Wei Jiang
Adjunct Professor of Business
Finance
BA, Fudan University, 1989; MA, University of Chicago, 1997; PhD, 2001
Joined CBS in 2001
Office:
1185B
Kravis
E-mail:
[email protected]
Fax:
212-662-8474
Personal Website
Curriculum Vitae
Biography
Wei Jiang is Arthur F. Burns Professor of Free and Competitive Enterprise in the Finance Division at Columbia Business School. She is also a Scholar-in-Residence at Columbia Law School, a Senior Fellow at the Program on Corporate Governance at Harvard Law School, and a Research Associate of the NBER—Law and Economics. Professor Jiang received her B.A. and M.A. in international economics from Fudan University (China), and Ph.D. in economics from the University of Chicago in 2001 after which she joined Columbia Business School. She was an investment banking associate at Prudential Securities (Shanghai) before pursuing her Ph.D. degree.
Professor Jiang is a leading scholar in corporate governance; in particular, she pioneered research in hedge fund activism. She has published extensively in top economics, finance, and law journals, and her research has been frequently featured in major media, including the Wall Street Journal, Economist, Institutional Investors, Money, Fortune, Business Week, New York Times and Financial Times. She received numerous awards for research excellence, including the Smith-Breeden Distinguished Paper Prize from the Journal of Finance and the Michael J. Brennan Best Paper Award from the Review of Financial Studies, as well as the best paper prizes from the Western Finance Association, Chicago Quantitative Alliance, UK Inquire, the Q-Group, and the IRRC Institute. She is currently an associate editor at the Journal of Finance and served on the editorial boards of Review of Financial Studies. Previously she was a Finance Department Editor at Management Science.
Professor Jiang previously served as Vice Dean (for Curriculum and Instruction) at Columbia Business School. Professor Jiang has taught courses in Corporate Finance, Corporate Governance, Activist Investing, Empirical Methods in Finance Research, and Panel Data Econometrics in the Master, MBA/EMBA, and Ph.D. programs, and has received numerous teaching excellence awards.
Teaching
Spring 2022
Shareholder Activism as Value Investing
(MBA)
Fall 2021
Spring 2019
NYC Immersion Seminar: Activist Investing
(MBA)
(PhD) Financial Econometrics: Panel Data
(PHD)
Summer 2019
Spring 2018
(PhD) Financial Econometrics: Panel Data
(PHD)
Summer 2018
Columbia Caseworks cases
Beyond Meat (2019): “Eat What You Love”
(2021)
Coauthor(s): Wei Jiang
Evaluating Operating and Financial Performance: Huawei and Peers in 2019
(2021)
Coauthor(s): Wei Jiang
Reclassification at Facebook (2016-2017)
(2018)
Coauthor(s): Wei Jiang, Kerry Yang
The Alibaba Partnership: Illustrating the Costs of Separating Ownership and Control
(2017)
Coauthor(s): Wei Jiang, Guochao Yang
Microsoft’s Attempt to Acquire Yahoo: A Case in Letters
(2012)
Coauthor(s): Wei Jiang
Research
Journal articles
How Does Hedge Fund Activism Reshape Corporate Innovation?
In Journal of Financial Economics
(2018)
Coauthor(s): Alon Brav, Wei Jiang, Song Ma, Xuan Tian
Out-of-the-Money CEOs: Private Control Premium and Option Exercises
In The Review of Financial Studies
(2016)
Coauthor(s): Wei Jiang, Vyacheslav Fos
Reputation Concerns of Independent Directors: Evidence from Individual Director Voting
In Review of Financial Studies
(2016)
Coauthor(s): Wei Jiang, Hualin Wan, Shan Zhao
Recent Advances in Research on Hedge Fund Activism: Value Creation and Identification
In Annual Review of Financial Economics
(2015)
Coauthor(s): Alon Brav, Wei Jiang, Hyunseob Kim
The Real Effects of Hedge Fund Activism: Productivity, Asset Allocation, and Labor Outcomes
In Review of Financial Studies
(2015)
Coauthor(s): Alon Brav, Wei Jiang, Hyunseob Kim
The Long-Term Effects of Hedge Fund Activism
In Columbia Law Review
(2015)
Coauthor(s): Lucian Bebchuk, Alon Brav, Wei Jiang
Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage
In American Economic Review
(2015)
Coauthor(s): Alex Edmans, Itay Goldstein, Wei Jiang
Liar's Loan? Effects of Origination Channel and Information Falsification on Mortgage Delinquency
In The Review of Economics and Statistics
(2014)
Coauthor(s): Wei Jiang, Ashlyn Aiko Nelson, Edward Vytlacil
