Ke Shen

Ke Shen joined the Perella Department of Finance in 2017. His research focuses on asset management, institutional investors, and financial intermediation, with particular emphasis on exchange-traded funds (ETFs), mutual funds, and bond market investors. His work has been published in leading academic journals, including the Review of Financial Studies, Journal of Banking & Finance, Journal of Corporate Finance, and Journal of Real Estate Research.

Before joining academia, Dr. Shen gained industry experience at Goldman Sachs as a Collateral Analyst in MBS Fixed Income and at Bank of America as a Risk Analyst in the Home Loan and Equity division. He holds a Ph.D. in Finance from the University of Iowa, an M.S. in Statistics from Northern Illinois University, and a B.S. in Computer Science from Shanghai University.
 

Education

• Shanghai University, B.S.
• Northern Illinois University, M.S.
• University of Iowa, Ph.D.

Research Interests

• Mutual funds
• ETFs
• Institutional investors

• The Role of Taxes in the Rise of ETFs, with Rabih Moussawi and Raisa Velthuis, Forthcoming, Review of Financial Studies
• The Effect of Bond Ownership Structure on ESG Performance, 2024, with Hye Seung (Grace) Lee, Jesus M. Salas, and Ke Yang, Journal of Corporate Finance 89
• Macroeconomic Uncertainty and Predictability of Real Estate Returns: The Impact of Asset Liquidity, 2024, with Nandu Nayar and S. McKay Price, Journal of Real Estate Research 46:1, 82-113
• Redemption in Kind and Mutual Fund Liquidity Management, 2023, with Vikas Agarwal, Honglin Ren, and Haibei Zhao, Review of Financial Studies 36: 2274–2318
• Heterogeneous Turnover-Performance Relations, 2021, with Lin Tong and Tong Yao, Journal of Banking & Finance 124