Hengjie Ai

University of Minnesota - Twin Cities - Carlson School of Management

19th Avenue South

Minneapolis, MN 55455

United States

University of Minnesota - Carlson School of Management

Assistant Professor

321 19th Avenue South

Minneapolis, MN 55455

United States

SCHOLARLY PAPERS

16

DOWNLOADS
Rank 16,077

SSRN RANKINGS

Top 16,077

in Total Papers Downloads

3,938

SSRN CITATIONS
Rank 4,644

SSRN RANKINGS

Top 4,644

in Total Papers Citations

179

CROSSREF CITATIONS

117

Scholarly Papers (16)

1.

Toward a Quantitative General Equilibrium Asset Pricing Model with Intangible Capital

Review of Financial Studies 26 (2): 491-530, 2013, DOI: doi.org/10.1093/rfs/hhs121
Number of pages: 61 Posted: 15 Mar 2010 Last Revised: 10 Mar 2017
Hengjie Ai, Hengjie Ai, Mariano (Max) Massimiliano Croce and Kai Li
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, Finance Department, Bocconi University and Peking University HSBC Business School
Downloads 1,076 (25,646)
Citation 29

Abstract:

Loading...

Asset Pricing, General Equilibrium, Intangible Capital, Value Premium

News Shocks and the Production-Based Term Structure of Equity Returns

Number of pages: 67 Posted: 18 Nov 2012 Last Revised: 05 Sep 2017
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, Finance Department, Bocconi University, Board of Governors of the Federal Reserve System and Peking University HSBC Business School
Downloads 762 (40,968)
Citation 9

Abstract:

Loading...

News Shocks, Learning, Term Structure of Equity, Duration

Production-Based Term Structure of Equity Returns

UNC Kenan-Flagler Research Paper No. 2336099
Number of pages: 42 Posted: 09 Oct 2013
Finance Department, Bocconi University, University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, Board of Governors of the Federal Reserve System and Peking University HSBC Business School
Downloads 90 (355,351)
Citation 1

Abstract:

Loading...

Term Structure, Duration, Value Premium

News Shocks and the Production-Based Term Structure of Equity Returns

CEPR Discussion Paper No. DP12661
Number of pages: 70 Posted: 05 Feb 2018
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, Finance Department, Bocconi University, Board of Governors of the Federal Reserve System and Peking University HSBC Business School
Downloads 0
Citation 11
  • Add to Cart

Abstract:

Loading...

3.

The Trade-off Theory of Corporate Capital Structure

Oxford Research Encyclopedia of Economics and Finance
Number of pages: 65 Posted: 11 Jun 2020 Last Revised: 13 Jul 2021
Hengjie Ai, Hengjie Ai, Murray Z. Frank and Ali Sanati
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, University of Minnesota and American University
Downloads 586 (58,688)
Citation 4

Abstract:

Loading...

4.

The Cross Section of Monetary Policy Announcement Premium

Journal of Financial Economics (forthcoming)
Number of pages: 88 Posted: 01 Mar 2019 Last Revised: 15 Mar 2021
Hengjie Ai, Hengjie Ai, Leyla Jianyu Han, Xuhui (Nick) Pan and Lai Xu
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, Boston University - Questrom School of Business, University of Oklahoma and Syracuse University
Downloads 384 (97,791)
Citation 6

Abstract:

Loading...

FOMC Announcement, Implied Variance, Cross Section, Equity Returns

5.
Downloads 211 (181,936)
Citation 3

Moral Hazard, Investment, and Firm Dynamics

AFA 2013 San Diego Meetings Paper
Number of pages: 54 Posted: 12 Mar 2012 Last Revised: 06 Aug 2014
Hengjie Ai, Hengjie Ai, Rui Li and Rui Li
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management and University of Wisconsin - MadisonPurdue University - Department of Economics
Downloads 149 (246,816)
Citation 4

Abstract:

Loading...

Moral Hazard, Dynamic Contracting, General Equilibrium, Firm Dynamics

Moral Hazard, Investment, and Firm Dynamics

Number of pages: 61 Posted: 03 Oct 2011
Hengjie Ai, Hengjie Ai, Rui Li and Rui Li
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management and University of Wisconsin - MadisonPurdue University - Department of Economics
Downloads 62 (440,459)
Citation 1

Abstract:

Loading...

Dynamic Mechnism Design, General Equilibrium, Investment, Payout Policy, Power law

6.

Growth to Value: Option Exercise and the Cross-Section of Equity Returns

Number of pages: 59 Posted: 16 Feb 2009 Last Revised: 08 Dec 2011
Hengjie Ai, Hengjie Ai and Dana Kiku
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management and University of Illinois at Urbana-Champaign
Downloads 162 (229,643)
Citation 34

Abstract:

Loading...

