Department of Accountancy | Staff List

Prof. WONG Man Kong (黃敏剛教授)

Executive Program - Mergers & Acquisitions (Columbia Business School)
Executive Program - PCMPCL (Harvard Business School)
PhD - Accounting (The Hong Kong Polytechnic University)
BA (Hons) - Accountancy (The Hong Kong Polytechnic University)

Associate Professor

Contact Information

E-mail:
Address:	13-236, Lau Ming Wai Academic Building City University of Hong Kong
Phone:	+852 34428544
Fax:	+852 34420349
ac.raymond@cityu.edu.hk

Research Areas

Corporate Governance
Auditing
Ethical Issues in Auditing
Earnings Management Research
Corporate Finance

Professional Qualifications

Qualification	Certifying Organization
Fellow	The Hong Kong Chartered Governance Institute
Fellow	CPA (Australia)
Fellow	The Association of Chartered Certified Accountants

Teaching Areas

Financial Reporting; Auditing; Taxation

Selected Publications

Journal Publications and Reviews
Wong, Raymond M. K.; Dak-Adzaklo, Cephas Simon Peter; Xede, James; Yeung, Tracy H.Y. / Cross-Border Regulatory Enforcement and Firms’ Asymmetric Cost Behavior. November 2025; In: Journal of International Accounting Research. Vol. 24, No. 3, pp. 143-174 Wong, Raymond M.K.; Dak-Adzaklo, Cephas Simon Peter; Lo, Agnes W.Y. / Debt Choice in the Regulated Competition Era. April 2024; In: Journal of International Money and Finance. Vol. 142 Dak-Adzaklo, Cephas Simon Peter; Wong, Raymond M.K. / Corporate Governance Reforms, Societal Trust, and Corporate Financial Policies. February 2024; In: Journal of Corporate Finance. Vol. 84 Lo, Agnes W.Y.; Lin, Kenny Z.; Wong, Raymond M. K. / Does Availability of Audit Partners Affect Audit Quality? Evidence from China. April 2022; In: Journal of Accounting, Auditing and Finance. Vol. 37, No. 2, pp. 407-439 ZHANG, Rui; WONG, Raymond M. K.; LO, Agnes W. Y.; TIAN, Gaoliang / Can mandatory dual audit reduce the cost of equity? Evidence from China. 2022; In: Accounting and Business Research. Vol. 52, No. 3, pp. 291-320 Zhang, Rui; Wong, Raymond M. K.; Tian, Gaoliang; Fonseka, Mohan M. / Positive spillover effect and audit quality: a study of cancelling China’s dual audit system. March 2021; In: Accounting and Finance. Vol. 61, No. 1, pp. 205-239 Lei, Hong Weng (Lawrence); Kim, Chansog (Francis); Wong, Raymond M. K. / An examination of labor unions and firm’s tax ethical behavior in the USA. June 2020; In: Asian Journal of Business Ethics. Vol. 9, No. 1, pp. 93–120 McGowan, Michele M. ; Chan, Siew H.; Yurova, Yuliya V.; Liu, Chunhui; Wong, Raymond M. K / The Influence of Institutional Regulatory Pressure on Nonprofit Hospital Audit Quality. December 2018; In: Journal of Governmental & Nonprofit Accounting. Vol. 7, No. 1, pp. 1-23 Wong, Raymond M. K.; Firth, Michael A.; Lo, Agnes W. Y. / The impact of litigation risk on the association between audit quality and auditor size: Evidence from China. October 2018; In: Journal of International Financial Management and Accounting. Vol. 29, No. 3, pp. 280-311 Lo, Agnes W.Y.; Wong, Raymond M.K. / Silence is golden? Evidence from disclosing related-party transactions in China. September 2016; In: Journal of Accounting and Public Policy. Vol. 35, No. 5, pp. 540-564 Wong, Raymond M. K.; Lo, Agnes W. Y.; Firth, Michael / Managing discretionary accruals and book-tax differences in anticipation of tax rate increases: Evidence from China. June 2015; In: Journal of International Financial Management & Accounting. Vol. 26, No. 2, pp. 188-222 Wong, Raymond M. K.; Kim, Jeong-Bon; Lo, Agnes W. Y. / Are Related-Party Sales Value-Adding or Value-Destroying? Evidence from China. February 2015; In: Journal of International Financial Management & Accounting. Vol. 26, No. 1, pp. 1-38 Firth, Michael A.; Lan Mo, Phyllis Lai; Wong, Raymond M. K. / Auditors’ reporting conservatism after regulatory sanctions: Evidence from china. January 2014; In: Journal of International Accounting Research. Vol. 13, No. 2, pp. 1-24 Firth, Michael; Mo, Phyllis L.L.; Wong, Raymond M.K. / Auditors' Organizational Form, Legal Liability, and Reporting Conservatism: Evidence from China. March 2012; In: Contemporary Accounting Research. Vol. 29, No. 1, pp. 57-93 Lo, Agnes W.Y.; Wong, Raymond M.K. / An empirical study of voluntary transfer pricing disclosures in China. November 2011; In: Journal of Accounting and Public Policy. Vol. 30, No. 6, pp. 607-628 Lo, Agnes W.Y.; Wong, Raymond M.K.; Firth, Michael / Can corporate governance deter management from manipulating earnings? Evidence from related-party sales transactions in China. April 2010; In: Journal of Corporate Finance. Vol. 16, No. 2, pp. 225-235 Lo, Agnes W. Y.; Wong, Raymond M. K.; Firth, Michael / Tax, Financial Reporting, and Tunneling Incentives for Income Shifting: An Empirical Analysis of the Transfer Pricing Behavior of Chinese-Listed Companies. 2010; In: Journal of the American Taxation Association. Vol. 32, No. 2, pp. 1-26 Lo, Agnes W.Y.; Wong, Raymond M.K. / Tax Compliance and Audit Adjustment: An Investigation of the Transfer Pricing Methodologies. September 2007; In: International Tax Journal. Vol. 33, No. 5, pp. 59-70 Firth, Michael; Mo, Phyllis L.L.; Wong, Raymond M.K. / Financial statement frauds and auditor sanctions: An analysis of enforcement actions in China. December 2005; In: Journal of Business Ethics. Vol. 62, No. 4, pp. 367-381

