论文著作
  • Chang, Chun, Yao-Min Chiang, Yiming Qian, and Jay Ritter, 'Pre-market Trading and IPO Pricing', Review of Financial Studies.

    Chang, Chun, Kaiji Chen, Daniel Waggoner, and Tao Zha, 'Trends and Cycles in China's Macroeconomics', NBER Macroeconomics Annual.

    G. King, Xiuli Chao, and I. Duenyas, 'Dynamic customer acquisition and retention management', Production and Operations Management.

    Chen, Hong, and Murray Frank, 'Are Direct Investments by the Federal Reserve a Good Idea? A Corporate Finance Perspective', Quarterly Journal of Finance.

    Chen, Hong, and Heng-Qing Ye, 'An Examination of Some Factory Physics Principles', Journal of the Operational Research Society of China.

    Wu, Owen Q., and Hong Chen, 'Chain-to-chain competition under demand uncertainty', Journal of the Operations Research Society of China.

    Murray Z. Frank, Tao Shen, 'Investment and theWeighted Average Cost of Capital', Journal of Financial Economics.

    Zhiguo He, Peter Kondor, 'Inefficient Investment Waves', Econometrica.

    Hou, Kewei, and Roger K. Loh, 'Have we solved the idiosyncratic volatility puzzle?', Journal of Financial Economics.

    Jiang, Zhan, and Erik Lie, 'Cash Holding Adjustments and Managerial Entrenchment', Journal of Corporate Finance.

    Yajun Wang, Hong Liu, 'Market Making with Asymmetric Information and Inventory Risk', Journal of Economic Theory.

    Min Dai, Peifan Li, Hong Liu, Yajun Wang, 'Portfolio Choice with Market Closure and Implications for Liquidity Premia', Management Science.

    Liu, Zheng, Jianjun Miao, and Tao Zha, 'Land Prices and Unemployment', Journal of Monetary Economics.

    He, Jie, Jun Qian, and Philip E. Strahan, 'Does the Market Understand Ratings Shopping? Predicting MBS Losses with Yields', Review of Financial Studies.

    钱军, '学术前沿 (人民论坛杂志社主办)', 中国金融改革的市场化进程前瞻.

    Ng, Lilian, Fei Wu, Jing Yu, and Bohui Zhang, 'Foreign Investor Heterogeneity and Stock Liquidity Around the World', Review of Finance.

    Garvey, Ryan, Tao Huang, and Fei Wu, 'Why do traders choose dark markets?', Journal of Banking and Finance.

    刘元秀、胡援成和吴飞, '管理者职业经历影响公司现金持有水平吗?', 经济管理.

    Chen, N., Liu, X. and Yao, D.D., 'An Optimization View of Financial Systemic Risk Modeling: Network Effect and Market Liquidity Effect.', Operations Research.

    Xu, H., Yao, D.D., and Zheng, S., 'Optimal Policies for a Two-Product Inventory System under a Flexible Substitution Scheme', Production and Operations Management.

    Yao, D.D., Zhou, S. and Zhuang, W., 'oint Replenishment and Transshipment -- Asymptotics and Bounds', Production and Operations Management.

    Ye, H. and Yao, D.D., 'Diffusion Limit of Fair Resource Control --- Stationarity and Interchange of Limits', Mathematics of Operations Research.

    Capponi, A., Chen, P.-C. and Yao, D.D., 'Liability Concentration and Losses in Financial Networks: Comparisons via Majorization', Operations Research.

    Tian, Xuan, Gregory Udell, and Xiaoyun Yu, 'Disciplining Delegated Monitors: When Venture Capitalists Fail to Prevent Fraud by Their IPO Firms', Journal of Accounting and Economics.

    Lin, M.-H., and Anming Zhang, 'Hub congestion pricing Discriminatory passenger charges', Economics of Transportation.

    Li, Haitao, Yuewu Xu, and Xiaoyan Zhang, 'No-Arbitrage Restriction and Hedge Fund Performance Evaluation', Journal of Financial and Quantitative Analysis.

    Sibley, Steve, Yanchu Wang, Yuhang Xing, and Xiaoyan Zhang, 'The Information Content of The Sentiment Index', Journal of Banking and Finance.

  • Bates, Timothy, William Jackson, and William D. Bradford, 'Are Minority-Owned Businesses Under-served by the Private Equity Market? Evidence from the Venture-Capital Industry', Small Business Economics.

    Chang, Charles, Paul Moon Sub Choi, and Seth H. Huang, 'Do Poorly Governed Acquirers Transfer Wealth to Targets in Cross-Border Acquisitions?', Financial Management (USA).

    Chang, Charles, and Emily Lin, 'Cash-futures basis and the impact of market maturity, informed trading, and expiration effects', International Review of Economics and Finance.

    Chang, Chun, Zheng Liu, and Mark M. Spiegel, 'Capital Controls and Optimal Chinese Monetary Policy', Journal of Monetary Economics.

    X.Zhao, Q. He and S. Ross, 'Tollbooth Tandem Queues with Infinite Homogeneous Servers', Journal of Applied Probability.

    D. C. Yao, X. Zhao, J. Wu, 'Optimal control policy for a Brownian inventory system with concave ordering cost', Journal of Applied Probability.

    X.Zhao, X. Gong, C. Shi, and H. Zhang, 'Approximation algorithms for perishable inventory systems', Operations Research.

    Boxiao Chen; Xiuli Chao; Yan Fu; Margaret Strumolo; Michael Tamor, 'Potential Natural Gas Impact on Cost Efficient Capacity Planning for Automakers and Electricity Generators in a Carbon Constrained World', SAE International Journal of Materials and Manufacturing.

    Y. Dai and Xiuli Chao, 'Price delegation and salesforce contract design with asymmetric risk aversion coe cient of sales agents', International Journal of Production Economics.

    Chen, Hong, Qu Qian, and Anming Zhang, 'Would allowing privately funded health care reduce the public waiting time? Theory and empirical evidence from Canadian joint replacement surgery data', Production and Operations Management.

    Chen, Son-Nan, Pao-Peng Hsu, and Chang-Yi Li, 'Pricing credit-risky bonds and spread options with modeling the credit-spread term structures under the two-dimensional Markov-modulated jump-diffusion', Quantitative Finance.

    Li, Chang-Yi, Son-Nan Chen, and Shih-Kuei Lin, 'Pricing derivatives with modeling CO2 emission allowance using a regime-switching jump diffusion model: with regime-switching risk premium', European Journal of Finance.

    Xu, Xiaoyan, Chunlei Wang, and Shijun Cheng, 'Myopic Investor or Active Monitor? The Role of Institutional Investors in Corporate Innovation', International Journal of Financial Research.

    Chiu, Tzu-Kuan, and Yi-Hsin Wang, 'Determinants of social disclosure quality in Taiwan: An application of stakeholder theory', Journal of Business Ethics.

    Chiu, Tzu-Kuan, 'Factors influencing microfinance engagements by formal financial institutions', Journal of Business Ethics.

    Hong Chen, Murray Z. Frank, 'Are Direct Investments by the Federal Reserve a Good Idea? A Corporate Finance Perspective', Quarterly Journal of Finance.

    Ming Guo, Hui Ou-Yang, 'Feedback Trading between Fundamental Information and Non-fundamental Information', Review of Financial Studies.

    Han, Bing, and Yi Zhou, 'Understanding the Term Structure of Credit Default Swap Spreads', Journal of Empirical Finance.

    Cheng, Ing-Haw, Harrison Hong, and Jose A. Scheinkman, 'Yesterday's Heroes: Compensation and Risk at Financial Firms', Journal of Finance.

    Hong, Harrison, Ilan Kremer, Jeffrey D. Kubik, Jianping Mei, and Michael Moses, 'Ordering, Revenue and Anchoring in Art Auctions', RAND Journal of Economics.

    Hou, Kewei, Chen Xue, and Lu Zhang, 'Digesting Anomalies: An Investment Approach', Review of Financial Studies.

    Ravi Jagannathan, David Matsab, Iwan Meierc, Vefa Tarhand, 'Why do firms use high discount rates?', Journal of Financial Economics.

    Morten Sorensen, Ravi Jagannathan, 'Public Market Equivalent and Private Equity Performance', Financial Analysts Journal.

    Ravi Jagannathan, Andrei Jirnyi, Ann Guenther Sherman, 'Share Auctions of Initial Public Offerings: Global Evidence', Journal of Financial Intermediation.

    Srikant Marakani, Ravi Jagannathan, 'Price Dividend Ratio Factors: Proxies For Long Run Risk', Review of Asset Pricing Studies.

    Thomas Marschak, J. George Shanthikumar and Junjie Zhou, 'A Newsvendor Who Chooses Informational effort', Production and Operations Management.

    Moshe Shakeda and J. George Shanthikumar, 'Multivariate Conditional Hazard Rate Functions - An Overview', Applied Stochastic Models in Business and Industry.

    Jiang, Fuxiu, Zhan Jiang, Kenneth A. Kim, and Min Zhang, 'Family-firm Risk-taking: Does religion matter', Journal of Corporate Finance.

    Jiang, Zhan, and Erik Lie, 'The Adjustment Speed In Corporate Cash Holdings', Journal of Corporate Finance.

    Chen, Jason V., and Feng Li, 'Discussion of Textual Analysis and International Financial Reporting: Large Sample Evidence', Journal of Accounting and Economics.

    Huasheng Gao, Jarrad Harford, Kai Li, 'CEO Turnover-Performance Sensitivities in Private Firms', Journal of Financial and Quantitative Analysis.

    Gao, H., and K. Li, 'A Comparison of CEO Pay-Performance Sensitivity in Privately-Held and Public Firms', Journal of Corporate Finance.

    Levi, M., K. Li, and F. Zhang, 'Are Women More Likely to Seek Advice than Men? Evidence from the Boardroom', Journal of Risk and Financial Management.

    Cao, Charles, Grant Farnsworth, Bing Liang, and Andrew Lo, 'Liquidity Costs, Return Smoothing, and Investor Flows: Evidence from a Separate Account Platform', Management Science.

    Cao, Charles, Bradley A. Goldie, Bing Liang, and Lubomir Petrasek, 'What Is the Nature of Hedge Fund Manager Skills? Evidence from the Risk Arbitrage Strategy', Journal of Financial and Quantitative Analysis.

    Min Dai, Chen Yang, Yifei Zhong, Hong Liu, 'Optimal Consumption and Investment with Asymmetric Long-term/Short-term Capital Gain Tax Rates', Review of Financial Studies.

    Min Dai, Hong Liu, Chen Yang, Yifei Zhong, 'Optimal Tax Timing with Asymmetric Long-Term/Short-Term Capital Gains Tax', Review of Financial Studies.

    Zheng Liu and Mark M. Spiegel, 'Optimal Monetary Policy and Capital Account Restrictions in a Small Open Economy', IMF Economic Review.

    Chun Chang, Zheng Liu, and Mark M. Spiegel, 'Capital Controls and Optimal Chinese Monetary Policy', Journal of Monetary Economics.

    Liu Zheng, 'Discussion of Notarpietro and Siviero', Journal of Money, Credit and Banking.

    Kevin X.D. Huang, Zheng Liu, and Qi Zhu, 'Temptation and Self-Control: Some Evidence and Applications', Journal of Money, Credit and Banking.

    Qian, Jun, Philip E. Strahan, and Zhishu Yang, 'The Impact of Incentives and Communication Costs on Information Production and Use: Evidence from Bank Lending', Journal of Finance.

    Lu, L., J.-S. Song, H. Zhang, 'Optimal and asymptotically optimal policies for assemble-to-order N- and W-systems', Naval Research Logistics.

