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Professor Pengguo Wang

Professor Pengguo Wang

Professor of Finance and Accounting, Director of Postgraduate Research Students (Finance)

2129

+44 (0) 1392 722129

F25
Xfi Building, University of Exeter, Rennes Drive, Exeter, EX4 4ST, UK

Pengguo Wang received degrees in Mathematics (BSc) and Operational Research (MSc) in China. He then obtained a PhD in Finance at Strathclyde. Prior to joining the University of Exeter Business School, he was a faculty member at Imperial College London and Bristol University. He worked as an ESRC Research Fellow in a joint program in Lancaster Management School and Manchester Business School.

Pengguo’s research, teaching and consulting interests are in the intersection of finance and accounting and include equity valuation, market based accounting research, asset pricing and risk management. His research is supported by KPMG, ACCA, and The Institute for Quantitative Investment Research (INQUIRE-UK) grants. 

Nationality: Chinese

Qualifications

BSc (Math), MSc (Operational Research), PhD (Finance)   

Research clusters

Research interests

  • Equity Risk Premium
  • Empirical Corporate Finance
  • Risk Factors
  • Firm Valuation Models
  • Option Pricing
  • Equity Trading Strategies.

Research projects

Grants

  • £285k, ESRC, Cost of Capital and Asset Pricing in the UK (with A. Gregory, C. Dargenidou, R.Tharyan).

Key publications | Publications by category | Publications by year

Publications by category


Journal articles

Wang P, Ashton D (2015). Conservatism in residual income models: theory and supporting evidence. Accounting and Business Research, Volume 45(Issue 3), 387-410. Abstract.  Full text.
Wang P (2014). On the relevance of earnings components in valuation and forecasting. Review of Quantitative Finance and Accounting, 42(3), 399-413. Abstract.  Full text.
Wang P, Huang W (2014). The implied growth rates and country risk premium: evidence from Chinese stock markets. Review of Quantitative Finance and Accounting, 45(3), 641-663. Abstract.  Full text.
Ashton D, Wang P (2013). Terminal valuations, growth rates and the implied cost of capital. Review of Accounting Studies, 18(1), 261-290. Abstract.  Full text.
Wang P (2013). The role of disaggregation of earnings in stock valuation and earnings forecasting. Accounting and Business Research, 43(5), 530-557. Abstract.  Full text.
Ashton D, Wang P (2013). Valuation Weights, Linear Dynamics and Accounting Conservatism: an Empirical Analysis. Journal of Business Finance and Accounting, 40(1-2), 1-25. Abstract.  Full text.
Wang P, Ashton D, Peasnell K (2011). Residual Income Valuation Models and Inflation. European Accounting Review, 20(3), 459-483. Full text.
Pope PF, Wang P (2005). Earnings Components, Accounting Bias and Equity Valuation. Review of Accounting Studies, 10(4), 387-407.
Cooke TE, Ashton D, Tippett MJ, Wang P (2004). Linear information dynamics, aggregation, dividends and 'dirty surplus' accounting. Accounting and Business Research, 34(4), 277-297.
Wang P (2003). Choosing a valuation operator for pricing assets with long–short spreads: the impact of transaction costs and taxes. The British Accounting Review, 35(3), 199-214.
Pope P, Wang P (2003). Discussion of Positive (Zero) NPV Projects and the Behavior of Residual Earnings. Journal of Business Finance Accounting, 30(1-2), 17-24.
Walker M, Wang P (2003). Towards an understanding of profitability analysis within the residual income valuation framework. Accounting and Business Research, 33(3), 235-246.

Publications by year


2015

Wang P, Ashton D (2015). Conservatism in residual income models: theory and supporting evidence. Accounting and Business Research, Volume 45(Issue 3), 387-410. Abstract.  Full text.

2014

Wang P (2014). On the relevance of earnings components in valuation and forecasting. Review of Quantitative Finance and Accounting, 42(3), 399-413. Abstract.  Full text.
Wang P, Huang W (2014). The implied growth rates and country risk premium: evidence from Chinese stock markets. Review of Quantitative Finance and Accounting, 45(3), 641-663. Abstract.  Full text.

2013

Ashton D, Wang P (2013). Terminal valuations, growth rates and the implied cost of capital. Review of Accounting Studies, 18(1), 261-290. Abstract.  Full text.
Wang P (2013). The role of disaggregation of earnings in stock valuation and earnings forecasting. Accounting and Business Research, 43(5), 530-557. Abstract.  Full text.
Ashton D, Wang P (2013). Valuation Weights, Linear Dynamics and Accounting Conservatism: an Empirical Analysis. Journal of Business Finance and Accounting, 40(1-2), 1-25. Abstract.  Full text.

2011

Wang P, Ashton D, Peasnell K (2011). Residual Income Valuation Models and Inflation. European Accounting Review, 20(3), 459-483. Full text.

2005

Pope PF, Wang P (2005). Earnings Components, Accounting Bias and Equity Valuation. Review of Accounting Studies, 10(4), 387-407.

2004

Cooke TE, Ashton D, Tippett MJ, Wang P (2004). Linear information dynamics, aggregation, dividends and 'dirty surplus' accounting. Accounting and Business Research, 34(4), 277-297.

2003

Wang P (2003). Choosing a valuation operator for pricing assets with long–short spreads: the impact of transaction costs and taxes. The British Accounting Review, 35(3), 199-214.
Pope P, Wang P (2003). Discussion of Positive (Zero) NPV Projects and the Behavior of Residual Earnings. Journal of Business Finance Accounting, 30(1-2), 17-24.
Walker M, Wang P (2003). Towards an understanding of profitability analysis within the residual income valuation framework. Accounting and Business Research, 33(3), 235-246.

External positions

  • Editorial Board: European Accounting Review
  • Associate Editor: Frontier in Economics and Finance.
  • External examiner, Nottingham University