Journal Publications and Reviews

Wong, Raymond M. K.; Dak-Adzaklo, Cephas Simon Peter; Xede, James; Yeung, Tracy H.Y. / Cross-Border Regulatory Enforcement and Firms’ Asymmetric Cost Behavior. November 2025; In: Journal of International Accounting Research. Vol. 24, No. 3, pp. 143-174
Wong, Raymond M.K.; Dak-Adzaklo, Cephas Simon Peter; Lo, Agnes W.Y. / Debt Choice in the Regulated Competition Era. April 2024; In: Journal of International Money and Finance. Vol. 142
Dak-Adzaklo, Cephas Simon Peter; Wong, Raymond M.K. / Corporate Governance Reforms, Societal Trust, and Corporate Financial Policies. February 2024; In: Journal of Corporate Finance. Vol. 84
Lo, Agnes W.Y.; Lin, Kenny Z.; Wong, Raymond M. K. / Does Availability of Audit Partners Affect Audit Quality? Evidence from China. April 2022; In: Journal of Accounting, Auditing and Finance. Vol. 37, No. 2, pp. 407-439
ZHANG, Rui; WONG, Raymond M. K.; LO, Agnes W. Y.; TIAN, Gaoliang / Can mandatory dual audit reduce the cost of equity? Evidence from China. 2022; In: Accounting and Business Research. Vol. 52, No. 3, pp. 291-320
Zhang, Rui; Wong, Raymond M. K.; Tian, Gaoliang; Fonseka, Mohan M. / Positive spillover effect and audit quality: a study of cancelling China’s dual audit system. March 2021; In: Accounting and Finance. Vol. 61, No. 1, pp. 205-239
Lei, Hong Weng (Lawrence); Kim, Chansog (Francis); Wong, Raymond M. K. / An examination of labor unions and firm’s tax ethical behavior in the USA. June 2020; In: Asian Journal of Business Ethics. Vol. 9, No. 1, pp. 93–120
McGowan, Michele M. ; Chan, Siew H.; Yurova, Yuliya V.; Liu, Chunhui; Wong, Raymond M. K / The Influence of Institutional Regulatory Pressure on Nonprofit Hospital Audit Quality. December 2018; In: Journal of Governmental & Nonprofit Accounting. Vol. 7, No. 1, pp. 1-23
Wong, Raymond M. K.; Firth, Michael A.; Lo, Agnes W. Y. / The impact of litigation risk on the association between audit quality and auditor size: Evidence from China. October 2018; In: Journal of International Financial Management and Accounting. Vol. 29, No. 3, pp. 280-311
Lo, Agnes W.Y.; Wong, Raymond M.K. / Silence is golden? Evidence from disclosing related-party transactions in China. September 2016; In: Journal of Accounting and Public Policy. Vol. 35, No. 5, pp. 540-564
Wong, Raymond M. K.; Lo, Agnes W. Y.; Firth, Michael / Managing discretionary accruals and book-tax differences in anticipation of tax rate increases: Evidence from China. June 2015; In: Journal of International Financial Management & Accounting. Vol. 26, No. 2, pp. 188-222
Wong, Raymond M. K.; Kim, Jeong-Bon; Lo, Agnes W. Y. / Are Related-Party Sales Value-Adding or Value-Destroying? Evidence from China. February 2015; In: Journal of International Financial Management & Accounting. Vol. 26, No. 1, pp. 1-38
Firth, Michael A.; Lan Mo, Phyllis Lai; Wong, Raymond M. K. / Auditors’ reporting conservatism after regulatory sanctions: Evidence from china. January 2014; In: Journal of International Accounting Research. Vol. 13, No. 2, pp. 1-24
Firth, Michael; Mo, Phyllis L.L.; Wong, Raymond M.K. / Auditors' Organizational Form, Legal Liability, and Reporting Conservatism: Evidence from China. March 2012; In: Contemporary Accounting Research. Vol. 29, No. 1, pp. 57-93
Lo, Agnes W.Y.; Wong, Raymond M.K. / An empirical study of voluntary transfer pricing disclosures in China. November 2011; In: Journal of Accounting and Public Policy. Vol. 30, No. 6, pp. 607-628
Lo, Agnes W.Y.; Wong, Raymond M.K.; Firth, Michael / Can corporate governance deter management from manipulating earnings? Evidence from related-party sales transactions in China. April 2010; In: Journal of Corporate Finance. Vol. 16, No. 2, pp. 225-235
Lo, Agnes W. Y.; Wong, Raymond M. K.; Firth, Michael / Tax, Financial Reporting, and Tunneling Incentives for Income Shifting: An Empirical Analysis of the Transfer Pricing Behavior of Chinese-Listed Companies. 2010; In: Journal of the American Taxation Association. Vol. 32, No. 2, pp. 1-26
Lo, Agnes W.Y.; Wong, Raymond M.K. / Tax Compliance and Audit Adjustment: An Investigation of the Transfer Pricing Methodologies. September 2007; In: International Tax Journal. Vol. 33, No. 5, pp. 59-70
Firth, Michael; Mo, Phyllis L.L.; Wong, Raymond M.K. / Financial statement frauds and auditor sanctions: An analysis of enforcement actions in China. December 2005; In: Journal of Business Ethics. Vol. 62, No. 4, pp. 367-381

