余剑峰
建树欧洲杯外围竞猜_欧洲杯盘口-投注|官网学讲席教授 清华大学欧洲杯外围竞猜_欧洲杯盘口-投注|官网科技研究院副院长 清华大学五道口欧洲杯外围竞猜_欧洲杯盘口-投注|官网学院资产管理研究中心主任 中国 北京（100083） 清华大学五道口欧洲杯外围竞猜_欧洲杯盘口-投注|官网学院 Email: yujf@pbcsf.tsinghua.edu.cn Web: https://sites.google.com/site/yujianfengaca 教师秘书：8610- 62706058 传真：8610- 62789548
个人简介
余剑峰教授目前是清华大学五道口欧洲杯外围竞猜_欧洲杯盘口-投注|官网学院建树欧洲杯外围竞猜_欧洲杯盘口-投注|官网学讲席教授、清华大学欧洲杯外围竞猜_欧洲杯盘口-投注|官网科技研究院副院长、清华大学五道口欧洲杯外围竞猜_欧洲杯盘口-投注|官网学院资产管理研究中心主任，加入五道口之前他是明尼苏达大学卡尔森管理学院 Piper Jaffray 讲席教授。他在2014-2015年是清华大学五道口欧洲杯外围竞猜_欧洲杯盘口-投注|官网学院的访问教授。他从2011年起是美国联邦储蓄银行（达拉斯）的研究员。他主要从事行为欧洲杯外围竞猜_欧洲杯盘口-投注|官网和宏观欧洲杯外围竞猜_欧洲杯盘口-投注|官网的理论和实证研究。他的研究成果已经发表在学术刊物，例如，美国经济评论，欧洲杯外围竞猜_欧洲杯盘口-投注|官网期刊、欧洲杯外围竞猜_欧洲杯盘口-投注|官网经济期刊、货币经济期刊、管理科学和动态经济评论。余教授获得中国科技大学概率统计学学士，耶鲁大学统计学硕士和宾夕法尼亚大学沃顿商学院的欧洲杯外围竞猜_欧洲杯盘口-投注|官网学博士。他的研究成果曾获得多项奖项，其中包括 Smith-Breeden 一等奖。
教育背景
2003-2008 宾夕法尼亚大学，沃顿商学院，欧洲杯外围竞猜_欧洲杯盘口-投注|官网学，博士学位
2000-2003 耶鲁大学，统计学，2001 年获得硕士学位， 2003 年博士论文开题通过
1996-2000 中国科技大学，概率与统计学，学士学位
工作经历
2016 至今 清华大学五道口欧洲杯外围竞猜_欧洲杯盘口-投注|官网学院，建树讲席教授
2021 至今 清华大学五道口欧洲杯外围竞猜_欧洲杯盘口-投注|官网学院全球母基金研究中心主任
2019 至今 清华大学欧洲杯外围竞猜_欧洲杯盘口-投注|官网科技研究院副院长
2017 至今 清华大学五道口欧洲杯外围竞猜_欧洲杯盘口-投注|官网学院资产管理研究中心主任
2015-2016 香港中文大学（深圳），经管学院，欧洲杯外围竞猜_欧洲杯盘口-投注|官网学教授，执行副院长
2008-2017 明尼苏达大学，卡尔森管理学院，欧洲杯外围竞猜_欧洲杯盘口-投注|官网学，助理教授, 副教授(终身教授),
正教授，Piper Jaffray 讲席教授
其他职位
2011.10 至今 美国联邦储蓄银行，研究员
主要研究领域
行为欧洲杯外围竞猜_欧洲杯盘口-投注|官网学，量化投资策略，市场摩擦中的资产定价，国际市场，基于经济周期模型的资产定价
发表成果
1. Investor Sentiment and the Mean-Variance Relation, (with Yu Yuan), Journal of Financial Economics 100, May 2011, pp. 367-281
2. Investor Attention, Psychological Anchors, and Stock Return Predictability (with Jun Li), Journal of Financial Economics 104, May 2012, pp. 401-419
3. The Short of It: Investor Sentiment and Anomalies (with Rob Stambaugh, and Yu Yuan), Journal of Financial Economics 104, May 2012, pp. 288-302
· Inaugural AQR Insight Award, honorable mention, 2012
· RWC Marshall Blume Prize, honorable mention, 2011
4. Using Long-Run Consumption-Return Correlations to Test Asset Pricing Models, Review of Economic Dynamics 15, July 2012, pp. 317-335
5. Technological Growth and Asset Pricing, (with Nicolae Garleanu and Stavros Panageas), Journal of Finance 67, August 2012, pp. 1265-1292
· Smith-Breeden Prize (First Prize), 2012
6. Government Investment and the Stock Market (with Frederico Belo), Journal of Monetary Economics 60, April 2013, pp. 325-339
7. A Sentiment-based Explanation of the Forward Premium Puzzle, Journal of Monetary Economics 60, May 2013, pp.474-491
8. Uncertainty, Risk, and Incentives: Theory and Evidence, (with Zhiguo He, Si Li and Bin Wei), Management Science 60, January 2014, pp. 206-226
· 3rd Annual TCFA Best Paper Award, 2012
9. The Long of It: Odds That Investor Sentiment Spuriously Predicts Anomaly Returns, (with Rob Stambaugh and Yu Yuan), February 2014, Journal of Financial Economics 114, December 2014, pp. 613-619
10. Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion (with Nicolae Garleanu and Stavros Panageas), July 2015, American Economic Review 105, pp. 1979-2010
11. Arbitrage Asymmetry and the Idiosyncratic Volatility Puzzle (with Rob Stambaugh and Yu Yuan), October 2015, Journal of Finance 70, pp. 1903-1948
12. Asset Pricing in Production Economies with Extrapolative Expectations (with David Hirshleifer and Jun Li), November 2015, Journal of Monetary Economics 76, pp. 87-106
13. Short- and Long-Run Business Conditions and Expected Returns (with Qi Liu, Libin Tao and Weixing
Wu), December 2017, Management Science 63, pp. 4137-4157.
14. Reference-Dependent Preferences and the Risk-Return Trade-off (with Huijun Wang and Jinghua Yan), February 2017, Journal of Financial Economics 123, pp.395-414
· Q-Group Research Award, 2012
· Chicago Quantitative Alliance Academic Competition, Third Prize, 2014
15. Optimal Long-Term Contracting with Learning, (with Zhiguo He, Bin Wei, and Feng Gao), October 2017, Review of Financial Studies 30, pp. 2006-2065
16. Investor Sentiment and Economic Forces (with Junyan Shen and Shen Zhao), April 2017, Journal of Monetary Economics 86, pp.1-21, Lead Article
· Chicago Quantitative Alliance Academic Competition, First Prize, 2012
· Crowell Memorial Prize (Third Prize), PanAgora Asset Management, 2013
· TCFA Best Paper Award, 2013
17. The Role of Reference-Dependent Preferences (with Li An, Huijun Wang, and Jian Wang), 2020, Management Science, 66, pp. 473-501
a. CQAsia Academic Competition, First Prize, 2016
18. Impediments to Financial Trade: Theory and Applications (with Nicolae Garleanu and Stavros Panageas),2020, Review of Financial Studies, 33, pp. 2697-2727
19. Time‐Varying Demand for Lottery: Speculation Ahead of Earning Announcements (with Bibo Liu, Huijun Wang and Shen Zhao), 2020, Journal of Financial Economics, 138, pp. 789-817
20. Aggregate Expected Investment Growth and Stock Market Returns (joint with Jun Li and Huijun Wang), 2021, Journal of Monetary Economics, 117, pp. 618-638
21. Media Coverage and Underreaction-Related Anomalies (with Xin Chen, Wei He, and Libin Tao), Management Science, Forthcoming
22. Attention Spillover in Asset Pricing (with Xin Chen, Li An, and Zhengwei Wang), Journal of Finance, Forthcoming
工作论文
1. Drifting Apart: The Pricing of Assets when the Benefits of Growth are not Shared Equally (with Nicolae Garleanu, Stavros Panageas, and Dimitris Papanikolaou), August 2015
2. Characteristics‐Based Factors (with Zhuo Chen, Bibo Liu, Huijun Wang, Zhengwei Wang), January 2020
3. Investor Sentiment and the Pricing of Characteristics‐Based Factors (with Zhuo Chen, Bibo Liu, Huijun Wang and Zhengwei Wang), February 2020
