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GAN Jie

Phone: +86 10 8518 8858 ext. 3323
 
 

 

Professor of Finance, Director of Center on Finance and Economic Growth

 

PhD, Massachusetts Institute of Technology

 

Research Areas: banking, asset pricing, corporate finance

 

 


 

Introduction

Prof Gan Jie received her PhD from MIT. Prior to joining CKGSB, she served as a professor (with tenure) at Hong Kong University of Science and Technology and an assistant professor at Columbia Business School. Professor Gan has published extensively on banking and finance issues in top academic journals. In 2011, she was the runner-up for the prestigious Brennan Award for Excellent Papers. Prof Gan’s teaching has been rated highly by both MBA and EMBA students and she has received several teaching awards. Her research and teaching were featured in major media outlets, such as Wall Street Journal, Financial Times and the Economist.

 

Currently she conducts large-sample survey of industrial firms every quarter. The resulting Business Sentiment Index (BSI) and the unique insights generated from the survey have received worldwide attention.

 

In addition to her academic achievements, Professor Gan has extensive industry experiences. She worked for CRA International (formerly Charles River Associates), one of the largest finance and economics consulting firms in the US, for two years. Her consulting experience spans company valuation, security fraud, and anti-trust in a range of industries including financial services, consumer goods, and energy. In Hong Kong, she was consulted by banks on how to identify bubbles in the real estate market and how to incorporate real estate properties into investment portfolios.

 

Achievements

  • Runner Up, Michael J. Brennan Best Paper Award, The Review of Financial Studies, 2011.
  • Nominated for the Michael Gale Medal for Distinguished Teaching 2005, the highest honor awarded to a single faculty in the university.
  • Franklin Prize for Teaching Excellence at Hong Kong University of Science & Technology (MBA teaching 2004 and 2008); Nominated for undergraduate teaching 2003 and 2004.
  • Hong Kong RGC Competitive Earmark Research Grant, 2003 (HK$373,000), 2004 (HK$551,000), 2006 (HK$666,000); 2008 (HK$784,000).
  • Faculty Research Award, Columbia University Center for Japanese Economy and Business, 2001-2002.
  • Graduate Fellowship, Massachusetts Institute of Technology, 1993-1996, 1998-1999.
  • "Best Graduate of the Year" (equivalent to summa cum laude), Nanjing University, 1991.

Download CV

 

Selected Publications

In Refereed Journals:

  1. Banking Market Structure and Financial Stability: Evidence from the Texas Real Estate Crisis in the 1980s, Journal of Financial Economics 73, 2004, pp. 567-601.
  2. Collateral, Debt Capacity, and Corporate Investment: Evidence from a Natural Experiment, Journal of Financial Economics 85, 2007, pp. 709-734
  3. The Real Effects of Asset Market Bubbles: Loan- and Firm-Level Evidence of a Lending Channel, Review of Financial Studies 20, 2007, pp. 1941-1973.
  4. Monopoly and Information Advantage in the Market for Residential Mortgages (with Timothy Riddiough), Review of Financial Studies 21, 2008, pp. 2677-2703.
  5. A Nationwide Survey of Privatized Firms in China (with Guo and Xu), Seoul Journal of Economics 21, 2008, pp. 311-331.
  6. Housing Wealth and Consumption Growth: Evidence from a Large Panel of Households, Review of Financial Studies 23, 2010, pp. 2229-2267 (Lead article, RFS Brennan Award).
  7. Transparency, Price Informativeness, and Stock Return Synchronicity: Theory and Evidence (with Suditpo Dasgupta and Ning Gao), Journal of Financial and Quantitative Analysis, forthcoming.

Book Chapters:

  1. "Global Banking Regulation & Supervision: What Are the Issues and What Are the Practices?" (James Barth, Jie Gan, and Dan Nolle), in Focus on Financial Institutions and Services, Nova Science Publisher, 2004.
  2. "Privatization in China: Experiences and Lessons," in China's Emerging Financial Markets: Challenges and Opportunities (J. Barth, J. Tatom, and G. Yago, 2008 eds.), The Milken Institute Series on Financial Innovation and Economic Growth.

