Fuji Bank and Heller Professor of Finance

Latest Research Highlights

Don’t Trust, Verify: The Case of Slashing from a Popular Ethereum Explorer, 03/2023, with Jiasun Li and Zhengxun Wu.
Blockchain explorers are important look-up tools for on-chain activities, but their reliability remains understudied. We investigate Beaconcha.in for its accuracy in searching the Ethereum’s blockchain.

The Stock Connect to China, 01/2023, with Xiaoquan Zhu and Yuehan Wang. Prepared for AEA Papers and Proceedings.
The Stock Connect bridges Chinese mainland and international financial markets. Cross-border flows respond to macro-related shocks. Important to profile heterogeneous cross-border participants over market integration.

Homemade Foreign Trading, 1/2023, with Xiaoquan Zhu and Yuehan Wang.
Provide evidence that Chinese mainland insiders evade the see-through surveillance by round-tripping via the Stock Connect program, based on custodian holding data. After the 2018 Northbound Investor Identification reform, the correlation between insider trading and northbound flows decays, and so does the return predictability of northbound flows.

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