Yili Lian’s paper recognized by global publishing group

Yili Lian, assistant professor of business at Penn State Worthington Scranton, has published a paper that was recognized as a “Highly Commended Paper” in the 2017 Emerald Literati Network Awards for Excellence.

The paper, “Do bank lending relationships affect corporate cash policy?” was published in the Review of Accounting and Finance. Lian’s co-authors were Huajing Hu, department of finance and economics, Adelphi University, Garden City, New York, and Chih-Huei Su, Cameron School of Business, University of St. Thomas, Houston, Texas.

The authors found that firms with lending relationships maintain a lower level of cash holdings and save less cash out of cash flow. Furthermore, the effect of lending relationships is more profound for firms with high cash flow.

The results suggest that prior lending relations alleviate information asymmetry, lower the cost of capital and therefore affect firms’ propensity to retain cash and maintain a high level of cash holdings.

To read the full text of the paper, go to: http://www.emeraldinsight.com/doi/full/10.1108/RAF-11-2015-0167

Lian has been teaching at Penn State Worthington Scranton since 2013. Prior to joining the University, he was an adjunct professor and doctoral student at Baruch College, City University of New York, where he attained his doctorate in finance.

The Emerald Literati Awards, which include the Awards for Excellence and Citations of Excellence, are now in their 24th year and were established to celebrate and reward the outstanding contributions of authors and reviewers to scholarly research.

Emerald is a member of the Globally Responsible Leadership Initiative, and actively supports research and education worldwide with a number of awards and research grants.

Awards criteria based on six areas: internationality, diversity, support for scholarly research, encouragement of applied research (impact), commitment to high quality scholarship, and a desire to ensure reader, author and customer experience is the best it can be.

Last Updated July 28, 2017