WORKING PAPERS

  • Investment Preference and Underperformance of Actively Managed Mutual Funds
    ♦ Job Market Paper
    ♦ Best Doctoral Student Paper, 2013 Southwestern Finance Association (SWFA) Annual Meeting
    ♦ Presented in 2012 Financial Management Association (FMA) Doctoral Student Consortium
    ♦ Presented at the University of Texas at Dallas, 2012
  • Beta is still alive! with Yexiao Xu
    ♦ SSRN top ten download list
    ♦ Presented at 2012 China International Finance Conference
    ♦ Presented at Cheung Kong Graduate School of Business, 2012
    ♦ Presented at the Univeristy of Texas at Dallas, 2012
  • Simulation-based Analysis of Asset Pricing Model, with Valery Polkovnichenko and Yexiao Xu
    ♦ Presented at 2013 Southwestern Finance Association Annual Meeting
    ♦ Presented at the University of Texas at Dallas, 2011
  • Re-assess Analyst Dispersion Puzzle, with Yexiao Xu
    ♦ Presented at 2012 Financial Management Association (FMA) Annual Meeting
    ♦ Presented at 2012 Southwestern Finance Association Annual Meeting
    ♦ Presented at 2011 China International Finance Conference
    ♦ Presented at the University of Texas at Dallas, 2010
  • Do Entrenched Managers prefer bonds? with Lin Zou
    ♦ Best Paper, 6th International Business and Social Science Research Conference, 2013
    ♦ Presented in 2012 Southwestern Finance Assocaition Annual Meeting

PUBLICATIONS

  • Zijun Wang and Yihua Zhao, 2005, The effect of IMF's Fund-supported Programs on the Macroeconomic Performance: Empirical Evidence, Nankai Economic Studies, 5, 59-64.
  • Yihua Zhao, 2006, The Effect of Management Buyouts (MBO) on Firm's Performance: Empirical Evidence from China, Finance and Economics, 10, 68-69.
  • Yihua zhao, 2006, Re-examination of the Relation between Firm Size and Expected Return in China's Stock Market, Journal of Shanghai Finance College, 2, 25-30.

RESEARCH INTEREST

    Empricing Asset Pricing

  • Risk instability and expected return
  • Analyst forecast and market efficiency
  • Real investment and risk dynamics
  • Stock comovement and supply chain

    Investment Management

  • Mutual fund's investment preference and performance

WORKING IN PROGRESS

  • Real Investment, Dynamic Risk, and Expected Return
  • Supply Chain and Stock Comovement (with Meng Li)
  • Q-theory with Investment Friction and Cash Holding (with Seong-Kyu Byun)

MEDIA AND PROFESSIONAL CITATION

    Investment Preference and Underperformance of Actively Managed Mutual Funds

  • The Motley Fool, March 25, 2013