Zhao offers a quick history of China's foreign policy since 1949 and then offers a provocative assessment of it today.

Wang, Yongxiang 汪勇祥
Contact Information
Assistant Professor of Finance and Business Economics
USC Marshall School of Business
Phone: (213) 740-7650
E-mail: yongxiaw@marshall.usc.edu
Education:
- Ph.D., Columbia Business School, Finance, 2010
- M.A., Renmin University of China, Finance & Economics, 2005
- B.A., Renmin University of China, Management, 2001
Background
Yongxiang Wang is a financial economist whose main work is about how corruption and politics affect resource allocation and efficiency. To this end, he has studied a range of prominent social, economic and political phenomena in China, including privatization, business groups, workplace safety, the death ceiling program, Sino-Japanese conflict, fellow selection at the China Academy of Science, air pollution, and the Sent-down Youth program during the Cultural Revolution. He has published in top economics, finance and strategy journals, including JPE, ReStud, AEJ: Applied, JLEO, RFS, JFE, Administrative Science Quarterly, and Management Science.
Selected Publications:
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Access to Migration for Rural Households (with C. Kinnan and S. Wang), Forthcoming American Economic Journal: Applied Economics
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Something in the Air: Pollution and the Demand for Health Insurance (with T. Chang and W. Huang), Forthcoming Review of Economic Studies.
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The Effect of Mandatory CSR disclosure on Firm Profitability and Social Externalities: Evidence from China (with Y. Chen and M. Hung), Forthcoming Journal of Accounting and Economics
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Social Ties and Favoritism in Chinese Science (with R. Fisman, J. Shi and R. Xu) Forthcoming, Journal of Political Economy --- See "It's whom you know that counts" for a review at Science
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The distortionary effects of incentives in government: Evidence from China's "death ceiling" program, (with R. Fisman), Forthcoming, American Economic Journal: Applied Economics ---New York Times (Previously circulated as "The Economics of Death Ceilings" ) --- The Economist
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The Dynamics of Political Embeddedness in China, (with H. Haveman, N. Jia and J. Shi) (Forthcoming Administrative Science Quarterly)
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The mortality cost of political connections (with R. Fisman), 2015. Review of Economic Studies ---See Harvard Business Review for a summary of the research, "The Unsafe Side of Chinese Crony Capitalism" --- Businessweek WSJ NBER Digest
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Corruption in Chinese privatizations, (with R. Fisman), 2015, Journal of Law, Economics and Organization --- See China Business News Daily for a summary of the research
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Nationalism and economic exchange: Evidence from shocks to Sino-Japanese relations, (with R. Fisman and Y. Hamao), 2014, Review of Financial Studies ---See Caixin for a summary of the research
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Coinsurance within Business Groups: Evidence from Related Party Transactions in an Emerging Market, 2013 (with N. Jia and J. Shi), Management Science (Business Strategy Department)
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Estimating the value of connections to Vice-President Cheney, (with D. Fisman, R. Fisman, J. Galef and R. Khurana), 2012, B.E. Journal of Economic Analysis & Policy (:Advances)
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Going (more) public: Institutional Isomorphism and Ownership Reform among Chinese Firms, (with H. Haveman), 2012, Management and Organization Review
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When Managers Can't Commit: Capital Structure under Inalienable Managerial Entrenchment, (with C. Thomas), 2011, Economics Letters
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Trading favors within Chinese business groups, (with R. Fisman), American Economic Review (Papers&Proceedings), 2010. 2. Profiting from government stakes in a command economy: Evidence from Chinese asset sales, (with C. Calomiris and R. Fisman), Journal of Financial Economics 2010.
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Investment with Restricted Stock and the Value of Information, (with WX Wu), Applied Mathematics and Computation, 2005.
Honors and Awards:
- National Science Foundation Grant (with Ray Fisman) ($579,355)
- LUSK center research Grant, 2015-2016 ($10,000)
- Zumberge Fund Individual Grant, 2015-2016 ($24,975)
- Australian Research Council Grant ($200,000), 2015-2018 (with Jing Shi and Tom Smith)
- China National Science Foundation grant ($50,000), 2014-2017, (with Rong Xu)
- LUSK center research Grant, 2013-2014 ($13,200) (with John Bai)
- Shanghai Stock Exchange Senior Visiting Financial Expert (with George Gao and Paul Gao), 2012-2013 (total grant: $60,000 )
- The Economic and Social Research Council grant (with Elaine Liu and Shing-Yi Wang), 2012-2013 (total grant: $430,000)
- Emerging Markets Institute grant (with George Gao and Paul Gao), 2012-2013 ($14,000)
- USC-China Institute Grant, 2012 ($5,000)
- CIBER faculty research grant, 2011 ($2,000)
- CIBER summer research grant (2007 & 2008, $5,000)
- Columbia University Fellowship (2005—2009)
- Columbia Business School Dissertation Fellowship (2009-2010)
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Events
Join us for a book talk with Suisheng Zhao on how Mao Zedong, Deng Xiaoping, and Xi Jinping each conceived and executed radically different approaches to China's relations with others.