Assistant Professor of Finance and Real Estate, CUHK Business School, Chinese University of Hong Kong, Aug 2018 - present
Assistant Professor of Finance, Erasmus School of Economics, Erasmus University Rotterdam, Sept 2016 - July 2018
Ph.D. in Finance, Department of Finance, Chinese University of Hong Kong, Aug 2012 - July 2016
B.A. in Finance, Guanghua School of Management, Peking University, Sept 2008 - July 2012
- Product Market Threats and Stock Crash Risk (with Si Li), 2019, Management Science 65 (9), 4011–4031 .
- Peer Effects of Corporate Social Responsibility (with Jie Cao, Hao Liang), 2019, Management Science 65 (12), 5487–5503.
- Does Change in the Information Environment Affect Financing Choices? (with Xu Li, Chen Lin), 2019, Management Science 65 (12), 5676–5696.
Selected Working Papers (SSRN):
- Option Return Predictability ( with Jie Cao, Bing Han, Qing Tong) -- RR at Review of Financial Studies
- The Calendar Effects of the Idiosyncratic-Volatility Puzzle: A Tale of Two Days? (with Jie Cao, Tarun Chordia) -- RR at Management Science
- Implied Volatility Changes and Corporate Bond Returns (with Jie Cao, Xiao Xiao, Amit Goyal) -- NFA (2019)
- ESG Preference, Institutional Trading, and Stock Return Patterns (with Sheridan Titman, Xintong Zhan, and Weiming Zhang) Previously circulated under the title “ESG Preference and Market Efficiency: Evidence from Mispricing and Institutional Trading”. -- CICF (2019), NFA (2019)
- Volatility Uncertainty and the Cross-Section of Option Returns (with Jie Cao, Aurelio Vasquez, Xiao Xiao) -- AFA (2020), CICF (2018), NFA (2018), SFS Cavalcade AP (2018), CDI (2018)
- Option Trading and Stock Price Informativeness (with Jie Cao, Amit Goyal, Sai Ke) -- WFA (2019), SFS Cavalcade AP (2019), CDI (2018)
- Options Trading and Corporate Debt Structure (with Jie Cao, Michael Hertzel , Jie Xu) -- FMA Asia (2019), FMA Europe (2019), FMA (2019)
- Smart Beta, "Smarter" Flows (with Jie Cao, Jason Hsu, Zhanbing Xiao) -- CICF (2017), NFA (2018), 1st World Symposium on Investment Research (2018)
- Patent Quality and Firm Value: Evidence from Patent Examiners Busyness (with Tao Shu, Xuan Tian) -- CICF (2018)
Selected Research Grants:
- Early Career Scheme (Principal Investigator), 2019-2021, Hong Kong Research Grant Council, HK$450,000 (US$57,000).
- General Research Fund (Co-Investigator), 2019-2022, Hong Kong Research Grant Council, HK$830,600 (US$128,000).
- Alternative Risk Premia Research Grant of the Paris–Dauphine House of Finance and Unigestion, 2019, €10,000.
- Canadian Derivatives Institute (CDI) Research Grant (x2), 2016-2018, CA$50,000.
- General Research Fund (Co-Investigator), 2015-2017, Hong Kong Research Grant Council, HK$413,500 (US$53,000).
Selected Honors & Awards:
- AAM–CAMRI Prize in Asset Management, Asia Asset Management and National University of Singapore, 2019, US$15,000
- ETF Research Academy Award of the Paris–Dauphine House of Finance and Lyxor Asset Management, 2018, €5,000.
- Best Paper Award, The 26th Conference on the Theories and Practices of Securities and Financial Markets, 2018.
- Chicago Quantitative Alliance (CQA) Academic Competition, Chicago, 2017.
- Chicago Quantitative Alliance Asia (CQAsia) Academic Competition, Hong Kong, 2016.
- Zephyr Prize, Best Paper in Corporate Finance, The 28th Australian Finance & Banking Conference, 2015.
- AFA Student Travel Grant, 2015.
- Outstanding Paper Award, The 9th International Conference on Asia-Pacific Financial Market, 2014.
- Best Paper Award, The 22nd Conference on the Theories and Practices of Securities and Financial Markets, 2014.
Research Featured in News:
- "A Look at ESG’s Influence on Market Efficiency", Canadian Investment Review, October 10, 2019.
- "Does Busyness Affect Patent Quality?", China Business Knowledge @ CUHK, April 11, 2019.
- "Does CSR Influence Our Investment Behaviour?", China Business Knowledge @ CUHK, January 17, 2019.
- "Passive Funds Have Increased Asset Management Competition", written by Beverly Chandler @ www.etfexpress.com, November 15, 2018.
- "ETFs Create Opportunities for Active Managers", written by George Geddes @ www.etfstream.com, November 13, 2018.
- "What Role Has Passive Management Left for Active?", LYXOR Asset Management Research Publication, November 2018.
- "Whats Hot: ESG Exposure and Portfolio Construction", The official blog of BNP Paribas Asset Management, October, 2018.
- "How Smart Beta Shakes Up the Investing World", China Business Knowledge @ CUHK, March 19, 2018.
- “Factor ETFs Raise Active Bar” written by Larry Swedroe @ www.etf.com, June 5, 2017.
- "Effects of Smart Beta ETFs on Mutual Funds", CXO Advisory Group Investing Notes, May 25, 2017.
- "Sure Win: New Study on Option Pricing Suggests Arbitrage Opportunities", China Business Knowledge @ CUHK, September 1, 2016.
- "Doing Well By Doing Good: The Impact of CSR on Competitors", China Business Knowledge @ CUHK, May 5, 2016.
- "Option Strategies Based on Factor Sorts", CXO Advisory Group Investing Notes, December 22, 2015.
- “CSR Strategies Affect the Value and Practice of Peer Firms”, 3BL Media, September 24, 2015.
- "Peer Effects of Corporate Social Responsibility", Value Walk, September 22, 2015.