刘悦
助理教授

金融大数据研究中心副主任

中国 北京（100083）

清华大学五道口金融学院

Email: liuyue@pbcsf.tsinghua.edu.cn

简历







教育背景

2008-2013 香港科技大学，金融学，博士学位

2006-2008 香港大学，经济及金融学，学士学位

2004-2006 清华大学，基础科学班（数学物理），转学


工作经历

2018至今 清华大学金融科技研究院金融大数据研究中心，副主任
2013至今 清华大学五道口金融学院，助理教授



主要研究领域

资产定价、国际金融市场、金融市场摩擦



讲授课程

高级资本市场理论、金融统计与计量学、金融数据分析：方法及应用


荣誉及奖项

研究

1. “Life is Too Short? Bereaved Managers and Investment Decisions” -- Emerald Best Paper Award, 2019
2. “Demand Shock, Speculative Beta, and Asset Prices: Evidence from the Shanghai-Hong Kong Stock Connect Program” -- CFA Asia Capital Markets Research Prize, 2016
3. “Demand Shock, Speculative Beta, and Asset Prices: Evidence from the Shanghai-Hong Kong Stock Connect Program” -- Chicago Quantitative Alliance (CQA) Asia Academic Competition Winner Paper, 2016
4. “Demand Shock, Speculative Beta, and Asset Prices: Evidence from the Shanghai-Hong Kong Stock Connect Program” -- 23rd SFM Best Paper Award, 2015
5. “Dual-Listed Shares and Trading” -- CFA Asia Capital Markets Research Prize, 2012



教学
Graduate Course Excellence Award,Tsinghua University, 2016




学术访问


W. P. Carey School of Business, Arizona State University Mar.-Apr. 2018, Jan. 2020


发表成果

期刊论文


1. “The Demand Effect of Yield-Chasing Retail Investors: Evidence from the Chinese Enterprise Bond Market”

with Shujing Wang, K.C. John Wei and Ninghua Zhong, Journal of Empirical Finance, 50, 57-77, 2019.
2. “What Drives Fluctuations in Exchange Rate Growth in Emerging Markets -- A Multi-Level Dynamic Factor Approach”

with Ben Wang, Huanhuan Wang and Ji Zhang, Economic Systems, 43(2), 2019.
3. “Is the Stock Market a Casino” with Peixin Li and Baolian Wang, Finance and Trade Economics, 68-79, 2014(3).

(in Chinese)
4. “Trading Imbalances and the Law of One Price” with M.S. Seasholes, Economics Letters, 112, 132-134, 2011.


工作论文


1. “Is the Chinese Anti-Corruption Campaign Authentic?” With John Griffin and Shu Tao (Revise and Resubmit at

Management Science)
2. “Demand Shock, Speculative Beta, and Asset Prices: Evidence from the Shanghai-Hong Kong Stock Connect

Program” with Shujing Wang and K.C. John Wei (Revise and Resubmit at Journal of Banking and Finance)

(23rd SFM Best Paper Award, Chicago Quantitative Alliance (CQA) Asia Academic Competition Winner Paper,

CFA Asia Capital Markets Research Prize)
3. “Investment, Idiosyncratic Risk, and Growth Options” With Shujing Wang (Revise and Resubmit at Journal

of Empirical Finance)

4. “Life is Too Short? Bereaved Managers and Investment Decisions” With Tao Shu, Johan Sulaeman, and

P. Eric Yeung (Emerald Best Paper Award)
5. “Do Demand Curves for Stocks Slope Down in the Long Run?” With Baolian Wang
6. “Information Production, Volume, and Return Dynamics” With Lei Mao and Mark S. Seasholes

7. “Dual-Listed Shares and Trading” with Mark S. Seasholes (CFA Asia Capital Markets Research Prize)
8. “The Margin-based Asset Pricing Model: Evidence from the Chinese Stock Market” with Shujing Wang and

K.C. John Wei
9. “Bank Loan Announcement Effects: Evidence from a Comprehensive 8-K Sample” with Shuyue Chen and

Steven Wei Ho
10. “Automating Technical Analysis with Artificial Intelligence” with Shuyue Chen and Shujing Wang



会议发言与研讨

2020 American Finance Association, Midwest Finance Association
2019 Finance Down Under Conference; FMA European Conference; FMA Asia/Pacific Conference;

China Finance Review International Conference; Tongji University School of Economics and Management;

Paris Financial Management Conference; Paris December Finance Meeting
2018 FMA Annual Meeting; 30th Asian Finance Association Annual Meeting; FMA Asia/Pacific Conference;

China Financial Research Conference; Arizona State University; Jinan University
2017 American Economic Association Annual Meeting; China Financial Research Conference;

Financial Intermediation Research Society Annual Conference; Summer Institute of Finance Annual Conference;

12th Conference on Asia-Pacific Financial Markets; SFS Cavalcade Asia-Pacific;

Shanghai University of Finance and Economics
2016 28th Asian Finance Association Annual Meeting; European Financial Management Association Annual Conference;

China International Conference in Finance; MIT Asia Conference in Accounting;

4th Paris Financial Management Conference; Shanghai Jiaotong University Antai College of Economics

and Management; Tsinghua School of Economic and Management
2015 China International Conference in Finance; Five Star Workshop in Finance;

23rd Conference on the Theories and Practices of Securities and Financial Markets
2013 Hong Kong University of Science and Technology; Tsinghua PBC School of Finance;

Queen’s University Belfast; Stockholm University
2012 Erasmus Liquidity Conference



学术期刊评审人


Management Science; Economica; Pacific-Basin Finance Journal; Asia-Pacific Journal of Financial Studies; China Economic Review; China Finance Review International; Journal of Corporate Finance; Journal of Empirical Finance; Journal of Banking and Finance