Dr John Fan Zhang

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Research fellow

Phone: +649 921 9999 ext 8944

Email: fanzhang@aut.ac.nz

Physical Address:

42 Wakefield Street
Faculty of Business, Economics and Law
Auckland University of Technology
WF Building
Auckland 1142


Doctor of Philosophy (PhD) in Finance
Master of Business (Graduate with Honours, First Class)
Master of Finance (Graduate with Distinction)
Bachelor of Management (Top 5 graduates)

Memberships and Affiliations:

CFA society New Zealand
American Finance Association (AFA)
Financial Management Association International (FMA)
Accounting and Finance Association of Australia and New Zealand (AFAANZ)
Securities Association of China


John Fan Zhang obtained his PhD degree at Auckland University of Technology (AUT), with the thesis title “The financial impact of cultural diversity on multinational firms”, under supervision by Professor Bart Frijns and Professor Alireza Tourani-Rad. The detail of John’s research can be found here. Prior to his doctoral research, John Fan Zhang has worked in finance and investment industry. His role covered investment analysis and corporate financial strategy. John is a CFA charter-holder. John is also a CFA institution research challenge grader since 2013.

Teaching Areas:

Introduction to finance

Research Areas:

Culture and finance
Foreign listing

Research Summary:

John investigates the influence of national cultural diversity on multinational entrepreneurs (MNEs). Culture is a significant influencing factor on financial aspects of MNEs. It not only indirectly affects MNEs through formal institutions such as legal and political frameworks, but also directly governs daily routine of MNEs through individual values, norms, and preferences. Nowadays, MNEs play an increasingly large and important role in the economic development of global markets. MNEs dynamically establish operations in different countries and economies, where national culture may vary from one another. In this case, MNEs need to develop management and financial practices for each subsidiary in accordance with the national culture in which the subsidiary is operating, this would unavoidably influence financial decisions, performance, and value of the MNEs. Understanding the effect of cultural diversity on a firm is not only important to academic researchers but also matters to managers and investors.

Current Research Projects:

  1. Cultural diversity and the value of multinational firms
  2. Cultural diversity and capital structures of multinational firms
  3. The effect of cultural diversity on stock liquidity of multinational companies
  4. Cultural diversity, intangible investment and innovation of multinational firms
  5. The stock price performance of cross-listings between developed and emerging markets