Biography
Ong Chui Zi (Dr.) is an Assistant Professor of Finance at the School of Economics and Management, Xiamen University Malaysia (XMUM). Her research interests include initial public offerings (IPOs), equity valuation, portfolio management, investment, corporate finance, and Environmental, Social and Governance (ESG). She has been published in a number of scholarly journals such as Borsa Istanbul Review, Journal of Financial Reporting and Accounting, Journal of Asian Business and Economic Studies and others. She also serves as a reviewer for some of the journals, specifically, Corporate Social Responsibility and Environmental Management, South Asian Journal of Business Studies, Quality and Quantity, and others.
Research Interest
Initial Public Offerings (IPOs), Equity Valuation, Portfolio Management, Investment, Corporate Finance, Environmental, Social and Governance (ESG)
Educational Background
PhD (Finance and Banking), School of Economics, Finance and Banking, Universiti Utara Malaysia, Malaysia (2021)
MSc (Finance), School of Economics, Finance and Banking, Universiti Utara Malaysia, Malaysia (2016)
Bachelor of Food Science with Honours (Food Science and Nutrition), Universiti Malaysia Sabah (2014)
Working Experience
Assistant Professor at Xiamen University Malaysia. (14th March 2022 - present)
Visiting Lecturer at Universiti Utara Malaysia in the collaboration with Asian Institute of Cambodia (AIC). (1st January 2020 - 30th April 2020)
Graduate Research Assistant, School of Economics, Finance and Banking, Universiti Utara Malaysia, Malaysia. (1st May 2019 – 31th Oct 2019)
Visiting Lecturer at Universiti Utara Malaysia in collaboration with Asian Institute of Cambodia (AIC). (1st January 2019 - 30th April 2019)
Research Assistant at School of Economics, Finance and Banking, Universiti Utara Malaysia. (1st September 2016 - 30th August 2017)
Research Experience
Principal Investigator. The Impact of Prospectus Information on the Valuation of Malaysian IPOs: Moderating Role of Underwriter Reputation, XMUM Research Fund (XMUMRF), Xiamen University Malaysia. (January 2023 – Ongoing)
Co-researcher. The Influence of Centre Bank Digital Currency on Financial Industries in Malaysia, INTI Seed Grant, INTI International University. (September 2024 - Ongoing)
Representative Publications
Book Chapter
Ong, C.Z.*, & Mohd-Rashid, R. (2025). Equity valuation and financial reporting. In: Kamardin, H., Amran, N.A., Airpin, N. (Ed.), Financial reporting studies: Recent developments (pp. 143-164), UUM Press.
Journal Publication
Ong, C.Z.*, Mohd-Rashid, R., Albada, A., Ng, S.H., & Toh, M.Y. (2025). Mandatory Lock-up Provision, Retained Ownership, and IPO Valuation in an Emerging Country. International Journal of Managerial Finance. https://doi.org/10.1108/IJMF-01-2024-0063
Albada, A.*, Abusham, E.E., Ong, C.Z., & Al Qatiti, K. (2025). Machine learning insights: probing the variable importance of ex-ante information. Managerial Finance, 51(1), 12-31. https://doi.org/10.1108/mf-12-2023-0765
Siow, J. S., Teoh, B. A.*, Ong, C.Z., & Chee, K. X. (2025). The impact of AI chatbot adoption on customer experience in e-retailing. Issues and Perspectives in Business and Social Sciences, 5(1), 27–36. https://doi.org/10.33093/ipbss.2025.5.1.3
Peng, Z.*, Qian, X. & Ong, C.Z. (2024). Convertible Bond Pricing in Chinese Transportation Industry: A Comparison Methods Between Binomial Tree Model and Black-Scholes Model. International Journal of Management, Finance and Accounting, 5(2), 346-384. https://doi.org/10.33093/ijomfa.2024.5.2.1
Ng, S.H.*, Yang, Y., Lee, C.C., & Ong, C.Z. (2023). Nexus of Financing Constraints and Supply Chain Finance: Evidence from Listed SMEs in China. International Journal of Financial Studies, 11(3), 102. https://doi.org/10.3390/ijfs11030102
Ong, C.Z.*, Mohd-Rashid, R., Mehmood, W., & Anwar, A. (2023). Earnings forecasts disclosure and oversubscription rates of fixed-price Initial Public Offerings (IPOs): The case in Malaysia. Journal of Asian Business and Economic Studies, 30(4), 270-282. https://doi.org/10.1108/JABES-03-2022-0065
Mohd-Rashid, R.*, Mehmood, W., Ooi, C.-A., Che Man, S.Z. and Ong, C.Z. (2023). Strengthened rule of law to reduce corruption: evidence from Asia-Pacific countries. Journal of Money Laundering Control. https://doi.org/10.1108/JMLC-06-2022-0076
Zhao, W., & Ong, C.Z.* (2023). Deep Learning Predicts Gold Futures Prices: A Comparative Study Based on LSTM and GRU Models. Proceedings of the 12th International Conference on Logistics and Systems Engineering, 352–360.
