Xu Zhe received her Ph.D. degree in 2018 from Northeast Normal University, Changchun, China. Now she is a lecturer at the College of Economics and Management, Shenyang Agricultural University, Liaoning, China. Her general research interests are in the areas of policy assessment and corporate finance. She is now leading the Ministry of Education in China Project of Humanities and Social Sciences (19YJC790161) et al. She has published over three papers as the first author.