    Andres Almazan, Adolfode Motta, Sheridan Titman, 'Debt, labor markets, and the creation and destruction of firms', Journal of Financial Economics.

    Casey Dougal, Christopher A. Parsons, Sheridan Titman, 'Urban Vibrancy and Corporate Growth', Journal of Finance.

    Libo Sun,Sheridan D. Titman, Garry J. Twite, 'REIT and Commercial Real Estate Returns: A Postmortem of the Financial Crisis', Real Estate Economics.

    Suresh Sundaresan, Zhenyu Wang, 'On the Design of Contingent Capital with a Market Trigger', Journal of Finance.

    Huang, Tao, Fei Wu, Jin Yu, and Bohui Zhang, 'Political risk and dividend policy: Evidence from international political crises', Journal of International Business Studies.

    Huang, Tao, Fei Wu, Jing Yu, and Bohui Zhang, 'International Political Risk and Government Bond Pricing', Journal of Banking and Finance.

    Pan, Deng, Jing Shi, Fei Wu, and Bohui Zhang, 'Investor Heterogeneity and Commonality in Stock Return and Liquidity', Economic Systems.

    Huang, Tao, Jin Yu, Fei Wu, and Bohui Zhang, 'Political uncertainty and dividend policy: Evidence from international political crises', Journal of International Business Studies.

    Garvey, Ryan, and Fei Wu, 'Adaptive Trading and Longevity', Journal of Behavioral Finance.

    桂林、张琦和吴飞, '分利行为、舆论监督与政府治理:内生政府治理机制', 经济学(季刊).

    Robert Jarrow, Liheng Xu, 'Bank Runs and Self-Insured Bank Deposits', The Quarterly Review of Economics and Finance.

    Tang, Dragon, Feng Tian, and Hong Yan, 'Internal Control Quality and Credit Default Swap Spreads', Accounting Horizons.

    Carlson, Murray, David Chapman, Ron Kaniel, and Hong Yan, 'Asset Return Predictability in a Heterogeneous Agent Equilibrium Model', Quarterly Journal of Finance.

    Bhattacharya, Utpal, Alexander, Borisov, and Xiaoyun Yu, 'Firm Mortality and Natal Financial Care', Journal of Financial and Quantitative Analysis.

    Gannetti, Mariassunta and Xiaoyun yu, 'Economic Development and Relationship-Based Financing', Review of Corporate Finance Studies.

    Gannett, Mariassunta, Guanmin Liao and Xiaoyun Yu, 'The Brain Gain of Corporate Boards: Evidence from China', Journal of Finance.

    Stambaugh, Robert, Jianfeng Yu and Yu Yuan, 'Arbitrage Asymmetry and the Idiosyncratic Volatility Puzzle', Journal of Finance.

    Yuan, Yu, 'Market-Wide Attention, Trading, and Stock Returns', Journal of Financial Economics.

    Chang, Chun ; Chen, Kaiji ; Zha, Tao, 'Trends and Cycles in China's Macroeconomy', NBER Macroeconomics Annual.

    Lo, W., Y. Wan, and Anming Zhang, 'Empirical estimation of price and income elasticities of air cargo demand: The case of Hong Kong', Transportation Research.

    Xiao, Y., X. Fu, A. Ng, and Anming Zhang, 'Port investments on coastal and marine disasters prevention: Economic modeling and investigation', Transportation Research.

    Chen, Hong, Qu Qian, and Anming Zhang, 'Would Allowing Privately Funded Health Service Reduce Public Waiting Times? – Theory and Empirical Evidence from Canadian Joint Replacement Surgery Data', Production and Operations Management.

    Noruzoliaee, Mohamadhossein, Bo Zou, and Anming Zhang, 'Airport partial and full privatization in a multi-airport region: Focus on pricing and capacity', Transportation Research.

    Czerny, Achim I., and Anming Zhang, 'How to mix per-flight and per-passenger based airport charges', Transportation Research.

    Yang, H., Aming Zhang, and X. Fu, 'Determinants of airport-airline vertical arrangements: Analytical results and empirical evidence', Journal of Transport Economics and Policy.

    Hu, Q., and Anming Zhang, 'Real option analysis of aircraft acquisition: A case study', Journal of Air Transport Management.

    Czerny, A.I., and Anming Zhang, 'Third-degree price discrimination in the presence of congestion externality', Canadian Journal of Economics.

    Wan, Y., C. Jiang, and Anming Zhang, 'Airport congestion pricing and terminal investment: Effects of terminal congestion, passenger types and concessions', Transportation Research.

    E. Arentsen, D. Mauer, B. Rosenlund, H. Zhang, F. Zhao, 'Subprime Mortgage Defaults and Credit Default Swaps', Journal of Finance.

    Eric Arentsen, David C. Mauer, Brian Rosenlund, Harold H. Zhang and Feng Zhao, 'Subprime Mortgage Defaults and Credit Default Swaps', Journal of Finance.

    Levi, Shai, and Xiao-Jun Zhang, 'Asymmetric Decrease in Liquidity before Announcements and the Earnings Announcement Premium', Journal of Financial Economics.

    Longzhen Fan, Fuwei Jiang, Guofu Zhou, 'The Chinese Bond Market: Risk, Return and Opportunities', Journal of Portfolio Management.

    Dashan Huang, Fuwei Jiang, Jun Tu, Guofu Zhou, 'Investor Sentiment Aligned: A Powerful Predictor of Stock Returns', Review of Financial Studies.

    G.Zhou, Yingzi Zhu, 'Macroeconomic Volatilities and the Long-run Risks of Asset Prices', Management Science.

    Jushan Bai, Guofu Zhou, 'Fama-MacBeth Two-pass Regressions: Improving Risk Premia Estimates', Finance Research Letters.

  • “Effects of High-speed Rail and Airline Cooperation under Hub Airport Capacity Constraint,” Jiang, C. and A. Zhang, Transportation Research, Part B: Methodological, 2014, Vol. 60, pp. 33-49.

    “Can Analysts Analyze Mergers?”, Hassan Tehranian, Mengxin Zhao, and Julie L. Zhu, Management Science, 2014, 60(4): 959-979
     
    “Accounting Anomalies, Risk and Return”, Stephen Penman, Julie L. Zhu, The Accounting Review, 2014, 89(5): 1835-1866

    “Dynamic Asset Allocation with Ambiguous Return Predictability”, Hui Chen, Nengjiu Ju, Jianjun Miao, Review of Economic Dynamics, 17 (2014) 799–823

    “Options, Option Repricing in Managerial Compensation: Their Effects on Corporate Investment Risk”,Nengjiu Ju, Hayne Leland, and Lemma W. Senbet, Journal of Corporate FinanceVolume 29, December 2014, Pages 628–643

    “Glamour Brands and Glamour Stocks”, Jiang Zhan, Matthew Billett and Lopo Rego, Journal of Economic Behavior & Organization,  Volume 107, Part B, November 2014, Pages 744–759

    “Barrier Caps and Floors under the LOBOR Market Models with Double Exponential Jumps”, J. Chang, S. N. Chen, C. Wang and T. Wu, Journal of Derivatives, the leading article, summer 2014, 7~30.

    “Valuation of Guaranteed Contracts Set Relative to Cross-Currency Stochastic Interest Rates of Return”, T. Hsieh, T. Chou and S. N. Chen, Asia-Pacific Journal of Financial Studies 43, Fall 2014, 589-619.
     
    “Valuation of Quanto Options in A Markovian Regime-Switching Market: A Markov-Modulated Gaussian HJM Model”, S. N. Chen and C. Y. Li, Finance Research Letter 11, Summer  2014, 161-172. 

    “Pricing Currency Options under Double Exponential Jump Diffusion in a Markov-Modulated HJM Economy”, M. Chiang, C.Y. Li and S. N. Chen, Review of Quantitative Finance and Accounting, Vol. 43, No. 3, October 2014.
  • “China’s Financial System: Opportunities and Challenges”, F. Allen, Jun “QJ” Qian, C. Zhang and M. Zhao, Ch. 2, NBER book Capitalizing China, edited by R. Morck and J. Fan, 2013, U. of Chicago Press

    “Urban Road Congestion and Seaport Competition,” Wan, Y. and A. Zhang, Journal of Transport Economics and Policy, 2013, Vol. 47, No. 1, pp. 55-70.
     
    “Container Transshipment and Port Competition,” Bae, M.J., E.P. Chew, L.H. Lee and A. Zhang, Maritime Policy and Management, 2013,Vol. 40, pp. 479-494.
     
    “Airline Market Structure and Airport Efficiency: Evidence from Northeast Asian Airports,” Ha, H.-K. Y. Wan, Y. Yoshida and A. Zhang, Journal of Air Transport Management, 2013,Vol. 33, pp. 32-42.
     
    “Demand Uncertainty and Airport Capacity Choice,” Xiao, Y., X. Fu and A. Zhang, Transportation Research, Part B: Methodological, 2013, Vol. 57, pp. 91-104.

    "Noise as Information for Illiquidity," Jun Pan, Xing Hu and Jiang Wang, Journal of Finance, 2013, volume 68, pages 2223-2772.

    “Financial management in China”, Jiang, Zhan, Kim, Kenneth A, Journal of Multinational Financial Management, Volume 23, Issue 3, July 2013, Pages 125–133
     
    “Share repurchases, catering, and dividend substitution”, Zhan Jiang, Kenneth A. Kim, Erik Lie, Sean Yang, Journal of Corporate Finance, Volume 21, June 2013, Pages 36–50
     
    “The increase in CEO pay after large investments: Is it purely rent extraction”? Zhan Jiang, Kenneth Kim And Yilei Zhang, Advances in financial economics, 2013, p. 1-42

    “Growth and accounting choice”, Ilia Dichev, Feng Li, Australian Journal of Management, 38 (2013), 2 (August), 221-252
  • Tests of Mean-Variance Spanning'',Raymond Kan and Guofu Zhou, Annals of Economics and Finance 13, 2012, 145-193


    "Financing firms in India'', Franklin Allena, Rajesh Chakrabartib, Sankar Dec, Jun Qian , Meijun Qiane, Journal of Financial Intermediation Volume 21, Issue 3, July 2012, Pages 409–445


    ''CEO Pay Cuts and Forced Turnover: Their Causes and Consequences'', Gao, H., J. Harford, and K. Li, Journal of Corporate Finance 18, 291-310


    ''Red and blue investing: Values and finance'', Harrison Hong, Leonard Kostovetsky, Journal of Financial Economics Volume 103, Issue 1, January 2012, Pages 1–19


    ''Do arbitrageurs amplify economic shocks? ",Jeffrey D. Kubik, Harrison Hong, Tal Fishmanc, Journal of Financial Economics Volume 103, Issue 3, March 2012, Pages 454–470


    ''Trust and Delegation'', Stephen Brown, Will Goetzmann, and Chris Schwarz, Journal of Financial Economics 103, 221-234


    ''The Road Less Traveled: Strategy Distinctiveness and Hedge Fund Performance'', Zheng Sun, Ashley Wang, and Lu Zheng, Rev. Financ. Stud. (2012) 25(1): 96-143


    ''Asymptotic Optimality of Balanced Routing'', Hong Chen and Hengqing Ye, Operations Research January/February 2012 vol. 60 no. 1 163-179


    ''Ambiguity, Learning, and Asset Returns'', Nengjiu Ju and Jianjun Miao, Econometrica, 80, 559-591, 2012


    Global, Local, and Contagious Investor Sentiment (with Malcolm Baker and Jeff Wurgler), Journal of Financial Economics 104, May 2012, pp 272-287.


