Professor Jason   Zein
Professor

Professor Jason Zein

  • PhD, University of New South Wales
  • BCom (First Class Hons.),University of New South Wales
Business School
School of Banking and Finance

I am currently Professor of Finance at the UNSW Business School. I have been a visiting scholar at Oxford University and Vanderbilt university and also taught entrepreneurial finance at the University of Melbourne. My research research interests include: corporate ownership and control around the world, incentives, venture capital, private equity and the financing of innovation. My research has been published in highly ranked finance journals such as the Journal of Finance, the Journal of Financial Economics and the Review of Financial Studies and has also been featured in the Harvard Business Review, Bloomberg News and Institutional Investor Magazine.

 

Further information, including my CV, can be found at my personal web page: www.jasonzein.com

 

 

Phone
+61 2 9385 5875
Location
UNSW Business School - Ref E12 Level 3, Office 310

Publications

  • Book Chapters | 2015
    Pham PK; Zein J; Masulis R, 2015, 'Ownership and Control in Family Business Groups around the World', in Research Handbook on Shareholder Power, Edward Elgar Publishing, pp. 131 - 167, http://dx.doi.org/10.4337/9781782546856.00018
    Book Chapters | 2015
    Masulis RW; Pham PK; Zein J, 2015, 'Chapter 7: Ownership and control in family business groups around the world', in Research Handbook on Shareholder Power, pp. 131 - 167, http://dx.doi.org/10.4337/9781782546856.00018
  • Journal articles | 2021
    Islam E; Rahman L; Sen R; Zein J, 2021, 'Eyes on the Prize: Do Industry Tournament Incentives Shape the Structure of Executive Compensation?', Journal of Financial and Quantitative Analysis
    Journal articles | 2020
    Zein J; Masulis R; Pham P, 2020, 'Family Business Group Expansion through IPOs: The Role of Internal Capital Markets in Financing Growth while Preserving Control', Management Science, vol. 66, pp. 5191 - 5215, http://dx.doi.org/10.1287/mnsc.2019.3418
    Journal articles | 2020
    Islam E; Zein J, 2020, 'Inventor CEOs', Journal of Financial Economics, vol. 132, pp. 505 - 527, http://dx.doi.org/10.1016/j.jfineco.2019.06.009
    Journal articles | 2018
    Dou Y; Masulis R; Zein J, 2018, 'Shareholder Wealth Consequences of Insider Pledging of Company Stock as Collateral for Personal Loans', Review of Financial Studies, vol. 32, pp. 4810 - 4854, http://dx.doi.org/10.1093/rfs/hhz034
    Journal articles | 2014
    Zein J, 2014, 'Filling the Capital Gap: The Financing Case for Crowd Sourced Equity Funding in Australia', Journal of Banking and Finance: Law and Practice
    Journal articles | 2013
    Deng H; Moshirian F; Pham PK; Zein J, 2013, 'Creating value by changing the old guard: The impact of controlling shareholder heterogeneity on firm performance and corporate policies', Journal of Financial and Quantitative Analysis, vol. 48, pp. 1781 - 1811, http://dx.doi.org/10.1017/S0022109014000039
    Journal articles | 2012
    Suchard JC; Pham KP; Zein J, 2012, 'Corporate Governance and the Cost of Capital: Evidence from Australian Companies', The Bank of America Journal of Applied Corporate Finance, vol. 24, pp. 84 - 93, http://dx.doi.org/10.1111/j.1745-6622.2012.00392.x
    Journal articles | 2011
    Masulis R; Pham P; Zein J, 2011, 'Family Business Groups around the World: Costs and Benefits of Pyramids', Review of Financial Studies, vol. 24, pp. 3556 - 3600, http://dx.doi.org/10.1093/rfs/hhr052
    Journal articles | 2006
    Li D; Moshirian F; Pham KP; Zein J, 2006, 'When Financial Institutions are Large Shareholders- The Role of Macro Corporate Governance Environments', Journal of Finance, vol. 61, pp. 2975 - 3007, http://dx.doi.org/10.1111/j.1540-6261.2006.01009.x
    Journal articles | 2004
    Martens M; Zein J, 2004, 'Predicting financial volatility: High-frequency time-series forecastsvis-a-vis implied volatility', Journal of Futures Markets, vol. 24, pp. 1005 - 1028, http://dx.doi.org/10.1002/fut.20126
    Journal articles | 2022
    Zein J; Pham PK; Masulis R; Ang A, 2022, 'Crises as Opportunities for Growth: The Strategic Value of Business Group Affiliation', Journal of Financial and Quantitative Analysis
    Book Chapters | 2015
