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Yue Qiu

Assistant Professor of Finance
​Fox School of Business
Temple University
yue.qiu@temple.edu

Current Research Areas:

  • Corporate Finance

  • Banking

  • ESG

  • Labor Economics

  • Industrial Organization

  • Natural Language Processing

  • Large Language Model

​

Education​

  • PhD - University of Minnesota

  • MS - Arizona State University

  • BA,BS - Renmin University of China

Publications

1. Minimum Wage Hikes and Technology Adoption: Evidence from U.S. Establishments (with Xin Dai), Journal of Financial and Quantitative Analysis, 59(4), Pages 1620-1658, 2024.

  • SSRN Version

  • Presented at: Temple University, 2020 Philly Five Conference, 2021 Financial Intermediation and Research Society Meeting, 2021 Society of Labor Economists Meeting, 2022 Midwest Finance Association Meeting, IAB-LISER Seminar Series on Minimum Wages and Low Wage Policies.

 

2. Labor-Market Concentration and Labor Compensation (with Aaron Sojourner), Industrial and Labor Relations Review, 76(3), pages 475-503.(Lead Article)

 

3. Organized Labor Effects on SG&A Cost Behavior (with Hsihui Chang, Xin Dai, and Eric Lohwasser), Contemporary Accounting Research, 2022, 39(1), pages 404-427.​

  • SSRN Version

  • Presented at: City University of Hong Kong, Drexel University, Feng Chia University, Fudan University, Nanyang Technological University, National Central University, National Taipei University, Peking University, Shanghai Jiao Tong University, Xiamen University, and Yuan Ze University, the 2016 MAS Midyear Meeting

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4. Skilled Labor Risk and Corporate Policies (with Tracy Wang), The Review of Corporate Finance Studies, 2021, 10(3), Pages 437-472. (Editor’s Choice) 

  • SSRN Version

  • Download [Skilled Labor Risk Data]

  • Presented at: Southwest University of Finance and Economics in China, University of Minnesota, University of Miami, Tulane University, University of Oklahoma, BI Norwegian Business School, University of Nebraska–Lincoln, University of Illinois Urbana–Champaign, University of Alabama, the 2017 Financial Intermediation and Research Society Meeting, the 2017 Western Finance Association Meeting, 2017 Philly Five Conference

 

5. Common Ownership and Corporate Social Responsibility (with Xin Dai), The Review of Corporate Finance Studies, 2021, 10(3), Pages 551-577.

  • SSRN Version

  • Presented at: Temple University, the 2020 Hawai’i Accounting Research Conference

 

6. Labor Adjustment Costs and Risk Management, Journal of Financial and Quantitative Analysis, 2019, 54(3), Pages 1447-1468.

  • SSRN Version​

  • ​Presented at: University of Minnesota, the 2017 Midwest Finance Association Meeting

 

7. Organized Labor and Loan Pricing: A Regression Discontinuity Design Analysis (with Tao Shen), Journal of Corporate Finance, 2017, Vol. 43, Pages 407-428.

  • SSRN Version

  • ​Presented at: University of Minnesota, the 2015 Eastern Finance Association Meeting, the 2015 Financial Management Association Meeting, the 2015 Tsinghua Finance Workshop, and the 2016 Midwest Finance Association Meeting

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Working Papers

1. Corporate Social Responsibility and Employee Retention (with Xiao Cen and Tracy Yue Wang)

  • Revise and Resubmit at Review of Financial Studies

  • ​Presented at:  Georgia State University, Temple University, University of California at Los Angeles, University of Nevada at Las Vegas, University of Oklahoma, University of Minnesota, Texas A&M University, University of Kansas, University of Hawaii, the 2021 Labor and Finance Group Fall Seminar, the 2021 Philly Five Conference, the 2022 Midwest Financial Association Meeting, the 2023 UNC-Duke Corporate Finance Conference, the 2023 SFS Cavalcade Conference

 

