CURRICULUM VITAE HAI LU (December 2011)

CURRICULUM VITAE
HAI LU
(December 2011)
Rotman School of Management
University of Toronto
105 St. George Street Tel: 416 946 0677
Toronto, ON M5S 3E6, Canada E-mail: hai.lu@rotman.utoronto.ca
Academic Employment
Associate Professor with tenure (July 2011 – present) and Assistant Professor (July 2004 – June 2011),
Rotman School of Management, University of Toronto.
Education
Ph.D. in Business Administration, University of Southern California.
MBA, University of Kansas.
Ph.D. in Optoelectronics, Chinese Academy of Sciences (Dissertation completed at CSIRO Division of
Applied Physics, National Measurement Laboratory, Australia)
B.S. in Thermal Physics and Engineering, Zhejiang University Medal (16 Finalist, University’s
highest honor), Zhejiang University, China.
Publications in Business
1. Accounting Quality, Stock Price Delay, and Future Stock Returns (with Jeffrey Callen and Mozaffar
Khan), Contemporary Accounting Research, forthcoming, 2011.
2. The Agency Problem, Corporate Governance, and the Asymmetrical Behavior of Selling, General,
and Administrative Costs (with Clara Chen and Theodore Sougiannis), Contemporary Accounting
Research, forthcoming, 2011.
3. Conflict-of-interest Reforms and Analysts’ Research Biases (with Franco Wong and Yuyan Guan),
Journal of Accounting, Auditing, and Finance, forthcoming, 2010.
4. Direct and Indirect Effects of Internal Control Weakness and External Audit Effort on Accruals
Quality: Evidence from a Unique Canadian Regulatory Setting (with Gordon Richardson and Steve
Salterio), Contemporary Accounting Research 28 (2), 675-707, 2011.
5. Brokerage Industry Self-regulation: The Case of Analysts’ Background Disclosures (with Lawrence
Brown and Artur Hugon), Contemporary Accounting Research 27 (4), 1025-1062, 2010.
6. Wealth Transfer Effects of Analysts’ Misleading Behavior (with Gus De Franco and Florin
Vasvari), Journal of Accounting Research 45 (1), 71-110, 2007.
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o Reprinted in Volume 1 of Financial Accounting and Investment Management Edited by
Werner De Bondt, in THE INTERNATIONAL LIBRARY OF CRITICAL WRITING IN
FINANCIAL ECONOMICS Series, Ed. Richard Roll, Edward Elgar, Northampton, 2009.
7. The Framing and Evaluation of Multiple Hypotheses (with Ted Mock, Arnie Wright, and Raj
Srivastava), Asian-Pacific Journal of Accounting and Economics 15, 123-140, 2008.
8. A Cost Variance Investigation Using Belief Functions (with Thomas Lin and Daniel O’Leary), in
Applications of Management Science, 12. Eds. Kenneth Lawrence and Ronald Klimberg. Elsevier,
Oxford, 2006.
9. Structural Analysis of Audit Evidence Using Belief Functions (with Raj Srivastava), Fuzzy Set and
Systems 131, 107-120, 2002.
10. Virtual Auditing Agents: The Edgar Agent Challenge (with Alex Kogan, Kay Nelson, Raj
Srivastava, and Miklos Vasarhelyi), Decision Support Systems 28, 241-253, 2000.
o The project was funded by Ernst &Young LLP and the technology developed later was
licensed to AdvanSoft International, Inc.
Working Papers
1. Investor Sentiment, Disagreement, and Return Predictability of Ownership Breadth (with Ling Cen
and Liyan Yang), revise and resubmit (third round) at Management Science.
2. Do Short Sellers Front-run Large Insider Sales? (with Mozaffar Khan), revise and resubmit at The
Accounting Review.
3. Rational Information Leakage (with Raffi Indjejikian and Liyan Yang), revise and resubmit at
Management Science.
4. Price Shocks, News Disclosures, and Asymmetric Drifts (with Kevin Wang and Xiaolu Wang).
5. CEO’s Stock Option Timing Behaviors: New Evidence from Post-SOX and Post-Backdating-
Scandal Era (with Wenli Huang).
6. Is Sin always Sin? The Interaction Effect of Social Norms and Financial Performance on Market
Participants’ Behavior (with Yanju Liu and Kevin Veenstra).
