Dr. SHEN Jianfu, Jeff
BSc, MSc, PhD, FRM, CFA
Assistant Professor
Tel.: (852) 2766 5828
E-mail address : jeff.jf.shen@polyu.edu.hk
 
  Dr Shen completed his PhD degree in Real Estate Finance at The University of Hong Kong. He obtained a bachelor degree in Land Management and master degree in Finance from Renmin University of China in Beijing. Prior to joining the Department of Building and Real Estate in June 2019, Dr Shen was a visiting scholar at the University of Connecticut, and worked at the School of Accounting & Finance, The Hong Kong Polytechnic University, and Department of Economics & Finance, The Hang Seng University of Hong Kong. He is also a certificated FRM (Financial Risk Manager) and CFA (Chartered Financial Analyst) charterholder. His research interests lie in real estate, project finance, fundamental analysis, institutional investment, credit rating, and China‚Äôs capital market.
Teaching
 
Main areas
Real Estate Finance
Project Finance
Credit Rating
Asset Pricing
Research and Scholarly Activities
 
Research
Interests
REITs, real estate development, land auction
Project finance, infrastructure investment
Credit rating agencies
Financial statement analysis, institutional investor
 
Current
Research
Projects
Anomalies and institutional investments in the REITs
Issuer-pay vs. investor-pay credit rating agencies
Anomalies and institutional investment
Risk management and agency problem in the project finance
Environmental, social and governance performance
Selected Recent Publication List
 

Publications in Refereed Journals

  Real Estate Finance
1 Shen, J., Pretorius, F., and Li, X. (2019). Does joint bidding reduce competitions? Evidence from Hong Kong land auctions. Journal of Real Estate Finance & Economics, 58(1), 111-132.
2 Shen, J., Pretorius, F., and Chau, K.W. (2018). Land auctions with budget constraints. Journal of Real Estate Finance & Economics, 56(3), 443-471.
3 Shen, J., and Yin, X. (2016). Credit expansion, state ownership and capital structure of Chinese real estate companies. Journal of Property Investment & Finance, 34(3), 263-275.
4 Shen, J., Pretorius, F., and LA Grange, A. (2014). The strategies of real estate companies in Hong Kong: The case of Hongkong Land Holdings Ltd. Chapter for the book The Handbook in East Asia Entrepreneurship.
5 Shen, J., and Pretorius, F. (2013). Binomial option pricing models for real estate development. Journal of Property Investment & Finance, 31(5), 418-440.
  Finance
6 Ng, A. and Shen, J. (2019). Quality investing strategy in Asian stock markets, Accounting & Finance, forthcoming.
7 Wojewodzki, M., Poon, W.P.H, and Shen, J. (2018). The role of credit ratings on capital structure and its speed of adjustment: an international study. European Journal of Finance, 24(9), 735-760.
8 Poon, W.P.H, Shen, J., and Burnett, J. (2017). An empirical study of cross-border channeling of sovereign risk to bank credit risk. Financial Review, 52(2), 281-302.
9 Shen, J., Firth, M. A, and Poon, W. P.H (2016). Credit expansion, corporate finance and overinvestment: Recent evidence from China. Pacific-Basin Finance Journal, 39, 16-27.
10 Ng, A. and Shen, J. (2016). Screen winners from losers using simple fundamental analysis in the Pacific-Basin stock markets. Pacific-Basin Finance Journal, 39, 159-177.
11 Deng, Q., Shen, J., and Chen, R. (2011). Regional financial development scale, structure, efficiency and economic growth: a dynamic analysis, Management Science and Engineering, 5(3), 96-101.

Updated in March 2019