Profile image of Hong Feng Zhang

A/Prof. Hong Feng Zhang



Associate Professor


Faculty of Business and Law


BL 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 "John" Feng Zhang is a Senior Lecturer in the Department of Finance in Deakin Business School.  John received his PhD 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.

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
  • Investments

Units taught

  • MAF101 - Fundamentals of Finance
  • MAF203 - Business Finance
  • MAF302 - Corporate Finance
  • MAF453 - Advanced Corporate Finance
  • MAF711 - Modelling Techniques for Finance
  • MAF764/MAF903 - Advanced 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


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

Wei Opie, Gary Tian, Hong Zhang

(2018), 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, London, Eng., 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, 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, C1

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, C1

journal article

Effects of financial constraints on corporate policies in Australia

X Chang, T Tan, G Wong, H Zhang

(2007), Vol. 47, pp. 85-108, Accounting and Finance, 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

  • 2012: $4,500


Associate Supervisor

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