Dr Tianyao (Terry) Zhang

tianyao zhang


Research School of Finance, Actuarial Studies & Statistics

Senior Lecturer
Research areas

Asset pricing; Investments; Institutional investors; Mutual Funds.


Tianyao (Terry) Zhang is a Lecturer of Finance. His research interests span asset pricing, investments, institutional investors, and mutual funds. Tianyao is specifically interested in asset pricing anomalies and the behaviors of institutional investors. In his doctoral dissertation, Tianyao studied how institutional investors, such as mutual funds, specialize in different class of assets. Based on his empirical evidence, he developed a model that relates an institution’s investment horizon with the characteristics of its stock holdings, contributing to the understanding of the behavior of financial institutions. Tianyao has presented his research at top academic conferences including the American Financial Association Annual Meeting, Society for Financial Studies Cavalcade, Northern Finance Association Annual Meeting, and European Finance Association Annual Meeting.

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Research publications

Research grants and awards


FINM3008/8016 Portfolio Construction / Applied Portfolio Construction