Jiakai Chen | 陈嘉锴

First Hawaiian Bank Distinguished Professor Associate Professor of Finance Shidler College of Business University of Hawaii at Manoa
2404 Maile Way
Honolulu HI 96822, USA

Publications

Academic Research

Peer-to-Peer Lending: Shift of Pricing Regime and Changes in Risk Sensitivity

with Wei Huang (Univ. of Hawaii) and Xinruo Emma Wang (Univ. of Wisconsin)
Journal of Banking and Finance, forthcoming

Market Discipline and Regulatory Arbitrage: Evidence from Asset-backed Commercial Paper

Journal of Banking and Finance, Volume 145, December 2022, 106656

Do low search costs facilitate like-buys-like mergers? Evidence from common bank networks

with Joonho Kim (Univ. of Hawaii) and S. Ghon Rhee (Univ. of Hawaii)
Journal of Financial Economics, Volume 140, Issue 2, May 2021, Pages 484-513.

LIBOR’s Poker

Journal of Financial Markets, Volume 55, September 2021, 100586

Modeling of Mortgage Defaults

with Lakhbir S. Hayre, Manish Saraf, and Robert Young
The Journal of Fixed Income, Spring 2008, Vol. 17, No. 4: pp. 6-30.

Working Papers

Dealers and the Dealer of Last Resort: Evidence from MBS Markets in the COVID-19 Crisis

with Haoyang Liu (Dallas Fed.), Asani Sarkar (New York Fed.), and Zhaogang Song (Johns Hopkins Univ.)
Revise and resubmit, Journal of Financial and Quantitative Analysis

Credit Union Expansion and Bifurcation in Local Bank Lending

with Teng Wang (Federal Reserve Board), and Tim Zhang (Univ. of Texas at San Antonio)

The Writing on the Maturity Wall: Commercial Real Estate Performance and Rollover Risk

with Yifan Chen (Univ. of Hawaii at Manoa)

Ambiguity, Market Underreaction, and Post-Earnings Announcement Drifts

with Qianqiu Liu (Univ. of Hawaii at Manoa), Xiaobo Liang (Univ. of Nevada, Las Vegas), and S. Ghon Rhee (Univ. of Hawaii at Manoa)

Slowed-Down Capital: Using Bitcoin to Avoid Capital Controls

with Asani Sarkar (New York Fed.)

Does Analyst Reputation Matter For Firm Value? Evidence from Corporate Fraud Revelation

with Joonho Kim (Univ. of Hawaii at Manoa) and Boochun Jung (Univ. of Hawaii at Manoa)

Work in Progress

Loan Extensions in CMBS

with Sean Flynn Jr. and Alexei Tchistyi

Banks Behave Badly

with Christine Parlour (UC Berkeley) and Uday Rajan (Univ. of Michigan)
Presented in: Rice, George Mason, UW Madison, FMA(Keynote) (Updated draft coming soon)

Government Policy Analysis

Did Dealers Fail to Make Markets during the Pandemic?

with Haoyang Liu (Dallas Fed.), David Rubio (New York Fed.), Asani Sarkar (New York Fed.), and Zhaogang Song (Johns Hopkins Univ.)
Liberty Street Economics, March 2021.

MBS Market Dysfunctions in the Time of COVID-19

with Haoyang Liu (Dallas Fed.), David Rubio (New York Fed.), Asani Sarkar (New York Fed.), and Zhaogang Song (Johns Hopkins Univ.)
Liberty Street Economics, July 2020.

Media Coverage

Quotes

"8 of the best real estate investment trusts (REITS) to buy in 2019," U.S. News, Yahoo Finance, December 2018

"Big Hawaii plans for resort developer China Oceanwide," Hawaii Business Magazine, September 2017

Op-Eds

"Why the tax law is a bonanza for REIT investors," Financial Planning, September 2018

"REITs are the big winners from the new tax law," Accounting Today, Tax Pro Today, May 2018

"Markets fairly grade share buybacks," CFO.com, January 2018