Joint with Hui Chen, Hongye Guo, Yan Ji
Journal of Finance, Forthcoming, August 2023
Featured in Media (NBER, Quartz), "Even Competition Is Bad For Consumers When The Prize Is Monopoly."
Featured in Media (Knowledge at Wharton), "Why Increased Firm Competition Can Cause a Spiral of Distress."Joint with Leonid Kogan, Wei Wu
Journal of Finance, Forthcoming, November 2022Winner of NASDAQ Award for the Best Paper on Asset Pricing at Western Finance Association (WFA)
Joint with Andrew W. Lo, Xiang Fang, Harald Uhlig
Annual Review of Financial Economics (2023), Vol. 15, No. 1, 407-432Joint with Xu Cheng, Zhipeng Liao
Econometrica (2022), Vol. 90, No. 2, 685-713Winner of AAII Award for the Best Paper on Investments at Midwestern Finance Association (MFA)
Joint with Hui Chen, Leonid Kogan
Journal of Finance (2024), Vol. 79, No. 2, 843-902Winner of Best Paper Award at the Red Rock Finance Conference
Joint with Lucian Taylor, Wei Wang, Wenyu Wang
Journal of Financial Economics (2021), Vol. 142, Issue 3, 975-1000
Editor's choice at the JFE, December 2021
Winner of Jacobs Levy Center Outstanding Research Paper Prize
Winner of Best Paper Award at China International Conference in Macroeconomics
Featured in HKUST University Annual Report as "research breakthroughs" of the year, "Insights into Product Market Competition"Joint with Yan Ji
Management Science (2021), Vol. 67, No. 9, 5569-5585Joint with Andrew W. Lo, Ameya Muley, Harald Uhlig
Annual Review of Financial Economics (2020), Vol. 12, No. 1, 95-140
Featured by Economics One (of John Taylor), "Macro Model Comparison Research Takes Off."
Mentioned by IMF Speeches on Monetary and Capital Markets, "Alternative Monetary Policy Paths and Downside Risk."Joint with Yan Ji, David Reibstein, Wei Wu
Journal of Finance (2021), Vol. 76, No.1, 211-265
Winner of Marshall Blume Prize in Financial Research at the Rodney L. White Center
Winner of PwC Finance Forum Best Paper AwardJoint with Lisha Chen, Zhihua Qiao
Journal of the American Statistical Association (2013), Volume 108, Issue 504Joint with David Pollard, Harrison Zhou
Annals of Statistics (2012), Vol. 40, No.5, 2421-2451Winner of I. R. Savage Award by the American Statistical Association
Joint with Xiao Cen, Leonid Kogan, Wei Wu
April 2023The constructed dataset is the first-ever to contain the detailed information on fund managers' compensation and career history, having been compiled based on the US Census Bureau's LEHD program and leveraging various "big" textual data sources.
Featured in Media (NBER Digest), "Fund Flows, Returns, and Mutual Fund Managers’ Pay."
Featured in Media (Investment Executive), "It’s AUM that matters most to managers’ careers."
Featured in Media (Institutional Money Magazine, in German)Joint with Yan Ji, Di Tian, Pengfei Wang
February 2024Winner of Best Paper Award on Asset Pricing at the Northern Finance Association (NFA)
Joint with Itay Goldstein, Yan Ji
October 2023Winner of Jacob Gold & Associates Best Paper Prize at the ASU Sonoran Winter Finance Conference
Winner of Best Paper Award at the Melbourne Asset Pricing Meeting
Winner of Best Paper Award at the China FinTech Research Conference
Featured in Media (Knowledge at Wharton, Fair Observer), "How AI-powered Collusion in Stock Trading Could Hurt Price Formation."
Featured in Media (BOSS Magazine), "The Rise of Trading Bots."Joint with Wei Wu
August 2023
Winner of Richard A. Crowell Memorial Prize, Second Prize, PanAgora Asset Management
Winner of CFA Institute Asia-Pacific Research Exchange Award (NZFM)Joint with Wei Wang, Wenyu Wang
August 2022Featured in Media (Knowledge at Wharton, Fortune), "How Loan Market Concentration Hurts Distressed Corporate Borrowers."
Winner of MFM Dissertation Award at the Becker Friedman Institute
Joint with Adrien Verdelhan
March 2017