Faculty Member

Dr. Xu Li

Job Title

Accounting and Law
HKU-PKU EMBA Programme Director
Associate Professor

Dr. Li, Xu is an Associate Professor of Accounting. He obtained his Bachelor’s degree in International Business Administration from the University of International Business and Economics, a Master’s degree in Finance from Boston College, and the PhD degree in accounting from Massachusetts Institute of Technology. Prior to joining the University of Hong Kong, Dr. Li worked in University of Texas at Dallas and Lehigh University.

Academic & Professional Qualification
BBA, University of International Business and Economics (China)
MS in Finance, Boston College (U.S.A.)
PH.D., Massachusetts of Institute of Technology (U.S.A.)

Dr. Li’s teaching interests include financial accounting, and financial statement analysis. He has taught various courses, such as Introduction to Financial Accounting, Financial Statement Analysis, Accounting for Business Decisions, and Business Valuation at both undergraduate and graduate levels.

Research Interest
Dr. Li’s research interests include the capital market’s reaction on accounting information, the role of information intermediaries, insider trading and information asymmetry, as well as characteristics and impact of firms’ disclosure to the investment community.

Selected Publications
“The Market Response to Insider Sales of Restricted Stock Versu Unrestricted Stock” Coauthored with Laurel Franzen, Oktay Urcan and Mark Vargus, Journal of Financial Research, vol. XXXVII No. 1, 99–118, Spring 2014
“Can Strong Boards and Trading Their Own Firm’s Stock Help CEOs Make Better Decisions? Evidence from Acquisitions by Overconfident CEOs” Coauthored with Adam Kolasinski, Journal of Financial and Quantitative Analysis, vol. 48(4), 1173-1206, August 2013
“The Effect of Sarbanes-Oxley on the Timely Disclosure of Restricted Stock Trading” Coauthored with Laurel Franzen, and Mark Vargus, Research in Accounting Regulation, vol. 25, 47-52, April 2013
“Can Government Policies Induce Earnings Management Behavior? Evidence from Chinese Public Listed Firms” Coauthored with Nan Hu, Ling Liu, Baolei Qi, and Gaoling Tian, Journal of International Financial Management and Accounting, vol. 23,187-207, Autumn 2012
“Regulation FD, Accounting Restatements and Transient Institutional Investors’ Trading Behavior” Coauthored with Suresh Radhakrishnan, Haeyoung Shin, and Jin Zhang, Journal of Accounting and Public Policy, vol. 30, 298-326, July-August 2011
“Behavioral Theories and the Pricing of IPOs’ Discretionary Current Accruals” Review of Quantitative Finance and Accounting, vol. 37, 87-104, July 2011
“Are Corporate Managers Savvy About Their Stock Price? Evidence from Insider Trading after Earnings Announcements” Coauthored with Adam Kolasinski, Journal of Accounting and Public Policy, vol. 29, 27-44, January-February 2010
“The Effect of Disclosures by Management, Analysts, and Business Press On the Equity Cost of Capital: A Study Using Content Analysis” Coauthored with S.P. Kothari and James Short, The Accounting Review, vol. 84, 1639-1670, September 2009
“Characteristics of a Firm’s Information Environment and the Information Asymmetry between Insiders and Outsiders.” Coauthored with Richard Frankel, Journal of Accounting and Economics, vol. 37, 229-259, June 2004
Service to the University/Community
Dr. Li serve as ad-hoc referees for various accounting and finance journals in the academic community. He has also served as dissertation committee members for PhD students. At University of Hong Kong, Dr. Li is member of IT committee in the School of Business and he frequently contributes to the interviewing services for the admission of undergraduate and graduate students.