 | Zhao Ningru | INSTITUTE OF ECONOMICS
AND FINANCE | | Nanjing Audit University | Associate Professor
Master's Supervisor
Executive Vice Dean | | | OFFICE | | Room 903, Mochou Zonghe Building, Mochou Campus | | PHONE | | 025-58313826 | | EMAIL | | zhaoningru@nau.edu.cn | | ADDRESS | | 77 Beiwei Road, Nanjing, China | | ZIP CODE | | 210029 |
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| | 2016 | Ph.D. in Economics · Northern Illinois University, USA | | 2007 | M.S. in Economics · Nankai University, China | | 2004 | B.A. in Management · Yangzhou University, China |
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| Business Cycles Labor Economics Behavioral Finance Housing Economics |
| Principles of Macroeconomics |
| Intermediate Macroeconomics |
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| 01 | Xu, L., Zhao, N., & Di Zheng, J. (2025). Religion, places of worship, and individual risk-taking in China. International Review of Financial Analysis, 104250. SSCI | | 02 | Zhao, N., Liu, L., & Chen, C. (2025). Investors’ opinion divergence, uncertainty resolution and market reactions to earnings news: Evidence from social media. International Review of Financial Analysis, 104277. SSCI | | 03 | Zhang, D., Zhao, N., & Yang, Z. (2025). The Impact of Green Finance on Rural Green Development: Theory and Evidence. Finance Research Letters, 107648. SSCI | | 04 | Zhao, N., Liu, L., Chen, Y., & Yu, X. (2025). Can Corporate Digitalization Deter Leverage Manipulation? Evidence from China. Finance Research Letters, 107796. SSCI | | 05 | Shi, Y., & Zhao, N. (2024). The effect of privatization on corporate innovation: New evidence from China’s ownership-transfer-privatization. International Review of Economics & Finance, 93, 1198-1211. SSCI | | 06 | Jiang, X., Pan, Z., & Zhao, N. (2023). Relative Value vs Absolute Value: Housing Wealth and Labor Supply. The Journal of Real Estate Finance and Economics, 66(1), 41-76. SSCI | | 07 | Jiang, X., Zhao, N., & Pan, Z. (2022). Regional housing wealth, relative housing wealth and labor market behavior. Journal of Housing Economics, 55, 101811. SSCI | | 08 | Pan, Z., Jiang, X., & Zhao, N. (2021). Does birth spacing affect female labor market participation? Evidence from urban China. China Economic Review, 68, 101644. SSCI | | 09 | Chen, C., Liu, L., & Zhao, N. (2021). Fear sentiment, uncertainty, and bitcoin price dynamics: The case of COVID-19. Emerging Markets Finance and Trade, 56(10), 2298-2309. SSCI | | 10 | Liu, L., Luo, D., & Zhao, N. (2020). Short-selling activity and return predictability: Evidence from the Chinese stock market. Emerging Markets Finance and Trade, 56(14), 3445-3467. SSCI | | 11 | Wu, G., Yang, B., & Zhao, N. (2020). Herding behavior in Chinese stock markets during COVID-19. Emerging Markets Finance and Trade, 56(15), 3578-3587. SSCI | | 12 | Zhao, N., Shi, Y., Sun, Y., & Miao, J. (2020). Aggregate labor market fluctuations under news shocks. Economic Modelling, 90, 397-405. SSCI |
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| 01 | “Research on the Money Laundering Risks and Countermeasures of the Digital RMB”, a horizontal research project, Principal Investigator, with a funding of 200,000 RMB. | | 02 | Research on Decision-Makers’ Risk Preferences and Incentive Effects—Evidence from Investment Decision Experiments, Jiangsu Provincial University Natural Science Research General Program (Project No. 15KJB180008), Project Leader, Completed. |
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| Fellowships, Awards and Honors |
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| 2020 | Student Evaluation Award, Nanjing Audit University | | 2023 | Award for Outstanding Contributor to Student Further-education, Employment and Entrepreneurship, Nanjing Audit University |
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