Douglas Cumming (dcumming)

Douglas Cumming

Professor & Steven Shulman '62 Endowed Chair for Business Leadership

School of Business

Babbio Center 427
Website

Education

  • Other (2002) CFA, Chartered Financial Analyst Institute (Finance)
  • Ph.D. (1999) University of Toronto (Economics)
  • J.D. (1998) University of Toronto (Law)
  • M.A. (1993) Queen's University (Economics)
  • B.B.A. (1992) McGill University (Economics and Finance)

Research

Financial Technology
Entrepreneurship and Innovation
Entrepreneurial Finance
Crowdfunding
Venture Capital
Private Equity
Hedge Funds
Mutual Funds
Sovereign Wealth Funds
Corporate Misconduct
Market Manipulation
Academic Publishing
Climate Finance

General Information

CURRENT POSITIONS

Stevens Institute of Technology School of Business
Professor of Finance
Steven Shulman ’62 Endowed Chair for Digital Innovation

European Corporate Governance Institute (ECGI)
Research Member

EDUCATION

CFA, Chartered Financial Analysts Institute 2000-2002

Ph.D. University of Toronto (Economics) 1995-1999

J.D. University of Toronto (Law) 1994-1998

M.A. Queen's University (Economics) 1992-1993

B.Com. (Hons.) McGill University (Economics & Finance) 1988-1992

Experience

Florida Atlantic University College of Business 2018 - 2025
DeSantis Distinguished Professor of Finance and Entrepreneurship
Research chair granted in 2018; Research chair renewed in 2021

York University Schulich School of Business 2007-2018
Professor of Finance and Entrepreneurship (2010 – 2018)
Associate Professor of Finance and Entrepreneurship (2007- 2010)
Ontario Research Chair in Economics and Public Policy (2007 – 2018)
The Chair was formally renewed for an additional 7-year term in starting in 2014.

Rensselaer Polytechnic Institute (RPI) 2005-2007
Associate Professor of Finance, Lally School of Management and Technology

University of New South Wales 2004-2005
Associate Professor of Finance, School of Banking and Finance

University of Alberta School of Business 1999-2003
Assistant Professor of Finance, Business Economics & Law

Institutional Service

  • PhD Committee Member
  • Tenure and Promotions Committee Chair

Professional Service

  • Review of Corporate Finance Editor-in-Chief
  • Journal of Alternative Investments Editor-in-Chief
  • Journal of International Business Studies Advisory Editor
  • Business Ethics, the Environment, and Responsibility Associate Editor
  • Venture Capital: An Inernational Journal of Entrepreneurial Finance Associate Editor
  • European Journal of Finance Associate Editor
  • Journal of Banking and Finance Associate Editor
  • Studies in Economics and Finance Associate Editor
  • Academy of Management Entrepreneurship Division Representative at Large

Consulting Service

Expert Witness:
I have served as an expert witness on numerous litigation cases involving matters that include but are not limited to tax evasion, improper disclosure, financial accounting fraud, market manipulation, hedge fund misconduct, mutual fund misconduct, valuation and disclosure in mergers and acquisitions, cancellation of dividends, market efficiency and damages, wrongful dismissal, and valuation of private enterprises backed by venture capital and private equity funds. Details available on request.

Advisory work:
I have advised regulatory bodies in North America, Europe, and Australasia on financial market regulation, including matters pertaining to trading rules, surveillance, venture capital programs, taxation, and crowdfunding legislation. Details available on request.

Appointments

Stevens Institute of Technology School of Business 2025–present
Professor of Finance
Steven Shulman ’62 Endowed Chair for Digital Innovation
Tenure and Promotions Committee Co-Chair 2026-2028

European Corporate Governance Institute (ECGI) 2023–present
Research Member

Innovation and Entrepreneurship

My research, teaching, and service focus on how new ventures and new technologies are financed and governed. As the Steven Shulman ’62 Endowed Chair for Digital Innovation, I study venture capital, private equity, crowdfunding, fintech, and blockchain-based financing such as initial coin offerings and crypto funds. I have also published work on how governance, regulation, and ownership affect corporate innovation.

I have published 275 refereed papers on entrepreneurship, entrepreneurial finance, and related topics, which have been cited more than 39,000 times. I have also authored or edited more than a dozen books in this area. They include Crowdfunding: Fundamental Cases, Facts, and Insights (Elsevier, 2019), Venture Capital and Private Equity Contracting: An International Perspective (Elsevier, 2nd ed., 2013), The Economics of Crowdfunding (Palgrave Macmillan, 2018), and the Oxford Handbooks of Entrepreneurial Finance, Venture Capital, and Private Equity. I currently serve as Representative at Large on the Academy of Management Entrepreneurship Division Program Committee (2026–2028).

