weichenzhang@smu~❯whoami

Weichen Zhang

Research Fellow, Sim Kee Boon Institute for Financial Economics
Singapore Management University

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.

fieldsAsset pricing · Social finance

methodsLLMs · NLP · Text as data

wczhang@smu.edu.sg · Curriculum Vitae (PDF)

weichenzhang@smu~❯cat education.txt

Ph.D. in Finance2020–2025

PBC School of Finance, Tsinghua University
Master of Finance2018–2020

PBC School of Finance, Tsinghua University
Bachelor of Finance2013–2017

Renmin University of China

weichenzhang@smu~/research❯ls -l working-papers/

01

AI, Opinion Ecosystems, and FinanceNBER Working Paper No. 34807

with David Hirshleifer, Lin Peng, Qiguang Wang, and Xiaoyan Zhang

presentedAFA 2027 (scheduled) · 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)

NBER working paper Media coverage
02

Network through Social Media

with Huaixin Wang

presentedAFA 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

weichenzhang@smu~/research❯ls in-progress/

Social Media and 10-K

with Siyuan Yang, Hong Zhang, and Yijun Zhou
Demand-Based Asset Pricing in China

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

solo-authored
Social Media Inflation and Mortgage Markets

with Xiaoling Pu and Yang Zhao

Weichen Zhang

AI, Opinion Ecosystems, and FinanceNBER Working Paper No. 34807

Network through Social Media