X. Frank Zhang
Short-Term Earnings Goals Drive More Pollution, Especially for Green Companies
Yale SOM’s Frank Zhang and Jacob Thomas found that firms might increase their pollution when they’re struggling to meet earnings targets—and that firms with a history of environmental responsibility are most likely to engage in this pattern.
Requiring Short Seller Disclosure Could Distort Markets
A study by Yale SOM's Frank Zhang suggests that requiring disclosures of short positions would lead some investors to make decisions based on others’ short positions, rather than information about a firm; this “herding” could drive stock prices away from their true value.
Study Suggests That Local Chinese Officials Manipulate GDP
A study by Yale SOM’s Frank Zhang suggests that local Chinese governments often push through projects without long-term economic value, or fabricate numbers outright, in order to meet GDP targets.
Three Questions: Prof. X. Frank Zhang on the Drop in Charitable Giving
Adjusted for inflation, charitable giving in the United States fell by 1.7% in 2018, We asked Prof. X. Frank Zhang what explains the decline and how policymakers can encourage more giving.