Jinfei Sheng

Assistant Professor of Finance

Merage School of Business, University of California Irvine

Address: 4291 Pereira Drive, Irvine, CA 92697

Email: jinfei.sheng[at]uci.edu

Research Interests:

Empirical Asset Pricing, Investments, Behavioral Finance, FinTech, Financial Intermediation

Curriculum Vitae |SSRN | Google Scholar | UCI Webpage

Working Papers

1. Asset Pricing in the Information Age: Employee Expectations and Stock Returns

  • Conferences: Tel Aviv Finance Conference, FIRS, "Machine Learning and Finance: The New Empirical Asset Pricing" at University of Chicago Booth, NFA, AFA Poster Session

  • Media coverage: AllAboutAlpha

2. The Attention Trigger Effect: Macro News and Efficient Processing of Micro News

(with David Hirshleifer)

  • Conferences: EFA, RCFS/RAPS Conference, Conference on Financial Economics and Accounting, Yale Whitebox Advisors Conference, AFA Poster Session

3. Macroeconomic Attention and Announcement Risk Premia

(with Adlai Fisher and Charles Martineau) [Internet Appendix]

  • Revise and Resubmit at Review of Financial Studies

  • Conferences: ASU Sonoran Winter Finance Conference, FIRS, NFA, CICF, Ivey Symposium on Intelligent Investing, Econometric Society Asia Meeting

  • Media coverage: Canadian Investment Review

4. Do Cryptocurrencies Have Fundamental Values?

(with Yukun Liu and Wanyi Wang)

  • Conferences: Conference on Financial Economics and Accounting (NYU), AFA Poster Session, CARF Research Workshop on FinTech, 2nd Future of Financial Information Conference, Shanghai-Edinburgh Fintech Conference, Miami Research Conference on Machine Learning and Business.

  • Media coverage: Forbes, Duke FinReg Blog

5. Cheaper Is Not Better: On the 'Superior' Performance of High-Fee Mutual Funds

(with Mikhail Simutin and Terry Zhang)

  • Conferences: EFA, NFA, CICF, Finance Down Under Conference, AFA Poster Session, LA Finance Day, Conference on Mutual Funds, Hedge Funds and Factor Investing

  • Media coverage: Citywire, Canadian Investment Review, Reddit

6. Do Mutual Funds Walk the Talk? A Textual Analysis of Risk Disclosure by Mutual Funds

(with Nan Xu and Lu Zheng)

7. How Does Soft Information Affect External Firm Financing? Evidence from Online Employee Ratings

(with Thomas Chemmanur and Harshit Rajaiya)

8. Are Demographics Responsible for the Declining Interest Rates: Evidence from U.S. Metropolitan Areas

(with Jack Favilukis and Terry Zhang)

  • Conferences: AFA, NFA, MFA

9. The Real Effects of Government Intervention: Firm-level Evidence from TARP

    • Conferences: AEA Poster Session, NFA, Econometric Society Summer Meeting

10. Do Investors Affect Financial Analysts' Behaviors? Evidence from Short Sellers

(with Yun Ke, Kin Lo, and Jenny Zhang)

  • Conferences: AAA, CAAA, LBS TADC