Mohd-Rashid, R.*, Tajuddin, A.H., Khaw, K.L.H., & Ong, C.Z. (2022). The impact of changes in regulations on Malaysian IPOs. Accounting Research Journal, 35(3), 317-335. https://doi.org/10.1108/ARJ-12-2020-0378
Anwar, A.*, Mohd-Rashid, R., Che-Yahya, N., & Ong, C.Z. (2022). Do sponsors and democratic government influence the flipping activity of Pakistan IPO? Evidence from developing market. Management Research Review, 45(7), 882-896. https://doi.org/10.1108/MRR-02-2021-0137
Ong, C.Z.*, Mohd-Rashid, R., Mehmood, W., & Tajuddin, A.H. (2021). Does disclosure of earnings forecasts regulation affect the valuation of IPOs? Evidence from an emerging country. Asian Review of Accounting, 29(4), 558-578. https://doi.org/10.1108/ARA-09-2020-0142
Ong, C.Z.*, Mohd-Rashid, R., & Taufil-Mohd, K.N. (2021). IPO valuation using the price-multiple methods: Evidence from Malaysia. Journal of Financial Reporting and Accounting, 9(4), 540-570. https://doi.org/10.1108/JFRA-05-2020-0128
Mehmood, W.*, Mohd-Rashid, R., Aman-Ullah, A., & Ong, C.Z. (2021). Country-level institutional quality and public debt: Empirical evidence from Pakistan. Journal of Asian Finance, Economics and Business, 8(4), 21– 32. https://doi.org/10.13106/jafeb.2021.vol8.no4.0021
Mehmood, W.*, Mohd-Rashid, R., Ong, C.Z., & Abbas, Y.A. (2021). Factors driving IPO variability: Evidence from Pakistan Stock Exchange. Journal of Economics, Finance and Administrative Science, 26(52), 300-316. https://doi.org/10.1108/JEFAS-04-2021-0036
Mehmood, W.*, Mohd-Rashid, R., Che-Yahya, N., & Ong, C.Z. (2021). Determinants of heterogeneity in investors’ opinions on IPO valuation: Evidence from the Pakistan stock market. Review of Behavioral Finance, 13(5), 631-646. https://doi.org/10.1108/RBF-04-2020-0078
Ong, C.Z.*, Mohd-Rashid, R., & Taufil-Mohd, K.N. (2020). Do institutional investors drive the IPO valuation? Borsa Istanbul Review, 20(4), 307-321. https://doi.org/10.1016/j.bir.2020.05.003
Ong, C.Z.*, Mohd-Rashid, R., & Taufil-Mohd, K.N. (2020). Growth opportunity and IPO value: An empirical study of Malaysian IPOs. Jurnal Pengurusan, 58, 15-25. https://doi.org/10.17576/pengurusan-2020-58-02
Ong, C.Z.*, Mohd-Rashid, R., & Taufil-Mohd, K.N. (2020). Leverage and IPO pricing: Evidence from Malaysia. International Journal of Banking and Finance, 15(1), 1-19. https://doi.org/10.32890/ ijbf2020.15.1.9929
Ong, C.Z.*, Mohd-Rashid, R., & Taufil-Mohd, K.N. (2020). Underwriter Reputation and IPO Valuation in an emerging market: Evidence from Malaysia. Managerial Finance, 46(10), 1283-1304. https://doi.org/10.1108/MF-11-2019-0579
(* indicates corresponding author)
Reviewer for Scholarly Journal
Corporate Social Responsibility and Environmental Management [Wiley]
The American Journal of Economics and Sociology [Wiley]
Applied Economic Letters [Taylor & Francis]
International Journal of Managerial Finance [Emerald]
Journal of Money Laundering Control [Emerald]
South Asian Journal of Business Studies [Emerald]
Asian Academy of Management Journal of Accounting and Finance [USM press]
Quality and Quantity [Springer]
Journal of Financial Reporting and Accounting [Emerald]
Journal of Economics, Finance and Administrative Science [Emerald]
Journal of Financial Economic Policy [Emerald]
International Journal of Accounting and Finance [Inderscience]
Global Business and Economics Review [Inderscience]
International Journal of Banking and Finance [UUM press]
Honors / Awards
Malaysia Public Service Department’s Scholarship (2010-2014)
Mybrain15 Scholarship, Malaysia (2015-2016)
Best Paper Award - The 12th Symposium on Logistics and Systems Engineering, Changsha, China (2023) in collaboration with Hunan Institute of Systems Engineering and Management.