7. Regulations and Brain Drain: Evidence from the Wall Street Star Analysts’ Career Choices (with
Franco Wong and Yuyan Guan).
8. Do Investors Delay Their Responses? An Investigation of Interdependence of the Information
Content of Earnings Announcements and SEC Filings.
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Research Grants
AIC Institute for Corporate Citizenship (2010-2011), Principal Investigator, $9,800.
Social Sciences and Humanities Research Council (2008-2011), Principal Investigator, $97,800,
CA-Queen’s Centre for Governance (2007-2008), Co-investigator, $10,000.
CMA/CAAA Research Award (2007-2008), Principal Investigator, $8,000.
Connaught Research Grant (2005-2007), Principal Investigator, $22,500.
Connaught Start-up Research Grant (2004), Principal Investigator, $10,000.
Teaching Experience
Co-instructor, Ph.D. Pre-seminar of Accounting Workshop Series, 2005-2007.
Guest Lecturer, Ph.D. Seminars of University of Toronto, 2008, 2009.
PhD seminar “Market Participants (Analysts, Managers, and Investors) and Regulations”, Peking
University, 2011.
Instructor and Course Coordinator, Management Accounting and Decision Making (Undergraduate core)
University of Toronto, 2005 – 2010.
Instructor, Core Concepts of Managerial Accounting (Undergraduate Core), USC, 2002.
Teaching Assistant, Core Concepts of Financial Accounting, USC, 2001.
Professional Service
Editorial Board Member:
Contemporary Accounting Research, 2010-2014.
Referee:
The Accounting Review
Contemporary Accounting Research
Review of Accounting Studies
Journal of Accounting, Auditing and Finance
Journal of Business Finance and Accounting
Behavioral Research in Accounting
International Journal of Accounting
The Financial Review
American Accounting Association Financial Accounting Mid-year Conference
American Accounting Association Annual Conference
Canadian Academic Accounting Association Annual Conference
Social Sciences and Humanities Research Council Standard Grant Program
Others:
CMA Ontario Fair Exam Panel member, 2011.
Screening Judge of Entrepreneurship Competition of the 2011 National Business and Technology
Conference.
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School Service
Course Coordinator, Management Accounting, University of Toronto, 2006-2011.
Co-organizer, University of Toronto Accounting Research Workshop Series, 2007-2011.
Rotman Commerce Undergraduate Committee Member, University of Toronto, 2006 –2011.
Accounting Area Recruiting Committee Member, University of Toronto, 2006-2010.
Accounting Stream Curriculum Committee Member, 2007-2008.
Ph.D. Dissertation Committee Member, Stephannie Larocque (Placement: Notre Dame, 2009), Yanju Liu
(on-going), Kevin Veenstra (on-going).
Ph.D. Defense Committee Member, Yuyan Guan (City University of Hong Kong, 2006), Yibin Zhou (UT
Dallas, 2006), Xinghua Liang (McMaster, 2007), Surjit Tinaikar (Florida, 2007), Gauri Bhat (Washington
U, 2008), Xiaohua Fang (Georgia State, 2010), Alastair Lawrence (UC Berkeley, 2011).
University of Toronto Excellence Award for Undergraduate Recipient Faculty Advisor (Kathy Qin, 2007,
now at Harvard MBA program).
Honors and Awards
Best Paper Award, 31 st Annual Congress of European Accounting Association (Financial Accounting),
Netherlands, 2008.
Excellence in Teaching Award, Rotman School of Management, University of Toronto, 2005, 2006,
2008-2010.
SEC and Financial Reporting Institute Fellowship, 2003-2004.
Fellowship, Marshall School of Business, USC, 1999-2003.
Best Paper Award, 32nd Hawaii International Conference on System Sciences, 1999.
Media Citations
Featured in the Wall Street Journal on July 22 nd and September 30 th , 2008.
Interviewed and featured in the cover story article of Investment Dealer Digest, March 5, 2007.
Quantitative Strategy of Citigroup
Dow Jones NewsPlus
NASDAQ.com
Morningstar.com
Portfolio.com
Seekingalpha.com
CompensationStandards.com
The Globe and Mail (Canada)
Advisor.ca (Canada).
