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Ziqiang Zhao Professor

Academic Area: 
  • Management Science
  • Economics
  • Finance
  • Industrial Economics
Research Interests: 
  • Financial Accounting Theory
  • Financial Statement Analysis & Security Valuation

Educational Background

Ph.D., Management (Management Science), Nanjing University of Science &Technology , 2007

M.A., Economics (Finance), Southeast University, 2002

B.A., Economics (Industrial Economics ), Southeast University, 1991

B.A., Engineering (Mechanism), College of Nanjing Aviation, 1986

Academic Visit, Durham University, 2010-2011

Research Projects

1. “Research on financial support for the SME development in Jiangsu”  , an excellent subject organized by Jiangsu Provincial Academy of Social Sciences (JSASS)


2. “Research on the relationship between stock market volatility and macroeconomic volatility”, National Social Science Funds Advanced Project organized by NNU


3. “Research on Infection Mechanism and Credit Risk Assessment of Supply Chain with the participation of financial institution”, Jiangsu Province Social Science Funds Project 


4. “Research on construction of financial credit system and Intangible Assets Evaluation System for cultural enterprise”, Jiangsu Province Cultural Industry Funds Project

5.  “Research on Performance Evaluation System and Sustainable Development Problems of small and medium commercial bank”, projects commissioned by Financial Enterprise


Journal Articles

  1. Xiaojing Ji, Ziqiang Zhao, Sha Sha. Transmission Analysis of Demand and Exchange Rate Risks in the Supply Chain. School of Computer Science and Technology, Nanjing Normal University, Nanjing (China), 2015 (12), 82-89


  2. Xinya Wei, Ziqiang Zhao. Credit Rating of Cultural industry---- Based on Empirical Study on Value Relevance of financial index and Non-financial index. Credit Reference (China), 2016(2), 55-61


  3. Ziqiang Zhao, Chang Cheng. Relationship between Correlation Degree of Upstream and Downstream Firms, Enterprise Working Capital,dividend distribution and Financial Risk---Based on Empirical Analysis on the Data of Chinese manufacturing Listed Firms. Technology Economics(China),2014(9),112-118


  4. Ziqiang Zhao, Xi Chen. Prediction of risk factors and fraud in the financial statements for listed companies in China. Commercial Research,2013,12:124-130. Research on Economics(China), 2013(12),124-130


  5. Ziqiang Zhao, Dixi Wu, Sha Sha. Bargaining Power of Suppliers and Buyers, and Accounting Conservatism—Evidence from Chinese Manufacturing Listed Companies. Journal of Financial Risk Management(China), 2015(4), 11-21


  6. Product Market Competition、Accounting Conservatism and Financial Cost--Evidence from China List Companies .Research on Economics and Management  (China), 2012 (11)


  7. Based on the Technology Life Cycle Model--Effect of Cisco’s M & A .Finance & Accounting (China), 2012 (11)


  8. The Study on the Demand for Insurance Transmission Mechanism of Chinese Monetary Policy. Finance Theory and Practice ( China), 2012(9)


  9. Stock Index Futures Hedging Performance Evaluation of Open End Fund--Based on A Variety of Models. Journal of Nanjing Normal University 2012(9)


  10. Risk Management and Corporate Strategy Integration --A case study of British Tesco (Tesco) . Finance & Accounting (China), 2011(8)


  11. Comparison Between Financial Policies Under Different Competition Strategies--Comparison Between “CHUNLAN” and “KONKA” in China competition industry .Economic Management (China), 2006 (2).


  12. An Empirical Study Review on The Interaction Between Capital Structure and Product-Market Strategy. Productivity Research (China), 2006 (2)


  13. An Empirical Study on The Interaction Between Capital Structure and Product-Market Strategy. Productivity Research (China), 2008(14)


  14. An Empirical Study on the Relationship Between Investment and Cash flow of China Listed Companies. Research on Economics and Management (China), 2008 (3)


  15. Debt Level and Corporate R&D Decisions- Empirical Investigation into the China Listed Manufactory Corporate. Audit and Economy Research (China), 2008 (6).


  16. Value at China University Financial Risk-Based on Faintness Mathematics. Industrial Technology &Economy (China), 2007 (8).


  17. Financial Conservatism and Corporate Competition. Finance & Accounting (China), 2005 (9)


  18. The Study of Relationship between Debt Level and Continuous Superiority in Competition- Evidence from China Appliance Equipment. Technology &Economy (China), 2005 (9).


  19. Value at Corporate Financial Flexibility. Industrial Technology & Economy (China), 2005 (7).


  20. Model Analysis of the Relations between the Extent of Competitive Interaction among Firms and Their Collusion on Debt Levels. Operations Research and Management Science (China), 2005 (6).


  21. A Study on Investment Value-Based on CAPM Model and MM Theory. Inquiry into Economic Problems (China), 2005 (2)


  22. Financial Conservation and Corporate Continuable Development-A Case Study on China Wine Corporate. Financial Communication (China), 2009 (2).


    Conference Papers

    1. Nontax costs and tax motivated accounting conservatism-study based on ownership property 2016 Academic Annual Conference of Accounting Society of China, Chongqing University, Chongqing, 2016.


    2. The Comparison of Mainland China and Hong Kong’s Banking Systematic Risk---based on Quantile Regression CoVaR Method, the 10th Financial Conference of China, Beijing university ,Beijing,2013


    3. Research on Accounting Conservatism, Operational Cash Flow Risk and Default Risk, the 11th  International Symposium on Accounting Research in China (ISAR), Beijing Technology and Business University,Beijing,2012


    4. Gender Differences is Important in the China Mutual Fund Industry? British Accounting and Finance 48th Annual conference Aston Business School, UK,2011


    5. Accounting Conservatism、Operating Cash Flows Risk and Default Risk. 11th International Symposium on Empirical Accounting Research, Beijing University, Beijing China , 2012.


    6. Analyses of Debt Maturity Impact on Corporate Investment Strategy-An Empirical Investigation into China’s Listed Companies. 2006 Academic Annual Conference of Accounting Society of China, Jinan University, Guangzhou, 2006.


    7. An Empirical Study on The Interaction Between Capital Structure and Product-Market Strategy. 4th International Symposium on Empirical Accounting Research, Fudan University, Fudan , 2005.


    8. An Empirical Study on The Interaction Between Capital Structure and Corporate Investment, 2006 Academic Annual Conference of Accounting Society of China, Jinan University, Guangzhou,2006.



Financial Management Tutorial and Case,Lixin Accounting Press,2010


Honors and Awards

1、“Comparison between Financial Policies under Different Competition Strategies” is awarded second prize in the field of enterprise reform and management by Jiangsu Province in 2006


2、An research on “study of the residential property income in Jiangsu province” for decision-making advisory, is awarded the third prize of the Eleventh Excellent Achievements in Philosophy and Social Science of Jiangsu province.


3、An research on “Reform Research on the exchange of Land Contract Management Right to urban social security and homestead &rural housing to urban housing” for decision-making advisory, is awarded the second prize of the Excellent Achievements in Annual Study of Elaborate Project by Social Science Association of Jiangsu Province in 2014.


Academic Titles

Deputy director ,Accounting and Finance Research Center ,Nanjing Normal University



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