Shuqing Luo
Prof. Shuqing LUO
Accounting and Law
Associate Professor

3917 1533

KK 1216

Academic & Professional Qualification
  • PhD: University of Pittsburgh 2010
  • Master: Nanyang Technological University 2003
  • July 2018 – now, Associate professor (with tenure) of accounting, The University of Hong Kong
  • Nov 2010 – June 2018, Assistant professor of accounting, National University of Singapore (NUS)
  • Managerial Accounting, NUS                                              2016-2018
  • Corporate Governance and Ethics, NUS                           2014-2015
  • Introduction of Financial Accounting, NUS                       2010-2013
  • Financial Accounting, University of Pittsburgh                2008
Research Interest
  • Industrial Organization And Information Transfer
  • Financial Analysts
  • Financial Reporting And Disclosure
  • Executive Compensation
  • Corporate Governance
Selected Publications
  • The Effect of Analyst-Auditor Connections on Analysts’ Performance, with M. Defond, J. Fang, and C. Lennox, European Accounting Review, forthcoming.
  • Common ownership and analyst forecasts, 2024, with Q. Cheng, and J. Zhang, European Accounting Review 33(1): 223-249.
  • Back to school: How CEO pre-career exposure to religiosity affects firm innovation, 2023, with G. Chen, Y. Tang, J. Tong. Journal of Management 49 (3): 881-912.
  • Short interest and corporate investment: Evidence from supply chain partners, 2022, with Xia Chen, and Guojin Gong. Contemporary Accounting Research 39 (2): 1455-1508.
  • CEO sports hobby and firms’ tax aggressiveness, 2022, with Terry Shevlin, Lirong Shi, and Aimee Shih. Journal of the American Taxation Association 44 (1): 123-153.
  • Lenders’ experience with borrowers’ major customers and the debt contracting demand for accounting conservatism, 2018, with Guojin Gong. The Accounting Review 93 (5): 187-222.
  • Information complementarities and supply chain analysts, 2015, with Nandu J. Nagarajan. The Accounting Review 90 (5): 1995-2029.
  • Making the same mistake all over again: CEO overconfidence and corporate resistance to corrective feedback, 2015, with Guoli Chen, and Craig Crossland. Strategic Management Journal 36 (10): 1513-1535.
  • Passing probation: Earnings management by interim CEOs and its effect on their promotion prospects, 2015, with Guoli Chen, Yi Tang, and Jamie Y. Tong. Academy of Management Journal 58 (5): 1389-1418.
  • CEO turnover, financial distress, and contractual innovations, 2014, with John Harry Evans III, and Nandu J. Nagarajan. The Accounting Review 89 (3): 959-990.
  • Client-auditor supply chain relationships, audit quality, and audit pricing, 2014, with Karla M. Johnstone, and Chan Li. Auditing: A Journal of Practice & Theory 33 (4): 119-166.
  • Why do CFOs become involved in material accounting manipulations?, 2011, with Mei Feng, Weili Ge, and Terry Shevlin. Journal of Accounting and Economics 51 (1-2): 21-36.
Service to the University/Community
  • Editor: Journal of Management Accounting Research 2022 –
  • Committee member for the Notable Contribution to Management Accounting Literature Award for American Accounting Association, 2022
  • Editorial Advisory and Review Board: Journal of Management Accounting Research 2018 – 2021
  • Ad Hoc reviewer for: The Accounting Review, Management Science, Auditing: A Journal of Practice and Theory, Accounting Horizon, Accounting and Finance, Australian Journal of Management; European Journal of Management; Financial Analysts Journal; Journal of Accounting, Auditing and Finance; Journal of Management Accounting Research; Hong Kong Government’s Research Grant Council; AAA annual meetings, CAAA annual meetings, EAA annual meetings, FARs mid-year meetings, AAA managerial accounting mid-year meetings, and AAA mid-year auditing meetings, etc.
  • Discussant for: AAA annual meetings, CAAA annual meetings, EAA annual meetings, FARs mid-year meetings, AAA managerial accounting mid-year meetings, AAA mid-year auditing meetings, Multi-national Finance Society Annual Conference, Singapore Management University Accounting Symposium, etc.
Recent Publications
Common Ownership and Analyst Forecasts

We examine the effect of the common ownership relation between brokerage houses and the firms covered by their analysts (referred to as co-owned brokerage houses, co-owned firms, and connected analysts, respectively) on analyst forecast performance. Common ownership can help the connected analysts have better access to co-owned firms, leading to higher-quality analyst research. However, common owners have incentives for higher valuation of the co-owned firms and thus can exert pressure on the connected analysts to issue optimistically biased research reports for these firms. We find that common ownership improves analyst forecast accuracy. This result is robust to a difference-in-differences design that exploits exogenous shocks to common ownership. The effects vary systematically with the quality of alternative sources of information that analysts can access for the co-owned firms. Overall, our paper contributes to the literature by documenting that common ownership can facilitate information communication.

Back to School: CEOs’ Pre-Career Exposure to Religion, Firm’s Risk-Taking, and Innovation

Recent research has shown that a CEO's personal experiences in his or her early days have an influence on his or her decision-making as an executive later on. Our study extends this emerging stream of research by examining how CEOs’ pre-career exposure to religion affects their firms’ risk-taking and subsequent innovation performance. Drawing upon developmental psychology research and imprinting theory, we argue that CEOs who have attended a religious college are more likely to develop or reinforce their risk-averse mentality. This carries over to their professional life when they are in a top management position, and it leads to less risk-taking behavior in their firms and ultimately a lower level of firm innovation. Using a large sample of U.S. publicly listed companies, we find strong support on our hypotheses: Firms managed by CEOs who attended a religious college tend to be less risk-taking; this effect is stronger when the firm has more board members with pre-career exposure to religion; in addition, the firm's risk-taking behavior mediates the negative relationship between CEO pre-career religious exposure and firm innovation. We discuss the implications of our study for the strategic leadership literature, firm's risk-taking, and innovation research.

Short Interest and Corporate Investment: Evidence from Supply Chain Partners

We investigate whether short interest affects supply chain partners' investments. This investigation is important for understanding the real effect of short sellers in facilitating stakeholders' investment decisions. Prior research suggests that short interest conveys negative news in a timely manner, which predicts future deterioration in firm fundamentals. We predict and find that a supplier's future investments decrease with its major customers' short interest. Consistent with predictions, this result is more pronounced when customers' short interest is more informative about their future performance, when customers have a more opaque information environment, and when suppliers incur lower customer switching costs. The results are robust when we use various approaches to address endogeneity concerns and establish causality. Our findings suggest that short sellers provide valuable information to supply chain partners when making investment decisions.