Published Papers

Forthcoming at Management Science 2023

  SSRN version


Journal of Financial & Quantitative Analysis 58-2, 647-667, 2023

Final version   SSRN version

Winner of 2016 CFA best paper award Asian FA (Bangkok, Thailand)


Journal of Financial Economics 145, 762-787, 2022  

Final version   SSRN version

NBER Working paper W29212


Journal of Financial & Quantitative Analysis 55, 2211-2245, 2020

Final version   SSRN version


Journal of Financial Economics 127, 519-545, 2018

Final version   SSRN version

Winner of 23rd SFM conference best paper award (first prize)

Winner of 2015 CAFM conference outstanding paper award

Media mentions and features:

Harvard Business Review Online, June 18, 2018.

Wall Street Journal November 2, 2018

Forbes Online October 1, 2018

Business Insider, December 21, 2018

Ladders, June 20, 2018


Harvard Business Review Online, June 18, 2018


Journal of Financial & Quantitative Analysis 53, 1911-1935, 2018 

Final version   SSRN version


Federal Reserve Bank of San Francisco Economic Letter 2004-27 

Working Papers

Reject & resubmit Review of Finance

Presented at Singapore Scholars Symposium, FMA, Nanyang Technological University

Media mentions: Twitter mentions, Bloomberg coverage

Reject & resubmit Review of Financial Studies

Presented at EFA, Research Conference (CAF-Hyderabad, India), Nanyang Technological University

Presented at the Eastern Finance Association, EFMA, 11th Annual Hedge Fund and Private Equity Research Conference, HKUST, NUS, SMU-Singapore, University of Denver Summer Conference, Virginia Tech

Presented AFA, ABFER, FMCG, Global AI Finance Research Conference, Hong Kong Polytechnic University, Massey University, Monash University, Nanyang Technological University, SMU-Singapore, University of Adelaide, University of Melbourne, University of Queensland, University of Sydney, University of Technology Sydney, UWA Blockchain and Cryptocurrency Conference, and Vietnam Symposium in Banking and Finance.

Presented at the CICF, HK-Poly U, FMA, FMA-Asia, Frontiers in Finance Conference, National Taiwan University, SFM Conference (Kaohsiung, Taiwan), SMU-Singapore, SMU Finance Summer Camp, University of Sydney, Wuhan University

Presented at 12th Annual Hedge Fund and Private Equity Research Conference, Singapore Symposium, CICF, 6th Winter MFS conference, LBS, NUS, SMU-Singapore


Older Papers

Presented at EFA, SMU Finance Summer Camp, Nanyang Technological University, University of Queensland, PBC School of Finance (Tsinghua)

Media mentions: Wall Street Journal 2016

Presented at Nanyang Technological University, CICF-Xiamen, FMA