Author Page for Hongjun Yan

1.

Equilibrium Asset Prices and Investor Behavior in the Presence of Money Illusion: A Preference-Based Formulation

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Citation 27

3

Equilibrium Asset Prices and Investor Behavior in the Presence of Money Illusion: A Preference-Based Formulation

EFA Meetings, WFA Meetings

Number of pages: 35 Posted: 29 Nov 2004 Last Revised: 15 Aug 2008

Suleyman Basak and Hongjun Yan

London Business School and DePaul University

Downloads 1,324 (20,989)

Citation 16

Abstract:

Equilibrium Asset Prices and Investor Behavior in the Presence of Money Illusion

Yale ICF Working Paper No. 08-23

Number of pages: 32 Posted: 08 Oct 2008 Last Revised: 05 Aug 2009

Suleyman Basak and Hongjun Yan

London Business School and DePaul University

Downloads 1,016 (30,962)

Abstract:

Equilibrium Asset Prices and Investor Behavior in the Presence of Money Illusion

CEPR Discussion Paper No. DP7398

Number of pages: 34 Posted: 08 Sep 2009

Suleyman Basak and Hongjun Yan

London Business School and DePaul University

Downloads 2 (912,033)

Citation 9

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2.

Reputation Concerns and Slow-Moving Capital

AFA 2011 Denver Meetings Paper, Yale ICF Working Paper No. 08-26

Number of pages: 41 Posted: 30 Oct 2008 Last Revised: 24 Mar 2021

Steven G. Malliaris and Hongjun Yan

University of Georgia - Department of Banking and Finance and DePaul University

Downloads 1,373 (20,203)

Citation 24

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3.

Uncertainty and Valuations

Yale ICF Working Paper No. 09-06

Number of pages: 41 Posted: 23 Mar 2009 Last Revised: 06 Sep 2012

Martijn Cremers and Hongjun Yan

University of Notre Dame and DePaul University

Downloads 1,226 (23,977)

Citation 4

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4.

A Three-Trillion-Dollar Question: Why Trade ETFs Instead of Their Underlying Assets?

Number of pages: 46 Posted: 16 Mar 2012 Last Revised: 29 Oct 2021

Wenxi Jiang, Yaqing Xiao and Hongjun Yan

CUHK Business School, The Chinese University of Hong Kong, Capital University of Economics and Business and DePaul University

Downloads 1,173 (25,558)

Citation 3

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5.

Natural Selection in Financial Markets: Does it Work?

Yale ICF Working Paper No. 08-01

Number of pages: 38 Posted: 15 Jan 2008

Hongjun Yan

DePaul University

Downloads 864 (39,490)

Citation 42

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6.

Heterogeneous Expectations and Bond Markets

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Citation 100

2

Heterogeneous Expectations and Bond Markets

Review of Financial Studies, Forthcoming, Yale ICF Working Paper No. 06-35

Number of pages: 40 Posted: 03 Jan 2007 Last Revised: 11 Nov 2010

Hongjun Yan and Wei Xiong

DePaul University and Princeton University - Department of Economics

Downloads 754 (46,779)

Citation 1

Abstract:

Heterogeneous Expectations and Bond Markets

NBER Working Paper No. w12781

Number of pages: 52 Posted: 23 Dec 2006 Last Revised: 05 Jun 2022

Hongjun Yan and Wei Xiong

DePaul University and Princeton University - Department of Economics

Downloads 48 (542,714)

Citation 29

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7.

Is Noise Trading Cancelled Out by Aggregation?

Yale ICF Working Paper No. 08-10, AFA 2009 San Francisco Meetings Paper

Number of pages: 38 Posted: 25 Mar 2008 Last Revised: 08 Feb 2010

Hongjun Yan

DePaul University

Downloads 677 (54,678)

Citation 3

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8.

Anomaly Discovery and Arbitrage Trading

Number of pages: 41 Posted: 02 May 2014 Last Revised: 28 Mar 2022

Xi Dong, Qi Liu, Lei Lu, Bo Sun and Hongjun Yan

City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance, Peking University - Department of Finance, Asper School of Business, University of Manitoba, Board of Governors of the Federal Reserve System and DePaul University

Downloads 657 (56,792)

Citation 4

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9.

Anticipated and Repeated Shocks in Liquid Markets

Number of pages: 38 Posted: 15 Aug 2010 Last Revised: 03 May 2013

Dong Lou, Hongjun Yan and Jinfan Zhang

London School of Economics & Political Science (LSE), DePaul University and Chinese University of Hong Kong (Shenzhen)

Downloads 624 (60,669)

Citation 21

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10.

