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WEI XIONG Professor of Economics Department of Economics and Bendheim Center for Finance Princeton University 26 Prospect Avenue, Princeton, NJ 08540, USA Telephone: (609) 258-0282 Email: wxiong@princeton.edu Research Associate National Bureau of Economic Research |
RECENT PROFESSIONAL
ACTIVITIES:
·
Call
for Papers, 2013 NBER Meeting on Economics of Commodity Markets
·
2013 Symposium on China’s Financial
Markets
·
2012
NBER Meeting on Economics of Commodity Markets
·
2012 Symposium on China’s Financial
Markets
WORKING
PAPERS:
1. The
Informational Role of Commodity Futures Prices (with Conghui Hu) 
2. How Local and
Foreign Investors React to Public News (with Chunxin
Jia and Yaping Wang)
3. Feedback Effects of
Commodity Futures Prices (with Michael Sockin)
4. Wall Street and
the Housing Bubble [Online
Appendix] (with Ing-haw Cheng and Sahil Raina)
Summary on VoxEU; coverage by [FT
Gillian Tett], [James
Hamilton], [WSJ
Justin Lahart]
5. A Welfare Criterion
for Models with Distorted Beliefs (with
Markus Brunnermeier and Alp Simsek)
6. Convective Risk Flows in Commodity Futures Markets (with Ing-haw Cheng and Andrei Kirilenko), update coming soon
7. A Tale of Two Anomalies: The Implication of Investor Attention for Price and Earnings Momentum (with Kewei Hou and Lin Peng)
8. Is
R-Squared a Measure of Market Inefficiency? (with Kewei Hou and Lin Peng), updated
JOURNAL
PUBLICATIONS
1. Delegated Asset Management, Investment Mandates, and Capital Immobility (with Zhiguo He)
Journal of Financial Economics 107, 2013, 239-258 (lead article).
2. Index Investment and Financialization of Commodities (with Ke Tang)
Financial Analysts Journal 68 (6), 2012, 54-74.
Summary of findings and implications on VoxEU.
3. Debt Financing in Asset Markets [Online Appendix] (with Zhiguo He)
American Economic Review Papers & Proceedings 102, 2012, 88-94.
4. Dynamic Debt Runs (with Zhiguo He)
Review of Financial Studies 25, 2012, 1799-1843.
5. Rollover Risk and Credit Risk (with Zhiguo He)
Journal of Finance 67, 2012, 391-429 (lead article).
Awarded 2012 Smith Breeden Prize (first prize)
6. Realization Utility (with Nicholas Barberis)
Journal of
Financial Economics 104, 2012,
251-271.
7. The Chinese Warrants Bubble (with Jialin Yu)
American Economic Review 101, 2011, 2723-2753.
8. Heterogeneous Expectations and Bond Markets (with Hongjun Yan)
Review of
Financial Studies 23, 2010, 1433-1466.
9. What Drives the Disposition Effect? An Analysis of a Long-Standing Preference-Based Explanation (with Nicholas Barberis)
Journal of Finance 64, 2009, 751-784.
10. Speculative Trading and Stock Prices: Evidence from Chinese A-B Share Premia (with Jianping Mei and Jose Scheinkman)
Annals of Economics and Finance 10, 2009, 225-255.
11. Advisors and Asset Prices: A Model of the Origins of Bubbles (with Harrison Hong and Jose Scheinkman)
Journal of Financial Economics 89, 2008, 268-287.
12. A General Framework for Evaluating Executive Stock Options (with Ronnie Sircar)
Journal of Economic Dynamics and Control 31, 2007, 2317-2349.
13. Prospect Theory and Liquidation Decisions (with Albert Kyle and Hui Ou-Yang)
Journal of Economic Theory 129, 2006, 273-288.
14. Investor Attention, Overconfidence and Category Learning (with Lin Peng)
Journal of Financial Economics 80, 2006, 563-602.
15. Asset Float and Speculative Bubbles (with Harrison Hong and Jose Scheinkman)
Journal of Finance 61, 2006, 1073-1117.
16. Executive Compensation and Short-termist Behavior in Speculative Markets (with Patrick Bolton and Jose Scheinkman)
Review of Economic Studies 73, 2006, 577-610.
17. Overconfidence and Speculative Bubbles (with Jose Scheinkman)
Journal of Political Economy 111, 2003, 1183-1219.
18. Contagion as a Wealth Effect (with Albert Kyle)
Journal of Finance 56, 2001, 1401-1440.
19. Convergence Trading with Wealth Effects: An Amplification Mechanism in Financial Markets
Journal of Financial Economics 62, 2001, 247-292.
INVITED
CONTRIBUTIONS:
20. Bubbles,
Crises, and Heterogeneous Beliefs
Handbook for Systemic Risk, edited
by Jean-Pierre Fouque and Joe Langsam.
21. Investor Attention and Time-Varying Comovements (with Tim Bollerslev and Lin Peng)
European Financial Management 13, 2007, 394-422.
22. Pay for Short-Term Performance: Executive Compensation in Speculative Markets (with Patrick Bolton and Jose Scheinkman)
Journal of Corporation Law 30, 2005, 721-747.
23. Heterogeneous Beliefs, Speculation and Trading in Financial Markets (with Jose Scheinkman)
Paris-Princeton Lectures on Mathematical Finance 2003, 217-250, Springer-Verlag,
Berlin.