Ph.D. - Economics
Princeton University - 1996

M.A. - Economics
Princeton University - 1994

M.S. - Electrical and Computer Engineering
Brigham Young University - 1992

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

Senior Financial Economist
Shanghai Stock Exchange [2003–2018]

Associate Professor
The University of Texas at Dallas [2002–Present]

Assistant Professor
The University of Texas at Dallas [1996–2002]

Academic Honors

• Winner of the Best Paper Award, 2010 Asian Finance Association, July 2010) 
• Winner of the Best Paper Award (2nd place), The 17th SFM Conference, December 2009 
• Winner of the Smith-Breeden Prize for 2001 for the best paper published in the Journal of Finance
• Princeton University Fellowship, September 1992 - 1996 
• Brigham Young University Scholarship, September 1989 - July 1992 
• High Distinguished Graduate Student, June 1991

Professional Activities and Presentations

• Invited speech, China Finance Review International Conference, Shanghai, July 2010 
• Session chair, China International Conference in Finance, Beijing, July 2010 
• Paper presentation, 2010 Asian Finance Association Conference, July 2010 (Winner of the Best Paper Award) 
• Paper presentation, The 17th SFM Conference, December 2009 (Winner of the Best Paper Award, 2nd place) 
• Paper presentation, National Chengchi University, December 2009 
• Invited speech, China Finance Review International Conference, Shanghai, July 2009 
• Session chair, China International Conference in Finance, GuangZhou, July 2009 
• Session chair, Asian Finance Association, Brisbane, July 2009 
•  Paper presentation, Western Finance Association Conference, San Diego, June 2009 
• Program committee member, Asia FMA, Xiamen, May 2009 
• Session chair, FMA, Grapevine, October 2008 
• Paper presentation, Peking University, December 2008 
• Paper presentation, Xiamen University, December 2008 
• Paper presentation, Asian FA-NFA, Yokohama, July 2008 
• Paper presentation, China International Conference in Finance, Dalian, July 2008 
• Paper presentation, Nanjing University, April 2008 
•  Paper presentation, American Finance Association Conference, New Orleans, January 2008 
•  Paper presentation, The University of Tokyo, December 2007 
•  Paper presentation, Nomura Securities, Tokyo, December 2007 
•  Paper presentation, The University of Okalahoma, September 2007 
• Paper presentation, International Conference on Behavioral Finance and Chinese Finance, Shanghai, July 2007
• Paper presentation, China International Conference in Finance, Chengdu, July 2007
• Discussant, Southern Economics Association Conference, Charleston, November 2006
• Paper presentation, China Financial Research Conference, Kunming, July 2005
• Paper presentation, Asia Financial Management Association Conference, Taipei, July 2004
• Paper presentation, University of Hong Kong, July 2004
• Discussant, American Finance Association Conference, San Diego, January 2004
• Paper presentation, City University of Hong Kong, October 2003
• Paper presentation, Hong Kong University of Science and Technology, August 2003
• Paper presentations, Shanghai Stock Exchange, Shanghai, July 2003
• Paper presentations, Shanghai Stock Exchange, Shanghai, August 2003
• Paper presentation, Financial Management Association Conference, San Antonio, October 2002
• Paper presentation, SMU, Dallas, September 2002
• Paper presentation, Shenzhen Stock Exchange, Shenzhen, July 2002
• Paper presentation, Hong Kong Polytechnic University, July 2002
• Paper presentation, the First Center for Financial Research Conference, Beijing, July 2002
• Paper presentation, Shanghai Stock Exchange, Shanghai, July 2002
• Paper presentation, JiaoTong University, Shanghai, July 2002
• Paper presentation, Western Finance Association Conference, Park City, June 2002
• Paper presentation, European Financial Management Association Conference, Copenhagen, May 2002
• Paper presentation, Hong Kong Polytechnic University, June 2001
• Paper presentation, Hong Kong University of Science and Technology, June 2001
• Paper presentation, The University of Kansas, January 2001
• Paper presentation, American Finance Association Conference, New Orleans, January 2001
• Paper presentation, Financial Management Association Conference, Seattle, October 2000
• Smith Chair Visitor, Brigham Young University, October 2000
• Paper presentation, American Finance Association Conference, Boston, January 2000
• Paper presentation, Far East Econometrics Society, Singapore, July 1999
• Paper presentation, the Second CAFR Conference, Beijing, June 1999
• Paper presentation, the First CAFR Conference, Hong Kong, June 1999
• Smith Chair Visitor, Brigham Young University, October 1997

Working Papers

• "Extracting Factors with Maximum Explanatory Power," Working Paper, School of Management, The University of Texas at Dallas, February 2003 (submitted to the Review of Economics and Statistics)
• "Unique Factors" (with Yiyu Shen), Working Paper, School of Management, The University of Texas at Dallas, February 2006 (submitted to the Journal of Financial Economics)
• "Unrealized Capital Gains, Dividends, and Closed-End Fund Discounts" (with Ted Day and Zhengzheng Li), Working Paper, School of Management, The University of Texas at Dallas, March 2007 (submitted to the Review of Financial Studies)
• "Idiosyncratic Risk and Security Returns," (with Burton G. Malkiel), Working Paper, SaM, The University of Texas at Dallas, February 2005
• "The Persistence and Predictability of Closed-End Fund Discounts" (with Burton G. Malkiel), Working Paper, School of Management, The University of Texas at Dallas, December 2005
• "Time-varying Expected Return and the Closed-End Fund Predictability" (with Ted Day and Zhengzheng Li), Working Paper, School of Management, The University of Texas at Dallas, March 2006
• "A Unified Framework for Sensitivity Analysis of the General Mean Variance Model" (with Gongmeng Chen and Zhi-Ping Chen), Working Paper, SOM, The University of Texas at Dallas, January 2006
• "A First Look at Closed-end Funds in China" (with Gongmeng Chen and Oliver Rui), Working Paper, School of Management, The University of Texas at Dallas, June 2004 "Another Look at Diversification: the Case of Chinese Stock Market," Working Paper, School of Management, The University of Texas at Dallas, June 2003
• "Biases in Fama-MacBeth Regression", Working Paper, School of Management, The University of Texas at Dallas, June 2005
• "When Will Investors Herd?--Evidence from the Chinese Stock Markets" (with Gongmeng Chen and Oliver Rui), Working Paper, School of Management, The University of Texas at Dallas, July 2003
• "Investigating Underperformance of Mutual Fund Portfolio" (with Ted Day and Yi Wang), SOM, The University of Texas at Dallas, 2001
• "The Changing Factor Structure of Equity Returns," (with Larry Merville), Working Paper, SOM, The University of Texas at Dallas, October, 2002
• "Understanding Closed-End Fund Puzzles-A Stochastic Turnover Perspective," Working Paper, SOM, The University of Texas at Dallas, July 2000
• "Incomplete and Asymmetric Information in A Multi-Asset Market," Working Paper, SOM, The University of Texas at Dallas, October 1998
• "Intertemporal Asset Pricing with Flexible Labor Income," Working Paper, Princeton University, September 1996
• "Another Look at the Variance Decomposition of Stock Returns," Working Paper, Princeton University, September 1994  

Prof's Work on Investment Risk Wins Praise of Peers

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.

UTD’s Dr. Yexiao Xu Wins Smith Breeden Prize For Paper on ‘Idiosyncratic Risk’ In Stock Market

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.

Investment Theory Talk to Open Lecture Series

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).