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
Rank 884

SSRN RANKINGS

Top 884

in Total Papers Downloads

33,367

SSRN CITATIONS
Rank 2,424

SSRN RANKINGS

Top 2,424

in Total Papers Citations

322

CROSSREF CITATIONS

213

Scholarly Papers (25)

1.
Downloads 6,761 ( 1,139)
Citation 91

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 6,706 (1,145)
Citation 59

Abstract:

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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 55 (442,561)
Citation 27

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2.
Downloads 3,365 ( 3,776)
Citation 26

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 University
Downloads 3,361 (3,706)
Citation 25

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: 12 Mar 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 (755,933)
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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 3,276 (3,959)
Citation 22

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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 2,531 (6,040)
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 299 (120,399)
Citation 32

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

5.
Downloads 2,203 ( 7,753)
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 1,288 (17,850)
Citation 2

Abstract:

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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 915 (29,635)
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: 67 Posted: 20 Apr 2020 Last Revised: 04 Apr 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 1,555 (13,585)
Citation 2

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

7.

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 1,213 (19,888)
Citation 15

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Bitcoin, Blockchain, Distributed Ledger, FinTech

8.

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 1,149 (21,617)
Citation 24

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

9.
Downloads 1,095 ( 23,193)
Citation 34

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 1,087 (23,044)
Citation 17

Abstract:

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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: 05 Mar 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 8 (722,756)
Citation 23

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10.

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 985 (27,039)
Citation 7

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

Information Cascades and Threshold Implementation: 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: 05 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 856 (32,631)
Citation 1

Abstract:

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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: 05 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 110 (293,751)
Citation 12

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

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: 05 Oct 2020
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 919 (29,482)
Citation 1

Abstract:

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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 (474,832)

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13.

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 965 (27,869)
Citation 6

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

14.

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 962 (28,145)
Citation 10

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

15.
Downloads 874 ( 32,078)
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 655 (46,867)

Abstract:

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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 219 (165,081)
Citation 2

Abstract:

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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 687 (44,552)
Citation 3

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

17.

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 628 (50,134)

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

18.
Downloads 592 ( 54,175)
Citation 5

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: 50 Posted: 29 Oct 2019 Last Revised: 04 Sep 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 587 (54,105)
Citation 6

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

Token-Based Platform Finance

NBER Working Paper No. w27810
Number of pages: 50 Posted: 14 Sep 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 5 (747,386)
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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 470 (72,260)
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 416 (83,573)
Citation 1

Abstract:

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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 403 (86,674)
Citation 2

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

22.

Deep Sequence Modeling: Development and Applications in Asset Pricing

Number of pages: 22 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)
Downloads 317 (113,729)

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

23.

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 Tsinghua University
Downloads 286 (128,243)
Citation 1

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

24.

Asymmetric Cross-side Network Effects on Financial Platforms:Theory 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 272 (134,188)

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Network Externality; P2P Lending; Platforms; FinTech

25.

Categories and Functions of Crypto-Tokens

Number of pages: 26 Posted: 29 Mar 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 131 (263,383)

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Cryptocurrency; Blockchain; DeFi;ICOs.