Education

2005/09－2010/01     Tsinghua University  Ph.D. in Accounting

2003/09－2005/07     Sun Yat-Sen University  Master in Accounting

1996/09－2000/07     Zhongnan University of Economics and Law  B.A. in Finance

Working Experiences

Professor,  Renmin University of China,  09/2018 – present

Associate Professor,  Central University of Finance and Economics,  10/2012 – 08/2018

Assistant Professor,  Central University of Finance and Economics,  06/2010 – 09/2012

Visiting Scholar,  University of Texas at Dallas,  02/2014 – 02/2015  

Research Assistant,  The University of Hong Kong,  12/2013 –01/2014                                  

Research Assistant,  The University of Hong Kong,  07/2013 – 08/2013

Research Assistant,  The University of Hong Kong,  06/2012 – 08/2012

Research Associate,  Chinese University of Hong Kong,  01/2012 – 04/2012

Post-Doctor,  Chinese University of Hong Kong,  07/2011 – 08/2011

Teaching fellow,  Tsinghua University,  09/2010 – 12/2011

Post-Doctor,  hinese University of Hong Kong,  04/2010 – 09/2010

Research Assistant,  Chinese University of Hong Kong,  10/2008 – 03/2010

Auditor,  GP Certified Public Accountants,  02/2002 – 08/2003

Auditor,  Zhong Tianqin Certified Public Accountants,  07/2000 – 12/2001

Earnings Management and Information Disclosure; Financial Analysts Behavior;Firm Valuation and Investment DecisionAccounting Standards and Accounting Quality

Auditing; Big Data Auditing; Financial Accounting (MBA); Theory and Practice of Advanced Auditing (MPAcc); Statistical Analysis for Management Research (DMgt); Financial Reporting Analysis (EE); Corporate Finance (MPAcc); Business and Professional Ethics for Accountants

Selected Academic Articles

[1]  Xu, Ruiyao, Juxian Wang, Yutao Wang. 2022. Does the Development of Enterprise Blockchain Affect Auditors’Behaviors? Accounting and Economic Research (Chinese Journal). 6: 38-50.

[2]  Dong, Tianyi, Guihua Lu, Yutao Wang*. 2022. Web Spammer and Resource Allocation Efficiency: A Study Based on the Perspective of Large Shareholder Reduction. Naikai Business Review (Chinese Journal). 10: 1-39.

[3]  Ma, Mengdi, Shuo Li, Yutao Wang*. 2022. A Study on Chinese Analyst Reports Validity: Specific Information and Limited Investor Attention. Chinese Journal of Management Science (Chinese Journal). 11: 1-14.  

[4]  Wang, Yutao, Tianyi Dong, Chongluan Lu. 2022. The Impact of Minority Shareholders’ Voice in Social Media on Investment Efficiency. Economic Management Journal (Chinese Journal). 6: 115-132.

[5]  Dong, Tianyi, Yutao Wang, Caihui Sun. 2022. Social Media Attention and Audit Quality—— Based on the perspective of public opinion pressure. Auditing Research  (Chinese Journal). 2: 71-80.

[6]  Wang, Brian Yutao, Ruiyao Xu, Jing Zhang. 2022. Outbreak risk, managerial distraction, and corporate information disclosure: Evidence from the COVID-19 pandemic. Pacific-Basin Finance Journal. 73: 1-17.

[7]  Wang, Brian Yutao, Chongluan Lu, Jing Zhang, Haishan Yu. 2021. Majority Shareholders’ Stock Sales, Dual Agency Conflicts, and Management Earnings Forecasts. Emerging Markets Finance and Trade. 58(7): 1883-1897

[8]  Wang, Brian Yutao, Shuo Li, Guangqiang Liu, Zhiqing Yang. 2021. Running out of Energy: the Price Effect of Energy Deficiency. Energy Economics. 100. 1-9.

