• Zhan Xintong

    Finance

    Add: Guoshun Road Siyuan Building Room 232, Siyuan Building

    Tel: 25011068(TEL)

    E-mail: xintongzhan@fudan.edu.cn

    Research Field: Empirical Asset Pricing, Sustainable Finance, Empirical Corporate Finance

    Website: https://xintongzhan.github.io/

    Teacher information
    Achievements in scientific research
    Academic activities and community service

    Educational Background

    Doctor Degree,Finance,The Chinese University of Hong Kong, HK

    Bachelor Degree,Finance,Peking University

    Academic Background

    2018.08——2021.12,Assistant Professor of Finance and Real Estate,CUHK Business School, Chinese University of Hong Kong

    2016.09——2018.07,Assistant Professor of Finance,Erasmus School of Economics, Erasmus University Rotterdam, the Netherlands

    Awards on Research

    2024.12,CFA Institute Prize for Best Paper in ESG and Sustainability,The 37th Australian Finance & Banking Conference

    2024.06,Best Paper Award,2024 Hong Kong Conference for Fintech, AI, and Big Data in Business

    2023.07,Best Conference Paper Award,China Derivatives Youth Forum

    2023.03,Best Paper Prize,2023 Consortium on Asset Management

    2021.07,Young Researcher Award 2020,The Chinese University of Hong Kong

    2021.07,Shinhan Investment Paper Award,The 17th Conference of Asia-Pacific Association of Derivatives

    2020.09,Best Paper Award on Derivatives at the Northern Finance Association Annual Conference (2020),Northern Finance Association

    2020.02,Best Paper Prize,2020 Consortium on Asset Management

    2019.11,2019 AAM–CAMRI Prize in Asset Management,Asia Asset Management, National University of Singapore

    2018.12,Best Paper Award,Second Prize,The 26th Conference on the Theories and Practices of Securities and Financial Markets

    2018.05,ETF Research Academy Award,Paris–Dauphine House of Finance and Lyxor Asset Management

    2017.09,2017 Chicago Quantitative Alliance (CQA) Academic Competition Award,Third Prize,Chicago Quantitative Alliance(CQA)

    2016.11,2016 Chicago Quantitative Alliance Asia (CQAsia) Academic Competition Award,Second Prize,Chicago Quantitative Alliance Asia (CQAsia)

    2015.12,Zephyr Prize for Best Paper in Corporate Finance,The 28th Australian Finance and Banking Conference Committee

    Awards on Teaching

    2021.03,Faculty Teaching Merit Award,Chinese University of Hong Kong (CUHK) Business School


    Journal Papers


    1.Jie Cao, Yi Li, Xintong Zhan, Weiming Zhang, and Linyu Zhou2025Carbon emissions, mutual fund trading, and the liquidity of corporate bondsManagement Science forthcoming 1-28.  



    2.Jie Cao, Jason C. Hsu, Linjia Song, Zhanbing Xiao, and Xintong Zhan2025Smart beta, “smarter” flowsJournal of Empirical Finance 81 1-16.  



    3.Jie (Jay) Cao, Michael Hertzel, Jie (Jessica) Xu, and Xintong (Eunice) Zhan2025Options trading and corporate debt structureJournal of Accounting and Public Policy 49 107274, 1-23.  



    4.Jie Cao, Amit Goyal, Sai Ke, and Xintong Zhan2024Options trading and stock price informativenessJournal of Financial and Quantitative Analysis 59(4) 1516-1540.  



    5.Jie Cao (Jay), Xintong Zhan (Eunice), Weiming Zhang (Elaine), and Yaojia Zhang (Zoe)2023The return predictability of carbon emissions: Evidence from Hong Kong and SingaporePacific-Basin Finance Journal 82 1-21.  



    6.Jie Cao, Sheridan Titman, Xintong Zhan, and Weiming Zhang2023ESG preference, institutional trading, and stock return patternsJournal of Financial and Quantitative Analysis 58(5) 1843-1877.  



    7.Jie (Jay) Cao, Aurelio Vasquez, Xiao Xiao, and Xintong (Eunice) Zhan2023Why does volatility uncertainty predict equity option returns?The Quarterly Journal of Finance 13(1) 1-35.  



