Hang Bai

Hang Bai is an Assistant Professor of Finance at the School of Business of the University of Connecticut. He joined UConn in 2016 after earning a Ph.D. in Finance from the Fisher College of Business at the Ohio State University. His research interests include asset pricing, credit risk, macro finance, and labor finance. His work has been published at the Journal of Financial Economics and has been presented at the American Finance Association, the American Economic Association, and the Society for Financial Studies Cavalcade meetings. He has received the Most Outstanding Professor MSFRM Program award in 2017, 2018, and 2019, respectively.

Research Interests

• Asset Pricing, Credit Risk, Macro Finance, Labor and Finance

Education

• Ph.D., Finance, The Ohio State University, 2016
• M.A., Business Administration, Duke University, 2012
• M.S., Engineering, University of California Berkeley, 2008
• B.E., Engineering, Tsinghua University, 2007

Publications

• “Searching for the Equity Premium” (with Lu Zhang), Journal of Financial Economics, forthcoming
• “Unemployment and Credit Risk” , Journal of Financial Economics, Volumn 142, Issue 1, 2021, 127-145
• “The CAPM Strikes Back? An Equilibrium Model with Disasters” (with Kewei Hou, Erica X.N. Li, Howard Kung, and Lu Zhang), Journal of Financial Economics, Volumn 131, Issue 2, 2019, 269-298

Working Papers

• “Does Costly Reversibility Matter for U.S. Public Firms?” (with Erica X.N. Li, Chen Xue, and Lu Zhang)
• Revise and Resubmit, Journal of Finance
• “Predictable Returns over the Credit Cycle”
• “An Equilibrium Theory of Factors” (with Erica X.N. Li, Chen Xue, and Lu Zhang)

Work in Progress

• “The Term Structure of Interest Rates in a New Keynesian Search Model” (with Lu Zhang)
• “Rollover Risk and Unemployment Fluctuations”
• “Asset Prices under Endogenous Labor Supply” (with Lu Zhang)
• “Financial Crises and the CAPM”

Awards

• Special Achievement Award for Publication in Premier Finance Journal, 2021
• Most Outstanding Professor MSFRM Program, 2019
• Special Achievement Award for Publication in Premier Finance Journal, 2018
• Most Outstanding Professor MSFRM Program, 2018
• Most Outstanding Professor MSFRM Program, 2017
• Macro Finance Society Workshop Travel Grant, Philadelphia, 2015
• Rene M. Stulz Scholar Development Award, 2014
• AFA Doctoral Student Travel Grant, 2014