NA (NINA) WANG
Department of Finance
Frank G. Zarb School of Business
Hofstra University
Hempstead, NY 11549
ACADEMIC EXPERIENCE
Hofstra University, Frank G. Zarb School of Business, Professor of Finance Associate Professor of Finance Assistant Professor of Finance
VISITING
EDUCATION
Tel: 516-463-5498
Office: 117 Business School
Email: Na.Wang@hofstra.com
Updated: September 2023
RESEARCH INTEREST
Investment, Empirical Asset Pricing, Behavioral Finance, Financial Econometrics
PUBLICATIONS
• [12] “Comparing Geopolitical Risk Measures,” with Ahmet K. Karagozoglu and Tianpeng Zhou, August 2022, Journal of Portfolio Management Volume 48, Issue 10, 226-257
• [11] “Can Stock Message Board Sentiment Predict Future Returns? Local versus Nonlocal Posts,” with Yen-Cheng Chang and Ran Shao, 2022, Journal of Behavioral and Experimental and Finance, Volume 34, 100625.
• [10] “Trust and Local Bias of Individual Investors ,” with Ran Shao, 2021, Journal of Banking and Finance, Volume 133, 106273. (Semifinalist for Best Paper Award at FMA 2017)
• [9] “The Implications of Contemporary Research on COVID-19 for Volatility and Portfolio Management,” with Dominique Outlaw and Aimee Hoffmann Smith, 2021, Journal of Portfolio Management, Volume 47, Issue 9, Pages 159-177.
• [8] “The Effects of Credit Default Swaps on Corporate Investment,” with Jieying Hong, 2021, European Journal of Finance, Volume 27, No. 3, Pages 260-277.
• [7] “Beta Matrix and Common Factors in Stock Returns,” with Seung Ahn and Alex Horenstein, 2018, Journal of Financial and Quantitative Analysis , Volume 53, Issue 3, Pages 1417-1440.
• [6] “The Effects of Spot Market Short-Sale Constraints on Index Futures Trading,” with Frank Fabozzi and Ahmet K. Karagozoglu, 2017, Review of Finance, Volume 21, Issue 5, Pages 1975-2005. (Top 10 Session at FMA 2013)
• [5] “Sentiment and the Performance of Technical Indicators,” with Shu Feng and Edward J. Zychowicz, 2017, Journal of Portfolio Management , Volume 43, No. 3, Pages 112-125
• [4] “Sentiment and the Effectiveness of Technical Analysis: Evidence from the Hedge Fund Industry,” with David M. Smith, Ying Wang and Edward J. Zychowicz, 2016, Journal of Financial and Quantitative Analysis , Volume 51, No. 6, Pages 1991-2013 (Featured in Barclay Insider Report, July 2014; Reported by Bloomberg Business, May 2015).
• [3] “Effects of Aging on Gender Differences in Financial Markets,” with Ran Shao, 2015, Economics Bulletin, Volume 35, Issue 1, Pages 834-840.
• [2] “Trading for Status,” with Harrison Hong, Wenxi Jiang, and Bin Zhao, 2014, Review of Financial Studies, Volume 27, Issue 11, Pages 3171-3212 (Summarized in CFA Digest, April 2015).
• [1] “Impact of the Securities Transaction Tax on Stock Markets Trading,” with Dong Li, 2012, The Chinese Economy, Volume 45, Issue 5, Pages 26-49.
CONFERENCE PROCEEDINGS
• “Sentiment and the Performance of Technical Indicators,” with Edward J. Zychowicz, 2013, Midwest Finance Association Conference Proceeding , Volume 10.
