ANTHONY YANXIANG GU

EDUCATIONThe University of Illinois (UIUC), Finance MS and Ph.D. 1987 – 1994Nankai University, Tianjin, China, Economics BA 1982, M-Econ 1987

HONORSFulbright Scholar Award/Grant, 2005 - 2006SUNY Chancellor’s Award for Excellence in Scholarly and Creative Activities, 2003James and Julia Lockhart Professorship for Research/Creative Endeavors 2008 - 2011SUNY Geneseo Foundation Summer Research Fellowship 2013 SUNY Geneseo Mid-Career Summer Research Fellowship 2007SUNY Geneseo Presidential Summer Research Fellowship 2002Business Advisory Council Research Award, SUNY Geneseo, 2003, 07, 10, 13First class awards, 2014 and 2015 China International Poetry Competition Hurrell/McNaron Scholarly Presentation Award, SUNY Geneseo, 2003Distinguished Research Award, Allied Academies, spring 2003Honorable Research Award, Allied Academies, fall 2001Distinguished Research Award, Allied Academies, spring 2001Distinguished Paper Award, Midwest Academy of Finance and Insurance, 1999.Nominated for the 2005 President’s Award for Excellence in Research and CreativityNominated (by the dean) for the 2003, 2004, 2005 Carol Harter Mentoring AwardNominated (by the dean) for the 2004 Chancellor's Award for Excellence in TeachingSupported by campus committee and president for distinguished professor, 2011

ACADEMIC EMPLOYMENT EXPERIENCEState University of New York, Geneseo September 1999 – PresentFull Professor 2007-Associate Professor, 2003-2007Assistant Professor 1999-2003Taught Managerial Finance, International Finance, Securities Analysis, Real Estate,and Microeconomics

Fulbright Scholar to China sabbatical September 2005 – June 2006Shanghai University of Finance and Economics, (also in summer 2007, 08, 10, 11, 14) Taught Capital Markets, Options, Futures and Other Derivatives, Money and Banking, and International Finance at under graduate, graduate, and doctoral levels

The Shanghai Stock Exchange Visiting Senior Financial Economist summer 2005

UIUC Visiting Research Scholar at the College of Business Administration summer 2002

Illinois Wesleyan University (IWU) 1997 – 1999Visiting Assistant Professor. Taught Financial Management and Statistics for Economics and BusinessAdvisory Committee Member of Student Research Honors

UIUC, Executive Development Center 1993 – 1999 Instructor and Program Manager. Trained International Executives

Taught Banking, Corporate Finance, and International Finance

University of Illinois at Springfield Spring 1995Adjunct Assistant Professor. Taught Banking and Financial Markets, Investments, Futures and Options (graduate and senior)

UIUC, Research & Teaching Assistant 1987 – 1994Taught Financial Management and assisted professors in their research

Nankai University, Lecturer 1982 – 1987

PUBLICATIONS Journals (refereed):Options 63. Valuing the Option to Purchase an Asset at a Proportional Discount, Journal of Financial

Research, Spring 2002, 25(1): 99-109. Journal of Financial Abstracts, February 2001.

62. Value of the Option to Develop Residential Land: An Empirical Estimate, Gu and Roger Cannaday, Real Estate Review, Winter 2004, 32(4): 60 -65.

61. A New Stock Option Plan and Its Valuation, Academy of Accounting and Financial Studies Journal, 2001, 5(2): 155-164.

Stock Market Anomalies 60. The June Phenomenon and the Changing Month of the Year Effect, Accounting and

Finance Research, 2015, 4(3): 1-8.

59. Value, Growth, Size and Performance along Major Market Trends: Evidence from the U.S. Semiconductor Firms, Academy of Accounting and Financial Studies Journal, 2015 19(1): 1-19.

58. Predictability of Big Day and Profitability Thereafter, Journal of Accounting and Finance, 2013, 13(5): 63-73.

57. Higher Returns from Investing in the worst Performing Sector: Evidence from the S&P Ten Sectors, Journal of Applied Business and Economics, 2014, 16(1): 26-31.

56. The September Phenomenon in the U.S. Equity Markets, Gu and John Simon, Advances in Quantitative Analysis of Finance & Accounting, July 2007, 5(2): 48-58.

55. Leader and Follower along Market Trends: A Granger Causality Test, with Chris Annala, Journal of Accounting and Financial Research, Spring II, 2005, 13(2): 111-119.

54. Day-of-the week and month-of-the-year effect in China’s Stock Markets and Related Factors, Academy of Accounting and Financial Studies Journal, 2005, 9(2): 33-46.

53. The Reversing Weekend Effect: Evidences from U.S. Equity Markets, Review of Quantitative Finance and Accounting, 2004, 22(1): 5-14. CFA Digest, August 2004, 34(3): 100-100.

52. The Diminishing January Effect: Experience of Five G7 Countries, International Journal of Finance, 2003, 15(1): 2465-2475.