Invited Presentations
Public Speech: “Do Short Sellers Front-run Insider Sales?” The IIROC-DeGroote Luncheon Lecture
Series organized by the Investment Industry Regulatory Organization of Canada (IIROC) and McMaster
University, King Edward Hotel, Toronto, October, 2008.
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Workshop Presentations: University of Auckland, BlackRock Inc. (Equity Research Group), Boston
University, University of Canterbury, Carnegie Mellon University, Chinese University of Hong Kong,
City University of Hong Kong, Duke University, George Mason University, McGill University, MIT,
University of Houston, University of Illinois at Urbana-Champaign, Peking University, University of
Southern California, University of Toronto, Wilfred Laurier University, University of Wisconsin.
Conference Presentations:
AAA Financial Accounting Section (FARS) Conference, 2008, 2007, 2005.
American Accounting Association Annual Conference, 2008, 2011.
Canadian Academic Accounting Association Annual Conference, 2007, 2011.
China International Conference in Finance, 2011.
European Accounting Association Annual Conference, 2008, 2011.
European Finance Association Annual Conference, 2009.
Northern Finance Association Annual Conference, 2008.
Second Toronto Accounting Research Conference, 2008.
USC Alumni Research Symposium, 2008.
30 th Anniversary Conference of the Journal of Banking and Finance, 2006.
Conference Discussions:
China International Conference in Finance, 2011.
o Discussion of “Access to Equity Markets, Corporate Investments and Stock Returns” by Sheridan
Titman, John Wei, and Feixue Xie.
CAAA Annual Conference, 2011.
o Discussion of “Book-to-Market Decomposition and the Accrual Anomaly” by Xiaoquan Jiang
and Yunhao Chen.
AAA Annual Conference, 2010.
o Discussion of “Accrual Reversals, Earnings and Stock Returns” by Eric Allen, Chad Larson, and
Richard Sloan.
China International Conference in Finance, 2010.
o Discussion of “Unusual News Events and the Cross-Section of Stock Returns” by Turan Bali,
Anna Scherbina and Yi Tang.
20 th Financial Economics and Accounting Conference, 2009.
o Discussion of “The Relative Profitability of Analysts’ Stock Recommendations: What Role Does
Investor Sentiment Play?” by Mark Bagnoli, Michael Clement, Michael Crawley, and Susan
Watts.
CAAA Annual Conference, 2009.
o Discussion of “The Choice of Joint-Auditors and Earnings Quality: Evidence from French Listed
Companies” by Sophie Marmousez.
Asian Finance Association International Conference, 2008.
o Discussion of “Private Contracting and Corporate Governance: Evidence from the Provision of
Tag-Along Rights in an Emerging Market” by Morten Bennedsen, Kasper Nielsen, Thomas
Nielsen.
7 th London Business School Accounting Symposium, 2007.
o Discussion of “Investor Recognition and Stock Returns” by Reuven Lehavy and Richard Sloan.
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CAAA Annual Conference, 2007.
o Discussion of “The Adoption of Deferred Share Unit Plans for Outside Directors: Economic and
Social Determinants” by Paul Andre, Shamer Khalil, and Michel Magnan.
AAA Annual Conference, 2007.
o Discussion of “Overreaction to Intra-Industry Information Transfer” by Jake Thomas and Frank
Zhang
o Discussion of “Information Externalities in Capital Markets: The Economic Determinants of
Suppliers’ Stock Price Reaction to Their Major Customers’ Information Events” by Shail Pandit,
Charles Wasley, and Tzachi Zach.
o Discussion of “The Time Pattern of Earnings Information Arrival at the Market” by Myojung
Cho.
15 th Financial Economics and Accounting Conference, 2004.
o Discussion of “Do Investors Overvalue Firms with Bloated Balance Sheets” by David Hirshleifer,
Kewei Hou, Shew Hong Teoh, Yinglei Zhang.
o Discussion of “What Are Stock Investors’ Actual Historical Returns” by Ilia Dichev.
Invited Conferences
Tel Aviv University Accounting Conference, 2010.
London Business School Accounting Symposium, 2009.
University of Minnesota Empirical Accounting Conference, 2009.
Contemporary Accounting Research Conference, 2004-2010.
University of Notre Dame CARE Conference, 2006-2008, 2010, 2011.
Professional Affiliation
Member of American Accounting Association, American Finance Association, Canadian Academic
Accounting Association.
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