
Aiwu Zhao
Contact Information & Background
Associate Professor
Department of Management & Business
azhao@skidmore.edu
Phone: 518-580-5105
Office: PMH 212
Vitae
Curriculum Vitae
Education
- Ph.D., major in finance, minor in statistics, Kent State University
- M.A., financial economics, Kent State University
- M.A., media management, Kent State University
- B.S., economics, Tsinghua University
Courses
- MB 309 Banking and Financial Services Management
- MB 338 Foundations of Finance
- MB 339 Investments
Teaching and Research Interests
Aiwuâs primary teaching interests are corporate finance, investments, and global financial
institutions. In addition to finance courses, Aiwu teaches first-year-experience seminar
on topics related capitalism and globalization. She also works closely with students
on various research projects ranging from corporate governance, emerging markets,
to capital market efficiency. Besides teaching college students, Aiwu also had experiences
in training new hires for top financial firms on Wall Street.
Aiwuâs research interests concentrate on corporate finance, investments, and international
finance. She tackles research topics in corporate finance with a focus on agency cost
and real options theories, a challenging field that is related to risk dynamics and
strategic decisions, both are underdeveloped territories yet with potential to bring
breakthrough to corporate finance studies. She also investigates market efficiency
of several capital markets, such as that of U.S., Vietnam, and China.
Publications
- Li, T., Zhao, X. and Zhao, A. (2019), "Voting with hands, earnings management and
corporate governance", Review of Accounting and Finance, Vol. 18 No. 2, pp. 178-197.
- Holder, M., & Zhao, A., (2015) âValue Exploration and Materialization in Diversification
Strategiesâ, Review of Quantitative Finance and Accounting, Volume 45, Issue 1, pp 175-213.
- Zhao, A., & Yu, B. (2014) âHeterogeneity between âVote-with-Handâ and âVote-with-Feetâ
Shareholdersâ, Academy of Accounting and Financial Studies Journal, Volume 18 (No. 3), pp. 29-44.
- Los, C., & Zhao, A. (2014) âFractional Integration and Dividend Yield Predictabilityâ,
Journal of Applied Financial Research 2014 (Vol. 1), pp. 37-54.
- Zhao, A., Cheng, S., & Kang, Z. (2013). âLong-term Dependencies of Neglected and Popular
Stocksâ, Applied Financial Economics, Volume 23, Issue 12, pp. 1005-1015.
- Zhao, A., & Paget-Brown, M. (2013). âIdiosyncratic Risk and Performance of Hedge Fundsâ
Journal of Investing, Vol. 22, No. 2: pp. 120-127.
- Kang, Z., Maysami, R., & Zhao, A., (2011), âInvestigation on Two Alternative Model-free
Realized Volatility Estimatorsâ, Journal of Finance and Accountancy 8 (December), pp. 1-13.
- Zhao, A., & Brehm, A., (2011), âCumulative Voting and the Conflicts between Board
and Minority Shareholdersâ, Managerial Finance 37 (No. 5), pp.465-473.
- Zhao, A., & Ma, J., (2006), âDo Chinese Investors Appreciate Market Power or Competitive Capacity?â Business Research Yearbook (Vol. XIII), pp.195-201.