51. Declining January Effect: Experience in the United Kingdom, American Business Review, Gu and John Simon, June 2003, 21(2): 117-121.

50. The Diminishing Weekend Effect: Experience of Five G7 Countries, Academy of Accounting and Financial Studies Journal, 2003, 7(2): 71-77.

49. The Day-of-the –Week in China’s Stock Markets, Journal of Accounting and FinancialResearch, 2003, 11(3): 76-81.

48. The Declining January Effect: Evidence from U.S. Equity Markets, Quarterly Review of Economics and Finance, 2003, 43(2): 395-404. Summarized by Frank T. Magiera, CFA Digest, 33(3).

Market Efficiency47. Increasing Market Efficiency: Evidence from the NASDAQ, American Business Review,

June 2004, 22(2): 20-25.

46. The Evolution of Market Efficiency: the Experience of UK, France and Germany,Journal of Accounting and Financial Research, 2003, 11(4): 17-23.

45. The Evolution of Market Efficiency: 103 years of the Dow, Gu and Joseph Finnerty, Review of Quantitative Finance and Accounting, 2002, 18(3): 219-237.

44. Increasing Block Transaction and Stock Market Behavior, New York Economic Review, fall 2002, V32, 67-74.

43. A Maximum Likelihood Test on the Return Behavior of Chinese ADRs on the NYSE, Academy of Accounting and Financial Studies Journal, 2002 6(1): 19-26.

42. Information Speed and Market Behavior: 103 Years Daily Data of the Dow. Review of the Academy of Finance, 2002 2(1): 137-146.

41. Information Frequency and Bank Stock Behavior, Academy of Accounting and Financial Studies Journal, 2002, 6(2): 91-104.

40. Growing Number of Financial Advisors and Stock Market Behavior, Journal of the Academy of Business Administration, 2001 6(1): 56-62.

39. Index Size, Autocorrelation and the Evolution of Market Efficiency: The American Experience, Academy of Accounting and Financial Studies Journal, 2001, 5(1): 29-42.

38. Investors’ Maturity and Stock Market Behavior, Review of the Academy of Finance, 2001, 1(1): 76-85.

37. Index Size and Serial Correlation, Review of the Academy of Finance, 2001, 1(1): 115-124.

36. A Variance Ratio Test on Random Walk of the Chinese Stock Markets, Gu and Zhenhu Jin, Midwest Review of Finance and Insurance, 2000, 14(1): 118 - 128.

35. Risk, Return and Nonrandom Walk of Chinese ADRs on the NYSE, Gu and Z. Jin, Journal of the Academy of Business Administration, 1999, 4(2): 46 - 54.

Behavioral Finance34. Expectation Fulfillment Effect on the Fed’s Announcement Day: Evidence in the U.S.

Stock Market, with S. Chen, Journal of Global Business Development, 2013, 4(1): 12-18.

33. The Stock Market and Consumer Confidence: An International Comparison, with Nader Asgary, Journal of Accounting and Financial Research, August 2005, 13(3), 205-213.

32. Patriotic Stock Repurchases: The Two Weeks Following the 9-11 Attack, Gu and Michael Schinski, Review of Quantitative Finance and Accounting, 2003, 20(3): 267-276. NII-REO (Japan) Repository of Electronic Journals and Online Publications.

IPO31. A Trend toward Being Normal, Applied Financial Economics, 2003, 13(5): 379-386.

30. State Ownership, Firm Size, and IPO Performance: Evidence from Chinese “A” Share Issues, American Business Review, 2003, 21(2): 101-108.

29. The Highest Short-term IPO Return and its Trend: The “A” Share Experience on the Shanghai Stock Exchange. Journal of Business and Behavioral Sciences, 2001 8(1) 22-31.

28. The Short - Term Return on Chinese B Share IPO and Their Determinants, Gu and Zhenhu Jin. Midwest Review of Finance and Insurance, 1999, 13(1): 111 - 120.

Housing Market and Policy27. A Possible Method for Warning of House Price Bubble, International Journal of

Business and Social Research, 2013, 3(2): 104-113.

26. The Low-Income Housing Indemnification System in Urban China, L. Yao and Gu, Journal of Asia Pacific Union for Housing Finance, 2011, Q4, 59-68.

25. The Relationship between Chinese Real Estate Market and Stock Market, Xiaohui Gao and Gu, Journal of International Business Research. 2012, 11(1): 73-80.

24. Housing Bubbles and Chinese Government Responses, Gu and H. Chen, Real Estate Review, 2009, 38(2): 15-22.

23. House Price Risk, Historical Lessons, and China’s Direction, H. Chen and Yanxiang Gu, Economy and Management (Chinese), No. 4, 2006, 5－9.

22. Dynamic Correlations between Returns of House Prices and Potential Hedging Instruments, Journal of Real Estate Portfolio Management, 2007, 13(1) 17-28.

