Lin William Cong

Cornell University - Samuel Curtis Johnson Graduate School of Management

Associate Professor of Finance

Ithaca, NY 14853

United States

http://www.linwilliamcong.com/

SCHOLARLY PAPERS

25

DOWNLOADS
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Top 829

in Total Papers Downloads

35,813

SSRN CITATIONS
Rank 2,150

SSRN RANKINGS

Top 2,150

in Total Papers Citations

396

CROSSREF CITATIONS

215

Scholarly Papers (25)

1.
Downloads 6,902 ( 1,160)
Citation 102

Blockchain Disruption and Smart Contracts

Number of pages: 48 Posted: 14 Jun 2017 Last Revised: 10 Apr 2020
Lin William Cong and Zhiguo He
Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Chicago - Finance
Downloads 6,831 (1,170)
Citation 64

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Anti-trust, Cryptocurrency, Competition, Decentralization, Distributed Ledger, FinTech, Incomplete Contracts, Collusion, Information, Repeated Games.

Blockchain Disruption and Smart Contracts

NBER Working Paper No. w24399
Number of pages: 52 Posted: 12 Mar 2018 Last Revised: 03 Mar 2021
Lin William Cong and Zhiguo He
Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Chicago - Finance
Downloads 71 (399,636)
Citation 33

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2.
Downloads 3,434 ( 3,862)
Citation 35

Tokenomics: Dynamic Adoption and Valuation

Becker Friedman Institute for Research in Economics Working Paper No. 2018-49, Fisher College of Business Working Paper No. 2018-03-015, Charles A. Dice Center Working Paper No. 2018-15, Columbia Business School Research Paper No. 18-62
Number of pages: 76 Posted: 30 Jul 2018 Last Revised: 14 Dec 2020
Lin William Cong, Ye Li and Neng Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Ohio State University and Columbia Business School - Finance and Economics
Downloads 3,430 (3,788)
Citation 28

Abstract:

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Blockchain, Carry Cost, Convenience Yield, Cryptocurrency, FinTech, Intertemporal Feedback, Means of Payment, Network Externality, Platform, Token

Tokenomics: Dynamic Adoption and Valuation

NBER Working Paper No. w27222
Number of pages: 67 Posted: 26 May 2020 Last Revised: 20 May 2021
Lin William Cong, Ye Li and Neng Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Ohio State University and Columbia Business School - Finance and Economics
Downloads 4 (779,347)
Citation 3
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3.

Rise of Factor Investing: Asset Prices, Informational Efficiency, and Security Design

29th Australasian Finance and Banking Conference 2016
Number of pages: 57 Posted: 29 Jun 2016 Last Revised: 17 Apr 2019
Lin William Cong and Douglas Xu
Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Chicago
Downloads 3,402 (3,924)
Citation 21

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Composite Securities, ETFs, Smart Beta, Index-Linked investment, Financial Innovation, Security Design, Informational Efficiency

Credit Allocation under Economic Stimulus: Evidence from China

Chicago Booth Research Paper No. 17-19
Number of pages: 58 Posted: 01 Nov 2016 Last Revised: 05 Jan 2020
Lin William Cong, Haoyu Gao, Jacopo Ponticelli and Xiaoguang Yang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Renmin University of China, Northwestern University - Kellogg School of Management and Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science
Downloads 2,559 (6,254)
Citation 6

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Misallocation, Reallocation, Banking, Growth, Firm Investment, Employment

Credit Allocation Under Economic Stimulus: Evidence from China

Global Poverty Research Lab Working Paper No. 17-108
Number of pages: 58 Posted: 19 Feb 2018 Last Revised: 07 Feb 2020
Lin William Cong, Haoyu Gao, Jacopo Ponticelli and Xiaoguang Yang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Renmin University of China, Northwestern University - Kellogg School of Management and Chinese Academy of Sciences (CAS) - Academy of Mathematics and Systems Science
Downloads 307 (121,152)
Citation 36

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credit, credit allocation, credit expansion, firms, China, capital, growth, recessions

5.
Downloads 2,221 ( 8,012)
Citation 6

Auctions of Real Options

Number of pages: 51 Posted: 26 Aug 2012 Last Revised: 16 Jun 2019
Lin William Cong
Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 1,298 (18,472)
Citation 2

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Auctions; Acquisitions; Oil and Gas; Real Options; Security Design; Timing Games.

