Most of my papers can be downloaded from my SSRN page.

Working Papers

"The Gender Effects of COVID-19 on Equity Analysts", (with Frank Weikai Li). May 2021. 

"Incentives and Firm Investment: Evidence from China's Reform", (with Zhiguo He and Guanmin Liao). April 2021. 

         The Macroeconomy and Finance in China Conference; NBER Chinese Economy (scheduled)

"A New Value Strategy", December 2020

        American Association of Individual Investors; CXO Advisory Group

"The Portfolio-Driven Disposition Effect", (with Li An, Joseph Engelberg, Matthew Henriksson, and Jared Williams). May 2019. 

             Revise & Resubmit Journal of Finance

"Cryptocurrency Pump-and-Dump Schemes", (with Tao Li and Donghwa Shin). July 2020. 

             Revise & Resubmit Review of Financial Studies

             AEA; GSU/RFS FinTech conference; ABFER; Cornell; USF; CKGSB; SAIF; Fudan (Fanhai);

             Chicago Financial Institutions conference; Toronto FinTech conference; Renmin

             ABFER, CEPR, and CUHK First Annual Symposium in Financial Economics (scheduled);

             Blue Sky BlogBitcoin Exchange Guide; BitcoinNews; BTCNN; CCN; Coinigy Insights; LesEchos.fr;

             TheCryptoUpdates; XBT.net; Yahoo; 

            Nakamotojedi.com; EconomicPolicyJournal.com; 

             UFWarringtonNewsRoom;

            KenanInstitute; WIRED

"Probability Weighting and Asset Prices: Evidence from Mergers and Acquisitions", March 2017. 

              Reject & Resubmit Journal of Finance

"The Effect of Government Reference Bonds on Corporate Borrowing Costs: Evidence from a Natural Experiment" (with Mark Flannery and Claire Hong). May 2020. 

            Revise & Resubmit Management Science

            VoxChina; SFS Cavalcade Asia-Pacific 2019; ABFER (2020, scheduled)

"Ranking and Salience", March 2019. 

"The Investment-Return Relation" (with Claire Hong). March 2019

              

"The Nominal Price Premium", (with Justin Birru). March 2017. 

              Revise & Resubmit Critical Finance Review

Publications

"Demand Curves for Stocks Slope Down in the Long Run: Evidence from the Chinese Split-Share Structure Reform" (with Clark Liu). Feb 2021. Critical Finance Review forthcoming.

"Prospect Theory and Stock Market Anomalies" (with Nicholas Barberis and Lawrence Jin). December 2020. Journal of Finance forthcoming.

       NBER Behavioral Finance; AFA (2020); Miami Behavioral Finance conference (2019)

"The Impact of Salience on Investor Behavior: Evidence from a Natural Experiment", (with Cary Frydman), 2020. Journal of Finance 75 (1): 229-276. 

              2018 TD Ameritrade Best Paper Award in Behavioral Finance

"The Cash Conversion Cycle Spread", Journal of Financial Economics 133 (2): 472-497. Link to SAS code

"Prospect Theory and Stock Returns: An Empirical Test", (with Nicholas Barberis and Abhiroop Mukherjee), 2016. Review of Financial Studies 29 (11): 3108-3139.

"Nominal Price Illusion", (with Justin Birru), 2016. Journal of Financial Economics 119 (3): 578-598.

"The Liability of Opaqueness: State Ownership and the Likelihood of Deal Completion in International Acquisitions by Chinese Firms", (with Jiatao Li and Peixin Li). Strategic Management Journal 40 (2): 303-327. 

"Do Cross-Border Acquisitions Create Value? Evidence from Overseas Acquisitions by Chinese Firms", (with Jiatao Li and Peixin Li), 2016. International Business Review 25 (2): 471-483.

"Why Investors do not Buy Cheaper Securities? Evidence from a Natural Experiment", (with Kalok Chan and Zhishu Yang), 2019. Journal of Banking and Finance 101: 59-76. 

"Acquiring Organizational Capital", (with Peixin Li, Weikai Li, and Zilong Zhang), 2018. Finance Research Letters 25: 30-35.