4 Priming and Stock Preferences: Evidence from IPO Lotteries (with Conghui Hu, Yu‐Jane Liu, and Xin Xu), December 2019
5. Time Variation in Extrapolation and Anomalies (with Wei He and Yuehan Wang), April 2020
6. Similar Stocks (with Wei He and Yuehan Wang), March 2021
7. Extrapolative Market Participation (with Wanbin Pan, Zhiwei Su, and Huijun Wang), April 2021
· XiYue Best Paper Award, CICF, 2022
8. Extrapolation and Risk-Return Trade-offs (with Qi Liu, Zhiwei Su, and Huijun Wang), April 2022
· GARP Research Excellence Award, CIRF, 2022
9. Macroeconomic Perceptions and Anomalies (with Wei He and Zhiwei Su), June 2022
清华大学五道口欧洲杯外围竞猜_欧洲杯盘口-投注|官网学院, 指导教师
· 行为欧洲杯外围竞猜_欧洲杯盘口-投注|官网学(欧洲杯外围竞猜_欧洲杯盘口-投注|官网PhD), 2018~
· 行为欧洲杯外围竞猜_欧洲杯盘口-投注|官网学(欧洲杯外围竞猜_欧洲杯盘口-投注|官网EMBA, GFD, 和各种高管教育项目), 2016~
· 行为欧洲杯外围竞猜_欧洲杯盘口-投注|官网学(欧洲杯外围竞猜_欧洲杯盘口-投注|官网硕士), 2014, 2018~
· 数据分析与创业抉择I (欧洲杯外围竞猜_欧洲杯盘口-投注|官网MBA), 2018-2020
· 数据分析与创业抉择II (欧洲杯外围竞猜_欧洲杯盘口-投注|官网MBA), 2017~
明尼苏达大学,卡尔森管理学院，指导教师
· 行为欧洲杯外围竞猜_欧洲杯盘口-投注|官网学(本科和MBA), 2014, 2015
· 公司财务中的期权(本科), 2010 – 2013
· 企业欧洲杯外围竞猜_欧洲杯盘口-投注|官网决策(本科), 2009
· 资本市场理论(博士), 2010 – 2013
· 实证资产定价(博士), 2012
宾夕法尼亚大学,沃顿商学院，助教
· 欧洲杯外围竞猜_欧洲杯盘口-投注|官网学实证研究(博士), 2006 – 2008
· 货币经济学与全球经济(MBA) 2006 – 2007
· 固定收益证券(MBA), 2004
· 基金投资(MBA), 2005 – 2006
· 投资与交易(MBA), 2005
荣誉与奖项
XiYue Best Paper Award, China International Conference in Finance, 2022
GARP Research Excellence Award, CIRF, 2022
Keynote Address: The Fifth International Workshop on Futures and Derivatives, 2016
CQAsia Academic Competition, First Prize, 2016
Keynote Address: The 7th International Workshop on Behavioral Operations Management,
Chicago Quantitative Alliance (CQA) Academic Competition, Third Prize, 2014
4th Annual TCFA Best Paper Award, 2013
Crowell Memorial Prize (Third Prize), PanAgora Asset Management, 2013
Annual Faculty Research Award, Carlson School of Management, 2012 & 2014
Smith‐Breeden Prize (First Prize), 2012
Institute for Quantitative Research in Finance (Q‐Group) Research Award, 2012
Chicago Quantitative Alliance (CQA) Academic Competition, First Prize, 2012
3rd Annual TCFA Best Paper Award, 2012
Inaugural AQR Insight Award, honorable mention, 2012
RWC Marshall Blume Prize, honorable mention, 2011
Dean’s Small Research Grant, Carlson School of Management, 2009‐2012
Sterling Prize Fellow, Yale University, 2000‐2002
The Best Senior Thesis Award, Univ. of Science & Technology of China, 2000
其他服务
副主编, Journal of Financial Economics, 2021~
副主编, Journal of Empirical Finance, 2020~
副主编, Journal of Economic Dynamics and Control, 2018~
副主编, Financial Management, 2019~ 2022
Ph.D. Program Coordinator in Finance, 2013-2015, University of Minnesota
Faculty Recruiting Committee, 2013-2014, University of Minnesota
Seminar and Brownbag Organizer, 2009-2010, University of Minnesota
