Gao, Zhenyu

BS, MA (Peking U); PhD (Princeton University)

Assistant Professor


Department of Finance

Room 1244, 12/F
Cheng Yu Tung Building
12 Chak Cheung Street
Shatin, N.T., Hong Kong

+852 3943 1824


Prof. Zhenyu Gao is an Assistant Professor in Finance at The Chinese University of Hong Kong (CUHK) Business School. Prof. Gao joined CUHK Business School in 2014. His primary research interest is in asset pricing, behavioural finance, real estate finance, and Chinese economy. He received his PhD in Economics from Princeton University and MA in Economics as well as BS in Astrophysics from Peking University.

Teaching Area


Research Interests

Asset Pricing
Behavioural Finance
Real Estate Finance
Chinese Economy

  • Publications & Working Papers
    • Ting Chen, Zhenyu Gao, Jibao He, Wenxi Jiang, and Wei Xiong (Forthcoming), “Daily Price Limits and Destructive Market Behaviour,” Journal of Econometrics.
    • Darwin Choi, Zhenyu Gao, and Wenxi Jiang, “Attention to Global Warming.”  In-principle acceptance of RFS Climate Finance registered report, completion of the paper in progress, Review of Financial Studies.
    • Zhenyu Gao, Haohan Ren, and Bohui Zhang, “Googling Investor Sentiment around the World,” Revise & Resubmit, Journal of Financial and Quantitative Analysis. 
    • Zhenyu Gao, Michael Sockin, and Wei Xiong, “Economic Consequences of Housing Speculation.”
    • Zhenyu Gao, Michael Sockin, and Wei Xiong, “Learning about the Neighbourhood.”
    • Ran Duchin, Zhenyu Gao, and Haibing Shu, “Involuntary Political Connections and Firm Outcomes.”
    • Zhenyu Gao, Wenxi Jiang, and Da Tian, “Liquidity-based Stock Network.”
    • Zhengyu Gao, Jiang Luo, Haohan Ren, and Bohui Zhang, “Are Institutional Traders Sentimental?”
    • Zhengyu Gao, Po-hsuan Hsu, and Sahn-wook Huh, “Technology Competition and Informed Trading: Evidence from Weekly Patent Announcements.”
  • Grants
    • “Daily Price Limits and Contagion in Stock Markets”, General Research Fund awarded by Research Grants Council, 2018-2020
    • “Measuring Investor Sentiment in the Housing Markets”, Early Career Scheme awarded by Research Grants Council, 2015-2017
  • Awards & Honours
    • Emerald Best Paper Award at the China Finance Review International Conference, 2017
    • Princeton University Fellowship, 2008-2013
  • Academic/Professional Services
    • Ad-hoc Referee for the American Economic Review, the Journal of Finance, the Journal of Empirical Finance, and the Journal of Banking and Finance
    • Seminar coordinator, Department of Finance at CUHK Business School, 2014-2017