Yao Zeng

University of Pennsylvania - The Wharton School

3641 Locust Walk

Philadelphia, PA 19104-6365

United States

SCHOLARLY PAPERS

14

DOWNLOADS
Rank 7,878

SSRN RANKINGS

Top 7,878

in Total Papers Downloads

8,201

SSRN CITATIONS
Rank 7,251

SSRN RANKINGS

Top 7,251

in Total Papers Citations

95

CROSSREF CITATIONS

85

Scholarly Papers (14)

1.
Downloads 2,047 ( 10,780)
Citation 17

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 1,809 (12,878)
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 238 (179,516)

Abstract:

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

2.

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 1,612 (15,678)
Citation 17

Abstract:

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

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 1,185 (24,519)
Citation 9

Abstract:

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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: 31 Jul 2021
Purdue University - Department of Management, Harvard Business School - Finance Unit and University of Pennsylvania - The Wharton School
Downloads 34 (613,435)
Citation 1

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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 673 (54,485)
Citation 36

Abstract:

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Marketplace lending, screening, sophisticated investors, adverse selection

5.

FinTech Lending and Cashless Payments

Proceedings of Paris December 2021 Finance Meeting EUROFIDAI - ESSEC
Number of pages: 74 Posted: 12 Mar 2021 Last Revised: 11 Mar 2022
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 633 (59,267)
Citation 2

Abstract:

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FinTech, lending, payments, verifiability, data sharing, open banking.

6.

Steering a Ship in Illiquid Waters: Active Management of Passive Funds

Number of pages: 102 Posted: 28 Mar 2022 Last Revised: 05 May 2022
Columbia University - Columbia Business School, Columbia University - Columbia Business School, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 501 (79,596)

Abstract:

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Exchange-traded funds, ETFs, liquidity transformation, active management

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 394 (104,206)
Citation 39

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 70 (448,199)

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

8.

Bank Debt versus Mutual Fund Equity in Liquidity Provision

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 68 Posted: 05 Dec 2019 Last Revised: 21 Jun 2022
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 432 (94,155)
Citation 3

Abstract:

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Liquidity provision, mutual fund, bank, runs, swing pricing

9.

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

Number of pages: 44 Posted: 26 Feb 2018 Last Revised: 07 Sep 2021
Philip Bond and Yao Zeng
University of Washington - Michael G. Foster School of Business and University of Pennsylvania - The Wharton School
Downloads 204 (205,515)
Citation 5

Abstract:

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information disclosure, risk aversion, uncertainty, preferences

10.

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
UCL and University of Pennsylvania - The Wharton School
Downloads 186 (223,100)
Citation 12

Abstract:

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

11.

Coordination and Fragility in Liquidity Provision

Number of pages: 52 Posted: 05 Nov 2018 Last Revised: 12 Apr 2021
Ming Yang and Yao Zeng
UCL and University of Pennsylvania - The Wharton School
Downloads 122 (313,031)
Citation 2

Abstract:

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liquidity, dealer, multiple equilibria, non-fundamental fluctuations

12.

Steering a Ship in Illiquid Waters: Active Management of Passive Funds

NBER Working Paper No. w30039
Number of pages: 52 Posted: 16 May 2022 Last Revised: 21 May 2022
Columbia University - Columbia Business School, Columbia University - Columbia Business School, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 68 (449,392)

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13.

Steering a Ship in Illiquid Waters: Active Management of Passive Funds

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2022-65
Number of pages: 53 Posted: 18 May 2022
Columbia University - Columbia Business School, Columbia University - Columbia Business School, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 40 (566,729)

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14.

Steering a Ship in Illiquid Waters: Active Management of Passive Funds

CEPR Discussion Paper No. DP17283
Number of pages: 54 Posted: 31 May 2022
Columbia University - Columbia Business School, Columbia University - Columbia Business School, University of Chicago - Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 0 (891,729)
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Abstract:

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Active management, ETFs, Exchange-traded funds, liquidity transformation