师资队伍
Faculty

韩冰

Personal information

Rotman School of Management Tel: (416) 946-0732

University of Toronto Fax: (416) 478-5433

105 St. George Street Toronto, Ontario, Canada M5S3E6

Email:Bing.Han@Rotman.Utoronto.Ca

EDUCATION

2002 Ph.D. in Finance Anderson Graduate School of Management, UCLA

1997 Ph.D. in Mathematics The University of Chicago

AWARDS & HONORS & GRANTS

2013 GARP Risk Management Research Program Award

American Association of Individual Investors award for outstanding paper in asset pricing research, 2013 Midwest Finance Association Conference

Nominated for the 2012-13 McCombs School Award for Research Excellence

Spängler IQAM Best Paper Prize (runners-up), for the best papers published in the Review of Finance in 2011

Hong Kong Government Research Grant (as a co-investigator), 2011

CBA Foundation Advisory Council Fellowship, University of Texas, 2011-2013

CBA Foundation Research Excellence Award, University of Texas, 2009-2010

CIBER Grant, 2007-2008, University of Texas

Dean’s Summer Research Fellowship, 2005, Ohio State University

Research Fellow, Charles A. Dice Center for Research in Financial Economics, 2002-2006

CIBER Global Competence Awards 2004-2005, Ohio State University

UCLA Regents Fellowship, 1997-2001

College Scholarship, University of Chicago, 1992-1997

University Fellowship, University of Chicago, 1991-1992

Guang-Hua Scholarship, Nankai University, China, 1988-1991

First Prize in Chinese Mathematical Olympiad, 1987

RESEARCH INTERESTS

Theoretical and Empirical Asset Pricing

Behavioral Finance

Risk Management

Real Estate Finance

WORK EXPERIENCE

7/2013-present: Professor of Finance, Rotman School of Management, University of Toronto

12/2009-6/2013: Associate Professor of Finance (with tenure), McCombs School of Business, University of Texas at Austin

7/2012-present: Special-Term Professor of Finance, Shanghai Advanced Institute of Finance

6/2009-present: Visiting Professor, Guanghua School of Management, Peking University

5/2011 & 12/2012: Visiting Professor, Chinese University of Hong Kong

7/2006-12/2009: Assistant Professor of Finance, University of Texas at Austin

7/2008: Visiting Associate Professor, Cheung Kong Graduate School of Business

7/2002-6/2006: Assistant Professor of Finance, Ohio State University

1/1998-9/2001: Teaching and Research Assistant, UCLA

6/1998-10/1998: Research Associate, J. P. Morgan

9/1993-8/1997: Lecturer, Department of Mathematics, University of Chicago

9/1991-6/1993: Teaching Assistant, Department of Mathematics, University of Chicago

PUBLICATIONS

Prospect Theory, Mental Accounting and Momentum (with Mark Grinblatt). Journal of Financial Economics, 2005, Vol. 78, pp. 311-333.

Insider Ownership and Firm Performance: Evidence from Real Estate Investment Trusts. Journal of Real Estate Finance and Economics, 2006, Vol. 32, pp. 471-493.

Stochastic Volatilities and Correlations of Bond Yields. Journal of Finance, 2007, Vol. 62, pp. 1491-1524.

The U.S. Treasury Buyback Auctions: The Cost of Retiring Illiquid Bonds (with Craig Merrill and Francis Longstaff). Journal of Finance, 2007, Vol. 62, pp. 2673-2693.

Investor Sentiment and Option Prices. Review of Financial Studies, 2008, Vol. 21, pp. 387-414.

Promotion Tournaments and Capital Rationing (with David Hirshleifer and John Persons). Review of Financial Studies, 2009, Vol. 22, pp. 219-255.

Forecast Accuracy Uncertainty and Momentum (with Dong Hong and Mitch Warachka). Management Science, 2009, Vol. 55, pp. 1035-1046.

Thinking about Indexes, and“Passive” versus Active Management (with Russell J. Fuller and Yining Tung). Journal of Portfolio Management, Summer 2010, Vol 36, No. 4, pp. 35-47.

Fear of the Unknown: Familiarity and Economic Decisions (with H. Henry Cao, David Hirshleifer, and Harold Zhang). Review of Finance, 2011, Vol. 15 (1), pp. 173-206.