    Masulis RW; Pham PK; Zein J, 2015, 'Chapter 7: Ownership and control in family business groups around the world', in Research Handbook on Shareholder Power, pp. 131 - 167, http://dx.doi.org/10.4337/9781782546856.00018
    Book Chapters | 2015
    Pham PK; Zein J; Masulis R, 2015, 'Ownership and Control in Family Business Groups around the World', in Research Handbook on Shareholder Power, Edward Elgar Publishing, pp. 131 - 167, http://dx.doi.org/10.4337/9781782546856.00018
  • Working Papers | 2020
    Islam ME; Rahman L; Sen R; Zein J, 2020, Eyes on the Prize: Do Industry Tournament Incentives Shape the Structure of Executive Compensation?, Cambridge University Press, http://dx.doi.org, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3653980
    Working Papers | 2019
    Masulis R; Zein J; Ang A; Pham P, 2019, Internal Capital Markets in Family Business Groups during the Global Financial Crisis, http://dx.doi.org
    Conference Papers | 2018
    Zein J; Rahman L; Islam E; Sen R, 2018, 'Employee Satisfaction and Corporate Innovation: Evidence from Quasi-Exogenous Natural Experiments', Tianjin, presented at China International Conference in Finance, Tianjin, 10 July 2018 - 13 July 2018
    Conference Papers | 2015
    Pham PK; Zein J; Masulis R, 2015, 'Internal Capital Markets in Family Business Groups during the Global Financial Crisis', in Internal Capital Markets in Family Business Groups during the Global Financial Crisis, Northern Finance Association, Lake Louise, Canada, presented at Northern Finance Association, Lake Louise, Canada, 18 September 2015 - 20 September 2015
    Working Papers | 2015
    Pham PK; Zein J; Qin S, 2015, Do Bilateral Investment Treaties Matter? Evidence from the Global M&A Market, http://dx.doi.org
    Working Papers | 2015
    Pham PK; moshirian F; zein J; liu W, 2015, Why do Foreigners Become Blockholders? Theory and Evidence, http://dx.doi.org
    Working Papers | 2014
    Zein J; Dinh H; Pham P, 2014, Technology Transfers through Mergers and Acquisitions, http://dx.doi.org
    Working Papers | 2014
    Zein J; Lu M; Pham P; Moshirian , 2014, Does Corporate Governance Matter to Institutional Shareholders, http://dx.doi.org
    Working Papers | 2014
    Zein J; Masulis , 2014, Control Rights and Corporate Governance: The Threat of Covenant Violation, http://dx.doi.org
    Working Papers | 2013
    Zein J; Pham P; Masulis R; kwan A, 2013, Value at the End of the Tunnel: Business Groups in the M&A Market, http://dx.doi.org
    Preprints |
    Dou Y; Masulis RW; Zein J, Shareholder Wealth Consequences of Insider Pledging of Company Stock as Collateral for Personal Loans, http://dx.doi.org/10.2139/ssrn.2843888
    Preprints |
    Pham PK; Suchard J-A; Zein J, Corporate Governance and Alternative Performance Measures: Evidence from Australian Firms, http://dx.doi.org/10.2139/ssrn.1015985
    Preprints |
    Masulis RW; Zein J; Pham PK, Family Business Groups Around the World: Costs and Benefits of Pyramids, http://dx.doi.org/10.2139/ssrn.1572504
    Preprints |
    Ang A; Masulis RW; Pham PK; Zein J, Internal Capital Markets in Family Business Groups During the Global Financial Crisis, http://dx.doi.org/10.2139/ssrn.2517810
    Preprints |
    Islam ME; Zein J, Inventor CEOs, http://dx.doi.org/10.2139/ssrn.3152200
    Preprints |
    Martens MPE; Zein J, Predicting Financial Volatility: High-Frequency Time-Series Forecasts Vis-a-Vis Implied Volatility, http://dx.doi.org/10.2139/ssrn.301382
    Preprints |
    Suchard J-A; Pham PK; Zein J, Corporate Governance, Cost of Capital and Performance: Evidence from Australian Firms, http://dx.doi.org/10.2139/ssrn.1015986
    Preprints |
    Masulis RW; Pham PK; Zein J, Family Business Groups around the World: Financing Advantages, Control Motivations and Organizational Choices, http://dx.doi.org/10.2139/ssrn.1363878
    Preprints |
    Deng H; Moshirian F; Pham PK; Zein J, Controlling Shareholder Identity, Firm Performance and Corporate Policies, http://dx.doi.org/10.2139/ssrn.1535705
    Preprints |
    Lu M; Moshirian F; Pham PK; Zein J, Does Corporate Governance Matter to Financial Institutional Shareholders?, http://dx.doi.org/10.2139/ssrn.1612777
    Preprints |
    Dash S; Masulis RW; Pham PK; Zein J, Certification or Expropriation? Business Groups in IPO Markets, http://dx.doi.org/10.2139/ssrn.1721815
    Preprints |
