Finance

Faculty

Zhu Wu

Department of Finance    Assistant Professor

Phone: (86) (10) 62792443

E-mail:zhuwu@sem.tsinghua.edu.cn

Office:B328 Lihua Building

Office Hours:Monday 14:00-17:00 PM

Educational Background

2021 The Unversity of Pennsylvania, Ph.D. in Economics 

2021 The University of Pennsylvania,  Master in Statistics

2016  Peking University, Master in Economics

2009  University of Science and Technology Beijing, Bachelor in Materials Physics 

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Work Experience

2021-Now   Department of Finance SEM, Tsinghua University


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Courses

Teaching:

Advanced Empirical Asset Pricing (Ph.D. 2023 Fall)

Methodology and Applications of Financial Big Data (Graduate students, 2021-2023 Fall)

Deep Learning and Its Applications in Finance (Undergraduate)

Machine Learning and Its Applications in Finance (Undergraduate)

Machine Learning (Graduate students, 2024 Fall)

Advanced Corporate Finance (Ph.D. 2021 Fall, 2022 Fall)


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Research Areas

Finance, AI (Artificial Intelligence), Big Data, Network Economics, Portfolio Management, Macroeconomics, Innovation, and Chinese Economy.



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Publications

Papers:

  1. "Hierarchical Vintage Sparse PCA. Discussion on the paper by Rohe and Zeng",  with Jeff Cai, Dan Yang, Linda Zhao, Journal of the Royal Statistical Society B: Statistical Methodology, 2023,

  2. Network Regression and Supervised Centrality Estimation, with Jeff Cai, Ran Chen, Haipeng Shen,  Dan Yang, and Linda Zhao (Revise&Resubmit, Journal of the American Statistical Association, IMS 2023, INFORMS ANNUAL 2023)

  3. Textual Factors: A Scable, Interpretable, and Data-driven Approach to Analyzing Unstructured Information. with William Lin Cong, Tengyuan Liang, Xiao Zhang (Revise&Resubmit, Management Science)

  4. The Network Effects of Agency Conflicts, with Rakesh Vohra and Yiqing Xing, (Reject&Resubmit, American Economic Review)

  5. Ownership Network and Firm Growth - What Do Forty Million Companies Tell Us About the Chinese Economy?  with Frankin Allen, Jeff Cai, Xian Gu, QJ Jun Qian, and Linda Zhao (Best Paper Award in CFRC2021), (Revise&Resubmit, Management Science)

  6. State Ownership in China: An Equity Network Perspective, "The Arc of the Chinese Economy", the University of Pennsylvania, 2023, with Jeff Cai, Xian Gu, Linda Zhao. edited by, Hanming Fang and Marshall W. Mayer (Cambridge University Press, to appear)

  7. ChatGPT, Stock Market Predictability, and Links to the Macroeconomy (with Jian Chen, Guohao Tang, and Guofu Zhou, Submitted)

  8. Centralization or Decentralization - The Evolution of State Ownership in China, with Franklin Allen, Jeff Cai, Xian Gu, QJ Jun Qian, Linda Zhao (Best Paper Award in CICF2021, Submitted)

  9. Tiered Intermediation in Business Groups (with Robert Townsend and Yu Shi, Finalists of Best Ph.D. Paper in MFA 2020, Submitted)

  10. Link Complexity and Cross Predictability, with Guofu Zhou, Finalist of Best Paper in Financial Management Association 2020 (US)

  11. Optimal Assortment and Pricing Via Generalized MNL Models with Novel Poisson Arrivals (with Ran Chen, Jeff Cai, Qitao Huang, Martin Wainwright, Linda Zhao, 2024 Econometric Society Interdisciplinary Frontiers (ESIF) conference on Economics and AI+ML, INFORMS Annual 2024)

  12. Networks and Business Cycles, with Yucheng Yang

  13. Automation-Induced Innovation Shift (with William Lin Cong, Yao Lu, and Hanqing Shi, 2024 AsianFA).

  14. Innovation Networks and M&A, (come out soon, with Yuwei Cui, and Yao Lu)

  15. The Carbon Risk Premium in  Production Networks (come out soon, with Shubo Kou, and Minghao Li)

Projects in progress:

1. A Tale of Two Networks: Investments Like China

2. Sourcing News (with Gerard Hoberg)

3. SOSS Projects (with William Lin Cong)

4. Novelty Premium and LLMs (come out soon, prelimary draft is available)

5. Competitive Narratives (with Shangjin Wei)

Book Chapters:

1. State Ownership in China: An Equity Network Perspective, "The Arc of the Chinese Economy", the University of Pennsylvania, 2023, with Jeff Cai, Xian Gu, Linda Zhao. edited by, Hanming Fang and Marshall W. Mayer (to appear)

Media Coverages:

1. "Tiered Intermediation in Business Groups", with Robert Townsend and Yu Shi, (VoxChina)

2. "Centralization or Decentralization - the Evolution of State Ownership in China", with Franklin Allen, Jeff Cai, Xian Gu, Jun Qian (QJ), Linda Zhao (VoxChina)

3. "Centralization or Decentralization - the Evolution of State Ownership in China", with Franklin Allen, Jeff Cai, Xian Gu, Jun Qian, Linda Zhao (Stanford China Briefs, China's Economy and Institutions )







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Industry Experience

2023 清华大学经管学院先进工作者

2022  清华大学经管学院学生工作优秀奖(一等奖)

2021 清华大学经管学院学生工作优秀奖(二等奖)

2021 XiYue Best Paper Award in CICF (China International Conference in Finance)

2021 Best Paper Award in CFRC (China Finance Research Conference)

2020 Finalist of Best Ph.D. Paper Award in Middlewest Financial Association (MFA)

2020 Finalist of Best Paper in Investment (Financial Management Association, US)

2020 Wharton Mack Institute for Innovation Research (Machine Learning, Networks, and Asset Pricing, 2020)

2018, 2019 Wharton Global Initiatives Research Grant (2018, 2019)



Editorial Services:

Management Science   Associate Editor(Guest)     2024-

Program Committee, 2024 ACM International Conference on AI in Finance


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