Professor Zhao’s research focuses primarily on asset management and investor behavior on the financial market.
Education
Shandong University, B.S.
Chinese Academy of Sciences, M.S.
Virginia Tech, M.A.
Georgia State University, Ph.D.
Research Interests
Asset management
Liquidity management
Performance evaluation
Investor behavior
Hedge Funds: The Good, the Bad, and the Lucky, 2017, with Yong Chen and Mike Cliff. Journal of Financial and Quantitative Analysis 52, 1081−1109.
Interfund Lending in Mutual Fund Families: Role in Liquidity Management, 2019, with Vikas Agarwal. Review of Financial Studies 32: 4079–4115.
Investor Protection and Capital Fragility: Evidence from Hedge Funds around the World, 2020, with George Aragon and Vikram Nanda. Review of Financial Studies 34: 1368–1407.
Redemptions in Kind and Mutual Fund Liquidity Management, 2022, with Vikas Agarwal, Honglin Ren and Ke Shen. Review of Financial Studies, forthcoming.
Working Papers
Violence and Investor Behavior: Evidence from a Natural Experiment, with Vikas Agarwal and Ghosh Pulak.
Too naïve to NAV? Performance display and capital misallocation, 2021, with Honglin Ren.
What are the Actual Effects of Liquidity Buffers? Evidence from the Mutual Fund Industry, with Vikas Agarwal.