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PhD candidate Linfeng Tian’s passion for research was sparked during her master’s studies in finance. In a course titled “Advanced Investment Management,” she realized that what excited her most was exploring the underlying mechanisms behind financial outcomes. 

“While I worked on an independent project on corporate governance through a research-based course, I became fascinated by the tension involved in developing a research question and by the power of theory and data to shed light on real-world phenomena. The process was both challenging and deeply fulfilling. I actively absorbed new knowledge like a sponge and felt a solid interest in pursuing an academic career,” says Tian.

Linfeng’s research interests lie in empirical corporate finance, with a particular focus on corporate innovation, venture capital and entrepreneurial finance. Her current research examines whether and how heightened future patent litigation risks influence firms’ innovation strategy. Intellectual property rights of patent owners are often challenged or threatened by infringement cases, exposing firms to substantial litigation risks and costs. A notable example is Apple’s lawsuit against Samsung in 2011, in which a U.S. jury found Samsung had willfully infringed on multiple Apple patents and awarded $1.049 billion in damages. This case illustrates the significant legal and financial exposure firms may face, which has become an important factor influencing how they design and implement their innovation efforts. 

“So far in my research project, preliminary findings suggest that exploratory innovation can serve as a precautionary strategy to mitigate expected patent litigation risk within a firm’s own industry. This research offers new insight into how firms adapt their innovation behavior in response to institutional frictions and evolving legal environments,” says Tian. 

Linfeng’s enthusiasm extends into her teaching as well, and this brings another layer of depth and fulfillment to her academic journey. She enjoys helping students develop an intuitive understanding of concepts and connects them with real-world applications.

Linfeng joined the ¾ÅÐãÖ±²¥ School of Business because of its vibrant and collaborative research environment and faculty’s influential contributions to the field of finance. Beyond their academic excellence, faculty members are deeply engaged with students and consistently supportive. The doctoral program has helped her build strong research skills while also learning to embrace uncertainty with patience and to grow through setbacks. Along the way, she has found a generous and supportive community that makes the journey both intellectually rigorous and personally meaningful.

joined the ¾ÅÐãÖ±²¥ School of Business in Fall 2021 as a PhD student specializing in Finance, under the supervision of associate professor .