Pan Tong, PhD, Professor. She teaches “corporate finance”, “advanced financial management”, “basic finance theory” for undergraduate and postgraduate students. Her research interests are finance and investment behavior of listed company, corporate governance and firm’s payout policy. She was selected National Academic Leader (reserved) in Accounting in 2007. She has published more than 20 papers at Economic Research Journal, Management World, Accounting Research, Finance Research, China Accounting Review and so on. She got the annual excellent paper of Accounting Society of China several times. Her representative publication are as follow: “Debt financing, the sources of debt, and the firms’ investment behavior (Economic Research Journal, 2005.5)”, “Financial structure and firms’ investment: the research based on stockholder-bondholder conflicts (2007, Peking University Press)”.