Li Yao, PhD

Li Yao earned his PhD in Management (major in Accounting, minor in Finance) from the Krannert School of Management, Purdue University.

Dr. Yao’s research interests include financial reporting, empirical asset pricing and security valuation, financial intermediaries, and voluntary disclosures. He has published in leading academic journals such as Journal of Accounting, Auditing & Finance, Journal of Corporate Finance, Managerial Auditing Journal, Asia-Pacific Journal of Accounting & Economics, and Canadian Journal of Administrative Sciences. He is currently on the editorial team of Asian Review of Accounting. His research projects have been funded by Social Sciences and Humanities Research Council (SSHRC, Government of Canada), Fonds de Recherche du Québec - Société et Culture (FRQSC, Government of Quebec), and CPA Canada–CAAA Research Program. His research has also been presented in various international conferences and invited workshops, and been summarized in professional publications such as CFA digest. 

Dr. Yao's teaching interest is financial accounting, which is closely tied to his research agenda.

Education

PhD (Purdue University)

Areas of expertise

Financial Reporting
Empirical Asset Pricing and Security Valuation
Financial Intermediaries
Voluntary Disclosure

Yao, L. “'Discussion of busy CEO and financial statement footnotes readability: evidence from Indonesia”, Asian Review of Accounting, accepted manuscript (invited discussion).

Chen, S., Q. Liu & L. Yao “Do Analysts’ Earnings Forecasts Exclude Earnings Management? Evidence from Audit Adjustments”, Asia-Pacific Journal of Accounting & Economics, accepted manuscript.

Chen, S., M. Magnan, Z. Tian & L. Yao “Do Adjustments Bring Auditors Peace of Mind? The Effect of Previous Audit Adjustments on Current-Year Audit Pricing”, Managerial Auditing Journal, 2023 V38(3), 241-263.

Naaman, C., M. Magnan, A. Hammami & L. Yao “Credit Unions vs. Commercial Banks, Who Takes More Risk?”, Research in International Business and Finance, 2021, V(55), 101340.

Tang, M. & L. Yao., “The Impact of Consumer Sentiment on Analysts’ Forecast Frequency and Private Information Discovery”, Journal of Accounting, Auditing & Finance, 2019 V34(3), 385-410.

Chen, C. L., J. B. Kim & L. Yao., “Earnings Smoothing: Does It Exacerbate or Constrain Stock Price Crash Risk?”, Journal of Corporate Finance, 2017, V42, 36–54. Summarized in CFA Digest, 2017, V47(9), by Marla Howard, CFA

Yao, L., “Earnings Persistence, Fundamentals, and Anticipation of Breaking Earnings Strings”, Canadian Journal of Administrative Sciences, 2017, V34, 260–276.