2009 – present

Professor, School of Economics and Management, Tsinghua University.

2004 – 2009

Associate Professor, School of Economics and Management, Tsinghua University.

2001 – 2004

Lecturer, School of Economics and Management, Tsinghua University.

1/2007–6/2007

Visiting scholar to Sloan School of Management, MIT.

11/2001–12/2001

Visiting scholar to School of Management, HKUST.

Financial Market Microstructure, Portfolio Management and Security Analysis, Investments, Econometrics of Financial Markets, Managerial Economics, Financial Market and Investment Decision

Market Microstructure, Behavioral Finance, Banking and Financial Structure

Publication

1. Neil Pearson, Zhishu Yang and Jacky Qi Zhang, 2021, “The Chinese Warrants Bubble: Evidence from Brokerage Account Records”, Review of Financial Studies 34, 264-312.

2. Kalok Chan, Baolian Wang and Zhishu Yang, 2019, “Why Investors Do not Buy Cheaper Securities?  Evidence from a Natural Experiment”, Journal of Banking and Finance 101, 59-76.

3. Jun “QJ” Qian, Philip E. Strahan, and Zhishu Yang, 2015, “The Impact of Incentives and Communication Costs on Information Production: Evidence from Bank Lending”, Journal of Finance 70, 1457-1493.

4. Darren Duxbury, Robert Hudson, Kevin Keasey, Zhishu Yang, and Songyao Yao, 2015, “Do the Disposition and House Money Effects Coexist? A Reconciliation of Two Behavioral Biases”, Journal of International Financial Markets, Institutions & Money 34，55-68.

5. Darren Duxbury, Robert Hudson, Kevin Keasey, Zhishu Yang, and Songyao Yao, 2013, How prior realized outcomes affect portfolio decisions, Review of Financial Quantitative and Accounting 41, 611-629.

6. Warren Bailey, Victor Huang and Zhishu Yang, 2011, “Bank Loans with Chinese Characteristics: Some Evidence on Inside Debt in a State-Controlled Banking System”, Journal of Financial and Quantitative Analysis 46(6), 1795–1830.

7. Winnie Peng, K. C. John Wei, and Zhishu Yang, 2011, “Tunneling or Propping: Evidence from Connected Transactions in China”, Journal of Corporate Finance 17, 306-325.

8. Jingyun Ma, Fengming Song, Zhishu Yang, 2010, "The dual role of the government: securities market regulation in China 1980-2007", Journal of Financial Regulation and Compliance 18(2), 158 – 177.

9. Kuan-Pin Lin, Albert Menkveld and Zhishu Yang, 2009, "Chinese and World Equity Markets: A Review of the First Fifteen Years", China Economic Review 20(1), 29-45.

10. Chan, Kalok, Albert J. Menkveld, and Zhishu Yang, 2008, Information Asymmetry and Asset Prices: Evidence from the China Foreign Share Discount, Journal of Finance 63(1), 159-196.

11. Kalok Chan, Albert Menkveld and Zhishu Yang, 2007, “The informativeness of domestic and foreign investors’ stock trades: Evidence from the perfectly segmented Chinese market”, Journal of Financial Markets 10, 391-415.

    
    

Working Paper

1. Scott Baker, Efraim Benmelech, Zhishu Yang and Jacky Qi Zhang, 2021, “Fertility and Savings: The Effect of China’s Two-Child Policy on Household Savings”, Working paper.

2. Viral V. Acharya, Jun “QJ” Qian, Yang Su, and Zhishu Yang, 2021, “In the Shadow of Banks: Wealth Management Products and Issuing Banks’ Risk in China”, Working paper.

3. Christian T. Lundblad, Zhishu Yang and Jacky Qi Zhang, 2020, “Informed Trading Volume and Asset Prices: The Role for Aggressive Investors”, Working paper.