Connie (Xiangdong) Mao

Profile Picture of Connie (Xiangdong) Mao

Connie (Xiangdong) Mao

  • Fox School of Business and Management

    • Finance

      • Professor

      • Wolfbein Senior Research Fellow


Dr. Connie X. Mao is a Professor of Finance and Seymour Wolfbein Senior Research Fellow at Temple University Fox School of Business. She holds a PhD in Finance from The Johnson School of Management at Cornell University (Ithaca, NY), and a PhD in Biomedical Science from Cornell University Medical School (New York, NY). Her research expertise is corporate finance. Her primary research interest is in the areas of debt contracting, agency conflicts, innovation, and social corporate finance.

Specifically, Dr. Mao’s research examines the effect of agency conflicts on the financing decisions of firms and debt contracting, and how the resolution of these conflicts influences firm performance, corporate innovation, and the efficiency of security markets. She has published papers in Journal of Finance, Journal of Financial and Quantitative Analysis, Management Science, The Accounting Review, Journal of Law and Economics, etc. She has been named multiple times to the Fox School Dean’s Research Honor Roll and is a recipient of the Andrisani-Frank Undergraduate Teaching Award and the FMA Outstanding Finance Professor Award.

Courses Taught




FIN 3507

Security Analysis and Portfolio Management


Selected Publications


  • Balsam, S., Mao, C.X., Xu, M., & Zhang, Y.J. (2023). The Effect of State Minimum Wage Increases on Nonprofit Organizations. Nonprofit and Voluntary Sector Quarterly, 52(6), 1722-1752. SAGE Publications. doi: 10.1177/08997640221138266.

  • Deng, S., Mao, C.X., Pu, X., & Xu, Y. (2023). Import penetration and workplace safety. The Quarterly Review of Economics and Finance, 90, 149-161. Elsevier BV. doi: 10.1016/j.qref.2023.05.007.

  • Bradley, D., Mao, C.X., & Zhang, C. (2023). Do corporate taxes affect employee welfare? Evidence from workplace safety. Journal of Accounting and Public Policy, 42(4), 107112-107112. Elsevier BV. doi: 10.1016/j.jaccpubpol.2023.107112.

  • Gu, Y., Mao, C.X., & Johnson, T. (2022). Evidence supporting a cultural evolutionary theory of prosocial religions in contemporary workplace safety data. Sci Rep, 12(1), 5239. England. 10.1038/s41598-022-09322-6

  • Bradley, D., Mao, C.X., & Zhang, C. (2021). Does Analyst Coverage Affect Workplace Safety? Management Science. doi: 10.1287/mnsc.2021.4093.

  • Deng, S., Mao, C., & Xia, C. (2021). Bank Geographic Diversification and Corporate Innovation: Evidence from the Lending Channel. Journal of Financial and Quantitative Analysis, 56(3), 1065-1096. doi: 10.1017/S0022109020000083.

  • Mao, C. & Song, W. (2021). Does reciprocity affect analysts’ incentives to release timely information? Evidence from syndication relationships in securities underwriting. Management Science, 67(1), 617-639. doi: 10.1287/mnsc.2019.3435.

  • Mao, C. & Weathers, J. (2019). Employee Treatment and Firm Innovation. Journal of Business Finance & Accounting, 46, 977-977. doi: 10.1111/jbfa.12393.