Dr Elizabeth Yushu Zhu is a Senior Lecturer in UQ Business School She obtained her PhD from Australian National University in 2010. Elizabeth's research investigates empirical finance topics in corporate finance & governance, entrepreneurial finance (including crowdfunding), and banking. Her publications have appeared in various high-rated academic journals such as Journal of Corporate Finance, Abacus, Accounting & Finance, Australian Journal of Management, China Economic Review, and Pacific-Basin Finance Journal. She has supervised PhD students who are engaged in various research in the field of finance, including asset pricing, corporate finance, climate finance, among others.
Journal Article: Algorithmic trading and block ownership initiation: an information perspective
Zheng, Jiayi and Zhu, Yushu (2023). Algorithmic trading and block ownership initiation: an information perspective. The British Accounting Review, 55 (4) 101146, 101146. doi: 10.1016/j.bar.2022.101146
Journal Article: Staged subsidies and corporate investments: evidence from Chinese listed firms
Deng, Kebin, Ding, Zhong, Liao, Xiaojie and Zhu, Yushu (2021). Staged subsidies and corporate investments: evidence from Chinese listed firms. Pacific Basin Finance Journal, 68 101620, 101620. doi: 10.1016/j.pacfin.2021.101620
Journal Article: Chair–CEO trust and firm performance
Zheng, Jiayi and Zhu, Yushu (2021). Chair–CEO trust and firm performance. Australian Journal of Management, 47 (1), 1-36. doi: 10.1177/0312896220981109
The real effects of debt covenant violations: Evidence from a financial crisis
(2016–2017) Accounting and Finance Association of Australia and New Zealand
UQ Advancing Women Researchers Grant 2015 Round 1 - Dr Yushu Zhu
(2015–2016) UQ Advancing Women Researchers Grants
Disclosure of debt covenant violations: the probability of informed trading
(2013–2014) Accounting and Finance Association of Australia and New Zealand
Three Essays in Corporate Finance
(2022) Doctor Philosophy
The role of retail investors in the Chinese capital markets
Doctor Philosophy
Carbon pricing: an important signal and tool in environmental finance
(2020) Doctor Philosophy
Pitching DEA against SFA in the context of Chinese domestic versus foreign banks
Avkiran, Necmi Kemal and Zhu, Yushu (Elizabeth) (2016). Pitching DEA against SFA in the context of Chinese domestic versus foreign banks. Handbook of operations analytics using data envelopment analysis. (pp. 113-143) edited by Shiuh-Nan Hwang, Hsuan-Shih Lee and Joe Zhu. New York, NY, United States: Springer Science+Business Media. doi: 10.1007/978-1-4899-7705-2_5
Algorithmic trading and block ownership initiation: an information perspective
Zheng, Jiayi and Zhu, Yushu (2023). Algorithmic trading and block ownership initiation: an information perspective. The British Accounting Review, 55 (4) 101146, 101146. doi: 10.1016/j.bar.2022.101146
Staged subsidies and corporate investments: evidence from Chinese listed firms
Deng, Kebin, Ding, Zhong, Liao, Xiaojie and Zhu, Yushu (2021). Staged subsidies and corporate investments: evidence from Chinese listed firms. Pacific Basin Finance Journal, 68 101620, 101620. doi: 10.1016/j.pacfin.2021.101620
Chair–CEO trust and firm performance
Zheng, Jiayi and Zhu, Yushu (2021). Chair–CEO trust and firm performance. Australian Journal of Management, 47 (1), 1-36. doi: 10.1177/0312896220981109
Li, Yaoqin , Xu, Xixiong , Zhu, Yushu and Haq, Mamiza (2021). CEO decision horizon and corporate R&D investments: an explanation based on managerial myopia and risk aversion . Accounting and Finance, 61 (4), 5141-5175. doi: 10.1111/acfi.12752
Tax and leverage: evidence from China
Deng, Kebin, Zhu, Yushu, Smith, Tom and McCrystal, Alan (2020). Tax and leverage: evidence from China. China Economic Review, 62 101479, 101479. doi: 10.1016/j.chieco.2020.101479
What does the CAPM say about operating leverage?
