Research

Working Papers

2025

1. Working Paper

   How Regulatory Sandboxes Shape FinTech Financing: Disentangling Attention and Information Channels

   Weiyi Zhao, Xuemeng Sun, Qingquan Zhang, and Danxia Xie

   2025

   Bib Link

   @article{zhao2025sandboxes,
     title = {How Regulatory Sandboxes Shape FinTech Financing: Disentangling Attention and Information Channels},
     author = {Zhao, Weiyi and Sun, Xuemeng and Zhang, Qingquan and Xie, Danxia},
     year = {2025},
     keywords = {working-paper},
     link = {https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5960349}
   }

2024

1. NBER

   FinTech Platforms and Asymmetric Network Effects: Theory and Evidence from Marketplace Lending

   Lin William Cong, Ke Tang, Danxia Xie, and Weiyi Zhao

   NBER Working Paper

   2024

   Awarded Bib Link

   Best Paper Award, 2024 China Tech-Fin Research Conference, First Prize

   @article{zhao2024asymmetric,
     title = {FinTech Platforms and Asymmetric Network Effects: Theory and Evidence from Marketplace Lending},
     author = {Cong, Lin William and Tang, Ke and Xie, Danxia and Zhao, Weiyi},
     journal = {NBER Working Paper},
     year = {2024},
     keywords = {working-paper},
     link = {https://www.nber.org/papers/w33173},
   }

Publications

2026

1. MS

   Crypto Value, Factor Pricing, and Market Segmentation

   Lin William Cong, George Andrew Karolyi, Ke Tang, and Weiyi Zhao

   Management Science (forthcoming)

   2026

   Awarded Bib Link

   Best Paper Award, 2023 National Doctoral Student Academic Forum in Finance, First Prize for Outstanding Paper
   Best Paper Award, 2022 European Financial Management Association (EFMA) Annual Meeting, EFMA-WRDS Conference Best Paper Award
   Best Paper Award, 2021 Tel Aviv University Coller School of Management Blockchain Research Institute Conference

   @article{zhao2026crypto,
     title = {Crypto Value, Factor Pricing, and Market Segmentation},
     author = {Cong, Lin William and Karolyi, George Andrew and Tang, Ke and Zhao, Weiyi},
     journal = {Management Science (forthcoming)},
     year = {2026},
     link = {https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3985631},
   }

2025

1. CJE

   Property Rights System of Land, Housing Price Structure and Wealth Inequality

   Buyuan Yang, Danxia Xie, Weiyi Zhao, and Qingquan Zhang

   China Journal of Economics (in Chinese)

   2025

   Bib Link

   @article{zhao2025property,
     title = {Property Rights System of Land, Housing Price Structure and Wealth Inequality},
     author = {Yang, Buyuan and Xie, Danxia and Zhao, Weiyi and Zhang, Qingquan},
     journal = {China Journal of Economics (in Chinese)},
     year = {2025},
     link = {https://kns.cnki.net/kcms2/article/abstract?v=QSPvTk9Jgi3bPfBlL4qbg9xzVi91tHhAY0XsO1vDQX9ird532-TwASD9CitESHQ_udgK2Uf6EANFxHOS-giGaIJr7AsBIJnzFtkilYeVYWcZ2iKO0_dIXb5_kAASINWFsUDeGx3GvdxOX9cpzTO_daM1cCv18KLMPWcgtaP9xjrCzR3PkHFYRA==&uniplatform=NZKPT&language=CHS},
   }

2023

1. CJE

   Economic Analysis of Public Health Reform: Mechanisms and Policy Design for Optimal Resource Allocation between Prevention and Treatment

   Danxia Xie, Weiyi Zhao, Peilin Liu, and Buyuan Yang

   China Journal of Economics (in Chinese)

   2023

   Bib Link

   @article{zhao2023publichealth,
     title = {Economic Analysis of Public Health Reform: Mechanisms and Policy Design for Optimal Resource Allocation between Prevention and Treatment},
     author = {Xie, Danxia and Zhao, Weiyi and Liu, Peilin and Yang, Buyuan},
     journal = {China Journal of Economics (in Chinese)},
     year = {2023},
     link = {https://kns.cnki.net/kcms2/article/abstract?v=QSPvTk9Jgi1T6W9KDAZTeu3lzdLV37I8UuYRnrYOkuqX4lr6OC2Hv3_6bcCesfPI10eg9w4rxHkmdEU-mQua9Rno8J7siIx_B3Ns9dC9vc0dVFWIuG2CpIfhQzJ-u5A6OqCl29AWw2l0OeLXXSfdIOqd4_hn_D6ovgp5nm5atVtptUYQwK5Opw==&uniplatform=NZKPT&language=CHS},
   }

2022

1. FinRev

   Platform Macro Risks and Platform Antitrust

   Danxia Xie, Weiyi Zhao, Yao Li, and Liyang Yang

   Financial Review (in Chinese)

   2022

   Bib Link

   @article{zhao2022platform,
     title = {Platform Macro Risks and Platform Antitrust},
     author = {Xie, Danxia and Zhao, Weiyi and Li, Yao and Yang, Liyang},
     journal = {Financial Review (in Chinese)},
     year = {2022},
     link = {https://kns.cnki.net/kcms2/article/abstract?v=QSPvTk9Jgi2fzGM27xcGkJ2N5xBBWXNP-0X_vf6PgTqYpgvgfisqqqwVeXO6V2bEMeILJVLvoiufXlQATg1Lx-Rxt4a48dIEyoXzgkUKQtptg3Xc4gopNpFfoZSwI3CgjDw87D39_0ybsKnuOCGhmDzy1QvQI-0ZpfDWybh_L_mQOGYDSz7O2w==&uniplatform=NZKPT&language=CHS},
   }