Research
Publications
Corporate Leadership and Inherited Beliefs about Gender Roles, with Christo Pirinsky and Mengxin Zhao
Journal of Financial and Quantitative Analysis, 2023, 53, 3274-3304
-Summarized in the Harvard Law School Forum on Corporate Governance
A Closer Look at the Effects of Equity Market Liberalization in Emerging Markets, with Jeffrey Pontiff and Mengxin Zhao
Review of Corporate Finance Studies, Forthcoming
Do Cross-Sectional Predictors Contain Systematic Information?, with Joey Engelberg, Jeffrey Pontiff, and Matthew Ringgenberg
Journal of Financial and Quantitative Analysis, 2023, 58, 1172-1201.
-Winner of the Sharpe Award
Analysts and Anomalies, with Joey Engelberg and Jeffrey Pontiff
Journal of Accounting and Economics, 2020, 69, 1-13.
-Media Coverage: Seeking Alpha
Anomalies and News, with Joey Engelberg and Jeffrey Pontiff
Journal of Finance, 2018, 73, 1971-2001.
-Video of me discussing this paper: https://voxeu.org/content/anomalies-and-news
-Media Coverage: New York Times
Cash Savings and Capital Markets, with Mengxin Zhao
Journal of Empirical Finance, 2018, 47, 49-64.
Does Academic Research Destroy Stock Return Predictability?, with Jeffrey Pontiff
Journal of Finance, 2016, 71, 5-32.
-Winner of the First Place Amundi Smith Breeden Award
-Winner of the First Place Roger F. Murray Prize
-Selected Media Coverage: Bloomberg, Economist, Financial Times, Financial Times Magazine, Fortune, MarketWatch,
The Business Cycle, Investor Sentiment, and Costly External Finance, with Mengxin Zhao
Journal of Finance, 2014, 69, 1377-1409.
The Year-End Trading Activities of Institutional Investors: Evidence from Daily Trades, with Gang Hu, Jeffrey Pontiff, and Qinghai Wang
Review of Financial Studies, 2014, 27, 1593-1614.
Why does the Law Matter? Investor Protection and its Effects on Investment, Finance, and Growth, with Tianyu Zhang and Mengxin Zhao
Journal of Finance, 2012, LXVII, 313-350.
-Summarized in the Harvard Law School Forum on Corporate Governance
Journal of Portfolio Management, 2012, 38, 108-116.
Share Issuance and Cash Savings
Journal of Financial Economics, 2011, 99, 693-715.
-Media Coverage: New York Times DealBook
Idiosyncratic Risk, Long-Term Reversal, and Momentum
Journal of Financial and Quantitative Analysis, 2010, 45, 883-906.
-Winner of the Second Place Financial Management Association Best Dissertation in Investments
Costly Arbitrage and Idiosyncratic Risk: Evidence from Short Sellers, with Ying Duan and Gang Hu
Journal of Financial Intermediation, 2010, 19, 564-579.
-Winner of the First Place Chicago Quantitative Analysis Academic Competition
Share Issuance and Cross-Sectional Returns: International Evidence, with Jeffrey Pontiff and Akiko Watanabe
Journal of Financial Economics, 2009, 94, 1-17.
-Winner of the First Place Jensen Award
When is Stock-Picking Likely to be Successful? Evidence from Mutual Funds, with Ying Duan and Gang Hu
Financial Analysts Journal, 2009 65, 55-65.
Working Papers
Social Media and Short Sellers, with Guilong Cai, Tianyu Zhang, and Megnxin Zhao
Retail Investors and Analysts, with Jeffrey Pontiff and Christopher Reilly
Taking Sides on Return Predictability, with Jeffrey Pontiff and Christopher Reilly (R&R at JFE)
Patents and Productivity Growth: Evidence from Global Patents, with Xin Chang, Bohui Zhang, and Wenrui Zhang
Investor Protection and Choice of Share Issuance Mechanism, with Tianyu Zhang and Mengxin Zhao
Debt Issue Motives and Earnings Optimism, with Dino Palazzo
Books
The Handbook of Financial Decision Making, with Gilles Hilary, eds.
Edward Elgar Publishing, Research Handbooks in Money and Finance, 2023
The Case for Shareholder Capitalism: How the Pursuit of Profit Benefits All
Cato Institute Publishing, 2023
Book Chapter
“Financial Decision Making” with Gilles Hilary
The Handbook of Financial Decision Making
Edward Elgar Publishing, Research Handbooks in Money and Finance, 2023