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Han, Bing

Professor of Finance
University of Toronto


Educational Background

Ph.D. in Finance, Anderson Graduate School of Management, UCLA


Professor Han has previously taught both undergraduate and graduate courses at the University of Chicago and Ohio State University. He has also worked for J.P. Morgan.

Honors / Achievements

2011 Spangler IQAM Best Paper Prize for the best papers published in the Review of Finance.

Short BIO

Han Bing’s research focuses on Investments and Behavioral Finance. He has published in top finance and economics journals including Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Review of Economic Studies, Journal of Financial and Quantitative Analysis, Journal of Economic Theory, as well as practitioner oriented journals including Journal of Investment Management., Journal of Portfolio Management. His research has been presented at many international and national conferences, and featured in media such as New York Times and Wall Street Journal.


  • Cross-section of Option Returns and Idiosyncratic Stock Volatility (with Jie Cao). Forthcoming at Journal of Financial Economics.

    Prospect Theory, Mental Accounting and Momentum (with Mark Grinblatt). Journal of Financial Economics, 2005, Vol. 78, pp. 311-333.

    Insider Ownership and Firm Performance: Evidence from Real Estate Investment Trusts. Journal of Real Estate Finance and Economics, 2006, Vol. 32, pp. 471-493.

    Stochastic Volatilities and Correlations of Bond Yields. Journal of Finance, 2007, Vol. 62pp. 1491-1524.

    The U.S. Treasury Buyback Auctions: The Cost of Retiring Illiquid Bonds (with Craig Merrill and Francis Longstaff). Journal of Finance,2007, Vol. 62, pp. 2673-2693.

    Investor Sentiment and Option Prices. Review of Financial Studies, 2008, Vol. 21, pp. 387-414.

    Promotion Tournaments and Capital Rationing (with David Hirshleifer and John Persons). Review of Financial Studies, 2009, Vol. 22, pp. 219-255.

    Forecast Accuracy Uncertainty and Momentum (with Dong Hong and Mitch Warachka). Management Science, 2009, Vol. 55, pp. 1035-1046.

    Thinking about Indexes, and “Passive” versus Active Management (with Russell J. Fuller and Yining Tung). Journal of Portfolio Management, Summer 2010, Vol 36, No. 4, pp. 35-47.

    Fear of the Unknown: Familiarity and Economic Decisions (with H. Henry Cao, David Hirshleifer, and Harold Zhang). Review of Finance, 2011, Vol. 15 (1), pp. 173-206.

    Investor Overconfidence and the Forward Discount Puzzle (with Craig Burnside, David Hirshleifer and Tracy Wang). Review of Economic Studies, 2011, Vol. 78 (2), pp. 523-558.

    Taking the Road Less Travelled: Does Conversation Eradicate Pernicious Cascades? (with H. Henry Cao and David Hirshleifer).Journal of Economic Theory, 2011, Vol. 146 (4), pp. 1418-1436.

    Estimating the Impact of Ex Post Mis-pricing in Various Sectors of Equity Markets (with Russell J. Fuller and Yining Tung). Forthcoming at Journal of Investment Management.

    Speculative Retail Trading and Asset Prices (with Alok Kumar). Accepted at Journal of Quantative and Financial Analysis.