Steven Zheng

Steven Zheng is a Professor and Department Head in the Accounting & Finance Department at the Asper School of Business, University of Manitoba. He holds the prestigious Stu Clark Professorship in Financial Management (since 2022) and previously held the BMO Professorship in Finance. His research focuses on corporate finance, equity offerings (IPOs, seasoned equity offerings, private placements), and corporate governance, particularly examining issues like IPO underperformance, financial misconduct in Chinese markets, and internal control mechanisms.

Education: Ph.D. in Finance from the State University of New York. Notable awards include the Associates Award for Excellence in Research (2006, 2019).

Research emphasizes empirical analysis of capital markets, with findings showing IPOs often waste raised capital and Chinese firms using private placements to exploit investors. His 2020 paper on China’s private placements was particularly impactful.

Teaching specialization includes corporate finance and investments. He has contributed to curriculum development in finance/accounting at both undergraduate and graduate levels.

Key research trends across articles include: 1) IPO valuation dynamics and post-offering performance, 2) cross-border listing strategies (ADR valuations), 3) corporate governance failures affecting shareholder value, and 4) SOX compliance impacts on internal controls.