Staff profile - Hong Feng Zhang

Staff image

Dr Hong Feng Zhang

Position: Senior Lecturer
Faculty or Division: Faculty of Business and Law
Department: BL Deakin Business School
Campus: Melbourne Burwood Campus
Phone: +61 3 924 46547 +61 3 924 46547


Biography summary

(John) Hong Feng Zhang joined School of Accounting Economics and Finance as Lecturer in finance in 2008. He received his Ph.D. in Finance from the University of Melbourne in 2008. Dr Zhang's research interests include corporate finance, corporate governance and research in Chinese financial markets.


  • Bachelor of Economics, Shanghai University, 1993
  • Doctor of Philosophy, University of Melbourne, 2008
  • Graduate Certificate of Higher Education, Deakin University, 2009


Subjects and units currently teaching

MAF101 Fundamentals of Finance

MAF203 Business Finance

MAF302 Corporate Finance

MAF453 Advanced Corporate Finance

MAF711 Modelling Techniques for Finance

MAF764/903 Advanced Corporate Finance

Student supervision

1. Gang Wang, PhD student, 2009 -2013,  "An Empirical Study of IPOs Underpricing in the Chinese Stock Market".

2. Jianan Guo, PhD student, 2009-2013, "The Dividend Policy in the Chinese Equity Market".

3. Wen Hua Sharpe, PhD student, 2011-2015, "Determinants of Corporate Capital Structure: A Comparison of Public and Private Firms".

Conferences and seminars

1.The 21st Australasian Finance & Banking Conference 2008

2.The Asian Finance Association (AsianFA) annual conference 2009, 2010 and 2011

3.China International Conference in Finance 2011 and 2013


Awards and prizes

The 2007 Peter Brownell Manuscript Award for the best paper published in Accounting and Finance for the coauthored paper, “The Effects of Financial Constraints on Corporate Policies in Australia”.


Research interests

Theoretical and empirical corporate finance, corporate governance

Emerging financial markets

Research grants

Australian Center for Financial Studies research grant 2011



1. The Role of Optimistic News Stories in IPO Pricing (with Peter Carey and Victor Fang), 2016, Journal of International Financial Markets, Institutions and Money 41, 16-29.

2. Managerial Entrenchment and Firm Value: A Dynamic Perspective (with Xin Chang), 2015, Journal of Financial and Quantitative Analysis 50, 1083-1103.

3. Investor heterogeneity and the cross-sectional stock returns in China (with Wei Opie), 2013, Pacific Basin Finance Journal 25, 1-20.

4. “The Effect of Financial Constraints, Investment Policy, Product Market Competition and Corporate Governance on the Value of Cash Holdings” (with Howard Chan and Yufei Lu), 2013, Accounting and Finance 53, 339-366.

5. “Audit quality, auditor compensation and initial public offering underpricing” (with Xin Chang, Andre F. Gygax, and Elaine Oon), 2008, Accounting and Finance 48(3), 391-416.

6. “The Effects of Financial Constraints on Corporate Policies in Australia” (with Xin Chang, Tek Jun Tan, and George Wong), 2007, Accounting and Finance 47, 85-108.

Link to publications

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