Skip to content Skip to main navigation

Academic Areas

Building on
a Century of Excellence

Academic Areas


Dr. Dan LI


Assistant Professor

[ Personal Website ]

3917 4176
Dr. Dan LI

Hidden Script

[Do not edit or remove this area]
There are 3 sections for "Publications" with 'More...':
1st Section Name: [Selected Publications]
- List the 10 latest publications in this section
2nd Section Name [ 'blank' ] <Delete this Section if no content>
- List the remaining older publications
3rd Section Name [ 'blank' ] <Delete this Section if no content>
- With function to show 'More...' and the edit link to personal homepage


Dr. Dan LI received her Ph.D. in Finance from York University, and joined The University of Hong Kong (HKU) as Assistant Professor of Finance in 2011.  She also holds a B.A. and a M.A. in Economics from Fudan University, and a M.A. in Economics from York University. Before joining HKU, Dan also conducted research for Capital Markets CRC Ltd, and the Investment Industry Regulatory Organization of Canada.

Dan’s research interests are in empirical corporate finance, entrepreneurship, high-frequency trading, mergers and acquisitions, and law and finance.  She has published several papers in academic journals include Journal of Financial Economics, Journal of International Financial Markets, Institutions and Money, Journal of Corporate Finance, and Corporate Governance: an International Review.

Areas of Interest

  • Empirical Corporate Finance
  • Entrepreneurship
  • High-Frequency Trading
  • Mergers and Acquisitions
  • Law and Finance


  • Ph.D., M.A., York University
  • M.A., B.A.,  Fudan University

Selected Publications

  • "The Effect of Stock Liquidity on Default Risk,"
    (with Jonathan Brogaard and Ying Xia), Forthcoming in Journal of Financial Economics.
  • "Do Banks or VCs Spur Growth?"
    (with Rebel Cole and Douglas Cumming), Journal of International Financial Markets, Institutions and Money  41 (2016), pp. 60-72. (Scheduled to be featured in Wall Street Journal.)
  • "Public Policy, Entrepreneurship, and Venture Capital in the United States,"
    (with Doug Cumming), Journal of Corporate Finance 23 (2013), pp. 345-367.
  • "Exchange Trading Rules and Stock Market Liquidity,"
    (with Doug Cumming and Sofia Johan), Journal of Financial Economics 99 (2011), pp. 651-671.
  • "Run-Up of Acquirer's Stock in Public and Private Acquisitions,"
    (with Doug Cumming), Corporate Governance: an International Review 19 (2011), pp. 210-239.

Working Papers

  • "Correlated High Frequency Trading,"
    (with Ekkehart Boehmer and Gideon Saar), R&R.
  • "Fraud in Online Marketplace Lending: Lessons from Platform Failure in China"
    (with Haitian Lu, Zhen Lei and Gang Hu).

For a full and up-to-date profile, please visit


Office Room 819, KK Leung Building
Tel. (852) 3917 4176

Back to top

Back to top

Join FBE Mailing List

* Required Field


  • Fill in all required fields *.
  • Please make sure all the above personal data is correct and you are strongly encouraged to notify the Faculty of Business and Economics of The University of Hong Kong via email: if there are any changes in your contact information.

Personal Data Collection

The Faculty of Business and Economics will send you information related to the Faculty including news, event updates, newsletters and/or promotional information through the personal data which you have provided. The Faculty will keep all personal data strictly confidential and will not provide contacts in any form to a third party. If you do not wish to receive information from the Faculty, please contact