Fan Yang

Fan Yang is an associate professor in the Department of Finance. He earned his Ph.D. in finance from the Carlson School of Management at the University of Minnesota in 2011. His research interests include theoretical and empirical asset pricing and macrofinance.

Education

• Ph.D. in Finance, Carlson School of Management, University of Minnesota, 2005-2011
• M.Sc. in Physics, McGill University, Canada, 2003-2005
• B.Sc. in Physics, Peking University, China, 1999-2003

Teaching:

University of Connecticut, Instructor:
Financial Institutions (MS in Financial Risk Management), 2015-
Theory of Financial Markets and Valuation (PhD), 2021-

The University of Hong Kong, Instructor:
Financial Economics (PhD and Master of Economics), 2013-2014
Fixed Income Securities and Interest Rate Modeling (Master of Finance), 2012-2015
Interest Rate Models (Undergraduate), 2012-2014

Carlson School of Management, Instructor:
Finance Fundamentals (Undergraduate), 2008-2009

Selected Publications

Is the Credit Spread Puzzle a Myth? (with Jennie Bai and Robert S. Goldstein), 2020, Journal of Financial Economics, 137(2), 297-319.

The Risks of Old Capital Age: Asset Pricing Implications of Technology Adoption (with Xiaoji Lin and Berardino Palazzo), 2019, Forthcoming Journal of Monetary Economics.

External Equity Financing Costs, Financial Flows, and Asset Prices (with Frederico Belo and Xiaoji Lin), 2019, Review of Financial Studies, 32(9), 3500-3543.

The Leverage Effect and the Basket-Index Put Spread (with Jennie Bai and Robert S. Goldstein), 2019, Journal of Financial Economics, 131(1), 186-205.

Investment Shocks and the Commodity Basis Spread, 2013, Journal of Financial Economics, 110(1), 164-184.

On the Relative Pricing of Long Maturity Index Options and Collateralized Debt Obligations (with Pierre Collin-Dufresne and Robert S. Goldstein), 2012, Journal of Finance, 67(6), 1983-2014.