Tong Fu, PhD in Economics


Release date：2026/02/24
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Tong Fu, PhD (in Economics)

Professor

 

Contact Details

Office: G2203

Tel: 8590 2494

Email: tongfu@cityu.edu.mo

 

Education

August 2014: PhD in economics, Hull University. 
Oct 2008 to Oct 2010: Master in economics, Liaoning University
June 2008: Bachelor in Economics, the Chongqing Jiaotong University

 

Courses to teach

  • Advanced Econometrics (for PhD students)
  • Principles of Economics (for graduate students)
  • Academic English (for graduate students)
  • Business English (for undergraduates)
  • Tourism Economics (for undergraduate)

​

Academic position

Phd Supervisor of the Australian National University

The Asian Editor of Managerial and Decision Economics (ABS 2 Star, SSCI Q1)

Associate Editor of International Review of Financial Analysis (ABS 3 Star, SSCI Q1)

Associate Editor of International Review of Economics and Finance (ABS 2 Star, SSCI Q1)

Guest Editor, Energy Economics (ABS 3 Star, SSCI Q1), “Financial Innovation in Energy Market”, https://www.sciencedirect.com/journal/energy-economics/about/call-for-papers

Guest Editor, Tourism Economics (ABS 2 Star, SSCI Q1), “Technological Revolution, Digital Economy and Tourism Economics”, https://journals.sagepub.com/page/teu/teu-calls-for-papers

Guest Editor, International Review of Economics and Finance (ABS 2 Star, SSCI Q1), “Economic and financial solutions to growth sustainability”, https://www.sciencedirect.com/special-issue/321865/economic-and-financial-solutions-to-growth-sustainability

Guest Editor, World Development (ABS 3 Star, SSCI Q1), “Behind China’s Growth Puzzle: Environmental (in)Justice and Business Strategy”, Forthcoming.

 

Project

The National Natural Science Foundation of China: 300,000 RMB.

The National Foreign Expert Project of China (G2023038003L): 400,000 RMB.

The National Foreign Expert Project of China (H20250494): 300,000 RMB.

 

Articles

Representative working papers

  1. Fu, T. et al. 2026. Bird on a wire: Managerial superstition and stock price crash risk. ***, revision and resubmission, SSCI Q1; ABS 4 Star.
  2. Fu, T. et al., 2026. Dividend Payout in Financially Distressed Firms and Probability of Bankruptcy. ***, revision and resubmission, SSCI Q1; FT50.
  3. Fu, T. et al., 2026. Tourism remolds people: evidence of altruistic behavior. ***, revision and resubmission, SSCI Q1, ABS 4 Star.
  4. Fu, T. et al., 2026. Endogenous elasticity of substitution as a catalyst for green transition: Evidence from Bangladesh, Nigeria and China. ***, revision and resubmission. SSCI Q1; ABS 3 Star.

​Journal papers (* as the corresponding author)

