Full-time Faculty

Faculty CV

Academic Appointments                                             

2014-Now         Tsinghua University, PBC School of Finance

                            Assistant Professor

2016 summer  Hong Kong University of Science and Technology, Business School

                            Visiting Assistant Professor



2008-2014       Ph.D. in Economics, Columbia University

                           Thesis Chairman: Professor Kent Daniel

2004-2008       B.A. in Economics, B.S. in Mathematics, Peking University

                           (with highest honor)


Research Interests                                                                       

Empirical Asset Pricing, Behavioral Finance



[2] “Asset Pricing When Traders Sell Extreme Winners and Losers” (previously distributed under the name “The V-shaped Disposition Effect”), Review of Financial Studies, 2016, Vol. 29 (3), 823-861.

Award: Chicago Quantitative Alliance (CQA) Academic Competition, First Prize, 2014.

Crowell Memorial Prize, PanAgora Asset Management, Third Prize, 2014.

Media Coverage: CFA Digest

[1] Barriers to Long-Term Cross-Border Investing: A Survey of Institutional Investor Perceptions”, (with Rachel Harvey, Patrick Bolton, Laurence Wilse-Sampson, and Frederic Samama), Rotman International Journal of Pension Management, 2014, Vol. 7 (2).


Working Papers                                                                              

[1] Overselling Winners and Losers: Mutual Fund Trading Behavior and Price Effects” (with Bronson Argyle).

Conference: 2015 EFMA, 2015 Red Rock Finance Conference.

[2] Lottery-Related Anomalies: The Role of Reference-Dependent Preferences” (with Huijun Wang, Jian Wang, and Jianfeng Yu).

Award: Chicago Quantitative Alliance Asia Academic Competition, First Prize, 2016.

Conference: 2015 NFA, 2016 FIRS, 2016 CICF, 2016 EFA, 2016 FMA.


Fellowship, Honors and Awards                                                                     

1. Chicago Quantitative Alliance Asia Academic Competition, First Prize, 2016.

2. Chicago Quantitative Alliance Academic Competition, First Prize, 2014.

3. Crowell Memorial Prize by PanAgora Asset Management, Third Prize, 2014.

4. Faculty Fellowship, Columbia University, 2008-2014.

5. Peking University Undergraduate Award (with highest honor), 2004-2008.

6. Presidential Scholarship for Undergraduate Research, Peking University, 2007.


Seminar Presentations and Conferences                                                          

2017  University of Mannheim.

2016  FIRS, CICF, EFA, FMA, CQAsia, Hong Kong University, Chinese University of Hong Kong, Peking University.

2015  Hong Kong University of Science and Technology, Cheung Kong Graduate School of Business, Peking University GSM, Red Rock Finance Conference, Northern Finance

Association, European Financial Management Association, Wuhan University.

2014  Columbia Business School, PBC School of Finance at Tsinghua University, PanAgora Asset Management, Research Affiliates, Moody’s Analytics, Cornerstone Reserch, The Brattle Group, Analysis Group, Chicago Quantitative Alliance.

*: scheduled, : presented by coauthor


Professional Service                                                                             

Ad-hoc Referee: Review of Financial Studies, Management Science, Journal of Banking and Finance, Journal of Financial Markets, Journal of Empirical Finance, Southern Economic Journal.

Program committee: FMA Asia Pacific Conference (2018)



Financial Derivatives (master).


Other Professional Activities                                    

Research Assistant, Columbia University

·     Joseph Stiglitz, 2010-2013.

·     Patrick Bolton, for Sovereign Wealth Fund Research Initiative, 2010-2011.

Summer Intern, Asian Century Quest Capital, 2010.



>Tsinghua National Institute of Financial Research