    The Short of It: Investor Sentiment and Anomalies (with Rob Stambaugh and Jianfeng Yu), Journal of Financial Economics 104, May 2012, pp 288-302. AQR Insight Award, Honorable Mentions; Marshall Blume Prize, Honorable Mentions.

  • Risk, uncertainty, and option exercise, Jianjun Miao and Neng Wang, Journal of Economic Dynamics and Control, 35(4), 442-461, (2011)


    A unified theory of Tobin’s q, corporate investment, financing, and risk management, Patrick Bolton, Hui Chen, Neng Wang, Journal of Finance, 66(5), 1545-1578, (2011)


    Do time-varying risk premiums explain labor market performance? Long Chena, Lu Zhang, Journal of Financial Economics 99(2011)385–399


    Value versus Growth: Time-Varying Expected Stock Returns, Huseyin Gulen, Yuhang Xing,  Lu Zhang, Financial Management,2011, 40 (2), 381-407


    Markowitz Meets Talmud: A Combination of Sophisticated and Naive Diversification Strategies, Jun Tu, Yingzi Zhu, Journal of Financial Economics 99, 2011, 204--215


    How Predictable Is the Chinese Stock Market? Jiang Fuwei, David Rapach, Jack Strauss, Jun Tu, Guofu Zhou, Journal of Financial Research 9, 2011, 107-121


    Fear of the Unknown: Familiarity and Economic Decisions, H. Henry Cao, Bing Han, David Hirshleifer, Harold H. Zhang, Review of Finance (2011) 15 (1): 173-206


    Credit Ratings and the Evolution of the Mortgage-Backed Securities Market, He, Jie; Qian, Jun; Strahan, Philip E., The American Economic Review, Volume 101, Number 3, May 2011 , pp. 131-135(5)


    The Illiquidity of Corporate Bonds, Jack Bao, Jun Pan, and Jiang Wang, The Journal of Finance Volume 66, Issue 3, pages 911–946


    How Sovereign is Sovereign Credit Risk? Francis A. Longstaff, Jun Pan, Lasse H. Pedersen, Kenneth J. Singleton, American Economic Journal: Macroeconomics, volume 3, pages 75--103, 2011


    Illiquidity, Position Limits, and Optimal Investment for Mutual Funds, M. Dai, H. Jin, Hong Liu, Journal of Economic Theory 146, 1598-1630


    Verification Theorems for Models of Optimal Consumption and Investment with Retirement and Constrained Borrowing, Philip H. Dybvig, Hong Liu, Mathematics of Operations Research 36, 620-635


    Hedge Funds and Chapter 11, Jiang, W., K. Li, and W. Wang, Journal of Finance 67, 513-559


    National Culture and Capital Structure Decisions: Evidence from Foreign Joint Ventures in China, Li, K., D. Griffin, H. Yue, and L. Zhao, Journal of International Business Studies 42, 477-503


    Institutional Cross-Holdings and Their Effects on Acquisition Decisions, Harford, J., D. Jenter, and K. Li, Journal of Financial Economics 99, 27-39


    Corporate Lobbying and Fraud Detection, Frank Yu, Xiaoyun Yu, Journal of Financial and Quantitative Analysis December 2011 46 : pp 1865-1891


    Privatization and Risk Sharing: Evidence from the Split Share Structure Reform in China, Li, K., T. Wang, Y.-L. Cheung, and P. Jiang, Review of Financial Studies 24, 2499-2525


    The Good or the Bad? Which Mutual Fund Managers Join Hedge Funds, Prachi Deuskar, Joshua M. Pollet, Z. Jay  and Lu ZhengWang, Rev. Financ. Stud. (2011) 24(9): 3008-3024


    International Patterns of Ownership Structure Choices for Startups: Does the Quality of Law Matter? Qianqian Du, Ilan Vertinsky, Small Business Economics: Volume 37, Issue 2 (2011), pp. 235-254


    Financial Distress and the Cross Section of Equity Returns, Lorenzo Garlappi, Hong Yan, The Journal  of Finance; Volume 66, Issue 3, pages 789–822, June 2011


    Does a Bayesian Approach Generate Robust Forecasts? Evidence from Applications in Portfolio Investment Decisions, Chih-ling Tsai, Hansheng, Wang, Ning Zhu, Annals of the Institute of Statistical Mathematics. Volume (Year): 62 (2010)


    Methods in diffusion approximation for multi-server systems: sandwich, uniform attraction and state-space collapse” in Queueing, Hong Chen and Heng-Qing Ye, International Series in Operations Research & Management Science, 2011, Volume 154, 489-530


    Pricing Credit Default Swaps with Option-Implied Volatility, Charles Cao , Fan Yu and Zhaodong Zhong, Financial Analysts Journal, Vol. 67, No. 4, 2011


    Social Efficiency Benchmarking of Japanese Domestic Transport Services: A Comparison of Rail and Air, Ha, H.K., Y. Yoshida and A. Zhang, Transportation Research Part D: Transport and Environment, Volume 16, Issue 7, October 2011, Pages 554–561


    Unilateral Regulation and Greenhouse Gas Emissions: The Case of the Airline Industry, Yuen, A. and A. Zhang, Transportation Research Part D: Transport and Environment, Vol. 16, pp. 540-546


    Price-cap Regulation of Congested Airports, Yang, H. and A. Zhang, Journal of Regulatory Economics (2011), Vol. 39, pp. 293-312


    Airport Congestion Pricing and Passenger Types, Czerny, A.I. and A. Zhang, Transportation Research Part B (Methodological), Vol. 45, pp. 595-604


    Airport Congestion Pricing and its Welfare Implications: The Case of Variable Passenger Time Costs, Yuen, A. and A. Zhang, Pacific Economic Review, Vol. 16, pp. 83-102

  • 股指期货不同推出方式对股票市场的影响, 涂志勇,郭明, 南方经济,2010 ,28,47-59


    Information Footholds: Expatriate Analysts in an Emerging Market, Charles Chang, Journal of International Money and Finance Volume 29, Issue 6, October 2010


    Modifying the LMM to Price Constant Maturity Swaps, Songnan Chen, T. P. Wu, Journal of Derivatives, Winter 2010, 20~32


    Pricing interest Rate Guarantee Embedded in Defined Contribution Pension Plan under the Libor Market Model, Songnan Chen, T. Hsieh, Journal of Financial Studies,June 2010, 27~64


    Explaining the Implied Volatility skew from Rational Speculation Perspective: Calibration on the Taiwan Stock Index Option, Songnan Chen, Journal of Futures and Options (台湾),November 2010,1~33


    valuation of CMS Spread Options with Nonzero Strike, Journal of Derivatives, Ting-Pin Wu, Son-Nan Chen, The Journal of Derivatives Fall 2011, Vol. 19, No. 1: pp. 41-55


    Market Conditions, Default Risk and Credit Spreads, Hong Yan, Journal of Banking & Finance, Volume 34, Issue 4, April 2010, Pages 743 –753


    Information from Relationship Lending: Evidence from Loan Defaults in China, Chun Chang ,Guanmin Liao, and Zheng Ni, Journal of Financial and Quantitative Analysis, European Banking Center Discussion Paper No. 2009-10S CentER Discussion Paper Series No. 2009-39S


    Informational Efficiency and Liquidity Premium as the Determinants of Capital Structure, Chun Chang and Xiaoyun Yu, Journal of Comparative Economics, Vol. 31, No. 3, pp. 387-594, September 2003


    Bookbuilding Vs. Fixed Price Revisited: The Effect of Aftermarket Trading, Walid Y. Busaba and Chun Chang, Journal of Corporate Finance Volume 16, Issue 3, June 2010, Pages 370–381


    Accounting Rules? Stock Buybacks and Stock Options: Additional Evidence, Paul A. Griffin and Ning Zhu, Journal of Contemporary Accounting & Economics (JCAE), Vol. 6, No. 1, pp. 1-17, June 2010, UC Davis


    Prior Consequences and Subsequent Risk Taking: New Field Evidence from the Taiwan Futures Exchange, Yu-Jane Liu, Chih-Ling Tsai, Ming-Chun Wang, Ning Zhu, Management Science April 2010 vol. 56 no. 4 606-620


    Individual Investors and Local Bias, Ning Zhu, Mark Seasholes, and Local Bias, Journal of Finance, 65-5, 1987-2010


    Household Consumption and Personal Bankruptcy, Ning Zhu, The Journal of Legal Studies. Volume (Year): 40 (2011) Issue (Month): 10 Pages: 1 - 37


    Saving your Home in Chapter 13 Bankruptcy, Michelle White and Ning Zhu, Journal of Legal Studies. 2010 39:1, 33-61


    Optimal Control and Equilibrium Behavior of Production-Inventory Systems, Owen Q. Wu and Hong Chen, Management Science August 2010 vol. 56 no. 8 1362-1379


    On the benefit of Inventory-based dynamic pricing strategies, Hong Chen, Owen Q. Wu and David D. Yao, Production and Operations Management Vol. 19, No. 3, May–June 2010, pp. 249–260


    Air Transport Liberalization and its Impacts on Airline Competition and Air Passenger Traffic, Fu, X., T.H. Oum and A. Zhang, Transportation Journal, Fall 2010, Vol. 49, No. 4, pp.24-41


    Comparative Analysis of Efficiency for Major Northeast Asia Airports, Ha, H., Y. Yoshida and A. Zhang, Transportation Journal, Fall 2010, Vol. 49, No. 4, pp. 9-23


    Airline Emission Charges: Effects on Airfares, Service Quality, and Aircraft Design, Brueckner, J.K. and A. Zhang, Transportation Research Part B (Methodological), Vol. 44, pp. 960-971


    Revenue Sharing with Multiple Airlines and Airports, Zhang, A., X. Fu and H. Yang, Transportation Research Part B (Methodological), Vol. 44, pp. 944-959


    Pricing vs. Slot Policies When Airport Profits Matter, Basso, L. and A. Zhang, Transportation Research Part B (Methodological), Vol. 44, pp. 381-391


    Airport Capacity and Congestion Pricing with both Aeronautical and Commercial Operations, Zhang, A and Y. Zhang, Transportation Research Part B (Methodological), Vol. 44, pp. 404-413


    Effects of Airport Concession Revenue Sharing on Competition and Social Welfare, Fu, X. and A. Zhang, Journal of Transport Economics and Policy, Vol. 44, Part 2, pp. 119-138


    An Efficiency Study of Airlines and Air Cargo/Passenger Divisions: A DEA Approach, Hong, S. and A. Zhang, World Review of Intermodal Transportation Research, Vol. 3, pp. 137-149


    Information, Expected Utility, and Portfolio Choice, Jun Liu, Ehud Peleg, and Avanidhar Subrahmanyam, Journal of Financial and Quantitative Analysis , 45 : pp 1221-1251


    Entrepreneurial finance and non-diversifiable risk, Hui Chen, Jianjun Miao, Neng Wang, Review of Financial Studies, 23 (12), 4348-88, (2010)


    The q-Theory Approach to Understanding the Accrual Anomaly, Jinwu and X. Frank Zhang, Journal of Accounting Research Vol. 48 No. 1 March 2010


    Does q- theory with investment frictions explain anomalies in thecross section of returns? Zhang Lu, Dongmei Li, Journalof Financial Economics 98 (2010) 297–314


    Is the Recent Financial Crisis Really a `Once-in-a-century' Event? Zhou, Guofu, Yingzi Zhu, Financial Analysts Journal 66 (1), 2010, 24--27


    Out-of-Sample Equity Premium Prediction: Combination Forecasts and Links to the Real Economy, Zhou, Guofu, David Rapach and Jack Strauss, Review of Financial Studies 23, 2010, 821--862


    Limited Participation, Consumption, and Saving Puzzles: A Simple Explanation and the Role of Insurance, Zhou, Guofu, Todd Gormley, Journal of Financial Economics 96, 2010, 331--344


