Yun Dai is an Associate Professor of Finance at Lingnan College. She currently serves as the Associate Dean of Lingnan College and Associate Dean of the SYSU Center of Capital Market Research. She obtained her Ph.D. diploma from Erasmus University Rotterdam. Before joining Lingnan, she worked at the University of Groningen and Erasmus University Rotterdam. Her research interests mainly lie in corporate finance, debt issues in China, and experimental and behavioral finance. Her studies have been published (or accepted) by the Journal of Financial and Quantitative Analysis, Management Science, Games and Economic Behavior, Journal of Economic Behavior and Organization, and Journal of Economic Dynamics and Control, as well as in Chinese Journals such as Economic Research Journal (Jing Ji Yan Jiu), Journal of Management World （Guan Li Shi Jie）， Journal of Management Sciences in China (Guan Li Ke Xue Xue Bao).  

Research Areas

Corporate Finance, Debt Issues in China, Experimental and Behavioral Finance

Education

2014 Erasmus University Rotterdam & Tinbergen Institute, Ph.D. in Finance

2010 University van Amsterdam & Tinbergen Institute, M.Phil in Finance (with Cum Laude)

2009 Fudan University, Master in Economics

2006 Fudan University, Bachelor in Economics (Outstanding Graduate of Shanghai)

Professional Experiences

Work Experience

2021-Now, Lingnan (University) College, Associate Professor of Finance

2016-2020, Lingnan (University) College, Assistant Professor of Finance

2014-2016, Erasmus University Rotterdam, Assistant Professor of Finance

2014, University of Groningen, Lecturer of Finance

Ad-Hoc Referee

Journal of Banking and Finance, Journal of Economic Behavior and Organization, Corporate Governance: An International Review, Pacific-Basin Finance Journal, Emerging Markets Review, Asia-Pacific Journal of Financial Studies, China Economic Review, Economic Research Journal (《经济研究》), Management World (《管理世界》), Journal of Management Sciences in China (《管理科学学报》), etc

Selected Publications

Publication in English

Financial Reporting Regulation in the Laboratory: A Case on Earnings Management, with Te Bao and Jiahua Zhu, accepted by Management Science.

Least Squares Learning? Evidence from the Laboratory, with Te Bao and John Duffy, Journal of Economic Dynamics and Control, Vol. 172 (2025), 104980 .

Throwing Good Money after Bad: Zombie Lending and the Supply Chain Contagion of Firm Exit, with Xuchao Li, Dinghua Liu, and Jiankun Lu, Journal of Economic Behavior and Organization, Vol. 189 (2021), 379-402.

• Reported by VoxChina

Less Popular but More Effective Toeholds in Corporate Takeovers, with Sebastian Gryglewicz and Han Smit，Journal of Financial and Quantitative Analysis, Vol. 56, No. 1 (2021), 283-312. 

Memory and Discounting: Theory and Evidence, with Te Bao and Xiaohua Yu, Journal of Economic Dynamics and Control, Volume 88(2018), 21-30.

Similar Bidders in Takeover Contests, with Sebastian Gryglewicz, Han Smit, and Wouter De Maeseneire, Games and Economic Behavior, Volume 82 (2013), 544-561.

Publication in Chinese

A Name-Driven Investment Bias: An Empirical Study Based on Investors' Limited Attention, with Jichuan Zong, and Jiyang Li, Journal of Management Sciences in China, 2020.07, 27-56.

• 慕“名”而来的投资偏误--有限关注视角下的实证检验，与宗计川、李纪阳，《管理科学学报》，2020年第7期，27-56.

Experimental Economics for the Future: Literature Review and Outlook, with Te Bao and Guocheng Wang, Management World, 2020.07, 218-236.

• 面向未来的实验经济学：文献述评与前景展望，与包特、王国成，《管理世界》，2020年第7期，218-236.

How do Zombie Firms Affect Innovation? Evidence from China's Industrial Firms, with Yongqin Wang and Wei Li, Economic Research Journal, 2018.11, 99-114.(Cover article)

• 僵尸企业如何影响了企业创新？来自中国工业企业的证据，与王永钦、李蔚，《经济研究》，2018年第11期，99-114.
• Reported by VoxChina

The Design of Local Government Bonds System under Federalism: Centralized vs. Decentralized Issuance and Optimal Transparency, with Yongqin Wang and Te Bao, Economic Research Journal, 2015.11, 65-78.

• 财政分权下的地方债券设计：不同发行方式与最优信息准确度，与王永钦，包特，《经济研究》，2015年11月刊，65-78.