- Xiao， Xiang
- Title: Professor
- Tel:86-10-51685073
- E-mail: xxiao@bjtu.edu.cn
- Department: Accounting
Education Background
Bachelor：1987-1991，Technical economy，Northern Jiaotong University
Master：1991-1994，Technical economy，Northern Jiaotong University
Ph.D.：1997-2001，Industrial Economics，Northern Jiaotong University
Work Experience（Including Academic Visiting）
1.2009-12-01，Beijing Jiaotong University，Professor
2.2007-12-13，2008-05-16，Binghamton University， State University of New York，Visiting Scholar
3.2004-02-01，2004-06-01，School of Economics and Law， Victoria University， Australia，Visiting Scholar
4.2002-01-01，2009-11-01，Beijing Jiaotong University，Associate Professor
5.1996-10-01，2001-12-01，Beijing Jiaotong University，Lecturer
Research Interests
Corporate Finance，，Investment and Financing Analysis，Assessment Theory and Methodology，Corporate Governance
Research Project
1. Academic Research
1. (PI)Research on effect evaluation and debt sustainability of Belt and Road Initiative railway project,National Social Science Foundation of China General Program,PI:Xiao， X.(2019-07-15 - 2022-07-31).
2. (PI)Research on the future strategic direction of Beijing-Tianjin-Hebei transportation integration （1）,Beijing High-End Think Tank Project,PI:Xiao， X.(2019-07-11 - 2020-12-30).
3. (PI)Study on the effect of high speed railway,National Railway Administration of the Peoples Republic of China,PI:Xiao， X.(2019-04-23 - 2020-06-30).
4. (CO-PI)Research on the influence of industry-finance integration and institutional environment on the innovation of central enterprises,Key Cultivation Project Supported by Humanities and Social Sciences of Basic Scientific Research Operating Expenses,CO-PI:Li， Y.(2019-03-15 - 2024-09-30).
5. (CO-PI)Research on the role of government in the construction of science and technology innovation center,Beijing Science & Technology Commission,CO-PI:Feng， H.(2018-05-01 - 2019-04-30).
6. (CO-PI)Research on corporate social responsibility， financing structure and capital allocation efficiency,Basic Scientific Research Operating Expenses,CO-PI:Zhao， T.(2018-04-01 - 2020-03-31).
7. (CO-PI)Manager characteristics， internal control and corporate social responsibility information disclosure,Basic Scientific Research Operating Expenses,CO-PI:Jiang， Y.(2018-04-01 - 2020-03-31).
8. (PI)Innovative development and benefit evaluation of High Speed Rail Cars in China,Special Project Supported by Humanities and Social Sciences of Basic Scientific Research Operating Expenses,PI:Xiao， X.(2017-11-24 - 2019-02-28).
9. (CO-PI)The Belt and Road Initiatives infrastructure network: Status， demand and potential,Basic Scientific Research Operating Expenses,CO-PI:Zhang， Q.(2017-01-01 - 2019-12-31).
10. (PI)Research on mechanism promoting deep integration between science technology and economy,National Social Science Foundation of China Major Program,PI:Feng， H.(2016-11-16 - 2020-12-31).
11. (CO-PI)Research on expanding the business system of railway asset securitization,China Railway,CO-PI:He， X.(2016-05-01 - 2018-04-19).
12. (PI)Research on the evaluation model and subsidy mechanism of financial subsidy after public transport price increase in Beijing,Beijing Philosophy and Social Affairs Office,PI:Xiao， X.(2015-08-31 - 2020-07-20).
13. (PI)Research on capitalization management of scientific research projects of China Railway Corporation,China Railway,PI:Xiao， X.(2015-06-01 - 2016-12-31).
14. (CO-PI)The economic consequences of disclosure of internal control defects: Earnings quality， equity value and capital cost,National Natural Science Foundation of China General Program,CO-PI:Cheng， X.(2013-10-01 - 2016-12-31).
15. (CO-PI)Research on the evolution of transportation behavior based on the marginal analysis,Doctoral Foundation of Ministry of Education of China,CO-PI:Li， W.(2013-01-01 - 2015-12-31).
16. (CO-PI)Research on the cohesion in the growth of enterprises,Ministry of Education Planning,CO-PI:Li， W.(2012-03-31 - 2015-03-31).
2. Consulting Research
1. (PI)Research on related problems and countermeasures of goodwill evaluation and impairment of mergers and acquisitions,Social Science Commercially Funded Project,PI:Xiao， X.(2018-08-01 - 2019-07-31).
