Zhang, Henry Haorui

Biography

Professor Henry Zhang Haorui is an assistant professor of finance at the CUHK Business School. His research focuses on how financial frictions and liquidity provision affect firms’ real decisions, with an emphasis on credit supply channels and intermediary behavior. He studies the transmission of financial shocks through non-bank credit markets such as factoring with receivables-backed funds, the role of collateral constraints in shaping firms’ investment and hedging under uncertainty, and how financial market design influences firms’ access to liquidity. A common theme across his work is the use of rich microdata to quantify how the cost and structure of financing shape firms’ decisions. He has a particular interest in financial applications to environmental settings, such as carbon credit markets and extreme weather shocks.

Teaching Areas

International Finance

Research Interests

Corporate Finance
Macro-Finance
Financial Intermediation
Environmental Finance