• ZHU, Ning

    Professor of Finance

  • Email:

    nzhu@saif.sjtu.edu.cn
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  • Support Staff:

    Iris Lei

  • Support Staff Email:

    hlei@saif.sjtu.edu.cn
  • Research Interests

    Behavioral Finance, China's Macro Economy and Financial Markets, Short Sales, Bankruptcy and Restructuring, Corporate Finance and M&A.

Ning Zhu is a Professor of Finance at the Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University. He is a Global leading expert on China's economy and financial system. Professor Ning Zhu is a faculty fellow at the Yale University and General Secretariat at the International Finance Forum. Previously, he was a chair professor at Tsinghua University and tenured professor of finance at University of California. He provides advising government agencies and corporations in the world and is frequently featured in global media.  In addition to his academic research, Professor Zhu helps asset management companies in a wide range of capacities. He has published award-winning and best selling "China's Guaranteed Bubble" and "The Investors' Enemy". During his leave from the University of California in 2008-2010, he leads award-winning quantitative strategies and portfolio advisory teams at Lehman Brothers and Nomura.


Journal Publications

1. Jingchi Liao, Cameron Peng, Ning Zhu, 2022, Extrapolative Bubbles and Trading Volume, The Review of Financial Studies

2. Conghui Hu, Yu-Jane Liu, Ning Zhu, 2021, Deleveraging Commonality, Journal of Financial Markets

3. Hu, Conghui, Yu-Jane Liu, and Ning Zhu, 2019, De-Leverage and Illiquidity Contagion, Journal of Banking & Finance

4. Chenjun Fang, and Ning Zhu, 2019, Name complexity, cognitive fluency, and asset prices, Review of Financial Economics

5. Chang, Matthew C., Chih‐Ling Tsai, Rebecca Chung‐Fern Wu, and Ning Zhu, 2018, Market Uncertainty and Market Orders in Futures Markets, Journal of Futures Markets

Working Papers

1. Zhu, Ning, and Mark Seasholes, 2010, The Local Bias of Individual Investors.

2. Zhu, Ning, Ravi Dhar, and Dan Ariely, Why Individuals Favor Split Stocks.

3. Zhu, Ning, Ravi Dhar, William Goetzmann, and Shane Shepherd, The Impact of Clientele Change: Evidence from Stock Splits.

4. Zhu, Ning, Search Costs and Individual Choice between Direct and Delegated Portfolio Management.

5. Zhu, Ning, Mao-Wei Hung, Yu-Jane Liu, and Chia-Fen Tsai, Portfolio Choice and Background Risk: New Evidence from Taiwan.

6. Zhu, Ning, Li Liao, Zhisheng Li, Weiqiang Zhang, Security Supply and Bubble: a Natural Experiment from the Chinese Warrants Market.

7. Zhu, Ning, Yu-Jane Liu, and Yi-Tsung Lee, Is There Information in Insider Trading? New Evidence from Taiwan.

8. Zhu, Ning, and Arturo Bris, Momentum Profit, Contrarian Profit, and Short Sales around the World.

9. Zhu, Ning, Arturo Bris, and Douglas Baird, The Dynamics of Large and Small Chapter 11 Cases: An Empirical Study.

10. Zhu, Ning, and Christopher Malloy, Mutual Fund Choices and Investor Demographics.

11. Zhu, Ning, and Steven Strauss, Buy-Side Analysts, Sell-Side Analysts, and Equity Trading Businesses.

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