I have advised governments and industry groups on entrepreneurship and innovation policy. These include the Ontario Minister of Finance's Technical Panel reviewing business support programs, Industry Canada, the Australian Private Equity and Venture Capital Association, the Canadian Venture Capital & Private Equity Association, and the National Crowdfunding and Fintech Association of Canada. In the classroom, I have developed new courses on crowdfunding and fintech.

Honors and Awards

2025 PERC Oxford Research Symposium Best Paper
for the paper: Chen, Ruiyuan, Cumming, Douglas J., Zhao, Binru, & Zhao, Yijia
Private Equity Sponsors, Law Firm Relationship, and Loan Contracts in Leveraged Buyouts

Research Symposium in Finance and Economics 2025
Best paper award for "Contagion Effects of Equity Financing Announcements within
Business Groups" with Sanchit Jain and Varun Jindal

British Accounting Review 2025
Best Reviewer Award

European Financial Management 2024
Best Paper Award

CFA Society of South Florida Forecast Dinner January 2024
Panel Member

ScholarGPS October 2023
Ranked 1st in the U.S. for research productivity (their formula of publications and citations) over the past 5 years among all scholars in finance
Ranked 11th in the U.S. for research productivity for career lifetime regardless of age among all scholars in finance

European Corporate Governance Institute (ECGI) 2023-current
Research Member

Clarivate Highly Cited Scholars 2022
Listed as one of the top 1% of scholars for citations from published papers
Category: Business and Economics (92 top scholars in the world)

British Academy of Management 2022-current
Fellow

Greater Fort Lauderdale Alliance 2022
World Class Faculty Award

Helena Yli-Renko Research Impact Award 2021
Sponsored by the Lloyd Greif Center for Entrepreneurial Studies
at the USC Marshall School of Business.

Journal of International Business Studies 2020
Best Reviewer Award

Journal of Risk and Financial Management 2020
Best Reviewer Award

Journal of Small Business Management 2020
Best Reviewer Award

Journal of International Business Studies 2019
Silver Medal for 5 or more substantive contributions to JIBS in the first 50 years

Financial Management & Accounting Research, Limassol, Cyprus 2019
Best Paper Award for “Public to Private Buyouts and Innovation”

British Academy of Management Annual Conference 2018
Best paper award for Corporate Governance
“Venture Capital and Disclosure of Material weakness in Control”

Strategic Entrepreneurship Journal 2017
Best Reviewer of the Year Award

FMA Applied Finance Conference (NY) Best Paper Award for “M&A Rumors” 2017

Elsevier Award for Highly Cited Research 2017
For “Public Policy, Entrepreneurship, and Venture Capital in the United States,”
Journal of Corporate Finance (JCF, 2013)
Top 5 most cited paper in JCF for Scopus citations in 2014-2016

Open University of Hong Kong, Outstanding Research Paper Award 2017
“Gender Diversity and Securities Fraud”

United States Association for Small Business and Entrepreneurship (USASBE) 2016
Award for Entrepreneurial Finance: “Government Venture Capital and
Cross-Border Investment”. I removed myself as a coauthor of this paper when I
discovered there was a problem with data collected by a coauthor. I then explained the data problems here: Cumming, D.J., and S.A. Johan, 2018. “Government Venture Capital Research: Fake Science and Bad Public Policy,” Venture Capital: An International Journal of Entrepreneurial Finance, 29(1): 121-131.

Eurasian Business and Economics Society (EBES) Conference Best Paper Award 2015
(2nd Place) 16th EBES Conference Istanbul 2015 for the paper
“Cameras Tracking Shoppers: The Economics of Retail Video Surveillance”

Corporate Governance: An International Review Best Paper Award (2nd Place) 2015
Among all papers published in CGIR in 2014 for the paper “The Economic Impact of
Entrepreneurship: Comparing International Datasets”

Alternative Investment Management Association (AIMA) 2015
Best Paper Award (“Dodd-Franking the Hedge Funds”)

British Council Links Conference on Emerging Markets, Madrid, 2015
Best Paper Prize

York University Research Leaders Award 2015
(university-wide recognition)

York University Schulich School of Business Research Award 2015

International Journal of Management Reviews 2014
Best Reviewer of the Year Award

Australian Private Equity and Venture Capital Association (AVCAL) 2014
Research Prize (“Equity Crowdfunding”)

