Rate My Professor Fan Yu

Dr. Fan Yu is a Senior Lecturer in the Department of Applied Finance at Macquarie University in the Faculty of Business and Economics. She is affiliated with the FinTech and Banking Research Centre and the Applied AI Research Centre. Fan Yu earned her Ph.D. in Finance from the University of Washington, Seattle, USA. Prior to her current position, she served as an Assistant Professor at Fudan University. Her research interests focus on empirical corporate finance, covering topics such as peer effects in corporate financing policies driven by idiosyncratic equity and technology shocks, dividend premiums, the influence of interest rates and external growth opportunities on firms’ financing policies, managerial risk incentives, institutional monitoring and the free cash flow hypothesis, and governance of cyber security.

Fan Yu has published extensively in leading academic journals. Prominent works include “Do idiosyncratic technology shocks induce peer effects?” with S. Karpavičius in the Journal of Corporate Finance (2022); “Grabbing or compensating? Evidence from private investment in public equity in China” with Y. Zhu and J. Xu in Accounting & Finance (2025); “Dividend premium: Are dividend-paying stocks worth more?” with S. Karpavičius in the International Review of Financial Analysis (2018); “The impact of interest rates on firms’ financing policies” with S. Karpavičius in the Journal of Corporate Finance (2017); “Managerial risk incentives and a firm’s financing policy” with S. Karpavičius in the Journal of Banking & Finance (2019); “External growth opportunities and a firm’s financing policy” with S. Karpavičius in the International Review of Economics & Finance (2019); “How institutional monitoring creates value: Evidence for the free cash flow hypothesis” with S. Karpavičius in the International Review of Economics & Finance (2017); and “Governance of cyber security: State of play” with V. McGrath and E. Sheedy (Macquarie University report, 2022). Her scholarship has accumulated over 260 citations. Fan Yu received a prize in 2013 for “Monitoring, Contractual Incentive Pay, and the Structure of CEO Equity-Based Compensation.” She contributes to the field through peer review for journals such as Accounting and Finance and Journal of Empirical Finance, membership on the programme committee of the Financial Markets and Corporate Governance Conference since 2021, conference organization, and 15 invited talks.