Neng Wang
Chong Khoon Lin Professor of Real Estate
Finance
Chong Khoon Lin Professor of Real Estate
The Paul Milstein Center for Real Estate
BS, Nanjing University; MS, California Institute of Technology; MA, UC San Diego; PhD, Stanford, 2002
Joined CBS in 2004
Office:
1102
Kravis
Phone:
212-854-3869
E-mail:
[email protected]
Fax:
212-662-8474
Personal Website
Curriculum Vitae
Biography
Neng Wang is Chong Khoon Lin Professor of Real Estate and Finance at Columbia Business School. He is also a Research Associate at the National Bureau of Economic Research (NBER), a Senior Research Fellow at Asian Bureau of Financial and Economics Research (ABFER), and an Academic Member of the Luohan Academy. He has widely published in leading economics, finance, and business journals. Among other awards and honors, he won a Smith-Breeden Distinguished Paper Prize awarded by the Journal of Finance, and the Bettis Distinguished Scholar Award from Carey School of Business, Arizona State University. He is an Associate Editor at the Journal of Finance and was an Editor in the Finance area at the Management Science.
His research interests include corporate finance, macroeconomics, contract theory, financial institutions, asset pricing, asset allocation, sovereign debt and international finance, risk management, entrepreneurial finance, household finance, wealth distribution, private equity, hedge funds, investor protection, real estate finance, FinTech, and the Chinese economy. He has taught courses at both MBA and PhD levels including advanced corporate finance, entrepreneurial finance and private equity, fixed income securities and markets, financial institutions, risk management, real estate finance, corporate finance theory, and continuous-time finance.
He received B.S. in Physical Chemistry from Nanjing University, China in 1992, M.S. in Chemistry from California Institute of Technology (Caltech) in 1995, M.A. in International Relations from the University of California, San Diego (UCSD) in 1997, and Ph.D. in Finance from the Graduate School of Business at Stanford University in 2002. He was born in 1973 in Anhui, China.
Teaching
Spring 2022
Advanced Corporate Finance
(EMBA)
Fall 2021
(PhD) Models & Methods of Continuous Time Finance
(PHD)
(PhD) Corporate Finance Theory
(PHD)
Fall 2020
(PhD) Models & Methods of Continuous Time Finance
(PHD)
(PhD) Corporate Finance Theory
(PHD)
Spring 2019
(PhD) Models & Methods of Continuous Time Finance
(PHD)
(PhD) Corporate Finance Theory
(PHD)
Fall 2019
(PhD) Models & Methods of Continuous Time Finance
(PHD)
(PhD) Corporate Finance Theory
(PHD)
Corporate Theory
(PHD)
Spring 2018
Advanced Corporate Finance
(MBA)
(PhD) Models & Methods of Continuous Time Finance
(PHD)
Research
Journal articles
Liquidity and Risk Management: Coordinating Investment and Compensation Policies
In Journal of Finance
(forthcoming)
Coauthor(s): Patrick Bolton, Neng Wang, Jinqiang Yang
Investment, Tobin's q, and interest rates
In Journal of Financial Economics
(forthcoming)
Coauthor(s): Xiaoji Lin, Chong Wang, Neng Wang, Jinqiang Yang
Rare Disasters, Financial Development, and Sovereign Debt
In Journal of Finance
(forthcoming)
Coauthor(s): Sergio Rebelo, Neng Wang, Jinqiang Yang
Investment under Uncertainty and the Value of Real and Financial Flexibility
In Journal of Economic Theory
(2019)
Coauthor(s): Patrick Bolton, Neng Wang, Jinqiang Yang
Optimal consumption and savings with stochastic income and recursive utility
In Journal of Economic Theory
(2016)
Coauthor(s): Chong Wang, Neng Wang, Jinqiang Yang
Dynamic Investment, Capital Structure, and Debt Overhang
In Review of Corporate Finance Studies
(2015)
Coauthor(s): M. Suresh Sundaresan, Neng Wang, Jinqiang Yang
The Economic and Policy Consequences of Catastrophes
In American Economic Journal: Economic Policy
(2013)
Coauthor(s): Robert Pindyck, Neng Wang
The Economics of Hedge Funds
