"J" JIACUI LI
  • Home
  • Research
  • Recent discussions
I am an Assistant Professor of Finance at the David Eccles School of Business, University of Utah. I received my Ph.D. from Stanford Graduate School of Business in 2019.

Upcoming presentations:


​WFA (June 27th): Sluggish Price Reaction to Salient and Repeated Macroeconomic Releases
Asian FA (June 28th): Prices Are Less Elastic at More Aggregate Levels
​Stanford SITE (July 19th), "New Frontiers in Asset Pricing" session
NBER SI (July 21st): Attention Constraints and Financial Inclusion


My research on institutional finance shows that investor demand can explain a large fraction of asset price movements. For instance, flow-induced price pressures explain around 30% of size and value factor movements, as well as the sharp drop of momentum-related factor profits after 2002, etc. My coauthors and I also used a Morningstar 2002 methodology change to show causal evidence of demand on style-level returns. 

My "behavioral" research explores the consequences of endogenous attention allocation by agents. Endogenous investor attention allocation explains the speed at which corporate bonds respond to different shocks; loan officer attention allocation under time constraints hinders financial inclusion for disadvantaged individuals. On a "more behavioral" note, retail investors with limited attention/sophistication fail to adjust for risk when allocating capital across mutual funds and corporate bonds. 


Here is my CV. You can reach me at jiacui.li@eccles.utah.edu.



​



Picture








​Image: Llamas in Machu Picchu


Proudly powered by Weebly
  • Home
  • Research
  • Recent discussions