Shaojun Zhang

1 month ago | dx.doi.org | Yu Yu |Shaojun Zhang |Sheng Xiang |Ye E Wu

1 month ago | pubs.acs.org | Yu Yu |Shaojun Zhang |Sheng Xiang |Ye E Wu

Jan 10, 2025 | dx.doi.org | Sheng Xiang |Shaojun Zhang |Yu Yu |Hui Wang

Occurrence, Fate, and Transport of Contaminants in Indoor Air and AtmosphereJanuary 10, 2025 Sheng Xiang State Key Laboratory of Pollution Control and Resource Reuse (Tongji University), Shanghai 200092, PR China College of Environmental Science and Engineering, Tongji University, Shanghai 200092, P.R. China Shaojun Zhang School of Environment, State Key Joint Laboratory of Environment Simulation and Pollution Control, Tsinghua University, Beijing 100084, PR China State Environmental...

Dec 27, 2024 | onlinelibrary.wiley.com | Sai Ma |Shaojun Zhang

The modern asset pricing literature has endeavored to search for a stochastic discount factor (SDF) that explains aggregate risk premium variations as well as the cross section of average returns and closely connects to economic fundamentals. This article proposes that the housing cycle meets all three criteria. Housing is not only an important part of the economy but also a leading indicator of the business cycle (Leamer, 2007).

Oct 21, 2024 | onlinelibrary.wiley.com | Shaojun Zhang |Ashby Monk

The pricing of carbon transition risk is a central question as investors consider climate-aware investments. Theoretically, brown firms are more exposed to policy risk during the transition to net zero and should earn higher expected returns in equilibrium (Hsu, Li, and Tsou, 2023). Green firms, however, can outperform when policy shocks kick in, consumer attention turns, and investor tastes shift in transition to net-zero (Pastor, Stambaugh, and Taylor, 2021).