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Ontario Tech acknowledges the lands and people of the Mississaugas of Scugog Island First Nation.

We are thankful to be welcome on these lands in friendship. The lands we are situated on are covered by the Williams Treaties and are the traditional territory of the Mississaugas, a branch of the greater Anishinaabeg Nation, including Algonquin, Ojibway, Odawa and Pottawatomi. These lands remain home to many Indigenous nations and peoples.

We acknowledge this land out of respect for the Indigenous nations who have cared for Turtle Island, also called North America, from before the arrival of settler peoples until this day. Most importantly, we acknowledge that the history of these lands has been tainted by poor treatment and a lack of friendship with the First Nations who call them home.

This history is something we are all affected by because we are all treaty people in Canada. We all have a shared history to reflect on, and each of us is affected by this history in different ways. Our past defines our present, but if we move forward as friends and allies, then it does not have to define our future.

Learn more about Indigenous Education and Cultural Services


Hui Zhu

Associate Professor


Faculty of Business and Information Technology

Contact information

Business and Information Technology Building - Room 3036
North Oshawa
2000 Simcoe Street North
Oshawa, ON L1G 0C5

905.721.8668 ext. 5535

Research topics

  • fixed-income securities
  • initial public offerings (IPOs)
  • corporate innovation
  • corporate social responsibility
  • international finance


Dr. Hui Zhu earned her PhD in Economics from Queen’s University in 2010. Before joining Ontario Tech University, Dr. Zhu was an Assistant Professor at Cape Breton University in Sydney, Nova Scotia and also worked as a Postdoctoral Fellow in Finance at University of Calgary, Alberta.


  • Doctor of Philosophy (PhD) Queen's University, Kingston, Ontario
  • Master of Arts (MA) University of Victoria, British Columbia
  • Bachelor of Science North China Electric Power University, China

Courses taught

  • Derivitive Securities
  • Equity Asset Analysis​
  • International Finance 
  • Corporate Finance                                        
  • Intermediate Finance   

Research and expertise

  • fixed-income securities
  • initial public offerings (IPOs)
  • corporate Innovation and social responsibility
  • international finance
  • 2018-2020. Principal Investigator. Social Sciences and Humanities Research Council of Canada (SSHRC) – Insight Development Grant ($54,182)
  • Won Best Paper Awards for the 7th European Business Research Conference in Rome, Italy (with Bin Chang)
  • Social Sciences and Humanities Research Council (SSHRC) Small Partnership Grant ($13,912)
  • Faculty of Business and Information Technology Summer Research Support ($1,000)
  • SSHRC Small Research Grant ($4,796)
  • Research Policy Grant, Cape Breton University ($16,000)

Editorial positions for scholarly journals

  • (2015-2019) Associate Editor, Journal of Asia Business Studies


  • Selected refereed journal articles

    Does National CUlture affect COrporate Innovation? International Evidence (with Narjess Boubakri, Imed Chkir and Samir Saadi), Journal of Corporate Finance 66, (2021): 101847

    Institutional Influence on Syndicate Structure and Cross-boarder Leveraged Buyouts (with Chen Liu, Lynnette Purda) 50(1), Financial Management (2021):169-202

    Customer-Supplier Relationships and the Cost of Debt (with Kelly Cai), Journal of Banking and Finance 110, (2020): 105686

    Does Going Public in the U.S. Facilitate Corporate Innovation of Foreign Firms (with Kelly Cai), North American Journal of Economics and Finance 52, (2020):101107

    Competitive Earnings News and Post-earnings Announcement Drift (with H. Kent Baker, Yang Ni, and Samir Saadi), International Review of Financial Analysis 63, (2019):331-343.

    How Does Culture Influence IPO Underpricing (with Lamia Chourou and Samir Saadi), Pacific-Basin Finance Journal 51, (2018):318-341.

    Corporate Innovation and Economic Freedom: Cross-country Comparisons (with Steven Xuanrui Zhu), Quarterly Review of Economics and Finance 63, (2017):50-65.

