Biography
Dr. Toh Moau Yong is currently an Associate Professor in Finance at XMUM School of Economics and Management. She obtained her Ph.D. degree in Finance from Lincoln University, New Zealand in October 2017. She has published numerous research articles in SSCI-indexed journals and is an active reviewer.
Research Interest
Banking; Climate finance; ESG; Corporate finance
Educational Background
Ph.D. in Finance, Faculty of Commerce, Lincoln University, New Zealand (2017)
Bachelor of Commerce (Hons), Faculty of Commerce, Lincoln University, New Zealand (2013)
Bachelor of Commerce with a double major in Accounting and Finance, Faculty of Commerce, Lincoln University, New Zealand (2012)
Working Experience
Associate Professor, School of Economics and Management, Xiamen University Malaysia (2024 July-Present)
Assistant Professor, School of Economics and Management, Xiamen University Malaysia (2021 Feb-2024 June)
Assistant Professor, School of Economics, Changzhou University, China (2018-2020)
Teaching and research assistant, Lincoln University, New Zealand (2014-2017)
Research Experience
Fundamental Research Grant Scheme (FRGS) (2022.09–2025.08), Ministry of Higher Education (MOHE) Malaysia [Role: Principal investigator]
Guangdong Basic and Applied Basic Research Foundation Grant (2022.10–2025.09) [Role: Principal investigator]
Xiamen University Malaysia Research Fund (XMUMRF) (2021–2026) [Role: Principal investigator]
Representative Publications
Wenqi Zhao, Moau Yong Toh, Yongmin Zhang (2025). The price of green justice: environmental courts and cross-regional capital immobility. Finance Research Letters, 85.
Wenqi Zhao, Moau Yong Toh, Jerry Zhirong Zhao (2025). Green growth in pilot zones for green finance and innovation. Energy Policy, 202.
Moau Yong Toh, Dekui Jia (2025). Monetary policy transmission under pandemic uncertainty: Effect on banks' risk and capital adjustments. International Journal of Finance and Economics, 30(3).
Xiaoying Zhai, Huiping Ma, Yongmin Zhang, Hanglin Jin, Moau Yong Toh (2025). Investor network density and stock crash risk. Economics & Politics, forthcoming.
Chui Zi Ong, Rasidah Mohd Rashid, Ali Albada, Sin Huei Ng, Moau Yong Toh (2025). Mandatory lock-up provision, retained ownership and IPO valuation in an emerging country. International Journal of Managerial Finance, 21(3), 932-957.
Xiaoying Zhai, Huiping Ma, Yongmin Zhang, Peijun Wang, Moau Yong Toh (2024). Institutional investor network and idiosyncratic volatility of stocks. Economics & Politics, 36 (3), 1261-1288.
Moau Yong Toh, Albada, A., Sin Huei Ng (2023). Effect of country governance on cross-border renewable energy investment and climate actions in emerging countries. Emerging Markets Finance and Trade, 59 (13), 3813-3827.
Moau Yong Toh, Dekui Jia (2023). Determinants of bank liquidity creation: a comparison between islamic banks and conventional banks in a dual banking system. The Singapore Economic Review, 68 (03), 963-999.
Albada, A., Low, S.W., Moau Yong Toh (2023). Divergence of beliefs and IPO initial return: the quasi-moderating role of investor demand. Journal of Asian Business and Economic Studies, 30 (4), 296-308.
Moau Yong Toh, Yongmin Zhang (2022). Bank capital and risk adjustment responses to economic uncertainty: Evidence from emerging Southeast Asian economies. Research in International Business and Finance, 60.
- Sin-Huei Ng, Zhehan Zhuang, Moau Yong Toh, Tze-San Ong & Boon-Heng Teh (2022). Exploring herding behavior in an innovative-oriented stock market: evidence from ChiNext. Journal of Applied Economics, 25:1, 523-542.
Moau Yong Toh, Dekui Jia (2021). Do foreign ownership and home-host country distance matter? evidence on the impact of bank market power on liquidity creation in a selected Southeast Asian country. Research in International Business and Finance, 56.
Moau Yong Toh, Christopher Gan, Zhaohua Li. (2020). Bank diversification, competition and liquidity creation: evidence from Malaysian banks. The Singapore Economic Review, 65(4), 1127-56.
Moau Yong Toh (2019). Effects of bank capital on liquidity creation and business diversification: evidence from Malaysia. Journal of Asian Economics, 61, 1-19.
Moau Yong Toh, Christopher Gan, Zhaohua Li (2019). Revisiting the impact of stock market liquidity on bank liquidity creation: evidence from Malaysia. Emerging Markets Finance and Trade, 55(8), 1776-802.
Lu, Ying Fang, Christopher Gan, Baiding Hu, Moau Yong Toh, David A. Cohen (2019). Bank efficiency in New Zealand: a stochastic frontier approach. New Zealand Economic Papers, 53(2), 166-83.