Invited Presentations and Professional Activities

Referee:

Journal of Finance, Review of Financial Studies, Journal of Financial Intermediation, Journal of Banking and Finance, Journal of Money, Credit, and Banking, Scandinavian Journal of Economics, Southern Journal of Economics, Japan and the World Economy, Journal of Japanese and International Economy, Japan and the World Economy, Pacific-Basin Journal of Finance; Journal of Real Estate Research, B.E. Journal of Economic Analysis, Economics of Transition

 

Editorial Positions:

Journal of Banking and Finance, Associate Editor, 2008-present

International Review of Finance, Associate Editor, 2008-present

Quarterly Journal of Finance, Associate Editor, 2010-present

Journal of Financial Economic Policy, Editorial Advisory Board, 2007-present

 

Seminars:

Sloan School of Management at MIT, Columbia Business School, Wharton School at University of Pennsylvania, University of Wisconsin Business School, City University of New York, Chinese University of Hong Kong, Hong Kong Polytech, Hong Kong University, HKUST, City University of Hong Kong, University of California at Berkeley; University of Texas at Austin

Federal Reserve Banks: Chicago, Cleveland, New York; Milken Institute

 

Conferences:

Presenter: Eastern Finance Association Conference 2002; NEBR Corporate Finance Summer Institute 2003; AFA 2004, 2009; Financial Intermediation Research Society Meeting 2004 & 2006; "Accounting, Transparency and Bank Stability" Workshop 2004 at Basle (jointly sponsored by BIS and JFI), WFA 2004, 2006, & 2008, EFA 2004 & 2005, China International Finance Conference 2004 & 2006, City University Finance Symposium 2005, RFS-IU Conference on the Causes and Consequences of Recent Financial Market Bubbles 2005; Summer Real Estate Symposium (2006 & 2008); Indian School of Business Summer Camp (2007); Emerging Market Corporate Finance Conference (2007); NBER China Workshop (2008)

 

Discussant: AREUE Conference (2002); WFA Conference (2002); EFA Conference (2002); Financial Intermediation Research Society Meeting (2004 & 2006); China International Conference in Finance (2005, 2008, 2009); Paris Corporate Finance Conference (2009)

 

Session Chair: Eastern Finance Association Conference (2002), China International Conference in Finance (2008, 2009).

 

Working Papers

  1. "China’s Decentralized Privatization and Change of Control Rights," with Yan Guo and Chenggang Xu. This paper was featured in the Economist, click here for the Economist article.
  2. "Poor Institutions and Private Incentives: Evidence from Dividend Policies," with Martin Wang.
  3. "Property Market Overvaluation, Toeholds, and the Winners' Curse: Evidence from Hong Kong Land Auctions", with Yuk Ying Chang and Sudipto Dasgupta.
  4. "Political Constraints, Organizational Forms, and Privatization Performance: Evidence from China", with Jianping Deng, Jie Gan and Jia He, formerly titled "Privatization, Large Shareholders' Incentives to Expropriate, and Firm Performance", Top 20 downloads in SSRN Corporate Finance, Management, and AFA Conference.
  5. "Fit, Style, and the Portability of Managerial Talent," with Candie Chang and Sudipto Dasgupta. Currently under revision, 【Abstract】 is available here.
  6. "What Do Capital Requirements Do When They Are Not Binding."

 


 

MEDIA INTERVIEWS

Forbes on Structured Products, 2009 (English)

Forbes on China A Share Market, May 21, 2009 (English)

Phoenix TV on Analysts Conflicts of Interest, Sep. 3, 2008 (Chinese)

Hong Kong Radio on Subprime Crisis (Chinese)

 


 

NON-ACADEMIC WRITINGS

My View of the Chinese Stock Market (Fall 2007) 
[English] [Chinese]
This article is based on a talk given in Beijing's Financial District on Sept. 26, 2007.

China Story and Current Market Valuation (Fall 2009) 
21 Century Herald, Oct. 2009
[English][Chinese]

今年中國經濟政策「進退兩難」(信报,2010年2月23日)
[Chinese]

确立沽空机制是优化市场运作之本 (信报,2010年4月20日)
[Chinese]