Working Papers​

Adaptation to Climate-induced Regulatory Risk Through Technological Progress, with Hernan Ortiz-Molina and Xin Zheng

Selected Presentations: Harvard University​, AEA 2025, UNC-Duke Corporate Finance Conference 2025, China International Conference in Finance (CICF) 2025, Finance Down Under Conference 2025, CAPANA Annual Conference 2025, Hawaii Accounting Research Conference 2025, FMA 2024, 20th Annual Haskell and White Conference

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​​How Does Climate Change Reshape U.S. Entrepreneurship? A Labor Channel

​Selected Presentations: Harvard University, NBER Place-Based Policies and Entrepreneurship 2024, 4th Spring Finance Workshop

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Labor Exposure to Climate Risk, Productivity Loss, and Capital Deepening 

Revision requested, Journal of Financial and Quantitative Analysis

Selected Presentations: Harvard University​, SFS Cavalcade North America 2024, MFA 2024, Commodity and Energy Markets Association (CEMA) Annual Conference 2024 at Boston University, Swiss Society for Financial Market Research (SGF) Conference 2024 (cancelled), AFA 2023,  FIRS 2023, AEA Poster Session 2023, Stanford Preparing for a Changing Climate Conference 2023, 15th Annual Alliance for Research on Corporate Sustainability (ARCS) Ph.D. Workshop, NFA 2022, FMA 2022, FMA Doctoral Student Consortium 2022, LBS Trans-Atlantic Doctoral Conference (TADC)  2022, UBC Summer Conference 2022, 35th Australian Finance and Banking Conference, New Zealand Finance Meeting 2022, Liechtenstein Workshop of Sustainable Finance 2022, 6th Shanghai-Edinburgh-London Green Finance Conference, China International Risk Forum (CIRF), Financial Markets and Corporate Governance Conference 2022

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From Incidents to Outcomes: Consumer Reactions and Firm Responses to Negative Environmental and Social Practices

with Xin Zheng and Yuxiang Zheng

Revision requested, Review of ​Accounting Studies​

Selected Presentations: Northern Finance Association Meetings (NFA) 2023, the 3rd Conference on Corporate Social Responsibility at UMass Boston, Hawaii Accounting Research Conference 2024
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Credit Lines and Liquidity Demand and Supply, with John Chu

Selected Presentations: FMA European Conference 2022, 34th Australian Finance and Banking Conference​​​​​

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Publications

The Industry Expertise Channel of  Mortgage Lending, with Yongqiang Chu and Yuxiang Zheng

Journal of Financial and Quantitative Analysis, March 2026

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Agree to Disagree: Lender Equity Holdings, Within-syndicate Conflicts, and Covenant Design, with Yongqiang Chu and Luca Lin

Journal of Financial Intermediation, January 2024​

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​​​​​​​Other Works

Smart Beta, "Smarter" Flows, with Jie Cao, Jason Hsu, Linjia Song, and Xintong Zhan, Journal of Empirical Finance,  March 2025

Interest Rate Risk, Prepayment Risk and Banks’ Securitization of  Mortgages, Resting​​