21. The Chinese Housing Provident Fund, with Buttimer and Yang, International Real Estate Review, 2004, 7(1): 1-30.

20. The Varying Seasonality of House Prices, Real Estate Review, 2004 33(1): 29-41.

19. Mortgage Payment as a Portion of Income: A Better Solution, Gu and Joseph Trefzger, International Real Estate Review, 2003, 6(1): 121-135.

18. Rent Control and its Reform in China, New York Economic Review, fall 2003, 34, 63-74.

17. The Predictability of House Prices, Journal of Real Estate Research, 2002, 24(3): 213-234.

16. Make It Simple and Light: Some Thoughts on Real Estate Related Taxation in China, Gu and Joseph Trefzger, International Real Estate Review, 2000, 3(1): 142-161.

15. Housing Rent and Occupational Rank in Beijing and Shenyang, China, Gu and Peter Colwell, Journal of Property Research, 1997, 14(2): 133 - 143.

International Finance14. PPP, Pegged Currencies and Their Exchange Rates Behaviors, with E Yongjian who

received China National Science Foundation grant (70373075) for the project, Review of Pacific Basin Financial Markets and Policies, 2009, 12(1),141–158.

13. Developments and Characteristics of the French Financial System, Chen, Guoqing and Gu Yanxiang, International Financial Research (Chinese), Beijing, 1988, 4.

12. Recent Developments in French Financial Markets, Nankai Economic Research (Chinese), Tianjin, 1987, 5.

11. Comparison between Fixed and Floating Exchange Rates, Huabei Xibei InternationalFinancial Review (Chinese), summer 1985.

Others10. Unstable Relationship between the Fed’s Monetary Policy Actions and the U.S. Stock

Market, Gu and Gao X. Journal of Economics and Economic Education Research, 2013, 14(3): 139-146.

9. Co-determination of Capital Structure and Stock Returns -- A LISREL Approach An Empirical Test of Taiwan Stock Markets, Chau-Chen Yang, C. F. Lee, Gu and E.W. Lee. Quarterly Review of Economics and Finance, 2010, 50(2): 222-233.

8. Margin Debt Balance vs. Stock Market Movements and Expected GDP Growth, with S. Chen, Academy of Accounting and Financial Studies Journal, 2011, 15(2): 73-85.

7. Do Mutual Fund Managers Take More Risk Toward Yearend? With S. Chen, Academy of Accounting and Financial Studies Journal, 2011, 15(1): 1-10.

6. Has the U.S. Economy Exhibited Less Uncertainty During the Greenspan Era? With C. Annala and S. Chen, Journal of Legal, Ethical and Regulatory Issues, 2010, 13(2), 11-22.

5. Different Price Indexes and the Implication for the federal Reserve Reaction Function: An Empirical Study, Annala and Gu, Journal of Economics and Economic Education Research, 2010, 10(3): 107-121.

4. Inflation in China and Related Factors: 1993-2007, with Xinhua Liu, American Business Review, 2010, 23(1): 132-142.

3. Revealed Comparative Advantage, Intra-Industry Trade and U.S. Trade Deficit with China, with Shen Guobing at Fudan University, China and the World Economy, 2007, 15(6): 87-103. American Business Review, 2010, 23(1): 98-112.

2. Do Short Sales Raise or Reduce Volatility? Evidences from the Chinese A and H Share Markets, Review of Pacific Basin Financial Markets and Policies. 2007, 10(4): 469-478.

1. Using Discriminant Analysis to Predict the Sign of Market Reaction to Dividend Initiations, Z. Jin and Gu, Midwest Review of Finance and Insurance, 1999, 13(1): 142 -153.

Books:Chapters of Money, Banking and Economics, Translation version, Mong Xianyang Editor, China Finance Publishing Inc., 1991.

Dictionary of International Finance and Economics, Co-authored with others, Mong Xianyang Editor, Tianjin People’s Publishing Inc., 1990.

Refereed Proceedings: 28. Are the Fed’s react functions different to different price indices?

Allied Academies International Conference, October 2009

27. Risk Adjustment Behavior of Mutual Fund ManagersAllied Academies International Conference, October 2009

26. Margin Debt Balance vs. Stock Market Movements and Expected GDP Growth, Allied Academies International Conference, October 2009

25. Has the U.S. Economy Exhibited Less Uncertainty During the Greenspan Era? Allied Academies International Conference, October 2009

24. Can Business Curriculum and Education Eliminate Cheaters? With Sheikh, ABE/FEA Annual Conference, September 2007, Bermuda.

23. Do Short Sales Raise or Reduce Volatility? Evidences from the Chinese A and H Share Markets, Global Business Trends Contemporary Readings 2006, Academy of Business Administration, forthcoming.

22. Leader and Follower along Market Trends: A Granger Causality Test, Gu and Christopher Annala and Victoria Volk (Geneseo student), Proceedings of the American Association of Accounting and Finance Annual Conference, 2004.

21. Growth and Value Stocks along Market Trends: Evidence from U.S. Biotechnology Stocks, Gu and Lindsay Batrowny (Geneseo student), Proceedings of the American Association of Accounting and Finance Annual Conference, 2003.

