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RESEARCH INTEREST: Financial Economics, Information Economics, Asset Pricing, FinTech

TOPICS:  Financial Technology & Innovation, Blockchains, Mechanism & Information Design, Entrepreneurship, ​AI & Big Data Analytics, Digital Economy, Intervention & RegTech, China.

PEER REVIEWED ARTICLES:

Dynamic Interventions and Informational Linkages 
(with Steven Grenadier and Yunzhi Hu) | 2020, Journal of Financial Economics, 135(1), pp. 1-15.  
SSRN  |   Information Design | Intervention | Global Games 

Timing of Auctions of Real Options
2020, Management Science, 66(9), pp. 3799-4358, iii-iv.  
SSRN  |   Real Options | Auctions | Entrepreneurship | Corporate Finance 

Persuasion in Relationship Finance
(with Ehsan Azarmsa) | 2020, Journal of Financial Economics, 138(3), pp. 818-837.  
SSRN  Information Design | Relationship Banking | Entrepreneurship | Security Design 

Persistent Blessings of Luck: Theory and an Application to Venture Capital 
(with Yizhou Xiao) | 2022, Review of Financial Studies, 35(3), pp. 1183-1221. 
SSRN  Contracting | Venture Capital | Entrepreneurship | Investment Skill 

Information Cascades and Threshold Implementation: Theory and an Application to Crowdfunding (with Yizhou Xiao) | 2022, Journal of Finance, Forthcoming. 
SSRN  FinTech | Crowdfunding | Entrepreneurship | Dynamic Learning 

Knowledge Accumulation, Privacy, and Growth in a Data Economy
(with Danxia Xie and Longtian Zhang) | 2021, Management Science, 67(10), pp. 6480-6492. 
SSRN  Growth | Privacy | Data Economy | Innovation 

Endogenous Growth under Multiple Uses of Data
(with Wenshi WeiDanxia Xie, and Longtian Zhang) | 2022, Journal of Economic Dynamics and Control, Forthcoming. 
SSRN  Growth | Privacy | Data Economy | Innovation 

Blockchain Disruption and Smart Contracts

(with Zhiguo He) | 2019, Review of Financial Studies, 32(5), pp. 3412-3460. 

SSRN  |   FinTech | Blockchain | IO | Contracting 

Decentralized Mining in Centralized Pools
(with Zhiguo He and Jiasun Li) | 2021, Review of Financial Studies, 34(3), pp. 1191-1235. 

SSRN  BLockchain | Bitcoin | Sustainability | IO 
 

Tokenomics: Dynamic Adoption and Valuation 

(with Ye Li and Neng Wang) | 2021, Review of Financial Studies, Editor's Choice, 34(3), pp. 1105-1155

SSRN  |   Tokenomics | Blockchain | Platforms | Asset Pricing 

Token-based Platform Finance

(with Ye Li and Neng Wang| 2022, Journal of Financial Economics, 144(3), pp. 972-991. 

SSRN  |   Tokenomics | Platforms | Corporate Finance | Monetary Policy 

Deep Sequence Modeling: Development and Applications in Asset Pricing

(with Ke Tang, Jingyuan Wang, and Yang Zhang) | 2020, Journal of Financial Data Science, 3(1), pp 28-42. 

arXiv  |   Asset Pricing | Time Series | Machine Learning | AI 

Blockchain Architecture for Auditing Automation and Trust-building in Public Markets

(with Sean Cao, Meng Han, Qixuan Hou, and Baozhong Yang) | 2020, IEEE Computer, 53(7), pp. 20-28. 

arXiv  |   Accounting | Blockchain | Privacy-Preserving MPC 

Credit Allocation under Economic Stimulus: Evidence from China (with Haoyu Gao, Jacopo Ponticelli, and Xiaoguang Yang) | 2019, Review of Financial Studies, 32(9), pp. 3412-3460. 

SSRN  |   China | Credit | Intervention | Capital Market 

Policy Uncertainty and Innovation: Evidence from IPO Interventions in China 

(with Sabrina Howell) | 2020, Management Science, F67(11), pp. 6629-7289, iii-iv.

SSRN  |   China | IPO | Intervention | Innovation | Uncertainty 

Financing Entrepreneurship and Innovation in China (with Charles Lee, Yuanyu Qu, and Tao Shen) | 2020, Foundations and Trends® in Entrepreneurship, 16(1), PP. 1-64.

SSRN  |   China | Entreprneeurship | Intervention | Innovation | Capital Market 

BOOKS & BOOK CHAPTERS:

A Brief Introduction to Blockchain Economics
(with Long Chen and Yizhou Xiao) | Chapter 1 in Information for Efficient Decision Making: Big Data, Blockchain and Relevance,  edited by Kashi Balachandran, Work Scientific Publishers (December 2020), pp. 1-40. 
SSRN  |   Blockchain | DeFi | FinTech | System Design 

Analyzing Textual Information at Scale
(with Tengyuan Liang, Baozhong Yang, and Xiao Zhang)Chapter 10 in Information for Efficient Decision Making: Big Data, Blockchain and Relevance,  edited by Kashi Balachandran, Work Scientific Publishers (December 2020), pp. 239-271. 
SSRN  |   Textual Analysis | Interpretable AI | Unstructured Data 

Alternative Data in FinTech and Business Intelligence
(with Beibei Li and Tony Zhang) | Book Chapter in Palgrave Handbook of FinTech and Blockchain,  edited by Maurizio Pompella and Roman Matousek, Palgrave MacMillan (2021), pp. 217-242. 
SSRN  FinTech | Big Data | Business Analytics 

Categories and Functions of Crypto-Tokens
(with Yizhou Xiao) | Book Chapter in Palgrave Handbook of FinTech and Blockchain,  edited by Maurizio Pompella and Roman Matousek, Palgrave MacMillan (2021), pp. 267-284. 
SSRN  Cryptocurrency | Digital Asset | Asset Pricing 

Educating Entrepreneurs and Financing Innovation in Asia
(with
 Fei Yan, Yong Suk Lee, Charles Eesley, and Charles M.C. Lee) | Chapter 1 in Drivers of Innovation: Entrepreneurship, Education, and Finance in Asia,  edited by Yong Suk Lee and Fei Yan, Stanford University, CA. Shorenstein Asia-Pacific
Research Center Series with Brookings Institution Press (September 2022)

Amazon |   Entrepreneurship | Innovation | Development | China 

Financing Innovative Enterprises in China: A Public Policy Perspective
(with Charles M.C. Lee, Yuanyu Qu, and Tao Shen) | Chapter 11 in Drivers of Innovation: Entrepreneurship, Education, and Finance in Asia,  edited by Yong Suk Lee and Fei Yan, Stanford University, CA. Shorenstein Asia-PacificResearch Center Series with Brookings Institution Press (September 2022)
Amazon |   Entrepreneurship | Financial Market | Interventions | China 

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