張曉燕

教育背景

1997-2002 哥倫比亞大學，哥倫比亞商學院，金融與經濟系

2002年10月獲金融學博士學位（優秀榮譽畢業生）

1993-1997 北京大學，經濟學院，國際經濟系

1997年7月獲經濟學學士學位

工作經歷

2002.7-2010.6 康奈爾大學約翰遜管理學院，金融學助理教授

2010.6-2014.6 普渡大學克蘭納特管理學院，金融學副教授

2014.7-2018.8 普渡大學克蘭納特管理學院，金融學 Duke Realty 講席教授

2018.8-至今 清華大學五道口金融學院，副院長、金融學講席教授

研究領域： 國際金融、實證資產定價、金融科技、中國資本市場

教學方向： 衍生品、實證資產定價、風險管理、投資

2013.7 至今 管理科學，副主編

2017.7 至今 財務管理，副主編

2017.7 至今 銀行與金融期刊，副主編

2018.7 至今 實證金融學期刊，副主編

2020.7 至今 亞洲金融與經濟研究局，高級研究員

1.“Gambling or De-risking: Hedge Fund Risk Taking vs. Managers’ Compensation”

（with Chengdong Yin）Review of Financial Studies, forthcoming.

2.“Tracking Retail Investor Activity” (with Ekkehart Boehmer, Charles Jones and Xinran Zhang)

Journal of Finance, 2021, 76, 2249-2305.

3.“Can Shorts Predict Return? A Global Perspective”

(with Ekkehart Boehmer, Zsuzsa. R. Huszár, Yanchu Wang and Xinran Zhang)

Review of Financial Studies, 2021, 35, 2428-2463.

4.“Government Affiliation and Peer-to-Peer Lending Platforms in China”

(with Jinglin Jiang, Li Liao, and Zhengwei Wang)

Journal of Empirical Finance, 2021, 62, 87-106.

This paper won CFRC Best Paper Award.

5.“Strategic Risk Shifting and the Idiosyncratic Volatility Puzzle: An Empirical Investigation”

(with Zhiyao Chen, Ilya Strebulaev, and Yuhang Xing)

Management Science, 2020, 67(5), 2751-2772.

6.“Potential pilot problems：Treatment spillovers in financial regulatory experiments”

(with Ekkehart Boehmer and Charles Jones)

Journal of Financial Economics, 2020, 135, 68-87.

7.“What Do Short-Sellers Know?” (with Ekkehart Boehmer, Charles Jones and Julie Wu)

Review of Finance, 2020, 1-33.

This paper won the Spängler-IQAM award for the Best Investments Paper in the Review of Finance.

8.“Anticipating Uncertainty: Straddles around Earnings Announcement”

(with Chao Gao and Yuhang Xing)

Journal of Financial and Quantitative Analysis, 2018, 53, 2587-2617.

9.“Hedge Fund Performance Evaluation under the Stochastic Discount Factor Framework”

(with Haitao Li and Yuewu Xu)

Journal of Financial and Quantitative Analysis, 2016, 51, 231-257.

10.“The information content of the sentiment index” (with Steve Sibley, Yanchu Wang and Yuhang Xing)

Journal of Banking and Finance, 2016, 62, 164-179.

11.“Shackling Short Sellers: The 2008 Shorting Ban” (with Ekkehart Boehmer and Charles Jones)

Review of Financial Studies, lead article, 2013, 26, 1363-1400.

This paper won Best Paper Award at16th Mitsui Finance Symposium at University of Michigan.

12.“Aggregate Idiosyncratic Volatility” (with Geert Bekaert and Robert Hodrick)

Journal of Financial and Quantitative Analysis, lead article, 2012, 47, 1155-1185.

This paper won the William F. Sharpe Award for the best paper published in JFQA 2012.

13.“Empirical Evaluation of Asset Pricing Models: Arbitrage and Pricing Errors in Contingent Claims”

(with Zhenyu Wang)

Journal of Empirical Finance, 2012, 19, 65-78.

14.“Investing in Talents: Manager Characteristics and Hedge Fund Performances”

(with Haitao Li and Rui Zhao)

Journal of Financial and Quantitative Analysis, 2011, 46, 59-82.

15.“What Does the Individual Option Volatility Smirk Tell Us About Future Equity Returns?”

