Prof. Shen ZHAO (趙珅) - Faculty of Business Administration

shenzhao@um.edu.mo

+853 8822-9049

E22-4054
Faculty of Business Administration
University of Macau, E22
Avenida da Universidade,
Taipa, Macau, China

Ph.D in Finance, Hong Kong University of Science and Technology, Hong Kong (2016)
MBA, M.S. in Finance, Washington University in Saint Louis, U.S.A. (2004)
B.S. in Economics, University of International Business and Economics, China (1997)

Assistant Professor of Finance, The Chinese University of Hong Kong, Shenzhen, China (Jun. 2016 – Jun. 2024)
Investment Analyst, Reinsurance Group of America, U.S.A. (Jun. 2004 – Jul. 2010)
Credit Analyst, Industrial and Commercial Bank of China Headquarter, China (1997 Jun. – 2001 Nov.)

Hide in the herd: macroeconomic uncertainty and analyst forecast dispersion 2023. Shen Zhao and Guofu Zhou. Working paper.
Uncertainty effects on stock price reaction to Federal Reserve policy. Shen Zhao 2023. Working paper.
Predictability and Uncertainty. Shen Zhao and Guofu Zhou. Working in progress.

Asset pricing, macroeconomics, information diffusion, uncertainty, predictability, behavioral finance

Investor Sentiment and economic forces. Junyan Shen, Jianfeng Yu and Shen Zhao 2017 Journal of Monetary Economics 86 1-27.
Time-varying demand for lottery: Speculation ahead of earnings announcements. Bibuo Liu, Huijun Wang, Jianfeng Yu, and Shen Zhao 2020. Journal of Financial Economics 138 789-817.
The macroeconomic announcement premium and information environment 2023. Chu Zhang and Shen Zhao. Journal of Monetary Economics 139 55-73.

[Conference Presentation] Chu Zhang and Shen Zhao, The macroeconomic announcement premium and information environment, Northern Finance Association, 30th annual conference, September 2018; Multinational Finance Society, 25th annual conference, June 2018.
[Conference Presentation] Shen Zhao and Guofu Zhou, Hide in the herd: macroeconomic uncertainty and analyst forecasts dispersion, The 19^th Chinese Finance Annual Meeting 2022; The 29^th Annual MFS Conference 2023; FMA Annual Conference 2023; 16th annual meeting of the Academy of behavioral finance and economics 2023.