2. (PI)Research on innovative mode and economic benefit evaluation of new Chinese high-speed railway passenger cars,Social Science Commercially Funded Project,PI:Xiao， X.(2017-11-20 - 2021-06-30).
3. (PI)Research on promotion and optimization of enterprise cohesion in Henan Hongda Group,Social Science Commercially Funded Project,PI:Xiao， X.(2017-05-03 - 2019-06-30).
4. (PI)Study on matching price system and traffic distribution of Beijing new airport,Social Science Commercially Funded Project,PI:Xiao， X.(2017-04-06 - 2018-06-30).
Honors and Awards
1.2019-01-01，Excellent paper award of academic activities of China Railway Association
2.2019-01-01，Excellent paper award of academic activities of China Railway Association
3.2017-01-01，Famous teacher
4.2016-12-01，The 14th Session of the Economic Management Society of China Industrial Technology Association and the 2nd Management， Innovation and
5.2015-12-01，The 13th China Industrial Technology Economics and Management Society Conference and the 2nd International Conference on Management， Innovation and Development （Mid 2015）
6.2015-11-01，Second Prize of National Asset Evaluation Case Competition
7.2015-11-01，National Asset Evaluation Case Competition
8.2015-04-01，The undergraduate innovation project guided by the national project excellence
9.2015-01-01，First prize of Railway Science and technology award of China Railway Society
Teaching Courses
Undergraduate
Financial Management
Introduction to High Speed Rail Economics
Comprehensive research on financial management
Enterprise Investment and Finance
Disclosure and Analysis of Accounting Information of Listed Companies
SME investment and financing
Asset Appraisal
Asset valuation
project financing
Fundamentals of Financial Management
Postgraduate
Asset evaluation theory and method
Business ethics and social responsibility
Corporate Governance
Financial management theory and practice
Project investment and financing analysis
Financial Management
Project investment and financing and asset evaluation
Asset evaluation practice and case analysis
Corporate governance structure
Publications
1. Peer Reviewed Journals
1. Xiao， X.,Zhao， T.， & Jia， L.(2019).Social responsibility information disclosure and financing cost,Journal of Beijing Technology and Business University （Social Sciences）.
2. Zhao， T.,& Xiao， X.(2019).The impact of corporate social responsibility on financial constraints: Does the life cycle stage of a firm matter?,International Review of Economics & Finance.
3. Xiao， X.,Jiang， Y.， & Cheng， Y.(2019).Research on the efficiency evaluation of Belt and Road Initiative construction financial cooperation,Journal of Regional Financial Research.
4. Yao， Z.,Jiang， Y.， & Xiao， X.(2019).Analysis on the present situation and mode of financing of Belt and Road Initiative project—Taking transportation infrastructure as an example,Northern Economy and Trade.
5. Zhao， T.,Xiao， X.， & Zhang， B.(2019).Stakeholder network and corporate social responsibility of private enterprises,Chinese Journal of Management.
6. Xiao， X.,Zhao， T.， & Cheng， Y.(2019).Research on current situation and optimization strategies of financial cooperation construction of the Belt and Road Initiatives,Hainan Finance.
7. Xiao， X.,Zhang， J.， & Quan， Z.(2018).Does investorsinvestigation affect the trade credit financing of listed companies?—An empirical study based on a-shares listed companies in shenzhen stock market,The Theory and Practice of Finance and Economics.
8. Zhao， T.,Xiao， X.， & Zhang， B.(2018).The dynamic effect of corporate social responsibility on capital allocation efficiency—Based on the moderating effects of corporate governance,Journal of Shanxi University of Finance and Economics.
9. Feng， L.,Xiao， X.， Zhang， J.， & Quan， Z.(2018).Corporation social responsibility performance， ownership and equity capital cost,Journal of Beijing Jiaotong University （Social Sciences Edition）.
10. Zhang， J.,Xiao， X.， & Li， X.(2018).Environmental uncertainty， corporate social responsibility and debt default risk—Empirical study based on Chinese A-share listed companies,Economic Survey.
11. Huang， J.,Xiao， X.， Kang， H.， & Lan， Y.(2018).Research on the countermeasures of innovative development of chinese high speed rail EMUs,Urban Public Transport.
12. Xiao， X.,Xiao， X.， Jiang， Y.， & Li， X.(2018).Study on the model of financial subsidy for rail transit in Beijing,Urban Rapid Rail Transit.
