Hang Bai

Associate Professor

Finance

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Hang Bai is an Associate Professor of Finance at the School of Business of the University of Connecticut. He joined UConn in 2016 after earning a Ph.D. in Finance from the Fisher College of Business at the Ohio State University. His research interests include asset pricing, credit risk, macro finance, and labor finance. His work has been published at the Journal of Financial Economics and has been presented at the American Finance Association, the American Economic Association, and the Society for Financial Studies Cavalcade meetings. He has received the Most Outstanding Professor MSFRM Program award in 2017, 2018, and 2019, respectively.

 

Research Interests

Asset Pricing, Credit Risk, Macro Finance, Labor and Finance

 

Education

Ph.D., Finance, The Ohio State University, 2016
M.A., Business Administration, Duke University, 2012
M.S., Engineering, University of California Berkeley, 2008
B.E., Engineering, Tsinghua University, 2007

 

Publications

“Searching for the Equity Premium” (with Lu Zhang), Journal of Financial Economics, Volumn 143, Issue 2, 2022, 897-926

“Unemployment and Credit Risk” , Journal of Financial Economics, Volumn 142, Issue 1, 2021, 127-145

“The CAPM Strikes Back? An Equilibrium Model with Disasters” (with Kewei Hou, Erica X.N. Li, Howard Kung, and Lu Zhang), Journal of Financial Economics, Volumn 131, Issue 2, 2019, 269-298

 

Working Papers

“Does Costly Reversibility Matter for U.S. Public Firms?” (with Erica X.N. Li, Chen Xue, and Lu Zhang)
Revise and Resubmit, Journal of Finance

“Predictable Returns over the Credit Cycle”

“Asymmetric Investment Rates” (with Erica X.N. Li, Chen Xue, and Lu Zhang)

“An Equilibrium Theory of Factors” (with Erica X.N. Li, Chen Xue, and Lu Zhang)

 

Work in Progress

“The Term Structure of Interest Rates in a New Keynesian Search Model” (with Lu Zhang)

“Rollover Risk and Unemployment Fluctuations”

“Asset Prices under Endogenous Labor Supply” (with Lu Zhang)

“Financial Crises and the CAPM”

 

Awards and Honors

Best Paper Award, School of Business, University of Connecticut, 2022
Special Achievement Award for Publication in Premier Finance Journal, 2021
Most Outstanding Professor MSFRM Program, 2019
Special Achievement Award for Publication in Premier Finance Journal, 2018
Most Outstanding Professor MSFRM Program, 2018
Most Outstanding Professor MSFRM Program, 2017
Macro Finance Society Workshop Travel Grant, Philadelphia, 2015
Rene M. Stulz Scholar Development Award, 2014
AFA Doctoral Student Travel Grant, 2014