Honors Program Theses

Class of 2017

Bingqing He
Empirical Analysis of SSE 180 Index Effect on the China’s Stock Market PDF icon bingqing_he_thesis_nyush_honors_2017.pdf
Thesis Advisor: Jeffrey Wurgler

Chen Zhuang
The Impact of State Ownership on Earning Quality: A Comparison Between Private-owned Enterprises and State-owned Enterprises in China PDF icon chen_zhuang_thesis_nyush_honors_2017.pdf
Thesis Advisor: Paul Zarowin

Chenyang Mei
Trends Observed in the Chinese Peer-to-Peer Lending Market and Expected Changes on the Enactment of Regulations PDF icon chenyang_mei_thesis_nyush_honors_2017.pdf
Thesis Advisor: Theresa Kuchler

Dongning Fang
Analysis of Price-Volume Relationship In 2014-2016 Bull and Bear Markets PDF icon dongning_fang_thesis_nyush_honors_2017.pdf
Thesis Advisor: David Yermack

Fan Yang
Higher Education and Economic Growth in China PDF icon francis_yang_thesis_nyush_honors_2017.pdf
Thesis Advisor: Peter Henry 

Honghong Zhou
Art as an Investment: Risk and Return Characteristics of Chinese Contemporary Art PDF icon honghong_zhou_thesis_nyush_honors_2017.pdf
Thesis Advisor: Philipp Schnabl

Jun Cai
Security Transaction Tax and Its Impact On Trading Volume and Return Volatility: A Stock-Level Approach PDF icon jun_cai_thesis_nyush_honors_2017.pdf
Thesis Advisor: Jeffery Wurgler

Kangni Yu
Risk Identification and Risk Allocation in Greenfield Public-Private Partnerships in China PDF icon kangni_yu_thesis_nyush_honors_2017.pdf
Thesis Advisor: Ingo Walter

Kaijie Wang
Non-performing Loans and its Impacts on Systemic Risk of Commercial Banks in China PDF icon kathy_wang_thesis_nyush_honors_2017.pdf
Thesis Advisor: Matthew Richardson

Qi Lu
Impact of Margin Trading on Chinese Bitcoin Market and Its Recent Reform PDF icon qi_lu_thesis_nyush_honors_2017.pdf
Thesis Advisor: David L. Yermack

Qinmei Chen
Interpreting The Relationship Between Implied And Historical Volatility Through Sentiment AnalysisPDF icon qinmei_chen_thesis_nyush_honors_2017.pdf
Thesis Advisor: Stephen Figlewski

Shijie Yu
Theory and Evidence....Evaluating Bundle-Size Pricing with Simulation PDF icon shijie_yu_thesis_nyush_honors_2017.pdf
Thesis Advisor: Jiawei Zhang

Shuang Hu
RMB Exchange Rate and Stock Return Interactions In Chinese Financial Market: Evidence of CNY, CNH-CNY Spread and Capital Flow Change PDF icon shuang_sophie_hu_thesis_nyush_honors_2017.pdf
Thesis Advisor: Robert F. Whitelaw

Siyao Fang
Cross-listing A-Share and H-Share Stock Price Relationship Study: The Granger Causality Analysis Based on Establishment of Shanghai-Hong Kong Connect PDF icon siyao_fang_thesis_nyush_honors_2017.pdf
Thesis Advisor: Stephen Figlewski

Tiange Ye
An Empirical Study Regards the Bank Level Systemic Risk and Wealth Management Products in China PDF icon tiange_ye_thesis_nyush_honors_2017.pdf
Thesis Advisor: Viral V. Acharya

Tianshu Lyu
On Performance and Persistence of Mutual Funds in China PDF icon tianshu_lyu_thesis_nyush_honors_2017.pdf
Thesis Advisor: Jennifer N. Carpenter

Xi Yang
China’s Cross-border Mergers and Acquisitions: SOE vs. Non-SOE PDF icon xi_yang_thesis_nyush_honors_2017.pdf
Thesis Advisor: Yakov Amihud