    Robust Portfolios: Contributions from Operations Research and Finance, Zhou, Guofu, Frank J. Fabozzi and Dashan Huang, Annals of Operations Research 176, 2010, 191--220


    How much predictability should we expect given an asset pricing model? Zhou Guofu, Economics Letters 108, 2010, 184--186


    Incorporating Economic Objectives into Bayesian Priors: Portfolio Choice Under Parameter Uncertainty,

    Zhou Guofu, Jun Tu, Journal of Financial and Quantitative Analysis 45, 2010, 959--986


    Bayesian Portfolio Analysis, Zhou Guofu, Doron Avramov, Annual Review of Financial Economics 2, 2010, 25--47


    Cross Sectional Asset Pricing Tests, Zhou Guofu, Ravi Jagannathan and Ernst Schaumburg, Annual Review of Financial Economics 2, 2010, 49--74


    Stock Returns and the Volatility of Liquidity, Jo˜ao Pedro Pereira and Harold H. Zhang, Journal of Financial and Quantitative Analysis Vol. 45, No. 4, Aug. 2010, pp. 1077–1110


    Life Time Consumption and Investment: Retirement and Constrained Borrowing, Liu Hong, Philip H. Dybvig, Journal of Economic Theory 145, 2010, 885-907


    Limited Participation and Consumption-Saving Puzzles: A Simple Explanation and the Role of Insurance, Liu Hong, Todd Gormley, Journal of Financial Economics 96, 2010, 331-344



    Corporate Fraud and Business Conditions: Evidence from IPOs, TRACY YUE WANG, ANDREW WINTON, XIAOYUN YU, The Journal of Finance, Volume 65, Issue 6, pages 2255–2292, December 2010


    Informational Efficiency and Liquidity Premium as the Determinants of Capital Structure, Chang, Chun, and Xiaoyun Yu, Journal of Financial and Quantitative Analysis 45, 401‐440


    On the Dynamics of Hedge Fund Strategies, Liang Bing, Li Cai, The Journal of Alternative Investments Spring 2012, Vol. 14, No. 4: pp. 51-68


    Predicting Hedge Fund Failure: A Comparison of Risk Measures, Liang Bing, Hyuna Park, Journal of Financial and Quantitative Analysis 45, 199-222


    When Shareholders Are Creditors: Effects of the Simultaneous Holding of Equity and Debt by Non-Commercial Banking Institutions, Jiang, W., K. Li, and P. Shao, Review of Financial Studies 23, 3595-3637


    Deal or No Deal: Hormones and the Mergers and Acquisitions Game, Levi, M., K. Li, and F. Zhang, Management Science 56, 1462-1483


    Competition and Bias, Harrison Hong and Marcin Kacperczyk, The Quarterly Journal of Economics (2010) 125 (4): 1683-1725


    Market liquidity, asset prices, and welfare, Jennifer Huang,Jiang Wang, Journal of Financial Economics Volume 95, Issue 1, January 2010, Pages 107–127


    Side-by-Side Management of Hedge Funds and Mutual Funds, Zheng Lu, Tom Nohel and Zhi Wang, The Review of Financial Studies, 23(6), 2342-2373

  • To Hedge or Not to Hedge: Revenue Management and Exchange Rate Risk, Charles Chang, Cornell Hospitality Quarterly August 2009 vol. 50 no. 3 301-313


    IPO Under-pricing in the Hospitality Industry: A Necessary Evil? Charles Chang, Linda Canina, and Scott Gibson, Journal of Hospitality Financial Management, Vol. 16 (2008) ,Iss. 2


    Operational Hedging and Exchange Rate Risk: A Cross-sectional Examination of Canada's Hotel Industry, Charles Chang and Liya Ma, Cornell Hospitality Reports, Vol 9 No 15


    Do investors learn about analyst accuracy? A study of the oil futures market? Charles Chang, Hazem Daouk, and Albert Wang, Journal of Futures Markets Volume 29, Issue 5, pages 414–429, May 2009


    Put Your Money Where Your Mouth Is: Do Financial Firms Follow Their Own Recommendations? Charles Chang, Albert Wang, and Kin Wai Chan, The Quarterly Review of Economics and Finance Volume 49, Issue 3, August 2009, Pages 1095–1112


    Estimation Uncertainty and the Equity Premium, Hong Yan, International Review of Finance, Volume 9, Issue 3, pages 243–268, September 2009


    Do Retail Trades Move Markets? Brad M. Barber, Terrance Odean and Ning Zhu, The Review of Financial Studies, Vol. 22, No. 1, pp. 151-186, 2009


    Dynamic Capacity Expansion for a Service Firm with Capacity Deterioration and Supply Uncertainty, Xiuli Chao, Hong Chen and Shaohui Zheng, Operations Research, January/February 2009 vol. 57 no.1 82—93


    联想的双模式之道, 陈宏、童春阳、白立新, 《商业评论》2009年第1期,126—139


    迈向敏感型供应链, 陈宏、秦亮娟、石新弘, 《商业评论》2009年第6期,150—159


    The Market for Corporate Control and the Cost of Debt, Fan Yu and Jiaping Qiu, Journal of Financial Economics 93(3), 505-524


    Optimal Baggage Limit Policy: Airline Passenger and Cargo Allocation, Wong, W., A. Zhang, YV Hui and L. Leung, Transportation Science, Vol. 43, No. 3, pp. 355-369


    Effects of Competition and Policy Changes on Chinese Airport Productivity: An Empirical Investigation, Yuen, A. and A. Zhang, Journal of Air Transport Management, Vol. 15, pp. 166-174


    Domestic Rivalry and Export Performance: Theory and Evidence from International Airline Markets, Clougherty, J. and A. Zhang, Canadian Journal of Economics, Vol. 42, pp. 440-468


    Evaluating Competitiveness of Air Cargo Express Services, Park, Y., J.K. Choi and A. Zhang, Transportation Research, E (Logistics), Vol. 45, pp. 321-334


    Does Asymmetric Information Drive CapitalStructure Decisions? GuoJun Wu, Sreedhar Bharath, and Paolo Pasquariello, Review of Financial Studies 22 (2009) 3211-3243


    On the Relation between Expected Returns and Implied Cost of Capi, John Huhges and Jing Liu, Review of Accounting Studies, v14, n2-3, 246-259, June/September, 2009

  • Dynamic agency and the q theory of investment, Peter DeMarzo, Michael Fishman, Zhiguo He, Neng Wang, Journal of Finance


    Agency conflicts, investment, and asset pricing, Rui Albuquerque, Neng Wang, Journal of Finance, 63(1), 1-40, (2008)


    Momentum profits, factor pricing, and macroeconomic risk, Zhang Lu, Liu, Review of Financial Studies, 21 (6), 2417-2448


    The new issues puzzle: Testing the investment-based explanation, Zhang Lu, Lyandres and Sun, Review of Financial Studies 21 (6), 2825-2855


    Is the value spread a useful predictor of returns? Zhang Lu, Liu, Journal of Financial Markets 11 (3), 199-227


    Expected returns, yield spreads, and asset pricing tests, Zhang Lu, Campello and Chen, Review of Financial Studies 21 (3), 1297-1338


    The expected value premium, Zhang Lu, Chen and Petkova, Journal of Financial Economics 87 (2), 269-280


    On the Fundamental Law of Active Portfolio Management: How to Make Conditional Investments Unconditionally Optimal? Guofu Zhou, Journal of Portfolio Management 35 (1), 2008, 12--21


    On the Fundamental Law of Active Portfolio Management: What Happens if Our Estimates Are Wrong? Guofu Zhou, Journal of Portfolio Management 34 (4), 2008, 26--33


    Capital Gains Taxes and Asset Prices: Capitalization or Lock-in? Zhonglan Dai, Edward Maydew, Douglas A. Shackelford, and Harold H. Zhang, Journal of Finance, 63, 709-742, 2008


    Default and Recovery Implicit in the Term Structure of Sovereign CDS Spreads, Kenneth Singleton, Journal of Finance , volume 63, pages 2345--2384, 2008


    Volatility Information Trading in the Option Market, Pan Jun, Sophie Ni and Allen Poteshman, Journal of Finance , volume 63, pages 1059--1091, 2008


    The Causes and Consequences of Recent Financial Market Bubbles: An Introduction, Bhattacharya, Utpal, and Xiaoyun Yu, Review of Financial Studies 21, 3‐10


    On the Anticipation of IPO Underpricing: Evidence from Equity Carve‐outs, Benveniste, Lawrence, Huijing Fu, Paul Seguin, and Xiaoyun Yu, Journal of Corporate Finance 14, 614‐629


    Mandatory Disclosure and Operational Risk: Evidence from Hedge Fund Registration, Liang Bing, Stephen Brown, Will Goetzmann, and Chris Schwarz, Journal of Finance 63, 2785-2815


    Do Voting Rights Affect Institutional Investment Decisions?Evidence from Dual-Class Firms, Li, K., H. Ortiz-Molina, and X. Zhao, Financial Management 37, 713-745


    Asymmetric Information and Dividend Policy, Li, K., and X. Zhao, Financial Management 37, 673-694


    Corporate Boards and the Leverage and Debt Maturity Choices, Harford, J., K. Li, and X. Zhao, International Journal of Corporate Governance 1, 3-27


    Firms as Buyers of Last Resort, Hong Harrison, Jiang Wang and Jialin Yu, Journal of Financial Economics 88 (2008), 119-145


    Advisors and Asset Prices: A Model of the Origins of Bubbles, Jose Scheinkman and Wei Xiong, Journal of Financial Economics 89 (2008), 268-287


    The Only Game in Town: The Stock Price Consequences of Local Bias, Jeffrey D. Kubik and Jeremy C. Stein, Journal of Financial Economics 90 (2008), 20-37


    Robust Stochastic Discount Factors, Phelim Boyle, Shui Feng, Weidong Tian, and Tan Wang, Rev. Financ. Stud. (2008) 21 (3): 1077-1122


    Venture-Capital Investment in Minority Business, Timothy Bates, William D. Bradford, Journal of Money, Credit and Banking, Vol. 40, No. 2/3 (Mar. - Apr., 2008), pp. 489-504


    Board Size and the Variability of Corporate Performance, Shijun Cheng, Journal of Financial Economics, 2008, vol. 87, issue 1, pages 157-176


    Unobesrved Actions of Mutual Funds, Marcin Kacperczyk and Clemens Sialm, The Review of Financial Studies, 21, 2379-2416


    股指期货的推出对现货市场价格的影响, 涂志勇,郭明, 金融研究,2008(10)


    Trading Imbalances, Predictable Reversals, and Cross-stock Price Pressure, Charles Chang, Sandro Andrade, and Mark Seasholes, Journal of Financial Economics Volume 88, Issue 2, May 2008, Pages 406–423


    ESO Compensation: The Roles of Default Risk and Over-Confidence, Charles Chang, Cheng-der Fuh, and Ya-hui Hsu, Journal of Corporate Finance Volume 14, Issue 5, December 2008, Pages 630–641


    Default Risk, Shareholder Advantage, and Stock Returns, Lorenzo Garlappi, Tao Shu, Hong Yan, Review of Financial Studies (2008) 21 (6) pages 2743-2778


    Low Cost Carriers in Asia: Deregulation, Regional Liberalization and Secondary Airports, Zhang, A., S. Hanaoka, H. Inamura and T. Ishikura, Research in Transportation Economics, Vol. 24, pp. 36-50


    Comments on Prospects for Urban Road Pricing in Canada, A. Zhang, Brookings-Wharton Papers on Urban Affairs, pp. 271-280


