Fan, Joseph P.H.

Biography

Prof. Joseph Fan is Professor of School of Accountancy and Department of Finance of The Chinese University of Hong Kong (CUHK). He holds a PhD in finance of University of Pittsburgh, U.S. and a bachelor’s degree in economics of National Taiwan University. Before joining CUHK in 2004, he was on faculty of Hong Kong University of Science and Technology and University of Hong Kong.

Prof. Fan is a world leading expert and one of the most cited researchers in finance and governance of emerging market corporations – almost 18,000 citations in Google Scholar (April 2020) and 3,800 in SSCI (September 2019). His research topics cover organisational pyramids, finance, and governance of Chinese SOEs, and succession, marriage, ownership structure and governance of family firms and business families in Asia and China. He has published his research works in top academic journals, including Journal of Finance, Journal of Financial Economics, Journal of Corporate Finance, Journal of Accounting and Economics, and Journal of Accounting Research. He has served the editorial board of several international journals, including Financial Management, Journal of Corporate Finance, Management Science, and Review of Finance.

Prof. Fan is author of The Family Business Map and several other books about family business governance and succession. His insights have been frequently cited by global business press, including The Economist, New York Times, Wall Street Journal, and Financial Times.

Prof. Fan teaches executive courses and serves as a corporate governance expert for international organisations including OECD and the World Bank. He is married with two children.

