Job Market Candidates
Fanqi (Grace) Meng
Fanqi Meng joined the Finance PhD program in July 2017. Her current research interests include asset pricing and corporate finance including derivatives and hedge fund. Before joining the University of Melbourne, she studied at Loyola University Chicago for her masters degree.
Job market paper Friends versus Funding: Unpacking the Dynamics of Social Connections and Staged Financing in VC Investment
Placement: Southwestern University of Finance and Economics, School of Finance
Bochen Wu
Bochen Wu joined the Finance PhD program in 2018. Prior to this, he gained his MPhil and MCom in Finance from the University of Sydney. Bochen’s main research interests are in the areas of empirical asset pricing, behavioral finance, and emerging markets. Additional supervision provided by Joachim Inkmann and Yichao Zhu.
Job market paper Security Lending Market, Secondary Market Arbitrageurs, and ETF Mispricing
This paper examines the effect of ETF short-sale costs on ETF pricing efficiency. I find that ETF premiums are positively associated with the costs of borrowing ETFs, which are primarily a friction for ETF secondary market arbitrageurs. Leveraging two exogenous variations in ETF borrowing costs, I establish a causal effect of borrowing costs on ETF mispricing. Furthermore, the sensitivity of ETF mispricing on borrowing costs depends on the activeness of primary market arbitrageurs. Collectively, empirical findings in the paper emphasize the role of the secondary market participants in the ETF arbitrage mechanism, and reveal an interdependence between the primary and secondary markets.
For more information, please visit my personal website
Placement: Southwestern University of Finance and Economics, Institute of Financial Studies
Email: wubochen@swufe.edu.cn