Haibei Zhao

Haibei Zhao

Perella Department of Finance

College of Business and Economics

Lehigh University

621 Taylor Street, Bethlehem, PA

Email: haz816 at lehigh dot edu

EMPLOYMENT

Assistant Professor of Finance (Theodore A. Lauer Distinguished Professorship of Investments), College of Business and Economics, Lehigh University, 2016-present.


EDUCATION

PhD in Finance, Georgia State University, Atlanta, GA, 2010‒2016.

Master of Accounting, Virginia Tech, Blacksburg, VA, 2008‒2010.

Master in Atmospheric Physics, Chinese Academy of Sciences, Beijing, China, 2005‒2008.

Bachelor of Science in Mathematics, Shandong University, Jinan, China, 2001‒2005.


PUBLICATIONS

1. Hedge Funds: The Good, the Bad, and the Lucky, 2017, with Yong Chen and Mike Cliff. Journal of Financial and Quantitative Analysis 52, 1081-1109.

Presented at Financial Intermediation Research Society Conference 2015, Cornerstone Research, 4th NYSE/Euronext Hedge Fund Conference, Institute for Quantitative Asset Management, Pennsylvania State University, Shanghai University of Finance and Economics, Texas A&M University, University of North Carolina at Chapel Hill, University of Texas at Dallas, University of Virginia, Vienna University of Economics and Business, Virginia Tech, and VU University of Amsterdam.

2. Interfund Lending in Mutual Fund Families: Role in Liquidity Management, 2018, with Vikas Agarwal. Review of Financial Studies, forthcoming.

Presented at 2017 Santiago Finance Workshop, 2017 FIRS, 2017 American Finance Association, 2016 European Finance Association, the Securities and Exchange Commission, the Office of Financial Research, Queens University, Temple University, Tsinghua University, Center for Advanced Financial Research and Learning (CAFRAL), Georgia State University, Université Paris Dauphine, Indian School of Business, Indian Institute of Management Bangalore, and Florida International University.

Media coverage:

GARP: http://www.garp.org/#!/risk-intelligence/detail/a1Z40000003Bs4T/

Barron's: https://www.barrons.com/articles/when-funds-lend-to-one-another-1510369094


WORKING PAPERS

1. Investor Protection and Capital Fragility: Evidence from Hedge Funds Around the World, 2019, with George Aragon and Vikram Nanda.

Revise and resubmit, Review of Financial Studies.

Presented at the 2017 Santiago Finance Workshop, 2017 UNC-Wells Fargo Hedge Fund Research Conference, 4th ESMT Asset Management Conference 2017, CICF 2017, FMA Asia 2016, the First Philly Five Research Symposium 2015, Chinese University of Hong Kong, Texas Tech, and De Paul University.

Scheduled: AFA 2020.

2. Extreme stress and Investor Behavior: Evidence from a Natural Experiment, 2019, with Vikas Agarwal and Ghosh Pulak.

Presented at Washington University in St. Louis, Tilburg University, Cornell University, Tsinghua University, University of Science and Technology of China, CICF 2019, 2018 NSE-NYU Conference on Indian Financial Markets, 2018 India Research Conference at NYU Stern, and 2018 Lehigh College of Business Research Retreat.

Funded by the NSE-NYU Stern School of Business Initiative for the Study of the Indian Capital Markets.

Media coverage: Lehigh Business School Magazine, 2018.

3. What are the Actual Effects of Cash Holdings? Evidence from the Mutual Fund Industry, 2016, with Vikas Agarwal. Presented at 2017 FIRS, 2015 FMA, 2015 Midwest Finance Association Annual Meetings, 27th Australasian Finance and Banking Conference, University of Lausanne, Tsinghua University, Georgia State University, Lehigh University, University of New Hampshire, and Villanova University.

4. Does Job Security Concern Acquiring Managers? 2015, with Di Li. Presented at FMA Asia 2018, 2015 China International Conference in Finance (CICF), 2015 Asian Finance Association (AsianFA) Conference and Georgia State University.


TEACHING

Derivatives, Masters of Analytical Finance, College of Business and Economics, Lehigh University, Fall 2018.

Advanced Topics in Financial Risk Management, Masters of Analytical Finance, College of Business and Economics, Lehigh University, 2017-2018 (X2).

Advanced Topics in Financial Risk Management, undergrad, College of Business and Economics, Lehigh University, 2016-2018 (X6).

Financial Institutions and Risk Management, Robinson College of Business, Georgia State University, Spring 2016.

Corporation Finance, Robinson College of Business, Georgia State University, 2013 - 2015 (X13).


PAPER PRESENTATIONS

American Finance Association, 2020, San Diego (scheduled).

China International Conference in Finance, 2019, Guangzhou, China.

Tsinghua University, 2019.

Lehigh College of Business Research Retreat, 2018, Lehigh University.

Santiago Finance Workshop, 2017, Santiago, Chile.

UNC-Wells Fargo Hedge Fund Research Conference, 2017, New York City.

4th Asset Management Conference, 2017, Berlin, Germany.

China International Conference in Finance, 2017, Hangzhou, China.

Financial Intermediation Research Society Conference, 2017, Hong Kong.

First Philly Five Research Symposium, 2016, Drexel University.

Financial Management Association Annual Meetings 2015, Orlando, Florida.

Financial Intermediation Research Society Conference, 2015, Iceland.

Midwest Finance Association Meetings, 2015, Chicago, IL.

Lehigh University, 2015.

Georgia State University, 2014, 2015.

27th Australasian Finance and Banking Conference, Sydney, 2014.


DISCUSSANT

Midwest Finance Association Meetings, 2015, Chicago, IL (X2).

27th Australasian Finance and Banking Conference, Sydney, 2014.

Financial Management Association Annual Meetings 2014, Nashville, Tennessee.


REFEREE

Journal of Financial and Quantitative Analysis

Journal of Empirical Finance

Journal of Banking and Finance

Journal of Financial Markets

Journal of Financial Research

Pacific Basin Finance Journal


SERVICE CONTRIBUTIONS

Recruiting committee member (X2), Department of Finance, Lehigh University, 2018.

FMA Program Committee, 2017.

Program Committee for Annual Conference on Financial Market Regulation, 2017, 2018.

Recruiting committee member (X2), Department of Finance, Lehigh University, 2016.

External recruiting committee member, Department of Accounting, Lehigh University, 2016.

Tauck Committee, Lehigh University, 2016.

MFA Program Committee, 2015.


AWARDS and GRANTS

NSE-NYU Stern School of Business Initiative for the Study of the Indian Capital Markets, 2018.

Theodore A. Lauer Distinguished Professorship of Investments, Lehigh University, 2018-2021.

Teaching Excellence Award, Robinson College of Business, 2015.

Graduate Student Travel Support, Center for the Economic Analysis of Risk, Georgia State University, 2014.

Charles Williams Scholarship, Robinson College of Business, Georgia State University, 2014.

Max Burns Fellowship, Robinson College of Business, Georgia State University, 2010-2013.


PROFESSIONAL AFFILIATIONS

American Finance Association

Financial Management Association