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Xia (Eliza) Zhang, Ph.D.

Associate Professor
Phone Number
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University of Missouri-Columbia
Xi'an Jiaotong University
Xi'an Jiaotong University


Professor Eliza Zhang is an Associate Professor of Accounting at the University of Washington Tacoma. She teaches financial accounting courses. She conducts research in the areas of credit rating agencies, corporate disclosure, corporate governance, and capital markets.

Professor Zhang’s research portfolio encompasses a diverse array of topics, including the factors influencing credit rating levels and the performance and usage of credit ratings. She also delves into the strategic deployment of managerial discretion over real activities and disclosure to shape capital markets. Additionally, her research scope extends to exploring the influence of the labor force on corporate behavior and stock prices. She has published her research at peer-reviewed, high-quality journals, including Management Science, Contemporary Accounting Research, Journal of Corporate Finance, Journal of Business Finance & Accounting, Journal of Management Accounting Research, Journal of Accounting and Public Policy, and Accounting Horizons.

Professor Zhang holds a Ph.D. in Accounting from the University of Missouri-Columbia and a master's and bachelor's degree in accounting from Xi'an Jiaotong University.

In her spare time, Professor Zhang enjoys hiking, dancing, and yoga, along with reading and meditation.

Scholarly Interests

  • Credit Rating Agencies
  • Corporate Disclosure
  • Capital Markets
  • Corporate Employees
Selected Publications

Brockman, P., Subasi, M., Wang, J. and Zhang, E.X., 2024. Do credit rating agencies learn from the options market? Management Science, In-Press.

Kim, J.B., Zhang, E.X. and Zhong, K., 2021. Does unionization affect the manager-shareholder conflict? Evidence from firm-specific stock price crash risk. Journal of Corporate Finance, 69, p.101991.

Kim, J.B., Wang, J. and Zhang, E.X., 2021. Does real earnings smoothing reduce investors’ perceived risk? Journal of Business Finance & Accounting, 48(9-10), pp.1560-1595.

Zhang, E.X. and Schloetzer, J.D., 2021. Management tenure and the quality of corporate bond ratings. Journal of Management Accounting Research, 33(3), pp.213-235.

Cheng, C.A., Li, S., and Zhang, E.X., 2020. Operating cash flow opacity and stock price crash risk. Journal of Accounting and Public Policy, 39(3), p.106717.

Zhang, E.X., 2020. The impact of cash flow management versus accruals management on credit rating performance and usage. Review of Quantitative Finance and Accounting, 54, pp.1163-1193.

Zhang, E.X., 2018. Do firms manage their credit ratings? Evidence from rating-based contracts. Accounting Horizons, 32(4), pp.163-183.

Khurana, I.K., Pereira, R. and Zhang, E.X., 2018. Is real earnings smoothing harmful? Evidence from firm-specific stock price crash risk. Contemporary Accounting Research, 35(1), pp.558-587.