11th Eurasian Business and Economics Society (EBES) Conference 2013
in Ekaterinburg, Russia, Best Paper Award (“Gender Diversity in Securities Fraud”)
Australian Private Equity and Venture Capital Association (AVCAL) 2013
Research Prize (“Venture’s Economic Impact in Australia”)

Bank of Canada Best Paper Award, Northern Finance Association 2011 Annual Conference, University of British Columbia, Vancouver,
September 2011 (“The Role of Agents in Private Entrepreneurial Finance”)

Journal of Business Venturing 2010
Best Reviewer of the Year Award

The Canadian Institute of Chartered Business Valuators (CICBV) 2009
Best Paper Research Prize
“Private Equity Returns and Disclosure around the World”

Alternative Investment Management Association (AIMA) Canada Hillsdale 2008
Best Paper Prize (“Don’t Fence Them In: Hedge Fund Regulation and Performance”)

PWC Global Competency Centre Research Excellence Award 2005
(with Uwe Walz) for the study of international accounting standards and reports
from private equity funds (“Private Equity Returns and Disclosure around the World”)

Best Paper Award at the Australian Graduate School of Entrepreneurship 2005
Conference (“Bankruptcy Law and Entrepreneurship”)

Iddo Sarnat Award 2004
for the best paper published in the Journal of Banking and Finance (JBF) in 2003,
for the paper entitled “A cross-country comparison of full and partial venture capital exits"
(with Jeffrey MacIntosh), published in JBF 27 (2003).

Professional Societies

  • ECGI – European Corporate Governance Institute Member
  • BAM – British Academy of Management Fellow
  • AOM – Academy of Management Senior member

Grants, Contracts and Funds

Institute for Humane Studies, 2026-2027
Research grant on digital governance

Social Sciences and Humanities Research Council of Canada, 2025-2027
Research Grant on alternative finance $63,506
(Co-applicant) with Yen Nguyen, Anh Pham, My Nguyen, and Bhavik Parikh

Social Sciences and Humanities Research Council of Canada, 2021-2023
Research Grant on “Entrepreneurial Firms and Sources of Finance” $41,940
(Co-applicant) with Tuan Ho, My Nguyen, Yen Nguyen

Social Sciences and Humanities Research Council of Canada, Research Grant
on Crowdfunding ($196,225) (Co-applicant) 2015 – 2020
SWIFT Institute ($20,000) grant on mutual funds around the world 2014 – 2015

Social Sciences and Humanities Research Council of Canada, 2014 – 2020
Resear Grant on Family Firms and Venture Capital ($111,995) (Co-Applicant)

Social Sciences and Humanities Research Council of Canada, 2012 – 2017
Research Grant on Fraud ($250,420) (Principal Applicant)

Social Sciences and Humanities Research Council of Canada Conference 2011
Grant for Alternative Investments ($Can25,000) (Principal Applicant)

Social Sciences and Humanities Research Council of Canada, 2008 – 2012
Research Grant on Innovation Centers ($155,500) (Principal Applicant)

Paolo Baffi Center for Central Banking and Financial Regulation, Research Fellow, 2008 – 2010
Bocconi University, Milan, Research Award on Market Surveillance €8,000

Capital Markets CRC, Sydney, Research Grant on Market Surveillance 2006 – 2007

Government of Australia 2005-2006
Research on Government Policy towards Investment Funds and Research and Development Tax Credits

AEI Brookings / Groupe d'Economie Mondiale at Sciences Po Research Grant 2005 – 2006
(with Sofia Johan, €5,000) for the study of regulatory harmonization and the
development of private equity markets

U.K. Insolvency Office (with John Armour, £30,000) 2005-2006
for work on entrepreneurship and bankruptcy law across countries

Social Sciences and Humanities Research Council of Canada Fellowship 2003 – 2006
($900,000) for work on Entrepreneurship and the Internet

University of Alberta Center for Entrepreneurship and Family Enterprise Grant 2002 – 2003 ($5,000)

Schulich School of Business National Research Program in Financial Services 2001 – 2003
Venture Capital and Public Policy Fellowship (joint with Jeffrey G. MacIntosh, $25,000)

University of Alberta School of Business SAS and Pearson Fellowships 2000 – 2004
($40,000)

University of British Columbia Entrepreneurship Research Alliance Scholarship ($5,000) 1999