    The Short- and Long-term Market Reaction to Yankee and Rule 144A Bond Offerings (Kelly Cai), Journal of Multinational Financial Management 34, (2016):1-17. (Lead Article)

    Cultural Distance and Foreign IPO Underpricing Variations (with Kelly Cai), Journal of Multinational Financial Management 29, (2015):99-114.

    Cultural Distance and Bond Pricing: Evidence in the Yankee and Rule 144a Bond markets (with Kelly Cai), Journal of Financial Research 37(3), (2014):357-384.

    Implications of Limited Investor Attention to Customer-Supplier Information Transfers, Quarterly Review of Economics and Finance 54(3), (2014):405-416.

    Dependence Patterns across Gulf Arab Stock Markets: A Copula Approach (with Syed Basher and Salem Nechi), Journal of Multinational Financial Management 25-26, (2014):30-35.

    Testing Financial Contagion Based on a Nonparametric Measure of the Cross-Market Correlation (with Fuchun Li), Review of Financial Economics 23(3), (2014):141-147.

    How Does Market Value Earnings Smoothing under Uncertainty (with Minhua Yang), Applied Financial Economics 24(20), (2014):1335-1345.

    Testing the Value of Lead Information in Forecasting Monthly Changes in Employment from the Bureau of Labor Statistics (with Allan Gregory), Applied Financial Economics 24(7), (2014):505-514.

    The Economics of Hydro and Wind Power in a Carbon Constrained World (with G. Cornelis Van Kooten and Amy Sopinka), The IABS 2010 Conference Proceedings.

    The Potential for Wind Energy Meeting Electricity Needs on Vancouver Island (with Ryan Prescott and G. Cornelis van Kooten), Energy and Environment 18(6), (2007):723-746.

  • Selected refereed book chapters

    John, Kose, Samir Saadi, and Hui Zhu. 2014. Liquidity Risk, in H. Kent Baker and Greg Filbeck, eds., Investment Risk Management (pp. 141-154), Oxford University Press.

  • Presentations

    Dr. Zhu’s research has been presented at:

    • Southweastern Finance Association annual converence, US, 2022
    • Southern Finance Association annual conference, US, 2020
    • Multinational Finance Society annual conference, Isreal, 2019
    • Multinational Finance Society annual conference, Hungary, 2018
    • Midwest Finance Association annual conference, US, 2018
    • International Conference on Innovation Studies in Tsinghua University, China, 2017
    • The 8th International Research Meeting in Business and Management, France, 2017
    • Midwest Financial Association Annual Conference, U.S., 2014, 2017
    • The 7th European Business Research Conference, France, 2016
    • Northern Financial Association Annual Conference, Canada, 2016
    • Paris Financial Management Conference, France, 2016
    • London Conference for the Journal of International Business Studies Special Issue on the Role of Financial and Legal Institutions in International Corporate Governance, U.K., 2016
    • Financial Management Association Annual Conference, U.S., 2012, 2014, 2015
    • 8th Annual Conference of the Academy of Innovation and Entrepreneurship, Canada, 2015
    • Multinational Finance Society Annual Conference, Italy, 2011; Turkey, 2013; Greece, 2015
    • Administrative Sciences Association of Canada (ASAC) Annual Conference, Canada, 2015
    • Eastern Financial Association Annual Conference, U.S., 2012, 2014, 2015
    • Atlantic Schools of Business Conference, Canada, 2013
    • Academy of International Business Annual Conference, Turkey, 2013
    • European Financial Management Association Annual Conference, U.K., 2013
    • Southern Financial Association Annual Conference, U.S., 2011, 2012
    • Asian Finance Association Annual Conference, Taiwan, 2012
    • Canadian Economics Association Annual Conference, Canada, 2008, 2009, 2010, 2011, 2012
    • Edwards Symposium on Financial Markets & Institutions, Canada, 2011
    • International Association for Business and Society Annual Conference, Canada, 2010
    • Far East and South Asia Meeting of Econometric Society Conference, Japan, 2009
    • Workshop on Data Revision in Macroeconomics Forecasting and Policy, Canada, 2008
    • Midwest Econometrics Group Annual Conference, U.S., 2008
    • International Policy Forum on Greenhouse Gas Management, Canada, 2005