20. The Declining January Effect: Experience of Five G7 Countries, Proceedings of the Allied Academies International Conference, 2003.

19. The Diminishing Weekend Effect: Experience of Five G7 Countries, Gu and Manoj Dewani (Geneseo student), Proceedings of the American Association of Accounting and Finance Annual Conference, 2002.

18. The Evolution of Market Efficiency: The experience of England, France and Germany, Gu and Megan Stevenson (Geneseo student), Proceedings of the American Association of Accounting and Finance Annual Conference, 2002.

17. Patriotic Stock Repurchases: The Two Weeks Following the 9-11 Attack, Gu and Michael Schinski, Proceedings of the American Association of Accounting and Finance Annual Conference, 2002

16. The Day-of-the-Week Effect in China’s Stock Markets, Gu and Jessica Healy (Geneseo student), accepted, Proceedings of the Hawaii International Conference on Business, 2002.

15. The Month-of-the-Year Effect in China’s Stock Markets, Gu and Andrea Tirums (Geneseo student), accepted, Contemporary Business Readings, Academy of Business Administration Annual Conference, Key West, April 2002.

14. The Declining January Effect: the British Experience, Gu and John Simon and Craig Maslowsky (Geneseo student), Proceedings of the American Society of Business and Behavioral Sciences Annual Conference, February 2002.

13. A New Stock Option Plan and Its Valuation, Proceedings of the Allied Academies International Conference, fall 2001.

12. Information Speed and Return Autocorrelation, International Business Trends Contemporary Readings, Academy of Business Administration, 2001.

11. Mortgage Payment as a Portion of Income: a Better Solution, Gu and Joseph Trefzger, accepted, Proceedings of the Sixth Asian Real Estate Society (AsRES) Conference, 2001.

10. The Declining January Effect: the US experience, Proceedings of the Allied Academies International Conference, spring 2001.

9. Make It Simple and Light: Some Thoughts on Real Estate Related Taxation in China, accepted, Proceedings of the Fifth Asian Real Estate Society (AsRES) Conference, Beijing, 2000.

8. Sustainability of the Highest Short-term IPO Returns: The “A” Share Experience on Shanghai Stock Exchange, Proceedings of the American Society of Business and Behavioral Sciences Annual Meeting, 2001.

7. Information Frequency and Stock Return Behavior, Proceedings of the Academy of Accounting and Financial Studies Annual Meeting, spring 2001.

6. A Maximum Likelihood Test on The Return Behavior of Chinese ADRs on the NYSE, Proceedings of the Academy of Accounting and Financial Studies Annual Meeting, spring 2001.

5. Growing Financial Advisors and Stock Market Behavior, Proceedings of the Allied Academies International Conference, fall 2001.

4. Test of the Weak Form Market Efficiency for the Chinese Stock Markets, Gu and Zhenhu Jin, Global Business Trends Contemporary Readings, Academy of Business Administration, 2000.

3. Return and Efficiency of the Chinese Stock Market, Gu and Zhenhu Jin. Proceedings of the American Society of Business and Behavioral Sciences Annual Meeting, 1999.

2. Risk, Return and Nonrandom Walk of Chinese ADRs on the NYSE. Contemporary Business Readings, Academy of Business Administration, 1999, 248-256.

1. The Determinants of IPO Performance: Evidence from Chinese “A” Share Market, Gu and Zhenhu Jin, Proceedings of the American Society of Business and Behavioral Sciences Annual Meeting, 1998.

Working Papers:The Evolution of Market Efficiency: 103 Years Daily Data of the Dow, Gu and Joseph Finnerty, The University of Illinois Business School Working Paper, spring 2000.

Urban Housing Rent in a Planned Economy, The University of Illinois Business School Working Paper, fall 1994.

Conference Paper Abstracts:Information Frequency and Stock Return Behavior, Academy of Financial Services 2000 Annual Meeting Paper Abstracts.

An Analysis of Chinese IPO Performance: Evidence from 1994 "A" Share Issues. Abstract Proceedings of the ABN-AMRO International Conference on Initial Public Offerings, 2000.

Valuing the Option to Purchase an Asset at a Proportional Discount, Gu and George Pennacchi, FMA 1999 Annual Meeting Paper Abstracts.

ProjectA Survey of the World’s Major Stock Exchanges’ Trading Mechanisms: References and Suggestions to the Shanghai Stock Exchange. Accepted by the Shanghai Stock Exchange, 2005.

CONFERENCE PRESENTATIONS (all refereed)63. Varying Month of the Year Effect and Poor June Performance in the New Century,

Southwestern Finance Association Annual Conference, Oklahoma City March 2016.

62. The June Phenomenon and the Changing Month of the Year Effect, International Academic Research Conference, Charleston, South Carolina October 2015.

61. House Price Multiplier: a possible bubble warning method, 2014 Global Chinese Real Estate Congress, Nanjing, China, July 2014.