    8.Jie Cao, Bing Han, Linjia Song, and Xintong Zhan2023Option price implied information and REIT returnsJournal of Empirical Finance 71 13-28.  



    9.Jie Cao, Amit Goyal, Xiao Xiao, and Xintong Zhan2023Implied volatility changes and corporate bond returnsManagement Science 69(3) 1375-1397.  



    10.Xintong (Eunice) Zhan, Bing Han, Jie Cao, and Qing Tong2022Option return predictabilityThe Review of Financial Studies 35(3) 1394–1442.  



    11.Tao Shu, Xuan Tian, and Xintong Zhan2022Patent quality, firm value, and investor underreaction: Evidence from patent examiner busynessJournal of Financial Economics 143(3) 1043–1069.  



    12.Jie Cao, Tarun Chordia, and Xintong Zhan2021The calendar effects of the idiosyncratic volatility puzzle: a tale of two days?Management Science 67(12) 7866–7887.  



    13.Jie Cao, Hao Liang, and Xintong Zhan2019Peer effects of corporate social responsibilityManagement Science 65(12) 5487-5503.  



    14.Xu Li, Chen Lin, and Xintong Zhan2019Does change in the information environment affect financing choices?Management Science 65(12) 5676–5696.  



    15.Si Li and Xintong Zhan2019Product market threats and stock crash riskManagement Science 65(9) 4011–4031.  



    16.Xintong Zhan and Yajing Wang2023Forecasting Option ReturnTsinghua Financial Review (5) 97-98(in Chinese) 


    Research Projects

    2023.01—2026.12Principal InvestigatorESG Performance and Options MarketNational Natural Science Foundation of China

    2020.01—2021.11Principal InvestigatorSustainability or Return? The Impact of Sustainability Rating on the Flow-Performance Sensitivity of Mutual FundsHong Kong Research Grants Council, Early Career Scheme

    2019.05—2021.12Co-PIESG Preference and Market EfficiencyGeneva Institute for Wealth Management

    2019.04—2020.12Co-PIESG Preference and Market EfficiencyParis–Dauphine House of Finance and Unigestion


    Academic Posts

    2025.07—,Senior Research Fellow (Honorary),Lau Chor Tak Institute of Global Economics and Finance

    2025.03—,Associate Editor,Asia-Pacific Journal of Financial Studies

    2024.01—,Editorial Board Member,Financial Analysts Journal

    2023.09—,Fellow,Asian Bureau of Finance and Economic Research (ABFER)

    2023.07—,Research Fellow (Honorary),Lau Chor Tak Institute of Global Economics and Finance

    2023.06—,Associate Editor,International Review of Finance

    2023.02—,Editor,China Accounting and Finance Review

    Academic Conferences

    2024.08European Finance Association (EFA) 2024 Annual MeetingBratislava

    2024.07The 2024 China International Confernece in Finance (CICF)Beijing

    2024.01American Finance Association (AFA) 2024 Annual MeetingSan Antonio

    2023.10Academic Network Conference PRI in Person 2023Tokyo, Japan

    2023.072023 MIT Asia Conference in AccountingSingapore

    2023.07The 2023 China International Confernece in FinanceShanghai, China

    2023.06Alliane for Research on Corporate Sustainability 15th Annual Reearch ConferenceWashington, DC, USA

    2023.032023 Consortium on Asset ManagementCambridge, England

    2022.01American Finance Association (AFA) 2022 Annual MeetingVirtual Conference

    2021.01American Finance Association (AFA) 2021 Annual MeetingVirtual Conference

    2020.08European Finance Association (EFA) 2020 Annual MeetingVirtual Conference

    2020.06Western Finance Association (WFA) 2020 Annual MeetingVirtual Conference

    2020.05The SFS Cavalcade North America 2020Virtual Conference

    2020.01American Finance Association (AFA) 2020 Annual MeetingSan Diego, USA

    2019.06Western Finance Association (WFA) 2019 Annual MeetingLos Angeles, USA

    2017.01American Finance Association (AFA) 2017 Annual MeetingChicago, USA

    2016.08European Finance Association (EFA) 2016 Annual MeetingOslo, Norway

    2016.01American Finance Association (AFA) 2016 Annual MeetingSan Francisco, USA