Dr Pengfei Gao

Lecturer in Finance

Accounting and Finance

+44 (0) 1792 295074

pengfei.gao@swansea.ac.uk

Office 216 - 216
Second Floor
School of Management
Bay Campus

Available For Postgraduate Supervision

Research Links

https://orcid.org/0009-0008-7818-1231

Google Scholar

About

Dr Pengfei Gao is a Lecturer in Finance at the School of Management, Swansea University, a position he has held since May 2025. He earned his PhD in Accounting and Finance from Cardiff Business School in 2024. He also holds an MSc in Social Science Research Methods (2020) and an MSc in Accounting and Finance (2019), both from Cardiff Business School.

Pengfei's research interests mainly focus on FinTech, corporate disclosure, corporate innovation, and sustainable finance. He is particularly interested in textual analysis and machine learning. His work explores how large-scale textual data can be used to uncover the narratives behind financial figures and corporate behaviour. He serves as the editorial assistant for the Global Finance Journal and acts as a reviewer for multiple accounting and finance journals.

He previously held positions at Loughborough Business School, where he taught postgraduate modules including portfolio management and derivatives.

Pengfei welcomes research proposals from exceptional and motivated PhD candidates, particularly in areas related to FinTech, ESG, and data-driven corporate finance.

Personal Web

Areas Of Expertise

FinTech
Corporate Disclosure
Corporate Innovation
Sustainable Finance
Supply Chain Finance
Textual Analysis

Publications

Research Highlights

Ge, H., Zhang, X., Gao, P., & Li, M. (2026). Global value chain participation and firm-level carbon emissions: Evidence from China. Structural Change and Economic Dynamics, 77, 313-326.
https://doi.org/10.1016/j.strueco.2026.02.001, SU Repository: https://cronfa.swan.ac.uk/Record/cronfa71374
Xu, R., Liao, G., & Gao, P. (n.d.) Firm Response to an Employment Regulation: Evidence from a Natural Experiment in China. In Finance and Economics PCR Conference, Renmin University of China, Beijing, China (2025)
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70720
Ye, R., Jiang, J., Gao, P., You, K., & Chen, H. (n.d.) Financial Derivative Usage, Corporate Digital Transformation and Firm Value: Evidence from China. In BFWG Annual Conference 2025
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70715
Gao, P., Eshraghi, A., Kalak, I., & Xiao, J. (n.d.) Tech Frenzy Fallout: When Hype Hits Hard and Stocks Crash. In Tri-Uni Annual Conference (Newcastle University) 2022, 2nd FinTech Conference 2023, EAA 2023
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70713
Chen, Z., Feng, H., Gao, P., Hoque, H., & Li, M. (n.d.) Firm Risk and Values Resonance with Local Governments. In Cardiff Business School Seminar, BAFA 2023 Annual Conference, BFWG Annual Conference, Loughborough Business School PGR Workshop
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70710

All Research

Journal Articles

Ge, H., Zhang, X., Gao, P., & Li, M. (2026). Global value chain participation and firm-level carbon emissions: Evidence from China. Structural Change and Economic Dynamics, 77, 313-326.
https://doi.org/10.1016/j.strueco.2026.02.001, SU Repository: https://cronfa.swan.ac.uk/Record/cronfa71374
Zhang, K., Luo, D., & Gao, P. (2025). Staying or switching: How companies react to audit firm penalties. International Review of Economics & Finance, 104, 104639
https://doi.org/10.1016/j.iref.2025.104639, SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70462
Ge, H., Chen, Z., Gao, P., & Wang, C. (2025). Going global, going green: How outward FDI enhances corporate green innovation. Finance Research Letters, 82, 107554
https://doi.org/10.1016/j.frl.2025.107554, SU Repository: https://cronfa.swan.ac.uk/Record/cronfa69572
Yang, X., Zhang, K., Liao, G., & Gao, P. (2024). Administrative monopoly and state-owned enterprise innovation: Evidence from the fair competition review system in China. International Review of Financial Analysis, 95, 103463
https://doi.org/10.1016/j.irfa.2024.103463, SU Repository: https://cronfa.swan.ac.uk/Record/cronfa69571
Yang, X., Zhang, K., Gao, P., & Yang, Z. (2024). State-owned shareholders’ participation and environmental, social, and governance performance of private firms: evidence from China. Applied Economics, 57(26), 3503-3524.
https://doi.org/10.1080/00036846.2024.2337797, SU Repository: https://cronfa.swan.ac.uk/Record/cronfa69570

Conference Contributions

Xu, R., Liao, G., & Gao, P. (n.d.) Firm Response to an Employment Regulation: Evidence from a Natural Experiment in China. In Finance and Economics PCR Conference, Renmin University of China, Beijing, China (2025)
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70720
Ye, R., Jiang, J., Gao, P., You, K., & Chen, H. (n.d.) Financial Derivative Usage, Corporate Digital Transformation and Firm Value: Evidence from China. In BFWG Annual Conference 2025
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70715
Gao, P., Eshraghi, A., Kalak, I., & Xiao, J. (n.d.) Tech Frenzy Fallout: When Hype Hits Hard and Stocks Crash. In Tri-Uni Annual Conference (Newcastle University) 2022, 2nd FinTech Conference 2023, EAA 2023
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70713
Chen, Z., Feng, H., Gao, P., Hoque, H., & Li, M. (n.d.) Firm Risk and Values Resonance with Local Governments. In Cardiff Business School Seminar, BAFA 2023 Annual Conference, BFWG Annual Conference, Loughborough Business School PGR Workshop
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70710
Gao, P., Arman Eshraghi, ., Kalak, I., & Xiao, J. (n.d.) Financial Technophilia: Markets and Corporate Disclosure of Emerging Technologies. In 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.
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70709
Chen, Z., Liu, F., Wang, C., & Gao, P. (n.d.) Shareholder Style Diversity and ESG “Doing More Than Saying” Strategy. In 2025 SWAG Conference, Swansea University, UK
SU Repository: https://cronfa.swan.ac.uk/Record/cronfa70707

Taught Modules

MN-2072 Digital Assets

The Digital Assets module delves into the rapidly growing and evolving world of digital assets, including cryptocurrencies, non-fungible tokens (NFTs), and tokenized securities. Students will gain a deep understanding of the underlying technologies, market dynamics, and regulatory frameworks governing digital assets. This module aims to equip students with the knowledge and skills needed to succeed in careers related to digital assets and their management.
MN-2073 Introduction to FinTech

This module provides a comprehensive introduction to the world of Fintech and its regulation. Students will gain an understanding of the key concepts, technologies, and players in the Fintech ecosystem. The module also covers the regulatory landscape and the challenges faced by the industry. This module is designed to equip students with the knowledge and skills to navigate the fast-paced world of Fintech.

Dr Pengfei Gao

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