Xinxin Li

Associate Professor, Finance and International Business
School: School of Business
Phone: (607) 274-3936
Office: Business School 415
Specialty: Corporate Finance, Investment Policy, Capital Structure

Dr. Xinxin Li is an Associate Professor of Finance in the Department of Finance and International Business at Ithaca College. She joined Ithaca College in Fall 2018 after earning her Ph.D. in Finance from the University of North Carolina at Charlotte. Her primary research interests lie in corporate finance, including mergers and acquisitions, capital structure, and investment policy. Dr. Li’s work has been published in leading finance journals such as Review of Quantitative Finance and Accounting , Quarterly Journal of Finance , Review of Financial Economics , among others.

Dr. Li has taught a wide range of undergraduate and graduate-level courses, including Business Finance, International Finance, Introduction to Personal Finance, Introduction to Python in Finance, Personal Financial Planning and Wealth Management, Financial Markets and Institutions, and Finance and Economics for the MBA Entertainment Industry. Outside of academia, she enjoys traveling, watching movies, and exploring international cuisines.

Recent Publications
  • Ji, S. and Li, X, forthcoming 2026, Capital Structure Persistency and Seasoned Equity Financing: Evidence from Zero-Leverage and Levered Firms. Review of Quantitative Finance and Accounting
  • Charoenwong, C., Li, X, and Ng, C., 2024, To Pay Points or Not in Mortgage Refinance: a Capital Budgeting Analysis. Review of Finance Case Research
  • Li, X. and Ng, C., 2022. How to improve grades earned in big Business Finance classes, Journal of Financial Education, 48(2), pp.11-22
  • Charoenwong, C.; Li, X.; and Ng, C.K., 2022. How To Create Cash Flows That Give A Priori IRRs?. Southwestern Business Administration Journal, 20(1), pp.1-8
  • Li, X. and Ng, C., 2021. To Pay Points or Not in Mortgage Finance: a Capital Budgeting Analysis. Review of Finance Case Research, 19(1), pp.89-96
  • Ji, S., King, T.H.D. and Li, X., 2021. Human capital cost and investment policy. Review of Financial Economics, 39(3), pp.254-279.
  • Chen, J., King, T.H.D. and Li, X., 2018. National culture and governance on bondholder wealth: Evidence from joint ventures and strategic alliances around the world. Quarterly Journal of Finance, 8(01), p.1840003.
Work in Progress
  • Exploring Zero-Leverage Firms: The Influence of Debt-Free Status on Seasoned Equity Offerings

  • Corporate Diversification Discount and Human Capital Relatedness