X. Frank Zhang

Professor of Accounting

Professor X. Frank Zhang

Professor Zhang's research focuses on empirical capital market researches, including stock anomalies, fundamental analysis, investor and analyst behavior, management incentives, and corporate financial reporting. He is interested in both rational and behavioral approaches in studying stock anomalies and cross-sectional variations in stock returns.


  • PhD, University of Chicago, 2006
  • MBA, University of Chicago, 2005
  • BS, Nankai University, 1993


Selected Articles

F. Bova, K. Kolev, J. Thomas and F. Zhang
Accounting Review
J. Thomas and F. Zhang
Review of Accounting Studies
The surpraview of return predictive signals
F. Zhang, J. Green and J. Hand
Review of Accounting Studies
F. Zhang, M. Erickson, and S. Heitzman
The Accounting Review

Selected Working Papers

Analyst interest as an early indicator of firm fundamental changes and stock returns
F. Zhang, M. Jung, and F. Wong
Fundamental analysis and option returns
F. Zhang, T. Goodman, and M. Neamtiu
The Changing Landscape of Accrual Accounting
F. Zhang and A. Lerman
Spring-loading when no one is looking? Earnings and cash flow management around acquisition
F. Zhang, S. Chen, and J. Thomas
Investment-cash flow sensitivities are really investment-investment sensitivities
F. Zhang, R. Bushman, and A. Smith