Publications

Economic Links from Bonds and Cross-Stock Return Predictability (with Xiaolin Huo, Xin Liu, Yifei Mao, and Hong Xiang). Journal of Financial Economics, 2025.

No More Free Lunch: The Increasing Popularity of Machine Learning and Financial Market Efficiency (with Xin Liu). Economic and Political Studies, 2024.

Time-consistent Proportional Reinsurance and Investment Strategies under Ambiguous Environment (with Guohui Guan, and Zongxia Liang). Insurance: Mathematics and Economics, 2018.

Lin He, Jian Feng, and Shuhua Zhang. Application of the Counter-cyclical Strategy in Portfolio Insurance Based on Mean-reverting Property. Insurance Studies, 2017.

Application of the Counter-cyclical Strategy in Portfolio Insurance Based on Mean-reverting Property (with Lin He, and Shuhua Zhang). Insurance Studies, 2017.

Working Papers

Link-Firm Characteristics Are Covariances: An IPCA Approach to Economic Linkages

Hiding in Plain Sight: Decoding the Alpha behind Monthly Industry-Level Inflation News (with Shiyang Huang, Charles M. C. Lee, and Yang Song)

Conditional Asset Pricing with Text-Managed Portfolios (with Jiantao Huang, Shiyang Huang, and Ran Shi)

Endogenous Formation of Guaranteed Loan Networks (with Shiyang Huang, Xinhai Liu, Dong Lou, and Kathy Yuan)