PROGRAMS

ADMISSIONS

FACULTY & RESEARCH

STUDENT

ALUMNI

INTERNATIONAL

NIFR

ABOUT

Chinese
Faculty & Research
Full-time Faculty

Hong Zhang

Detail

Professor Hong Zhang is currently Phoenix Chair Professor of finance at PBC School of Finance, Tsinghua University, a Director of China Finance Case Center, a Director of Phoenix Healthcare Finance Research Center, Tsinghua University PBCSF-NIFR. Before joining PBCSF, he had worked at INSEAD since 2004, and visited Yale School of Management in 2010 and Cheung Kong Graduate School of Business (CKGSC) in 2010 - 2012. Hong is experienced in MBA/EMBA teaching and senior Executive education, and had been recently interviewed by the Financial Times to comment on the practices and training of portfolio managers in the Asia-Pacific area.

Hong’s research covers international finance, institutions, investments (especially related to mutual funds and hedge funds), as well as corporate governance.  His recent paper, “Estimating the Dynamics of Mutual Fund Alphas and Betas,” co-authored with Harry Mamaysky and Matt Spiegel, was cited by The New York Times (May 18, 2003) and Financial Advisor Magazine (June 2004) as to "have solved a big problem for mutual fund rating systems."  The same paper had also been listed on SSRN's Top Ten download list for "AFA 2004 San Diego Meetings All Time Hits" and "European Finance Association Meetings (EFA) (Archive) All Time Hits."
Hong's recent work examines the impacts of market designs (e.g., institutions, global short selling, global competition, and currency benchmarking) and investor heterogeneity (e.g., hot money and cold money) on managerial incentives and performance.  His research is published in top finance journals such as Review of Financial Studies, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, and Review of Finance.

Hong received his PhD in Finance from Yale School of Management in December 2004.  Prior to studying finance, he studied physics in New York University and Fudan University and had won a national gold medal and national champion for experiments at 8th Chinese Physics Olympics.



Programs

>Tsinghua National Institute of Financial Research