2. Corporate Diversity Culture Spillover (with Xiao Cen and Tracy Yue Wang)

  • Revise and Resubmit at Journal of Finance

  • Presented at: Baruch College, Drexel University, Federal Reserve Bank of Philadelphia, Lehigh University, University of Minnesota, University of Washington, the 2022 Empirical Management Conference, the Corporate Finance Virtual Seminar, the 2023 U of Delaware Weinberg Center/ECGI Corporate Governance Symposium, the 2023 BMCFC Annual Corporate Finance Conference, the 2023 Financial Intermediation Research Society Meeting, the 2023 China International Conference in Finance

​​​

3. Debt Structure as a Strategic Bargaining Tool

  • Revise and Resubmit at The Review of Corporate Finance Studies

  • Presented at: University of Minnesota, Louisiana State University, Lehigh University, Northeastern
    University, Southern Methodist University, Nanyang Technological University, National University of Singapore, Temple University, the 2017 Western Finance Association Meeting, the 2017 SFS Cavalcade, the 2017 Midwest Finance Association Meeting, the Washington
    University 13th Annual Corporate Finance PhD Poster Session, the 2016 CSEF-EIEF-SITE Conference on Finance and Labor

 

4. Common Ownership and Wages (with José Azar, Xin Dai, and Aaron Sojourner)​

  • Media Coverage: New York Times

  • ​Presented at:  the University of Pennsylvania (Wharton), the University of Rochester (Simon), Hitotsubashi University, CEMFI, the 2022 Midwest Economics Association Meeting, the 2022 Society of Labor Economists Meeting, the 2023 American Finance Association Meeting, the 2023 Fall Labor and Finance Group Meeting

 

5. Wage Inequality and Labor Rights Violations (with Ioana Marinescu and Aaron Sojourner)

  • Revise and Resubmit at Industrial and Labor Relations Review

  • Media Coverage: MarketWatch, Jacobin, Bloomberg

  • Presented at: the 2021 ASSA

​

6. M&A and Workplace Safety: Evidence from Mines (with Paolo Volpin and Aaron Sojourner)

  • Presented at: 2024 Empirical Management Conference, 2025 Midwest Finance Association Conference

​​

​

Work in Progress

1. No Place Like Home: Corporate and Community Outcomes of the U.S. Reshoring Movement (with Mo Shen and Huijun Wang)​

​

​Abstract: This study provides the first comprehensive analysis of reshoring, the practice of bringing manufacturing jobs back to the United States. Examining over 4,000 reshoring events across the entire U.S. corporate sector, we find that reshoring activities increased more than tenfold from 2010 to 2022, reaching nearly every state. Using a large language model to analyze reshoring news, we quantify time trends for the most prominent motivations, including supportive policies, innovation needs, consumer perception, sustainability goals, and logistical challenges. Upon the announcement of reshoring, publicly traded firms outperform the benchmark by 0.49% during the 3-day event window, amounting to about $180 million in gains. Difference-in-differences analysis reveals that reshoring reduces firm risk and enhances cash flow. Reshoring has a positive impact on employee earnings in the manufacturing sector at the county level, but its effect on employment is modest, with limited spillover effects on non-manufacturing sectors.

​​​

Professional Activities

Research Media Coverage:

 

Presentations

  • Lehigh University (Bethlehem, 2024)

  • Federal Reserve Bank of Philadelphia (Philadelphia, 2023)

  • Labor and Finance Fall Meeting (Chicago, 2023)

  • Hitotsubashi University (Virtual, 2023)

  • Financial Intermediation Research Society (FIRS) Conference (Vancouver, 2023)

  • Drexel University (Philadelphia, 2023)

  • U of Delaware Corporate Governance Symposium (Newark, DE, 2023)

  • American Finance Association Annual Meeting (New Orleans, 2023)

  • Philadelphia Annual Regional Finance Research Symposium (Philadelphia, 2022)

  • Midwest Finance Association Annual Meeting (Chicago, 2022)