Xiaoyu Ma
Will Financial Performance Influence CSR Disclosure? --Empirical Evidence from 422 Chinese A-listed firms PDF icon xiaoyu_ma_thesis_nyush_honors_2017.pdf
Thesis Advisor: Brian Hanssen

Yaofei Wu
Performance Analysis of Shanghai Stock Exchange iVX Index and Its Potential for Risk Management PDF icon yaofei_wu_thesis_nyush_honors_2017.pdf
Thesis Advisor: Menachem Brenner

Zhijian Xu
How Internationalization of the renminbi Contributes to Growing Spillovers from China to the Association of Southeast Asian Nations (ASEAN) Economies PDF icon zhijian_xu_thesis_nyush_honors_2017.pdf
Thesis Advisor: Paul A.Wachtel

Zihuan Zhang
Default Risk Indicator and Transition Matrix of Chinese Listed Companies PDF icon zihuan_zhang_thesis_nyush_honors_2017.pdf
Thesis Advisor: Jiawei Zhang

Class of 2018

Xinyue Chen
Risk Innovation and Acquisition: Can M&A improve innovation capacity for the Chinese Companies? PDF icon chen_xinyue_thesis_nyush_honors_2018.pdf
Thesis Advisor: Yiqing Lu

Zhenyu Chen
Research on Governmental Policies’ Effects on China’s Real Estate Market (Focusing on Zhejiang Province) File chen_zhenyu_thesis_nyush_honors_2018.docx 
Thesis Advisor: Joseph Foudy

Jiaqi Dong
Analysis of The Sharing Bike Relocation Problem: Shanghai Metro System and Mobike PDF icon dong_jiaqi_thesis_nyush_honors_2018.pdf 
Thesis Advisor: Arun Sundararajan

Yikai Feng
China Concepts Stock Volatility Analysis File feng_yikai_thesis_nyush_honors_2018.docx
Thesis Advisor: Yuxin Chen

Dian Jin
IPO Underpricing in China and Contributing Factors from the Market with Distinct Characters Analysis File dian_jin_thesis_nyush_honors_2018.docx
Thesis Advisor: Robert Whitelaw 

Zixuan Lin
Psychological Factors behind Risk-Taking Behaviors: Correlational Relations between Personality Traits and Financial Risk Tolerance PDF icon lin_zixuan_thesis_nyush_honors_2018.pdf
Thesis Advisor: Yuxin Chen 

Yujia Ni
Factors Influencing User Usage of Bike Sharing App in China File ni_yujia_thesis_nyush_honors_2018.docx
Thesis Advisor: Renyu Zhang 

Marcela Railean
Meta-ideas for Shanghai’s Future in Innovative Entrepreneurship File railean_marcela_thesis_nyush_honors_2018.docx
Thesis Advisor: Luke Williams 

Yuxin Xia
The Short-term Effect of Asset Restructuring on Listed Chinese Companies Entrepreneurship Microsoft Office document icon xia_yuxin_thesis_nyush_honors_2018.doc 
Thesis Advisor: Jennifer Carpenter 

Ying Xin
The Effect of Reputation on Performance of New vs. Established Sellers: An Empirical Study of Chinese Largest E-commerce Platform PDF icon xin_ying_thesis_nyush_honors_2018.pdf 
Thesis Advisor: Yuxin Chen

Haiqing Xu
Liquidity Effects in China’s Corporate Bond Market  Microsoft Office document icon xu_haiqing_thesis_nyush_honors_2018.doc
Thesis Advisor: Marti G. Subrahmanyam 

Tianyu Xu
Analyzing the Chinese Movie Market through A Case Study of Wolf Warrior 2 Microsoft Office document icon xu_tianyu_thesis_nyush_honors_2018.doc
Thesis Advisor: Durairaj Maheswaran

Lin (Angelina) Ye
The impact of Corporate Social Responsibility on Corporate Value: An Empirical Study of Chinese Companies’ Corporate Sustainability Disclosure and Financial Performance PDF icon ye_lin_thesis_nyush_honors_2018.pdf
Thesis Advisor: Rodrigo Zeidan