In Journal of Financial Economics
(2013)
Coauthor(s): Yingcong Lan, Neng Wang, Jinqiang Yang
Market Timing, Investment, and Risk Management
In Journal of Financial Economics
(2013)
Coauthor(s): Patrick Bolton, Hui Chen, Neng Wang
Dynamic agency and the q theory of investment
In Journal of Finance
(2012)
Coauthor(s): Peter DeMarzo, Mike Fishman, Zhiguo He, Neng Wang
A Unified Model of Entrepreneurship Dynamics
In Journal of Financial Economics
(2012)
Coauthor(s): Chong Wang, Neng Wang, Jinqiang Yang
A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management
In Journal of Finance
(2011)
Coauthor(s): Patrick Bolton, Hui Chen, Neng Wang
Risk, Uncertainty, and Option Exercise
In Journal of Economic Dynamics & Control
(2011)
Coauthor(s): Neng Wang, Jianjun Miao
Entrepreneurial finance and non-diversifiable risk
In Review of Financial Studies
(2010)
Coauthor(s): Hui Chen, Jianjun Miao, Neng Wang
Capital reallocation and growth
In American Economic Review: Papers and Proceedings
(2009)
Coauthor(s): Janice Eberly, Neng Wang
Optimal Consumption and Asset Allocation with Unknown Income Growth
In Journal of Monetary Economics
(2009)
Coauthor(s): Neng Wang
Agency Conflicts, Investment, and Asset Pricing
In Journal of Finance
(2008)
Coauthor(s): Neng Wang, Rui Albuquerque
An Equilibrium Model of Wealth Distribution
In Journal of Monetary Economics
(2007)
Coauthor(s): Neng Wang
Investment Under Uncertainty and Time-Inconsistent Preferences
In Journal of Financial Economics
(2007)
Coauthor(s): Neng Wang, Steven Grenadier
Investment Under Uncertainty with Strategic Debt Service
In American Economic Review Papers and Proceedings
(2007)
Coauthor(s): Neng Wang, M. Suresh Sundaresan
Investment, Consumption, and Hedging Under Incomplete Markets
In Journal of Financial Economics
(2007)
Coauthor(s): Neng Wang, Jianjun Miao
Generalizing the Permanent-Income Hypothesis: Revisiting Friedman's Conjecture on Consumption
In Journal of Monetary Economics
(2006)
Coauthor(s): Neng Wang
Investment Timing, Agency, and Information
In Journal of Financial Economics
(2005)
Coauthor(s): Steven Grenadier, Neng Wang
Precautionary Saving and Partially Observed Income
In Journal of Monetary Economics
(2004)
Coauthor(s): Neng Wang
Caballero Meets Bewley: The Permanent-Income Hypothesis in General Equilibrium
In American Economic Review
(2003)
Coauthor(s): Neng Wang
Robust Permanent Income and Pricing with Filtering
In Macroeconomic Dynamics
(2002)
Coauthor(s): Lars Hansen, Thomas Sargent, Neng Wang
Working papers
Dynamic Banking and the Value of Deposits
(2021)
Coauthor(s): Patrick Bolton, Ye Li, Neng Wang, Jinqiang Yang
Leverage Dynamics under Costly Equity Issuance
(2021)
Coauthor(s): Patrick Bolton, Jinqiang Yang, Neng Wang
Token-based Platform Finance
(2021)
Coauthor(s): Lin Cong, Ye Li, Neng Wang
Robust Financial Contracting and Investment
(2021)
Coauthor(s): Aifan Ling, Jianjun Miao, Neng Wang
Debt, Taxes, and Liquidity
In esearch Paper No. 14-17
(2014)
Coauthor(s): Patrick Bolton, Hui Chen, Neng Wang
Investment, Liquidity, and Financing under Uncertainty
(2013)
Coauthor(s): Patrick Bolton, Neng Wang, Jinqiang Yang
Valuing Private Equity
(2013)
Coauthor(s): Neng Wang, Jinqiang Yang
Reallocating and pricing illiquid capital: Two productive trees
(2010)
Coauthor(s): Janice Eberly, Neng Wang
Entrepreneurial Finance and Nondiversifiable Risk
(2009)
Coauthor(s): Hui Chen, Jianjun Miao, Neng Wang
Financing real options
(2008)
Coauthor(s): M. Suresh Sundaresan, Neng Wang
Recurrent Investment Opportunities: Real Options with Illiquid Projects
(2007)
Coauthor(s): Steven Grenadier, Neng Wang
Experimentation under Uninsurable Idiosyncratic Risk: An Application to Entrepreneurial Survival
(2007)
Coauthor(s): Neng Wang, Jianjun Miao
Investor Protection, Diversification, Investment, and Tobin's q
(2006)
Coauthor(s): Yingcong Lan, Neng Wang, Jinqiang Yang