Youchang Wu


Associate Professor of Finance

Lundquist College of Business

University of Oregon

1208 University Street

Eugene, OR97403

Phone: (541)-3465126


My SSRN page

My Google Scholar page


Curriculum Vitae

Research Interests

Mutual Fund, Hedge Fund, Financial Adviser, Corporate Investment, Capital Structure, Production Network, Stock Return


Youchang Wu, Russ Wermers, and Josef Zechner, 2016, Managerial Rents vs. Shareholder Value in Delegated Portfolio Management: The Case of Closed-End Funds, Review of Financial Studies, vol. 29, no.12, 3428-3470.

A short summary of the paper on Harvard Law Review Forum on Corporate Governance and Financial Regulation.


David P. Brown and Youchang Wu, 2016, Mutual Fund Flows and Cross-Fund Learning Within Families, Journal of Finance, vol. 71, no.1, 383-424. Internet Appendix


Thomas Dangl and Youchang Wu, 2016, Corporate Investment over the Business Cycle, Review of Finance, vol. 20, no.1, 337-371.


Neal Stoughton, Youchang Wu, and Josef Zechner, 2011, Intermediated Investment Management, Journal of Finance, vol. 66, no. 3, 947-980. Internet appendix


Thomas Dangl, Youchang Wu, and Josef Zechner, Market Discipline and Internal Governance in the Mutual Fund Industry, Review of Financial Studies, 2008, vol. 21, no. 5, 2307-2343.

Working Papers

Michael Gofman, Gill Segal, and Youchang Wu, 2018, Production Networks and Stock Returns: The Role of Vertical Creative Destruction. Revise & Resubmit, Review of Financial Studies.

Selected Conferences: NBER Asset Pricing Program Meeting, UBC Winter Finance Conference, SFS Finance Cavalcade, CAPR Workshop on Investment- and Production-Based Asset Pricing, CIFFP, IDC Summer Conference, EFA, UT Dallas Fall Finance Conference, AFA, Jackson Hole Finance Conference.


Oliver Levine and Youchang Wu, 2018, Asset Volatility and Capital Structure: Evidence from Corporate Mergers. 2nd Revise & resubmit, Management Science.

Selected Conferences: CICF, NFA, MFA, Workshop on Dynamic Corporate Policies and Asset Prices, Pacific Northwest Finance Conference, Finance Down Under Conference.


Liang Ma, Antonio Mello, and Youchang Wu, 2018, First Mover Advantage, Time to Finance, and Cash Holdings.

Selected Conferences: EFA, SFS Finance Cavalcade, Entrepreneurial Finance and Innovation Conference, FIRS, CICF.


Nadia Vozlyublennaia and Youchang Wu, 2018, Mutual Funds Apart from the Crowd.

Selected Conferences: CICF, MFA.


Prachi Deuskar, Jay Wang, Youchang Wu, and Quoc Nguyen, 2012, The Dynamics of Hedge Fund Fees.

Selected Conferences: FIRS, CICF.


Russ Wermers, Youchang Wu, and Josef Zechner, 2008, Portfolio Performance, Discount Dynamics, and the Turnover of Closed-End Fund Managers.

Selected Conferences: AFA, WFA, EFA, CICF.


Rong Cui and Youchang Wu, 2007, Disentangling Liquidity and Size Effects in Stock Returns: Evidence from China.

Selected Conferences: CICF, EFMA.


Derivative Securities (Undergraduate & MBA)

Advanced Derivative Securities (Quantitative Master of Finance)


Asset Pricing Seminar I (PhD)


Corporate Finance Seminar II (PhD)


My Money and Banking textbook (in Chinese): coauthored with Gang Yi, published by Shanghai People's Publishing House in 1999. While some updates are long overdue, the book is still regularly reprinted by the publisher (recently by Truth & Wisdom Press and Shanghai People's Publishing House). According to China's largest online bookstore, it is still a popular textbook on money and banking in China (link).


University of Oregon Summer Finance Conference


Eugene Table Tennis Club