Selected Publications

Book

  1. Cumming, D.; Hoque, H.; Pour, E. (2026). Cumming & Raising Finance: From Traditional to New Forms of Entrepreneurial Finance, World Scientific (pp. 1-500). World Scientific.
    https://www.worldscientific.com/worldscibooks/10.1142/q0502?srsltid=AU7gw4WKDBlinu0ZSppf4hElMQXbUGVVX8W8Fao5o1LGzn5k2y3QiaIU#t=aboutBook.
  2. Cumming, D. (2025). Publishing in finance versus entrepreneurshipmanagement journals. How to Get Published in the Best Management Journals Third Edition (pp. 290-302).
  3. Cumming, D.; Hoque, H. (2025). Raising Finance: From Traditional to New Forms of Entrepreneurial Finance. Raising Finance from Traditional to New Forms of Entrepreneurial Finance (pp. 1-673).
  4. Cumming, D.; Glatzer, Z. (2024). How Alternative Data Are Changing Finance. Emerald Handbook of Fintech Reshaping Finance (pp. 303-314).
  5. Cumming, D.; Johan, S.; Zhang, M. (2022). GOVERNMENT VENTURE CAPITAL PROGRAMS. Oxford Handbook of State Capitalism and the Firm (pp. 266-282).
  6. Cumming, D.; Schwienbacher, A. (2021). Fintech venture capital. Routledge Handbook of Fintech (pp. 11-37).
  7. Cumming, D.; Johan, S.; Wood, G. (2021). INTRODUCING HEDGE FUNDS. Oxford Handbook of Hedge Funds (pp. 1-32).
  8. Cumming, D.; Dannhauser, R.; Johan, S. (2021). Reputational Effects of Noncompliance with Financial Market Regulations. Cambridge Handbook of Compliance (pp. 245-276).
  9. Cumming, D.; Johan, S.; Wood, G. (2021). THE OXFORD HANDBOOK OF HEDGE FUNDS. Oxford Handbook of Hedge Funds (pp. 1-545).

Conference Proceeding

  1. Tapar, J.; Wood, N.; Cumming, D.; Pusino, V. (2024). Broadband MWIR Meta-absorbers using hybridized ENZ-plasmonic modes. Proceedings of SPIE the International Society for Optical Engineering (vol. 13204).
  2. Cumming, D.; Vanacker, T.; Zahra, S. A. (2021). Equity crowdfunding and governance: Toward an integrative model and research agenda. Academy of Management Perspectives (1 ed., vol. 35, pp. 69-95).

Editorial, Book

  1. Cumming, D. (2025). Foreword by Douglas Cumming. Innovation in Banking and Financial Intermediaries the Disruptive Role of Esg Policies and Fintech Players (pp. xi-xix).

Editorial, Book Series

  1. Cumming, D. (2023). Foreword. Contributions to Management Science (vol. Part F1957, pp. v-vi).

Editorial, Journal

  1. Cumming, D.; Gang, M.; Brouwer, D.; Shorland, S.; Adams, G.; Law, W.; Rowe, D.; Weaver, X. (2026). The Journal of Alternative Investments. Journal of Alternative Investments (3 ed., vol. 28, pp. 1-3).
  2. Cumming, D. (2026). Editor's Letter. Journal of Alternative Investments (1 ed., vol. 29, pp. 1-3).
  3. Cumming, D. (2025). Editor's Letter. Journal of Alternative Investments (2 ed., vol. 28, pp. 1-2).
  4. Taylor, G.; Cumming, D.; Li, D.; Shi, J. (2025). The role of legal, regulatory and political reforms and institutions in influencing accounting and financial outcomes. British Accounting Review (3 ed., vol. 57).
  5. Cumming, D. (2025). Editor's Letter. Journal of Alternative Investments (4 ed., vol. 27, pp. 1-2).
  6. Cumming, D.; Farag, H.; Johan, S. (2024). Sustainability, climate change and financial innovation: Future research directions. European Financial Management (2 ed., vol. 30, pp. 675-679).
  7. Cumming, D.; Glatzer, Z.; Guedhami, O. (2023). Institutions, digital assets, and implications for economic and financial performance. Journal of Industrial and Business Economics (3 ed., vol. 50, pp. 487-513).
  8. Cumming, D.; Johan, S.; Khan, Z.; Meyer, M. (2023). E-Commerce Policy and International Business. Management International Review (1 ed., vol. 63, pp. 3-25).
  9. Budhwar, P.; Cumming, D.; Wood, G. (2022). Editorial: Entrepreneurial Finance and the Legacy of Mike Wright. British Journal of Management (1 ed., vol. 33, pp. 3-8).
  10. Chakravarty, S.; Cumming, D.; Murtinu, S.; Scalera, V. G.; Schwens, C. (2021). Exploring the next generation of international entrepreneurship. Journal of World Business (5 ed., vol. 56).
  11. Cumming, D. (2021). What does it take? Tips on research and publishing at the 25th anniversary of the Journal of Corporate Finance. Journal of Corporate Finance (vol. 66).