Yiyi Zhang
Mathematical Approaches to Real Time Bidding Strategy (RTB) for Advertising Campaigns for Demand Side Platforms (DSP) PDF icon zhang_yiyi_thesis_nyush_honors_2018.pdf 
Thesis Advisor: Renyu Zhang

Class of 2019

Xiao Bai
A Study on Index Fund Development and Performance in China PDF icon xiao_bai_thesis_nyush_honors_2019.pdf 
Thesis Advisor: Martin Gruber

Yijie Chen
International Tourism Consumption and Its Economic Impact on Destinations: Evidence From Chinese Outbound Tourists PDF icon yijie_chen_thesis_nyush_honors_2019.pdf
Thesis Advisor: Yiqing Lu

Minghao Chi
The Return Pattern Difference and Volatility Surface Difference of Dual-listed Chinese Company between Chinese and the U.S. Market Microsoft Office document icon minghao_chi_thesis_nyush_honors_2019.doc
Thesis Advisor: Marti Subrahmanyam

Dillon Fournier
China's Currency Market Shocks and Corporate Bond Issuance PDF icon dillon_fournier_thesis_nyush_honors_2019.pdf 
Thesis Advisor: Rodrigo Zeidan 

Tri Hoang 
Does Poverty Stifle Dreams? Parental Aspirations for Childen's Education PDF icon tri_hoang_thesis_nyush_honors_2019.pdf
Thesis Advisor: Pei Gao 

Jiachen Huang 
Measuring the Spatial Effect of Public Transportation: An Empirical Study on Rental Price and Metro Stations in Shanghai PDF icon jiachen_huang_thesis_nyush_honors_2019.pdf
Thesis Advisor: Enric Junque de Fortuny 

Chenghao Li
Examing the Influence of the Volcker Rule on Post-Crisis Credit Risk Management Conditions in the U.S. Financial Institutions PDF icon chenghao_li_thesis_nyush_honors_2019.pdf 
Thesis Advisor: Anthony Saunders

Yilun Li 
Impact of Automation on Labor Market and Income Inequality PDF icon yilun_li_thesis_nyush_honors_2019.pdf
Thesis Advisor: Boyan Jovanovic

Yitao Liu
The Effect of China-U.S. Trade Dispute and Tariffs on Soybean-Related Futures Markets PDF icon yitao_liu_thesis_nyush_honors_2019.pdf
Thesis Advisor: Menachem Brenner

Jiayun Qu
Analysis of Concert Ticket Pricing Strategy in China Online Secondary Market File jiayun_qu_thesis_nyush_honors_2019.docx
Thesis Advisor: Yuxin Chen

Yufeng Shi
Optimal Price Strategy for the Sellers in the Steam Market File yufeng_shi_thesis_nyush_honors_2019.docx
Thesis Advisor: John Lazarev 

Yanbing Wang
Analyzing Corporate Debt Sustainability in China's State-Owned Enterprises File yanbing_wang_thesis_nyush_honors_2019.docx
Thesis Advisor: Pricila Maziero

Yuxin Wu
The Effects of Soccer Betting Odds and Soccer Game Results on Public Listed Soccer Club Share Returns File yuxin_wu_thesis_nyush_honors_2019.docx
Thesis Advisor: Anthony Saunders

Yanbo Yang
Investigation of Chinese Yuan/US Dollar Exchange Rates at High Frequency File yanbo_yang_thesis_nyush_honors_2019.docx
Thesis Advisor: Joel Hasbrouck  

Kehang Zhang
The Influence of Retirement on the Living Arrangements of the Old People in China: Evidence from the CHARLS Survey Data PDF icon kehang_zhang_thesis_nyush_honors_2019.pdf
Thesis Advisor: Guodong Chen

Class of 2020

Qinfei Chen
Firm Preference and Market Reaction to Private Placement vs. Rights Offering: Evidence from China PDF icon qinfei_chen_thesis_nyush_honors_2020.pdf
Thesis Advisor: Guodong Chen 

Zhiyu Chen
A Study on Pricing Efficiency of Exchange-Traded Funds: Empirical Evidences from China File zhiyu_chen_thesis_nyush_honors_2020.docx
Thesis Advisor: Jeffery Wurgler  

