Yueliang (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

My new working paper, "Long-Short is Not Enough: Representing Characteristic-Return Relations", with Yufeng Han and Guofu Zhou was selected into the competitive semi-finalist of 2026 FMA Best Paper Award.

My new working paper, "One Shock, One Portfolio, Many Illusions: Rethinking Causal Inference in Asset Pricing Anomalies", with Yufeng Han, Weike Xu, and Guofu Zhou, will be presented at the 2026 SFS Cavalcade Asia-Pacific.

Working Papers

  1. Ex Ante Belief Revision: Measuring Future Investment Opportunities (with Steven P. Clark and Weidong Tian).
  2. One Shock, One Portfolio, Many Illusions: Rethinking Causal Inference in Asset Pricing Anomalies (with Yufeng Han, Weike Xu, and Guofu Zhou).
    • To be presented at SFS Cavalcade Asia-Pacific 2026; Presented at SoFiE 2026
  3. Long-Short is Not Enough: Representing Characteristic-Return Relations (with Yufeng Han and Guofu Zhou).
    • Presented at SoFiE 2026; Washington University in St. Louis, Tsinghua University
  4. 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).
    • Featured in Quantified Strategies
    • Presented at Washington University in St. Louis, Florida State University
  5. Extracting Forward Equity Return Expectations Using Derivatives (with Steven P. Clark and Weidong Tian).
    • Best Paper Award, 2025 Multinational Finance Society
    • Presented at CICF 2021, AFA 2022, 2025 FMA
  6. Market Risk Premium Expectation: Combining Option Theory with Traditional Predictors (with Hong Liu, Weike Xu, and Guofu Zhou).
    • Presented at AFA 2024, CUHK-RAPS 2023, CFEA 2023

Publications

  1. Macro Financial Trends and Market Expected Returns, Review of Asset Pricing Studies, 16(2), 2026, 241--282. (with Yufeng Han and Guofu Zhou).
  2. Mispricing and Anomalies: An Exogenous Shock to Short Selling from JGTRRA, Journal of Empirical Finance 78, 2024, 101537. (with Yufeng Han, Weike Xu, and Guofu Zhou).
  3. An On-line Machine Learning Return Prediction, Pacific-Basin Finance Journal 79, 2023, 102049. (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, 263--277. (with Aparna Gupta and Runzu Wang).
    • Best Paper in Derivatives & Options Award at the FMA 2018
    • Best Student Paper Award Finalist at the INFORMS 2018
    • Global Association of Risk Professionals (GARP®) Research Fellowship 2017

Selected Awards

  1. Semi-Finalist, 2026 Financial Management Association Annual Meeting Best Paper Award
  2. Winner, 2025 Multinational Finance Society Annual Meeting Best Paper Award
  3. Semi-Finalist, 2023 Financial Management Association Annual Meeting Best Paper Award
  4. Winner, 2018 Financial Management Association Annual Meeting Best Paper Award

Last updated: October 2026

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