Personality Differences and Investment Decision-Making

Number of pages: 52 Posted: 03 Jun 2020 Last Revised: 27 Jan 2022

Zhengyang Jiang, Cameron Peng and Hongjun Yan

Kellogg School of Management - Department of Finance, London School of Economics & Political Science (LSE) - Department of Finance and DePaul University

Downloads 619 (61,285)

Citation 1

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11.

The Behavior of Individual and Aggregate Stock Prices

Number of pages: 39 Posted: 12 Jan 2004

Hongjun Yan

DePaul University

Downloads 588 (65,430)

Citation 4

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12.

Disagreement Beta

Journal of Monetary Economics, Forthcoming

Number of pages: 42 Posted: 17 Jun 2016 Last Revised: 07 Oct 2018

George Gao, George Gao, Xiaomeng Lu, Zhaogang Song and Hongjun Yan

Cornell University - Samuel Curtis Johnson Graduate School of ManagementT. Rowe Price, Fudan University, Fanhai International School of Finance, Johns Hopkins University - Carey Business School and DePaul University

Downloads 565 (68,814)

Citation 3

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13.

Collateral-Motivated Financial Innovation

Number of pages: 50 Posted: 08 Mar 2012 Last Revised: 16 Aug 2014

Ji Shen, Hongjun Yan and Jinfan Zhang

London School of Economics & Political Science (LSE), DePaul University and Chinese University of Hong Kong (Shenzhen)

Downloads 448 (91,249)

Citation 5

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14.

What Does Stock Ownership Breadth Measure?

Downloads 447 ( 91,503)

Citation 10

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What Does Stock Ownership Breadth Measure?

Number of pages: 48 Posted: 18 Mar 2010 Last Revised: 04 Jul 2012

James J. Choi, Li Jin and Hongjun Yan

Yale School of Management, Harvard Business School - Finance Unit and DePaul University

Downloads 410 (100,293)

Abstract:

What Does Stock Ownership Breadth Measure?

NBER Working Paper No. w16591

Number of pages: 49 Posted: 13 Dec 2010 Last Revised: 02 May 2022

James J. Choi, Li Jin and Hongjun Yan

Yale School of Management, Harvard Business School - Finance Unit and DePaul University

Downloads 37 (601,134)

Citation 6

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15.

Funding Liquidity Shocks in a Quasi-Experiment: Evidence from the CDS Big Bang

Journal of Financial Economics (JFE), Forthcoming

Number of pages: 45 Posted: 12 Feb 2016 Last Revised: 11 May 2020

Xinjie Wang, Yangru Wu, Hongjun Yan and Zhaodong Zhong

Southern University of Science and Technology, Rutgers University, Newark - School of Business - Department of Finance & Economics, DePaul University and Rutgers, The State University of New Jersey - Rutgers Business School at Newark & New Brunswick

Downloads 426 (96,785)

Citation 3

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16.

Financial Intermediation Chains in an OTC Market

Management Science, Forthcoming

Number of pages: 49 Posted: 14 Mar 2015 Last Revised: 27 Apr 2020

Ji Shen, Bin Wei and Hongjun Yan

London School of Economics & Political Science (LSE), Federal Reserve Bank of Atlanta and DePaul University

Downloads 397 (104,939)

Citation 8

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17.

Informed Trading and Expected Returns

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2

Informed Trading and Expected Returns

Number of pages: 46 Posted: 17 Jan 2013 Last Revised: 25 Jan 2016

James J. Choi, Li Jin and Hongjun Yan

Yale School of Management, Peking University - Department of Finance and DePaul University

Downloads 323 (131,067)

Abstract:

Informed Trading and Expected Returns

NBER Working Paper No. w18680

Number of pages: 47 Posted: 05 Jan 2013 Last Revised: 16 Jan 2022

James J. Choi, Li Jin, Li Jin and Hongjun Yan

Yale School of Management, University of Oxford - Said Business School, Peking University - Department of Finance and DePaul University

Downloads 25 (682,295)

Abstract:

18.

Angry Borrowers: Negative Reciprocity in a Financial Market

PBCSF-NIFR Research Paper

Number of pages: 55 Posted: 09 Jul 2019 Last Revised: 06 Jul 2021

Li Liao, Zhengwei Wang, Hongjun Yan, Jun Yang and Congyi Zhou

Tsinghua University - PBC School of Finance, Tsinghua University - PBC School of Finance, DePaul University, Indiana University - Kelley School of Business - Department of Finance and Tsinghua University, PBC School of Finance, Students

Downloads 293 (145,915)

Citation 1

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19.