    On the Relationship between Airport Pricing Models, Basso, L. and A. Zhang, Transportation Research Part B (Methodological), Vol. 42, pp. 725-735


    Effects of Gateway Congestion Pricing on Optimal Road Pricing and Hinterland, Yuen, A., L. Basso and A. Zhang, Journal of Transport Economics and Policy, Vol. 42, pp. 495-526


    Airline Seat Allocation Competition, Li, M.Z.F., A. Zhang and Y. Zhang, International Transactions in Operational Research, Vol. 15, pp. 439-459


    Sequential Peak-Load Pricing in a Vertical Setting: The Case of Airports and Airlines, Basso, L. and A. Zhang, Canadian Journal of Economics, Vol. 41, pp. 1087-1119


    Debt Policy, Corporate Taxes, and Discount Rates, Mark Grinblatt and Jun Liu, Journal of Economic Theory, v141, n1, 225-254, July 2008

  • The Impact of Foreign Portfolio Flows on Volatility in Emerging Markets: Evidence from Thailand, Pantisa Pavabutr, Hong Yan, Australian Journal of Management December 2007 vol. 32 no. 2, pages 345-368


    Conflicts of Interest in Sell-side Research and the Moderating Role of Institutional Investors, Alexander Ljungqvist, Felicia Marston, Laura Starks,Kelsey Wei, Hong Yan, Journal of Financial Economics, 85, pages 420-456, 2007


    Participation Costs and the Sensitivity of Fund Flows to Past Performance, Jennifer Huang, Kelsey Wei, Hong Yan, Journal of Finance, 62, pages 1273 – 1311, 2007


    Investment Opportunities, Liquidity Premium and Conglomerate Mergers, Chun Chang, Journal of Business, Vol. 77, No. 1, 2004


    Efficiency and the Bear: Short Sales and Markets around the World, Arturo Bris , William N. Goetzmann and Ning Zhu, The Journal of Finance Volume 62, Issue 3, pages 1029–1079, June 2007


    China and the World Financial Markets 1870-1939: Modern Lessons from Historical Globalization, Andrey Ukhov , William N. Goetzmann and Ning Zhu, Economic History Review, Vol. 60, No. 2, pp. 267-312, May 2007


    Correlated Defaults in Intensity-Based Models, Fan Yu, Mathematical Finance, Vol. 17, No. 2, pp. 155-173, April 2007


    Risk and Return in Fixed Income Arbitrage: Nickels in Front of a Steamroller? Fan Yu and Jefferson Duarte and Francis Longstaff, Review of Financial Studies 20(3), 769-811


    Strategic Trade and Transport Policies with Congestible Facilities, Yuen, A. and A. Zhang, Asia Pacific Journal of Accounting and Economics, Vol. 14, pp. 235-257


    Congestible Facility Rivalry in Vertical Structures, Basso, L. and A. Zhang, Journal of Urban Economics, Vol. 61, pp. 218-237


    Intermodal Alliance and Rivalry of Transport Chains: The Air Cargo Market, Zhang, A., C. Lang, YV Hui and L. Leung, Transportation Research, E (Logistics), Vol. 43, pp. 234-246


    Predictable Behavior, Profits, and Attention, GuoJun Wu and Mark Seasholes, Journal of Empirical Finance 14 (2007) 590–610


    An Analysis of Risk for Defaultable Bond Portfolios, GuoJun Wu, Hongtao Guo, and Zhijie Xiao, Journal of Risk Finance, 8, 166-185


    Information, Diversification, and Asset Pricing, John Hughes, Jing Liu and Jun Liu, Accounting Review, v82, n3, 705-730, May, 2007


    Portfolio Selection in Stochastic Environments, Jun Liu, Review of Financial Studies, v20, n1, 1-39, January, 2007


    Investment, consumption, and hedging under incomplete markets, Jianjun Miao, Neng Wang, Journal of Financial Economics, 86(3), 608-642, (2007)


    Investment under uncertainty and strategic debt service, Suresh Sundaresan, Neng Wang, American Economic Review Papers & Proceedings, 97 (2), 256-261, (2007)


    An equilibrium model of wealth distribution, Nill, Neng Wang, Journal of Monetary Economics, 54 (7), 1882-1904, (2007)


    Investment under uncertainty and time-inconsistent preferences, Steven Grenadier, Neng Wang, Journal of Financial Economics, 84 (1), 2-39, (2007)


    Asymmetries in Stock Returns: Statistical Tests and Economic Evaluation, Zhou Guofu, Yongmiao Hong and Jun Tu, Review of Financial Studies 20, 2007, 1547--1581


    Optimal Portfolio Choice with Parameter Uncertainty, Zhou Guofu, Raymond Kan, Journal of Financial and Quantitative Analysis 42, 2007, 621--656


    Estimating and Testing Beta Pricing Models: Alternative Methods and Their Performance in Simulations, Zhou Guofu, Jay Shanken, Journal of Financial Economics 84, 2007, 40--86


    How Law and Institutions Shape Financial Contracts: The Case of Bank Loans, Qian Jun, Phil Strahan, Journal of Finance, 62 (6), 2803-2834


    Liquidity Premia and Transaction Costs, Liu Hong, Bong-Gyu Jang, Hyeng Keun Koo, and Mark Loewenstein, Journal of Finance 62, 2007, 2329-2366


    Rational Inattention and Portfolio Selection, Liu Hong, Lixin Huang, Journal of Finance 62, 2007, 1999-2040


    Equilibrium Forward Contracts on Non-storable Commodities in the Presence of Market Power, Liu Hong, Lingxiu Dong, Operations Research 55, 2007, 128-145


    Do Market Timing Hedge Funds Time the Markets? Liang Bing, Yong Chen, The Journal of Financial and Quantitative Analysis 42 (Invited), 827-856


    Value at Risk and the Cross-Section of Hedge Fund Returns, Turan Bali and Suleyman Gokcan, Journal of Banking and Finance 31 (Invited), 1135-1166


    Risk Measures for Hedge Funds, Hyuna Park, European Financial Management 13, 333-370


    Monitoring: Which Institutions Matter? Chen, X., J. Harford, and K. Li, Journal of Financial Economics 86, 279-305


    Decoupling CEO Wealth and Firm Performance: The Case of Acquiring CEOs, Harford, J., and K. Li, Journal of Finance 62, 917-949


    The Growth in Equity Market Size and Trading Activity: An International Study, Nill and K. Li, Journal of Empirical Finance 14, 59-90


    The Information Content of Canadian Open Market Share Repurchase Announcements, Li, K., and W. McNally, Managerial Finance 33 (A Special Issue on Payout Policy), 65-80


    Do Industries Lead Stock Markets? Hong Harrison, Walter Torous and Rossen Valkanov, Journal of Financial Economics 83 (2007), 367-396


    Simple Forecasts and Paradigm Shifts, Hong Harrison, Jeremy C. Stein and Jialin Yu, Journal of Finance 62 (2007), 1207-1242


    Disagreement and the Stock Marke, Hong Harrison, Jeremy C. Stein, Journal of Economic Perspectives 21 (2007), 109-128


    Portfolio Selection with Parameter and Model Uncertainty: A Multi-Prior Approach, Lorenzo Garlappi, Raman Uppal, and Tan Wang, Review of Financial Studies, Vol. 20, 2007, pp.41-81


    Firms as Buyers of Last Resort: Financing Constraints, Stock Returns and Liquidity, H. Hong and J.L. Yu, Journal of Financial Economics, 2007


    Distinguishing Economically from Legally Formal Firms: Targeting Business Support to Entrepreneurs in South Africa's Townships, William D. Bradford, Journal of Small Business Management, Vol. 45, No. 1, pp. 94-115, January 2007


    Insider Trades and Private Information: The Special Case of Delayed-Disclosure Trades, Venky Nagar ,Madhav V. Rajan, The Review of Financial Studies, Vol. 20, Issue 6, pp. 1833-1864, 2007


    Industry Concentration and Mutual Fund Performance, Marcin T. Kacperczyk and Clemens Sialm, The Journal of Investment Management, 5 (1)

  • Incentives and Performance in the Presence of Wealth Effects and Endogenous Risk, Ming Guo, Journal of Economic Theory, 2006,129,150-149


    Macroeconomic Conditions, Firm Characteristics and Credit Spread Dynamics, Dragon Tang, Hong Yan, Journal of Financial Services Research, 29, pages 177 – 210, 2006


    Deposit Insurance and Bank Regulation in a Monetary Economy: a General Equilibrium Exposition, Chun Chang, John Boyd, and Bruce Smith, RECENT DEVELOPMENTS ON MONEY AND FINANCE Studies in Economic Theory, 2006, Volume 24, 11-38, DOI: 10.1007/3-540-29500-3_2


    Fourier Transformation and the Pricing of Average-Rate Derivatives, Nengjiu Ju and Rui Zhong, Review of Derivatives Research 9, 187-212, 2006


    Estimation of Continuous-Time Models with an Application to Equity Volatility Dynamics, Nengjiu Ju, Gurdip Bakshi, and Hui Ou-Yang, Journal of Financial Economics 82, 227-249, 2006


    Capital Structure, Debt Maturity, and Stochastic Interest Rates, Nengjiu Ju and Hui Ou-Yang, Journal of Business 79, 2469-2502, 2006


    Correlated Default Risks and Bank Regulations, Nengjiu Ju, Andrew Chen, Sumon Mazumdar, and Avinash Verma, Journal of Money, Credit and Banking 38, 375-398, 2006


    Airport Capacity and Congestion When Carriers Have Market Power, Zhang, A. and Y. Zhang, Journal of Urban Economics, Vol. 60, pp. 229-247


    Rivalry between Strategic Alliance, Zhang, A. and Y. Zhang, International Journal of Industrial Organization, Vol. 24, pp. 287-301


    A Model of Liberalization of Trade in Services, Wong, C., J. Wu and A. Zhang, Review of International Economics, Vol. 14, pp. 148-168


    Financial Constraints Risk, Guojun Wu and Toni Whited, Review of Financial Studies, 19, 531-559


    How Important Is Intertemporal Risk for Asset Allocation? GuoJun Wu and Bruno Gerard, Journal of Business, 79 (4), 2203-2241


    Stock Market Manipulations, GuoJun Wu, Rajesh Aggarwal, Journal of Business, 79 (4), 1915-1953. -- First place winner of the best paper award – 2004 China


    The Market Price of Risk in Interest Rate Swaps: The Roles of Default and Liquidity Risks, Jun Liu,Francis Longstaff, and Ravit E. Mandell, Journal of Business, v79, n5, 2337-2359, September, 2006


    Generalizing the permanent-income hypothesis: Revisiting Friedman's conjecture on consumption, Nill, Neng Wang, Journal of Monetary Economics, 53 (4), 737-52, (2006)


    Asset pricing implications of firms’ financing constraints, Zhang Lu and Gomes and Yaron, Review of Financial Studies 19 (4), 1321-1356


    Using Bootstrap to Test Portfolio Efficiency, Zhou Guofu, Pin-Huang Chou, Annals of Economics and Finance 7, 2006, 217--249


    Portfolio Optimization under Asset Pricing Anomalies, Zhou Guofu, Pin-Huang Chou and Wen-Shen Li, Japan & The World Economy 18, 2006, 121--142


    A New Variance Bound on the Stochastic Discount Factor, Zhou Guofu, Raymond Kan, Journal of Business 79, 2006, 941--961


    Buy-side Analysts, Sell-side Analysts, and Investment Decisions of Money Managers, Qian Jun, Yingmei Cheng and Mark H. Liu, Journal of Financial and Quantitative Analysis, 41(1), 51-83


