Research

Publications

[1] "Do FinTech Mortgage Lenders Fill the Credit Gap? Evidence from Natural Disasters", with Linda Allen and Yao Shen, 2023, Journal of Financial and Quantitative Analysis 58(8), 3342-3383.

• Conferences: CICF 2021, CIRF 2021, International Banking, Economics, and Finance Association Summer Meeting 2021, NFA 2019, FMA 2019, FMA Europe 2019, EEA 2019, Fordham University Global PhD Colloquium 2019

• Honors: China International Risk Forum Best Paper Award 2021, Fordham University Global PhD Colloquium Outstanding Student Paper Award 2019

[2] What's Your Bank's Fintech Score? Technology Integrating Banking into the Broker Intermediation Model (with Linda Allen, Yi Tang, and Alev Yildirim)

• Forthcoming at The Journal of Financial Services Research

• Conferences: World Finance & Banking Symposium 2024, INFORMS Annual Meeting 2023, University of Edinburgh Economics of Financial Technology Conference 2023, XJTLU AI and Big Data in Accounting and Finance Research Conference 2023, AFA 2022, CICF 2022, AsianFA 2022, LAPE-FINEST Workshop 2022, CIRF 2021, SFA 2021, World Finance Conference 2021, International Conference Frontiers in International Finance and Banking 2021, FMA 2020, Villanova University Webinars in Financial Intermediation 2020, Fordham University Fintech Conference 2018

• Honors: FMA Best Paper Award Semifinalist 2020

Working Papers (SSRN)

[1] Social Networks as Information Conduits for Online Credit Supply and Demand (with Linda Allen and Lin Peng) 

• R&R at Management Science

• Conferences: MFA 2021, SWFA 2021, CIRF 2021, CICF 2019, Summer Institute of Finance Conference 2019, Sun Yat-sen University Finance International Conference Joint with Geneva Finance Research Institute 2019, HKU FinTech Conference 2019, FMA Europe 2019, SWUFE-Baruch Research Symposium 2019, ADBI-CUHK-SFI FinTech, Social Finance, and Financial Stability Conference 2018

• Honors: FMA Europe Best Paper Award Semifinalist 2019

[2] Customer Capital and Deposit Stability (with Peter R. Demerjian, Joel F. Houston and Hongyu Shan)

• R&R at The Accounting Review

• Conferences: MFA 2023, CIRF 2022, AsianFA 2022, FIFI 2021, CICF 2021, CAFR 2021, FMA 2021, Dayton Summer Finance Workshop 2021, Financial Markets and Corporate Governance Conference 2021, New Zealand Finance Meeting 2021, Chinese Finance Annual Meeting 2021, Shanghai Lixin Virtual Conference on New Frontiers in the Interdisciplinary Research of Finance 2021

• Honors: FMA Best Paper Award Semifinalist 2021

[3] Lending in the Shadows: Shadow Bank Financial Fragility and Mortgage Credit

• Conferences and Seminars: Asian Finance Association Annual Conference 2024, FMA Applied Finance Conference 2024, China Europe International Business School 2023, Syracuse University 2022, Modern Risk Society 2023, Financial Markets and Corporate Governance Conference 2021 

• Abstract: This paper proposes a novel measure of financial fragility for shadow bank mortgage lenders. The overall financial fragility of the shadow bank sector has been consistently increasing in recent years, reaching its highest value of the past decade in 2021. Financially fragile shadow banks take advantage of favorable regulatory spillover shocks to build their market share in the riskier segment of the market and lower their underwriting standards more than other shadow banks. Meanwhile, fragile shadow banks' credit supply is less elastic in response to demand shocks. These results underline the importance of more regulatory attention to the fragility and destabilizing effects of shadow bank lenders.

[4] How Do Managerial Styles Differentiate Bank Reactions to Systemic Crises? 

• Conferences: EEA 2019, EFA 2019, FMA 2018, FMA Europe 2018, FMA Asia Doctoral Student Consortium 2018, FMA Doctoral Student Consortium 2017, FMA Special Ph.D. Presentations 2017, Financial Markets and Corporate Governance Conference PhD Symposium 2018

• Honors: FMA Europe Best Paper Award Semifinalist 2018, Financial Markets and Corporate Governance Conference PhD Symposium Best Paper Award Shortlisted 2018

Work in Progress

[1] Bank Customer Capital, Soft Information Acquisition, and Small Business Lending (with Hongyu Shan)

[2] Access to Finance and Investments During China's Corporate Bond Rating Crisis (with Erasmo Giambona and Ye Wang)

[3] Bank Cyber Market Power and Deposit Stability (with Linda Allen and Lin Peng)

[4] Product Market Connections and Transmission of Credit Shocks (with Hongyu Shan)