Linnenluecke, Martina K., Smith, Tom, Shen, Yun, Zhu, Yushu and Liang, Zini (2020). What does the CAPM say about operating leverage?. Abacus, 56 (2), 288-291. doi: 10.1111/abac.12198
Political connection, market frictions and financial constraints: evidence from China
Deng, Kevin, Zeng, Haijian and Zhu, Yushu (2019). Political connection, market frictions and financial constraints: evidence from China. Accounting and Finance, 59 (4), 2377-2414. doi: 10.1111/acfi.12301
Short-selling constraints and corporate payout policy
Chen, Hang, Zhu, Yushu and Chang, Liang (2019). Short-selling constraints and corporate payout policy. Accounting and Finance, 59 (4), 2273-2305. doi: 10.1111/acfi.12314
The power of crowds: grand challenges in the Asia-Pacific region
Cai, Cynthia Weiyi, Gippel, Jennifer, Zhu, Yushu and Singh, Abhay Kumar (2019). The power of crowds: grand challenges in the Asia-Pacific region. Australian Journal of Management, 44 (4), 031289621987197-570. doi: 10.1177/0312896219871979
Research in finance: a review of influential publications and a research agenda
Linnenluecke, Martina K., Chen, Xiaoyan, Ling, Xin, Smith, Tom and Zhu, Yushu (2017). Research in finance: a review of influential publications and a research agenda. Pacific-Basin Finance Journal, 43, 188-199. doi: 10.1016/j.pacfin.2017.04.005
Deviation from target capital structure, cost of equity and speed of adjustment
Zhou, Qing, Tan, Kelvin Jui Keng, Faff, Robert and Zhu, Yushu (2016). Deviation from target capital structure, cost of equity and speed of adjustment. Journal of Corporate Finance, 39, 99-120. doi: 10.1016/j.jcorpfin.2016.06.002
Call it good, bad or no news? The valuation effect of debt issues
Zhu, Yushu (2016). Call it good, bad or no news? The valuation effect of debt issues. Accounting and Finance, 57 (4), 1203-1229. doi: 10.1111/acfi.12205
Linnenluecke, Martina K., Chen, Xiaoyan, Ling, Xin, Smith, Tom and Zhu, Yushu (2016). Emerging trends in Asia-Pacific finance research: a review of recent influential publications and a research agenda. Pacific-Basin Finance Journal, 36 (2), 66-76. doi: 10.1016/j.pacfin.2015.12.002
Can foreign banks compete in China?
Avkiran, Necmi K., Zhu, Yushu, Tripe, David W. L. and Walsh, Kathleen (2015). Can foreign banks compete in China?. Accounting and Finance, 57 (4), 961-980. doi: 10.1111/acfi.12188
Endogeneity in accounting and finance research: natural experiments as a state-of-the-art solution
Gippel, Jennifer, Smith, Tom and Zhu, Yushu (2015). Endogeneity in accounting and finance research: natural experiments as a state-of-the-art solution. Abacus, 51 (2), 143-168. doi: 10.1111/abac.12048
Informed trading on debt covenant violations: The long and short of it
Zhu, Yushu and Gippel, Jennifer (2015). Informed trading on debt covenant violations: The long and short of it. Accounting and Finance, 57 (1), 289-315. doi: 10.1111/acfi.12126
Investment-cash flow sensitivity measures investment thirst, but not financial constraint
Deng, Kebin, Ding, Zhong, Zhu, Yushu and Zhou, Qing (2015). Investment-cash flow sensitivity measures investment thirst, but not financial constraint. Accounting and Finance, 57 (1), 165-197. doi: 10.1111/acfi.12133
Zhu, Yushu (2012). Erratum to Capital structure: The case of firms issuing debt (Australian Journal of Management, (2012), 37, 2 (283-295), 10.1177/0312896211429159). Australian Journal of Management, 37 (3), 543-543. doi: 10.1177/0312896212463296
Capital structure: the case of firms issuing debt
Zhu, Yushu (2012). Capital structure: the case of firms issuing debt. Australian Journal of Management, 37 (2), 283-295. doi: 10.1177/0312896211429159
Determinants of long-term debt issuing decisions: An alternative approach
Zhu, Yushu (2012). Determinants of long-term debt issuing decisions: An alternative approach. Australian Journal of Management, 38 (2), 429-439. doi: 10.1177/0312896212461640
The real effects of debt covenant violations: Evidence from a financial crisis
(2016–2017) Accounting and Finance Association of Australia and New Zealand
UQ Advancing Women Researchers Grant 2015 Round 1 - Dr Yushu Zhu
(2015–2016) UQ Advancing Women Researchers Grants
Disclosure of debt covenant violations: the probability of informed trading
(2013–2014) Accounting and Finance Association of Australia and New Zealand
A Series of Empirical Studies: Impacts of Debt Covenant Violations
(2012–2013) UQ New Staff Research Start-Up Fund
The role of retail investors in the Chinese capital markets
Doctor Philosophy — Principal Advisor
Other advisors:
Three Essays in Corporate Finance
(2022) Doctor Philosophy — Principal Advisor
Carbon pricing: an important signal and tool in environmental finance
(2020) Doctor Philosophy — Associate Advisor
ESSAYS ON EMPIRICAL ASSET PRICING
(2017) Doctor Philosophy — Associate Advisor
Changing the Way We Measure Time to More Accurately Estimate the Probability of Informed Trading
(2016) Doctor Philosophy — Associate Advisor
Essays on Corporate Dividend Policy: Chinese Evidence
(2015) Doctor Philosophy — Associate Advisor
State Price Density Analysis of Equity Market Volatility: Tools for Fund Managers
(2014) Doctor Philosophy — Associate Advisor