Journal Article

  1. Cumming, D.; Hernandez, E.; Ji, S. (2026). Not All Family Firms Are Alike: How Founder-Led and Governance-Entrenched Family Control Shape the Trading Environment Around the Firm. Family Business Review (3 ed., vol. 39, pp. 261-278).
  2. Alexander, C.; Cumming, D. (2026). Coordinated journals, concentrated networks and citation growth: Evidence from finance. Journal of Banking and Finance (vol. 188).
  3. Bian, J.; Cumming, D.; Lei, J.; Wang, Y. (2026). Female board directorship and employee pay: International evidence from board gender diversity reforms. Journal of Corporate Finance (vol. 100).
  4. Cumming, D.; DeLisle, R. J.; Lei, J.; Yang, Z. (2026). Corporate governance and trade credit: International evidence from board reforms. Journal of Corporate Finance (vol. 99).
  5. Borrelli, M.; Cumming, D.; Frye, M. B.; Whyte, A. M. (2026). The Effects of Foreign Directors on CEO and Director Compensation. Financial Review (2 ed., vol. 61, pp. 359-382).
  6. Cumming, D.; Farag, H.; Koirala, S.; McGowan, D. (2026). How disruptive is financial technology?. Research Policy (3 ed., vol. 55).
  7. Cumming, D.; Johan, S.; Uzuegbunam, I. (2026). Poverty and Perceptions of Electoral Integrity in the USA. Economics and Politics (1 ed., vol. 38, pp. 216-230).
  8. Cumming, D.; Nguyen, M.; Pham, A. V.; Samarasinghe, A. (2026). Banking system stability: a global analysis of cybercrime laws. Journal of International Business Studies.
  9. Cumming, D.; Johan, S. (2026). Editorial networks, geography, and social responsibility: Alternative finance and the limits of finance. British Accounting Review.
  10. Cumming, D.; Monteiro, P. (2026). Hedge Fund Investment in Exchange Traded Funds. European Financial Management.
  11. Cumming, D.; Nguyen, G.; Pham, A. V.; Truong, C. (2026). Legitimacy Signals and Investor Protections: Top-Tier Law Firms in Global Venture Capital Investments. Entrepreneurship Theory and Practice.
  12. Choi, H. K.; Cumming, D.; Du, Q.; Lee, J. H. (2026). The Agency Costs of Side-by-side Management: Evidence from the Hedge Fund and Private Equity Industry. British Journal of Management (1 ed., vol. 37).
  13. Tan, W.; Chen, X. H.; Cumming, D. (2026). Unintended Consequences of Corporate Overtime: Spillover Effects on Consumer Voice. British Journal of Management.
  14. Cumming, D.; Sun, R.; Xu, L.; Yu, C. F. (2026). Weather-Induced Positive Sentiment and Insider Trading. European Financial Management.
  15. Coakley, J.; Cumming, D.; Lazos, A.; Vismara, S. (2025). Lead Investor Nominee in Equity Crowdfunding. British Journal of Management (4 ed., vol. 36, pp. 1524-1538).
  16. Cumming, D.; Fuchs, J.; Momtaz, P. P. (2025). Market Reactions to Cryptocurrency Regulation: Risk, Return and the Role of Enforcement Quality. British Journal of Management (4 ed., vol. 36, pp. 1709-1745).
  17. Cumming, D.; Wu, H.; Zhao, Y. (2025). The geography of environmental regulation: Plant-level emissions data. British Accounting Review (5 ed., vol. 57).
  18. Cumming, D.; Li, P.; Zhan, F.; Zhu, W. (2025). Changes in bank profitability Post-CEO succession: Does prior CEO experience improve bank performance?. British Accounting Review (4 ed., vol. 57).
  19. Chowdhury, R.; Cumming, D.; Gorkhali, A. (2025). The US Individualism–Collectivism and Labor Investment Efficiency. Corporate Governance an International Review (4 ed., vol. 33, pp. 873-899).
  20. Cumming, D.; Lan, Y.; Shan, Y. G.; Zhang, J. (2025). Discretionary tone in reward-based crowdfunding: Do project owners talk their way to success?. British Accounting Review (3 ed., vol. 57).
  21. Haider, Z. A.; J. Cumming, D.; Wu, Z. (2025). Groupthink in the Board of Family Firms: The Case of Institutional Investment. Entrepreneurship Theory and Practice (3 ed., vol. 49, pp. 916-958).
  22. Cumming, D.; Nguyen, M. (2025). The impact of asset specificity on corporate tax avoidance: Do financial constraints and product market power matter?. British Accounting Review (3 ed., vol. 57).