[9]  Wang, Brian Yutao, Duan Mengran, Liu Guangqiang. 2021. Does the power gap between a chairman and CEO matter? Evidence from corporate debt financing in China. Pacific-Basin Finance Journal, 65(2021):1-15

[10]  Cheng, Qiang, Du, Fei, Wang, Yutao Brian, and Wang, Xin. 2019. “Do Corporate Site Visits Impact Stock Prices?” Contemporary Accounting Research, 36(1):359-388.

[11]  Duan, Mengran, Wang, Yutao and Wang Ruihua. 2019. External Governance Environment, Cash Dividend and Market Reaction. China Accounting Review (Chinese Journal), 17(1): 49-78

[12]  Wang, Yutao, Duan Mengran. 2019. Does Business Strategy Impact a Firm’s Management Earnings Forecasts? Management Review (Chinese Journal), 31(2): 200-213.

[13]  Wang, Yutao and Song, Yunling. 2018. The Optimistic Bias of Management Earnings Forecast, Analyst Forecasts Revision and Market Reaction. China Accounting Review (Chinese Journal), 16(1): 53-72。

[14]  Wang, Juxian, Wang, Yutao and Lu, Guihua. 2017. Corporate Characteristics, Analysts’ Cash Flow Forecasts and Analysts’ Earnings Forecasts Accuracy. Journal of Central University of Finance & Economics(Chinese Journal), 10:65-77.

[15]  Cheng, Qiang, Du, Fei, Wang, Xin and Wang, Yutao. 2016. “Seeing is Believing: Analysts’ Corporate Site Visits”. Review of Accounting Studies, 21(4): 1245-1286.

[16]  Zhai, Jinbu, Wang, Yutao. 2016. “Accounting Information Quality, Governance Efficiency and Capital Investment Choice”. China Journal of Accounting Research, 9(4): 251-266.

[17]  Wang, Yutao. 2016. “Public Information, Private Information and Financial Analysts’ Forecasts”. China Accounting and Finance Review, (3): 1-57.

[18]  Wang, Juxian, Wang, Yutao and Lu, Guihua. 2016. “Is Analysts’ Cash Flow Forecasts Useful: From the View of Information Supply”. South China Journal of Economics(Chinese Journal), (7): 1-17.

[19]  Wang, Juxian, Wang, Yutao, and Lu, Guihua. 2016. “Can Geographical Distance Affect the Behaviors of Financial Analysts?”, Journal of Central University of Finance & Economics(Chinese Journal), (1): 61-72.

[20]  Wang, Yutao, Chen, Yunsen and Wang, Juxian. 2015. “Management earnings forecasts and analyst forecasts: Evidence from mandatory disclosure system”, China Journal of Accounting Research, (8): 133-146.

[21]  Zhao, Gang, Liang, Shangkun, and Wang, Yutao. 2014. “Accounting conservatism, and bank loan contracts: Evidence from China”. China Journal of Accounting Studies, 2(3): 200-227.

[22]  Chen, Yunsen, Wang, Yutao, and Lin, Le. 2014. “Independent directors’ board networks and controlling shareholders’ tunneling behavior”, China Journal of Accounting Research, (7): 101-118.

[23]  Chen, Xiaolin, Kong, Dongming, and Wang, Yutao. 2014. “Auditor size, earnings management and information asymmetry”, China Accounting and Finance Review, (1): 29-60.

[24]  Liang, Shangkun, Zhao, Gang, and Wang, Yutao. 2013. “Accounting Transparency and Bank Loan Contracts: Evidence from Chinese Listed Companies”, China Accounting Review (Chinese Journal), (4): 457-490.

[25]  Yang, Kaiyuan, Liu, Bin, and Wang, Yutao. 2013. “The accrual anomaly in Capital Market: Misspecification or Mispricing”, Statistical Research(Chinese Journal), (10): 68-74.

[26]  Zong, Wenlong, Wang, Yutao, and Wei, Zi. 2013. “Do Equity Compensation reduce executive turnover? Empirical Evidence from China’s Security Market”. Accounting Research (Chinese Journal), (9): 58-63.