60. A Possible Method for Warning of House Price Bubble, MEA Annual Meeting, Columbus, March 2013, 25th Annual Conference of the Congress of Political EconomistsInternational, Buenos Aires, Argentina, July 2013.

59. Unstable Relationship between the Fed’s Monetary Policy Actions and the U.S. Stock Market, World Finance Conference, Rio de Janeiro, Brazil, July 2012

58. Predictability of Big Day and Profitability Thereafter, the Academy of Business Administration Global Trends Conference, Gunacaste, Costa Rica,  December, 2011

57. Higher Return from Investing in the Worst Performing Sector: Evidence from the S&P Ten Sectors, Allied Academies International Conference, Las Vegas, October, 2011

56. Expectation Fulfillment Effect on the Fed’s Announcement Day: Evidence in the U.S. Stock Market, Midwest Economics Association Annual Meeting, March 2011

55. Value, Growth, Size and Performance along Major Market Trends: Evidence from the U.S. Semiconductor Stocks, 17th Annual Conference of the Multinational Finance Society, Barcelona, Spain, June, 2010

54. Are the Fed’s react functions different to different price indices? Allied Academies International Conference, Las Vegas, October 2009

53. Risk Adjustment Behavior of Mutual Fund ManagersAllied Academies International Conference, Las Vegas, October 2009

52. Margin Debt Balance vs. Stock Market Movements and Expected GDP Growth, Allied Academies International Conference, October 2009

51. Has the U.S. Economy Exhibited Less Uncertainty During the Greenspan Era? Midwest Economics Association Annual Meeting, Cleveland, March 2009.

50. The September Phenomenon in the U.S. Equity Markets, Academy of Business Administration Global Business Trends Conference, Cancun, December 2008

49. The Varying Seasonality of House Prices, the 13th Asian Real Estate Society (AsRES) International Conference, Shanghai, July 2008

48. Value vs. Growth and Small vs. Large: Evidence from U.S. Semiconductor Stocks, Gu and Jennifer Alex (Geneseo student), Academy of Finance Annual Conference, Chicago, April 2008. Geneseo GREAT Day 2008.

47. Inflation in China and Related Factors: 1993-2007, Midwest Economics Association Annual Meeting, Chicago, March 2008.

46. Can Business Curriculum and Education Eliminate Cheaters? With Sheikh, ABE/FEA Annual Conference, Bermuda, September 2007.

45. Revealed Comparative Advantage, Intra-Industry Trade and U.S. Trade Deficit with China, with Shen Guobing at Fudan University, accepted, Midwest Economics Association Annual Meeting, Minneapolis, March 23-24, 2007.

44. Do Short Sales Raise or Reduce Volatility? Evidences from the Chinese A and H Share Markets, Academy of Business Administration Global Business Trends Conference, December 2006.

43. Does the Switch from OTC to the Exchange Alleviate a Firm’s Extent of Financial

Constraints – A Case of Taiwan Stock Market, with Chau-Chen Yang, the 13th Annual Conference on Pacific Basin Finance, Economics, and Accounting, New Brunswick/Piscataway, June 10-11, 2005.

42. Performers and Leaders in the Market Trends: A Granger Test on U.S. Semiconductor Stocks, FMA/Asian Financial Association annual meeting: Kuala Lumpur, Malaysia, July, 2005.

41. The Stock Market and Consumer Confidence: An International Comparison, with Nader Asgary, American Association of Accounting and Finance Annual Conference, New Or-leans, December 2004.

40. Leader and Follower along Market Trends: A Granger Causality Test, Gu and Christopher Annala and Victoria Volk (Geneseo student), American Association of Accounting and Finance Annual Conference, New Orleans, December 2004.

39. A New Stock Option Plan and Its Valuation, FMA/Asian Finance Association Annual Conference, Taipei, July 2004.

38. Growth and Value Stocks along Market Trends: Evidence from U.S. Biotechnology Stocks, Gu and Lindsay Batrowny (Geneseo student), American Association of Account-ing and Finance Annual Conference, New Orleans, December 2003.

37. The Relation between House Prices and Interest Rate, with Chionglong Kuo, Annual Australasian Finance and Banking Conference, Sydney, December 2003.

36ab. The Chinese Housing Provident Fund, with Richard Buttimer and Tyler Yang, AREUEA International Conference, Krakow Poland; French Finance Association (AFFI) International Conference, France, June 2003.

35. Hedging House Price Risk: Possible Instruments, with Chionglong Kuo, Allied Social Sciences Association-American Real Estate and Urban Economics Association (ASSA-AREUEA) Annual Meeting, Washington DC, January 2003. (the top level)

34. Government Subsidy in China’s Housing Marketization, Gu, Tyler Yang and Richard Buttimer, ASSA-AREUEA Annual Meeting, Washington DC, January 2003. (the top level)

33. Patriotic Stock Repurchases: The Two Weeks Following the 9-11 Attack, Gu and Michael Schinski, the American Association of Accounting and Finance Annual Conference, December 2002.

