PhD, Harvard University, 2000; MA, Harvard University, 1997; BA, Wesleyan University, 1990.
Asset pricing, Market frictions, International markets
"Asset Price Dynamics with Limited Attention”, “Information Production, Volume, and Return Dynamics”, “Common Factors, Information, and Portfolio Choice”
Academic Positions Held
Arizona State University: Professor, 2016-present
Harvard Business School: Visitor, July 2015- December 2015
HKUST: Professor, 2011- 2015, Associate Professor 2008-2011
U.C. Berkeley, Assistant Professor, 2000-2007.
Career and Recent Professional Awards; Teaching Awards
JOIM Special Distinction Award, 2013
Franklin Prize Finalist, HKUST, 2009, 2011;
FMA Best Paper Award in Market Microstructure 2007
GSAM Quant Best Paper Prize, 2006
Cheit Award (Executive MBA), UC Berkeley, Dec 2005
Cheit Award (Daytime MBA), UC Berkeley May 2002
Cheit Award (Undergraduate), May 2002, May 2001 (2nd place)
“Investing in What You Know: The Case of Individual Investors and Local Stocks” (with N. Zhu) 2013, Journal of Investment Management 11 (1), 20-30.
“Risk and the Cross-Section of Stock Returns” (with R. Burlacu, S. Jimenez-Garces, and P. Fontaine) 2012, Journal of Financial Economics 105, 511-522.
“Trading Imbalances and the Law of One Price” (with C. Liu) 2011, Economics Letters 112, 132-134.
“Individual Investors and Local Bias” (with N. Zhu) 2010, Journal of Finance, 65(5) October, 1987-2011.
“Time-Variation in Liquidity: The Role of Market Maker Inventories and Revenues” (with C. Comerton-Forde, T. Hendershott, C. Jones, and P. Moulton) 2010, Journal of Finance, 65(1), 295-331.
“Trading Imbalances, Predictable Reversals, Cross-Stock Price Pressure” (with S. Andrade and C. Chang) 2008, Journal of Financial Economics, 88(2) May, 406-423.
ASU is a tier 1 research university and W. P. Carey is proud of its strong tradition of teaching and classroom excellence. Our students directly benefit from the research and theories our faculty brings into the classroom. Below is a list of courses being taught during the current semester by this faculty member. Click a course to view it in the ASU course catalog.
FIN 591 - Seminar
A small class emphasizing discussion, presentations by students, and written research papers.