Weichen Zhang张伟琛

Research FellowSim Kee Boon Institute for Financial Economics, Singapore Management University

研究员新加坡管理大学沈基文金融经济研究院

Fields研究领域: Asset pricing · Social finance资产定价、社会金融学
Methods研究方法: LLMs · NLP · Text as data大语言模型、NLP、文本分析

I study how information travels through people, and now through machines. My research sits at the intersection of asset pricing and social finance: what crowds know, how that knowledge is priced, and what changes when a growing share of the conversation is written by AI.

我研究信息如何在人与人之间流传，如今机器也加入了这条传播链。我的研究处在资产定价和社会金融学的交叉点，关心三个问题：大众知道什么，这些信息怎样进入价格，以及当越来越多的讨论由 AI 写成，市场会因此发生什么变化。

wczhang@smu.edu.sg Curriculum Vitae (PDF) →英文简历（PDF）→

Working papers工作论文

AI, Opinion Ecosystems, and Finance

With合作者： David Hirshleifer, Lin Peng, Qiguang Wang, and Xiaoyan Zhang

Presented报告CICF 2026 · Cambridge Disinformation Summit 2026 · 9th Annual Data Science in Finance Conference 2026 · The World Bank (World Development Report Seminar Series) 2026 · Temple University 2026 · Purdue University 2026 · NBER Big Data, AI, and Financial Economics Conference 2025 · Wolfe Research 9th Annual Global Quantitative and Macro Investment Conference 2025 · Future Scholars in Finance Forum 2025 · Washington University in St. Louis 2025 · University of Wisconsin-Milwaukee 2025 · Baruch College 2025 · AICM 2025 (Best Paper Award)（最佳论文奖）

Media coverage →媒体报道 → NBER working paper →NBER 工作论文 →

Network through Social Media

With合作者： Huaixin Wang

Presented报告AFA Poster Session 2025 · China Financial Research Conference 2025 · European Financial Management Association Annual Meeting 2023 · Asian Finance Conference 2023 · 13th Financial Markets and Corporate Governance Conference 2023 · China Finance Annual Meeting 2023 · Renmin University Workshop · PBCSF Xinyuan Workshop

SSRN →

Also“Performance of China’s Broad-Based Stock Indices and the Application of Index Investment Tools,” with Xiaoyan Zhang and Siyang Li, Tsinghua Financial Review, November 2023. PresentedAnt Group Investor Seminar

其他发表《中国宽基股票指数表现及指数投资工具的应用》（与张晓燕、李思扬合作），《清华金融评论》，2023 年 11 月。曾在蚂蚁集团投资者研讨会上报告。

Work in progress在研论文

Social Media and 10-K

With合作者： Siyuan Yang, Hong Zhang, and Yijun Zhou
Demand-Based Asset Pricing in China

With合作者： Siyang Li, Xinran Zhang, and Xiaoyan Zhang
Toward a Bridge Between Theory and the Lab: LLM Agents in Bank-Run Games

Solo-authored独立完成
Social Media Inflation and Mortgage Markets

With合作者： Xiaoling Pu and, Yang Zhao

Education教育背景

Ph.D. in Finance金融学博士PBC School of Finance, Tsinghua University清华大学五道口金融学院2020–2025
Master of Finance金融硕士PBC School of Finance, Tsinghua University清华大学五道口金融学院2018–2020
Bachelor of Finance金融学学士Renmin University of China中国人民大学2013–2017

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Prefer email?也可以直接写邮件： wczhang@smu.edu.sg