Prof. Bing HAN

Visiting Chair Professor of Financial Economics

PhD

Biography

Bing Han is a Professor of Finance and the TMX Chair in Capital Markets at University of Toronto, on leave visiting Hong Kong Polytechnic University. Previously, he was on the faculty at Ohio State University and University of Texas at Austin. His research focuses on Behavioral Finance, Investments, and Asset Pricing. He has published in top finance and economics journals including Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Review of Economic Studies, International Economic Review, Journal of Economic Theory, Journal of Financial and Quantitative Analysis, Management Science, and Review of Finance. His research has won numerous awards, and featured in mainstream media such as BBC, New York Times, Wall Street Journal, Washington Post, The Economist. He serves on the editorial board at several finance and economics journals.

Teaching Area

Investments

Risk Management

Research Interests

Research Output

Prospect Theory, Mental Accounting and Momentum (with Mark Grinblatt). Journal of Financial Economics, 2005, Vol. 78, pp. 311-339.
Stochastic Volatilities and Correlations of Bond Yields. Journal of Finance, 2007, Vol. 62, pp. 1491-1524.
The U.S. Treasury Buyback Auctions: The Cost of Retiring Illiquid Bonds (with Craig Merrill and Francis Longstaff). Journal of Finance, 2007, Vol. 62, pp. 2673-2693.
Investor Sentiment and Option Prices. Review of Financial Studies, 2008, Vol. 21, pp. 387-414.
Promotion Tournaments and Capital Rationing (with David Hirshleifer and John Persons). Review of Financial Studies, 2009, Vol. 22, pp. 219-255.
Forecast Accuracy Uncertainty and Momentum (with Dong Hong and Mitch Warachka). Management Science, 2009, Vol. 55, pp. 1035-1046.
Fear of the Unknown: Familiarity and Economic Decisions (with H. Henry Cao, David Hirshleifer, and Harold Zhang). Review of Finance, 2011, Vol. 15 (1), pp. 173-206.
Investor Overconfidence and the Forward Discount Puzzle (with Craig Burnside, David Hirshleifer and Tracy Wang). Review of Economic Studies, 2011, Vol. 78 (2), pp. 523-558.
Taking the Road Less Travelled: Does Conversation Eradicate Pernicious Cascades? (with H. Henry Cao and David Hirshleifer). Journal of Economic Theory, 2011, Vol. 146 (4), pp. 1418-1436.
Cross-section of Option Returns and Idiosyncratic Stock Volatility (with Jie Cao). Journal of Financial Economics, 2013, Vol. 108, pp. 231-249.
Speculative Retail Trading and Asset Prices (with Alok Kumar). Journal of Financial and Quantitative Analysis, 2013, Vol. 48 (2), pp. 377-404.
Social Networks, Information Acquisition, and Asset Prices (with Liyan Yang). Management Science, 2013, Vol. 59 (6), pp. 1444-1457.
Public Information and Uninformed Trading: Implications for Market Liquidity and Price Efficiency (with Ya Tang and Liyan Yang). Journal of Economic Theory, 2016, Vol. 163, pp. 604-643.
Idiosyncratic Risk, Costly Arbitrage, and the Cross-Section of Stock Returns (with Jie Cao). Journal of Banking and Finance, 2016, Vol. 73, pp. 1-15.
Term Structure of Credit Default Swap Spreads and Cross-section of Stock Returns (with Avanidhar Subrahmanyam and Yi Zhou). Journal of Financial Economics, 2017, Vol. 124 (1), pp. 147-171.
Institutional Investment Constraints and Stock Prices (with Jie Cao and Qinghai Wang). Journal of Financial and Quantitative Analysis, 2017, Vol. 52 (2), pp. 465-489.
Housing Price and Fundamentals in the Long Run: The Case of Beijing Market (with Lu Han and Guozhong Zhu). International Economic Review, 2018, Vol. 59 (3), pp. 1653-1677.
Do Analysts Gain an Informational Advantage by Visiting Listed Companies? (with Dongmin Kong and Shasha Liu). Contemporary Accounting Research. 2018, Vol. 35 (4), pp. 1843-1867.
Two Trees with Heterogeneous Beliefs: Spillover Effect of Disagreement (with Lei Lu and Yi Zhou). Journal of Financial and Quantitative Analysis. 2019, Vol. 54 (4), pp. 1791-1819.
Information Content of Aggregate Implied Volatility Spread (with Gang Li). Management Science. 2021, Vol. 67 (2), pp. 1249-1269.
Sentiment Trading and Hedge Fund Returns (with Yong Chen and Jing Pan). Journal of Finance. 2021, Vol. 76 (4), pp. 2001-2033.
Social Transmission Bias and Investor Behavior (with David Hirshleifer and Johan Walden). Journal of Financial and Quantitative Analysis. 2022, Vol. 57 (1), pp. 390-412.
Option Return Predictability (with Xintong Zhan, Jie Cao, and Qing Tong). Review of Financial Studies. 2022, Vol. 35 (3), pp. 1394-1442.
Visibility Bias in the Transmission of Consumption Beliefs and Undersaving (with David Hirshleifer and Johan Walden). Journal of Finance. 2023, Vol. 78 (3), pp. 1647-1704.