Dr. Xiaochuan Tong is an assistant teaching professor of finance in the D’Amore-McKim School of Business at Northeastern University. He also serves as the assistant director of Fintech initiative and advises the “Disrupt” student Fintech club. Tong teaches courses at the graduate level and the undergraduate level, such as Introduction to Fintech, Mergers and Acquisitions, and Corporate Finance. Prior to joining Northeastern, he taught at Lehigh University, Bradley University, UMass Boston, and King’s College London.

Tong’s research interests relate to topics of behavioral finance, particularly, the psychological and sociological approaches to finance (e.g., cognitive limits, distorted beliefs, peer effects, wisdom of crowds). One series of his research, for instance, investigates how social interactions alter retail trader decision-making, leveraging proprietary datasets and modern analytical techniques, such as textual analysis and big data analytics. Another series of his research examines the power dynamics among various market actors (e.g., corporate directors, CEOs, investors, regulators) under government ownership and the associated outcomes.

Dr. Tong practiced in the Fintech sector. He is an Associate of King’s College London (AKC) and an Associate Fellow of Higher Education Academy (AFHEA), United Kingdom. He was a recipient of the KPMG Outstanding Dissertation Award and the King’s Global Research Grant. In addition, he held a Royster Global Fellowship at the University of North Carolina at Chapel Hill, a Global Teaching and Learning Fellowship at Lehigh University, and a visiting position at Copenhagen Business School, Denmark.


  • PhD Finance, University of Massachusetts Boston
  • PhD Finance, King's College London
  • MS Economics, Shanghai University of Finance and Economics
  • BS Economics, University of Science and Technology Beijing

Selected Publications

  • Tong, X., Wang, W., & Liu, Y. (2023). Do All CEO Pay Regulations Hurt Firm Performance? Evidence from China. International Journal of Managerial Finance, forthcoming.
  • Li, H., & Tong, X. (2023). When does a female leadership advantage exist? Evidence from SOEs in China. Corporate Governance: An International Review, 1–26. https://doi.org/10.1111/corg.12510
  • Tong, X. (2022). Confidence herding under market distress. International Journal of Business and Economics, 7(2), 112-128.
  • Tong, X., & Kunkel, R. (2022). China's CEO Pay Reform: An Analysis of the Financial Impact on Central State-Owned Enterprises (CSOEs). Journal of Finance Issues, 20(1), 72-80.

Selected Presentations

  • Society for the Advancement of Socio-Economics (SASE) Annual Meeting, 2023
  • Academy of Finance (AoF) Annual Meeting, 2022
  • Financial Management Association (FMA) Annual Meeting, 2021
  • American Accounting Association (AAA) Annual Meeting, 2020

Awards and Recognition

  • Global Teaching and Learning Fellowship, Lehigh University, 2023 (Rishikesh, India)
  • Early Career Workshop Fellowship, Society for the Advancement of Socio-Economics (SASE), 2023 (Rio de Janeiro, Brazil)
  • KPMG Outstanding Dissertation Award, American Accounting Association (AAA), 2022 (USA)