    The Information in Option Volume for Future Stock Prices, Pan Jun, Allen Poteshman, Review of Financial Studies , volume 19, pages 871--908, 2006


    An Analysis of VaR-based Capital Requirements, Liu Hong, Domenico Cuoco, Journal of Financial Intermediation 15, 2006, 362-394


    So What Orders Do Informed Traders Use? Liu Hong, Ron Kaniel, Journal of Business 49, 2006, 1867-1913


    The Role of the Media in the Launch of Internet IPOs, Bhattacharya, Utpal, Neal Galpin, Rina Ray, and Xiaoyun Yu, Betriebswirtschaftliche Forschung und Praxis 58 (Special Issue on IPOs), 442‐456


    Playing by the Rules: Comparing Principles-based and Rules-based Corporate Governance in Canada and the U.S., Broshko, E.B., and K. Li, Canadian Investment Review, Winter issue, 18-25


    Asset Float and Speculative Bubbles, Hong Harrison, Jose Scheinkman and Wei Xiong, Journal of Finance 61 (2006), 1073-1117


    Trading Volume: Implications of an Intertemporal Capiral Asset Pricing Model, Wang Jiang, A.W. Lo, Journal of Finance 61, 2805-2840, 2006


    Evaluating Portfolio Policies: A Duality Approach, Wang Jiang, M. Haugh and L. Kogan, Operations Research 54 (No. 3), 405-418, 2006


    The Price Impact and Survival of Irrational Traders, Wang Jiang, L. Kogan, S.A. Ross and M.Westerfield, Journal of Finance 61, 195-229, 2006


    Accounting Treatment of Inherent versus Incentive Uncertainties and the Capital Structure of the Firm, Zhang Xiaojun, Pierre Jinghong Liang, Journal of Accounting Research, March 2006


    Tax-loss Selling and the January Effect: Evidence from Municipal Bond Closed-End Funds, Laura T. Starks and Li Yong, The Journal of Finance, 61 (6), 3049-3067


    Are Investors Moonstruck? – Lunar Phases and Stock Return, Kathy Yuan and Qiaoqiao Zhu, The Journal of Empirical Finance, 13, 1-23


    Rain or Shine: Where is the Weather Effect? William N. Goetzmann and Ning Zhu, European Financial Management, Vol. 11, No. 5, pp. 559-578, November 2005


    the Impact of Clientele Changes: Evidence from Stock Splits, Ravi Dhar , William N. Goetzmann and Ning Zhu, Yale ICF Working Paper No. 03-14, EFA 2005 Moscow Meetings Paper, AFA 2005 Philadelphia Meetings


    What Actually Happened to the Inventories of American Companies Between 1981 and 2000? Hong Chen, Murray Z. Frank, and Owen Q. Wu, Management Science 2005 51:1015-1031; doi:10.1287/mnsc.1050.0368


    A Refinement to AitSahalia's (2003) Maximum Likelihood Estimation of Discretely Sampled Diffusions: A Closed-form Approximation Approach, Nengjiu Ju and Gurdip Bakshi, Journal of Business 78, 2037-2052, 2005


    Horses and Rabbits? Trade-Off Theory and Optimal Capital Structure, Robert Parrino, Allen Poteshman, Michael Weisback, Nengjiu Ju, Journal of Financial and Quantitative Analysis, 40, 259-281, 2005


    Default Risk and Diversification: Theory and Empirical Implications, Robert A. Jarrow , David Lando and Fan Yu, Mathematical Finance, Vol. 15, No. 1, pp. 1-26, January 2005


    Accounting Transparency and the Term Structure of Credit Spreads, Fan Yu, Journal of Financial Economics 75(1), 53-84


    The Air Cargo Industry in China: Implications of Globalization and WTO Accession, Fung, M., A. Zhang, L. Leung and J. Law, Transportation Journal, Vol. 44, No. 4, pp. 44-62


    Export Orientation and Domestic Merger Policy: Theory and Empirical Evidence, Clougherty, J. and A. Zhang, Canadian Journal of Economics, Vol. 38, pp. 778-806


    A Study of Optimal State-owned Shares in Mixed Oligopoly: Implications for SOE Reform, Sun, Q., A. Zhang and J. Li, Canadian Journal of Economics, Vol. 38, pp. 778-806


    Time-Varying Informed and Uninformed Trading Activities, GuoJun Wu and Qin Lei, Journal of Financial Markets, 8, 153-181


    Why Stocks May Disappoint, Jun Liu, Andrew Ang, and Geert Bekaert, Journal of Financial Economics, v76, n3, 471-508, June, 2005


    An Equilibrium Model of Rare Event Premia, Jun Liu with Jun Pan and TanWang, Review of Financial Studies, v18, n1, 131-164, Spring, 2005


    Investment timing, agency, and information, Steven Grenadier, Journal of Financial Economics, 75 (3), 493-533, (2005)


    Is value riskier than growth? Zhang Lu, Petkova, Journal of Financial Economics 78 (1), 187-202


    The value premium, Zhang Lu, Journal of Finance 60 (1), 67-103


    Model Uncertainty, Limited Market Participation and Asset Prices, H. Henry Cao, Tan Wang and Harold H. Zhang, Review of Financial Studies, 18, 1219-1251, 2005


    External Habit and the Cyclicality of Expected Stock Returns, Thomas Tallarini, Jr. and Harold H. Zhang, Journal of Business, 78, 1023-1048, 2005


    Optimal Consumption and Portfolio Choices with Risky Housing and Borrowing Constraints, Rui Yao and Harold H. Zhang, Review of Financial Studies, 18, 197-239, 2005


    Maximizing Long-Term Wealth Accumulation: It’s not just about “What” but also about “Where” to Make Them, Robert Dammon, James Poterba, Chester Spatt, Harold H. Zhang, Research Dialogue 85, 2005


    Law, Finance, and Economic Growth in China, Jun, Qian, Franklin Allen and Meijun Qian, Journal of Financial Economics, 77 (1), 57-116


    Optimal Toeholds in Takeover Contests, Jun, Qian, Eitan Goldman, Journal of Financial Economics, 77 (2), 321-346


    Endogenous Financial Intermediation and Real Effects of Capital Account Liberalization, Jun Pan, George Alessandria, Journal of International Economics, 67(1), 97-128


    An Equilibrium Model of Rare-Event Premia and Its Implication for Option Smirks, Jun Pan, Jun Liu and Tan Wang, Review of Financial Studies , volume 18, pages 131--164, 2005


    Option Pricing with an Illiquid Underlying Asset Market, Hong Liu , Jiongmin Yong, Journal of Economic Dynamics and Control 29, 2005, 2125-2156


    Do Hedge Funds Have Enough Capital? A Value at Risk Approach, Liang Bing, Anurag Gupta, Journal of Financial Economics 77, 219-253


    Thy Neighbor’s Portfolio: Word-of-Mouth Effects in the Holdings and Trades of Money Managers, Hong Harrison Jeffrey D. Kubik and Jeremy C. Stein, Journal of Finance 60 (2005), 2801-2824


    Model Uncertainty, Limited Market Participation, and Asset Prices, H. Henry Cao, Tan Wang, and Harold H. Zhang, Review of Financial Studies, Vol.18, 2005, 1219 - 1251


    An Equilibrium Model of Rare-Event Premia and Its Implication for Option Smirks, Jun Liu, Jun Pan, and Tan Wang, Review of Financial Studies, Vol.18, 2005, 131 - 164


    Mischfonds neuer Praegung: Attraktivitaet durch Flexibilitaet, Burik Paul, Dr. O. Kruse, Die Bank


    Discussion of 'Conservatism, Growth and the Role of Accounting Numbers in Fundamental Analysis Process', Xiaojun Zhang, Review of Accounting Studies, September 2005


    Identifying Control Motives in Managerial Ownership: Evidence from Antitakeover Legislation, Cheng Shijun, Venky Nagar,Madhav V. Rajan, Rev. Financ. Stud. (Summer 2005) 18 (2): 637-672


    On the Industry Concentration of Actively Managed Equity Mutual Funds, Zheng Lu, Marcin Kacperczyk and Clemens Sialm, The Journal of Finance 60 (4), 1983-2011


    Out of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows, Zheng Lu, Brad Barber and Terry Odean, The Journal of Business 78 (6), 2095-2120


    Investment Opportunities, Liquidity Premiums and Conglomerate Mergers, Chun Chang and Xiaoyun Yu, Journal of Business 77, 45-74,2004


    Deposit Insurance and Bank Regulation in a Monetary Economy: a General Equilibrium Exposition, John H. Boyd, Chun Chang, and Bruce D. Smith, Economic Theory 24, 741–767 (2004)


    How to Discount Cashflows with Time-Varying Expected Returns, Jun Liu with Andrew Ang, Journal of Finance, v59, n6, 2745-2783, December, 2004


    Losing Money on Arbitrages: Optimal Dynamic Portfolio Choice in Markets with Arbitrage Opportunities,

    Jun Liu with Francis Longstaff, Review of Financial Studies, v17, n3, 611-641, Fall, 2004


    Conditional Information and Variance Bounds on Pricing Kernels,Jun Liu with Geert Bekaert, Review of Financial Studies, v17, n2, 339-378, Summer, 2004


    Precautionary saving and partially observed income, Nill, Neng Wang, Journal of Monetary Economics, 51 (8), 1645-1681, (2004)


    Data-generating Process Uncertainty: What Difference Does It Make in Portfolio Decisions? Zhou Guofu, Jun Tu, Journal of Financial Economics 72, 2004, 385--421


    Comment on ‘Household Portfolio Choices in Taxable and Tax-Deferred Accounts: Another Puzzle?’ ,

    Zhang Harold, European Finance Review 7, 583-586, 2004


    Optimal Asset Location and Allocation with Taxable and Tax-Deferred Investing, Robert M. Dammon, Chester S. Spatt and Harold H. Zhang, Journal of Finance 59, 2004


    Optimal Consumption and Investment with Transaction Costs and Multiple Risky Assets, Liu Hong, Journal of Finance 59, 2004, 289-338


    Investment Opportunities, Liquidity Premium and Conglomerate Mergers, Chang, Chun, and Xiaoyun Yu, Journal of Business 77, 45‐74


    Alternative Investments: CTAs, Hedge Funds, and Funds-of-Funds, Liang Bing, Journal of Investment Management 2, 76-93, Fourth Quarter 2004


    Fees on Fees in Funds of Funds, Liang Bing, Stephen Brown and William Goetzmann, Journal of Investment Management 2, 39-56, Fourth Quarter 2004


    Confidence in the Familiar: An International Perspective, Li, Kai, Journal of Financial and Quantitative Analysis, 39, 47-68


    Social Interaction and Stock Market Participation, Hong Harrison, Jeffrey D. Kubik and Jeremy C. Stein, Journal of Finance 59 (2004), 137-163


    Talking up Liquidity: Insider Trading and Investor Relations, Hong Harrison, Ming Huang, Journal of Financial Intermediation 14 (2004), 1-31


    Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization, Joseph Chen, Ming Huang and Jeffrey D. Kubik, American Economic Review 94 (2004), 1276-1302


    The Role of Risk Aversion and Uncertainty in an Individual's Migration Decision, Tan Wang and T. Wirjanto, Stochastic Models, Vol. 20, 2004, 129-147


    Asset Prices and Trading Volume Under Fixed Transactions Costs, A.W. Lo and H. Mamaysky, Journal of Political Economy 112 (No. 5), 1054-1090, 2004


    R&D Expenditures and CEO Compensation, Shijun Cheng, The Accounting Review, April 2004


    Family Values and the Star Phenomenon: Strategies of Mutual Fund Families, Vikram Nanda and Jay Wang, The Review of Financial Studies 17 (3), 667-698


