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Faculty and Staff Profile

Dr. Fei Xie

Wells Fargo Professor
Associate Professor of Finance

Office: 324C Sirrine
Phone: (864)656-0774
Personal Website:

 Educational Background

Ph.D. Finance
Vanderbilt University 2005

BS Finance
Tsinghua University 1998


Professor Xie joined Clemson University in August 2012. Prior to coming to Clemson, he was a tenured professor at George Mason University in Fairfax, VA. He teaches corporate finance courses at both the undergraduate and graduate level and was nominated for the University Teaching Excellence Award at George Mason University. His research interests are in empirical corporate finance. Within this general field, his work spans the following areas: A) corporate governance, B) mergers and acquisitions, C) board of directors, D) executive compensation, E) corporate financing, F) venture capital, G) behavioral finance, and H) corporate disclosure. His research has appeared in multiple top academic journals and received significant recognition and citations.

 Research Interests

Corporate Governance, Mergers and Acquisitions, Board of Directors, Executive Compensation, Corporate Financing, Venture Capital, Behavioral Finance, Corporate Disclosure

 Research Publications


• Corporate Governance and Acquirer Returns, with Ronald W. Masulis and Cong Wang, 2007, Journal of Finance 62, 1851-1889.
o No.2 most cited article from the Journal of Finance in 2007

• Corporate Governance Transfer and Synergistic Gains from Mergers and Acquisitions, with Cong Wang, 2009, Review of Financial Studies 22, 829-858.

• Agency Problems at Dual-Class Companies, with Ronald W. Masulis and Cong Wang, 2009, Journal of Finance 64, 1697-2727.
o No.9 most cited article from the Journal of Finance in 2009

• Do Corporate Venture Capitalists Add Value to Startup Firms? Evidence from IPOs and Acquisitions of Venture-backed Companies, with Vladimir Ivanov, 2010, Financial Management 39, 129-152.
o No.1 most cited article from Financial Management in 2010

• Do Executive Stock Options Induce Excessive Risk Taking? With Zhiyong Dong and Cong Wang, 2010, Journal of Banking and Finance 34, 2518-2529.

• Globalizing the Boardroom - The Effects of Foreign Directors on Corporate Governance and Firm Performance, with Ronald Masulis and Cong Wang, 2012, Journal of Accounting and Economics 53, 527-554.

• When Firms Talk, Do Investors Listen? The Role of Trust in Stock Market Reactions to Corporate Earnings Announcements, with Mikhail Pevzner and Xiangang Xin, 2013, Journal of Financial Economics forthcoming.

• Independent Director Industry Expertise and Board Monitoring, with Cong Wang and Min Zhu, 2013, Journal of Financial and Quantitative Analysis forthcoming.


• Corporate Venture Capital, with Vladimir Ivanov, Companion to Venture Capital, Ed., Douglas J. Cumming (Wiley, 2009)

• Corporate Governance and M&As, The Art of Capital Restructuring: Creating Shareholder Value through Mergers and Acquisitions, Ed., H. Kent Baker and Halil Kiymaz (Wiley, 2011)