My Curriculum Vitae

My SSRN Page

Publications: 

1. Reference-Dependent Preferences and the Risk-Return Tradeoff, (joint with Jianfeng Yu and Jinghua Yan), 2017, Journal of Financial Economics 123, 395-414.

2012 Q-Group Research Award, 2014 Chicago Quantitative Alliance Academic Competition (Third Prize)

2. Lottery-Related Anomalies: The Role of Reference-Dependent Preferences, (joint with Li An, Jian Wang, and Jianfeng Yu), 2020, Management Science 66, 473-501.

2016 CQAsia Academic Competition (First Prize)

3. Time-Varying Demand for Lottery: Speculation Ahead of Earning Announcements, (joint with Bibo Liu, Jianfeng Yu, and Shen Zhao), 2020, Journal of Financial Economics 138, 789-817.

4. Aggregate Expected Investment Growth and Stock Market Returns  (joint with Jun Li and Jianfeng Yu), 2021, Journal of Monetary Economics 117, 618-638.

5. The Expected Investment Growth Premium  (joint with Jun Li and Jianfeng Yu ), Financial Management 50(4), 905-933.

2018 PanAgora Crowell (Third Prize)

6. Is the Size Premium Really Driven by Firm Size?  (joint with Zhiyao Chen and Jun Li ), 2021, Journal of Investing 30, 127-143.

7. General Purpose Technologies as Systematic Risk in Global Stock Markets  (joint with Po-Hsuan Hsu and Wei Yang ), 2022, Journal of Money, Credit and Banking 54, 1141-1173 (Lead article).

     8. So Sue Me! The Cross Section of Stock Returns Related to Patent Infringement Allegations (joint with Fred Bereskin, Po-Hsuan Hsu, and William   Latham), 2023, Journal of Banking and Finance 148, 106740.

9. Investor Sentiment and the Pricing of Characteristics-Based Factors  (joint with Zhuo Chen, Bibo Liu, Jianfeng Yu, and Zhengwei Wang), 2025, Review of Financial Studies, forthcoming.

    10. Growth of Firms under Injunction Risk (joint with Fred Bereskin, and Po-Hsuan Hsu), 2025, Journal of Law and Economics, forthcoming.

Working Papers:

1. Characteristics-Based Factors (joint with Zhuo Chen, Bibo Liu, Jianfeng Yu, and Zhengwei Wang)

     2. Extrapolative Market Participation (joint with Wanbin Pan, Zhiwei Su, and Jianfeng Yu)

     3. Extrapolation and Risk-Return Tradeoffs (joint with Qi Liu, Zhiwei Su, and Jianfeng Yu)

     4. Knowledge Network and Asset Pricing (joint with Po-Hsuan Hsu, Erica X. N. Li, Gang Zhang)