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Business School Central University of Finance and Economics

Associate Professor

Corporate Finance, Investor Behavior, and Empirical Asset Pricing

Profile

Zhennan Gao is an Associate Professor at the Business School, Central University of Finance and Economics. Her main research areas include corporate finance, investor behavior, and empirical asset pricing. She has published academic papers in leading journals including Financial Management, Journal of Portfolio Management, and China Economic Quarterly. Her work received the Top Paper in Financial Management award. She is the principal investigator of a National Natural Science Foundation Youth Project and has participated in two National Natural Science Foundation General Projects.

Contact

Address
Business School, Central University of Finance and Economics
No. 39 Xueyuan South Road, Haidian District, Beijing 100081, China
Website
www.zngao.com

Education

  • 2012-2016 B.A. in Applied Economics, Central University of Finance and Economics
  • 2016-2021 Ph.D. in Finance, Peking University
  • 2019.7-2020.1 Visiting Scholar, University of Southern California

Work Experience

  • 2021.7-2025.12 Assistant Professor, Business School, Central University of Finance and Economics
  • 2025.12-Present Associate Professor, Business School, Central University of Finance and Economics

Main Research Areas

  • Corporate Finance
  • Investor Behavior
  • Empirical Asset Pricing

Publications

  1. Gao, Z., Pang, S., Wang, H., & Zhou, Y. (2026). Minimum wage policy uncertainty and bond credit spreads: Evidence from China. Pacific-Basin Finance Journal, 98, 103160.
  2. 高震男，魏旭，张学勇（2023）. 供应商集中度与股价崩盘风险：理论分析与中国实证. 经济学（季刊）, 5, 1991-2008.
  3. Zhou, Y., Wang, Y., & Gao, Z. (2022). Effects of market liquidity on price dynamics in a heterogeneous belief model. Applied Economics, 1-18.
  4. Chen, R., Gao, Z., & Zhang, X. (2019). Return Predictability: Evidence from the US-China Supply Chain. Journal of Portfolio Management, 45(4), 143-151.
  5. 高震男，王一鸣，刘俊玮（2019）. 融资结构对经济增长和条件收敛的影响. 上海经济研究, 2019(10), 95-108.
  6. Chen, R., Gao, Z., Zhang, X., & Zhu, M. (2018). Mutual fund managers' prior work experience and their investment skill. Financial Management, 47(1), 3-24. Top Paper in Financial Management

Research Projects

National Natural Science Foundation Youth Project: The impact of the restructuring of global supply chain on enterprises and countermeasures.

Courses

Undergraduate: Management, Investment, Financial Management

Graduate: Industry Analysis, Security Investment, Research Methods and Thesis Writing in Management

Honors and Awards

  • Top Paper in Financial Management (2018)
  • Outstanding Graduate of Peking University (2021)
  • Outstanding Graduate of Beijing (2021)
  • Peking University President's Scholarship (2018, 2019)
  • Peking University Three Good Student Award (2019)
  • National Scholarship (2017)
  • Peking University Model Three Good Student (2017)
  • Outstanding Graduate of Beijing (2016)
  • National Scholarship (2013)