  23. Cumming, D.; Lu, F.; Xu, L.; Yu, C. F. (2025). Does stakeholder orientation mitigate shareholder-employee conflicts? Evidence from a quasi-natural experiment. Journal of Corporate Finance (vol. 91).
  24. Cumming, D.; Sewaid, A. (2025). Crowdlending, Self-Employment, and Entrepreneurial Performance. Entrepreneurship Theory and Practice (2 ed., vol. 49, pp. 403-434).
  25. Cumming, D.; Knill, A.; Syvrud, K. (2025). Government as a Source of Equity Capital for Entrepreneurs: Evidence From Entrepreneurial Exits. Corporate Governance an International Review (2 ed., vol. 33, pp. 326-348).
  26. Cumming, D.; Sewaid, A. (2025). Culture, international stakeholders, and crowdfunding. Global Strategy Journal (1 ed., vol. 15, pp. 184-216).
  27. Chen, S.; Cumming, D.; Liu, X.; Ma, H.; Yan, C. (2025). Alumni Network Centrality and Competitive Aggressiveness. British Journal of Management (1 ed., vol. 36, pp. 255-283).
  28. Andres, C.; Bazhutov, D.; Cumming, D.; Köchling, G.; Limbach, P. (2025). Does Speculative News Hurt Productivity? Evidence from Takeover Rumors. Journal of Financial and Quantitative Analysis.
  29. Cumming, D.; Drobetz, W.; Momtaz, P. P.; Schermann, N. (2025). Financing decentralized digital platform growth: The role of crypto funds in blockchain-based startups. Journal of Business Venturing (1 ed., vol. 40).
  30. Cumming, D.; Johan, S.; Reardon, R. S. (2025). Institutional quality and success in U.S. equity crowdfunding. Research Policy (1 ed., vol. 54).
  31. Basnet, A.; Blomkvist, M.; Cumming, D. (2025). Long-run IPO performance and the role of venture capital. British Accounting Review.
  32. Cumming, D.; Lu, F.; Xu, L.; Yu, C. F. (2024). Are Companies Offloading Risk onto Employees in Times of Uncertainty? Insights from Corporate Pension Plans. Journal of Business Ethics (3 ed., vol. 195, pp. 579-598).
  33. Corbet, S.; Cumming, D.; Glatzer, Z.; Johan, S. (2024). Understanding the rapid development of CBDC in emerging economies. Finance Research Letters (vol. 70).
  34. Browne, O.; Cumming, D.; Hutchinson, M. C.; Kirshner, S. N.; O'Reilly, P. (2024). Why Avoid Participating in an Accelerator? Countersignalling by High-Quality FinTech Ventures. British Journal of Management (4 ed., vol. 35, pp. 1822-1842).
  35. Cumming, D.; Hu, J.; Wu, H. (2024). Leaving a Legacy for my Children: The One-Child Policy Reform and Engagement in CSR Among Family Firms in China. Journal of Business Ethics (3 ed., vol. 193, pp. 611-632).
  36. Cumming, D.; Guo, X.; Yang, L. (2024). REITs board gender diversity: the spillover effect of the Big Three campaign. Journal of Economics and Finance (3 ed., vol. 48, pp. 889-923).
  37. Cumming, D.; Dai, N. (2024). Shadow capital in venture financing: Selection, valuation, and exit dynamic. Journal of Empirical Finance (vol. 78).
  38. Cumming, D.; Javakhadze, D.; Rajkovic, T. (2024). Unlocking Dividends: The impact of managerial social capital on international corporate payouts. Journal of International Financial Markets Institutions and Money (vol. 95).
  39. Carè, R.; Cumming, D. (2024). Technology and automation in financial trading: A bibliometric review. Research in International Business and Finance (vol. 71).
  40. Ahmad, M. F.; Aktas, N.; Cumming, D.; Xu, G. (2024). Board reforms and M&A performance: international evidence. Journal of International Business Studies (5 ed., vol. 55, pp. 616-637).
  41. Alam, M. S.; Atif, M.; Cumming, D.; Islam, M. S. (2024). The impact of board gender composition on loan covenant violations. Corporate Governance an International Review (4 ed., vol. 32, pp. 703-731).
  42. Cumming, D.; Köchling, G.; Neukirchen, D.; Posch, P. N. (2024). How does corporate culture affect IPO price formation?. Journal of Banking and Finance (vol. 163).
