Article by Zhou Zhen, Assistant Professor from PBC School of Finance, Published in American Economic Review-PBCSF Tsinghua University

Recently, American Economic Review has officially accepted the article titled Diffusing Coordination Riskby Zhou Zhen, Assistant Professor from Tsinghua University PBC School of Finance (PBCSF) and his co-writer, which will be published soon.

(See the website : https://www.aeaweb.org/articles?id=10.1257/aer.20171034&&from=f)

Dr. Zhou Zhen received his Ph.D. in Economics from New York University and joined Tsinghua University PBC School of Finance as an Assistant Professor in 2016. Zhou Zhen’s current research focuses on financial economics and economics of information. His research interests include financial crises and regulation, corporate finance, systemic risk and financial networks.

In this article, Zhou Zhen and Deepal Basak, the co-writer, Assistant Professor from Indian School of Business, explored how policy makers prevent the occurrence of inefficient equilibrium results by means of information disclosure in a dynamic coordination problem.

The following are articles by full-time professors and visiting professors from PBC School of Finance taking the School as the author institution published in top 5 international economic journals and top 3 international financial journals:

VivianW. Fang, Xuan Tian and Sheri Tice, "Does Stock Liquidity Enhance or Impede Firm Innovation", Journal of Finance, vol.69(5), pp.2085–2125, 2014.

Li Liao, Bibo Liu, Hao Wang, "China's Secondary Privatization: Perspectives from the Split-share Structure Reform", Journal of Financial Economics, vol.113(3), pp.500-518, 2014.

Rob Stambaugh, Jianfeng Yu, and Yuan Yu, "The Long of it: Odds that Investor Sentiment Spuriously Predicts Anomaly Returns", Journal of Financial Economics, vol.114(3), pp.613-619, 2014.

Thomas J. Chemmanur, Elena Loutskina, Xuan Tian, "Corporate Venture Capital, Value Creation, and Innovation", Review of Financial Studies, vol.27(8), pp.2434-2473, 2014.

Chunmei Lin, Massimo Massa and Hong Zhang, “Mutual Funds and Information Diffusion: The Role of Country-Level Governance”, Review of Financial Studies, vol.27(11), pp.3343-3387, 2014.

Rob Stambaugh, Jianfeng Yu, and Yuan Yu, "Arbitrage Asymmetry and the Idiosyncratic Volatility Puzzle", Journal of Finance, vol.70(5), pp.1903-1948, 2015.

Jess Cornaggia, Yifei Mao, Xuan Tian, Brian Wolfe, "Does Banking Competition Affect Innovation", Journal of Financial Economics, vol.115 (1), pp189-209, 2015.

Massimo Massa, Wenlan Qian and Weibiao Xu, and Hong Zhang, “Competition of the Informed: Does the Presence of Short Sellers Affect Insider Selling?”, Journal of Financial Economics, vol.118, pp.268-288, 2015.

Massimo Massa, Bohui Zhang, and Hong Zhang,“The Invisible Hand of Short Selling: Does Short-Selling Discipline Earnings Management?”, Review of Financial Studies, vol.28, pp.1701-1736, 2015.

Yawen Jiao, Massimo Massa, and Hong Zhang, “Short Selling Meets Hedge Fund 13F: An Anatomy of Informed Demand”, Journal of Financial Economics, vol.122, pp.544–567, 2016.

Li An,"Asset Pricing When Traders Sell Extreme Winners and Losers", Review of Financial Studies, vol 29(3), pp.823-861, 2016.

Huafeng (Jason) Chen, “Do Cash Flows of Growth Stocks Really Grow Faster?”, Journal of Finance, vol.72(5), pp.2279-2330, 2017.

Huijun Wang, Jinghua Yan and Jianfeng Yu, "Reference-Dependent Preferences and the Risk-Return Trade-off", Journal of Financial Economics, vol.123, pp.395-414, 2017.

Juan M. Londono and Hao Zhou, “Variance Risk Premiums and the Forward Premium Puzzles”, Journal of Financial Economics, vol.124, pp.415–440, 2017.

Zhiguo He, Bin Wei, Jianfeng Yu and Feng Gao, "Optimal Long-term Contracting with Learning", Review of Financial Studies, vol.30(6), pp.2006-2065, 2017.

Junyan Shen, Jianfeng Yu, Shen Zhao, "Investor Sentiment and Economic Forces", Journal of Monetary Economics, Vol.86, pp.1-21, 2017.

Huijun Wang, Jinghua Yan, and Jianfeng Yu, "Reference-Dependent Preferences and the Risk-Return Tradeoff", Journal of Financial Economics, vol.123, pp.395-414, 2017.

Alon Brava, Wei Jiang, Song Ma, Xuan Tian,“How does hedge fund activism reshape corporate innovation?”, Journal of Financial Economics, vol.130(2), pp.237–264, 2018.

Mariano Croce, Riccardo Colacito, Steven Ho and Philip Howard, "BKK the EZ Way: International Long-Run Growth News and Capital Flows", American Economic Review, vol.108, pp.3416-3449, 2018.

Trevor Tombe and Xiaodong Zhu,“Trade, Migration, and Aggregate Productivity: A Quantitative Analysis of China”, American Economic Review, vol.109(5), pp.1843-1872, 2019.

Zhuo Chen, Zhiguo He and Chun Liu, “The Financing of Local Government in China: Stimulus Loan Wanes and Shadow Banking Waxes”, Journal of Financial Economics, forthcoming.

Zhan Shi,“Time-Varying Ambiguity, Credit Spreads, and the Levered Equity Premium”, Journal of Financial Economics, forthcoming.

Xiaoyan Zhang, Ekkehart Boehmer and Charles Jones, “Potential Pilot Problems: Treatment Spillovers in Financial Regulatory Experiments”, Journal of Financial Economics, forthcoming.

Zhen Zhou, "Deepal Basak,“Diffusing Coordination Risk”, American Economic Review, forthcoming.