Financial Technology
Emerging technologies, digital assets, market narratives, disclosure hype, and the valuation consequences of technological attention.
Dr Pengfei Gao
Lecturer (Assistant Professor) in Finance
School of Management, Swansea University
Contact
School of Management, Bay Campus, Fabian Way, Crymlyn Burrows, Swansea, SA1 8EN, Wales, UK
pengfei.gao@swansea.ac.uk
pengfei.gao@swansea.ac.uk
01
About
Dr Pengfei Gao is a Lecturer in Finance at the School of Management, Swansea University. Before joining Swansea, he was a University Teacher in Accounting and Finance at Loughborough Business School.
He received his PhD in Accounting and Finance from Cardiff Business School in 2024, following an MSc in Social Science Research Methods and an MSc in Accounting and Finance from Cardiff Business School.
His research focuses on FinTech, corporate disclosure, corporate innovation, and sustainable finance, with a particular interest in textual analysis, machine learning, and the narratives behind financial figures and corporate behaviour.
- FinTech
- Corporate Disclosure
- Corporate Innovation
- Sustainable Finance
- Supply Chain Finance
- Machine Learning
02
Research Architecture
Corporate Information
Textual disclosure, audit penalties, local-government resonance, and the informational channels that shape firm risk and investor response.
Sustainable Finance
Corporate green innovation, carbon emissions, global value chains, ESG performance, and the financial incentives behind sustainability decisions.
03
Publications
Global Value Chain Participation and Firm-Level Carbon Emissions: Evidence from China
This paper examines firm-level participation in global value chains and carbon emissions using Chinese listed-firm data.
Staying or Switching: How Companies React to Audit Firm Penalties
This paper studies client-company responses to penalized audit firms through financing, reputation, and relationship channels.
Going Global, Going Green: How Outward FDI Enhances Corporate Green Innovation
This paper links outward foreign direct investment to firms' green innovation through reverse technology spillovers and environmental regulation.
Administrative Monopoly and State-Owned Enterprise Innovation: Evidence from the Fair Competition Review System in China
This paper uses China's Fair Competition Review System to examine the innovation effects of administrative monopoly.
State-Owned Shareholders' Participation and Environmental, Social, and Governance Performance of Private Firms: Evidence from China
This paper investigates how state-owned shareholder participation affects ESG performance and firm value among private firms.
04
s
Selected Working Papers
Financial Technophilia: Markets and Corporate Disclosure of Emerging Technologies
Presented at WPGRC 2022, BFWG 2023, Tri-Uni Annual Conference (Xiamen University) 2023, 2nd Cardiff FinTech Conference 2023, CER FinTech Symposium 2024, ISAFE 2025, EFMA 2025; research seminars at Cardiff University, University of Birmingham, Queen Mary University of London, University of Bath, Loughborough Business School, Newcastle University, and University of Macau.
Does a Firm's Understanding of Local Government Policy Lead to Reducing Investment Inefficiency?
Tech Frenzy Fallout: When Hype Hits Hard and Stocks Crash
Presented at Tri-Uni Annual Conference (Newcastle University) 2022, 2nd FinTech Conference 2023, and EAA 2023.
Great Trees Are Good for Shade: Firm Risk and Values Resonance with Local Governments
Presented at Cardiff Business School Seminar, BAFA 2023 Annual Conference, BFWG Annual Conference, and Loughborough Business School PGR Workshop.
Unlocking Risk Management Potential: Digital Transformation and Derivatives Usage
Presented at BFWG Annual Conference 2025.
Shareholder Style Diversity and ESG "Doing More Than Saying" Strategy
Presented at 2025 SWAG Conference, Swansea University, BAFA 2026 Annual Conference, Leeds University Business School, EAA 2026 Annual Conference, BFWG 2026 Annual Conference.
From Center to Global: The Role of Supply Chain Networks in Enhancing Export Potential
Survive the Peril or Cook the Books? Climate Physical Risk and Corporate Financial Misconduct
From Regulation to Upgrade: How Restricting Informal Employment Enhances Firm Efficiency
Presented at BAFA 2026 Annual Conference.
Signaling Nature: How Patient Capital Drives Biodiversity Disclosure
Presented at BAFA 2026 Annual Conference and EAA 2026 Annual Conference.
Pollution Havens within the Firm: Business Groups under Intelligent Environmental Regulation
Political Protection Lost: Anti-corruption Governance and Corporate Litigation Risk
05
Teaching
Swansea University
Module Leader, Introduction to FinTech, UG level
Module Leader, Digital Assets, UG level
Loughborough Business School
Module Leader, Portfolio Management, PG level
Module Leader, Derivatives and Risk Management, PG level
Cardiff Business School
Tutor, Research Method (Stata Workshop), PG level
Tutor, Accounting and Finance in Context, PG level
Tutor, Applied Stats and Maths in ECON and Business, UG level
06
Biography
Education
- PhD in Accounting and Finance, Cardiff Business School, Cardiff University, 2019.10-2024.3
- MSc in Social Science Research Methods, Cardiff University, 2018.10-2019.9
- MSc in Accounting and Finance, Cardiff Business School, Cardiff University, 2017.10-2018.9
- BSc in Financial Management, Shandong Technology and Business University, 2012.9-2016.6
Professional Memberships
- Associate Fellow of the Higher Education Academy (HEA)
- Member of the British Accounting and Finance Association (BAFA)
- Member of the Behavioural Finance Working Group (BFWG)
- Member of the European Accounting Association (EAA)
Academic Activities
- Editorial Assistant, Global Finance Journal, 2026-present
- Reviewer for International Review of Financial Analysis, International Journal of Finance and Economics, Journal of Accounting Literature, Journal of Business Ethics, British Accounting Review, Journal of Evolutionary Economics, European Journal of Finance, Finance Research Letters, Journal of Chinese Economic and Business Studies, Research in International Business and Finance, and Sustainable Energy Research.