Journal Article

Asset Securitization, Cross Holdings, and Systemic Risk in Banking (with Shuhua Xiao and Shushang Zhu), 2023, Journal of Financial Stability, 67, 101140. https://doi.org/10.1016/j.jfs.2023.101140.

Understanding the Pricing of Currency Risk in Global Equity Markets (Lead Article, with G. Andrew Karolyi), 2022, Journal of Multinational Financial Management, 63, 100727. https://doi.org/10.1016/j.mulfin.2021.100727.

The Sound of Silence: What Do We Know When Insiders Do Not Trade? (with George P. Gao, Qingzhong Ma, and David T. Ng), 2021, Management Science, 68, 7, 4835-4857.  https://doi.org/10.1287/mnsc.2021.4113.

Is Currency Risk Priced in Global Equity Markets? (with G. Andrew Karolyi), 2021, Review of Finance, 25, 3, 863-902.  https://doi.org/10.1093/rof/rfaa026.

Joint Effects of the Liability Network and Portfolio Overlapping on Systemic Financial Risk: Contagion and Rescue, (with Jiali Ma and Shushang Zhu), 2021, Quantitative Finance, 21, 5, 753-770. https://doi.org/10.1080/14697688.2020.1802054. 

Predicting Shareholder Litigation on Insider Trading from Financial Text: An Interpretable Deep Learning Approach, (with Rong Liu, Feng Mai, and Jay Shan), 2020, Information and Management, 57, 8: 103387. https://doi.org/10.1016/j.im.2020.103387. 

Asset Pricing with Extreme Liquidity Risk, 2019, Journal of Empirical Finance, 54, 143-165. https://doi.org/10.1016/j.jempfin.2019.09.002.

A New Partial-Segmentation Approach to Modeling International Stock Returns, (with G. Andrew Karolyi), 2018, Journal of Financial and Quantitative Analysis, 53, 2, 507-546. https://doi.org/10.1017/S0022109017001016.

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Conference Proceeding

Fairness of Classification Using Users’ Social Relationships in Online Peer-To-Peer Lending (with Yanying Li, Wendy Hui Wang, Yue Ning, and Rong Liu), 2020, FATES (Fairness, Accountability, Transparency, Ethics and Society) on the Web, joint with the Web Conference 2020 proceeding, 733-742. https://doi.org/10.1145/3366424.3383557.

Book

Analysis and Forecasting on Chinese Imports and Exports, (with Yi Zhang, Shanying Xu, and Shouyang Wang), Science Press, Beijing, 2005.

Selected Presentations

Do We Do What We Preach for the Environment? A Pilot Study of University Sustainability Initiatives, Leading & Managing in the Digital Era: Shaping the Future with AI and Data Analytics Conference, 2025.

Interpreting Cross-Section Returns of Machine Learning Models: Firm Characteristics and Moderation Effect through LIME, Financial Management Association (FMA) Annual Conference, 2024.

Understanding the Global Equity Greenium, Climate Finance and E. S. and G: Shaping a Sustainable Future, Baruch College, 2024.

Understanding the Global Equity Greenium, American Finance Association Annual Meeting, 2024.

Understanding the Global Equity Greenium, Financial Management Association (FMA) Annual Conference, 2023.

More than Words: Quantifying Colloquial Skepticism toward Firm’s Fundamentals, Financial Management Association (FMA) Annual Conference, 2022.

Predicting Shareholder Litigation on Insider Trading from Financial Text: An Interpretable Deep Learning Approach, Financial Management Association (FMA) Annual Conference, 2020. 

• Semifinalist for Fintech Best Paper Award

Another Look at Currency Risk in International Stock Returns, the 20th Annual Conference of the Multinational Finance Society, Budapest, Hungary, 2018.

• Best Paper Award

Another Look at Currency Risk in International Stock Returns, Institute for Quantitative Investment Research (INQUIRE) EUROPE Seminar, Montreux, Switzerland, 2017.

Size, Value, and Momentum in International Stock Returns: A New Partial-Segmentation Approach, Western Finance Association Annual Conference, 2014.

