I am a Ph.D. candidate in Finance and Economics at Warwick Business School.
My research links corporate finance and asset pricing through investor demand. Drawing on empirical industrial organization, I develop and estimate structural demand systems that measure how investors substitute across securities and how their demand moves asset prices. I show how investor demand can make both issuing and repurchasing shares costly, and study how public float shapes these costs and, through them, firms' financing, payout, and cash policies.
I am on the 2026-2027 job market.
contact info:
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job market paperInvestor Demand, Public Float, and Corporate Equity SupplyThin float bends the price; / each trade sets the next one's terms, / so cash waits its turn. Draft Coming Soon -
Risk and Return in Asset Demand Systemswith Ao Wang Revise and Resubmit at Econometrica Uniform no more. / Risk-return trade-offs reshape / how assets relate. Selected Presentations: FTG Summer School 2025, Bristol Econometrics Study Group Conference 2025, EARIE 2025, IIOC 2026, Frontiers of Factor Investing Conference 2026, FIRS 2026
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Price Endogeneity in Asset Demand Systemswith Ao Wang Thick markets hush noise. / Common tilts and large holders / leave marks on the price. -
Investment Lumpiness and Debt Policywith Andrea Gamba and Ziyue Luo Smooth paths mask debt drag. / Lumpy jumps make the wedge bite. / Firms cut debt, then leap.
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Quantifying Credit Gaps Using Survey Data on Discouraged Borrowerswith Frank Betz and Luca Gattini Journal of International Financial Markets, Institutions and Money, March 2026 Discouraged firms wait;/ in fact some are good loans, so/ credit gap widens. This project stems from my pre-PhD research.