  43. Cumming, D.; Khan, M. Z.; Khan, N. U.; Khan, Z. U. (2024). Size matters: Unpacking the relationship between institutional investor size and private equity asset allocation within diverse institutional contexts. Journal of International Financial Markets Institutions and Money (vol. 92).
  44. Cumming, D.; Saurabh, K.; Rani, N.; Upadhyay, P. (2024). Towards AI ethics-led sustainability frameworks and toolkits: Review and research agenda. Journal of Sustainable Finance and Accounting (vol. 1).
  45. Cumming, D.; Meles, A.; Sampagnaro, G.; Verdoliva, V. (2024). Corporate culture and IPOs. European Financial Management (1 ed., vol. 30, pp. 465-495).
  46. Cumming, D.; Duppati, G.; Fernando, R.; Singh, S. P.; Tiwari, A. K. (2024). Dynamics of carbon risk, cost of debt and leverage adjustments. British Accounting Review.
  47. Cumming, D.; Meoli, M.; Rossi, A.; Vismara, S. (2024). ESG and crowdfunding platforms. Journal of Business Venturing (1 ed., vol. 39).
  48. Cumming, D.; Jindal, V.; Kumar, S.; Pandey, N. (2023). Mergers and acquisitions research in finance and accounting: Past, present, and future. European Financial Management (5 ed., vol. 29, pp. 1464-1504).
  49. Cumming, D.; Hass, L. H.; Myers, L. A.; Tarsalewska, M. (2023). Does Venture Capital Backing Improve Disclosure Controls and Procedures? Evidence from Management’s Post-IPO Disclosures. Journal of Business Ethics (3 ed., vol. 187, pp. 539-563).
  50. Cumming, D.; Zhang, M. (2023). Bankruptcy law and angel investors around the world. Journal of International Business Studies (7 ed., vol. 54, pp. 1256-1277).
  51. Cumming, D.; Monteiro, P. (2023). Sovereign wealth fund investment in venture capital, private equity, and real asset funds. Journal of International Business Policy (3 ed., vol. 6, pp. 330-355).
  52. Amin, Q. A.; Cumming, D. (2023). The politician as a CEO, corporate governance and firm value. Journal of International Financial Markets Institutions and Money (vol. 87).
  53. Cumming, D.; Firth, C.; Gathergood, J.; Stewart, N. (2023). Work-from-home and the risk of securities misconduct. European Financial Management (4 ed., vol. 29, pp. 1054-1077).
  54. Akter, M.; Cumming, D.; Ji, S. (2023). Natural disasters and market manipulation. Journal of Banking and Finance (vol. 153).
  55. Aitken, M.; Cumming, D.; Zhan, F. (2023). Algorithmic trading and market quality: International evidence of the impact of errors in colocation dates. Journal of Banking and Finance (vol. 151).
  56. Alsagr, N.; Cumming, D.; Davis, J. G.; Sewaid, A. (2023). Geopolitical risk and crowdfunding performance. Journal of International Financial Markets Institutions and Money (vol. 85).
  57. Cumming, D.; Kumar, S.; Lim, W. M.; Pandey, N. (2023). Mapping the venture capital and private equity research: a bibliometric review and future research agenda. Small Business Economics (1 ed., vol. 61, pp. 173-221).
  58. Bernales, A.; Beuermann, D. W.; Cumming, D.; Olid, C. (2023). Blue-Collar Crime and Finance. Journal of International Financial Markets Institutions and Money (vol. 83).
  59. Cumming, D.; Hornuf, L.; Karami, M.; Schweizer, D. (2023). Disentangling Crowdfunding from Fraudfunding. Journal of Business Ethics (4 ed., vol. 182, pp. 1103-1128).
  60. Cumming, D.; Reardon, R. S. (2023). COVID-19 and entrepreneurial processes in US equity crowdfunding. Journal of Small Business Management (5 ed., vol. 61, pp. 2326-2349).
  61. Cumming, D.; Martinez-Salgueiro, A.; Reardon, R. S.; Sewaid, A. (2022). COVID-19 bust, policy response, and rebound: equity crowdfunding and P2P versus banks. Journal of Technology Transfer (6 ed., vol. 47, pp. 1825-1846).
  62. Cumming, D.; Nguyen, G.; Nguyen, M. (2022). Product market competition, venture capital, and the success of entrepreneurial firms. Journal of Banking and Finance (vol. 144).
  63. Cumming, D.; Farag, H.; Johan, S.; Mcgowan, D. (2022). The Digital Credit Divide: Marketplace Lending and Entrepreneurship. Journal of Financial and Quantitative Analysis (7 ed., vol. 57, pp. 2659-2692).
