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Building on
a Century of Excellence

Academic Staff


Dr. Ruoyan HUANG


Assistant Professor

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Dr. Ruoyan HUANG

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Dr. Ruoyan HUANG received her Ph.D. in Finance from the University of Rochester in 2016.  She also holds a Bachelor’s degree in Economics from Peking University, and a Master of Science degree in Business Administration from the University of Rochester.  Ruoyan joined The University of Hong Kong in 2016.

Ruoyan’s research interests include corporate finance, dynamic contracting, entrepreneurial finance, and labour and finance.  Her job market paper, “Executive Job Matching: Estimates from a Dynamic Model,” evaluates how CEOs’ and firms’ learning about their fit with one another affects CEO turnover and compensation decisions.  Using a hand-collected dataset of CEO turnover, Ruoyan discovers that the speed and precision of learning determine the level and length of the “discovery phase” of the conditional hazard rate curve.  She also finds that CEO compensation demonstrates a firm’s evaluation of the match quality and is predictive of the expected future tenure of its CEO.  In short, Ruoyan demonstrates the importance of learning and selection in explaining the relations between CEO compensation, CEO turnover, and firm performance.

Area of Interest

  • Corporate Finance
  • Dynamic Contracting
  • Entrepreneurial Finance
  • Labour and Finance
  • Economic History


  • Ph.D., University of Rochester
  • M.S.B.A., University of Rochester
  • B.A., Peking University

Selected Publications

  • "Why didn't Coins of the Late Northern Zhou Dynasty Mark their Metal Value?" (Printed in Chinese as “北周后期为何货币不标明重量”),
    Journal of Further Education of Shaanxi Normal University, 24.2 (2007): 55-58.



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