The Sound of Silence: What Do We Know When Insiders Do Not Trade? U.S. Securities and Exchange Commissions, 2014. 

Asset Pricing with Extreme Liquidity Risk, Eastern Finance Association Annual Conference, 2014.

Size, Value, and Momentum in International Stock Returns: A New Partial-Segmentation Approach, China International Conference in Finance, Chengdu, China, 2014.

The Sound of Silence: What Do We Know When Insiders Do Not Trade? Midwest Finance Association Annual Conference, 2013. 

The Sound of Silence: What Do We Know When Insiders Do Not Trade? Financial Management Association (FMA) Annual Conference, 2013. (a top ten session)

• A top ten session

The Sound of Silence: What Do We Know When Insiders Do Not Trade? SFS Finance Cavalcade, 2013.

Asset Pricing with Extreme Liquidity Risk, European Financial Management Association Annual Meeting, Reading, U.K., 2013.

• John A. Doukas Doctoral Best Paper Award

Asset Pricing with Extreme Liquidity Risk, INQUIRE UK, Cambridge, U.K., 2013.

Asset Pricing with Extreme Liquidity Risk, European Financial Association Annual Meeting, Cambridge, U.K., 2013.

The Sound of Silence: What Do We Know When Insiders Do Not Trade? Northern Finance Association Annual Conference, 2012. 

The Role of Investability Restrictions on Size, Value, and Momentum in International Stock Returns,  the 2011 Australasian Banking and Finance Conference (keynote speech by Dr. Andrew Karolyi), 2011.

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Editorship: Subject Editor, Emerging Market Review; Subject Editor, Journal of Multinational Financial Management

Program Committee: 

• 6th Annual RCF-ECGI Corporate Finance and Governance Conference, 2025

• Western Finance Association Annual Meeting, 2019

Conference Organizer: 

• AI Era in Finance, The Friends of Women in Finance Symposium in Greater New York, 2024.

• The Greater New York Finance Women Inaugural Symposium, 2023.

Reviewer Work: Review of Financial Studies, Management Science, Journal of Financial and Quantitative Analysis, Financial Review, Journal of Banking and Finance, Journal of Empirical Finance, European Financial Management, Journal of International Financial Markets, Institutions & Money, Journal of Financial Services Research, Multinational Finance Journal 

Invited  Discussions: China International Conference in Finance, European Financial Management Association Annual Meeting, Financial Management Association Annual Meeting, Eastern Finance Association Conference, Emerging Trends in Entrepreneurial Finance

Selected Working Papers and Working in Progress

Analysts’ Skepticism in Conference Calls: A Deep Learning Approach. (with Elaine Henry, Rong Liu, and Jujun Huang)

Fueling Jobs or Crowding Out? Government Guidance Funds and Labor Market Dynamics in China. (with Juan Chen, Xiaoyu Chen, and Lingyan Suo)

Interpreting Characteristics Behavior in Empirical Asset Pricing. (with Zequn Li and Steve Yang)

Segmentation at Home. (with Sohnke Bartram, Cheol S. Eun, Kyuseok Lee, and Qinghai Wang) 

Do We Do What We Preach for the Environment? A Pilot Study of University Sustainability Initiatives. (with Tilak Chandana, Rong Liu, and Gregory Prastacos)

Variance Risk Premium and Return Predictability: Evidence from the Chinese SSE 50 ETF Options. (with Zhenyu Cui, Zhiyong Li, and Mei Yu)

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Selected Grants

Co-PI. Academic Female Finance Committee, American Finance Association, AI Era in Finance, The Great New York Finance Symposium for Women (GNY – FSFW).

Co-PI. Institute For Quantitative Investment Research (INQUIRE) Europe, Currency risk and Size, Value, and Momentum Returns around the World. 

Co-PI. SPRINT Program, Schaefer School of Engineering & Science, Stevens Institute of Technology, Fair Machine Learning on Big Financial Data.

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Research Awards and Honors