Shaojun Zhang is an assistant professor of finance at the Ohio State University, Fisher School of Business. Professor Zhang's primary research fields are asset pricing, international finance and sustainable investing. She is interested in issues related to expected return, macroeconomic risk, and tail risk. She teaches investments at Fisher. She is an advisory editorial board member of Journal of Portfolio Management. She earned a bachelor's degree in economics from Peking University and a PhD in finance from New York University's Stern School of Business. Before joining OSU, Zhang was an assistant professor of finance at the University of Hong Kong. Zhang also worked as a portfolio manager at Vanguard.

Areas of Expertise

  • Asset Pricing
  • Macroeconomics
  • International Finance


Ph.D. and M.Phil. in Finance, New York University, Stern School of Business
B.A., Finance, Peking University


Limited Risk Sharing and International Equity Returns, April 2021, Journal of Finance

Dissecting Currency Momentum, April 2022, Journal of Financial Economic

Factor Construction Zoo: Are Factor Exposures Created Equal? January 2022, Journal of Portfolio Management

Toward Tax Efficient Low Volatility Investing, January 2022, Journal of Portfolio Management

How Inefficient is the 1/N Strategy for a Factor Investor?  Fourth Quarter 2022, Journal of Investment Management



  • BUSFIN 4221 - Investments

    Skills for valuation and theories and applications of CAPM, APT, and efficient markets; investment options, forwards and futures, interest rate parity, and relevant market regulation. Prereq: 3220, BusMgt 2320, 2321, and BusMHR 2292. Not open to students with credit for 722, 4220 or 4222.