WORKING PAPERS
• [9] “The Salience of Corporate Social Responsibility - Evidence from Air Pollution and Firm Performance,” with Jieying Hong and Ran Shao
• [8] “Diversity, Disagreement, and Stock Price Crash Risk,” with Yen-Cheng Chang, YuSiang Su, and Kevin Tseng, 2022 (Under Review at Management Science)
• [7] “Credit Default Swaps and Risk-taking Incentives in CEO Compensation,” with Jieying Hong, 2021
• [6] “Individual Investors and the Financial Crisis,” with Jarl Kallberg, Crocker Liu, and Ran Shao, 2022
• [5] “Does Diversity lead to Diverse Opinion? Evidence from Languages and Stock Markets,” with Yen-Cheng Chang, Harrison Hong, Larissa Tiedens, and Bin Zhao, 2016 (AFE/AEA 2015, WFA 2014, EFA 2014, Best Paper Award at the 22nd Conference on the Theories and Practices of Securities and Financial Markets)
• [4] “Who Speculates and When? Evidence from Stock Index Futures Market ,” with Ahmet K. Karagozoglu, 2016
• [3] “Don’t Confuse Brains with a Bull Market: Attribution Bias, Overconfidence, and Trading Behavior of Individual Investors,” with Zhen Shi, 2020 (EFA 2010)
• [2] “Two-Pass Tests of Asset Pricing Models when Rank Condition Fails,” with Seung Ahn, 2015
• [1] “GMM Estimation of Dynamic Models with Long Panels,” with Seung Ahn, 2018 (AEA 2018)
WORK IN PROGRESS
• [1] “Round-Trip Trades, Trading Frequency, and Performance,” with Jarl Kallberg, Crocker Liu and Adam Nowak
HONORS AND AWARDS
• Beta Gamma Sigma Faculty Inductee, Hofstra Un iversity Chapter
• Dean's Research Award, Frank G. Zarb School of Business, Hofstra University
• Lawrence A. Stessin Prize for Outstanding Scholarly Publications, Hofstra University
TEACHING EXPERIENCES
Graduate Courses
• Time Series Analysis of Financial Data (MSQF), Hofstra University
• Financial Engineering (MSQF), Hofstra University
• Research Seminar in Finance (MSF), Hofstra University
• Topics in Mathematical Finance (MSQF), Hofstra University
• Applied Econometrics Using Gauss (Ph.D.), Arizona State University
Undergraduate Courses
• Portfolio Management, Hofstra University
• Introduction to Finance, Financial Markets and Institutions, Hofstra University
• Fundamentals of Corporate Finance, Hofstra University
• Microeconomic Principles, Arizona State University
PRESENTATIONS
“Trust and Local Bias of Individual Investors,” with Ran Shao
2019 – Econometric Society Asian Meeting, China
2017 – Financial Management Association Annual Meeting
2017 – 8th International Research Meeting in Business and Management, France
2016 – Midwest Finance Association Annual Meeting
“Does Diversity lead to Diverse Opinion? Evidence from Languages and Stock Markets, ” with Yen-Cheng Chang, Harrison Hong, Larissa Tiedens, and Bin Zhao
2016 – Hofstra University
2016 – City University of New York-Brooklyn College
2015 – Association of Financial Economists/American Economic Association Annual Meeting
2014 – Western Finance Association Annual Meeting
2014 – European Finance Association Annual Meeting, Switzerland
2014 – Financial Management Association Annual Meeting
2014 – NBER Chinese Economy Working Group
2014 – National Chengchi University, Taiwan
2014 – China International Conference in Finance , China
2013 – Fudan University, China
2013
Shanghai Advanced Institute of Finance, China
2013 – Soochow University, China
2013
Xiamen University, China
“Sentiment and the Effectiveness of Technical Analysis: Evidence from the Hedge Fund Industry,” with David M. Smith, Ying Wang and Edward J. Zychowicz
2015 – Eastern Finance Association Annual Meeting
2015 – Southwestern Finance Association Annual Meeting
2015 – Midwest Finance Association Annual Meeting
“Trading for Status,” with Harrison Hong, Wenxi Jiang, and Bin Zhao
2014 – Hofstra University
2014 – Arizona State University
2013 – NBER Chinese Economy Working Group
2013 – New York University
2013 – University of Amsterdam, Netherland
2013 – Fudan University, China
2013 – Southern University of Finance and Economics, China
2013
Hong Kong University of Science and Technology, China
2012 – China International Conference in Finance , China
2012 – Peking University Symposium on Chinese Financial Markets, China
2012 – China Academy of Financial Research in Summer Institute of Finance, China
“Individual Investors and the Financial Crisis,” with Jarl Kallberg and Crocker Liu
2022
The 9th International Conference on Opportunities and Challenges in Management, Economics and Accounting, France