[27]  Chen, Xiaolin, Wang, Yutao and Chen, Yunsen. 2013. “Audit Firm size, industry expertise and probability of informed trading: empirical evidence from Chinese securities market”, Accounting Research (Chinese Journal), (2): 70-79.

[28]  Wang, Yutao, Chen, Xiao, and Xue, Jian. 2013. “Selling Non-tradable share: Income smoothing or investment returns maximization?”. Journal of Financial Research (Chinese Journal), (1): 164-176.

[29]  Wang, Yutao, and Wang, Yanchao. 2012. “Does Earnings Preannouncement Information Impose Effects on the Forecast Behavior of Financial Analysts”, Journal of Financial Research (Chinese Journal), (6): 202-218.

[30]  Zhang, Liqun, Wang, Yutao and Wang, Yanchao. 2012. “Research on taxation loading of listed firms in macro-environment: internal market view”, Taxation Research (Chinese Journal), (7): 26-29.

[31]  Wang, Yutao, Hou, Yu, and Chen, Xiaolin. 2012. “Accounting standard changes and foreign analyst behavior: Evidence from China”, China Journal of Accounting Research, (5): 27-43.

[32]  Zhai, Jinbu, Wang, Yutao, and Li, Dan. 2012. “The Analysis in What Factors Affect Financing Choice in M&A: Transaction Costs view”. China Accounting Review (Chinese Journal), (1): 17-32.

[33]  Zhai, Jinbu, Wang, Yutao, and Li, Dan. 2011. “The Effect of Financing Choice on M&A Performance: From the Perspective of Functional Fixation”. China Industrial Economics (Chinese Journal), (12): 100-110.

[34]  Liu, Yongtao, Zhai, Jinbu, and Wang, Yutao. 2011. “The Adoption of New Accounting Standards on Earnings Management”. Economic Theory and Business Management (Chinese Journal), (11): 55-67.

[35]  Chen, Yunsen, Zhu, Song, Wang, Yutao. 2011. “Corporate Fraud an Bank Loans: Evidence from China”. China Journal of Accounting Research, (4): 155-165.

[36]  Yin, Lifeng, Wang, Yutao, and Deng, Yihong. 2011. “Estimation of Effective Tax Rates of Enterprises After the Unification of Two Sets of Corporate Income Tax Laws”. Taxation Research (Chinese Journal), (9): 18-21.

[37]  Wang, Yutao, Xue, Jian, and Li, Lu. 2010. “Does Fair Value Measurement Model have Value Relevance? Empirical Evidence from Financial Assets Investigation”. China Accounting Review (Chinese Journal), (4): 383-398.

[38]  Wang, Yutao, Chen, Xiao, and Hou, Yu. 2010. “The Local Analysts’ Information Advantage: Geographical Proximity or Difference in Accounting Standards?”. Accounting Research (Chinese Journal), (12): 34-40.

[39]  Chen, Yunsen, Wang, Yutao. 2010. “Audit Quality, Transaction Cost and Mode of Trade Credit”. Audit Research(Chinese Journal), (6): 77-85.

[40]  Hou, Yu, Wang, Yutao. 2010. “Control Right Transfer, Investor Protection and Ownership Concentration: New Empirical Evidence From Control Right Transfer”. Journal of Financial Research (Chinese Journal), (3): 167-182.

[41]  Yu, Peikun, Lee, Chi-Wen Jevons, Wang, Yutao. 2009. “Can Institutional Investors Beat Individual Investors?”. Journal of Financial Research(Chinese Journal), (8): 147-157.

[42]  Wang, Yutao, Xue, Jian, and Chen, Xiao. 2009. “Accounting Choice and Earnings Management: An Analysis on the Implementation of the New Accounting Standard”, China Accounting Review (Chinese Journal), (3): 255-270.

[43]  Wang, Yutao, Xue, Jian, and Chen, Xiao. 2009. “Can the Market Distinguish the Different Information Under the New Accounting Standards?”, Journal of Financial Research(Chinese Journal), (1): 136-150.