Lu Guo
Systematic Trading Strategies of SSE Composite IndexFile lu_guo_thesis_nyush_honors_2020.docx 
Thesis Advisor: Vasant Dhar 

Anpu Li
A Study on China’s Online P2P Lending Platforms File anpu_li_thesis_nyush_honors_2020.docx
Thesis Advisor: Guodong Chen 

Zhuoyou Li
The A-H Premium and Its Impact On the Seasoned Equity Offerings of Dual-listed Companies PDF icon zhuoyou_li_thesis_nyush_honors_2020.pdf
Thesis Advisor: Jennifer Carpenter 

Wenyi Liu 
Intergenerational Monetary Support: for the Elderly vs. for Children Microsoft Office document icon wenyi_liu_thesis_nyush_honors_2020.doc
Thesis Advisor: Pei Gao

Ziyun Lu
Implied Volatility of SSE 50 ETF Option: Price-Volatility Relationship and Predictive Power File ziyun_lu_thesis_nyush_honors_2020.docx
Thesis Advisor: Dan Wang

Ninglu Ma
Replication of Hedge Fund Daily Return with Machine Learning File ninglu_ma_thesis_nyush_honors_2020.docx
Thesis Advisor: Yuxin Chen 

Yunjie Song
Intergenerational Wealth Mobility in South Korea: Evidence from the Korean Labor & Income Panel Study (KLIPS)File yunjie_song_thesis_nyush_honors_2020.docx
Thesis Advisor: Jess Benhabib    

Yu Xu
Decentralized Finance in China: Viable Solutions in Blockchain Infrastructures File yu_xu_thesis_nyush_honors_2020.docx 
Thesis Advisor: Yannis Bakos 

Qianchun Yuan 
The Socio-political-economic Factors Driving Deforestation in the Brazilian Amazon File qianchun_yuan_thesis_nyush_honors_2020.docx
Thesis Advisor: Rodrido Zeidan

Yue Yu
Analysis of High Frequency VIX and its Predictive Power in the Chinese Market File yue_yu_thesis_nyush_honors_2020.docx
Thesis Advisor: Menachem Brenner 

Siqi Zhang
Analyzing Performance of FinTech Companies and the Problems in FinTech Valuation File siqi_zhang_thesis_nyush_honors_2020.docx
Thesis Advisor: Ming Liao

Jiaxin Zheng 
Research for Customer Insight of Genetic Testing & Communication Strategies File jiaxin_zheng_thesis_nyush_honors_2020.docx
Thesis Advisor: Dengfeng Yan

Class of 2021

Yuezhou Cai
A New Four-Factor Model for Pricing China's Small Stocks PDF icon yuezhou_cai_thesis_nyush_honors_2021.pdf
Thesis Advisor: Jennifer Carpenter

Meichen Chen 
Operation Ceasefire: Violent Crime, Mechanism Design, and the Option Value of Change PDF icon meichen_chen_thesis_nyush_honors_2021.pdf 
Thesis Advisor: Sylvain Chassang

Isabella Malixi 
China and the Impact of COVID-19 on Asian Stock Markets PDF icon isabella_malixi_thesis_nyush_honors_2021.pdf
Thesis Advisor: Matthew Richardson

Yuejiao Qiu 
Leverage and Firm Performance: Empirical Evidence from East Asia - China, Japan, and Korea PDF icon yuejiao_qiu_thesis_nyush_honors_2021.pdf 
Thesis Advisor: Guodong Chen

Ziyi Shen
The Reaction of Stock Market Indexes to COVID-19 Infections and its Variations Across Industries PDF icon angelina_ziyi_shen_thesis_nyush_honors_2021.pdf
Thesis Advisor: Xin Zhou  

Dashan Wang 
An Empirical Study on Cryptocurrency Market in Hong Kong: Can Website Ratings Predict the Success of Initial Coin Offerings? PDF icon dashan_wang_thesis_nyush_honors_2021.pdf
Thesis Advisor: Ilaf Elard 