Investor Overconfidence and the Forward Discount Puzzle (with Craig Burnside, David Hirshleifer and Tracy Wang). Review of Economic Studies, 2011, Vol. 78 (2), pp. 523-558.

Taking the Road Less Travelled: Does Conversation Eradicate Pernicious Cascades? (with H. Henry Cao and David Hirshleifer). Journal of Economic Theory, 2011, Vol. 146 (4), pp. 1418-1436.

Estimating the Impact of Ex Post Mis-pricing in Various Sectors of Equity Markets (with Russell J. Fuller and Yining Tung). Journal of Investment Management, Third Quarter 2012.

Cross-section of Option Returns and Idiosyncratic Stock Volatility (with Jie 3 Cao). Journal of Financial Economics, 2013, Vol. 108, pp. 231-249

Speculative Retail Trading and Asset Prices (with Alok Kumar). Journal of Financial and Quantitative Analysis, 2013, Vol. 48 (2), pp. 377-404.

Social Networks, Information Acquisition, and Asset Prices (with Liyan Yang). Management Science, 2013, Vol. 59 (6), pp. 1444-1457.

WORKING PAPERS

Variance Risk Premium and Cross-section of Stock Returns (with Yi Zhou). Revise and resubmit at Review of Financial Studies.

Term Structure of Credit Default Swap Spreads and Cross-section of Stock Returns (with Yi Zhou). Revise and resubmit at Journal of Finance. SSRN Top Ten List.

How Useful are Structure Models of Credit Risk? New Evidence from the Term Structure of Credit Default Swap Spreads (with Yi Zhou). SSRN Top Ten List. Revise and resubmit at Journal of Empirical Finance.

Institutional Investment Constraints and Stock Prices (with Qinghai Wang).

Self-Enhancing Transmission Bias and Active Investing (with David Hirshleifer)

Investor Trading Behavior and Returns: Evidence from Taiwan Stock Index Options (with Yi-Tsung Lee and Jane Liu). SSRN Top Ten List.

Idiosyncratic Risk, Costly Arbitrage, and Cross-section of Stock Returns (with Jie Cao).

Institutional Investors and Equity Prices: Information, Price Impact and Arbitrage (with Dongmin Kong)

WORK IN PROGRESS

Visibility, Overconsumption, and Cultural Transmission Bias (with David Hirshleifer)

Hedge Fund Returns and Sentiment Risk (with Jing Pan and Yong Chen)

Option-implied Investor Disagreement and Stock Return (with Chin Han Chiang)

TEACHING

Theory of Finance (Ph.D)

Investment Theory and Practice (MBA)

Investment Management (Undergraduate)

SEMINAR PRESENTATIONexcluding coauthors’ presentations

“The Disposition Effect and Momentum,” Boston College, MIT, NYU, Ohio State University, Penn State University, UC Berkeley, UCLA, UC Irvine, University of North Carolina at Chapel-Hill, University of Texas at Austin, University of Washington at Seattle, University of Wisconsin at Madison, and Washington University at St. Louis.

“Stochastic Volatilities and Correlations of Bond Yields,” Ohio State University.

“Institutional Investment Constraints and Stock Prices,” Ohio State University, University of Texas at Austin, Hong Kong University of Science and Technology, Peking University

“Limits of Arbitrage, Sentiment and Index Option Smile,” Brigham Young University, UC Irvine, and Ohio State University

“Forecast Accuracy Uncertainty and Momentum,” University of Texas at Austin

“Fear of the Unknown: Familiarity and Economic Decisions,” University of Texas at Austin, Nanyang Technological University

“Retail Clienteles and the Idiosyncratic Volatility Puzzle,” University of Texas at Austin, University of Texas at Dallas, Peking University

“Overconfidence and the Forward Discount Puzzle,” Singapore Management University, University of California at Davis, Texas Tech

“Cross-section of Option Returns and Idiosyncratic Stock Volatility,” Chinese University of Hong Kong, Tsinghua University, University of Texas at Austin

“Term Structure of Credit Default Swap Spreads and Cross-section of Stock Returns,” University of Texas at Austin, University of Toronto, University of Hong Kong, Peking University, Texas A&M University, Chinese University of Hong Kong

