Dr. Emma Sujiao ZHAO
金融学
Research Assistant Professor
KK 402
Academic & Professional Qualification
- Ph.D. in Finance, Université Grenoble Alpes, 2014, with Highest Distinction.
Biography
Dr. Zhao joined The University of Hong Kong (HKU) at the HKU Business School in 2025, where her research focuses on household finance, financial contracting, and empirical banking, with a special emphasis on climate-related risks and the role of financial institutions in the green transition.
Previously, she served as a Research Economist in the Economics and Research Department of Banco de Portugal, where she contributed to policy-relevant research in these areas. Dr. Zhao continue to collaborate with central banking institutions and academic networks across Europe.
Teaching
- Corporate Finance
- Derivatives
Research Interest
- Household Finance
- Empirical Banking
- Financial Contracting
- Climate Change-Related Risks on Banks
Selected Publications
- “Dissecting Bubble Detection and Contagion: A Segmented Analysis of the Real Estate, Credit, and Stock Markets” (with Santos, Daniel V. and Rocha, Manuel Duarte), Journal of Real Estate Finance and Economics, forthcoming.
- “Fiscal Policy and Credit Supply in a Crisis” (with Bonfim, Diana; Ferreira, Miguel and Queir, Franciscoó), American Economic Review, 2025, 115 (6), 1896-1935.
- “Household Borrowing and Monetary Policy Transmission: Post-Pandemic Insights from Nine European Credit Registers” (with De Jonghe, Olivier; Benkovskis, Konstantins; Bielskis, Karolis; Bonfim, Diana; Bottero, Margherita; Briglevics, Tamás; Cesnak, Martin; Dirma, Mantas; Emiris, Marina; Filep-Mosberger, Pálma; Jouvanceau, Valentin; Kaiser, Nicholas; Khametshin, Dmitry; Lalinsky, Tibor; Grolmusz, Viola M.; Moretti, Laura; Nikitins, Arturs Janis; Nunnari, Angelo; Rodriguez-Moreno, Maria; Stefanova, Elitsa; Szabó, Lajos Tamás and Vilerts, Karlis), International Journal of Central Banking, Forthcoming.
- “Suppliers as financial intermediaries: Trade credit for undervalued firms” (with Fontaine, Patrice), Journal of Banking & Finance, 2021, 124, 1-19.
- “Undervaluation and non-financial information: Evidence from voluntary disclosure of CSR news” (with Benlemlih, Mohammed and Ge, Jingwen), Journal of Business Finance & Accounting, 2021, 48, 785-814.
Awards and Honours
- Eiffel Excellence Scholarship, French Ministry of Foreign affairs (2010)
- Semi-finalist for Best PhD Thesis in Corporate Finance by the French Finance Association (2015)