Profile image of Xiaoyang Li

A/Prof. Xiaoyang Li



Associate Professor


Faculty of Business and Law


Deakin Business School


Melbourne Burwood Campus


Xiaoyang Li is an Associate Professor in the Department of Finance at Deakin Business School. Prior to joining Deakin, he was an Associate Professor of Finance at the Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University. He received his PhD from the University of Michigan in 2011.

He has published in the Journal of Financial Economics, Review of Finance, Strategic Management Journal, and Journal of Corporate Finance, among others. His broad teaching and research interests cover topics in mergers and acquisitions, corporate governance and innovation.

Read more on Xiaoyang's profile

Research interests

Mergers and Acquisitions

Corporate Governance

Entrepreneurship and Innovation

Units taught

Corporate Finance

Professional activities

Google Scholar:


2010 Kauffman Dissertation Fellow


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Autonomy, incentive and trade: How does trade liberalisation reshape corporate decentralisation in China?

X Li, X Zhou

(2021), Vol. 44, pp. 3050-3068, World Economy, C1

journal article

The complicit role of local government authorities in corporate bribery: Evidence from a tax collection reform in China

C Cao, X Li, C Xia

(2021), Vol. 65, China Economic Review, C1

journal article

Diversity and inclusion: Evidence from corporate inventors

Chunfang Cao, Xiaohui Li, Xiaoyang Li, Cheng Zeng, Xuan Zhou

(2021), Vol. 64, pp. 295-316, Journal of Empirical Finance, Amsterdam, The Netherlands, C1

journal article

Imitating to export

X Li, A Liu

(2019), Vol. 53, pp. 254-270, China economic review, Amsterdam, The Netherlands, C1-1

journal article

Political uncertainty and cross-border acquisitions

Chunfang Cao, Xiaoyang Li, Guilin Liu

(2019), Vol. 23, pp. 439-470, Review of finance, Oxford, Eng., C1-1

journal article

Origin matters: the differential impact of import competition on innovation

X Li, M Zhou

(2017), Vol. 36, pp. 386-427, Advances in Strategic Management, Bingley, England, B1-1

book chapter

Career concerns and the busy life of the young CEO

Xiaoyang Li, Angie Low, Anil Makhija

(2017), Vol. 47, pp. 88-109, Journal of corporate finance, Amsterdam, The Netherlands, C1-1

journal article

Offshoring pollution while offshoring production?

Xiaoyang Li, Yue Zhou

(2017), Vol. 38, pp. 2310-2329, Strategic management journal, Chichester, Eng., C1-1

journal article

Does brain drain lead to institutional gain?

Xiaoyang Li, John McHale, Xuan Zhou

(2017), Vol. 40, pp. 1454-1472, The world economy, Chichester, Eng., C1-1

journal article

The curious case of converts

Xiaoyang Li, Shannon Lin, Alan Tucker

(2016), Vol. 31, pp. 1-17, Global finance journal, Amsterdam, The Netherlands, C1-1

journal article

Origin matters: The differential impact of import competition on innovation

X Li, Y Zhou

(2015), pp. 1-40, Working Paper, Ann Arbor, Michigan, C1-1

journal article

Productivity, restructuring, and the gains from takeovers

Xiaoyang Li

(2013), Vol. 109, pp. 250-271, Journal of financial economics, Amsterdam, The Netherlands, C1-1

journal article

Workers, unions, and takeovers

Xiaoyang Li

(2012), Vol. 33, pp. 443-460, Journal of labor research, New York, N.Y., C1-1

journal article

Subsidiary divestiture and acquisition in a financial crisis: operational focus, financial constraints, and ownership

Yue Zhou, Xiaoyang Li, Jan Svejnar

(2011), Vol. 17, pp. 272-287, Journal of corporate finance, Amsterdam, The Netherlands, C1-1

journal article

Funded Projects at Deakin

Industry and Other Funding

Do market-wide circuit breakers calm markets or panic them? Evidence from COVID-19 pandemic

A/Prof Xiaoyang Li

Accounting & Finance Assoc of Australian & New Zealand Grant - Research

  • 2020: $6,500


No completed student supervisions to report