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Boya Wang

Research Associate

In November 2018, Boya took a new role at Said Business School at the University of Oxford as a research fellow of the Ford Foundation-funded Ownership Project led by Professor Peter Tufano and Professor Colin Meyer. As the lead of the quantitative team, he will be conducting a series of econometric analyses to assess the impact on our sample firms’ ESG performance of their ownership characteristics. We are in the stage of expanding the existing dataset by including more ownership variables pertaining to governments, institutional shareholders, management, and employees. In this way, we aim to provide more empirical assessment of the interactions among different stakeholders, and in particular how such interactions influence the firms’ ESG performance and income inequality at a societal level.

Prior to the Ford Foundation-funded Ownership Project, Boya was a research fellow at Centre for Business Research (CBR) at Cambridge Judge Business School. Under the ESRC-funded Rising Power Project, Professor Simon Deakin and focused on how legal protection of shareholders, creditors, and workers’ rights influence economic outcomes at firm level, including firm value and productivity. My other research projects involved “Maximising Innovation in the Supply Chain beyond Procurement & Contract Execution” (funded by Innovate UK) and “Informal Finance in China: Risks, Potential and Transformation” (funded ESRC and the Natural Science Foundation of China). My research often employs a mixed-methods methodology where econometric analysis of time series and panel data have been complemented with fieldwork-based, semi-structured interviews with entrepreneurs, corporate executives, financial market regulators, and central policymakers.

Boya received a doctorate in Business Economics from Durham University (Castle College) and remains a Research Associate of CBR. 


Corporate governance; international business; the transformation of China’s state sector.


Law, Development & Finance in Rising Powers

Personal background

  • PhD in International Business, Durham University, 2008-2013
  • MSc in Financial Management, Durham University, 2005-2007
  • BA in Public Economics, Central University of Financial and Economics (Beijing, China), 2001-2005
  • Journalist and Research Assistant for the Chief Correspondent, Neue Zürcher Zeitung, 2007-2008

Selected publications

Wang, B., 2015. Ownership, Institutions and Chinese Firm Value: Looking beyond Legality. Working paper.

Chen, D., Deakin, S., Siems, M., &  Wang, B., 2015. Different Legal Institutions for Different Economic Settings: Evidence from Interviews in China. Working paper.

Ning, L., Kuo, J.M., Strange, R. and Wang, B. (2014) “International investors’ reactions to cross-border acquisitions by emerging market multinationals.” International Business Review, 23(4): 811-823

Contact details

Boya Wang
Saïd Business School
Park End Street
Oxford UK

Tel: 01865 614498