Conference Papers
Yeung, Hau Yi; Wong, Raymond M. K. / Does Relative Societal Trust Influence Audit Quality? Evidence from Multinational Group Audits. August 2022; 2022 American Accounting Association Annual Meeting, 11/08/2022 - 12/08/2022, San Diego, United States. Dak-Adzaklo, Cephas Simon Peter; Ofosu, Emmanuel; Wong, Raymond M.K. / Product Market Threats and Auditor Choice. June 2022; 46th Canadian Academic Accounting Association Annual Conference (CAAA 2022), 09/06/2022 - 11/06/2022, Saskatoon, Canada. WONG, Raymond M. K.; Lo, Agnes W. Y. / Litigation Risk and Individual Auditor Turnover. May 2021; European Accounting Association Virtual Congress 2021 (EAA 2021), 26/05/2021 - 28/05/2021, Brussels, Belgium. WONG, RAYMOND M. K.; Lo, Agnes W. Y. / International Exposure and Tax Avoidance Activities: An Investigation of Chinese Listed Companies. May 2018; 41st Annual Congress of the European Accounting Association, EAA 2018, 30/05/2018 - 01/06/2018, Milano, Italy. Lo, Agnes W. Y.; WONG, Raymond M. K. ; WONG, William / A Trade-off between Corporate Social Responsibility and Shareholders' Expectations. August 2016; 11th International Conference on Interdisciplinary Social Sciences, 02/08/2016 - 04/08/2016, London, United Kingdom. Lo, Agnes W. Y.; Wong, Raymond M. K. / Does Tax Education Improve Compliance? Evidence from Hong Kong. July 2016; 2016 International Symposium on Teaching, Education, and Learning , 03/07/2016 - 05/07/2016, Nagoya, Japan.

Conference Papers

Yeung, Hau Yi; Wong, Raymond M. K. / Does Relative Societal Trust Influence Audit Quality? Evidence from Multinational Group Audits. August 2022; 2022 American Accounting Association Annual Meeting, 11/08/2022 - 12/08/2022, San Diego, United States.
Dak-Adzaklo, Cephas Simon Peter; Ofosu, Emmanuel; Wong, Raymond M.K. / Product Market Threats and Auditor Choice. June 2022; 46th Canadian Academic Accounting Association Annual Conference (CAAA 2022), 09/06/2022 - 11/06/2022, Saskatoon, Canada.
WONG, Raymond M. K.; Lo, Agnes W. Y. / Litigation Risk and Individual Auditor Turnover. May 2021; European Accounting Association Virtual Congress 2021 (EAA 2021), 26/05/2021 - 28/05/2021, Brussels, Belgium.
WONG, RAYMOND M. K.; Lo, Agnes W. Y. / International Exposure and Tax Avoidance Activities: An Investigation of Chinese Listed Companies. May 2018; 41st Annual Congress of the European Accounting Association, EAA 2018, 30/05/2018 - 01/06/2018, Milano, Italy.
Lo, Agnes W. Y.; WONG, Raymond M. K. ; WONG, William / A Trade-off between Corporate Social Responsibility and Shareholders' Expectations. August 2016; 11th International Conference on Interdisciplinary Social Sciences, 02/08/2016 - 04/08/2016, London, United Kingdom.
Lo, Agnes W. Y.; Wong, Raymond M. K. / Does Tax Education Improve Compliance? Evidence from Hong Kong. July 2016; 2016 International Symposium on Teaching, Education, and Learning , 03/07/2016 - 05/07/2016, Nagoya, Japan.

Chapters, Conference Papers, Creative and Literary Works
Lo, Agnes W.Y.; Wong, Raymond M.K.; Firth, Michael A. / Can Corporate Governance Deter Management from Manipulating Earnings? Evidence from Related-Party Sales Transactions in China. March 2019; The Economics of Transfer Pricing. pp. 863-873

Scholarly Books, Monographs, Reports and Case Studies
Li, Linda Chelan; Mo, Phyllis; Lin, Feng; Chan, Ho Mun; Wong, Michael; Kam, Iris; Wong, Raymond; Holloway, David; Yip, David; Liang, Yuqing; Yue, Fangmin; Ho, John / Hong Kong Professional Services in the Co-evolving Belt-Road Initiative: Innovative Agency for Sustainable Development. June 2020;