- Ph.D., University of Illinois at Urbana-Champaign
- M.A., Yonsei University
- M.E., Beijing Normal University
- Disclosures, corporate finance, and equity investing
- Understanding corporate disclosures for investor and corporate decision-making
- Emerging technologies for unstructured corporate disclosures (Neural networks for text and image data and blockchains)
- Applications of AI and Fintech in investment research
Dr. Cao’s research examines the usefulness of firm information and disclosures for investor and corporate decision-making. This research topic is a crucial component of disclosure research in the field of accounting and corporate finance research in the field of finance. A unifying theme in his research is to protect investors’ wealth and increase firms’ operational efficiency and market value using large-scale data analytics of corporate disclosures. Because most corporate accounting and disclosure data are unstructured and high-dimensional, like text and images, emerging technologies such as deep learning and artificial intelligence are crucial for quantifying useful information from this unstructured corporate data using unleashed computational power.
His research has been published in premier journals across finance, accounting, and computer science such as Journal of Financial Economics, Journal of Accounting Research, The Accounting Review, Contemporary Accounting Research, and IEEE Computer. His work has been presented at major research universities, including Stanford University, Cornell University, New York University, University of Virginia, University of Minnesota, and Pennsylvania State University, as well as at national policy-making or advisory agencies such as the SEC and NBER. His research has also received interest and workshop invitations from leading financial and AI firms such as State Street Boston headquarters, Grant Thornton executives, Ant Financial, Baidu, DataYes, and JD.com.
Dr. Cao co-chaired the 2020 GSU-RFS conference on Fintech and Machine Learning. The conference was sponsored by the Review of Financial Studies (dual submission) and Georgia State University. The conference attracts an average of 150 high-quality submissions annually in the area of emerging technologies from preeminent scholars in both finance and accounting.
Dr. Cao’s passion for research carries over into his teaching. He is committed to giving students access to the most cutting-edge learning material to help them achieve career success. He was ranked in the top 10 percent for outstanding teaching university-wide at University of Illinois at Urbana-Champaign. At GSU, he teaches Ph.D. seminars in capital markets research and undergraduate courses in financial accounting with a strong data-analytics component. Dr. Cao has been invited by multiple major research universities to teach short-term doctoral seminars on emerging technologies in finance and accounting.