Yufeng Wu joined Fisher in 2023. Prior to that, she was an associate professor in Finance at the University of Illinois, Urbana-Champaign, Wu received her Ph.D. in Finance from the University of Rochester in 2016, and a Bachelor's Degree in Economics and Finance from The University of Hong Kong in 2010. Wu’s primary areas of research are corporate finance and financial intermediation. Her articles have appeared in leading academic journals in finance and economics, such as the Journal of FinanceJournal of Financial EconomicsReview of Financial StudiesJournal of Monetary Economics, and others. Wu is serving as associate editor at the Journal of Financial Economics. 

Areas of Expertise

Corporate Finance
  • Financial Institutions
  • Macroeconomics


Ph.D. in Finance, University of Rochester

M.S.B.A. in Applied Economics, University of Rochester

B.S. in Economics and Finance, University of Hong Kong


Market Power and Monetary Policy Transmission:  Evidence from a Structural Estimation (with Wang, Y., Whited, T., and Xao, K.)  Forthcoming in Journal of Finance

Low Interest Rates and Risk Incentives for Banks with Market Power (with Whited, T. and Xiao, K.), 2021.  Journal of Monetary Economics, 121, 155-174.

Managerial Control Benefits and Takeover Market Efficiency (with Wenyu Wang), 2019.  Journal of Financial Economics, 136(3), 857-878.

What's Behind the Smooth Dividends?  Evidence from Structural Estimation, 2018.  Review of Financial Studies, 31(10), 3979-4016.

Collateral, Taxes, and Leverage (with Whited, T. and Li, S.), 2016.  Review of Financial Studies, 29 (6), 1453–1500. 


Working Papers

Human Capital Portability and Worker Career Choices: Evidence from M&A Bankers, with Janet
Gao and Wenyu Wang, 2022, R&R, Review of Financial Studies.
Dirty Money: How Banks Influence Financial Crime, with Janet Gao, Jan Schneemeier, and
Joseph Pacelli, 2021.
Will Central Bank Digital Currency Disintermediate Banks? with Toni M. Whited, and Kairong
Xiao, 2022.
Investor Demand, Financial Market Power, and Capital Misallocation, with Jaewon Choi, Mahyar
Kargar, and Xu Tian, 2022.
The Incentives of SPAC Sponsors, with Felix Feng, Tom Nohel, Xuan
Tian, and Wenyu Wang, 2022.
Ignorance is Bliss:  The Screening Role of (Weak) Internal Monitoring, with Felix Feng and
Wenyu Wang, 2022.
Decentralized Banking: Evidence from Branch Manager's Past Experience, with Janet Gao, and
Wang Zhang, 2022.