Timing of Auctions of Real Options

Number of pages: 44 Posted: 09 Sep 2012 Last Revised: 08 Feb 2019
Lin William Cong
Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 923 (30,495)
Citation 5

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Auctions; Dynamic Game; Initiation; Optimal Stopping; Real Options; Mechanism Design; M\&A

6.

AlphaPortfolio: Direct Construction Through Reinforcement Learning and Interpretable AI

Number of pages: 69 Posted: 20 Apr 2020 Last Revised: 19 Jun 2021
Lin William Cong, Ke Tang, Jingyuan Wang and Yang Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Institute of Economics, School of Social Sciences, Tsinghua University, Beihang University (BUAA) and Beihang University (BUAA)
Downloads 1,923 (10,152)
Citation 2

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Artificial Intelligence, Distillation, LSTM, Machine Learning, Portfolio Theory, Reinforcement Learning.

7.

Crypto Wash Trading

Number of pages: 59 Posted: 02 Mar 2020 Last Revised: 11 Apr 2021
Lin William Cong, Xi Li, Ke Tang and Yang Yang
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Newcastle - Newcastle University Business School, Institute of Economics, School of Social Sciences, Tsinghua University and Institute of Economics, School of Social Sciences, Tsinghua University
Downloads 1,420 (16,438)
Citation 10

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Bitcoin; Cryptocurrency; FinTech; Forensic Finance; Fraud Detection; Regulation

8.

A Brief Introduction to Blockchain Economics

Number of pages: 41 Posted: 12 Sep 2019 Last Revised: 12 Oct 2020
Long Chen, Lin William Cong and Yizhou Xiao
Luohan Academy, Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 1,344 (17,888)
Citation 15

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Bitcoin, Blockchain, Distributed Ledger, FinTech

9.

Financial Reporting and Blockchains: Audit Pricing, Misstatements, and Regulation

Number of pages: 57 Posted: 25 Sep 2018 Last Revised: 26 Jun 2019
Sean Cao, Lin William Cong and Baozhong Yang
Georgia State University - J. Mack Robinson College of Business, Cornell University - Samuel Curtis Johnson Graduate School of Management and Georgia State University - Robinson College of Business
Downloads 1,301 (18,732)
Citation 26

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Auditor Risk and Sampling, Collaborative Auditing, Distributed Ledger Technology, FinTech, PCAOB PCAOB, RegTech, Technology Adoption, Zero-Knowledge Proof.

10.
Downloads 1,142 ( 22,788)
Citation 45

Decentralized Mining in Centralized Pools

George Mason University School of Business Research Paper No. 18-9
Number of pages: 54 Posted: 22 Mar 2018 Last Revised: 10 Dec 2019
Lin William Cong, Zhiguo He and Jiasun Li
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Chicago - Finance and George Mason University - Department of Finance
Downloads 1,129 (22,779)
Citation 17

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Arms Race, Bitcoin, Blockchain, Energy Consumption, Industrial Organization, Mining Pools, PoW, Risk-Sharing

Decentralized Mining in Centralized Pools

NBER Working Paper No. w25592
Number of pages: 55 Posted: 26 Feb 2019 Last Revised: 06 Jun 2021
Lin William Cong, Zhiguo He and Jiasun Li
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Chicago - Finance and George Mason University - Department of Finance
Downloads 13 (703,494)
Citation 25

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11.

Textual Factors: A Scalable, Interpretable, and Data-driven Approach to Analyzing Unstructured Information

Number of pages: 65 Posted: 04 Jan 2019 Last Revised: 04 Nov 2019
Lin William Cong, Tengyuan Liang and Xiao Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 1,122 (23,382)
Citation 9

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Big Data, Factor Models, Machine Learning, Text Analytics, Natural Language Processing,Topic Models, Alternative Data

Information Cascades and Threshold Implementation: Theory and An Application to Crowdfunding

University of Chicago, Becker Friedman Institute for Economics Working Paper Forthcoming
Number of pages: 96 Posted: 22 Feb 2018 Last Revised: 28 May 2021
Lin William Cong and Yizhou Xiao
Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 920 (30,668)
Citation 1

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All-or-nothing, Capital Markets, Crowd-funding, Dynamic Learning, Entrepreneurship, FinTech Platform, Information Aggregation, Information Cascade.

