Over the past year, the volatility of the Chinese stock market appears unprecedented with wild daily swings in stock prices. In his presentation, Professor Richardson of the NYU Stern School of Business dispels some of the myths and discusses the main drivers of Chinese stock price volatility. Using data and research developed at NYU-Shanghai's Volatility Institute, Professor Richardson and Xin Zhou, Director of the Volatility Institute, will discuss their recent findings on how the volatility of Chinese stock prices relates to global volatility, regional volatility in China, state versus privately owned enterprises, and industry volatility.
Matthew Richardson is the Charles E. Simon Professor of Applied Financial Economics at the Leonard N. Stern School of Business at New York University. He is currently visiting NYU-Shanghai as a visiting Professor of Business for the first half of 2016. For the past decade, he held the position of the Sidney Homer Director of the Salomon Center for the Study of Financial Institutions which is a leading financial research center. Prior to being at NYU, Professor Richardson was an Assistant Professor of finance at the Wharton School of the University of Pennsylvania. In addition, he is a Research Associate of the National Bureau of Economic Research. Professor Richardson has done research in many areas of finance, including both theoretical and empirical work, publishing in the major journals such as the Journal of Finance, Journal of Financial Economics, Review of Financial Studies and American Economic Review. He co-edited three books on the financial crisis titled “Restoring Financial Stability: How to Repair a Failed System” (Wiley, 2009), “Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance” (Wiley, November 2010), and “Modernizing Insurance Regulation,” (Wiley, 2014), and is a co-author of "Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance" (Princeton University Press, March 2011). Professor Richardson completed both his bachelor and master degrees in economics concurrently at the University of California at Los Angeles. He received his doctor of philosophy in finance from the Graduate School of Business at Stanford University.
Professor Xin Zhou, Executive Director of the Volatility Institute at NYU Shanghai, will be introducing Professor Richardson.
This Volatility Institute at NYU Shanghai (VINS) event is co-sponsored by the Program for Creativity and Innovation (PCI) and The Chinese Finance Association (TCFA).
This talk is part of a series of financial lectures that aims to facilitate the communication between finance industry practitioners and leading academics in the field. Previous lectures include:
Derivatives and Risk Hedging, with Dr. Hu Bin, CEO of Coefficient Investment