(with Yuhang Xing and Rui Zhao)

Journal of Financial and Quantitative Analysis, 2010, 45, 641-662.

16.“Evaluating Asset Pricing Models Using the Second Hansen-Jagannathan Distance”

(with Haitao Li and Yuewu Xu)

Journal of Financial Economics, 2010, 97, 279-301.

17.“International Stock Return Comovements” (with Geert Bekaert and Robert Hodrick)

Journal of Finance, 2009, 64, 2591-2626.

18.“High Idiosyncratic Volatility and Low Returns：International and Further U.S. Evidence”

(with Andrew Ang, Robert Hodrick, and Yuhang Xing)

Journal of Financial Economics, 2009, 91, 1-23.

19.“Which Shorts Are Informed?” (with Ekkehart Boehmer and Charles Jones)

Journal of Finance, lead article, 2008, 63, 491-527.

This paper won BSI Gamma Foundation Award,

and is one of the finalists for Smith-Breeden Award from JF.

20.“The Cross-Section of Volatility and Expected Returns”

(with Andrew Ang, Robert Hodrick, and Yuhang Xing)

Journal of Finance, 2006, 61, 259-299.

This paper is one of the 10 most cited paper in Journal of Finance since 2000.

21.“Specification Tests of International Asset Pricing Models”

Journal of International Money and Finance, 2006, 25, 275-307.

22.“Evaluating the Specification Errors of Asset Pricing Models” (with Robert Hodrick)

Journal of Financial Economics, 2001, 62, 327-376.

American Finance Association Annual Conference, 2004-2016, 2018, 2020, 2022.

Western Finance Association Annual Conference, 2001, 2004, 2005, 2007-2009, 2013, 2015, 2019-2022.

China International Conference in Finance, 2009-2022.

Summer Institute in Finance, 2012-2022.

China Finance Research Conference (program co-chair), 2017-2022.

China Fintech Research Conference (program co-chair), 2020-2022.

SFS Cavalcade Conferences, 2017-2022.

RFS Fintech Conference, 2017-2018.

Hong Kong Finance Symposium, 2016.

Wabash River Finance Conference (program chair), 2011, 2015.

Financing Economics and Accounting Annual Conference, 2005.

BSI Gamma Foundation Annual Conference, 2005.

European Finance Association Annual Conference, 2001, 2004.

2001: New York University.

2002: Cornell University, Pennsylvania State University, Rice University, Emory University,

University of Washington, University of Southern California, Ohio State University,

University of Rochester, University of Iowa, University of Toronto, University of Western Ontario,

University of Rochester.

2003: Duke University, University of Rochester.

2004:University of Hong Kong, Hong Kong Chinese University, Hong Kong Science and Technology University.

2005: University of Wisconsin at Milwaukee, SUNY at Binghamton, University of Toronto.

2008: University of Washington, University of Colorado, Georgia State University.

2009: Purdue University, Boston College, UT at Dallas, Indiana University, UC Riverside,

University of Maryland, University of Houston, University of Wisconsin at Madison.

2011: University of Georgia, University of Hawaii, George Mason University.

2012: Manchester Business School, University of Reading, Syracuse University,

Singapore Management University, Nanyang Business School.

2013: Georgetown University, University of Massachusetts, University of Hong Kong,

City University of Hong Kong, Tilburg University, Erasmus University, University of Maastricht.

2014: Tsinghua University, University of Sydney, Australian National University,

University of New South Wales, Tsinghua University.

2015: University of Illinois at UC, Zhejiang University, Renmin University.

2017: Temple University, Miami University, University of Oregon.

2019: University of North Carolina, University of Georgia, Georgia Tech University, Baruch College,

Hong Kong University, Nanyang Technology University, Singapore Management University.

2020: Shanghai Stock Exchange.

2021: Fudan University, Shanghai Jiaotong University, Shanghai Stock Exchange.

2022: University of Iowa, Northeast University of Finance and Economics.

現任清華大學五道口金融學院講席教授，正高級，中國證監會第十七屆發審委兼職委員。 ^[1] 

2017年9月30日，中國證券監督管理委員會2017年第6次主席辦公會議審議決定，聘任張曉燕為中國證券監督管理委員會第十七屆發行審核委員會兼職委員。 ^[2]