Research

Journal of Finance (JF)more

• [2026/02] 94% 的人其实都想买股票——把「风险厌恶」和「麻烦」分开来量What Drives Investors' Portfolio Choices? Separating Risk Preferences from FrictionsMay 2026
• [2025/08] 美国只是侥幸活下来的那一个吗？Is the United States a Lucky Survivor? a Hierarchical Bayesian ApproachJun 2026
• [2024/04] 把坏消息主动说出口：当公司价值在随机游走，沉默反而更贵Disclosing a Random WalkJun 2026

Journal of Financial Economics (JFE)more

• [2026/07] 把风险揣进兜里：企业为什么主动持有有风险的金融资产？Bonding with Risk: Corporate Investment and Savings in Risky Financial AssetsMay 2026
• [2026/07] 外推者与逆向者：一把在实验室里量出来的尺子，丈量真实世界的买卖Extrapolators and Contrarians: Forecast Bias and Individual Investor Stock TradingMay 2026
• [2026/07] 一门高中理财课，能让金融犯罪少三成？Financial Literacy and Financial Crime: A Regression Discontinuity ApproachMay 2026

Review of Financial Studies (RFS)more

• [2026/03] 谁在持有这张债券，决定了它的价格Institutional Corporate Bond PricingMay 2026
• [2008/04] 「距离已死」？可在市政债的承销桌上，离得近反而更便宜Distance Still Matters: Evidence from Municipal Bond UnderwritingJun 2026
• [2008/04] 为什么「上市后跌跌不休」可能是一道算术题？Endogenous Events and Long-Run ReturnsJun 2026

Journal of Financial and Quantitative Analysis (JFQA)

• [2026] 董事会的「价值」，藏在一段慢慢平息的波动里Learning About DirectorsMay 2026
• [2022/09] 钱的温度：当「一块钱永远等于一块钱」不再成立Portfolio Choice with Non-Fungible Brokerage CashMay 2026

NBER Working Paper (NBER)

• [2026/05] 同样的加息，为什么德国的银行和西班牙的银行走向相反？The Heterogeneous Bank Lending Channel of Monetary PolicyMay 2026

Working Papers (SSRN)more

• [2026/05] 弱替代：因子动物园是从哪里冒出来的？The Origins of the Factor Zoo: Investors Weakly Substitute Across StocksMay 2026
• [2025] 这一次，美元贬给了谁看？——从一次「反常」的贬值，读出储备货币地位的松动Dollar Upheaval: This Time is DifferentJun 2026
• [2025] 机器学习是不是在「重新发明」套利？——给神经网络的超额收益找一个经济学基准Machine Learning as Arbitrage: Can Economics Help Explain AI?Jun 2026