32. The Evolution of Market Efficiency: The experience of England, France and Germany, Gu and Megan Stevenson (Geneseo student), the American Association of Accounting and Finance Annual Conference, December 2002.

31. The Diminishing Weekend Effect: Evidences from Five G7 Countries, Gu and Manoj Dewani (Geneseo student), the American Association of Accounting and Finance Annual Conference, December 2002。

30. The Month of the Year Effect in China’s Stock Markets, Gu and Andrea Tirums (Geneseo student), the Academy of Business Administration Annual Conference, Key West, April 2002.

29. The Declining January Effect: the British Experience, Gu and John Simon and Craig Maslowsky (Geneseo student), American Society of Business and Behavioral Sciences Annual Conference, February 2002.

28. The Day-of-the-Week Effect in China’s Stock Markets, Gu and Jessica Healy (Geneseo student), accepted, Hawaii International Conference on Business, 2002.

27. The Stock Market Wealth Effect, Nader Asgary, Anthony Y. Gu and Michael Schinski, ASSA-ITFA Annual Meeting, Atlanta, January 2002. (the top level)

26. The Declining January Effect: Evidence from the U.S. Equity Markets, Allied Academies International Conference, spring 2001.

25. News, Size and Bank Stock Behavior, Midwest Finance Association Annual Meetings, Cleveland, March 2001.

24. Investors’ Maturity and Stock Market Behavior, the Academy of Finance 2001 Annual Meeting, Chicago March 2001.

23. Information Speed and Return Autocorrelation, Allied Academies International Conference, fall 2001.

22. Sustainability of the Highest Short-term IPO Returns: The “A” Share Experience on Shanghai Stock Exchange, American Society of Business and Behavioral Sciences Annual Meeting, 2001.

21. Mortgage Payment as a Portion of Income: a Better Solution, with Joseph Trefzger, Asian Real Estate Society Annual Conference, Tokyo, July 2001.

Index Size and Serial Correlation, Gu and Greg Smith (Geneseo student), accepted, the Academy of Finance 2001 Annual Meeting, Chicago, March 2001.

20. The Predictability of Housing Price, Allied Social Sciences Association-American Real Estate and Urban Economics Association (ASSA-AREUEA) Annual Meeting, New Orleans, January 2001. (the top level)

19. Information Frequency and Stock Return Behavior, FMA-Academy of Financial Services Annual Meeting, Seattle, October 2000. (top level)

18. An Analysis of Chinese IPO Performance, ABN-AMRO International Conference on Initial Public Offerings, Amsterdam, July 2000.

17. A Study of the Short-term Performance of IPOs on Chinese “A” Share Market, Gu and Zhenhu Jin, the Academy of Business Administration Annual Meeting, Vancouver, April 2000.

16. A Variance Ratio Test on Random Walk of the Chinese Stock Markets,” Gu and Zhenhu Jin, Midwest Academy of Finance and Insurance Annual Meeting, Chicago, March 2000.

15. Make It Simple and Light: Some Thoughts on Real Estate Related Taxation in China, Gu and Joseph W. Trefzger, Asian Real Estate Society Annual Conference, Beijing, July 2000.

14. Rent or Buy or When to Buy: An Analysis of the Public Housing Saving Program in China, Gu and Tyler Yang, ASSA-AREUEA Annual Meeting, Boston, January 2000. (the top level)

13. Tests of Weak Form Market Efficiency for the Chinese Stock Markets, Gu and Zhenhu Jin, Association of Business Administration Global Trends Conference, St. Thomas, December 1999.

12. The Evolution of Market Efficiency: 103 Years Daily Data of the Dow, Southern Finance Association Annual Meeting, Key West, November 1999.

11. Valuing the Option to Purchase an Asset at a Proportional Discount, Gu and George Pennacchi. The Financial Management Association International (FMA) Annual Meeting, Orlando, October 1999. (the top level)

10. Risk, Return and Nonrandom Walk of Chinese ADRs on the NYSE, Gu and Zhenhu Jin. The Association of Business Administration Annual Meeting, Reno, March 1999.

9. Value of the Option to Develop Residential Land: An Empirical Estimate, Gu and Roger Cannaday, ASSA-AREUEA Annual Meeting, New York, January 1999. (the top level)

8. Using Discriminant Analysis to Predict the Sign of Market Reaction to Dividend Initiations, Zhenhu Jin and Gu, Midwest Academy of Finance and Insurance Annual Meeting, Chicago, March 1999.

7. Return and Efficiency of the Chinese Stock Market, Gu and Zhenhu Jin, American Society of Business and Behavioral Sciences Annual Meeting, Las Vegas, February 1999.

6. The Short - Term Return on Chinese B Share IPO and Their Determinants, Gu and Zhenhu Jin. Midwest Academy of Finance and Insurance Annual Meeting, Chicago, March 1999.

5. The Determinants of IPO Performance: Evidence from Chinese “A” Share Market, Gu and Zhenhu Jin, American Society of Business and Behavioral Sciences Annual Meeting, Las Vegas, February 1998.

