Wan Wan (Julia) Zhu

Wan Wan (Julia) Zhu
Postgraduate Researcher

Job Market Paper

Changes in US Bank Profitability and Risk Post-CEO Turnover: Does the leadership Experience of the New CEO Matter?

The study examines how CEO prior leadership experience affects long-term bank performance and risk after new CEO appointments. Based on a unique hand-built dataset of CEO succession events in large US commercial banks, the study offers robust evidence that CEO’s prior leadership experience improves long-term bank performance and reduces bank risk. The results also suggest that the performance and risk effect is mainly driven by the experience that is obtained from outside the bank group. In addition, the effect is mitigated by the diversification level of banks.



Masters degree from Xiamen University, China.


Leeds University Business School PhD Scholarship, Leeds University Business School, October 2015 - September 2018.

Best Student Presentation Award, WRDTC/P 6th Annual Conference 2017, Sheffield, UK, June 2017

Conference Presentations

June 2018, IFABS 2018 Porto Conference, Porto, Portugal

June 2018, 2018 FMA European Conference, Kristiansand, Norway

April 2018, BAFA 2018 Annual Conference, London, UK

November 2017, BUIRA 5th PhD Symposium, Cardiff, Wales, UK

June 2017, WRDTC/P 6th Annual Conference, Sheffield, UK

July 2012, ICSSSM 2012 9th International Conference, Shanghai, China


Thesis Title

CEO succession in large U.S. listed banks: Do successor characteristics matter?

Thesis Summary

The thesis examines CEO succession in large US banks. The first empirical analysis tests how CEO’s prior leadership experience affect post-succession bank performance and risk. The second empirical analysis focuses on internal successions and investigates what factors drive successor’s compensation change.


Teaching Assistance Experience

 LUBS1280 Mathematical Economics - Undergraduate

LUBS1245 Introductory Management Accounting - Undergraduate


Wanwan Zhu. Changes in US Bank Profitability and Risk Post-CEO Turnover: Does the Leadership Experience of the New CEO Matter? (Working Paper)

Wanwan Zhu. Does the Board Identify CEO Talent? Evidence from US Banks. (Working Paper)

Shun Cai, Wanwan Zhu, Zhaowei Miao. Achieving Supply Chain Agility through Inter-organization Knowledge Sharing: A Research-in-Progress. Service Systems and Service Management (ICSSSM), 2012 9th International Conference, 2-4 July 2012: 829-834.

Wanwan Zhu, Shun Cai, Xi Chen, Zhiwei Peng. The Effect of Trust and Power on Supply Chain Knowledge Sharing [OL]. [2014-01-26]. China Sciencepaper Online, 2014.

Academic References

Referee 1 Name: Professor Francesco Vallascas

Email: F.Vallascas@lubs.leeds.ac.uk

Referee 2 Name: Professor Kevin Keasey

Email: K.Keasey@lubs.leeds.ac.uk