Huanci Wang 
Factual Evidence for Casual Classification: Treatment Effect versus Outcome Prediction File huanci_wang_thesis_nyush_honors_2021.docx 
Thesis Advisor: Foster Povost 

Xinyu Wang
Empirical Evidence for Fintech's Influence on Economic Development of China File xinyu_wang_thesis_nyush_honors_2021.docx 
Thesis Advisor: Yiqing Lu

Ziheng Wang
Synthetic Control Methods: Evaluating the Effect of the Pandemic on User Engagement of DingTalk in Hubei File ziheng_wang_thesis_nyush_honors_2021.docx
Thesis Advisor: Renyu Zhang

Yitong Xu 
Luckin Coffee: Analyst Recommendation Optimism Microsoft Office document icon yitong_xu_thesis_nyush_honors_2021.doc
Thesis Advisor: Jeffery Wurgler

Zhihao Xu 
An Unified Cross-Validatory Approach to HAC Standard Error Estimation PDF icon zhihao_tony_xu_thesis_nyush_honors_2021.pdf.pdf
Thesis Advisor: Clifford Hurvich

Like Yang  
Effectice Navigation among the Lines: Factors Influencing the Qualities of Airlines' Sustainability Disclosure File like_yang_thesis_nyush_honors_2021.docx
Thesis Advisor: Rodrigo Zeidan

Mi Zhou
Analyzing Social Media Marketing Strategies of Luxury Brands in China File mi_zhou_thesis_nyush_honors_2021.docx
Thesis Advisor: Dengfeng Yan

Xu Zhu 
Wage Change of Immigrants to the United States: A Human Capital Approach PDF icon xu_zhu_thesis_nyush_honors_2021.pdf
Thesis Advisor: William Easterly

Yifei Zou
Does Surprising Sports News Affect Stock Prices of Soccer Clubs? PDF icon yifei_zou_thesis_nyush_honors_2021.pdf 
Thesis Advisor: Johannes Stroebel

Class of 2022

Xilin Chen
Merrill Lynch Option Volatility Estimate Index and Short-Term Yield Curve Analysis: Empirical Evidence File xilin_chen_thesis_nyush_honors_2022.docx
Thesis Advisor: Menachem Brenner

Qinci Li 
What Gets Unveiled, What Gets Managed: Reassessing Incentives for Companies to Disclose Carbon Emission Data File qinci_li_thesis_nyush_honors_2022.docx
Thesis Advisor: Kose John

Yuxuan Li 
Event Study: The Effect of “Double Reduction” Policy on Chinese Education Stocks File yuxuan_li_thesis_nyush_honors_2022.docx
Thesis Advisor: Yuxin Chen

Sachi Shetty 
Internet’s Effect on Healthcare Consumption File sachi_shetty_thesis_nyush_honors_2022.docx
Thesis Advisor: Sherry Glied

Micah Snow
The Effect of Environmental Regulation on Financial Performance of Chinese SOEs File micah_snow_thesis_nyush_honors_2022.docx
Thesis Advisor: Jeffrey Wurgler 

Jingzhi Xu
The Impact of Corruption on the Extensive and Intensive Margins of the Foreign Direct Investment File jingzhi_xu_thesis_nyush_honors_2022.docx
Thesis Advisor: William Easterly

Ke Xu 
Empirical Study on the Optimized Currency Basket for Aircraft Transaction Based on the Special Drawing Rights File ke_xu_thesis_nyush_honors_2022.docx
Thesis Advisor: David Yu

Wenyu Xu
Is the Industry Index Fund Telling the Truth? — A Study on the Aging Industry Stock Index in China File wenyu_xu_thesis_nyush_honors_2022.docx
Thesis Advisor: Matthew Richardson

Yihan Xu
Bilateral Trade in Services: Data Analysis for Countries with Heterogeneous Cultural Attributes PDF icon yihan_xu_thesis_nyush_honors_2022.pdf
Thesis Advisor: Lawrence J. White  

Yuxuan Wang 
Investigating the Regional Differences in the Chinese Birth Rate during Population Policy Transitions File yuxuan_wang_thesis_nyush_honors_2022.docx
Thesis Advisor: Simon Bowmaker