    Pham PK; Zein J; Masulis RW; Dash S, Certification or Expropriation? Business Groups in IPO Markets, http://dx.doi.org/10.2139/ssrn.2024635
    Preprints |
    Masulis RW; Pham PK; Zein J, Does Group Affiliation Facilitate Access to External Financing? Evidence from IPOS by Family Business Groups, http://dx.doi.org/10.2139/ssrn.2348053
    Preprints |
    Turner N; Zein J; Pham PK, Rush to Raise: Does Fundraising Pressure Incentivize Strategic Venture Capital Deal Pricing?, http://dx.doi.org/10.2139/ssrn.3851819
    Journal articles | 2022
    Zein J; Pham PK; Masulis R; Ang A, 2022, 'Crises as Opportunities for Growth: The Strategic Value of Business Group Affiliation', Journal of Financial and Quantitative Analysis
    Journal articles | 2021
    Islam E; Rahman L; Sen R; Zein J, 2021, 'Eyes on the Prize: Do Industry Tournament Incentives Shape the Structure of Executive Compensation?', Journal of Financial and Quantitative Analysis, http://dx.doi.org/10.1017/S0022109021000570
    Journal articles | 2020
    Islam E; Zein J, 2020, 'Inventor CEOs', Journal of Financial Economics, vol. 132, pp. 505 - 527, http://dx.doi.org/10.1016/j.jfineco.2019.06.009
    Journal articles | 2020
    Zein J; Masulis R; Pham P, 2020, 'Family Business Group Expansion through IPOs: The Role of Internal Capital Markets in Financing Growth while Preserving Control', Management Science, vol. 66, pp. 5191 - 5215, http://dx.doi.org/10.1287/mnsc.2019.3418
    Journal articles | 2018
    Dou Y; Masulis R; Zein J, 2018, 'Shareholder Wealth Consequences of Insider Pledging of Company Stock as Collateral for Personal Loans', Review of Financial Studies, vol. 32, pp. 4810 - 4854, http://dx.doi.org/10.1093/rfs/hhz034
    Journal articles | 2014
    Zein J, 2014, 'Filling the Capital Gap: The Financing Case for Crowd Sourced Equity Funding in Australia', Journal of Banking and Finance: Law and Practice
    Journal articles | 2013
    Deng H; Moshirian F; Pham PK; Zein J, 2013, 'Creating value by changing the old guard: The impact of controlling shareholder heterogeneity on firm performance and corporate policies', Journal of Financial and Quantitative Analysis, vol. 48, pp. 1781 - 1811, http://dx.doi.org/10.1017/S0022109014000039
    Journal articles | 2012
    Suchard JC; Pham KP; Zein J, 2012, 'Corporate Governance and the Cost of Capital: Evidence from Australian Companies', The Bank of America Journal of Applied Corporate Finance, vol. 24, pp. 84 - 93, http://dx.doi.org/10.1111/j.1745-6622.2012.00392.x
    Journal articles | 2011
    Masulis R; Pham P; Zein J, 2011, 'Family Business Groups around the World: Costs and Benefits of Pyramids', Review of Financial Studies, vol. 24, pp. 3556 - 3600, http://dx.doi.org/10.1093/rfs/hhr052
    Journal articles | 2006
    Li D; Moshirian F; Pham KP; Zein J, 2006, 'When Financial Institutions are Large Shareholders- The Role of Macro Corporate Governance Environments', Journal of Finance, vol. 61, pp. 2975 - 3007, http://dx.doi.org/10.1111/j.1540-6261.2006.01009.x
    Journal articles | 2004
    Martens M; Zein J, 2004, 'Predicting financial volatility: High-frequency time-series forecastsvis-a-vis implied volatility', Journal of Futures Markets, vol. 24, pp. 1005 - 1028, http://dx.doi.org/10.1002/fut.20126

Awards

  • Winner, best paper in corporate finance/ financial economics, Financial Markets and Corporate Governance Conference, Melbourne, 2021
  • UNSW Business School Award for Excellence in Higher Degree Researcher (HDR) Supervision, 2020
  • UNSW Business School Award for Research Excellence, 2020
  • Winner, best paper in corporate finance/financial economics, Financial Markets and Corporate Governance Conference, Melbourne, 2018
  • Winner, best paper in corporate governance/social responsibility, 2018 Financial Markets and Corporate Governance Conference, Melbourne.
  • Winner, best paper in corporate finance at the 2009 Financial Management Association European Meeting

Grants

  • Australian Research Council (ARC) Discovery Grant, $100,000, (2012-2013)
  • UNSW Business School Research Grants, $18,000, (2010)
  • UNSW Business School Research Grants, $13,000, (2005)

Media

  • FINS1612 Capital Markets and Institutions
  • FINS3623 Venture Capital
  • FINS5512 Financial Markets and Institutions
  • FINS5523 Alternative Asset Classes