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Chong Wang

Financial Management

Phone: (831) 656-2665
  • PhD - Iowa State University 1998
    Major: Economics
NPS Experience
  • 2023 - current: Professor
  • 2014 - 2023: Associate Professor
  • 2007 - 2014: Assistant Professor
Other Experience
  • Senior Associate, Financial Advisory Service, PricewaterhouseCoopers LLP
  • Visiting Assistant Professor, Long Island University
Research Interests
Financial Accounting
Defense-Related Management Accounting
Corporate Finance and Economics
Teaching Interests
Corporate Finance
Financial Accounting
Management Accounting


  • 2021 - The Louis D. Liskin Award for Teaching Excellence, Naval Postgraduate School
  • 2016 - GSBPP Research Excellence Award in Disciplinary Research, Graduate School of Business & Public Policy, NPS
  • 2012 - Best Paper Award (3rd Place), Fifth International Public Procurement Conference, Seattle, WA.
  • 2011 - Best Paper Award on Global Financial Markets, The Chinese Finance Association (TCFA) Annual Meeting, New York, NY
  • 1994 - Premium for Academic Excellence (PACE) Award, Iowa State University

Boards, Memberships, & Certifications

Professional Memberships
  • Member, American Accounting Association
  • Member, American Economic Association
  • 2015 Associate Editor, Associate Editor of Asian Journal of Business Research
  • 2012 Member, Editorial board of Asian Journal of Business Research

Scholarly Work

  • Journal Articles
  • Lou, Z., Wang, C., Liu, Y., & Xu, J, It takes two to tango: Impact of salary co-movement between top executives and ordinary employees on corporate innovation. Finance Research Letters.
  • Shao, J., Lou, Z., Wang, C., Mao, J., & Ye, A, (2022). The impact of artificial intelligence (AI) on financing constraints of non-SOE firms in emerging markets. International Journal of Emerging Markets, 4(17), 930-944.
  • Wang, C., Gates, W., & Simerman, P, (2022). Menu of contracts: a new approach to improving navy retention bonuses. Journal of Defense Resources Management, 1(13), 5-31.
  • Gan, L., & Wang, C, (2021). Option‐for‐guarantee swaps and flexible investment opportunities. International Review of Finance, 4(21), 1286-1301.
  • Wang, C., & Demers, E, (2020). Career Concerns and Earnings Management. Journal of Business Accounting and Finance Perspectives, 1(3), 1-11.
  • Wang, C., Lin, X., Wang, N., & Yang, J, (2018). Investment, Tobin's q, and Interest Rates. Journal of Financial Economics, 3(130), 620-640.
  • Wang, C., Shao, L., & Zhang, C, (2017). The Potential Misinterpretation Problem of Residual Based Models Due to Industry Misclassification. Asian Journal of Business Research, 1(7), 1-26.
  • Baginski, S., Demers, E., Wang, C., & Yu, J, (2016). Contemporaneous verification of language: evidence from management earnings forecasts. Review of Accounting Studies, 1(21), 165-197.
  • Wang, C., Wang, N., & Yang, J, (2016). Optimal consumption and savings with stochastic income and recursive utility. Journal of Economic Theory, (165), 292-331.
  • Wang, C, (2014). Political Connections of the Boards of Directors and Department of Defense contractors’ Excessive Profits. Journal of Public Procurement, 1(14), 96-122.
  • Wang, C., & San Miguel, J, (2013). Are cost-plus defense contracts (justifiably) out of favor? Journal of Governmental & Nonprofit Accounting, 1(2), 1-15.
  • Wang, C., Hsu, P., & Wu, C, (2013). Banking systems, innovations, intellectual property protections, and financial markets: evidence from China. Journal of Business Research, 12(66), 2390-2396.
  • Wang, C, (2013). On the scientific status of the conscious capitalism theory. California Management Review, 3(55), 97-106.
  • Wang, C, (2013). Conscious capitalism firms: do they behave as their proponents say? California Management Review, 3(55), 60-86.
  • Wang, C., Wang, N., & Yang, J, (2012). A unified model of entrepreneurship dynamics. Journal of Financial Economics, 1(106), 1-23.
  • Wang, C., & San Miguel, J, (2012). The excessive profits of defense contractors: Evidence and determinants. Journal of Public Procurement, 3(12), 386-406.
  • Wang, C., Euske, K., & San Miguel, J, (2012). How does the cost performance of defense contracts vary among services and contractors? Evidence from Major Defense Acquisition Programs (MDAP) Advances in Management Accounting, (20), 75-100.
  • Wang, C, (2010). Does the monitoring role of buyout houses improve discretionary accruals quality? Accounting and Finance, 4(50), 993-1012.