Tong Zhao

PhD student in Finance KU Leuven
Research fellow National Bank of Belgium

Research interests

Financial Intermediation, Industrial Organization
Corporate Finance, Macro-Finance

I will be on the 2025/2026 academic job market.
I will be visiting the Wharton School since September 2025.

tong.zhao@kuleuven.beLinkedIn | Twitter

Working papers

Collateral, Monitoring, and Bank Information Production

- AFA 2025, EFA-DT 2025, CFRC 2025, 3rd Women in Central Banking Workshop, UT Dallas 2025 Finance Conference (poster session), HEC Paris Finance PhD Workshop 2025, LBS Transatlantic Doctoral Conference 2025, Frankfurt Summer School 2025, Tri-City Bridge Workshop 2025, Durham Job Market Paper Conference 2025, NFA 2024 (PhD session), FMA Asia/Pacific 2024, EEA 2024, EALE 2024, 13th MoFiR Workshop on Banking (PhD session), AEFIN 2024 (PhD session), CEBRA 2024 (poster session), University of Zurich, NTNU, KU Leuven, National Bank of Belgium

Collateral and Credit, with Hans Degryse, Olivier De Jonghe, and Luc Laeven

- IBEFA-ASSA 2026, CICF 2025, FMA 2025, IBEFA-FUNCAS 2025, Workshop on Banking and Institutions 2025, ChaMP Workshop 2025, Norges Bank, KU Leuven

Supply Chain Disruptions in Lending Markets with Common Lenders, with Olivier De Jonghe and Yushi Peng

- EARIE 2025

Work in progress

Collateral Constraints and Labor Market Power, with Jin Cao and Honghao Zheng

Research visits

Tilburg University, 2023 Spring
University of Zurich, 2024 Spring
HEC Paris, 2025 Spring

Disclaimer: The views expressed on this website are my own and do not represent the views of the National Bank of Belgium or the Eurosystem.

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