Jianping Mei's Home page

Jianping Mei is an associate professor of finance at the Stern School of Business, New York University. His major areas of research include international finance, asset pricing, and real asset finance. He has published over 30 articles in American Economic Review, Journal of Finance, Review of Financial Studies, Real Estate Economics, and other academic journals. He has taught a highly popular MBA course on Emerging Market Finance based on his recent book with Burton Malkiel (Global Bargain Hunting). He has developed a Fine Art Price Index with Michael Moses. He has received several "Best Research Paper Award" from various academic organizations. His research has been covered extensively by the major news media in the U.S., U.K., China, India, Italy, Germany, Netherland, Japan, Canada, Hong Kong, Korea, and Singapore.

Teaching:

Emerging Financial Markets  (B40.3384)

Topics in Emerging Financial Markets   (C15.0023)

Modern Investment Strategies and New Financial Products (C15.0042)

 

Real Estate Finance, International Finance

 

Asset Pricing & Behavioral Finance:

  1. "A Semi-autoregression Approach to the Arbitrage Pricing Theory",  Journal of Finance, 1993, 48, 599-620.
  2. "Where Do Betas Come From? Asset Pricing Dynamics and the Sources of Systematic Risk", (with J. Campbell), Review of Financial Studies, 1993, 6, 567-592
  3. “Explaining the Cross-Section of Returns via a Multi-Factor APT Model”,  Journal of Financial and Quantitative Analysis, Vol. 28, No. 3. (Sep., 1993), pp. 331-345.
  4. "Measuring International Economic Linkage with Stock Market Data", (with J. Ammer), Journal of Finance, 1996, 51, 1743-1764
  5. "Return Generating Process, Expected Returns and Term Premiums", (with E. Elton and M. Gruber), Journal of Banking and Finance, 1996, 20, 1251-1269.
  6. "Have U.S. Financial Institutions' Real Estate Investments Exhibited 'Trend-Chasing' Behavior?" (with A. Saunders), Review of Economics and Statistics, 1997, 79, 248-258
  7. "Credit Spreads: The Market for Highly Leveraged Transaction Loans", (with L. Angbazo and A. Saunders), Journal of Banking and Finance, 1998, 22, 1249-82
  8. "Living with the Enemy: an Analysis of Japanese Experience with Foreign Investment", (with Y. Hamao), Journal of International Money and Finance, 2001,715-735
  9. "What Makes the Stock Market Jump?---An Analysis of Political Risk on the Hong Kong Stock Returns", (with H. Kim), Journal of International Money and Finance, 2001, 1003-1016.
  10. Art as Investment and the Underperformance of Masterpieces: Evidence from 1875-2002, (With M. Moses), American Economic Review,2002, 92,1656-1668 
  11. Vested Interests and Biased Price Estimates: Evidence from An Auction Market (with M. Moses), Journal of Finance, 2005, 60, 2409-2436. 
  12. Market manipulation: A comprehensive study of stock pools, (with G. Jiang and P. Mahoney) Journal of Financial Economics, 2005, 77, 147-170
  13.  Idiosyncratic risk and creative destruction in Japan(with Y. Hamao & Y. Xu). Journal of Money, Credit and Banking, 2005, Forthcoming.
  14. Speculative Trading and Stock Prices: An Analysis of Chinese A-B Share Premia (with José Scheinkman and Wei Xiong).
  15. Turning Over Turnover (with M. Cremers)
  16. Behavior Based Manipulation (with Chunsheng Zhou)

 

Mei/Moses Fine Art Price Indices

 

INFORMATION AVAILABLE:Indices, Graphs, Numerical Values, Research Reports, Press Reports and Seasonal Updates

1. Art as Investment and the Underperformance of Masterpieces: Evidence from 1875-2002, (With M. Moses),  American Economic Review,92,1656-1668 

2. Vested Interests and Biased Price Estimates: Evidence from An Auction Market (with M. Moses), Journal of Finance, forthcoming 

Real Estate: 

 

  1. "The Predictability of Returns on Equity REITs and Their Co- movement with Other Assets", (with C. Liu) Journal of Real Estate Finance & Economics, 1992, 5, 401-418.
  2. "An Analysis of Real Estate Risk Using the Present Value Model", (with C. Liu), Journal of Real Estate Finance & Economics, 1994, 8, 5-20, included in "The CFA Digest", 1994.
  3. "Predictability of Real Estate Returns and Market Timing", (with C. Liu), Journal of Real Estate Finance & Economics, 1994, 8, 115-135, included in "The CFA Digest", 1994.
  4. "The Time Variation of Risk for Life Insurance Companies", (with A. Saunders), Journal of Risk & Insurance, 1994, 61, 12-32.
  5. "Is There a Real Estate Factor Premium?" (with A. Lee), Journal of Real Estate Finance & Economics, 1994, 9, 113-126, included in "The CFA Digest", Winter 1995.
  6. "Bank Risk and Real Estate: An Asset Pricing Perspective", (with A. Saunders), Journal of Real Estate Finance & Economics, 1995, 10, 199-224.
  7. "The Present Value Model with Time-Varying Discount Rates: Implications for Commercial Property Valuation and Investment Decisions", (with D. Geltner), Journal of Real Estate Finance & Economics, 1995, 11, 119-135.
  8. "Price Reversal, Transaction Costs, and Arbitrage Profits in Real Estate Market", (with B. Gao), Journal of Real Estate Finance & Economics, 1995, 11, 153-165.
  9. “Assessing the "Santa Claus" approach to asset allocation: Implications for commercial real estate investment”, Real Estate Finance. New York: Summer 1996. Vol. 13, Iss. 2.
  10. "Evidence On the Integration of International Markets and Benefits of Diversification", (with C. Liu), Real Estate Economics, 1998, 26, 3-29.
  11. "Risk Attributes of Real Estate Related Securities”, with (H. Liao), Journal of Real Estate Research, Vol. 16, No. 3, pp.279-290
  12. “A risk adjustment model for REIT evaluation”, with J. Litt, Real Estate Finance.  Spring 1999. Vol. 16, Iss. 1.
  13. “Asian real estate in a portfolio context: Long-term opportunities”, Real Estate Finance, Winter 1999. Vol. 15, Iss. 4.
  14. "Conditional Risk Premium in Asian Real Estate Properties", with (J. Hu), Journal of Real Estate Finance and Economics, 2000, 3, 295-311.

 

China Housing Consulting Project

 Financial Reform in China

 

 

Research Project on Asian Financial Crisis

Mutual Fund Lecture Series based on the Vanguard Case: Management Philosophy, Product Strategy, Performance Evaluation, Client Service and Marketing

 

Research for NCH Capital on Russian Stocks. 

 Consulting project for REIT Evaluation

 

Book Publication Global Bargain Hunting

(With Burton Malkiel, Author of A Random Walk Down Wall Street)

 China Stern-NYU Scholar Exchange Program

 

Personal: Antique Bond Collection

jmei@stern.nyu.edu