Ling'er Zhang  
The Impact of Perceived Probability & Entertainment Utility in the Chinese Blind Box Economy File linger_zhang_thesis_nyush_honors.docx
Thesis Advisor: Ye (Wendy) Jin 

Xuyou Zhang
Leverage Effects in Stock Return Volatility: A China – US Comparison PDF icon xuyou_zhang_thesis_nyush_honors_2022.pdf
Thesis Advisor: Jennifer Carpenter

Yanru Zhu 
Sustainable Transformation of Traditional Chinese Music Industry File yanru_zhu_thesis_nyush_honors_2022.docx
Thesis Advisor: Adam Brandenburger

Class of 2023

Yanqi Chen
Weakness and Instability of Stablecoin Exposed by Market Turmoil from 2022 to 2023: Case Study Analysis File yanqi_chen_thesis_nyush_honors_2023.docx
Thesis Advisor: David L. Yermack

Yumeng (Skyler) Chen 
“Shhh! It’s Decision Time”: Effect of Traffic Noise on Intertemporal Decision-Making PDF icon yumeng_chen_thesis_nyush_honors_2023.pdf
Thesis Advisor: Ye (Wendy) Jin

Boning (Bernice) Feng 
The Conditional Breakdown Properties of LAD-LASSO Regression PDF icon boning_feng_thesis_nyush_honors_2023.pdf
Thesis Advisor: Avi Giloni, Jeff Simonoff

Xiaoyi Guan 
Simplistic Design on Sustainable Products: How the Simplistic Design of an Eco-friendly Bag is Related to Its Prices, Sales, and Revenue PDF icon xiaoyi _guan_thesis_nyush_honors_2023.pdf
Thesis Advisor: Yuxin Chen

Zhiyu Guo
Impact of Covid-19 on Stock Market: A study between US and China File zhiyu_guo_thesis_nyush_honors_2023.docx
Thesis Advisor: Xin Zhou  

Shiyi (Dennis) Hu
Competitive Balance and Sports Dynasties PDF icon shiyi_hu_thesis_nyush_honors_2023.pdf
Thesis Advisor: Simon Bowmaker 

Pinyi Li 
Comparisons of Market Crash Risks Between SARS and Covid-19 in China PDF icon pinyi_li_thesis_nyush_honors_2023.pdf
Thesis Advisor: Jeffery Wurgler

Shan Lu
How Attachment Affects Economic Decision-making: Efficiency, Cooperation, and Initiative to Negotiate in a Centipede Context PDF icon shan_lu_thesis_nyush_honors_2023.pdf
Thesis Advisor: Adam Brandenburger

Xin Lyu
Stepping into the Post-Covid Era: What’s Next? An Industry Analysis of Chinese Pre-Made Food Industry File xin_lyu_thesis_nyush_honors_2023.docx
Thesis Advisor: Jiawei Zhang   

Chengcheng Peng 
Comparative analysis of global SME boards, taking the Nigerian Growth Board as the lens File chengcheng_peng_thesis_nyush_honors_2023.docx
Thesis Advisor: Guodong Chen

Hao Shen 
Corporate Financial Misconduct Spillover Effect and Geographic Concentration PDF icon hao_shen_thesis_nyush_honors_2023.pdf
Thesis Advisor: Chen Li 

Yitao (Wendy) Shi 
A case study of Hefei’s government guidance fund: The driving force of Hefei’s economic miracle File wendy_shi_thesis_nyush_honors_2023.doc.docx
Thesis Advisor: Sabrina Howell

Muyang Zhang 
Transportation Costs of International Trade in COVID-19 File muyang_zhang_thesis_nyush_honors_2023.docx
Thesis Advisor: Lawrence White 

Ruike Zhang 
Allocation of Social Transfers: Evidence from School Feeding in Ghana File ruike_zhang_thesis_nyush_honors_2023.docx
Thesis Advisor: Torsten Walter

Yimeng Zhang
ESG-Based Market Risk Prediction and Management Using Machine Learning and Natural Language Processing PDF icon yimeng_zhang_thesis_nyush_honors_2023.pdf
Thesis Advisor: Ming Liao