Assistant Professor of Finance

　　School of Economics, Peking University

　　Scholar@PKU | Biography | Curriculum Vitae | SSRN Author Page 

　　Telephone: +86 10 6275 2920 

　　E-mail: gao@pku.edu.cn

　　

WORKING EXPERIENCE

　　Sept. 2019 – Present, Associate Professor, School of Economics, Peking University

　　Aug. 2016 – Aug. 2019, Assistant Professor, School of Economics, Peking University

　　July 2015 – July 2016, Visiting Postdoctoral Research Associate, Department of Economics and the Bendheim Center for Finance, Princeton University

　　July 2014 – Aug. 2016 Postdoctoral Fellow, Guanghua School of Management, Peking University

　　

RESEARCH FIELD

　　Family Finance; Behavioral Finance; Investment

　　

EDUCATION BACKGROUND

　　Sept. 2009 – July 2014, Ph.D. in Economics, Guanghua School of Management, Peking University

　　Sept. 2003 – July 2009, B.A. in Economics, Guanghua School of Management, Peking University

　　Sept. 2004 – July 2009 B.A. in Laws (Dual Degree), School of International Relations, Peking University

　　

TEACHING

　　Econometrics; Introduction to Financial Engineering

　　

PUBLICATIONS

　　1. “Do People Feel Less at Risk? Evidence from Disaster Experience,” with Yu-Jane Liu and Yushui Shi,  Journal of Financial Economics , Vol. 138, No. 3, Page 866–888, 2020.

　　2. “No Pain, No Gain? Household Beliefs and Stock Market Participation,”  Economics Letters  181, 81–84, 2019.

　　3. “Income and Social Communication: The Demographics of Stock Market Participation,” with Juanjuan Meng and Longkai Zhao,  World Economy , Vol. 42, No. 7, Page 2244–2277, 2019.

　　4. “Fat-Finger Trade and Market Quality: The First Evidence from China,” with Yu-Jane Liu and Weili Wu,  Journal of Futures Markets , Vol. 36, 1014–1025, 2016.

　　5. “Demographics, Family/Social Interaction, and Household Finance,” with Robert Fok,  Economics Letters , Vol. 136, Page 194–196, 2015.

　　6. “Out of Sight, Not Out of Mind: The Evidence from Taiwan Mutual Funds,” with Robert Fok, Jin-Ying Wang and Yu-Jane Liu,  International Review of Economics and Finance , Vol. 37, Page 138–156, 2015.

　　7. “Rebuilding Trust in Household Financial Participation: A Natural Experiment from China’s Rural Public Pension,” with Meitong Ai and Ruo Jia,  Economic Research Journal  (经济研究, the Top Chinese Journal in Economics), No. 8, Page 174–191, 2021.

　　8. “The Motivations of Paying Stock Dividends in China: Catering through Manipulation or Valuation Improvement,” with Conghui Hu and Jun Yu,  Accounting Research  (会计研究, the Top Chinese Journal in Accounting), No. 4, Page 50–57, 2019.

　　9. “Third-Party Payment Regulation: Objectives and Intuitional Arrangement,” with Junwei Zhou and Jianwei Dang,  Financial Regulation Research  (金融监管研究, in Chinese), Vol. 87, No. 3, Page 79–97, 2019.

　　10. “Financial Development and Income Disparity: Is the Dual System a Dominant Factor?” with Delong Li and Yushui Shi,  China Journal of Economics  (经济学报, in Chinese), Vol. 5, No. 3, Page 114–141, 2018.

　　11. “Price Delay, Speculative Demand and Stock Returns,” with Hu Conghui and Zhang Yong,  Management World  (管理世界, the Top Chinese Journal in Management), Vol. 1, Page 44–53, 2016.

　　12. “Cognitive Limitation and Lending Behavior,” with Wanchuan Lin and Dandan Yu,  Quarterly Journal of Finance  (金融系季刊, in Chinese), Vol. 8, No. 2, Page 113–135, 2014.

　　13. “Cross-Country Household Assets Allocation: An Unfinished Agenda,” with Liu Yu-Jane,  Economic Research Journal  (经济研究, the Top Chinese Journal in Economics), Vol. 2, Page 134–149, 2013.

　　14. “Noise and Financial Analysts’ Catering Incentives,” with Hu Conghui,  Quarterly Journal of Finance  (金融系季刊, in Chinese), Vol. 6, Page 102–118, 2011.

　　

RESEARCH GRANTS

　　1. National Natural Science Foundation of China Grant 72073004 (2021–2024): “Studies on Households’ Heterogeneous Risk Perceptions and Financial Decisions,” (Grant Amount: ¥480,000), Principal Investigator.

　　2. National Natural Science Foundation of China Grant 71703004 (2018–2020): “Studies on the Household Welfare Effects of Formal and Informal Finance,” (Grant Amount: ¥180,000), Principal Investigator.

　　3. National Natural Science Foundation of China Grant 71704025 (2018–2020): “The Impact of Patent-Collateralized Loans on SME’s Financing Constraints and Innovations under Policy Incentives,” (Grant Amount: ¥180,000), Member.

　　4. National Natural Science Foundation of China Grant 71673007 (2017–2020): “The Risk of Internet Lending Market and Investor Behavior,” (Grant Amount: ¥480,000), Member.

　　5. National Natural Science Foundation of China Grant 71172026 (2012–2015): “Fund Holding Behavior and Motivation,” (Grant Amount: ¥480,000), Member.

　　

HONORS AND AWARDS

    · Outstanding Teaching Award of Peking University, 2021

    · PwC 3535 Best Paper Award in Finance and Accounting, 2021

    · Outstanding Teaching Team of Peking University, 2020

    · Cao Fengqi Fund Outstanding Teaching Award in Finance, 2020

    · Contribution Award of the School of Economics at Peking University, 2019

    · Outstanding Class Adviser of School of Economics at Peking University, 2019

    · Outstanding Research in Humanities and Social Sciences of Peking University, Second Prize, 2017

    · Education Award of Peking University, 2014

    · Outstanding Graduating Ph.D. Student of Peking University, 2014

    · Best Paper Award, Academic Forum of Finance and Development in China, 2013

    · National Scholarship, China, 2013

    · Order of Commendation of Peking University, 2008

    · Peking University May Fourth Medal (the highest honor for PKU students), 2008

    · Student of the Year, China, 2007 Merit Student of Peking University, 2003, 2004, 2005