[1] "One Fundamental and Two Taxes: When Does a Tobin Tax Reduce Financial Price Volatility?" with Yongheng Deng and Shang-Jin Wei, Journal of Financial Economics, 2018, 130, 663-692. [link]

• NBER working paper No. 19974

• Best Paper Awards in China International Conference in Finance, 2014

• Best Policy Paper in FIRN Annual Conference, 2014

[2] "A Liberalization Spillover: From Equities to Loans" with Shang-Jin Wei and Yifan Zhou, Journal of Financial and Quantitative Analysis, 2024, 59, 395-433. [link]

• NBER working paper No. 27305

[3] “Regulatory Uncertainty and TARP”, with Yupeng Lin and Anand Srinivasan, Journal of Financial Stability, 2025, 76, 101367. [link]

[4] “Credit Rating Purchases and S&P 500 Membership Decisions”, with Shang-Jin Wei and Kun Li, Management Science, 2026, forthcoming. [link]

• NBER working paper No. 29365

[5] “TARP from the Banks’ Perspective: Evidence from Conference Call”, with Jean Helwege, Journal of Financial Intermediation, 2025, 64, 101180. [link]

[6] “A Hidden Cost of ETF Investing: Retail Demand Shocks and Limits to Arbitrage”, with with Terry Zhang and Yaodong Zhang,  Journal of Banking and Finance, 2025, forthcoming. [link]

[1]  “Bank Tax and Deposit Competition: Evidence from U.S. State Taxes”, with Alessio Galluzzi and Guangqian Pan, under review 

[2] “Securitization and Accounting Quality: Evidence from Collateralized Loan Obligations”, with Xiaoli Hu, Yupeng Lin and Sichao Wang, R&R 

[3] “Unintended Consequences of China’s Double-Reduction Policy: Its Immediate and Intergenerational Impacts”,  with Xin Meng, Guangqian Pan, and Guochang Zhao, under review

[4] “Does Securitization Change Bank Lending Relationship”, with Yupeng Lin and Yihui Wang, under review

[5] “Human and Machine: Bank AI Adoption and Relationship Lending”, with Cuili Qian, Yupeng Lin, and Ke Mai

[6] “When Firms are Watched by Patent Trolls: A Feedback Effect of Patent Troll Litigation Risk”, with Kun Li and Yaodong Zhang

[7] “A Picture or a Thousand Words? Director Portrait on Proxy Statement”, with Kun Li and Le Zhang