Baolian Wang
Associate Professor | University of Florida
Gainesville, FL, UNITED STATES
Baolian Wang is an expert in behavioral finance, investor behavior, cryptocurrency and social finance.
Biography
Baolian Wang is currently the Bank of America associate professor of finance at the University of Florida. His research areas are empirical asset pricing, behavioral finance, investor behavior, FinTech, and the Chinese economy. His research has been published in leading academic journals, including Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Management Science, Journal of Financial and Quantitative Analysis, Review of Finance, Review of Accounting Studies, Critical Finance Review, and Strategic Management Journal.
Areas of Expertise (3)
Empirical Asset Pricing
Investor Behavior
Fintech
Media Appearances (3)
Warrington finance professor’s research named the best in behavioral finance
UF Warrington College of Business online
2024-07-24
Bank of America Associate Professor of Finance Baolian Wang’s research was named the best in behavioral finance at the 2024 China Financial Research Conference. The research paper was selected for the prestigious prize in academic financial research by a panel of international scholars representing universities across the United States, Europe and Asia.
Finance professor honored for outstanding stock market research
UF Warrington College of Business online
2023-04-19
Baolian Wang, Bank of America Associate Professor of Finance, is the second prize recipient of the Roger F. Murray prize. Every year, the Institute for Quantitative Research in Finance, or Q Group, awards three prizes to individuals who present outstanding financial research at the Q Group’s seminars. For the originality, usefulness and excellence of his work, as well as his presentation skills, Wang was honored with second place.
Gainesville residents are feeling the impact of high gas prices
WUFT online
2022-04-12
Wang said he believes that the gas crisis is internationally correlated with policies and sanctions. He said he finds it hard to predict how long gas inflation will last given the current price. “The government can control some oils, and they can release it from strategic reserves, and that would help some of the oil crisis,” Wang said.
Articles (4)
The Portfolio-Driven Disposition Effect
The Journal of FinanceLi An, et. al
2023-11-21
The disposition effect for a stock significantly weakens if the portfolio is at a gain, but is large when it is at a loss. We find this portfolio-driven disposition effect (PDDE) in four independent settings: US and Chinese archival data, as well as US and Chinese experiments. The PDDE is robust to a variety of controls in regression specifications and is not explained by extreme returns, portfolio rebalancing, tax considerations, or investor heterogeneity.
Stakes and Investor Behaviors
SSRNPengfei Sui & Baolian Wang
2023-08-27
We examine how stakes affect investor behaviors. In our unique setting, the same investors trade stocks in real accounts using their own money and, at the same time, trade in a simulated setting. Our real-world within-investor estimation produces strong evidence that investors exhibit stronger biases and perform worse in their higher-stakes real accounts than in their lower-stakes simulated accounts.
A New Value Strategy
Review of Asset Pricing StudiesBaolian Wang
2023-06-09
Traditional value measures performed poorly in the past three decades. We reevaluate the value strategy using a new measure—the ratio of cash-based operating profitability to price (COP/P)—and find a zero-investment portfolio that buys the highest-COP/P stocks and shorts the lowest-COP/P stocks earns monthly returns of 0.78% on a value-weighted basis and 1.04% on an equal-weighted basis.
The Effect of Government Reference Bonds on Corporate Borrowing Costs: Evidence from a Natural Experiment
Management ScinceMark J Flannery, et al.
2022-08-11
Government bonds might provide reference entities that reduce corporate bond yields. We study China’s 2017 issuance of two U.S. dollar (USD)-denominated sovereign bonds when there were (effectively) no outstanding USD sovereigns. We find that Chinese corporate USD bonds experienced a four- to nine-basis-point decline in yield spreads, whereas corporate renminbi (RMB) bonds did not. The effect was stronger for corporate bonds with maturities similar to those of the USD sovereigns.
Social