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Peng Zhang

Assistant Professor, Strategy / Business and Society



Ph.D. (Economics, University of Cambridge), MPhil. (Economics, University of Cambridge), B.S. and B.A. (Peking University)

Research Interests

My research focuses on how institutions and institutional disruptions affect business performances, public policies, and regional development. My research program follows two main strands. First, I investigate how institutions affect business performance in emerging economies, particularly informal and/or traditional institutions that are of paramount importance in these countries. Second, I analyse how institutional disruptions, associated with diplomatic disputes, geopolitical risks and sanctions, influence multinational enterprises, public policy and regional development.

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Selected Publications

articles and reports

Guo, Q., Zhang, P., Zhu, S., & Liu, J. (2023). Export market relatedness, geographical diversification and regional export growth in China. Structural Change and Economic Dynamics, 67, 336-346.

Shapiro, D., Oh, C. H., & Zhang, P. (2023). Nighttime lights data and their implications for IB research. Journal of International Management, 29(5), 101055.

Li, Y., Li, J., Zhang, P., & Gwon, S. (2022). Stronger together: Country-of-origin agglomeration and multinational enterprise location choice in an adverse institutional environment. Strategic Management Journal.

Aidt, T. S., Winer, S. L., & Zhang, P. (2021). Franchise extension and fiscal structure in the UK 1820-1913: a new test of the Redistribution Hypothesis. Cliometrica.

Krishnan, P., & Zhang, P. (2020). Restricting trade and reducing variety: Evidence from Ethiopia. World Development, 126.

Gunning, J. W., Krishnan, P., Mengistu, A. T., & Zhang, P. (2020, January). Fading choice: Access to manufactured goods in remote Ethiopia. VoxDev.

Yeung, G., He, C., & Zhang, P. (2017). Rural banking in China: a case of centralization? Area Development and Policy, 2(2), 173-191.

Yeung, G., He, C., & Zhang, P. (2017). Rural banking in China: geographically accessible but still financially excluded? Regional Studies, 51(2), 297-312.

Lei, X., Sun, X., Strauss, J., Zhang, P., & Zhao, Y. (2014). Depressive symptoms and SES among the mid-aged and elderly in China: Evidence from the China Health and Retirement Longitudinal Study national baseline. Social Science and Medicine, 120, 224-232.

Zhang, P., He, C., & Sun, Y. (2014). Agglomeration economies and firm R&D efforts: an analysis of China’s electronics and telecommunications industries. Annals of Regional Science, 53(3), 671-701.