Mendoza School of Business

Pengjie Gao

  • Biography
  • Background
  • Publications
  • Awards

Paul Gao first joined the University of Notre Dame in 2007, where he is currently the Professor of Finance at the University of Notre Dame. He was an associate professor of finance at the Hong Kong University of Science and Technology (HKUST) Business School, and a visiting senior economist at the Shanghai Stock Exchange (SHSE). He has published in the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics. He is the past winner of the prestigious Jensen Prizes, Fama-DFA Prize, Cowen Memorial Prize, CQA Research Award, and Q-Group Research Award. He serves as the associate editors for the Pacific Basin Finance Journal, and the Financial Management. He earned his doctoral degree in Financial Economics from Kellogg School of Management, Northwestern University in 2007.

Ph D, Northwestern University

Areas of Expertise
Asset Pricing
Corporate Finance
Investment Management

"Financing Dies in Darkness? The Impact of Newspaper Closures on Public Finance", (With Chang Lee, Dermot Murphy), Journal of Financial Economics

"What's in a (school) name? Racial discrimination in higher education bond markets", (With Casey Dougal, Bill Mayhew, Christopher Parsons), Journal of Financial Economics

"Municipal Borrowing Costs and State Policies for Distress Municipalities", (With Chang Lee, Dermot Murphy), Journal of Financial Economics, 132, 2019

"Do Hedge Funds Exploit Rare Disaster Concerns?", (With George Gao, Zhaogang Song), Review of Financial Studies, 31, 2018

"The Global Relation Between Financial Distress and Equity Returns", (With Christopher Parsons, Jianfen Shen), Review of Financial Studies, 31, 2018

"Liquidity in a Market for Unique Assets: Specified Pool and TBA Trading in the Mortgage Backed Securities Market", (With Paul Schultz, Zhaogang Song), Journal of Finance, 72, 2017

"Short Sales and the Weekend Effect – Evidence from a Natural Experiment", (With Jia Hao, Ivalina Kalcheva, Tongshu Ma), Journal of Financial Markets, 2015

"Sum of All FEARS: investor sentiment and asset prices", (With Zhi Da, Joseph Engelberg), Review of Financial Studies, 2014

"The Value of a Rolodex: CEO Pay and Personal Network", (With Joey Engelberg, Chris Parsons), Review of Financial Studies, 26, 2013

"Friends With Money", (With Joseph Engelberg, Christopher Parsons), Journal of Financial Economics, 2012

"In Search of Attention", (With Zhi Da, Joseph Engelberg), Journal of Finance, 2011

"Impatient Trading, Liquidity Provision and Mutual Fund Stock Selections", (With Zhi Da, Ravi Jagannathan), Review of Financial Studies, 2011

"Clientele Change, Liquidity shock, and the Return on Financially Distressed Stocks", (With Zhi Da), Journal of Financial and Quantitative Analysis, 2010

"Jensen Prizes", the Journal of Financial Economics , 2020

"Q-Group Research Award", Q-Group, 2013

"Crowell Memorial Prize", PanAgora Asset Management Academic Competition, 2010

"CQA Academic Competition, First Prize", Chicago Quantitative Alliance, 2009