Securitization and Loan Performance: Ex Ante and Ex Post Relations in the Mortgage Market
In Review of Financial Studies
(2014)
Coauthor(s): Wei Jiang, Ashlyn Aiko Nelson, Edward Vytlacil
Inferring Reporting-Related Biases in Hedge Fund Databases from Hedge Fund Equity Holdings
In Management Science
(2013)
Coauthor(s): Vikas Agarwal, Vyacheslav Fos, Wei Jiang
Uncovering Hedge Fund Skill from the Portfolio Holdings They Hide
In The Journal of Finance
(2013)
Coauthor(s): Vikas Agarwal, Wei Jiang, Yuehua Tang, Baozhong Yang
Delinquency model predictive power among low-documentation loans
In Economics Letters
(2013)
Coauthor(s): Wei Jiang, Ashlyn Aiko Nelson, Edward Vytlacil
Pre-Disclosure Accumulations by Activist Investors: Evidence and Policy
In The Journal of Corporation Law
(2013)
Coauthor(s): Lucian Bebchuk, Alon Brav, Robert Jackson, Jr., Wei Jiang
Hedge Funds and Chapter 11
In The Journal of Finance
(2012)
Coauthor(s): Wei Jiang, Kai Li, Wei Wang
The Real Effects of Financial Markets: The Impact of Prices on Takeovers
In Journal of Finance
(2012)
Coauthor(s): Alex Edmans, Itay Goldstein, Wei Jiang
Activist arbitrage: A study of open-ending attempts of closed-end funds
In Journal of Financial Economics
(2010)
Coauthor(s): Michael Bradley, Alon Brav, Itay Goldstein, Wei Jiang
Hedge Fund Activism: A Review
In Foundations and Trends in Finance
(2010)
Coauthor(s): Alon Brav, Wei Jiang, Hyunseob Kim
Payoff Complementarities and Financial Fragility: Evidence from Mutual Fund Outflows
In Journal of Financial Economics
(2010)
Coauthor(s): Qi Chen, Itay Goldstein, Wei Jiang
When Shareholders Are Creditors: Effects of the Simultaneous Holding of Equity and Debt by Non-commercial Banking Institutions
In The Review of Financial Studies
(2010)
Coauthor(s): Wei Jiang, Kai Li, Pei Shao
Directors' Ownership in the U.S. Mutual Fund Industry
In Journal of Finance
(2008)
Coauthor(s): Qi Chen, Itay Goldstein, Wei Jiang
Hedge Fund Activism, Corporate Governance, and Firm Performance
In Journal of Finance
(2008)
Coauthor(s): Alon Brav, Wei Jiang, Frank Partnoy, Randall Thomas
The Returns to Hedge Fund Activism
In Financial Analyst Journal
(2008)
Coauthor(s): Alon Brav, Wei Jiang, Frank Partnoy, Randall Thomas
Price Informativeness and Investment Sensitivity to Stock Price
In Review of Financial Studies
(2007)
Coauthor(s): Qi Chen, Itay Goldstein, Wei Jiang
Defined Contribution Pension Plans: Determinants of Participation and Contribution Rates
In Journal of Financial Services Research
(2007)
Coauthor(s): Gur Huberman, Sheena Iyengar, Wei Jiang
Offering Versus Choice by 401(k) Plan Participants: Equity Exposure and Number of Funds
In Journal of Finance
(2006)
Coauthor(s): Wei Jiang, Gur Huberman
A nonparametric approach to measuring and testing curvature
In Journal of Business and Economic Statistics
(2005)
Coauthor(s): Jason Abrevaya, Wei Jiang
Analysts' Weighting of Private and Public Information
In Review of Financial Studies
(2005)
Coauthor(s): Wei Jiang, Qi Chen
Investor Learning About Analysts Ability
In Journal of Accounting and Economics
(2005)
Coauthor(s): Wei Jiang, Qi Chen, Jennifer Francis
Positive hurdle rates without asymmetric information
In Finance Research Letters
(2004)
Coauthor(s): Qi Chen, Wei Jiang
Chapters
Hedge Fund Activism
In Research Handbook on Hedge Funds, Private Equity and Alternative Investments
(2012)
Coauthor(s): Alon Brav, Wei Jiang, Hyunseob Lim
Working papers
Influencing Control: Jawboning in Risk Arbitrage
(2016)
Coauthor(s): Wei Jiang, Tao Li, Danqing Mei
Mutual Fund Holdings of Credit Default Swaps: Liquidity, Yield, and Risk Taking
(2016)
Coauthor(s): Wei Jiang, Zhongyan Zhu
CoCo Bonds Issuance and Bank Funding Costs: An Empirical Analysis
(2016)
Coauthor(s): Stefan Avdjiev, Bilyana Bogdanova, Patrick Bolton, Wei Jiang, Anastasia Kartasheva
Dancing with the Activists
(2016)
Coauthor(s): Lucian Bebchuk, Alon Brav, Wei Jiang, Thomas Keusch
How Quickly Do Markets Learn? Private Information Dissemination in a Natural Experiment
(2015)
Coauthor(s): Robert Jackson, Jr., Wei Jiang, Joshua Mitts
Ideas and Insights
In The Media
Board Tenures Stifle Path to Gender Diversity
Sweet-Talking CEOs Are Starting to Outsmart the Robot Analysts
Investors Can Think Long-Term but Managers Are a Harder Case
Tech IPOs with Dual-Class Shares Start to Face Meaningful Pushback
Lyft IPO Reignites Debate over Controversial Dual-Class Shares