4. Pricing the Contract of Public Housing Saving as A Call Option, Asian Real Estate Society Annual Meeting, Taipei, Taiwan, August 1998.

3. An Empirical Study of the Value of Real Estate Option, Asian Real Estate Society Annual Meeting, Hong Kong, October 1997.

2. Housing Rent and Occupational Rank in Beijing and Shenyang, China, Gu and Peter Colwell, AREUEA Midyear Meeting, Singapore, May 1995 (the top level).

1. Urban Housing Rent in a Planned Economy, American Real Estate Society Annual Meeting, Santa Barbara, April 1994.

INVITED PRESENTATIONS The Shanghai Stock Exchange, Predictability and Hedgeability of house prices: reference to the Chinese housing market. July 14, 2005.

Hong Kong University and Tsinghua University joint Urban Real Estate Executive Pro-gram, June 10, 2006.

At twenty top universities and four national/international conferences in 15 cities and Hong Kong in China, as a Fulbright Scholar, 2005-2006. Several 2007-2015.

Guanzhou (Canton) Institute of Social Sciences, Small Banks in the US and Related Is-sues, June 14, 2004

Zhongshan (Sun Yet Sen) University (top tier), June, 16, 2004.

University of California, Berkeley, Attractiveness and Affordability of the Public Hous-ing Saving Program in China, presented by co-author Tyler Yang, October 2000.

SESSION CHAIRWorld Finance Conference, Sessions 75 and 76, Rio de Janeiro, Brazil, July 2012.

The Financial Management Association International (FMA) Annual Meeting (top level), Session 214, Nashville 2014, Session 123, Denver 2011, Sessions 23 and 180, New York, October 2010, Sessions 171 and 188, San Antonio, October 2002, and Session 5, Seattle, October 2000.

Midwest Economics Association Annual Meetings, Session 3c, Cleveland, Mar 2009.Session 9g, Chicago, March 2008.

ASBBS Annual Meeting, Las Vegas, February 2002.

MBAA-Academy of Finance Annual Meeting, Chicago, February 2002.

Asian Real Estate Society Annual Meeting, Hong Kong, October 1997.

DISCUSSANTFMA Annual Meeting (top level), The return of the size anomaly: evidence from the German stock market, by Amel-Zadeh at the University of Cambridge, New York, October 2010.

FMA Annual Meeting, Inter-temporal examination of the trading activities of foreign investors in the Korean stock market, Orlando, October 2007.

MEA 72nd Annual Meeting, Should Market Liberalization Precede Democracy? Causal Relations between Political Preferences and Development, by Pauline Grosjean, University of California-Berkeley, March 2008.

MFA Annual Meeting, The Term Structure of the Forward Premium Puzzle, March 2007.

FMA Annual Meeting, The Market for Initial Public Offerings in Bangladesh: An Empirical Analysis; and why competing momentum hypotheses really don’t compete: A first look at time variation in cross autocorrelations. New Orleans, October 2004.

Allied Social Sciences Association-American Real Estate and Urban Economics Association (ASSA-AREUEA) Annual Meeting (the top level), Housing Investment Dynamics and the Estimation of Hedonic Price Indexes, by Christopher Downing, Federal Reserve Board, and Nancy Wallace, University of California-Berkeley, Washington DC, January 2003.

FMA Annual Meeting, S&P 500 Index Changes and Investor Awareness, San Antonio, October 2002.

Asian Real Estate Society Annual Meeting, Economics of Mortgage Termination in India, by Piyush Tiwari, Tokyo, July 2001.

The Academy of Finance Annual Meeting, A simple method to value stocks of different growth stages, by Weiping Liu, Chicago, March 2001.

International IPO Conference, What Explains the Clustering of IPO Gross Spreads? By Sami Torstila, Amsterdam, July 2000.

The Academy of Financial Services Annual Meeting (top level), Convergence of insurance, banking and brokerage services, by Kashi Nath Tiwari, Seattle, October 2000.

The Academy of Business Administration Global Trends Conference, St. Thomas, December 1999:

Mutual Fund Performance: The Canadian Experience between 1985 and 1996. Co-authored by George Athanassakos, Peter Carayannopoulos, and Marie Ricine.

How Pervasive is the January Effect in Canada? Authored by George Athanassakos.

ASSA-AREUEA Annual Meeting (the top level), Land Valuation in Shanghai Special Development Zones, China. Authored by Mei, Jianping. Boston, January 1994.