Information Cascades and Threshold Implementation: An Application to Crowdfunding

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2019-30
Number of pages: 96 Posted: 04 Mar 2019 Last Revised: 29 Apr 2021
Lin William Cong and Yizhou Xiao
Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 133 (263,723)
Citation 13

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All-or-nothing, Capital Markets, Crowd-funding, Dynamic Learning, Entrepreneurship, FinTech Platform, Information Aggregation, Information Cascade

13.

Dynamic Interventions and Informational Linkages

Chicago Booth Research Paper No. 17-09
Number of pages: 95 Posted: 07 Mar 2016 Last Revised: 28 May 2019
Lin William Cong, Steven R. Grenadier and Yunzhi Hu
Cornell University - Samuel Curtis Johnson Graduate School of Management, Stanford Graduate School of Business and University of North Carolina (UNC) at Chapel Hill - Finance Area
Downloads 1,034 (26,317)
Citation 7

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Coordination Failures, Government Intervention, Information Design, Financial Crisis, Global Games

Policy Uncertainty and Innovation: Evidence from IPO Interventions in China

Chicago Booth Research Paper No. 146
Number of pages: 57 Posted: 06 Feb 2017 Last Revised: 03 May 2021
Lin William Cong and Sabrina T Howell
Cornell University - Samuel Curtis Johnson Graduate School of Management and New York University (NYU) - Leonard N. Stern School of Business
Downloads 962 (28,776)
Citation 2

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Listing Suspensions, Innovation, Patent, IPO, China, Entrepreneurship

Policy Uncertainty and Innovation: Evidence from IPO Interventions in China

NBER Working Paper No. w24657
Number of pages: 72 Posted: 30 May 2018 Last Revised: 04 Jun 2018
Lin William Cong and Sabrina T Howell
Cornell University - Samuel Curtis Johnson Graduate School of Management and New York University (NYU) - Leonard N. Stern School of Business
Downloads 47 (489,217)

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15.
Downloads 883 ( 32,949)
Citation 2

Persuasion in Relationship Finance

Number of pages: 49 Posted: 15 Aug 2017 Last Revised: 01 Nov 2019
Ehsan Azarmsa and Lin William Cong
University of Chicago, Booth School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 661 (48,171)

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Bayesian Persuasion, Experimentation, Hold-up, Information Design, Relationship Lending, Security Design, Venture Capital

Persuasion in Relationship Finance

Becker Friedman Institute for Research in Economics Working Paper No. 2017-16
Number of pages: 49 Posted: 11 Oct 2017 Last Revised: 01 Nov 2019
Ehsan Azarmsa and Lin William Cong
University of Chicago, Booth School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 222 (168,527)
Citation 2

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Bayesian Persuasion, Experimentation, Hold-up, Information Design, Relationship Lending, Security Design, Venture Capital

16.

Persistent Blessings of Luck: Theory and an Application to Venture Capital

Number of pages: 54 Posted: 22 Feb 2017 Last Revised: 12 Oct 2020
Lin William Cong and Yizhou Xiao
Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 755 (40,880)
Citation 2

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Contracting, Deal Flows, Delegated Investment, Entrepreneurial Finance, Managerial Skill, Moral Hazard, Private Equity, Venture Capital

17.
Downloads 707 ( 44,641)
Citation 7

Token-based Platform Finance

Fisher College of Business Working Paper No. 2019-03-028, Charles A. Dice Center Working Paper No. 2019-28, Columbia Business School Research Paper Forthcoming
Number of pages: 64 Posted: 29 Oct 2019 Last Revised: 03 May 2021
Lin William Cong, Ye Li and Neng Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Ohio State University and Columbia Business School - Finance and Economics
Downloads 702 (44,448)
Citation 6

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Blockchain, Cryptocurrency, Dynamic Corporate Financing, Durable Goods, Gig Economy, Optimal Token Supply, Time Inconsistency, Token/Coin Offering

Token-Based Platform Finance

NBER Working Paper No. w27810
Number of pages: 64 Posted: 14 Sep 2020 Last Revised: 09 May 2021
Lin William Cong, Ye Li and Neng Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Ohio State University and Columbia Business School - Finance and Economics
Downloads 5 (771,039)
Citation 1
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18.

