Skip to main content
University of Delaware - Alfred Lerner College of Business & Economics

Fei Xie

Title Associate Professor of Finance
Office 313 Purnell Hall


Professor Xie joined the University of Delaware in August 2015. Prior to coming to UD, he was the Wells Fargo Professor, associate professor of finance at Clemson University, South Carolina, from August 2012 to July 2015. Previously, he was a tenured professor at George Mason University in Fairfax, VA. He currently teaches an undergraduate-level intermediate financial management course. His research interests are in empirical corporate finance. Within this general field, his work spans corporate governance, mergers and acquisitions, boards of directors, executive compensation, corporate financing, venture capital, behavioral finance and corporate disclosure. His research has appeared in multiple top academic journals and received significant recognition and citations.


  • Ph.D. in finance, Vanderbilt University, 2005
  • B.S. in finance, Tsinghua University, 1998

Select Publications

  • Corporate Governance and Acquirer Returns, with Ronald W. Masulis and Cong Wang, 2007, Journal of Finance 62, 1851-1889.  (No. 2 most-cited article from the Journal of Finance in 2007.)
  • Corporate Governance Transfer and Synergistic Gains from Mergers and Acquisitions, with Cong Wang, 2009, Review of Financial Studies 22, 829-858.
  • Agency Problems at Dual-Class Companies, with Ronald W. Masulis and Cong Wang, 2009, Journal of Finance 64, 1697-2727. (No.9 most cited article from the Journal of Finance in 2009)
  • Do Corporate Venture Capitalists Add Value to Startup Firms? Evidence from IPOs and Acquisitions of Venture-backed Companies, with Vladimir Ivanov, 2010, Financial Management 39, 129-152. (No.1 most cited article from Financial Management in 2010)
  • Do Executive Stock Options Induce Excessive Risk Taking? With Zhiyong Dong and Cong Wang, 2010, Journal of Banking and Finance 34, 2518-2529.
  • Globalizing the Boardroom – The Effects of Foreign Directors on Corporate Governance and Firm Performance, with Ronald Masulis and Cong Wang, 2012, Journal of Accounting and Economics 53, 527-554. (2015 Emerald Citations of Excellence Award (1 of 3 papers chosen from all 2012 JAE issues))
  • When Firms Talk, Do Investors Listen? The Role of Trust in Stock Market Reactions to Corporate Earnings Announcements, with Mikhail Pevzner and Xiangang Xin, 2015, Journal of Financial Economics 117, 190-223. (Part of a special issue on the Causes and Consequences of Corporate Culture)
  • Industry Expertise of Independent Directors and Board Monitoring, with Cong Wang and Min Zhu, 2015, Journal of Financial and Quantitative Analysis 50, 929-962. (Featured in CFA Digest, September 2016, Volume 46, Issue 9)
  • Are All Analysts Created Equal? Industry Expertise and Monitoring Effectiveness of Financial Analysts, with Daniel Bradley, Sinan Gokkaya, and Xi Liu, 2017, Journal of Accounting and Economics 63, 179-206.  (Featured in the Wall Street Journal, June 5, 2017, “It Takes One to Know One: Analysts With Experience Might Be Better Watchdogs”)
  • CEO Inside Debt and Accounting Conservatism, with Cong Wang and Xiangang Xin, 2017, Contemporary Accounting Research forthcoming.


Visit Fei Xie’s Personal Webpage