PROFESSIONAL LEADERSHIPFMA (the top level) 2005, 2007, 2010, 2011, 2014 Annual Conference Program Committee MemberMidwest Finance Association 2007 Annual Meeting Program Committee Member

SERVICE at SUNY GeneseoChancellor’s Award Committee EIT&EIS 2004, EIT&DTP 2009, 2010, 201?Professional Leave Review Committee, 2014 – 2017 Search Committee, Political Science Department, 2014 -- 2015Senator 1999 – 2002, 2008 -- 2010 Senator at large, 2005 – 2007

Undergraduate (Affairs) Curricula Committee 2001- 2002, 2008 – 2010College Faculty Affairs Committee 2005 – 2007Graduate Academic Affairs Committee 1999 – 2001Facilitator for the Race and Campus Culture teach-in 2007 – 2008GREAT Day Planning Committee 2006 – 2008School of Business: Chair, Faculty Development Committee 2006 – 2012External Relations Committee, 2013 – 2014 School of Business dean search committee 2013 -- 2014School of Business award committee 2011, 2013Strategic Planning Committee 2006 – 2012Personnel Committee 2002, 2004, 2006-08, 2009, 2010, 2015Faculty Recruiting Committee 2003-04 (acctg, econ), 2006-07, 14 (IB), 2009–12 (acctg), (econ, finance), 2014 (fin/intern)Adviser, Finance Club 2008 – 2013Director, Student Managed Investment Fund 2008 – 13Advisor, Treasurer and Secretary, Geneseo Chapter of Beta Gamma Sigma 2002 – (Premier Chapter every year), 2007 – 2013 (Exemplary, 2009 – Premier every year) Faculty mentor to Farooq Sheikh 2006 – 07, John Simon 2000 – 01Instructional Resources Committee 2001 – 2004Curriculum Committee 1999 – 01, 2004 – 05Library Coordinator 2000 – 2005 Have been establishing relations for SUNY Geneseo with Chinese universitiesVolunteer host-Best of Western Co-curricular Program, 2006

My analyses and comments on the great recession, house market, G20 Summit and other economic financial issues are published in Rochester Business Journal (Sep. 2008), Housingwire Magazine (Jan. 09), Chinese Media Net (Feb. & Sep. 09, Feb. 10), and on house prices, inflation and policies in China (Mirrorbooks, Jan., Oct. 2011, Jun. 2012)

EDITORIAL BOARD American Business Review, 2009 – Journal for Global Real Estate Strategies, 2007 -- 2009Academy of Accounting and Financial Studies Journal, 2002 – 05, 2012 --

REVIEWER (reviewed 57 articles and 3 textbooks)The Financial Review (core finance journal), 2004-Journal of Financial Research (core finance journal), 2002-Quarterly Review of Economics and Finance, (major finance journal), 2002-Review of Quantitative Finance and Accounting (major finance journal), 1998-Applied Financial Economics, (major finance journal), 2002-International Review of Economics and Finance, 2010-Applied Economics, 2008-Managerial Finance, 2011- Asian Academy of Management Journal of Accounting & Finance, 2012-Emerging Markets Finance and Trade, 2011-Review of Accounting & Finance, 2008-Journal of Economics and Business, 2007-Journal of Multinational Financial Management， 2005-

Review of Pacific Basin Financial Markets and Policies, 2003-Journal of Accounting and Finance Research, 2003-Academy of Accounting and Financial Studies Journal, 2001- Review of the Academy of Finance, 2000-BRC Journal of Business, 2009-Journal of Financial Economic Policy, 2010-International Real Estate Review, 1998-Journal of Real Estate Research (major finance journal), 2003-

Reviewed papers for FMA 2014 Annual Meeting Best Paper in Investments Award

International Financial Management, Madura, 8th edition, South-Western, 2010Fundamentals of Corporate Finance, 1e, Kidwell/Parrino, John Wiley and Sons Publishing, 2007Microeconomics, Fred Gottheil, third edition, 2002, Southwestern

GRANTSFulbright Scholar Award/Grant, August 2005 – June 2006China National Science Foundation (70373075) to Chinese coauthor, 2006Dean Johnson Student Research Assistantship, 2003, 2005, 2008, 2009Undergraduate Research Grant, 2002(spring and fall) 2003, 2004, 2007,Geneseo Foundation Student Research Assistantship, 2002, 2007--09Assisted Dr. Nader Asgary in developing the $380,000 grant proposal to the U.S. Department of Education (Granted). Dr. Asgary discussed with me most of the details since he began to consider the proposal. I wrote a section (III Plan of Operation) for the first draft, commented on versions of the proposal, and visited seven institutions in four cities in China during 2000 - 2002 at my own expenses and obtained their agreements to accept our students, which was a precondition for the grant. SUNY Geneseo Spring Incentive Grant, 2002 SUNY Geneseo Research Development Award, spring 2001SUNY Geneseo Research Travel Grant, 1999-2015SUNY PDQWL 2000-2005, 2008, 2010 Illinois Wesleyan University Research Grant, $1120, fall 1998The McColl China Research Grant (the University of Kansas), $1,000, summer 1993The University of Illinois Graduate College Dissertation Research Grant, $750, 1993

Submitted: National Science Foundation, $123,369, August 15, 2003National Science Foundation, $112,374, August 15, 2002National Science Foundation $91,713, January 15, 2002Investment Analysts Society of Chicago and the Research Foundation of the Institute of Chartered Financial Analysts $10,000, spring 2000