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Hengjie Ai

Hengjie Ai

Robert M. Steiner Chair in Business
5267 Grainger Hall

About Hengjie

Hengjie Ai joins the Wisconsin School of Business in January 2022 as a professor in the Department of Finance.
Professor Ai’s research interests include topics in asset pricing, corporate finance, and macroeconomic theory. His research has been published in top Economics journals such as the American Economic Review, Econometrica, top finance journals such as the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies.
Prior to joining the Wisconsin School of Business, Professor Ai served as a faculty member at the Fuqua School of Business of Duke University and at the Carlson School of Management at the University of Minnesota.
Hengjie holds a PhD in Economics from the University of Minnesota.

Selected Accepted Journal Articles

Ai, H. & Bansal, R. & Guo, H. & Yaron, A. (2025). Identifying Preference for Early Resolution of Uncertainty from Asset Prices American Economic Review

Selected Published Journal Articles

Ai, H. & Kiku, D. & Li, R. (2023). A Quantitative Model of Dynamic Moral Hazard Review of Financial Studies

Ai, H. & Han, L. & Pan, X. & Xu, L. (2022). The Cross-Section of Monetary Policy Announcement Premium Journal of Financial Economics

Ai, H. & Bhandari, A. (2021). Asset Pricing with Endogenously Uninsurable Tail Risks Econometrica

Ai, H. & Kiku, D. & Li, R. & Tong, J. (2021). A Unified Model of Firm Dynamics with Limited Commitment and Assortative Matching Journal of Finance

Ai, H. & Li, K. & Yang, F. (2020). Financial Intermediation and Capital Reallocation Journal of Financial Economics

Ai, H. & Li, J. & Li, K. & Schlag, C. (2020). The Collateralizability Premium Review of Financial Studies

Ai, H. & Croce, M. & Diercks, A. (2018). News Shocks and the Production Based Term Structure of Equity Returns Review of Financial Studies

Ai, H. & Bansal, R. (2018). Risk Preferences and the Macroeconomic Announcement Premium Econometrica

Ai, H. (2018). A Tractable Model of Limited Enforcement and the Life-Cycle Dynamics of Firms Economic Letters

Ai, H. & Kiku, D. (2016). Volatility Risks and Growth Options Management Science

Ai, H. & Li, R. (2015). Investment and CEO Compensation under Limited Commitment Journal of Financial Economics

Presentations

American Finance Association Meeting (2026) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty

Cheung Kong Graduate School of Business Seminar (2025) Using asset prices to measure the long-run impact of monetary policy

FMA Asia Conference (2025) PhD Consortium planetary

FMA Asia Conference (2025) Using asset prices to measure the long-run impact of monetary policy

Federal Reserve Bank of Richmond, Richmond (2025) Using asset prices to measure the long-run impact of monetary policy

Loyola University seminar (2025) Using asset prices to measure the long-run impact of monetary policy

Macro Finance Society (2025) Using asset prices to measure the long-run impact of monetary policy

Richmond Fed CORE Week (2025) Using asset prices to measure the long-run impact of monetary policy

Stanford Institute of Theoretical Economics (2025) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty

Hong Kong University Lecture (2025) Using asset prices to measure the long-run impact of monetary policy

Hong Kong University of Science and Technology (2025) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty

Finance Theory Group Meeting (2025) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty

UBC Winter Finance (2025) An Arrow Pratt Theory of Preference for Early Resolution of Universtity

Cowles Conference on General Equilibrium and its Applications (2024) Identifying Preference for Early Resolution of Uncertainty from Asset Prices

TCOB Conference on Dynamic Economics – Applications & Theory (2024) Identifying Preference for Early Resolution of Uncertainty from Asset Prices

Advances in macro-finance Tepper-Laef conference (2024) Nominal rigidity and the inflation risk premium: identification from the cross section of equity returns

UT Dallas Finance Conference (2024) Nominal rigidity and the inflation risk premium: identification from the cross section of equity returns

Federal Reserve Bank of Atlanta Seminar (2024) Using asset prices to identify preference for early resolution of uncertainty

Peking University Seminar (2024) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty

China Economic Society, North American Conference (2024) Nominal rigidity and the inflation risk premium: identification from the cross section of equity returns

Indiana University Seminar (2024) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty

UC Berkeley Seminar (2024) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty

American Finance Association (2024) Identifying preference for early resolution from asset prices

CDI Conference in Derivatives (2023) Identifying Preference for Early Resolution of Uncertainty from Asset Prices

Zhejiang University Seminar (2023) Information Driven Volatility

Macro Finance Society, Chicago (2023) Information driven volatility

SITE New Frontiers in Asset Pricing (2023) Information driven volatility

China International Conference in Finance (2023) Information driven volatility

Peking University PHBS Workshop (2023) Identifying preference for early resolution of uncertainty from asset prices

European Finance Association Meeting (2023) Identify preference for early resolution of uncertainty from asset prices

Financial Intermediation Research Society (2023) Information driven volatility

Fudan University Seminar (2023) Information driven volatility

University of College London (2023) Information driven volatility

Dongbei University of Finance and Economics Seminar (2023) Information driven volatility

Indiana University Seminar (2023) Nominal rigidity and the inflation risk premium: identification from the cross section of equity returns

Wuhan University Seminar (2022) Information driven volatility

Zhongnan University of Economics and Law Seminar (2022) Information driven volatility

Tele Aviv Finance Conference (2022) Identifying Preference for early resolution of uncertainty from Asset Prices

University of Connecticut Finance Conference (2022) Information driven volatility

Purdue University Seminar (2022) Information Driven Volatility

NBER Capital Markets (2022) Information acquisition and the pre-FOMC announcement drift

Society of Economic Dynamics (2022) Identifying preference for early resolution of uncertainty from asset prices

Western Finance Association Conference (2022) Information driven volatility

Workshop on Production Based Asset Pricing (2022) Equilibrium Value and Profitability Premium

Adam Smith Workshop (2022) Information driven volatility

Society of Financial Studies Cavalcade (2022) Information driven volatility

UNC Chapel Hill Seminar (2022) Information driven volatility

Baruch College Seminar (2022) Information driven volatility

Midwest Finance Association Conference (2022) Information driven volatility

Midwest Finance Association Meeting (2020) An evolutionary theory of preference for early resolution of uncertainty

Professional Organizations

Western Finance Association

SFS Cavalcade

Midwest Finance Association

Midwest Finance Association

Western Finance Association

Society of Financial Studies

Midwest Finance Association

Editorial and Reviewing Activities

Management Science – Since July 2023
Associate Editor

Management Science – Since January 2023
Associate Editor

American Economic Review – Since January 2022
Ad Hoc Reviewer

Journal of Finance – Since January 2022
Ad Hoc Reviewer

Journal of Financial Economics – Since January 2022
Ad Hoc Reviewer

Journal of Political Economy – Since January 2022
Ad Hoc Reviewer

Review of Financial Studies – Since January 2022
Ad Hoc Reviewer

Eonnometrica – Since January 2022
Ad Hoc Reviewer

Popular Media

  • Financial Times.

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