    Institutional Trading and Stock Returns, Fang Cai, Finance Research Letters 1 (3), 178-189


    Incentive Contracting Versus Ownership Reforms: Evidence from China's Township and Village


    Enterprises, Chun Chang , Brian P. McCall and Yijiang Wang, Journal of Comparative Economics 31, 414-428, 2003


    Progress and Peril in China's Modern Economy, Chun Chang, The Region-The Federal Reserve Bank of Minneapolis Paper Millionaires: How Valuable is Stock to a Stockholder Who is Restricted from Selling it? Liu Jun with Matthias Kahl and Francis Longstaff, Journal of Financial Economics, v67, n3, 385-410, March 2003


    Dynamic Asset Allocation with Event Risk, Jun Liu , Jun Pan and Francis A. Longstaff, Journal of Finance, Vol. 58, pp. 231-259, 2003


    Caballero meets Bewley: The permanent-income hypothesis in general equilibrium, Neng Wang, American Economic Review 93 (3), 927-936, (2003)


    Capital Gains Taxes and Portfolio Rebalancing, Robert M. Dammon, Chester S. Spatt and Harold H. Zhang, Research Dialogue, 75, 2003


    Dynamic Derivative Strategies, Jun Pan, Jun Liu, Journal of Financial Economics, volume 69, pages 401--430, 2003


    Dynamic Asset Allocation with Event Risk, Jun Pan, Jun Liu and Francis Longstaff, Journal of Finance, volume 58, pages 231--259, 2003


    Evidence of Information Spillovers in the Production of Investment Banking Services, Benveniste, Lawrence, Alexander Ljungqvist, William Wilhelm, and Xiaoyun Yu, Journal of Finance 58, 577‐608


    Hedge Fund Returns: Auditing and Accuracy, Liang Bing, The Journal of Portfolio Management 29 (Invited), 111-122


    An Examination of Own Account Trading by Dual Traders in Futures Markets, Chakravarty, S., and K. L, Journal of Financial Economics, 69, 375-397


    A Bayesian Analysis of a Variance Decomposition for Stock Returns, Hollifield, B., G. Koop, and K. Li, Journal of Empirical Finance, 10, 583-601


    A Bayesian Analysis of Dual Trader Informativeness in Futures Markets, Chakravarty, S., and K. Li, Journal of Empirical Finance, 10, 355-371


    Diversification Benefits of Emerging Markets Subject to Portfolio Constraints, Li, K., A. Sarkar, and Z. Wang, Journal of Empirical Finance 10 (A Special Issue on Emerging Markets), 57-80


    An Econometric Model of Birth Inputs and Outputs for Native Americans, Li, K., and D.J. Poirier, Journal of Econometrics, 113, 337-361


    The Roles of Birth Inputs and Outputs in Predicting Health, Behavior, and Test Scores in Early Childhood, Li, K., and D.J. Poirier, Statistics in Medicine, 22, 3489-3514


    Bayesian Analysis of an Econometric Model of Birth Inputs and Outputs, Li, K., and D.J. Poirier, Journal of Population Economics, 16, 597-625


    Analyzing the Analysts: Career Concerns and Biased Earnings Forecasts, Hong Harrison, Jeffrey D. Kubik, Journal of Finance 58 (2003), 313-351


    Differences of Opinion, Short-Sales Constraints and Market Crashes, Hong Harrison, Jeremy C. Stein, Review of Financial Studies 16 (2003), 487-525


    Model Misspecification and Under Diversification, Raman Uppal and Tan Wang, Journal of Finance, Vol.58, 2003, 2465-2486


    The Wealth Dynamics of Entrepreneurship for Black and White Families in the U.S, William D. Bradford, Review of Income and Wealth, Vol. 49, pp. 89-116, March 2003


    Anomalous stock returns around internet firms’ earnings announcements, Zhang Xiaojun, Brett Trueman, M.H.Franco Wong, Journal of Accounting and Economics Volume 34, Issues 1–3, January 2003, Pages 249–271


    Deposit Insurance: A Reconsideration, John Boyd , Chun Chang, and Bruce Smith, Journal of Monetary Economics 49 (2002) 1235–1260


    Brownian Approximations of Multiclass Open-Queueing Networks, Hong Chen, Xinyang Shen, and David D. Yao, Operations Research November/December 2002 50:1032-1049


    Pricing Asian and Basket Options Via Taylor Expansion, Nengjiu Ju, Journal of Computational Finance, 5, 79-103, 2002


    A Generalized Partially Linear Model of Asymmetric Volatility, GuoJun Wu and Zhijie Xiao, Journal of Empirical Finance, 9, 287-319


    An Analysis of Risk Measures, GuoJun Wu and Zhijie Xiao, Journal of Risk, 4 (4), 53-75


    Robust permanent income and pricing with filtering, Lars Peter Hansen, Thomas J. Sargent, Neng Wang, Macroeconomic Dynamics 6, 40-84, (2002)


    What Determines Expected International Asset Returns? Campbell Harvey and Bruno Solnik, Annals of Economics and Finance 3, 2002, 83--127


    Upstream Intergenerational Transfers, Frank A. Sloan, Harold H. Zhang and Jingshu Wang, Southern Economic Journal, 69, 363-380, 2002


    The Jump-Risk Premia Implicit in Options: Evidence from an Integrated Time-Series Study, Pan Jun, Journal of Financial Economics, volume 63, pages 3--50, 2002


    Optimal Portfolio Selection with Transaction Costs and Finite Horizons, Liu Hong, Mark Loewenstein, Review of Financial Studies 15, 2002, 805-835


    What Explains the Growth of Global Equity Markets? Li, Kai, Canadian Investment Review, Fall issue, 23-30


    Should US Investors Hold Foreign Stocks?Li, K., and A. Sarkar, Current Issues in Economics and Finance, 8, 1-6


    Strategic Trading and Learning about Liquidity, Harrison Hong, Sven Rady, Journal of Financial Markets 5 (2002), 419-450


    Breadth of Ownership and Stock Returns, Harrison Hong, Joseph Chen and Jeremy C.Stein, Journal of Financial Economics 66 (2002), 171-205


    Dynamic Volume-Return Relations of Individual Stocks, Jiang Wang, G. Llorente, R. Michaely, G.Saar, Review of Financial Studies 15, 1005-1047, 2002


    Strukturen in Fondsgeschaeft: Chance für Spezialisten, Paul Burik, Dr. O. Kruse, Bank und Markt


    Accounting Conservatism, the Quality of Earnings, and Stock Returns, Xiaojun Zhang, Stephen H. Penman, The Accounting Review , Vol. 77, No. 2, Apr., 2002 ,Page 237 of 237-264


    Revenue Recognition in a Multiperiod Agency Setting, Xiaojun Zhang, Sunil Dutta, Journal of Accounting Research Volume 40, Issue 1, pages 67–83, March 2002


    Dynamic Models of the Term Structure, Hong Yan, Financial Analysts Journal, Vol. 57, No. 4, Jul. - Aug., 2001


    EBIT-based Dynamic Capital Structure, Nengjiu Ju, Robert Goldstein, and Hayne Leland, Journal of Business, 74, 483-512, 2001


    Counterparty Risk and the Pricing of Defaultable Securities, Fan Yu and Robert Jarrow, Journal of Finance 56(5), 1765-1799


    The Determinants of Asymmetric Volatility, GuoJun Wu, Review of Financial Studies, 14, 837-859


    Floating-Fixed Credit Spreads, Darrell Duffie and Jun Liu, Financial Analysts Journal, Vol. 57, No. 3, May/June 2001


    A Generalized Earning Model of Stock Valuation, Jun Liu with Andrew Ang, Review of Accounting Studies, V6, n4, December, 2001


    Optimal Consumption and Investment with Capital Gains Taxes, Harold Zhang, Robert M. Dammon, Chester S. Spatt and Harold H. Zhang, Review of Financial Studies, 14, 583-616, 2001


    Analytical Value-At-Risk with Jumps and Credit Risk, Jun Pan, Darrell Duffie, Finance and Stochastics, Volume 5, pages 155--180, 2001


    Hedge Fund Performance: 1990-1999, Bing Liang, Financial Analysts Journal 57 (Invited), 11-18, Jan./Feb. 2001


    The Valuation of IPO and SEO Firms, Kai Li, Koop, G., and K. L, Journal of Empirical Finance, 8, 375-401


    Using the National Longitudinal Survey of Youth in the US to Study the Birth Process: A Bayesian Approach, Kai Li and D.J. Poirier, Research in Official Statistics, 4, 127-150


    Forecasting Crashes: Trading Volume, Past Returns and Conditional Skewness in Stock Prices, Harrison Hong, Joseph Chen and Jeremy C. Stein, Journal of Financial Economics 61 (2001), 345-381


    Back to Basics: Forecasting the Revenues of Internet Firms, Brett Trueman, M. H. Franco Wong and Xiao-Jun Zhang, Review of Accounting Studies, 6, 305–329, 2001


    Asymmetric Volatility and Risk in Equity Markets, GuoJun Wu and Geert Bekaert, Review of Financial Studies, 13, 1-42


    Stability of Multiclass Queueing Networks Under Priority Service Disciplines, Hong Chen and Hanqin Zhang, Operations Research January/February 2000 48:26-37


    Choosing between Up-or-Out and Spot Contracts: Human Capital Investment versus Job-Matching Considerations, Chun Chang and Yijiang Wang, Annals of Economics and Finance, 1, 189-210, 2000


    On Rate of Convergence of Discrete-time Contingent Claims, Guofu Zhou, Steve Heston, Mathematical Finance 10, 2000, 53--75


    Investment Horizon and the Cross Section of Expected Returns: Evidence from the Tokyo Stock Exchange, Guofu Zhou, Pin-Huang Chou and Yuan-Lin Hsu, Annals of Economics and Finance 1, 2000, 79--100.


    Explaining Bond Returns in Heterogeneous Agents Models: The Importance of Higher Order Moments, Harold Zhang, Nill, Journal of Economic Dynamics and Control, 24, 1381-1404, 2000


    Fixed Costs and Asset Market Participation, Amir Yaron and Harold H. Zhang, Revista De Analisis Economico, 15, 89-109, 2000


    Transform Analysis and Asset Pricing for Affine Jump-Diffusions, Jun Pan, Darrell Duffie and Kenneth Singleton, Econometrica, Volume 68, pages 1343--1376, 2000


    Optimal Consumption of a Divisible Durable Good, Hong Liu, Domenico Cuoco, Journal of Economic Dynamics and Control 24, 2000, 561-613


    A Martingale Characterization of Consumption Choices and Hedging Costs with Margin Requirements, Hong Liu, Domenico Cuoco, Mathematical Finance 10, 2000, 355-385


    Hedge Funds: The Living and the Dead, Bing Liang, The Journal of Financial and Quantitative Analysis 35 (Invited), 309-326, Sept. 2000


    Portfolio Formation, Measurement Errors, and Beta Shifts: A Random Sampling Approach, Bing Liang, The Journal of Financial Research 23, 261-284, Fall 2000


    Do All-stars Shine? An Evaluation of Analysts' Recommendations, Bing Liang, Hemang Desai and Ajai Singh, Financial Analysts Journal 56, 20-29, May/June 2000


    Bad News Travels Slowly: Size, Analyst Coverage and the Profitability of Momentum Strategie, Harrison Hong, Terence Lim and Jeremy C. Stein, Journal of Finance 55 (2000), 265-296


    Trading and Returns under Periodic Market Closures, Harrison Hong, Jiang Wang, Journal of Finance, 55 (2000), 297-354


    A Model of Returns and Trading in Futures Markets, Harrison Hong, Journal of Finance 55 (2000), 959-988