“Variance Risk Premium and Cross-section of Stock Returns,” University of Texas at Austin, York University, Chinese University of Hong Kong, Hong Kong University of Science and Technology, Cheung Kong Graduate School of Business, Shanghai University of Finance and Economics, University of Hawaii at Manoa

“Social Network, Information Acquisition, and Asset Prices,” Cheung Kong Graduate School of Business, Peking University

“Self-Enhancing Transmission Bias and Active Investing,” University of Toronto, University of Hong Kong, Singapore Management University, Shanghai Advanced Institute of Finance, Central University of Finance and Economics, Chinese University of Hong Kong

CONFERENCE PRESENTATION and DISCUSSION(*) denotes presentation by coauthors

2002 Western Finance Association Meetings

National Bureau of Economic Research Conference, April 2002

2003 Western Finance Association Meetings

2003 American Finance Association Annual Meetings

2004 American Finance Association Annual Meetings

Behavioral Finance Conference at DePaul University, January 2004

2004 Western Finance Association Meetings

2005 American Finance Association Annual Meetings

2005 American Real Estate and Urban Economics Association Annual Meetings

Behavioral Finance Conference at DePaul University, January 2005

10th Mitsui Symposium on Institutional Investors, University of Michigan

2005 Western Finance Association Meetings

2005 Financial Management Association Meetings

2006 American Finance Association Annual Meetings

Behavioral Finance Conference at DePaul University, March 2006

NBER Behavioral Finance Meeting, April 2006

2006 Western Finance Association Meetings

2006 Real Estate Research Conference in Vail

2006 China International Conference in Finance (*)

2006 European Finance Association Meetings

17th Annual Conference on Financial Economics and Accounting

2007 China International Conference in Finance

2007 Financial Management Association Meetings

2008 American Finance Association Annual Meetings

Southwind Finance Conference, University of Kansas (*)

Tenth Annual Texas Finance Festival

2008 China International Conference in Finance

Second Singapore International Conference on Finance

2009 Western Finance Association Meetings (*)

2009 China International Conference in Finance

Fourth Annual Conference on Advances in the Analysis of Hedge Fund Strategies (*)

Second Shanghai Winter Finance Conference (*)

2010 American Finance Association Annual Meetings

Journal of Investment Management Conference on Behavioral Finance (*)

20th FDIC Annual Derivatives Securities and Risk Management Conference

Quantitative Methods in Business Applications Conference, Peking University

2010 Western Finance Association Meetings

2010 Annual Meeting of Society for Economic Dynamics (*)

6th International Conference on Asia-Pacific Financial Markets at Seoul (*)

2010 NTU International Conference in Taipei (*)

2011 American Finance Association Annual Meetings

21st FDIC Derivatives Securities and Risk Management Conference (*, 2 papers)

2011 Financial Intermediation Research Conference (*)

Risk Management Conference, University of Oklahoma (*)

18th Annual Conference of Multinational Finance Society

Third Behavioral Finance Workshop at Peking University, 2011

2011 China International Conference in Finance (2 papers)

2nd Annual International Symposium in Real Estate Markets, National University of Singapore, 2011

2011 European Finance Association Meetings (*)

Third Annual Meeting of the Academy of Behavioral Finance & Economics (*)

2011 Financial Management Association Meetings (*, 2 papers)

Second Annual Miami Behavioral Finance Conference

2012 American Finance Association Annual Meetings (3 papers)

5th Five Star Finance Forum, June 2012

2012 Symposium on China’s Financial Markets, Peking University

2012 China International Conference in Finance

9th Chinese Finance Association Annual Meeting (*)

6th Singapore International Conference on Finance

Third Annual Conference of the Summer Institute of Finance, 2012 (*)

2012 Optionmetrics Conference (*)

2012 HKUST Symposium on Investments/Asset Pricing

2013 American Finance Association Annual Meetings

2013 Midwest Finance Association Conference (*)

2nd Annual Fixed Income Conference, Charleston, South Carolina (*)

2013 China Finance Review International Conference

2013 China International Conference in Finance

2013 European Finance Association Meetings

2013 Northern Finance Association Meetings (*)

2013 BYU Red Rock Finance Conference (*)

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