Price of Value and the Divergence Factor

Number of pages: 46 Posted: 01 Mar 2017 Last Revised: 09 May 2018
Lin William Cong, Nathan George and Guojun Wang
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of California, Berkeley - Fisher Center for Real Estate and Urban Economics and Tongji University
Downloads 668 (48,188)

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Factor models, asset pricing, anomalies, market efficiency, value investing

19.

Financing Entrepreneurship and Innovation in China: A Public Policy Perspective

Stanford University Graduate School of Business Research Paper No. 18-46
Number of pages: 55 Posted: 25 Sep 2018
Lin William Cong, Charles M.C. Lee, Yuanyu Qu and Tao Shen
Cornell University - Samuel Curtis Johnson Graduate School of Management, Stanford University - Graduate School of Business, University of International Business and Economics (UIBE) - School of Banking and Finance and Tsinghua University
Downloads 531 (64,461)
Citation 3

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20.

Alternative Data for FinTech and Business Intelligence

Number of pages: 32 Posted: 11 Feb 2020
Lin William Cong, Beibei Li and Tony Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Carnegie Mellon University - H. John Heinz III School of Public Policy and Management and University of Illinois Urbana Champaign
Downloads 521 (66,040)
Citation 1

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Alternative Data, Digital Economy, FinTech, Textual Analysis, Internet-of-Things

21.

Analyzing Textual Information at Scale

Number of pages: 34 Posted: 17 Sep 2019 Last Revised: 09 Dec 2019
Lin William Cong, Tengyuan Liang, Baozhong Yang and Xiao Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Chicago - Booth School of Business, Georgia State University - Robinson College of Business and University of Chicago - Booth School of Business
Downloads 479 (73,301)
Citation 3

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Big Data, Machine Learning, Text-based Analysis, Topic Models, Unstructured Data, Word Embedding

22.

Knowledge Accumulation, Privacy, and Growth in a Data Economy

Number of pages: 52 Posted: 15 Oct 2019 Last Revised: 26 Oct 2020
Lin William Cong, Danxia Xie and Longtian Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Tsinghua University - Institute of Economics and Central University of Finance and Economics
Downloads 414 (87,150)
Citation 1

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Big Data, Data Ownership, Endogenous Growth, Innovation, Non-rivalry, Privacy Regulation

23.

Categories and Functions of Crypto-Tokens

Number of pages: 26 Posted: 29 Mar 2021 Last Revised: 29 Apr 2021
Lin William Cong and Yizhou Xiao
Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 345 (107,332)

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Cryptocurrency; Blockchain; DeFi; ICOs

24.

Asymmetric Cross-side Network Effects on Financial Platforms´╝ÜTheory and Evidence from Marketplace Lending

Number of pages: 68 Posted: 04 Oct 2019 Last Revised: 15 Mar 2021
Lin William Cong, Ke Tang, Danxia Xie and Qi Miao
Cornell University - Samuel Curtis Johnson Graduate School of Management, Institute of Economics, School of Social Sciences, Tsinghua University, Tsinghua University - Institute of Economics and The Nielsen Company
Downloads 337 (110,221)
Citation 1

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Network Externality; P2P Lending; Platforms; FinTech

25.

Deep Sequence Modeling: Development and Applications in Asset Pricing

The Journal of Financial Data Science Winter 2021, jfds.2020.1.053; DOI: https://doi.org/10.3905/jfds.2020.1.053
Posted: 12 Aug 2020
Lin William Cong, Ke Tang, Jingyuan Wang and Yang Zhang
Cornell University - Samuel Curtis Johnson Graduate School of Management, Institute of Economics, School of Social Sciences, Tsinghua University, Beihang University (BUAA) and Beihang University (BUAA)

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Artificial Intelligence, Asset Pricing, Machine Learning, Risk Premia, Time Series