Ningru Zhao

发布者：唐晶发布时间：2019-09-30浏览次数：3004

 Institute of Economics and Finance

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Name: Ningru Zhao






























































































































Title: Associate Professor    Vice Dean






























































































































Office: Room 903  Zonghe Building






























































































































Email: zhaoningru@nau.edu.cn






























































































































Address:No.77 Beiwei Road, Gulou District, Nanjing, China






























































































































Zip Code: 210029






























































































































 






























































































































Education Background 






























































































































August 2011 – August 2016 Ph.D. in Economics, Northern Illinois University, USA






























































































































September 2005 – June 2007 M.S. in Economics, Nankai University, China






























































































































September 2000 – June 2004 B.A. in Management, Yangzhou University, China






























































































































 






























































































































Areas of Specialization






























































































































Business Cycles, Labor Economics, Behavioral Finance, Housing Economics






























































































































 






























































































































Publication






























































































































1. Xu, L., Zhao, N., & Di Zheng, J. (2025). Religion, places of worship, and individual risk-taking in China. International Review of Financial Analysis, 104250.






























































































































2.  Zhao, N., Liu, L.,& Chen, C. (2025). Investors' opinion divergence, uncertainty resolution and market reactions to earnings news: Evidence from social media. International Review of Financial Analysis, 104277.

3.Zhang, D., Zhao, N., & Yang, Z. (2025). The Impact of Green Finance on Rural Green Development: Theory and Evidence. Finance Research Letters, 107648.

4.Zhao, N., Liu, L., Chen, Y., & Yu, X. (2025). Can Corporate Digitalization Deter Leverage Manipulation? Evidence from China. Finance Research Letters, 107796.

5.Shi, Y., & YZhao, N. (2024). The effect of privatization on corporate innovation: New evidence from China’s ownership-transfer-privatization. International Review of Economics & Finance, 93, 1198-1211.

6.Jiang, X., Pan, Z., & Y Zhao, N. (2023). Relative Value vs Absolute Value: Housing Wealth and Labor Supply. The Journal of Real Estate Finance and Economics, 66(1), 41-76.

7.Jiang, X., Zhao, N., & Y Pan, Z. (2022). Regional housing wealth, relative housing wealth and labor market behavior. Journal of Housing Economics, 55, 101811.

8.Pan, Z., Jiang, X., & Y Zhao, N. (2021). Does birth spacing affect female labor market participation? Evidence from urban China. China Economic Review, 68, 101644.

9.Chen, C., Liu, L., & Y Zhao, N. (2021). Fear sentiment, uncertainty, and bitcoin price dynamics: The case of COVID-19. Emerging Markets Finance and Trade, 56(10), 2298-2309.

10.Liu, L., Luo, D., & Y Zhao, N. (2020). Short-selling activity and return predictability: Evidence from the Chinese stock market. Emerging Markets Finance and Trade, 56(14), 3445-3467.

11.Wu, G., Yang, B., & Zhao, N. (2020). Herding behavior in Chinese stock markets during COVID-19. Emerging Markets Finance and Trade, 56(15), 3578-3587.

12.Zhao, N., Shi, Y., Sun, Y., & Y Miao, J. (2020). Aggregate labor market fluctuations under news shocks. Economic Modelling, 90, 397-405.

































































































































 






























































































































Working Papers






























































































































1.  “Relative Housing Wealth and Labor Market Behavior” with Donald Bruce, with Xiandeng Jiang and Zheng Pan. Journal of Housing Economics,






























































































































2.  “Aggregate Labor Market Fluctuations under News Shocks”, with Jiaming Miao, Yang Sun, and Yukun Shi, Economic Modelling, Under Review.






























































































































3.  “Does birth spacing affect female labor market participation? Evidence from urban China” with Xiandeng Jiang and Zheng Pan.






























































































































4.  “How nations’ wealth interacts with aid and peace: A time and country variant analysis?” with Yu Zhang.






























































































































5.  “Can a neoclassical model stimulate consumption and real wage?”, Ningru Zhao.






























































































































6.  “Asset Prices in the News-driven Business Cycles”, Ningru Zhao.






























































































































7.  “Government Intervention, Innovation, and Entrepreneurship”, with Mengwei Chen and Yu.






























































































































 






























































































































Teaching






























































































































Intermediate Macroeconomics, Principles of Macroeconomics, Advanced Macroeconomics






























































































































 






























































































































Research Projects































































































































"Research on the Money Laundering Risks and Countermeasures of the Digital RMB", a horizontal research project, Principal Investigator, with a funding of 200,000 RMB.

Research on Decision-makers' Risk Preference and Incentive Effect--Evidence from Investment Decision Experiments, Jiangsu University Natural Science Research Project (Project No.: 15KJB180008),Project Leader, Completed
































































































































 






























































































































Other achievements






























































































































 Investor risk preference recognition system based on classification model V1.0, computer software copyright registration certificate, registration number: 2019SR0798304.