by Rong WANG and Michael FAULKENDER, 2006 , 61 , The Journal of Finance, 1957-1990
Research Advisor/ Co-research Advisor to
- BIAN Jinfei, (jfbian.2020@dba.smu.edu.sg), SMU-ZJU DBA(A&F)
- QIN Bing, (bing.qin.2022@dba.smu.edu.sg), SMU-ZJU DBA(A&F)
- HAN Chunjian, (cjhan.2016@ckdba.smu.edu.sg), CKGSB-SMU DBA
- LIN, XIUHAO, (xhlin.2022@ckdba.smu.edu.sg), CKGSB-SMU DBA
- LIU Zhendong, (zdliu.2016@ckdba.smu.edu.sg), CKGSB-SMU DBA
Research Areas and Areas of Expertise
Strategic Priorities
HighlightsRong Wang is an accomplished finance scholar specializing in empirical corporate finance, executive compensation, and financial analysts, with a strong record of impactful research, teaching, and academic service.
Renowned for rigorous empirical research that bridges theory and practice in finance, with recognized contributions to understanding analyst behavior, executive compensation, and corporate financial policy; recipient of multiple teaching and research awards; frequently cited in international media and policy reports.
Focused research areas include Empirical studies on corporate financial policy, cash holdings, executive compensation, financial analysts’ roles and incentives, and the impact of political ideology and regulation on corporate behavior.
Renowned for rigorous empirical research that bridges theory and practice in finance, with recognized contributions to understanding analyst behavior, executive compensation, and corporate financial policy; recipient of multiple teaching and research awards; frequently cited in international media and policy reports.
Focused research areas include Empirical studies on corporate financial policy, cash holdings, executive compensation, financial analysts’ roles and incentives, and the impact of political ideology and regulation on corporate behavior.
Areas of Expertise
Finance
Past Awarded Grant
- Political Ideology and Economic Activities: Evidence from China, The ASEAN Business Research Initiative (ABRI) grant, SMU and CKGSB, PI (Project Level): WANG Rong and LIANG Hao, Collaborator (Project Level): ZHU Haikun, 2019, S$14,200
- Why do U.S. firms invest less over time?, SMU Internal Grant, Ministry of Education (MOE) Tier 1, PI (Project Level): HUANG Sheng, Co-PI (Project Level): FU Fangjian, WANG Rong, 2015, S$13,075.5
- The Allocation of Proceeds from Employee Stock Option Exercises, SMU Internal Grant, Ministry of Education (MOE) Tier 1, PI (Project Level): WANG Rong, 2014, S$6,300
Latest Publications
Showing up to 6 latest publications from the past 5 years.
- L Madureira, R Wang, T Zach, O KadanFisher College of Business Working Paper, 2025
- H Liang, R Wang, H ZhuManagement Science, 2025
- O KADAN, L MADUREIRA, R WANG, T ZACHSSRN, 2025
- FW LI, R WANG, Y YU, GY YUSSRN, 2023
- F Fu, S Huang, R WangJournal of Empirical Finance 69, 15-42, 2022
This highlights are AI-generated content using the faculty's CV.
Education
| 2006 | Ph.D Finance, Washington University in St. Louis , USA |
| 2003 | M.S.B.A Finance, Washington University in St. Louis , USA |
| 1998 | Finance, Tsinghua University , China |
Current Position(s) Held
| Jul 2015 - Now | Associate Professor of Finance Lee Kong Chian School of Business, Singapore Management University |
| Jul 2014 - Jun 2017 | Area Coordinator of Finance |
| Jul 2007 - Jun 2015 | Assistant Professor of Finance Lee Kong Chian School of Business, Singapore Management University |
Awards, Recognition and Honors
- Sing Lun Fellowship Award, SMU, 2013
- Dean's Teaching Honour List, SMU, 2012
- The Best Paper Award at the Asia-Pacific Financial Market conference in Seoul, Korea, 2008
- Highest Honors (top 2% of 2,200 graduates), Tsinghua University, 1998
Research Interests
- Empirical Corporate Finance, Corporate Cash Holdings, Financial Analysts, Executive Compensation
Selected Journal Articles (Refereed)
- “Sell-Side Analysts’ Benchmarks,” with Ohad Kadan, Leonardo Madureira, and Tzachi Zach, The Accounting Review, January 2020, Vol. 95, No. 1, pp. 211-232.
- “Analyst Career Concerns, Effort Allocation, and Firms Information Environment," with Jarrad Harford, Feng Jiang, and Fei Xie. Review of Financial Studies, Volume 32, Issue 6, June 2019, Pages 2179-2224.
- "Optimal CEO Compensation with Search: Theory and Empirical Evidence," with Melanie Cao, Journal of Finance, Vol. 68, No. 5, 2001-2058 (2013). Reprint in the Harvard Law School Forum on Corporate Governance and Financial Regulation.
- "Analysts' Industry Expertise," with Ohad Kadan, Leonardo Madureira, and Tzachi Zach, Journal of Accounting and Economics, Vol. 54, Issues 2-3, 95-120 (2012), lead article.
- "Conflicts of Interest and Stock Recommendations - The E ffects of the Global Settlement and Related Regulations," with Ohad Kadan, Leonardo Madureira, and Tzachi Zach, Review of Financial Studies, Vol. 22, No. 10, 4189-4217 (2009).
"Corporate Financial Policy and the Value of Cash", by Rong WANG and Michael FAULKENDER, 2006 , 61 , The Journal of Finance, 1957-1990
Research Advisor/ Co-research Advisor to
- BIAN Jinfei, (jfbian.2020@dba.smu.edu.sg), SMU-ZJU DBA(A&F)
- QIN Bing, (bing.qin.2022@dba.smu.edu.sg), SMU-ZJU DBA(A&F)
- HAN Chunjian, (cjhan.2016@ckdba.smu.edu.sg), CKGSB-SMU DBA
- LIN, XIUHAO, (xhlin.2022@ckdba.smu.edu.sg), CKGSB-SMU DBA
- LIU Zhendong, (zdliu.2016@ckdba.smu.edu.sg), CKGSB-SMU DBA