Personal Statement
Dr. Yang Zhao studies the impact of professional and social networks on issues in corporate finance and corporate governance, which includes executive compensation, mergers and acquisitions, executive turnover and insider trading. His research finds that director networks can create informational advantages, which improve companies' operational efficiency when information asymmetry is present. On the other hand, directors can gain managerial power via director networks, which would give rise to entrenchment and excessive compensation.

Dr. Yang Zhao is also interested in the following areas of research:

Director networks
Insider trading
Corporate innovation
Corporate governance

Research Overview
Dr. Yang Zhao studies the impact of professional and social networks on issues in corporate finance and corporate governance, which includes executive compensation, mergers and acquisitions, executive turnover and insider trading. His research finds that director networks can create informational advantages, which improve companies' operational efficiency when information asymmetry is present. On the other hand, directors can gain managerial power via director networks, which would give rise to entrenchment and excessive compensation.

Dr. Yang Zhao is also interested in the following areas of research:

Director traits, experience and background
Corporate innovation
Academic networks
Culture