Selected Research Grants

[1] Principal Investigator, the National Natural Science Fund: “The Efficiency of Private Information Communication Between Institutional Investors and Enterprises: Visiting Contents, Characteristics and Corporate Behaviors”, 2020-2023, Grant No: 71972179.

[2] Beijing Municipal Natural Science Foundation: “Information Communication between Investors and Companies: the Effect of Q&A about Corporate Innovation”, 2020-2022, Grant No. 9202008.

[3] Principal Investigator, the National Natural Science Fund: “Research on Effects of Information Environment Changes on Behavior and Difference of Local and Foreign Analysts”, 2012-2014, Grant No: 71102124.

[4] Co-Investigator, General Research Fund (GRF): “Seeing is believing: Do analysts benefit from corporate site visits?”, 2013,  Grant No: 760913.

[5] Principal Investigator, the Ministry of Education Funded Projects: “Research on Information Environment Changes, Earnings Management and Investors’ Behaviors”, 2014-2015, Grant No: 13JHQ048.

Selected Presentations at Academic Meetings

[1] 2022.12.04，The Fifth Dragon-Horse Accounting and Finance Symposium. Central University of Finance and Economics, Beijing, China. Present Paper title “In Wine There is Truth: Evidence from Analysts Forecast”.

[2] 2022.07.11-2022-07.12, 2022 MIT Asia Conference in Accounting, Online. Manuscript title “Analysts’ Site Visits and Corporate Innovation”.

[3] 2015.8.8-2015.8.12，American Accounting Association Annual Meeting, Chicago, USA. Paper title: Seeing is Believing: Do Analysts Benefit from Site Visits?

[4] 2014.1.10-2014.1.11, Financial Accounting and Reporting Section Midyear Meeting, American Accounting Association, Houston, USA. Paper title: “Are Investors’ Corporate Site Visits Informative?”

[5] 2013.8.3-2013.8.7, American Accounting Association Annual Meeting, Anaheim, USA. Paper title: “Are Investors’ Corporate Site Visits Informative?”

[6] 2013.7.7-2013.7.9, Research Conference of Chinese Accounting Professors Association of North America(CAPANA), The University of Hong Kong, Hong Kong. Paper title: “Are Investors’ Corporate Site Visits Informative?”. Best Paper Award.

Key community services

1/2023-1/2025 Member of the Securities Litigation Case Evaluation Expert Committee of the China Securities Small and Medium sized Investor Service Center

2009—Present Anonymous reviewer of Financial Research, Accounting Research, Nankai Management Review, Accounting and Finance, Emerging Markets Finance and Trade and other core journals.

2010-2018 Financial data analysis   Course for undergraduate in Tsinghua University

2017   Financial Management   Course for MPAcc in Tsinghua University

2017   Theory and Practice of Advance Auditing   Course for MPAcc in Beijing Jiaotong University

Honors and Awards

The title of "Outstanding Individual in Social Service" from Business School, Renmin University of China in 2022, 2/2023

The title of "Outstanding Individual in Social Service" from Business School, Renmin University of China in 2020, 1/2021

The Second Prize of the Fourth High Level Work Award from Business School, Renmin University of China, 11/2021

the 19th China Empirical Accounting Symposium, the "Outstanding Paper Nomination Award", paper title "The Debate between Goodwill Amortization and Impairment: From the Perspective of Merger and Acquisition Decision Making", 12, 2020

“Outstanding Young Scholar” of Renmin University of China,  08/2018

Best Award for Teaching Contents in MBA, Business School of Central University of Finance and Economics,  01/2018

One of Nationwide Accounting Reserve Leaders in the Seventh Batch Selected by the Ministry of Finance (Academic Talent),  12/2017

2014 Outstanding Paper Award of Accounting Society of China,  07/2015

2013 Outstanding Paper Award of Accounting Society of China,  07/2014

“Best Paper Award” in 2013

CAPANA conference,  07/2013