Faculty Directory

Associate Professor of Finance

Norman J. Metcalfe Endowed Professor in Finance

Academic Expertise

Selected Publications

1. “The Smart Beta Mirage“

   Journal Article:Huang, S., Song, Yang and Hong, X., (2024). Journal of Financial and Quantitative Analysis, Vol. 59(6), pp. 2515-2546.
2. “Discontinued Positive Feedback Trading and the Decline of Return Predictability“

   Journal Article:Ben-David, I., Li, J., Rossi, A., Song, Y., (2024). Journal of Financial and Quantitative Analysis, Vol. 59(7), pp. 3062-3100.
3. “Index Providers: Whales Behind the Scenes of ETFs“

   Journal Article:An, Y., Benetton, M., and Song, Yang, (2023). Journal of Financial Economics, Vol. 149(3), pp. 407-433..
4. “A Frog in Every Pan: Information Discreteness and the Lead-lag Returns Puzzle“

   Journal Article:Lee, C.M.C., Huang, S., Song, Yang, and Xiang, H., (2022). Journal of Financial Economics, Vol. 145(2A), pp. 82-102.
5. “What do Mutual Fund Investors Really Care About?“

   Journal Article:Ben-David, I., Li, J., Rossi, A., and Song, Yang, (2022). Review of Financial Studies, Vol. 35(4), pp. 1723-1774.
6. “Ratings-Driven Demand and Systematic Price Fluctuations“

   Journal Article:Ben-David, I., Li, J., Rossi, A., and Song, Yang, (2022). Review of Financial Studies, Vol. 35(6), pp. 2790-2838.
7. “Obfuscation in Mutual Funds“

   Journal Article:de Haan, E., Song, Y., Xie, C., and Zhu, C., (2021). Journal of Accounting and Economics, Vol. 72(2-3),
8. “The Mismatch Between Mutual Fund Scale and Skill“

   Journal Article:Song, Y., (2020). Journal of Finance, Vol. 75(5), pp. 2555-2589.
9. “Funding Value Adjustments“

   Journal Article:Andersen, L., Duffie, D., and Song, Yang, (2019). Journal of Finance, Vol. 74(1), pp. 145-192.

Selected Publications

60679

Working Papers

Dealer Funding Costs: Implications for the Term Structure of Dividend Risk Premia

Flow-induced Trades and Asset Pricing Factors with Shiyang Huang and Hong Xiang

Fragile Factor Premia with Shiyang Huang and Hong Xiang

The Intermediary Rat Race with Yu An and Xingtan Zhang

Performance Evaluation with Latent Factors with Qingyuan Zhao

Courses Taught

FIN 460 Investments