Yao Zeng

University of Pennsylvania - The Wharton School

3641 Locust Walk

Philadelphia, PA 19104-6365

United States

SCHOLARLY PAPERS

11

DOWNLOADS
Rank 11,005

SSRN RANKINGS

Top 11,005

in Total Papers Downloads

5,250

SSRN CITATIONS
Rank 8,169

SSRN RANKINGS

Top 8,169

in Total Papers Citations

81

CROSSREF CITATIONS

76

Scholarly Papers (11)

1.
Downloads 1,626 ( 12,881)
Citation 14

ETF Arbitrage Under Liquidity Mismatch

Fourth Annual Conference on Financial Market Regulation, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 57 Posted: 08 Jan 2017 Last Revised: 19 Feb 2021
Kevin Pan and Yao Zeng
Harvard University, Department of Economics, Students and University of Pennsylvania - The Wharton School
Downloads 1,544 (13,697)
Citation 20

Abstract:

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ETF, authorized participant, arbitrage, corporate bond, liquidity, balance sheet space constraints

ETF Arbitrage Under Liquidity Mismatch

ESRB: Working Paper Series No. 2017/59
Number of pages: 74 Posted: 05 Nov 2020
Kevin Pan and Yao Zeng
Harvard University, Department of Economics, Students and University of Pennsylvania - The Wharton School
Downloads 82 (360,372)

Abstract:

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arbitrage, authorized participants, corporate bond, exchange-traded funds, liquidity mismatch

Mutual Funds As Venture Capitalists? Evidence from Unicorns

European Corporate Governance Institute – Finance Working Paper No. 675/2020
Number of pages: 94 Posted: 11 Jan 2017 Last Revised: 28 Apr 2020
Purdue University - Department of Management, Harvard Business School - Finance Unit and University of Pennsylvania - The Wharton School
Downloads 1,077 (23,790)
Citation 7

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Private places, private equity, governance

Mutual Funds as Venture Capitalists? Evidence from Unicorns

NBER Working Paper No. w23981
Number of pages: 51 Posted: 30 Oct 2017 Last Revised: 23 Apr 2021
Purdue University - Department of Management, Harvard Business School - Finance Unit and University of Pennsylvania - The Wharton School
Downloads 26 (592,677)

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3.

Mutual Fund Liquidity Transformation and Reverse Flight to Liquidity

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper, 2020
Number of pages: 66 Posted: 02 Jul 2020 Last Revised: 01 Apr 2021
Yiming Ma, Kairong Xiao and Yao Zeng
Columbia University - Columbia Business School, Columbia University - Columbia Business School and University of Pennsylvania - The Wharton School
Downloads 777 (38,404)
Citation 12

Abstract:

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Mutual fund, liquidity transformation, flight-to-liquidity, COVID-19

4.

Marketplace Lending: A New Banking Paradigm?

Paris December 2018 Finance Meeting EUROFIDAI - AFFI
Number of pages: 53 Posted: 04 Feb 2018 Last Revised: 24 Jan 2019
Boris Vallee and Yao Zeng
Harvard Business School - Finance Unit and University of Pennsylvania - The Wharton School
Downloads 524 (64,056)
Citation 32

Abstract:

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Marketplace lending, screening, sophisticated investors, adverse selection

A Dynamic Theory of Mutual Fund Runs and Liquidity Management

Number of pages: 75 Posted: 31 Jan 2017 Last Revised: 25 Mar 2017
Yao Zeng
University of Pennsylvania - The Wharton School
Downloads 303 (120,266)
Citation 38

Abstract:

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open-end mutual fund, illiquid assets, shareholder runs, cash rebuilding, flexible NAV

A Dynamic Theory of Mutual Fund Runs and Liquidity Management

ESRB: Working Paper Series No. 2017/42
Number of pages: 77 Posted: 05 Nov 2020
Yao Zeng
University of Pennsylvania - The Wharton School
Downloads 16 (666,214)

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cash rebuilding, flexible NAV, illiquid assets, open-end mutual fund, shareholder runs

6.

Bank Debt versus Mutual Fund Equity in Liquidity Provision

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 70 Posted: 05 Dec 2019 Last Revised: 19 Feb 2021
Yiming Ma, Kairong Xiao and Yao Zeng
Columbia University - Columbia Business School, Columbia University - Columbia Business School and University of Pennsylvania - The Wharton School
Downloads 269 (137,043)
Citation 3

Abstract:

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Liquidity provision, mutual fund, bank

7.

Financing Entrepreneurial Production: Security Design with Flexible Information Acquisition

Number of pages: 59 Posted: 28 Dec 2012 Last Revised: 26 Dec 2017
Ming Yang and Yao Zeng
Duke University - Finance and University of Pennsylvania - The Wharton School
Downloads 182 (198,552)
Citation 9

Abstract:

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security design, debt, combination of debt and equity, flexible information acquisition

8.

Silence is Safest: Non-Disclosure When the Audience's Preferences are Uncertain

Number of pages: 49 Posted: 26 Feb 2018 Last Revised: 18 Jul 2019
Philip Bond and Yao Zeng
University of Washington - Michael G. Foster School of Business and University of Pennsylvania - The Wharton School
Downloads 143 (243,158)
Citation 4

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information disclosure, risk aversion, uncertainty, preferences

9.

The Paradox of ETFs: Liquidity Transformation versus Index-Tracking

Number of pages: 44 Posted: 03 Mar 2021 Last Revised: 09 Apr 2021
Naz Koont, Yiming Ma and Yao Zeng
Columbia University - Columbia Business School, Columbia University - Columbia Business School and University of Pennsylvania - The Wharton School
Downloads 132 (259,006)

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ETFs, COVID-19, Liquidity Transformation, Tracking Error, Balance Sheet Costs

10.

Coordination and Fragility in Liquidity Provision

Number of pages: 52 Posted: 05 Nov 2018 Last Revised: 12 Apr 2021
Ming Yang and Yao Zeng
Duke University - Finance and University of Pennsylvania - The Wharton School
Downloads 95 (326,049)
Citation 2

Abstract:

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liquidity, dealer, multiple equilibria, non-fundamental fluctuations

11.

FinTech Lending and Cashless Payments

Number of pages: 43 Posted: 12 Mar 2021
Pulak Ghosh, Boris Vallee and Yao Zeng
Indian Institute of Management (IIMB), Bangalore, Harvard Business School - Finance Unit and University of Pennsylvania - The Wharton School
Downloads 80 (362,218)

Abstract:

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FinTech, lending, payments, data sharing