Cen, Ling(岑岭)

BSc (Zhejiang University); MSc (Warwick); PhD (HKUST)

Associate Professor
Associate Director, Hong Kong-Shenzhen Finance Research Centre
Co-director, MSc Programme in Finance (Full Time)


Department of Finance

Room 1250, 12/F
Cheng Yu Tung Building
12 Chak Cheung Street
Shatin, N.T. Hong Kong

+852 3943 3166



Prof. Ling Cen is an Associate Professor of Finance at The Chinese University of Hong Kong (CUHK). Before joining CUHK, he was an Associate Professor of Finance at the University of Toronto. His early research was mainly on behavioural finance. In his recent work, he conducts interdisciplinary studies of corporate finance and operations management, focusing on the role of supply-chain relationships on various aspects of corporate decisions. He is also interested in the role of buy-side and sell-side analysts in earnings conference calls. His papers have been published in the Journal of Financial Economics, Management Science, The Accounting Review, Journal of Financial and Quantitative Analysis, and Review of Finance.

Teaching Areas

Behavioural Finance
Mergers and Acquisitions
Corporate Finance/Financial Management

Research Interests

Impact of Supply-Chain Relationships on Corporate and Investment Decisions
Information Production and Diffusion in Financial Markets
Roles of Buy-Side and Sell-Side Analysts in Financial Markets

  • Grants
    • “Do Countries Matter for Information Diffusion in Financial Markets: Evidence from Global Supply-Chain”, SSHRC Insight Grant awarded by Social Sciences and Humanities Research Council with CAD 50,404, 2017 (Principal Investigator)
    • “Rationalize the Irrationality: Diffusion of Misvaluation through Economic Links”, SSHRC Insight Grant awarded by Social Sciences and Humanities Research Council with CAD 52,125, 2013 (Principal Investigator)
    • “Litigation Loss Contingency Disclosures and Customer-Supplier Relationships”, SSHRC Insight Grant awarded by Social Sciences and Humanities Research Council with CAD 77,010, 2013 (Co-investigator)
    • “Contagion of Sentiment, Investor Trading Activities, and Financial Crises”, awarded by Governing Board of the Institute of New Economic Thinking (INET) & The Centre for International Governance Innovation (CIGI) with CAD 49,141, 2013 (Co-Investigator)
    • “Disagreement, Underreaction, and Stock Returns”, Hong Kong General Research Fund awarded by Research Grants Council with HKD 318,500, 2012 (Collaborator)
    • SSHRC Institutional Grant (SIG) with CAD 3,000/year, 2011 & 2012 & 2015 (Principal Investigator)
    • The Connaught New Researcher Award by University of Toronto with CAD 10,000, 2011 (Principal Investigator)
  • Awards & Honours
    • Dean’s Merit Award for Research, 2016-2017, UTSc, University of Toronto
    • Nomination of Dean’s Merit Award for Research, 2012-2013 & 2015-2016, UTSc, University of Toronto
    • Canadian Institute of Chartered Business Valuators Award for Best Paper on Business Valuation, The 2010 Northern Finance Association Annual Meetings
  • Academic/Professional Services

    1. Journal Editorial Board

    • Associate Editor, International Review of Finance, 2018 – Present

    2. Journal Referee Service

    • Review of Financial Studies
    • Journal of Financial Economics
    • Management Science
    • Review of Finance
    • Contemporary Accounting Research
    • Journal of Corporate Finance
    • Journal of Empirical Finance
    • Journal of Banking and Finance
    • Journal of Financial Intermediation
    • European Accounting Review
    • International Review of Finance
    • Pacific Basin Finance Journal
    • Canadian Journal of Economics
    • Canadian Journal of Administrative Sciences
    • Journal of Accounting, Auditing and Finance

    3. Conference Organisation/Review Service

    • The Asian Finance Association Annual Meetings, 2012, 2013, 2014, 2015, 2016, 2017, 2018
    • The China International Conference in Finance, 2016, 2018
    • The European Finance Association Annual Meetings, 2015, 2016, 2017, 2018
    • The Northern Finance Association Annual Meetings, 2012, 2013, 2015, 2016
    • The Financial Management Association Annual Meeting, 2017