    Security Analysts’ Career Concerns and Herding of Earnings Forecasts, Harrison Hong, Jeffrey D. Kubik and Amit Solomon Rand, Journal of Economics 31 (2000), 121-144


    Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation, Jiang Wang,A.W. Lo and H. Mamaysky,Journal of Finance 55(2000), 1705-1770


    Trading and Returns Under Periodic Market Closures,Jiang Wang,H. Hong,Journal of Finance 55(2000), 297-354


    Trading Volume: Definitions, Data Analysis, and Implications of Portfolio Theory, Jiang Wang, A.W. Lo, Review of Financial Studies 13(2000), 257-300


    Conservative accounting and equity valuation, Xiaojun Zhang, Journal of Accounting and Economics, Volume 29, Issue 1, February (2000), Pages 125–149


    The Eyeballs Have It: Searching for the Value in Internet Stocks, Xiaojun Zhang, Brett Trueman, M. H. Franco Wong, Journal of Accounting Research,Vol. 38, (2000),Page 137-162


    Capital Structure as Optimal Contracts, Chun Chang, North American Journal of Economics and Finance 10, 363-385, 1999


    An Approximate Formula for Pricing American Options, Nengjiu Ju and Rui Zhong, Journal of Derivatives, 7, 31-40, 1999


    On the Performance of Hedge Funds, Bing Liang, Financial Analysts Journal 55, 72-85Price Pressure: Evidence from the ‘Dartboard’ Column, Bing Liang, Journal of Business 72 January (1999), 119-134


    Testing Symmetry and Proportionality in PPP: A Panel Data Approach, Kai Li, Journal of Business and Economic Statistics,17(1999) 409-418


    Exchange Rate Target Zone Models: A Bayesian Evaluation, Kai Li, Journal of Applied Econometrics, 14(1999), 461-490


    Bayesian Analysis of Duration Models: An Application to Chapter 11 Bankruptcy, Kai Li, Economics Letters, 63(1999), 305-312


    A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets, Harrison Hong, Jeremy C. Stein, Journal of Finance 54 (1999), 2143-2184


    On the Theory of Forecast Horizon in Equity Valuation, Xiaojun Zhang, James A. Ohlson, Journal of Accounting Research (1999), Vol. 37, No. 2, Autumn


    Is Money Smart? – A Study of Mutual Fund Investors’ Fund Selection Ability, Lu Zheng, The Journal of Finance 54 (3), 901 – 933


    Security Factors as Linear Combinations of Economic Variables, Guofu Zhou, Journal of Financial Markets 2(1999), 403--432


    Testing Multi-beta Pricing Models, Guofu Zhou, Raja Velu, Journal of Empirical Finance 6(1999), 219--241, Journal of Finance 54(1999), 1021--1048


    An Investigation of the Risk and Return Relation at Long Horizons, Harold Zhang, Paul Harrison, Review of Economics and Statistics 81(1999), 399-408


    Pricing an American Option by Approximating Its Early Exercise Boundary As a Multi-Piece Exponential Function, Nengjiu Ju, Review of Financial Studies, 11, 627-646, 1998


    Towards a Model of the Organizations in China as a Partially Reformed Developing Economy, Chun Chang and Yijiang Wang, China Economic Review 1998


    Moral Hazard Under Commercial and Universal Banking, John H. Boyd , Chun Chang and Bruce D. Smith, Journal of Money Credit and Banking, Vol. 30, No. 3, Part 2, August 1998


    Overparameterization in Seminonparametric Density Estimation, Harold Zhang, Ming Liu, Economics Letters 60(1998), 11-18


    Bayesian Inference in a Simultaneous Equation Model with Limited Dependent Variables, Kai Li, Journal of Econometrics 85(1998), 387-400


    Accrual Accounting and Equity Valuation, Xiaojun Zhang, James A. Ohlson, Journal of Accounting Research ,Vol. 36(1998),Page85-111


    Some Empirical Implications of a Model of Human Capital Investment under Asymmetric Information, Chun Chang and Yijiang Wang, Research in Labor Economics, 16, 103-117, 1997


    China’s Urban Industry, Chun Chang and Yijiang Wang, Regional Handbook of Economic and Political Development: Prospects onto the 21st Century, Chris Hudson ed., FitzRoy Dearborn Publishers, Chicago. 1997


    Going to Extremes: Correcting Simulation Bias in Exotic Option Valuation, Guofu Zhou, Phil Dybvig and David Beaglehole, Financial Analysts Journal 53(1997), 62--68


    Endogenous Borrowing Constraints with Incomplete Markets, Harold Zhang, Journal of Finance 52(1997), 2187-2209


    Endogenous Short Sale Constraint, Stock Prices and Output Cycles, Harold Zhang, Macroeconomic Dynamics 1(1997), 228-254


    An Overview of Value at Risk, Jun Pan, Darrell Duffie, Journal of Derivatives , Spring (1997), 7-4


    Market Structure, Security Prices and Informational Efficiency, Jiang Wang, J. Huang, Macroeconomic Dynamics 1(1997), 169-205


    Human Capital Investment under Asymmetric Information: the Pigovian Conjecture Revisited, Chun Chang and Yijiang Wang, Journal of Labor Economics, 14, 505-519, 1996


    Temporary Components of Stock Returns: What Do the Data Tell Us?,Guofu Zhou, Chris Lamoureux, Review of Financial Studies 9(1996), 1033--1059


    Measuring the Pricing Error of the Arbitrage Pricing Theory, Guofu Zhou, John Geweke, Review of Financial Studies 9(1996), 553--583


    Volume, Volatility, and Leverage: A Dynamic Analysis, Harold Zhang, George Tauchen and Ming Liu, Journal of Econometrics 74(1996), 177-208


    A Framework for Understanding Differences in Employment Stability and Human Capital Investment, Chun Chang and Yijiang Wang, Journal of Economic Behavior and Organization, 28, 91-105, 1995, Journal of Econometrics, 74, 177-208, 1996


    The Term Sturcture of Interest Rates In A Pure Exchange Economy With Heterogeneous Investors, Wang Jiang, Journal of Financial Economics 41, 75-110, 1996


    Time-to-Build Effects and the Term Structure, Zhou Guofu, Jack Strauss, Journal of Financial Research 18, 1995, 115-127


    Small Sample Rank Tests with Applications to Asset Pricing, Guofu Zhou, Journal of Empirical Finance 2, 1995, 71-93


    Differential Information and Dynamic Behavior of Stock Trading Volume, Wang Jiang, H. He, Review of Financial Studies 8, 919-972, 1995


    Implementing Option Pricing Formulas When Asset Returns Are Predictable, Wang Jiang, A.W. Lo, Journal of Finance 50, 87-130, 1995


    On Selectivity and Market Timing Ability of U.S.-Based International Mutual funds: Using Refined Jensen's Measure, Son-Nan Chen and Hoyoon Jang, GLOBAL FINANCE JOURNAL, Vol 5 No 1, Spring


    The Nature of Township-Village Enterprises, Chun Chang and Yijiang Wang, Journal of Comparative Economics 19, 434-452, 1994


    A Model of Competitive Stock Trading Volume, Wang Jiang, Journal of Political Economy 102, 127-167


    Asset Pricing Tests Under Alternative Distributions, Guofu Zhou, Journal of Finance 48, 1993, 1927-1942


    International Asset Pricing with Alternative Distributional Specifications, Guofu Zhou, Campbell Harvey, Journal of Empirical Finance 1, 1993, 107--131


    Trading Volume and Serial Correlation in Stock Returns, J. Campbell and S.Grossman, Quarterly Journal of Economics 108, 905-940, 1993


    A Model of Intertemporal Asset Prices Under Asymmetric Information, Jiang Wang, Review of Economic Studies 60, 249-282, 1993


    Payout Policy, Capital Structure, and Compensation Contracts when Managers Value Control, Chun Chang, Review of Financial Studies, Volume6, Issue 4 (Winter,1993), 911-933


    Dynamic Scheduling of a Multiclass Fluid Network, Hong Chen andDavid D. Yao, Operations Research November/December 1993 41:1104-1115


    Optimal Liquidation Rule and Debt in the Principal-Agent Model, Chun Chang and Yijiang Wang, Economics Letters, 40, 1992


    A Fluid Model for Systems with Random Disruptions, Hong Chen andDavid D. Yao, Operations Research May/June 1992 40:S239-S247


    Capital Structure as an Optimal Contract between Employees and Investors, Chun Chang, Journal of Finance, July 1992


    Small Sample Tests of Portfolio Efficiency, Guofu Zhou, Journal of Financial Economics 30, 1991, 165-191


    Algorithms for the Estimation of Possibly Nonstationary Time Series, Guofu Zhou, Journal of Time Series Analysis 13, 1991, 171--188


    The Influence of Non-Risk Factors on Real Estate Holdings of Pension Funds, Burik Paul, R. Ennis, Financial Analysts Journal


    Pension Fund Real Estate Investment under a Simple Equilibrium Pricing Model, Burik Paul, R. Ennis, Financial Analysts Journal


    The Dynamic Structure of Optimal Debt Contracts, Chun Chang, Journal of Economic Theory, October, 1990


    Bayesian Inference in Asset Pricing Tests, Guofu Zhou, Campbell Harvey, Journal of Financial Economics 26, 1990, 221--254


    Foreign Bonds in Diversified Portfolios, Burik Paul, R. Ennis, Financial Analysts Journal


    Empirical Evaluation of a Queueing Network Model for Semiconductor Wafer Fabrication, Hong Chen, J. Michael Harrison, Avi Mandelbaum, Ann Van Ackere, and Lawrence M. Wein, Operations Research March/April 1988 36:202-215


    The Issue Decision of Manager-Owners Under Information Asymmetry, William D. Bradford, The Journal of Finance, Vol. 42, No. 5 (Dec., 1987), pp. 1245-1260


    Minority Savings and Loan Associations: Hypotheses and Tests Minority Savings and Loan Associations: Hypotheses and Tests, William D. Bradford, The Journal of Financial and Quantitative Analysis, Vol. 13, No. 3 (Sep., 1978), pp. 533-547


    The Performance of Merging Savings and Loan Associations, William D. Bradford, The Journal of Business, Vol. 51, No. 1 (Jan., 1978), pp. 115-125


    The Efficiency and Profitability of Minority Controlled Savings and Loan Associations, William D. Bradford, Alfred E. Osborne, Jr., Lewis J. Spellman, Journal of Money, Credit and Banking, Vol. 10, No. 1 (Feb., 1978), pp. 65-74


    The Comparative Operating Efficiency of Black Savings and Loan Associations, Lewis J. Spellman, Alfred E. Osborne, Jr., William D. Bradford, The Journal of Finance, Vol. 32, No. 2, Papers and Proceedings of the Thirty-Fifth Annual Meeting of the American Finance Association, Atlantic City, New Jersey, September 16-18, 1976 (May, 1977), pp. 565-574


    Valuation, Leverage and the Cost of Capital in the Case of Depreciable Assets: Comment, William D. Bradford, The Journal of Finance, Vol. 30, No. 1 (Mar., 1975), pp. 214-220


    Price-Level Restated Accounting and the Measurement of Inflation Gains and Losses: A Reply, William D. Bradford, The Accounting Review, Vol. 50, No. 3 (Jul., 1975), pp. 586-587


    Inflation and the Value of the Firm: Monetary and Depreciation Effects, William D. Bradford, Southern Economic Journal, Vol. 40, No. 3 (Jan., 1974), pp. 414-427


    Price-Level Restated Accounting and the Measurement of Inflation Gains and Losses, William D. Bradford, The Accounting Review, Vol. 49, No. 2 (Apr., 1974), pp. 296-305