Personal Profile

Dr. Zhaobo Zhu is a tenured Associate Professor of Finance in Shenzhen Audencia Financial Technology Institute and WeBank Institute of Fintech, Shenzhen University. Dr. Zhu obtained Ph.D. in Finance from Old Dominion University in 2016, Master of Economics from Kent State University in 2012, and MBA from Louisiana State University at Baton Rouge in 2011. He has published about 30 papers in academic journals, including Journal of Financial and Quantitative Analysis, Financial Management, Journal of Corporate Finance, Journal of Economic Dynamics and Control, Journal of Empirical Finance.

Education Experience

2012 – 2016    Ph.D. in Finance, Old Dominion University, USA                              

2011 – 2012    M.A. in Economics, Kent State University, USA                                

2009 – 2011    M.B.A., Louisiana State University at Baton Rouge, USA                        

2003 – 2007    B.A. in English, China University of Petroleum (East China)

Research Interests

Empirical Asset Pricing, Behavioral Finance, Fintech, Macro Finance

Publication：Publication：

1. Machine Forecast Disagreement in the Cryptocurrency Market

Gang Chu, Dehua Shen, Zhaobo Zhu*

Journal of Financial and Quantitative Analysis

2. Law, Politics, and Trade Credit in China

Miao, Senlin, Zhaobo Zhu*, Xiaohu Deng, and Fenghua Wen

Journal of Corporate Finance 88, October 2024, 102643.

3. Economic Policy Uncertainty and Short-Term Reversals

Zhu, Zhaobo*, and Licheng Sun

Journal of Financial Research 47 (3), Fall 2024, 877-899.

4. Oil Price Shocks and Bank Risk around the World

Jin, Yi, Pengxiang Zhai, and Zhaobo Zhu*

Energy Journal 43 (SI1), August 2022, 89-116.

─ Best Paper Award in 2021 International Conference on Energy Finance

5. Oil Price Shocks and Stock Market Anomalies

Zhu, Zhaobo*, Licheng Sun, Jun Tu, and Qiang Ji

Financial Management 51 (2), Summer 2022, 573-612.

─ Top Download Article in Wiley 2022

─ Best Paper Award in 2019 International Conference on Energy Finance

6. Price Anchors and Short-Term Reversals

Zhu, Zhaobo*, Licheng Sun, and Chris Stiver

Financial Management 50 (2), Summer 2021, 425-454.

─ Semi-Finalist for the Best Paper Award in Investments at 2018 FMA Annual Meeting

7. Limited Investor Attention, Relative Fundamental Strength, and the Cross-Section of Stock Returns

Zhu, Zhaobo*, Licheng Sun, Kenneth Yung, and Min Chen

British Accounting Review 52 (4), July 2020, 100859.

8. Momentum and Reversal: The Role of Short Selling

Zhu, Zhaobo*, Xinrui Duan, Licheng Sun, and Jun Tu

Journal of Economic Dynamics and Control 104, July 2019, 95-110.

─ Semi-Finalist for the Best Paper Award in Investments at 2017 FMA Annual Meeting in Boston

9. Fundamental Strength and Short-Term Return Reversal

Zhu, Zhaobo*, Licheng Sun, and Min Chen

Journal of Empirical Finance 52, June 2019, 22-39.

10. Relative Strength over Investment Horizons and Stock Returns

Zhu, Zhaobo*, Xinrui Duan, and Jun Tu

Journal of Portfolio Management 46 (1), November 2019, 91-105.

11. The Interaction of Short-Term Reversal and Momentum Strategies

Zhu, Zhaobo*, and Kenneth Yung

Journal of Portfolio Management 42 (4), Summer 2016, 96-107.

12. Carbon Emissions and Bank Risk around the World

Jin, Yi, Saiying Deng, Xiaoling Pu, and Zhaobo Zhu*, 2025

British Accounting Review, Forthcoming.

13. Economic Policy Uncertainty and Analyst Behaviors: Evidence from China

Chen, Min*, Jiaxin Chang, Zhaobo Zhu*, and Yuanhong Zhang, 2025

Annals of Economics and Finance, Forthcoming.