  64. Cumming, D. (2022). Management Scholarship and the Russia–Ukraine War. British Journal of Management (4 ed., vol. 33, pp. 1663-1667).
  65. Bellavitis, C.; Cumming, D.; Vanacker, T. (2022). Ban, Boom, and Echo! Entrepreneurship and Initial Coin Offerings. Entrepreneurship Theory and Practice (5 ed., vol. 46, pp. 1136-1169).
  66. Cumming, D.; Monteiro, P. (2022). Hedge fund sales fees and the flow of funds around the world. Economic Modelling (vol. 112).
  67. Basnet, A.; Blomkvist, M.; Cumming, D. (2022). Premature listing and post-IPO venture capital refinancing. Economics Letters (vol. 216).
  68. Cumming, D.; Hervé, F.; Manthé, E.; Schwienbacher, A. (2022). Testing-the-Waters Policy With Hypothetical Investment: Evidence From Equity Crowdfunding. Entrepreneurship Theory and Practice (4 ed., vol. 46, pp. 1019-1053).
  69. Cumming, D.; Mohammadi, A.; Zambelli, S. (2022). Misconduct risks, legal enforcement and venture capital networks. European Financial Management (3 ed., vol. 28, pp. 607-650).
  70. Corbet, S.; Cumming, D.; Hou, Y. (.; Hu, Y.; Oxley, L. (2022). Have crisis-induced banking supports influenced European bank performance, resilience and price discovery?. Journal of International Financial Markets Institutions and Money (vol. 78).
  71. Cumming, D.; Ge, Y. (2022). Trade facilitation costs and corruption: Evidence from China. Journal of International Financial Markets Institutions and Money (vol. 78).
  72. Cumming, D.; Hornuf, L. (2022). Marketplace lending of small- and medium-sized enterprises. Strategic Entrepreneurship Journal (1 ed., vol. 16, pp. 32-66).
  73. Cumming, G. D.; van der Velde, R.; Chafer, T. (2022). Understanding the public response: a strategic narrative perspective on France’s Sahelian operations. European Security (4 ed., vol. 31, pp. 617-638).
  74. Alperovych, Y.; Cumming, D.; Czellar, V.; Groh, A. (2021). M&A rumors about unlisted firms. Journal of Financial Economics (3 ed., vol. 142, pp. 1324-1339).
  75. Amin, Q. A.; Cumming, D. (2021). Blockholders and real earnings management-the emerging markets context. Journal of International Financial Markets Institutions and Money (vol. 75).
  76. Cumming, D.; Tingle QC, B. C.; Zhan, F. (2021). For whom (and for when) is the firm governed? The effect of changes in corporate fiduciary duties on tax strategies and earnings management. European Financial Management (5 ed., vol. 27, pp. 775-813).
  77. Cumming, D.; Girardone, C.; Śliwa, M. (2021). Corporate Governance in Extreme Institutional Environments. British Journal of Management (4 ed., vol. 32, pp. 919-946).
  78. Allen, M. L.; Allen, M. M.; Cumming, D.; Johan, S. (2021). Comparative Capitalisms and Energy Transitions: Renewable Energy in the European Union. British Journal of Management (3 ed., vol. 32, pp. 611-629).
  79. Cumming, D.; Leung, T. Y. (2021). Board diversity and corporate innovation: Regional demographics and industry context. Corporate Governance an International Review (3 ed., vol. 29, pp. 277-296).
  80. Blaseg, D.; Cumming, D.; Koetter, M. (2021). Equity Crowdfunding: High-Quality or Low-Quality Entrepreneurs?. Entrepreneurship Theory and Practice (3 ed., vol. 45, pp. 505-530).
  81. Cumming, D.; Verdoliva, V.; Zhan, F. (2021). New and future research in corporate finance and governance in China and emerging markets. Emerging Markets Review (vol. 46).
  82. Cumming, D.; Meoli, M.; Vismara, S. (2021). Does equity crowdfunding democratize entrepreneurial finance?. Small Business Economics (2 ed., vol. 56, pp. 533-552).

Letter, Journal

  1. Cumming, D. (2026). Editors Letter. Journal of Alternative Investments (4 ed., vol. 28).
  2. Cumming, D. (2025). Editor's Letter. Journal of Alternative Investments (1 ed., vol. 28, pp. 1-3).

Review, Journal

  1. Cumming, D.; Johan, S.; Reardon, R. (2023). Global fintech trends and their impact on international business: a review. Multinational Business Review (3 ed., vol. 31, pp. 413-436).

Courses

Fin 426 Equity Valuation