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WEI XIONG（熊伟） 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 |
RECENT PROFESSIONAL
ACTIVITIES:
Call for
Papers, 2014 Symposium on Emerging Financial Markets: China and Beyond
2013
NBER Meeting on Economics of Commodity Markets
2013 Symposium on Chinese Financial
Markets
2012
NBER Meeting on Economics of Commodity Markets
2012 Symposium on Chinese Financial
Markets
WORKING
PAPERS:
1. Credit
Expansion and Financial Instability: Evidence from Stock Prices (with
Matthew Baron)
2. Learning about the
Neighborhood: A Model of Housing Cycles (with Michael Sockin)
3. The
Financialization of Commodity Markets (with Ing-haw
Cheng)
Prepared for Annual
Review of Financial Economics
4. Social Trust and
Differential Reactions of Local and Foreign Investors to Public News (with Chunxin Jia and Yaping Wang)
5. Informational Frictions and Commodity Markets (with Michael Sockin)
6. A Welfare Criterion for Models with Distorted Beliefs (with Markus Brunnermeier and Alp Simsek)
7. Convective Risk Flows in Commodity Futures Markets (with Ing-haw Cheng and Andrei Kirilenko)
8. A Tale of Two Anomalies: The Implication of Investor Attention for Price and Earnings Momentum (with Kewei Hou and Lin Peng)
9. Is
R-Squared a Measure of Market Inefficiency? (with Kewei Hou and Lin Peng), updated
JOURNAL
PUBLICATIONS
1. Wall Street and the Housing Bubble [Online Appendix] (with Ing-haw Cheng and Sahil Raina)
American Economic Review, forthcoming
Summary on VoxEU; coverage by [FT Gillian Tett], [James Hamilton], [WSJ Justin Lahart]
2. Why Do Hedgers Trade So Much? (with Ing-haw Cheng)
Journal of Legal Studies, forthcoming
3. Delegated Asset Management, Investment Mandates, and Capital Immobility (with Zhiguo He)
Journal of Financial Economics 107, 2013, 239-258 (lead article).
4. Index Investment and Financialization of Commodities (with Ke Tang)
Financial Analysts Journal 68 (6), 2012, 54-74.
Summary of findings and implications on VoxEU.
5. Debt Financing in Asset Markets [Online Appendix] (with Zhiguo He)
American Economic Review Papers & Proceedings 102, 2012, 88-94.
6. Dynamic Debt Runs (with Zhiguo He)
Review of Financial Studies 25, 2012, 1799-1843.
7. Rollover Risk and Credit Risk (with Zhiguo He)
Journal of Finance 67, 2012, 391-429 (lead article).
Awarded 2012 Smith Breeden Prize (first prize)
8. Realization Utility (with Nicholas Barberis)
Journal of
Financial Economics 104, 2012,
251-271.
9. The Chinese Warrants Bubble (with Jialin Yu)
American Economic Review 101, 2011, 2723-2753.
10. Heterogeneous Expectations and Bond Markets (with Hongjun Yan)
Review of
Financial Studies 23, 2010, 1433-1466.
11. What Drives the Disposition Effect? An Analysis of a Long-Standing Preference-Based Explanation (with Nicholas Barberis)
Journal of Finance 64, 2009, 751-784.
12. 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.
13. 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.
14. A General Framework for Evaluating Executive Stock Options (with Ronnie Sircar)
Journal of Economic Dynamics and Control 31, 2007, 2317-2349.
15. Prospect Theory and Liquidation Decisions (with Albert Kyle and Hui Ou-Yang)
Journal of Economic Theory 129, 2006, 273-288.
16. Investor Attention, Overconfidence and Category Learning (with Lin Peng)
Journal of Financial Economics 80, 2006, 563-602.
17. Asset Float and Speculative Bubbles (with Harrison Hong and Jose Scheinkman)
Journal of Finance 61, 2006, 1073-1117.
18. Executive Compensation and Short-termist Behavior in Speculative Markets (with Patrick Bolton and Jose Scheinkman)
Review of Economic Studies 73, 2006, 577-610.
19. Overconfidence and Speculative Bubbles (with Jose Scheinkman)
Journal of Political Economy 111, 2003, 1183-1219.
20. Contagion as a Wealth Effect (with Albert Kyle)
Journal of Finance 56, 2001, 1401-1440.
21. Convergence Trading with Wealth Effects: An Amplification Mechanism in Financial Markets
Journal of Financial Economics 62, 2001, 247-292.
INVITED
CONTRIBUTIONS:
22. Are Commodity Futures Prices Barometers of the Global Economy? (with Conghui Hu)
Apres le Deluge: Finance and the Common Good after the Crisis, edited by E. Glen Weyl, Edward L. Glaeser, and Tano Santos.
23. Bubbles, Crises, and Heterogeneous Beliefs
Handbook for Systemic Risk, edited
by Jean-Pierre Fouque and Joe Langsam.
24. Investor Attention and Time-Varying Comovements (with Tim Bollerslev and Lin Peng)
European Financial Management 13, 2007, 394-422.
25. Pay for Short-Term Performance: Executive Compensation in Speculative Markets (with Patrick Bolton and Jose Scheinkman)
Journal of Corporation Law 30, 2005, 721-747.
26. Heterogeneous Beliefs, Speculation and Trading in Financial Markets (with Jose Scheinkman)
Paris-Princeton Lectures on Mathematical Finance 2003, 217-250, Springer-Verlag,
Berlin.