14. Managerial Myopia and Capital Structure in China

Zhu, Zhaobo, Jiaxin Chang, and Yulong Wang, 2025

Review of Quantitative Finance and Accounting 66 (2), February 2026, 635-658.  

15. Investor Sentiment, Limits to Arbitrage, and Hard-to-Value Stocks

Zhu, Zhaobo, and Dehua Shen

Review of Quantitative Finance and Accounting 65 (2), August 2025, 573-597.

16. When Buffett Meets Bollinger: An Integrated Approach to Fundamental and Technical Analysis

Zhu, Zhaobo*, and Licheng Sun

Accounting & Finance 64 (3), September 2024, 2699-2734.

17. Herding towards carbon neutrality: The role of investor attention

Shi, Guiqiang, Dehua Shen, and Zhaobo Zhu

International Review of Financial Analysis 91, January 2024, 103049.

18. Dissecting the Idiosyncratic Volatility Puzzle: A Fundamental Analysis Approach

Zhu, Zhaobo, Wenjie Ding, Yi Jin, and Dehua Shen

Research in International Business and Finance 66, October 2023, 102085.

19. A Note on Disclosure of Participation in Innovation Contests: A Dominant Result

Chen, Bo, Emilios Galariotis, Lijun Ma, Zijia Wang, Zhaobo Zhu

Annals of Operations Research 328 (2), September 2023, 1615-1629.

20. Familiarity Bias and Economic Decisions: Evidence from A Survey Experiment

Zhu, Zhaobo*, Zhenyan Qi, and Yi Jin

Economics Letters 229, August 2023, 111197.

21. Fundamental Strength and the 52-Week High Anchoring Effect

Zhu, Zhaobo, Licheng Sun, and Min Chen

Review of Quantitative Finance and Accounting 60 (4), May 2023, 1515–1542.

22. The Spillover Effect of Economic Policy Uncertainty: Evidence from Analyst Behaviors in Hong Kong

Zhu, Zhaobo, Hang Lin, Min Chen, and Peiwen Han

      Finance Research Letters 52, March 2023, 103570.

23. Economic Policy Uncertainty and Analyst Behaviors: Evidence from the United Kingdom

Chen, Min, Zhaobo Zhu*, Peiwen Han, Bo Chen, and Jia Liu

International Review of Financial Analysis 79, January 2022, 101906.

24. Earnings Momentum Meets Short-Term Return Reversal

Zhu, Zhaobo, Licheng Sun, and Jun Tu

Accounting and Finance 61, April 2021, 2379-2405.

25. Fundamental Strength Strategy: The Role of Investor Sentiment versus Limits to Arbitrage

Zhu, Zhaobo*, Licheng Sun, and Kenneth Yung

International Review of Financial Analysis 71, October 2020, 101452.

26. Oil Price Shocks, Investor Sentiment, and Stock Market Anomalies in the Oil and Gas Industry

Zhu, Zhaobo, Qiang Ji, Licheng Sun, and Pengxiang Zhai

International Review of Financial Analysis 70, July 2020, 101516.

27. Preference for Lottery Features in Real Estate Investment Trusts

Zhu, Zhaobo*, David Harrison, and Michael Seiler

International Review of Economics and Finance 69, September 2020, 599-613.

28. Macro Uncertainty, Analyst Performance, and Managerial Ability

Chen, Min, Lufei Ruan, Zhaobo Zhu*, and Fangjun Sang

Eurasian Business Review 10, September 2020, 333–353.

29. Disclosure Policies in All-pay Auctions with Bid Caps and Stochastic Entry

Chen, Bo, Lijun Ma, Zhaobo Zhu, and Yu Zhou

Economics Letters 186, January 2020, 108805.

30. The Trend in Short Selling and the Cross Section of Stock Returns

Zhu, Zhaobo, Xinrui Duan, and Jun Tu

Annals of Economics and Finance 20 (2), November 2019, 565-586.

* Corresponding author