Research

Publications

Anomalies, 2009, with Dmitry Livdan and Lu Zhang, Review of Financial Studies, lead article, 22(11), 4301–4334.
Nominal Rigidities, Asset Returns and Monetary Policy, 2014, with Francisco Palomino, Journal of Monetary Economics, 66, 210–225.
Corporate Governance and Costs of Equity: Theory and Evidence, with Di Li, 2018, Management Science, 64(1), 83–101
Do Underwriters Compete in IPO pricing? with Evgeny Lyandres and Fangjian Fu, 2018, Management Science, 64(2), 925–954
Inventory Behavior and Financial Constraints: Theory and Evidence, with Sudipto Dasgupta and Dong Yan, 2019, Review of Financial Studies, 32(3), 1188-1233
The CAPM Strikes Back? An Equilibrium Model with Disasters, with Hang Bai, Kewei Hou, Howard Kung, Lu Zhang, 2019, Journal of Financial Economics, 131(2), 269-298
Macroeconomic Risks and Asset Pricing: Evidence from a Dynamic Stochastic General Equilibrium Model, with Haitao Li, Shujing Wang, and Cindy Yu, 2019, Management Science, 65(8), 3449-3947
Real and Nominal Equilibrium Yield Curves, with Alex Hsu and Francisco Palomino, 2021, Management Science, 67(2), 1138-1158
Does Fiscal Policy Matter for Stock-Bond Return Correlation?, with Tao Zha, Ji Zhang and Hao Zhou, 2022, Journal of Monetary Economics, 128(2022), 20-34

Firm-Level Irreversibility, with Hang Bai, Chen Xue, and Lu Zhang, Reject & Resubmit at Journal of Finance
The Marginal Value of Cash: Structural Estimates from a Model with Financing and Agency Frictions, with Sudipto Dasgupta and Di Li, Revise & Resubmit at Management Science
Asymmetric Investment Rates, with Hang Bai, Chen Xue, and Lu Zhang
Fundamental Anomalies, with Guoliang Ma, Shujing Wang, and Cindy Yu, Revise & Resubmit at Management Science
The Impact of Securities Regulation on New Keynesian Firms, with Jin Xie and Ji Zhang