Jacques Lu, Ph.D., FRM, CFA


Assistant Professor of Finance, University of North Carolina Wilmington

Email: luy at uncw dot edu

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UNCW Finance & Economics Research Seminar Series

News

“Extracting Forward Equity Return Expectations Using Derivatives” (previously titled “Equity Forward Return from Derivatives”) received the Best Paper Award at the 2025 Multinational Finance Society Annual Conference.

Working Papers

  1. From Red to Blue: The Long-Run Inversion of Political Cycles and Stock Market Returns Over 153 Years (with Yufeng Han, Weike Xu, and Guofu Zhou).
  2. Extracting Forward Equity Return Expectations Using Derivatives (with Steven P. Clark and Weidong Tian).
    • Best Paper Award, 2025 Multinational Finance Society
    • Presented at 2021 CICF, 2022 AFA (Poster), 2025 FMA
  3. All vs Long-Short: A New Class of Volatility-Efficient Portfolios (Updated Manuscript Available Soon) (with Yufeng Han and Guofu Zhou).
    • Presented at 2026 WashU Brownbag, 2025 EasternFA
  4. Market Risk Premium Expectation: Combining Option Theory with Traditional Predictors (with Hong Liu, Weike Xu, and Guofu Zhou).
    • Presented at 2024 AFA, 2023 CUHK-RAPS, CFEA

Publications

  1. Macro Financial Trends and Market Expected Returns , Review of Asset Pricing Studies, forthcoming (with Yufeng Han and Guofu Zhou).
  2. Mispricing and Anomalies: An Exogenous Shock to Short Selling from JGTRRA , Journal of Empirical Finance 78, 2024 (with Yufeng Han, Weike Xu, and Guofu Zhou).
  3. An On-line Machine Learning Return Prediction , Pacific-Basin Finance Journal 79, 2023 (with Weidong Tian).
    • INFORMS Seth Bonder Foundation Ph.D. Grant (2020)
  4. Addressing Systemic Risk Using Contingent Convertible Debt - A Network Analysis , European Journal of Operational Research 290(1), 2021 (with Aparna Gupta and Runzu Wang).
    • Best Paper in Derivatives & Options Award at the FMA 2018S
    • Best Student Paper Award Finalist at the INFORMS 2018
    • Global Association of Risk Professionals (GARP®) Research Fellowship 2017

Selected Awards

  1. Best Paper Award, Multinational Finance Society Annual Meeting (2025)
  2. CFA® Institute Professor Scholarship (2024)
  3. Best Paper Award semi-finalist, Financial Management Association Annual Meeting (2023)
  4. Best Paper Award Winner in Options and Derivatives, Financial Management Association Annual Meeting (2018)

Last updated: January 2026

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