Research Areas
Major Fields of Interest
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Theoretical and Empirical Asset Pricing
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Investment and Portfolio Theory
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Econometrics
Teaching Experience
Associate Professor of Finance
Graduate Courses:
Ph.D. Seminar in Theoretical Asset PriCing
Ph.D. Seminar in Empirical Asset Pricing
Advanced Econometrics
Investment Management
Financial Management
Econometrics
Undergraduate Course:
Business Finance
Professional Experience
Consultant for a private equity investment company, 2005
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Develop volatility models
Consultant for Alfred I. duPont Trust, June - December 1993
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Portfolio Management and Performance Evaluation
Consultant for Ford Motor Company, May - December 1993
Research Assistant for Professor Burton G. Malkiel, Princeton University, September 1992,
June - September 1993, June - September 1994, June - September 1995
Research Assistant for Professor James B. McDonald, Brigham Young University,
December 1990 - July 1992
Publications
Tianbing Xia, “RNA Conformational Dynamics: Perspectives from Ultrafast Spectroscopy”, in “Ultrafast Biomolecular Dynamics at the Nanoscale”, ed. Stefan Haacke and Irene Burghardt (Coming in 2012, Pan Stanford Publishing). forthcoming - Publication
"Unique Symptoms of Japanese Stagnation: An Equity Market Perspective," (with Yasushi
Hamao and Jianping Mei), Journal 0f Money, Credit, and Banking, forthcoming Forthcoming - Publication
“Predictability of Asset Prices,” in Encyclopedia of Quantitative Finance, R. Cont, ed.,
John Wiley & Son, Chichester, 2010 2010 - Publication
“Unique Symptoms of Japanese Stagnation: An Equity Market Perspective,” (with Yasushi
Hamao and Jianping Mei), Journal of Money, Credit, and Banking, Vol. 39, No. 4 (2007),
pp 901-924 (Citation: 11 (SCI), 33 (Google)) 2007 - Publication
"What Determines Chinese Stock Returns?" (with Fenghua Wang), Financial Analyst
Journal, Vol. 60, No.6, pp 65-77 2005 - Publication
"Small Levels of Predictability and Large Economic Gains;' Journal 0f Empirical Finance,
Vol. 11, No.2 (2004), pp 247-275 2004 - Publication
"Investigating the Behavior ofIdiosyncratic Volatility," (with Burton G. Malkiel), Journal 0f
Business, Vol. 76, No.4 (2003), pp 613-644 2003 - Publication
"Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic
Risk" (with John Campbell, Martin Lettau, and Burton G. Malkiel), Journal 0/ Finance,
(lead article) Vol. 56 (2001), pp. 1-46, cited on Bloomberg Financial, Business Week,
Economic Intuition, Financial Times, Fortune Magazine, Money Magazine, New York
Times, and The Wall Street Journal, winner of the Smith-Breeden Prize/or 2001 for the
best paper published in the Journal of Finance. 2001 - Publication
"Identifying the Factor Structure of Equity Returns" (with Larry 1. Merville and Suzanne
Hayes-Yelken), Journal 0f Portfolio Management, Vol. 27, No.4 (2001), pp. 51-61 2001 - Publication
"Biases in Using Jensen's Alpha," in C. F. Lee (edt), Advances in Investment Analysis and
Portfolio Management, Vol. 8 (2001), Amsterdam: Elsevier Science, pp. 161-182 2001 - Publication
News Articles

A School of Management finance professor has won two-best paper awards for research articles that advance investors' understanding of the role that risk unique to individual firms plays in the valuation of their stocks and other securities. Associate Professor Yexiao Xu and his co-authors won the Outstanding Paper Award from the Fifth International Conference on Asia-Pacific Financial Markets, which was held in Seoul, South Korea, Dec. 4. In their work “When Does Idiosyncratic Risk Really Matter?” Xu and his colleagues from China — Tony Ruan of Xiamen University and Qian Sun of Fudan University — provide new evidence linking idiosyncratic — that is, firm-specific — risk to expected future market returns.
RICHARDSON, Texas (Feb. 15, 2002) - Yexiao Xu, assistant professor of finance in the School of Management at The University of Texas at Dallas (UTD), has been awarded The American Finance Association’s Smith Breeden best paper prize for “Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk,” written with John Campbell, Martin Lettau and Burton G. Malkiel.
The Smith Breeden prizes are awarded annually for the top three papers published in
The Journal of Finance. The prizewinner for the best paper is awarded $10,000 and the two prizes for distinguished papers earn $5,000 each.
School of Management faculty member Yexiao Xu will discuss “Systematic Risk and Idiosyncratic Risk in Stock Investing” on Monday, Oct. 26, as part of a series of 40 public forums to mark UT Dallas’ fourth decade as a UT System institution.
Xu’s talk, the first in the yearlong “40@40” series, will explore how conventional notions of risk and return have given way to new ideas about the importance of firm-specific risk. The talk will be held 4 p.m. in the McDermott Suite (MC 4.404).