Value Premium, Cross Section, Long-Run Risk, Real Options

7.

The Collateralizability Premium

SAFE Working Paper No. 264 (2019)
Number of pages: 88 Posted: 25 Oct 2019
Hengjie Ai, Hengjie Ai, Jun E. Li, Kai Li and Christian Schlag
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF), Peking University HSBC Business School and Goethe University Frankfurt
Downloads 157 (235,913)
Citation 5

Abstract:

Loading...

Cross-Section of Returns, Financial Frictions, Collateral Constraint

8.

A Quantitative Model of Dynamic Moral Hazard

Number of pages: 40 Posted: 27 Jun 2016 Last Revised: 29 Jun 2020
Hengjie Ai, Hengjie Ai, Dana Kiku, Rui Li and Rui Li
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, University of Illinois at Urbana-Champaign and University of Wisconsin - MadisonPurdue University - Department of Economics
Downloads 144 (253,086)
Citation 3

Abstract:

Loading...

Structural Estimation, Dynamic Moral Hazard, CEO Compensation, General Equilibrium, Firm Dynamics

9.
Downloads 95 (340,579)
Citation 46

Risk Preferences and the Macro Announcement Premium

Number of pages: 61 Posted: 27 Sep 2016
Hengjie Ai, Hengjie Ai and Ravi Bansal
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management and Duke University and NBER
Downloads 55 (467,264)

Abstract:

Loading...

Risk Preferences and the Macro Announcement Premium

NBER Working Paper No. w22527
Number of pages: 62 Posted: 22 Aug 2016 Last Revised: 22 Jul 2021
Hengjie Ai, Hengjie Ai and Ravi Bansal
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management and Duke University and NBER
Downloads 40 (535,152)
Citation 33

Abstract:

Loading...

10.

Investment and CEO Compensation Under Limited Commitment

Number of pages: 62 Posted: 01 Nov 2013
Hengjie Ai, Hengjie Ai, Rui Li and Rui Li
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management and University of Wisconsin - MadisonPurdue University - Department of Economics
Downloads 86 (362,397)
Citation 18

Abstract:

Loading...

Dynamic Contracting, Limited Commitment, Investment, Q-Theory

11.

A Mechanism Design Model of Firm Dynamics: The Case of Limited Commitment

Number of pages: 61 Posted: 01 Nov 2013
Hengjie Ai, Hengjie Ai, Dana Kiku, Rui Li and Rui Li
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, University of Illinois at Urbana-Champaign and University of Wisconsin - MadisonPurdue University - Department of Economics
Downloads 80 (378,513)
Citation 15

Abstract:

Loading...

Mechanism Design, Limited Commitment, Firm Dynamics

12.

Capital Misallocation and Risk Sharing

Number of pages: 33 Posted: 11 Mar 2020 Last Revised: 25 Oct 2021
Hengjie Ai, Hengjie Ai, Anmol Bhandari, Yuchen Chen and Chao Ying
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, University of Minnesota - Minneapolis - Department of Economics, University of Minnesota - Twin Cities, Carlson School of Management and Chinese University of Hong Kong
Downloads 59 (448,777)
Citation 2

Abstract:

Loading...

13.

Volatility Risks and Growth Options

Finance Down Under 2014 Building on the Best from the Cellars of Finance
Number of pages: 56 Posted: 01 Nov 2013
Hengjie Ai, Hengjie Ai and Dana Kiku
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management and University of Illinois at Urbana-Champaign
Downloads 28 (588,785)
Citation 7

Abstract:

Loading...

14.

Asset Pricing with Endogenously Uninsurable Tail Risk

NBER Working Paper No. w24972
Number of pages: 93 Posted: 17 Sep 2018 Last Revised: 26 Sep 2021
Hengjie Ai, Hengjie Ai and Anmol Bhandari
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management and University of Minnesota - Minneapolis - Department of Economics
Downloads 18 (657,053)

Abstract:

Loading...

15.

A Model of the Macroeconomic Announcement Premium with Production

Posted: 28 Nov 2018
Hengjie Ai, Hengjie Ai, Ravi Bansal, Jay Im and Chao Ying
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, Duke University and NBER, Government of the United States of America - Office of the Comptroller of the Currency (OCC) and Chinese University of Hong Kong

Abstract:

Loading...

announcement premium, generalized risk sensitivity, production

16.

Financial Intermediation and Capital Reallocation

Posted: 02 Dec 2016
Hengjie Ai, Hengjie Ai, Kai Li and Fang Yang
University of Minnesota - Carlson School of ManagementUniversity of Minnesota - Twin Cities - Carlson School of Management, Peking University HSBC Business School and Louisiana State University, Baton Rouge

Abstract:

Loading...

financial Intermediation, Capital Misallocation, Volatility, Crisis, Limited enforcement