Teaching Areas

Corporate Governance
Family Firm Governance

Research Interests

Corporate Governance
Family Firm Governance
Corporate Finance

• Publications & Working Papers
  • Joseph P.H. Fan and Winnie S.C. Leung, “The Impact of Ownership Transferability on Family Firm Governance and Performance: The Case of Family Trusts,” Journal of Corporate Finance, forthcoming.
  • Joseph P.H. Fan, Jun Huang, Felix Oberholzer-Gee, and Mengxin Zhao, “Bureaucrats as Managers and Their Roles in Corporate Diversification,” Journal of Corporate Finance, forthcoming.
  • Joseph P.H. Fan, Jun Huang, Randall Morck, and Bernard Yeung (2017), “Institutional Determinants of Vertical Integration in China,” Journal of Corporate Finance, 44, 524-539.
  • Joseph P.H. Fan, Li Jin, and Guojian Zheng (2016), “Revisiting the Bright and Dark Sides of Capital Flows in Business Groups,” Journal of Business Ethics, 134(4), 509-528.
  • Morten Bennedsen, Joseph P.H. Fan, Ming Jian, and Yin-Hua Yeh (2015), “The Family Business Map: Framework, Selective Survey, and Evidence from Chinese Family Firm Succession,” Journal of Corporate Finance, 33, 212-226.
  • Joseph P.H. Fan, T.J. Wong, and Tianyu Zhang (2014), “Politically Connected CEOs, Corporate Governance, and Post-IPO Performance of China’s Newly Partially Privatized Firms,” Journal of Applied Corporate Finance, 26(3), 85-95.
  • Joseph P.H. Fan, Feng Guan, Zengquan Li, and Yong George Yang (2014), “Relationship Networks and Earnings Informativeness: Evidence from Corruption Cases,” Journal of Business Finance and Accounting, 41(7-8), 831-866.
  • Joseph P.H. Fan, Jun Huang, and Ning Zhu (2013), “Institutions, Ownership Structures, and Distress Resolution in China,” Journal of Corporate Finance, 23, 71-87.
  • Joseph P.H. Fan, T.J. Wong, and Tianyu Zhang (2013), “Institutions and Organisational Structure: The Case of State-Owned Corporate Pyramids,” The Journal of Law, Economics, & Organisation, 29(6), 1217-1252.
  • Joseph P.H. Fan, Stuart L. Gillan, and Xin Yu (2013), “Innovation or Imitation? The Role of Intellectual Property Rights Protections,” Journal of Multinational Financial Management, 23(3), 208-234.
  • Joseph P.H. Fan, Stuart L. Gillan, and Xin Yu (2013), “Property Rights, R&D Spillovers, and Corporate Accounting Transparency in China,” Emerging Markets Review, 15, 34-56.
  • Pramuan Bunkanwanicha, Joseph P.H. Fan, and Yupana Wiwattanakantang (2013), “The Value of Marriage to Family Firms,” Journal of Financial & Quantitative Analysis, 48(2), 611-636.
  • Joseph P.H. Fan and Randall Morck (2012), Capitalising China,  The University of Chicago Press.
  • Joseph P.H. Fan, Randall Morck, and Bernard Yeung (2012), “Capitalizing China – Translating Market Socialism with Chinese Characteristics into Sustained Prosperity.” In Capitalizing China, edited by Joseph P.H. Fan and Randall Morck, The University of Chicago Press, pp. 1-32.
  • Joseph P.H. Fan, Sheridan Titman, and Garry Twite (2012), “An International Comparison of Capital Structure and Debt Maturity Choices,” Journal of Financial & Quantitative Analysis, 47(1), 23-56.
  • Joseph P.H. Fan, T.J. Wong, and Tianyu Zhang (2012), “Founder Succession and Accounting Properties,” Contemporary Accounting Research, 29(1), 283-311.
  • Joseph P.H. Fan, K.C. John Wei, and Xinzhong Xu (2011), “Corporate Finance and Governance in Emerging Markets: A Selective Review and An Agenda for Future Research,” Journal of Corporate Finance, 17(2), 207-214.
  • Joseph P.H. Fan, Li Jin, and Winnie S. C. Leung (2010), “Formosa Plastics Group: Business Continuity Forever,” Harvard Business School Case (N9-210-026).
  • Joseph P.H. Fan, Randall Morck, Lixin Colin Xu, and Bernard Yeung (2009), “Institutions and Foreign Direct Investment: China versus the Rest of the World,” World Development, 37(4), 852-865.
  • Joseph P.H. Fan, Oliver Meng Rui, and Mengxin Zhao (2008), “Public Governance and Corporate Finance: Evidence from Corruption Cases,” Journal of Comparative Economics, 36(3), 343-364.
  • Joseph P.H. Fan, T.J. Wong, and Tianyu Zhang (2007), “Politically Connected CEOs, Corporate Governance, and Post-IPO Performance of China’s Newly Partially Privatized Firms,” Journal of Financial Economics, 84(2), 330-357.
  • Joseph P.H. Fan, and Vidhan Goyal (2006), “On the Patterns and Wealth Effects of Vertical Mergers,” Journal of Business, 79(2), 877-902.
  • Stijn Claessens, Joseph P.H. Fan, and Larry Lang (2006), “The Benefits and Costs of Group Affiliation: Evidence from East Asia,” Emerging Markets Review, 7(1), 1-26.
  • Joseph P.H. Fan and T.J. Wong (2005), “Do External Auditors Perform A Corporate Governance Role in Emerging Markets? Evidence from East Asia,” Journal of Accounting Research, 43(1), 35-72.
  • Stijn Claessens, Simeon Djankov, Joseph P.H. Fan, and Larry Lang (2003), “When Does Corporate Diversification Matter to Productivity and Performance? Evidence from East Asia,” Pacific-Basin Finance Journal, 11(3), 365-392.
  • Stijn Claessens, Simeon Djankov, Joseph P.H. Fan, and Larry Lang (2002), “Disentangling the Incentive and Entrenchment Effects of Large Shareholdings,” Journal of Finance, 57(6), 2741-2771.
  • Joseph P.H. Fan and T.J. Wong (2002), “Corporate Ownership Structure and the Informativeness of Accounting Earnings in East Asia,” Journal of Accounting and Economics, 33(3), 401-425.
  • Joseph P.H. Fan (2000), “Price Uncertainty and Vertical Integration: An Examination of Petrochemical Firms“, Journal of Corporate Finance, 6(4), 345-376.
  • Joseph P.H. Fan and Larry H.P. Lang (2000), “The Measurement of Relatedness: An Application to Corporate Diversification,” Journal of Business, 73(4), 629-660.

• Grants
  • “Family Ownership Structures and Corporate Policies: The Case of Family Trust (家族股權結構與公司政策：家族信託的研究)”, General Research Fund awarded by Research Grants Council, 2012-2014
  • “Property rights, R&D Spillovers and Corporate Accounting Transparency in China (所有權，研發溢出與公司會計透明度)”, General Research Fund awarded by Research Grants Council, 2011-2012
  • “Relationship-based Assets and Accounting Properties: Evidence from Corruption Cases in China (關系型資產與會計訊息特性：來自中國貪腐案件的証據)”, General Research Fund awarded by Research Grants Council, 2010-2011
  • “Institutions and Firm Behaviors in Financial Distress (制度因素與財務困境中企業的行為)”, General Research Fund awarded by Research Grants Council, 2009-2011
  • “The Succession of Family Firms in Asia (亞洲家族企業的繼承問題)”, General Research Fund awarded by Research Grants Council, 2006-2008
  • “An International Comparison of Corporate Financial Policy (公司財務政策的國際比較)”, General Research Fund awarded by Research Grants Council, 2003-2006