  • Labor and Finance Group Fall Seminar  (Virtual, 2021)

  • Financial Intermediation Research Society (FIRS) Conference (Virtual, 2021)

  • Society of Labor Economists Annual Meeting (Virtual, 2021)

  • IAB-LISER Seminar (Virtual, 2021)

  • Philadelphia Annual Regional Finance Research Symposium (Philadelphia, 2019)

  • Philadelphia Annual Regional Finance Research Symposium (Philadelphia, 2017)

  • WFA (Whistler, BC, 2017)

  • SFS Cavalcade (Vanderbilt University – Nashville, TN, 2017)

  • Financial Intermediation Research Society (FIRS) Conference (Hong Kong, 2017)

  • Washington University 13th Annual Corporate Finance PhD Poster Session (St. Louis, 2016)

  • CSEF-EIEF-SITE Conference on Finance and Labor (Capri, 2016)

  • Financial Intermediation Research Society (FIRS) Conference (Lisbon, 2016)

  • Midwest Financial Association (MFA) Annual Conference (Atlanta, 2016)

  • Financial Management Association (FMA) Annual Meeting (Orlando, 2015)

  • Eastern Finance Association Annual Meeting (New Orleans, 2015)

  • Northwestern-Duke Causal Inference Workshop (Chicago, 2014)

 

Discussions

  • CICF (Virtual, 2023)

  • European Finance Association Meeting (Virtual, 2020)

  • CFEA (Philadelphia, 2017)

  • China International Conference in Finance (Xiamen, 2016)

  • Midwest Financial Association (MFA) Annual Conference (Atlanta, 2016)

  • Financial Management Association (FMA) Annual Meeting (Orlando, 2015)

  • Eastern Finance Association Annual Meeting (New Orleans, 2015)

 

Other Conference Participation

  • Labor and Finance Group Meeting (2017, 2019)

  • Drexel Corporate Governance Conference (Drexel University, 2016)

  • Conference on Financial Economics and Accounting (Rutgers University, 2015)

  • Finance Theory Group Summer School (Washington University at St. Louis, 2015)

  • China International Conference in Finance (CICF) (Shenzhen, 2015)

  • American Finance Association (AFA) Annual Meeting (Boston, 2015)

  • Minnesota Corporate Finance Conference (University of Minnesota, 2012-2016)

 

Professional Service and Affiliation

  • Ad-hoc Reviewer for:

Review of Financial Studies, Management Science, Review of Corporate Finance Studies,

Review of Finance, Journal of Corporate Finance, Journal of Empirical Finance,

Journal of Banking and Finance, International Review of Economics & Finance

 

Honors & Awards

  • Young Scholar Fund (Temple University, 2022)

  • Cubist Systematic Strategies Ph.D. Candidate Award for Outstanding Research, 2017

  • Midwest Finance Association (MFA) Travel Grant Award, 2017

  • Best Finance Ph.D. Award at WUSTL Conference on Corporate Finance, 2016

  • Carlson School of Management Dissertation Fellowship, 2016

  • Carlson School of Management Fellowship 2012-2017

  • Carlson School of Management Travel Fellowship, 2016

  • John Willard Herrick Travel Award – Department of Finance, 2016

  • American Financial Association Travel Grant, 2014

Teaching

Temple University (2017-present)

Instructor

  • FIN 3504 Intermediate Corporate Finance (2017-Present, Temple University)

    • Fox undergraduate core course​​

 

University of Minnesota (2012-2016)

Instructor

  • FINA 3001 Finance Fundamentals (Fall 2014 and Spring 2015, University of Minnesota)

    • Carlson undergraduate core course

    • Teaching Evaluation: 5.4/6.0

Teaching Assistant 

  • MBA Courses

    • Corporate Finance Analysis and Decisions

    • Portfolio Analysis and Management

    • World Economy

  • Undergraduate Courses

    • Financial Markets & Interest Rates

    • Portfolio Management & Performance Evaluation

    • Options of Corporate Finance

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