A Model of Anomaly Discovery

FRB International Finance Discussion Paper No. 1128

Number of pages: 52 Posted: 10 May 2015

Liu Qu, Lei Lu, Bo Sun and Hongjun Yan

Independent, Asper School of Business, University of Manitoba, Board of Governors of the Federal Reserve System and DePaul University

Downloads 272 (157,474)

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20.

Global and Local Information Efficiency: An Examination of Samuelson’s Dictum

Number of pages: 39 Posted: 13 Feb 2017 Last Revised: 13 May 2022

Yaqing Xiao, Hongjun Yan and Jinfan Zhang

Capital University of Economics and Business, DePaul University and Chinese University of Hong Kong (Shenzhen)

Downloads 260 (164,732)

Citation 1

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21.

A Global Version of Samuelson’s Dictum

forthcoming at the American Economic Review: Insights

Number of pages: 25 Posted: 23 Mar 2021 Last Revised: 29 Sep 2021

Yaqing Xiao, Hongjun Yan and Jinfan Zhang

Capital University of Economics and Business, DePaul University and Chinese University of Hong Kong (Shenzhen)

Downloads 186 (225,232)

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22.

A Search Model of the Aggregate Demand for Safe and Liquid Assets

Number of pages: 38 Posted: 26 Jan 2014 Last Revised: 11 May 2015

Ji Shen and Hongjun Yan

London School of Economics & Political Science (LSE) and DePaul University

Downloads 184 (227,343)

Citation 5

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23.

The Indirect Effects of Trading Restrictions

Number of pages: 47 Posted: 04 Mar 2019 Last Revised: 12 May 2022

Shujing Wang, Hongjun Yan, Ninghua Zhong and Yizhou Tang

Tongji University, DePaul University, Tong Ji University - School of Economics and Management and Tongji University

Downloads 126 (308,553)

Abstract:

24.

Financial Intermediation Chains in an OTC Market

FRB Atlanta Working Paper No. 2018-15

Number of pages: 66 Posted: 04 Feb 2019 Last Revised: 29 Apr 2020

Ji Shen, Bin Wei and Hongjun Yan

Peking University, Federal Reserve Bank of Atlanta and DePaul University

Downloads 101 (359,683)

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25.

In the Shadows of the Government: Relationship Building during Political Turnovers

Downloads 82 (362,044)

1

In the Shadows of the Government: Relationship Building during Political Turnovers

Number of pages: 51 Posted: 15 Dec 2018 Last Revised: 05 Oct 2020

Hanming Fang, Zhe Li, Nianhang Xu and Hongjun Yan

University of Pennsylvania - Department of Economics, Central University of Finance and Economics, Renmin University of China - School of Business and DePaul University

Downloads 82 (413,105)

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26.

Under-reaction in the Sovereign CDS Market

Journal of Banking and Finance, Accepted

Number of pages: 43 Posted: 14 May 2019 Last Revised: 24 May 2021

Xinjie Wang, Yaqing Xiao, Hongjun Yan and Jinfan Zhang

Southern University of Science and Technology, Capital University of Economics and Business, DePaul University and Chinese University of Hong Kong (Shenzhen)

Downloads 95 (373,887)

Citation 1

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27.

Response Order Biases in Economic Surveys

Number of pages: 38 Posted: 17 Feb 2021

Erik Davison, Yaqing Xiao and Hongjun Yan

Baylor University, Capital University of Economics and Business and DePaul University

Downloads 78 (420,947)

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28.

Biases in CDS Spreads after the CDS Big Bang

Journal of Fixed Income, Forthcoming

Posted: 05 Feb 2020 Last Revised: 27 Feb 2020

Xinjie Wang, Hongjun Yan and Zhaodong Zhong

Southern University of Science and Technology, DePaul University and Rutgers, The State University of New Jersey - Rutgers Business School at Newark & New Brunswick

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29.

User Interface and First-hand Experience in Retail Investing

Kelley School of Business Research Paper No. 18-54, The Review of Financial Studies, 34 (2021): 4486–4523

Posted: 20 Jun 2018

Li Liao, Zhengwei Wang, Jia Xiang, Hongjun Yan and Jun Yang

Tsinghua University - PBC School of Finance, Tsinghua University - PBC School of Finance, Tsinghua University - PBC School of Finance, DePaul University and Indiana University - Kelley School of Business - Department of Finance

Downloads 514

Hongjun Yan

DePaul University

Richard H. Driehaus Chair in Behavioral Finance

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Scholarly Papers (29)

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Equilibrium Asset Prices and Investor Behavior in the Presence of Money Illusion

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