2013
Eastern Finance Association Annual Meeting
2012 – Hofstra University
2012 – Academy of Behavioral Finance & Economics
2011 – Bank of Canada, Canada
2011 – Financial Management Association Annual Meeting
2010 – Arizona State University
“Sentiment and the Performance of Technical Indicators,” with Edward J. Zychowicz
2013
Financial Management Association Annual Meeting
2013 – Midwest Finance Association Annual Meeting
“The Effects of Short-Sale Constraints and Information Asymmetry on Index Futures Trading ,” with Ahmet K. Karagozoglu
2013
Second International Conference on Futures and Derivatives Markets , China
2013 – Financial Management Association Annual Meeting
“Determining the Rank of the Beta Matrix in Linear Asset Pricing Models,” with Seung Ahn and Alex Horenstein
2013 – Northern Finance Association Annual Meeting, Canada
2012 – International Symposium on Econometric Theory and Applications, China
2012 – University of Miami
2010 – Hofstra University
2010 – Financial Management Association Annual Meeting
2010 – Eastern Finance Association Annual Meeting
2010
Midwest Finance Association Annual Meeting
2010 – Columbia University
2010
2010
Arizona State University
ITAM, Mexico
2010 – UANL, Mexico
2010
Korean Econometric Society Meeting, South Korea
2010 – Japan Association of Applied Economics Meeting, Japan
2009 – Econometrics Society 2009 Far East and South Asia Meeting, Japan
2009
Sogang University, South Korea
“Individual Investor Portfolios: Round-Trip Trades, Trading Frequency, and Performance,” with Jarl Kallberg, Crocker Liu and Adam Nowak
2012 – Eastern Finance Association Annual Meeting
“Don’t Confuse Brains with a Bull Market: Attribution Bias, Overconfidence, and Trading Behavior of Individual Investors,” with Zhen Shi
2011
All Georgia Finance Conference
2010 – European Finance Association Annual Meeting, Germany
2010
Eastern Finance Association Annual Meeting
2010 – Midwest Finance Association Annual Meeting
PROFESSIONAL ACTIVITIES
Journal Reviewer
2022 – Journal of Economics and Business
2022 – Applied Economics
2021 – Journal of Economics and Business
2020 – Applied Economics Letters
2020 – Emerging Markets Review (2 Papers)
2019
Applied Economics
2019 – Financial Innovation
2018 – Asia-Pacific Journal of Financial Studies
2017 – Journal of Banking and Finance
2017 – Journal of Business Ethics
2017 – Economics Bulletin
2015 – Journal of Empirical Finance
2014 – The Financial Review
2013 – The Financial Review
2009 – Econometric Reviews
Conference Reviewer
2022 – The China International Risk Forum (8 Papers)
2022 – Financial Regulations & Technology: Advances Since the Financial Crisis (4 Papers)
2017 – Financial Management Association Annual Meeting (6 Papers)
2017 – Financial Management Association Applied Finance Conference (3 Papers)
2015 – Eastern Finance Association Annual Meeting (7 Papers)
2013 – Northeast Decision Sciences Institute Conference
Conference Organizer
2022 – Financial Regulations & Technology: Advances Since the Financial Crisis
2017 – Financial Management Association Annual Meeting
Discussant
2022 – Financial Regulations & Technology: Advances Since the Financial Crisis
2017 – Financial Management Association Annual Meeting
2017 – 8th International Research Meeting in Business and Management, France
2016 – Midwest Finance Association Annual Meeting
2015 – Southwestern Finance Association Annual Meeting
2013 – Financial Management Association Applied Finance Conference
2013 – Eastern Finance Association Annual Meeting
2012
2010
2010
Eastern Finance Association Annual Meeting
Midwest Finance Association Annual Meeting
Eastern Finance Association Annual Meeting (2 Papers)
Session Chair
2017 – Financial Management Association Annual Meeting
2010 – Eastern Finance Association Annual Meeting
2010
Midwest Finance Association Annual Meeting
MEDIA COVERAGE
• “Your Trading Charts Work Better in Study When Markets Get Frothy,” Bloomberg Business, May 4, 2015
• “Trading for Status (Digest Summary),” CFA Digest, April 2015, Volume 45 Issue 4.
• “Sentiment and the Effectiveness of Technical Analysis: Evidence from the Hedge Fund Industry,” Barclay's Insider Report, July 2014.
SKILLS
Stata, MATLAB, Python, SAS, GAUSS, Excel, Word, LaTex, Scientific
SERVICE ACTIVITIES
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