• Bio
  • Publications & Research
  • Teaching & Supervision
  • Prizes & awards

About Zhaoxia

Dr. Zhaoxia Xu is a Senior Lecturer at the School of Banking and Finance in the UNSW Business School. Her research interests include corporate finance and innovation, with a focus on the real effects of government policies and regulations. Her work was funded by the National Bureau of Economic Research and has been published in leading academic journals including Journal of Financial Economics and Journal of Financial and Quantitative Analysis. She is an Associate Editor of Asia-Pacific Journal of Financial Studies. Dr. Xu previously worked for the New York University and the Bank of Canada. She received her Ph.D. from the University of Toronto.


  • “Financial dependence and innovation: The case of public versus private firms" (with Viral Acharya), Journal of Financial Economics, 124, 223-243
  • “Market Sentiment and Innovation Activities", (with Tri Vi Dang), Journal of Financial and Quantitative Analysis, forthcoming
  • “Product Market Competition and Financial Decisions During a Financial Crisis", (with Soku Byoun), Financial Management, 2016, 45, 267-290
  • “Contracts, Governance, and Country Risk in Project Finance: Theory and Evidence" (with Soku Byoun), Journal of Corporate Finance, 2014, 26, 124-144.
  • “Complex Ownership and Capital Structure", (with Teodora Paligorova), Journal of Corporate Finance, 2012, 18, 701-716.
  • “Why Do Some Firms Go Debt-Free?", (with Soku Byoun) Asia-Pacific Journal of Financial Studies, 2013, 42, 1-38.
  • “Scaling, Self-similarity and Multifractality in Foreign Exchange Markets", (with Ramazan Gencay), Physica A: Statistical Mechanics and its Applications, 2003, 323, 578-590