13. Xiao， X.,Jia， L.， Xiao， X.， & Li， X.(2018).Research on the financial subsidy mechanism of Beijing rail transit,China Transportation Review.
14. Xiao， X.,Xiao， X.， Li， X.， & Jia， L.(2018).The integration of high-speed railway transportation and modern logistics promoted by new high-speed trains,Journal of Changan University （Social Science Edition）.
15. Zhong， K.,Cheng， X.， Xiao， X.， & Zheng， L.(2017).Do Macroeconomic policies affect corporate innovation investment?—Evidence from financing constraints and financing sources,Nankai Business Review.
16. Feng， L.,Xiao， X.， & Cheng， X.(2016).Effect of corporate social responsibility on firm risk: Based on the economic conditions of China,Nankai Business Review.
17. Feng， L.,Xiao， X.， Zhang， J.， & Zhao， T.(2016).Governance effect of CSR on earnings management based on the patterns and motivations of earnings management,Journal of Chongqing University （Social Science Edition）.
18. Ding， H.,He， L.， Li， Y.， & Xiao， X.(2016).Economic sustainability and development path of high-speed railway in China,Journal of Beijing Jiaotong University.
19. Feng， L.,Xiao， X.， & Zhao， T.(2016).The effect of economic performance on the quality of corporate social responsibility disclosure—Based on the disclosure regulation in China,Chinese Journal of Management.
20. Feng， L.,Xiao， X.， & Zhang， J.(2016).Inherent mechanism of impact of corporate social responsibility on debt default risk—Using operation capacity and operation risk as mediating variables,East China Economic Management.
21. Feng， L.,& Xiao， X.(2016).Corporate social responsibility and debt default risk—An analysis based on the principles and practice of iso26000 social responsibility guidelines,The Theory and Practice of Finance and Economics.
22. Feng， L.,Xiao， X.， & Cheng， X.(2016).Disclosure regulation， corporate social performance and corporate social disclosure—Based on the signaling theory,Modern Finance and Economics-Journal of Tianjin University of Finance and Economics.
23. Feng， L.,Xiao， X.， Zhao， T.， & Zhang， J.(2016).Social performance， information disclosure and financing constraints—Empirical evidence from chinese listed companies,Journal of Beijing Jiaotong University （Social Sciences Edition）.
24. Feng， L.,Xiao， X.， & Zhao， T.(2016).Social responsibility， business trust and cost of trade credit,Journal of Beijing Technology and Business University （Social Sciences）.
25. Feng， L.,& Xiao， X.(2015).A summary of the research on corporate social responsibility from the perspective of finance,Communication of Finance and Accounting.
2. Textbook
1. Xiao， X.& Liu， T.,Enterprise Financing,Tsinghua University Press & Beijing Jiaotong University Press,2019-03.
2. He， L.& Xiao， X.,Valuation Theory and Practice,Posts & Telecom Press,2018-04.
3. Liu， Y.& Xiao， X.,Asset Evaluation Theory and Management,China Financial & Economic Publishing House,2015-04.
3. Monographs
1. Xiao， X.,2019,Study on Financial Subsidy Model and Mechanism of Public Transportation in Beijing,Beijing Jiaotong University Press.
2. Ou， G.,Bi， Y.， Mao，B.， Ye， L.， Feng， H.， Yan， X.， Song， S.， Shao， C.， Xiao， X.， Yao， E.， & Rong， C.2019,Comprehensive Report on Transportation Development in Beijing （2019）,Economic Science Press.
3. Huang， J.,Xiao， X.， Ni， F.， & Zhao， Z.2019,Innovation and Economic Analysis of Chinese High Speed EMU,China Railway Publishing House C0.，LTD.
4. Li， H.,Xiao， X.， Zhou， H.， Bu， W.， Shi， M.， Li， J.， Duan， J.， Zheng， K.， Guo， L.， & Jiao， J.2018,An Introduction to the Economics of High-speed Railway,China Railway Publishing House.
5. Xiao， X.,& Zhu， X.2015,Risk Assessment and Management of Rail Transit Project,Central Document Publishing House.
4. Academic/professional Meeting proceedings
1. Jia， L.,& Xiao， X..2017.Analysis about equity incentives impact on the inefficeient investment[R].In:The Forth International Conference on Management， Innovation & Development （MID 2017）,2017-11.
