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Yuehua Tang (唐岳华)

Emerson-Merrill Lynch Associate Professor and UF Term Professor

Coordinator, Finance Ph.D. Program (Brochure)

Warrington College of Business 

University of Florida

Email: yuehua.tang@warrington.ufl.edu

Website: sites.google.com/site/yuehuatang

Curriculum Vitae (PDF)

Research Interests:  Investments, Textual Analysis, Capital Markets, Corporate Finance, Fintech, Climate Finance 

Google Scholar    SSRN Page    UF Webpage

Publications   

15.  “Corporate Climate Risk: Measurements and Responses” (with Qing Li, Derek Shan, and Vincent Yao), 2023, Review of Financial Studies, forthcoming. [Appendix] [Climate Risk Data]

14.  “Peer versus Pure Benchmarks in the Compensation of Mutual Fund Managers” (with Richard Evans, Juan-Pedro Gomez, and Linlin Ma), 2023, Journal of Financial and Quantitative Analysis, forthcoming.

13.  “Customers as Friendly Shareholders: Uncovering the Complex Mutual Fund-Broker Relationship” (with Nitish Kumar and Kelsey Wei), 2023, Management Science, forthcoming. 

12.  “Non-Standard Errors” (with many co-authors, a crowd-sourced project with #fincap), 2023. Journal of Finance, forthcoming. [Slides]

11.  “Artificial Market Timing in Mutual Funds” (with Jeffrey Busse, Jing Ding, and Lei Jiang), 2022, Journal of Financial and Quantitative Analysis, forthcoming. [Appendix] 

10.  “Fund Manager Skill in an Era of Globalization: Offshore Concentration and Fund Performance” (with John Bai, Chi Wan, and Zafer Yuksel), 2022, Journal of Financial Economics, forthcoming. [Appendix] [Data]

9.  “Transaction Costs, Portfolio Characteristics, and Mutual Fund Performance” (with Jeffrey Busse, Tarun Chordia, and Lei Jiang), Management Science, 2021, vol. 67, 1227-1248. [Appendix] [Abel Noser Data Matching Appendix]

8.  “Double-Adjusted Mutual Fund Performance” (with Jeffrey Busse and Lei Jiang), Review of Asset Pricing Studies, 2021, vol. 11, 169-208. 

7.  “Prime (Information) Brokerage” (with Nitish Kumar, Kevin Mullally, and Sugata Ray), Journal of Financial Economics, 2020, vol. 137, 371-391. [Appendix] 

6.  “Portfolio Manager Compensation in the U.S. Mutual Fund Industry” (with Linlin Ma and Juan-Pedro Gomez), Journal of Finance, 2019, vol. 74, 587-638. [Appendix] 

5.  “Portfolio Manager Ownership and Mutual Fund Risk Taking” (with Linlin Ma), Management Science, 2019, vol. 65, 5518-5534. [Appendix]

4.  “When Does Competition Mitigate Agency Problems?”, Journal of Corporate Finance, 2018, vol. 51, 258-274.

3.  “Can Information Be Locked-up? Informed Trading Ahead of Macro-News Announcements” (with Gennaro Bernile and Jianfeng Hu), Journal of Financial Economics, 2016, vol. 121, 496-520. [Appendix] 

2.  “Mandatory Portfolio Disclosure, Stock Liquidity, and Mutual Fund Performance” (with Vikas Agarwal, Kevin Mullally, and Baozhong Yang), Journal of Finance, 2015, vol. 70, 2733-2776. [Appendix]

1.  “Uncovering Hedge Fund Skill from the Portfolio Holdings They Hide” (with Vikas Agarwal, Wei Jiang, and Baozhong Yang), Journal of Finance, 2013, vol. 68, 739-783. [Appendix] 


Working Papers

1.  [New Paper] “Are Mutual Fund Managers Paid for Performance? Evidence from U.S. Administrative Earnings Data” (with John Bai, Linlin Ma, and Kevin Mullally), 2023

2.  [New Version] “Can ChatGPT Forecast Stock Price Movements? Return Predictability and Large Language Models” (with Alejandro Lopez-Lira), 2023.  

3.  [New Version] “Surviving the Fintech Disruption” (with Wei Jiang, Rachel Xiao, and Vincent Yao), 2023, Revise & Resubmit. 

4.  “Thematic Investing in Mutual Funds” (with John Bai, Chi Wan, and Zafer Yuksel), 2023.  

5.  [New Paper] “Security Comes at a Cost: The Economic Consequences of U.S. Government Interventions in Foreign Investments” (with Sichong Chen and Andy Naranjo), 2024.  

6.  [Survey Paper] “Managerial Incentives in the Mutual Fund Industry” (with Linlin Ma and Yuan Wang), 2024

7.  “Why Do We Have So Many Funds? The Organizational Structure of Mutual Fund Families” (with Jennifer Huang, Zhigang Qiu, and Xiaoyu Xu), 2019 

Editorial Board

Senior Editor, Oxford Research Encyclopedia of Economics and Finance, July 2019 –

Academic Experience

UF Term Professor, University of Florida, August 2021 - 

Emerson-Merrill Lynch Professor, University of Florida, January 2020 - 

Associate Professor of Finance (with tenure), University of Florida, August 2020 - 

Assistant Professor of Finance, University of Florida, August 2016 - July 2020

Visiting Assistant Professor of Finance, Emory University, Fall 2014

Assistant Professor of Finance, Singapore Management University, July 2013-June 2016

Fellowship, Grants, and Awards

1. BlackRock Best Paper Award, The 36th Australasian Finance and Banking Conference, 2023

2. AMTD FinTech Centre Prize, Asian Finance Association Conference, 2022

3. Yihong Xia Best Paper Award, China International Conference in Finance, 2018

4. First Prize, Chicago Quantitative Alliance (CQA) Academic Competition, 2017

5. Best Paper Award, Conference of the Paul Woolley Centre for the Study of Capital Market Dysfunctionality, 2015

6. Dean’s Teaching Honor List, LKC School of Business, Singapore Management University, 2015

7. First Prize, Chicago Quantitative Alliance CQAsia Academic Competition, 2014

8. D.S. Lee Foundation Fellowship, Singapore Management University, 2014-2016

9. Singapore Ministry of Education Tier 1 Research Grant, 2013-2014

10. Georgia State University Dissertation Grant, 2012

11. Stephen Smith Research Award, Georgia State University, 2012

12. Best Ph.D. Student Paper Award, Eastern Finance Association, 2011

13. Third Prize, Chicago Quantitative Alliance (CQA) Academic Competition, 2010

14. Q-Group Research Grant, 2009