  1. Fu, T. and He, F., 2025. Epidemic disasters and corporate green investments. Journal of economic behavior and organization, 237, 107257. SSCI Q1; ABS 3 Star.
  2. Fu, T., Yu, S. and Tan, S., 2025. Peer effect matters for new energy vehicle adoption: evidence from consumer sentiment analysis using Chat-GPT. Energy Economics, 148，108692. SSCI Q1; ABS 3 Star.
  3. Fu, T., Qiu, Z., Yang, X and Li, Z., 2024. The impact of artificial intelligence on green technology cycles in China. Technological Forecasting and Social Change, 209，123821. SSCI Q1; ABS 3 Star.
  4. Fu, T., Li, Z., Qiu, Z., Tong, X.* and Wang, J., 2024. The Policy Gap between Finance and Economy: Evidence from China’s Green Finance Policy. Energy Economics, 134, 107550. SSCI Q1; ABS 3 Star.
  5. Fu, T., Huang, D., Feng, L.* and Tang, X., 2024. More is better? The impact of predictor choice on the INE Oil Futures Volatility Forecasting. Energy Economics, 134, 107540. SSCI Q1; ABS 3 Star.
  6. Fu, T., Yang, Y.*, Zhang, H. and Mao, Z.E., 2023. Risk culture as a blessing in tourism development: Long run effect of epidemic disasters on economic performance. Annals of Tourism Research, 103: 103682. SSCI Q1; ABS 4 Star.
  7. Hao, J., He, F* and Fu, T.*, 2023. Trade around the Clock: Revisit Volatility Spillover between Crude Oil and Equity Markets in Different Trading Sessions. Journal of Futures Markets, 43(6): 771-791. SSCI; ABS 3 Star.
  8. Fu, T., He, F.* and Lucey, B.*, 2023. Justice as efficiency: courts and the allocation of electricity in China. Journal of International Financial Market, Institutions and Money. 84: 101743. SSCI Q1; ABS 3 Star.
  9. Li, S. and Fu, T.*, 2022. Abatement technology innovation, worker productivity and firm profitability: A dynamic analysis. Energy Economics. 115: 106369. SSCI Q1; ABS 3 Star.
  10. Fu, T., Leng, J., Lin, M. and Goodell, J., 2022. External investor protection and internal corporate governance: substitutes of supplements for motivating foreign portfolio investment?. Journal of International Financial Market, Institutions and Money. 81: 101686. SSCI Q1; ABS 3 Star.
  11. Feng, L., Fu, T.* and Shi, Y., 2022. How Does News Sentiment Affect the States of Japanese Stock Return Volatility? International Review of Financial Analysis, 84:102267; SSCI Q1; ABS 3 Star.
  12. Fu, T., Chang, D.* and Miao, C*, 2022. Fuel regulation in a developing country: an interventional perspective. Energy Economics, 113:106031. SSCI Q1; ABS 3 Star.
  13. Fu, T., Yang, S.* and Jian, Z., 2022. Government support: how environmental regulation to promote firm performance in China. International Review of Financial Analysis, 83, 102135. SSCI Q1; ABS 3 Star.
  14. Fu, T., Jian, Z*. and Li, Y., 2022. How State Ownership Affects Corporate R&D: An Inverted-U-Shaped Relationship. International Journal of Finance and Economics. 2023, 28:3183–3197. SSCI, ABS 3 Star.
  15. Fu, T., Li, Y*. and Feng, D.*, 2022. Culture of Social Integration: How Extractive Colonialism Promote Contemporary Individual Income. Applied Economics Letters. 30(4): 405-409. SSCI.
  16. Fu, T. and Jian, Z*., 2021. Corruption Pays Off: How Environmental Regulations Promote Corporate Innovation in a Developing Country. Ecological Economics. 183, 106969. SSCI Q1; ABS 3 Star.
  17. He, F., Fu, T. and Lucey, B*., 2021. Geographic diversity in academic finance editorial boards-A discussion. Finance Research Letters. 43, 102006. SSCI Q1.
  18. Fu, T. and Li, Y*, 2021. Imperial Colonialism and Shadow Banking: Evidence from Northeastern China, 1898-1911. Finance Research Letters. 41, 102001. SSCI Q1.
  19. Fu, T., 2021. What provides the micro-foundation of monetary policies in the absence of mature economic institutions? International Review of Financial Analysis, 73, 101615. SSCI Q1; ABS 3 Star.
  20. Fu, T., 2021. Do economic institutions matter for trade liberalization? Evidence from China’s Open Door Policy. Research in International Business and Finance, 55, 101330. SSCI Q2.
  21. Feng, L., Fu, T.*, Shi, Y. and Wang, Z.*, 2021. Discussions on the Zero-drift GARCH model: Evidence from a Markov regime-switching extension. Finance Research Letters. 40, 101713. SSCI Q1.
  22. Fu, T., 2020. The dilemma of government intervention in a firm's financing: Evidence from China. International Review of Financial Analysis, 71, 101525. SSCI Q1; ABS 3 Star
  23. Shi, Y., Feng, L. and Fu, T.*, 2020. Markov Regime-Switching in-Mean Model with Tempered Stable Distribution. Computational Economics, 55:1275–1299. SSCI.
  24. Fu, T. and Jian, Z.*, 2020. A Developmental State: How to Allocate Electricity Efficiently in a Developing Country. Energy Policy, 138: 111231. SSCI Q1.
  25. Fu, T. and Cai, C.* and Jian, Z., 2020. The illusion of “win-win” solution: why Environmental Regulation in China Promotes Firm Performance?. Structural Change and Economic Dynamics, 52: 366-373. SSCI Q2.
  26. Fu, T. Wei, Z. and Jian, Z.*, 2020. The persistent institutional effect of liberal colonialism: evidence from China’s financial policies. Applied Economics, 52(32): 3525-3537. SSCI.
  27. Feng, L., Fu, T.*, Apergis, N. and Tao, H. and Yan, W., 2019. The role of government intervention in financial development: micro evidence from China. Accounting and Finance, 59(5): 2855–2878. SSCI Q2.
  28. Feng, L., Fu, T.* and Kutan, A., 2019. Can government intervention be both a curse and a blessing? Evidence from China's finance sector. International Review of Financial Analysis, 61, 71–81. SSCI Q1; ABS 3 Star.
  29. Feng, L., Fu, T.* and Kutan, A., 2018. Fuel intensity, access to finance and profitability: Firm-level evidence from China. Emerging Markets Finance and Trade, 54(13): 3116-3129. SSCI.
  30. Fu, T. and Jian, Z., 2018. Property rights protection, financial access and corporate R&D: evidence from a large representative sample of Chinese firms. Economic systems, 42(2): 332-345. SSCI Q2.
  31. Fu, T. and Liu, Y., 2018. Private Participation in Infrastructure and Financial Sector Development: Evidence from Developing countries. Emerging Markets Finance and Trade. 54(1): 203-21. SSCI.
  32. Fu, T., 2017. What Determines Firms’ Credit to Access in the Absence of Effective Economic Institutions: Evidence from China. Economics-the open access open-assessment e-journal. 11(2017-31): 1–27. SSCI.
  33. Fu, T., 2017. Government intervention and financial access: evidence from China. Economicky Casopis, 65(6): 534-558. SSCI.
  34. Fu, T., 2016. An incentive payment mechanism for contract adaptation: evidence from California Department of Transportation. International Journal of transport economics, 43(4): 535-562. SSCI.
  35. Fu, T., Abrokwa, K.K. and Bhattarai, K.R., 2014. Impacts of securities transaction tax adjustments in stock market in China. Advances in Economics and Business, 2(7), 249-260.

 

Referee for

Annals of Tourism Research, Energy Journal, Journal of Institutional Economics

Journal of International Financial Market, Institutions and Money, International

Review of Financial Analysis, European Journal of Finance

 



 
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