Daxuan Zhao

Research Interests

• Real Estate; Corporate Finance; China Economy

Education

• Ph.D., National University of Singapore, 2013.
• M.Sc., Nanjing University, China, 2008.
• B.Sc., Nanjing University, China, 2005.

Working Experiences

• Research Scientist, Agency for Science, Technology and Research, Singapore, 2013-2015.
• Research Fellow, Institute of Real Estate Studies, National University of Singapore, 2012-2013.

Teaching

• Advanced Microeconomics (Postgraduate Level, Renmin University of China)
• Financial Management (Undergraduate Level, English Taught, Renmin University of China)
• Financial Management (MBA Level, Renmin University of China)
• International Finance (MBA Level, Renmin University of China)
• Real Estate Investment (Undergraduate Level, National University of Singapore)

Honors and Awards

• Best Teaching Award for Undergraduate Program in Renmin University of China, 2020
• Best Paper Award in China Institute of Real Estate Appraiser and Agents annual Meeting, 2019.
• Best Referee Award for Frontiers of Business Research in China, 2019.
• Best Paper Award in Global Chinese Real Estate Society Annual Meeting, 2017.
• President's Graduate Fellowship in National University of Singapore, 2011.
• Research Scholarship in National University of Singapore, 2008-2012.
• Excellence Fellowship for Postgraduate Students in Nanjing University, 2005-2008.
• Excellence Fellowship for Undergraduate Students in Nanjing University, 2001-2005.

Selected Publication

1. "Option Compensation, Risky Mortgage Lending, and the Financial Crisis" with Yongqiang Chu, Xinming Li and Tao Ma, Journal of Corporate Finance, 2021, 70, 102052.
2. "What Motivates Chinese Leadership: Evidence from COVID-19 Reopenings in China" with Raymond J. Fisman, Cong Sun, and Yongxiang Wang, Journal of Public Economics, 2021,196(4), 104389.
3. "Urban Inclusiveness and Income Inequality in China" with Leiju Qiu, Regional Science and Urban Economics, 2019,74, 57-64.
4. "Corporate Real Estate Ownership and Productivity Uncertainty" with Tien Foo Sing, Real Estate Economics, 2016, 44(2), 521–547.
5. "Water Pollution Progress at Borders: The Role of Changes in China’s Political Promotion Incentives" with Matthew E. Kahn, and Pei Li, American Economic Journal: Economic Policy, 2015, 7(4), 223-42.
6. "Foreign Liquidity to Real Estate Market:Ripple Effect and Housing Price Dynamics" with Wen-Chi Liao, Li Ping Lim, and Grace Khei Mie Wong, Urban Studies, 2015, 52(January), 138-158.
7. "Risk Attitude and Housing Wealth Effect" with Wen-Chi Liao, Tien Foo Sing, Journal of Real Estate Finance and Economics, 2014, 48(3), 467-491.