• WU, Fei

    Term Professor, LLC Program Academic Director, EED Programs Faculty Co-Director

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    Queenie Liu

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  • Research Interests

    Behavioral Finance, Market Microstructure, International Financial Markets.

Dr. Fei Wu is a Term Professor, LLC Program Academic Director, and EED Program Faculty Co-Director at the Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University. He also serves as the Director of the CAFR-Kaiyin Joint Research Laboratory and CAFR-Jinchen Joint Research Laboratory at the China Academy of Financial Research (CAFR). Prior to joining SAIF, Professor Wu was a Professor of Finance and Associate Dean at the International Institute for Financial Studies at Jiangxi University of Finance and Economics. He was also a faculty member at the College of Business, Massey University (New Zealand) from 2004 to 2010.

Professor Wu's research concentrates on behavioral finance, market microstructure, and international financial markets. He has published over 50 articles in leading financial journals, including Financial Management, Journal of Banking and Finance, Journal of Financial Markets, Journal of International Business Studies, and Review of Finance. His research findings have been extensively reported by Plansponsor Magazine, CFA Digest, and other media outlets. Professor Wu has co-authored significant chapters in two books: Handbook of Trading, and Frontiers of Western Research in the Humanities and Social Sciences. He has successfully led and completed three National Natural Science Foundation projects, one of which received an "excellent" rating in the final performance evaluation.

Professor Wu was awarded the 2008 Massey University Outstanding Young Researcher Medal and the 2010 Jiangxi University of Finance and Economics "Top Ten Scientific Research" title. His paper received the Best Paper Award of "Chinese Financial Market" by the Chinese Finance Association in 2011 and the Best Paper Award of the Chinese Finance Annual Meeting in 2012. Professor Wu has been selected as one of the "New Century Outstanding Talents" of the Ministry of Education and served as the Director of the Asian Finance Association and the Co-Executive Chairman of the Asian Finance Association Annual Meeting in 2013. He has also been a Contributing Editor of the international journals Emerging Market Finance and Trade and Economic Systems.

Professor Wu's practical research primarily focuses on wealth management. His Chinese Family Wealth Management case, "One Tiger Per Mountain: The He Family Office", was published in the Harvard Business School (HBS) case library. Professor Wu has authored and published several books, such as Family Wealth Management: The Key to Protecting, Managing, and Passing on Wealth, and Moving on Steadily: The Path to Wealth and Health for China's Newly Rich. He has also translated and published The Family Office Encyclopedia and The Family Office Guide. Professor Wu is the Chief Consultant of the Family Wealth Management Committee of the International Financiers Forum, the Co-Editor of Wealth Management magazine, and the Wealth Management Column Writer for the Forbes Chinese website, FT Chinese website, Fortune Chinese website, People's Daily, Sina Finance, Caixin, and Shanghai Securities News. He has also served as a judge for various competitions, including "First Financial

-RFP Financial Elite", "Forbes China Financial Planner", "Sina Financial Gold Medal Financial Planner", and "Hurun Gold Medal Financial Planner". Dr. Wu has published numerous research reports on the wealth management industry in cooperation with ICBC Private Bank, Charles Schwab, UBS, and Ant Research Institute.

Professor Wu teaches courses on "Principles of Finance", "Venture Capital and Private Equity", "Wealth Management of High Net Worth Individuals", and "Framework and Core Value of Family Wealth Management" for Goldin MBA, EMBA, and DBA programs. He has also provided professional training for institutions, including: China International Financial Exchange, Dalian Commercial Exchange, Fujian Banking Regulatory Bureau, Shanghai Banking Association, Industrial and Commercial Bank, Industrial Bank, China CITIC Bank, Guotai Junan, and China Merchants Securities.

Professor Wu received his Ph.D. in Finance from University College Dublin in 2004.

Journal Publications

1. Chi, Yeguang, Jingbin He, Xinru Ma and Fei Wu, 2023, Air Pollution and Institutional Investors' Valuation Bias during Initial Public Offerings, Pacific-Basin Finance Journal.

2. Chi, Yeguang, Jingbin He, Xinru Ma and Fei Wu, 2023, Institutional Investor Inattention Bias in Auctioned IPOs, Journal of Banking & Finance.

3. Huang, Tao, Junye Li, Fei Wu and Ning Zhu, 2022, R&D information quality and stock returns, Journal of Financial Markets.

4. Chi, Yeguang, Jingbin He, Fei Wu, and Bijiao Yi,, 2022, Optimal Information Production of Mutual Funds: Evidence from China, Journal of Banking & Finance.

5. Deuskar, Prachi, Deng Pan, Fei Wu, and Hongfeng Zhou, 2021, How does Regret Affect Investor Behaviour? Evidence from Chinese Stock Markets, Accounting and Finance.

6. Garvey, Ryan, Tao Huang, and Fei Wu, 2021, Is Faster or Slower Trading Better? An Examination of Order Type Execution Speed and Costs, European Financial Management.

7. Huang, Tao, Fei Wu, Jing Yu, and Bohui Zhang, 2020, Investor protection and the value impact of stock liquidity, Journal of International Business Studies.

8. Garvey, Ryan, Tao Huang, and Fei Wu, 2017, Why Do Traders Split Orders?, Financial Review.

9. 胡援成, 刘元秀, 吴飞, 吴志明, 2017, 高管薪酬、业绩与胜任力识别:一项行为金融实验, 《经济学(季刊)》。

10. Garvey, Ryan, Tao Huang, and Fei Wu, 2016, Why Do Traders Choose Dark Markets?, Journal of Banking & Finance.

11. Ng, Lilian, Fei Wu, Jing Yu, and Bohui Zhang, 2016, Foreign Investor Heterogeneity and Stock Liquidity around the World, Review of Finance.

12. Huang, Tao, Fei Wu, Jing Yu, and Bohui Zhang, 2015, International Political Risk and Government Bond Pricing, Journal of Banking & Finance.

13. Huang, Tao, Fei Wu, Jin Yu, and Bohui Zhang, 2015, Political Risk and Dividend Policy: Evidence from International Political Crises, Journal of International Business Studies.

14. 桂林, 张琦, 吴飞, 2015, 分利行为、舆论监督与政府治理:内生政府治理机制, 《经济学(季刊)》。

15. Garvey, Ryan, and Fei Wu, 2014, Clustering of Intraday Order-sizes by Uninformed versus Informed Traders, Journal of Banking & Finance.

16. Garvey, Ryan, and Fei Wu, 2011, Information, Execution Quality and Order Routing on Nasdaq, Journal of Empirical Finance.

17. Garvey, Ryan, and Fei Wu, 2010, Speed, Distance and Electronic Trading: New Evidence on Why Location Matters, Journal of Financial Markets.

18. Ng, Lilian, and Fei Wu, 2010, Peer Effects in the Trading Decisions of Individual Investors, Financial Management.

19. Garvey, Ryan, and Fei Wu, 2009, Intraday Time and Order Execution Quality Dimensions, Journal of Financial Markets.

20. Ng, Lilian, and Fei Wu, 2007, The Trading Behavior of Institutions and Individuals in Chinese Equity Markets, Journal of Banking & Finance.

21. Garvey, Ryan, Anthony Murphy, and Fei Wu, 2007, Do Losses Linger? Evidence from Proprietary Stock Traders, The Journal of Portfolio Management.

22. Ng, Lilian, and Fei Wu, 2006, Revealed Stock Preferences of Individual Investors: Evidence from Chinese Equity Markets, Pacific-Basin Finance Journal.