Profile image of Hong Feng Zhang

A/Prof. Hong Feng Zhang



Associate Professor


Faculty of Business and Law


Deakin Business School


Melbourne Burwood Campus


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

+61 3 924 46547


Dr Hong Feng (John) Zhang is an Associate Professor at the Department of Finance, Deakin Business School. He received his PhD in Finance from the University of Melbourne in 2008.

Dr Zhang's main research interests include empirical corporate finance, corporate governance and empirical research in Chinese financial markets.

Read more on Hong Feng's profile

Research interests

  • Theoretical and empirical corporate finance
  • Corporate governance
  • Emerging financial markets

Teaching interests

  • Corporate Finance
  • Financial Modelling in Excel
  • Empirical Methods

Units taught

  • MAF101 - Fundamentals of Finance
  • MAF203 - Business Finance
  • MAF302 - Corporate Finance
  • MAF711 - Modelling Techniques for Finance
  • MAF764/MAF903 - Advanced Corporate Finance
  • MAF907 Empirical Methods in Corporate Finance


  • The 21st Australasian Finance & Banking Conference, 2008.
  • The Asian Finance Association (AsianFA) annual conference, 2009, 2010 and 2011.
  • China International Conference in Finance, 2011 and 2013.


  • The Peter Brownell Manuscript Award, Best Paper Published in Accounting and Finance, 'The Effects of Financial Constraints on Corporate Policies in Australia', 2007.


  • Cross-border mergers and acquisitions
  • Funds allocations and financial policies


Filter by


Banks' investments in fintech ventures

Emma Li, Mike Mao, Hong Zhang, Hao Zheng

(2023), Vol. 149, pp. 1-15, Journal of Banking and Finance, Amsterdam, The Netherlands, C1

journal article

Being private, Big 4 auditors, and debt raising

W Sharpe, P Carey, H Zhang

(2022), pp. 1-51, Accounting and Finance, London, Eng., C1

journal article

Corporate pyramids, geographical distance, and investment efficiency of Chinese state-owned enterprises

Wei Opie, Gary Tian, Hong Zhang

(2019), Vol. 99, pp. 95-120, Journal of banking and finance, Amsterdam, The Netherlands, C1

journal article

Corporate Hedging and the High Idiosyncratic Volatility Low Return Puzzle

M Chng, V Fang, V Xiang, H Zhang

(2017), Vol. 17, pp. 395-425, International Review of Finance, C1

journal article

The role of optimistic news stories in IPO pricing

P Carey, V Fang, H Zhang

(2016), Vol. 41, pp. 16-29, Journal of international financial markets, institutions and money, Amsterdam, The Netherlands, C1

journal article

Managerial entrenchment and firm value: a dynamic perspective

X Chang, H Zhang

(2015), Vol. 50, pp. 1-21, Journal of financial and quantitative analysis, Cambridge, Eng., C1

journal article

The effect of financial constraints, investment policy, product market competition and corporate governance on the value of cash holdings

H Chan, Y Lu, H Zhang

(2013), Vol. 53, pp. 339-366, Accounting and finance, Richmond, Vic., C1

journal article

Investor heterogeneity and the cross-sectional stock returns in China

W Opie, H Zhang

(2013), Vol. 25, pp. 1-20, Pacific-Basin finance journal, Amsterdam, The Netherlands, C1

journal article

Regulation of the Activity and Expression of Aryl Hydrocarbon Receptor by Ethanol in Mouse Hepatic Stellate Cells

Hong Zhang, Xing Lin, Hong Yang, Li Zhou, Yang Guo, Joey Barnett, Zhong Guo

(2012), Vol. 36, pp. 1873-1881, ALCOHOLISM-CLINICAL AND EXPERIMENTAL RESEARCH, England, C1-1

journal article

Audit quality, auditor compensation and initial public offering underpricing

X Chang, A Gygax, E Oon, H Zhang

(2008), Vol. 48, pp. 391-416, Accounting and finance, Milton, Qld, C1

journal article

The effects of financial constraints on corporate policies in Australia

H Zhang, X Chang, T Tan, G Wong

(2007), Vol. 47, pp. 85-108, Accounting and finance, Clayton, Vic., C1-1

journal article

Funded Projects at Deakin

Industry and Other Funding

Fundamental Uncertainty, Excess Cash Holdings, and Investment

A/Prof Hong Feng Zhang, A/Prof Howard Chan

Aust Centre for Financial Studies

  • 2012: $4,500


Associate Supervisor

Kaddijatou Manneh

Thesis entitled: Equity Crowdfunding and Financial performance of United Kingdom Firms

Doctor of Philosophy, Department of Accounting


Hao Zheng

Thesis entitled: Three Essays in Corporate Finance and Financial Intermediation

Doctor of Philosophy, Department of Finance


Wen Hua Sharpe

Thesis entitled: Determinants of Corporate Capital Structure: A Comparison of Public and Private Firms

Doctor of Philosophy, Department of Accounting


Jianan Guo

Thesis entitled: Dividend Payout Policy in the Chinese Equity Market

Doctor of Philosophy, School of Accounting, Economics & Finance

Gang Wang

Thesis entitled: An empirical study of IPOs' underpricing in Chinese stock market

Doctor of Philosophy, School of Accounting, Economics & Finance