2. Wang， Z.,& Xiao， X..2017.Resarch on the correlation between capital structure and profitability[R].In:The Forth International Conference on Management， Innovation & Development （MID 2017）,2017-11.
3. Xiao， X.,& Chen， X..2017.Mechanism of social responsibility influncing on cost of debt capital[R].In:The Forth International Conference on Management， Innovation & Development （MID 2017）,2017-11.
4. Xiao， X.,& Li， X..2017.Economic benefit analysis of the new 3x series EMUS[R].In:The Forth International Conference on Management， Innovation & Development （MID 2017）,2017-11.
5. Li， X.,& Xiao， X..2017.Earnings management and internal control[R].In:The Forth International Conference on Management， Innovation & Development （MID 2017）,2017-11.
5. Published Cases
1. Li， Y.， Sun， S.， &Xiao， X.,Ruihuas pain | two penalty tickets in two years sounded the risk alarm of CPA Industry,China Professional-degree Case Center,,2018-01.
2. Xie， J.， Cui， Y.， Xiao， X.， &Liu， Y.,Is the difference between two rounds of assessment ofSteyr Motors reasonable？,,The Teaching Case Competition of China National Master of Valuation Educational Supervisory Committee,2015-11.
Expert Proposals
1.Xiao， X.， Dai， Q.， & Jia， L..(2020)Construct Beijing traffic information monitoring and early warning system as soon as possible, . 1.Xiao， X.， Rong， C.， Lin， X.， Chen， J.， & Dai， Q..(2020)The influence of COVID-19 epidemic situation on railway industry and its countermeasures, .
6. Other publications
Teaching Development Articles
1.
Ding， H.， He， L.， Xiao， X.. Thoughts on the curriculum setting of financial management major. Improving the Quality of Talent Training and Promoting the Construction of Double First-class | Collection of Papers on Undergraduate Teaching Research and Reform of Beijing Jiaotong University （2025）. 2018-04..
2.
Ma， Z.， Tao， Q.， Xiao， X.， Zhang， L.. To lead the construction of industrial and commercial clusters in Beijing and promote the creation of first-class industrial and commercial disciplines. Improving the Quality of Talent Training and Promoting the Construction of Double First-class | Collection of Papers on Undergraduate Teaching Research and Reform of Beijing Jiaotong University （2019）. 2018-04..
3.
Ding， H.， He， L.， Xiao， X.. Thoughts on the curriculum setting of financial management major. Innovation for the future to promote the construction of double first - class. 2017-12..
4.
He， L.， Xiao， X.. Through the practice， the path analysis of improving the students to evaluate the comprehensive ability. Innovation for the future to promote the construction of double first - class. 2017-12..
5.
Ma， Z.， Tao， Q.， Xiao， X.， Zhang， L.. To lead the construction of industrial and commercial clusters in Beijing and promote the creation of first-class industrial and commercial disciplines. Innovation for the future to promote the construction of double first - class. 2017-12..
Others
1.
Ding， H.， He， L.， Xiao， X.. Thoughts on the curriculum setting of financial management major. Improving the Quality of Talent Training and Promoting the Construction of Double First-class | Collection of Papers on Undergraduate Teaching Research and Reform of Beijing Jiaotong University （2025）. 2018-04. .
2.
Ma， Z.， Tao， Q.， Xiao， X.， Zhang， L.. To lead the construction of industrial and commercial clusters in Beijing and promote the creation of first-class industrial and commercial disciplines. Improving the Quality of Talent Training and Promoting the Construction of Double First-class | Collection of Papers on Undergraduate Teaching Research and Reform of Beijing Jiaotong University （2019）. 2018-04. .
3.
Ding， H.， He， L.， Xiao， X.. Thoughts on the curriculum setting of financial management major. Innovation for the future to promote the construction of double first - class. 2017-12. .
4.
He， L.， Xiao， X.. Through the practice， the path analysis of improving the students to evaluate the comprehensive ability. Innovation for the future to promote the construction of double first - class. 2017-12. .
5.
Ma， Z.， Tao， Q.， Xiao， X.， Zhang， L.. To lead the construction of industrial and commercial clusters in Beijing and promote the creation of first-class industrial and commercial disciplines. Innovation for the future to promote the construction of double first - class. 2017-12. .
Social Practice
1. Administrative Experience & University and School
1. Secretary of the Party Branch of the Accounting Department of the School of Economics and Management， Beijing Jiaotong University. ..
