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Hanjiang Zhang (张寒江 ）
Associate Professor of Finance
Safeco Endowed Distinguished Professor
Carson College of Business, Washington State University
Hanjiang Zhang is an Associate Professor of Finance and the Safeco Endowed Distinguished Professor at Washington State University. She serves on the Presidential Committee for Investment Review and Plan Oversight for the WSU Retirement Plan.
Hanjiang’s research interests are in the areas of investments, mutual funds, and retirement savings. Her research has been published in the Journal of Finance, Review of Financial Studies, Journal of Financial and Quantitative Analysis, and American Economic Review: Papers and Proceedings, among others. Her work has received multiple awards, including the Best Paper on Investments at the Western Finance Association Conference, the Best Paper Award in Investments at the Financial Management Association Conference, and the Harry Markowitz Best Paper Award from the Journal of Investment Management.
Prior to joining Washington State University, she worked as a Financial Economist at the Office of Asset Management at the Securities and Exchange Commission, and taught at the University of Texas at Austin as a Visiting Assistant Professor and at Nanyang Technological University in Singapore as an Assistant Professor.
Personal Information
Phone (509) 335 - 3797
Email hanjiang.zhang@wsu.edu
Research Interest Investments, Mutual Funds
Education Post Doctoral Fellow, Finance, University of Texas at Austin
Ph.D, Economics, George Mason University
Research
Publications
"Investment Style Volatility and Mutual Fund Performance" (with Keith C. Brown and W. V. Harlow)
Journal of Investment Management, 19, 2021.
Best Paper Award in Investments, Financial Management Association European Conference
"The Costs of Tax-Efficient Asset Management: Evidence from Mutual Funds" (with Clemens Sialm)
Journal of Finance, 75 (2), 2020, 735-777
American Finance Association Meeting Paper
"Fire Sales and Impediments to Liquidity Provision in the Corporate Bond Market" (with Jay Wang and Xinde Zhang)
Journal of Financial and Quantitative Analysis, 55 (8), 2020, 2613-2640
"Do Shocks to Manager Personal Wealth Affect Risk Taking in Delegated Portfolios?" (with Veronika K. Pool, Noah Stoffman, and Scott E. Yonker)
Review of Financial Studies, 32(4), 2019, 1457-1493.
Western Finance Association Meeting Paper ; SFS Finance Cavalcade Conference Paper ;
The Financial Intermediation Research Society (FIRS) paper
"Defined Contribution Pension Plans: Sticky or Discerning Money?" (with Laura Starks and Clemens Sialm),
Journal of Finance 70 (2), 2015, 805-838.
Kepos Capital Award for the Best Paper on Investments, Western Finance Association
Western Finance Association Meeting Paper ; SFS Finance Cavalcade Conference Paper
"Defined Contribution Pension Plans and Mutual Fund Flows" (with Laura Starks and Clemens Sialm)
Journal of Investment Management, 16, 2018.
"Defined Contribution Pension Plans: Mutual Fund Asset Allocation Changes" (with Laura Starks and Clemens Sialm),
American Economic Review Papers & Proceedings 105 (5), 2015, 805-838.
American Economic Association Meeting Paper
"Risk Shifting and Mutual Fund Performance" (with Jennifer Huang and Clemens Sialm),
Review of Financial Studies 24 (8), 2011, 2575-2616.
Western Finance Association Meeting Paper
Working Papers
"Financial Reporting Fraud and Delegated Investment" (with Robert Davidson and Christo Pirinsky)
Revise and Resubmit at Journal of Accounting Research
WFA 2025 Meeting Paper
"Firm Shocks and Retirement Savings" (with Clemens Sialm)
AFA 2026 Meeting Paper
"Active Machine Learning Based Trading and Mutual Fund Performance" (with Xiaowen Hu and Maximilian Rohrer) - (Draft coming soon)
"Do Hedge Funds Hedge? Evidence from Risk Gap" (with Yong Chen)
"Informed Trading of Bond Mutual Fund and Syndicated Loan Events" (with Xiaonan Ma and Xinde Zhang) - (Draft coming soon)
"Investor Sentiment and Mutual Fund Anomaly Timing Skills" (with George Jiang and Ao Wang) - (Draft coming soon)
"Asset Fire Sales, Liquidity Provision and Mutual Fund Performance"
Other Publications In Economics
"Monetary Policy Surprises and Interest Rates: Choosing between the Inflation-Revelation and Excess Sensitivity Hypotheses" (with Willem Thorbecke), Southern Economic Journal 75 (4), 2009, 1114-1122.
"The Effect of Exchange Rate Changes on China’s Labor-Intensive Manufacturing Exports" (with Willem Thorbecke), Pacific Economic Review 14 (3), 2009, 398-409.
Teaching
Intermediate Financial Management, 2017 - present, Carson College of Business, Washington State University
Investment Management, 2016, McCombs School of Business, the University of Texas at Austin
Investments, 2011-2015, Nanyang Business School, Nanyang Technological University, Singapore
Business Finance, McCombs School of Business, the University of Texas at Austin
Mathematical Economics, George Mason University
© 2018 Hanjiang Zhang hanjiangz@yahoo.com
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