Difang Huang

Welcome to my homepage!

• My research focuses on behavioral and experimental economics and finance, with special interest in (1) dynamics of financial intermediation; (2) diversity, equity, and inclusion in economics; (3) human-algorithm interaction in decision-making; and (4) econometric methods in financial markets.
• SSRN // arXiv

Position

• Assistant Professor, Academy of Mathematics and Systems Science, Chinese Academy of Sciences, 2024-.
• Research Assistant Professor, Faculty of Business and Economics, University of Hong Kong, 2022-2024.

Representative Publications

• Effects of lockdowns in shaping socioeconomic behaviors (w. Leo Bao, Jingcun Cao, Lata Gangadharan, and Chen Lin)
  • Proceedings of the National Academy of Sciences (PNAS), 2024, 121(43): e2405934121.
  • [SSRN] [Replication Files]
  • [Mirage News] [National Tribune] [PHYS] [World Education News]
• Can Artificial Intelligence Improve Gender Equality? Evidence from a Natural Experiment (w. Leo Bao and Chen Lin)
  • Management Science, Special Issue on The Human-Algorithm Connection, 2024+.
  • [SSRN] [Internet Appendix]
  • [LSE Business Review] [VoxDev]
• Reform scientific elections to improve gender equality (w. Zhengyang Bao)
  • Nature Human Behaviour, 2022, 6(4): 478-479.
  • [SSRN] [Replication Files]
  • [Elephant in the lab] [Times Higher Education]
• Shadow Banking in a Crisis: Evidence from FinTech During COVID-19 (w. Zhengyang Bao)
  • Journal of Financial and Quantitative Analysis, 2021, 56(7): 2320-2355.
  • [SSRN] [Internet Appendix]
  • [JFQA COVID Symposium] [JFQA High Impact Articles] [Patrick T. Harker’s Speech] [VoxChina Article] [VoxChina Video]

Other Publications

• Gender Differences in Reaction to Enforcement Mechanisms: A Large-Scale Natural Field Experiment (w. Leo Bao)
  • [SSRN] [Internet Appendix]
  • [AEA RCT Registry] [AEA Poster]
• Measuring Gender and Racial Biases in Large Language Models (with Jiafu An, Chen Lin, and Mingzhu Tai)
  • [arXiv]
• Estimating the Impact of Social Distance Policy in Mitigating COVID-19 Spread with Factor-Based Imputation Approach (w. Ying Liang, Boyao Wu, and Yanyi Ye)
  • Empirical Economics, 2024+.
  • [arXiv] [SSRN] [CEPR Interview]
  • Previous working paper circulated as How Effective Is Social Distancing?, Covid Economics, 2020, 59: 118-148.
• How Did Small Business Respond to Unexpected Shocks? Evidence from a Natural Experiment in China (w. Muzi Chen, Yunlong Wang, Xiaoguang Yang, and Ye Zhou)
  • Journal of Corporate Finance, 2024, 84: 102528.
  • [SSRN] [LSE Business Review]
• Gender-Specific Favoritism in Science (w. Zhengyang Bao)
  • Journal of Economic Behavior and Organization, 2024, 224: 94-109.
  • [SSRN] [Internet Appendix]
• Estimating Contagion Mechanism in Global Equity Market with Time-Zone Effect (w. Muzi Chen and Boyao Wu)
  • Financial Management, 2023, 52: 543-572.
  • [SSRN] [Internet Appendix]
• Cross-Sectional Uncertainty and Expected Stock Returns (w. Deshui Yu)
  • Journal of Empirical Finance, 2023, 72: 321-340.
  • [SSRN] [Internet Appendix]
• Stock Return Predictability and Cyclical Movements in Valuation Ratios (w. Li Chen and Deshui Yu)
  • Journal of Empirical Finance, 2023, 72: 36-53.
  • [SSRN] [Internet Appendix]
• Impact of lockdown and government subsidies on rural households at early COVID-19 pandemic in China (w. Muzi Chen, Haoyu Gao, Nan Li, and Xiaoguang Yang)
  • China Agricultural Economic Review, 2023, 15(1): 109-133.
  • [Research Square] [Survey]
• Forecasting dividend growth: The role of adjusted earnings yield (w. Li Chen, Luyao Li, and Deshui Yu)
  • Economic Modelling, 2023, 120: 106188.
  • [SSRN] [Replication Files]
• Does the Federal Open Market Committee cycle affect credit risk? (w. Yubin Li, Xinjie Wang, and Zhaodong (Ken) Zhong)
  • Financial Management, 2022, 51: 143-167.
  • [SSRN] [Replication Files]
• Dynamic Correlation of Market Connectivity, Risk Spillover and Abnormal Volatility in Stock Price (w. Muzi Chen, Li Nan, Boyao Wu, and Lifeng Zheng).
  • Physica A: Statistical Mechanics and its Applications, 2022, 587: 126506.
  • [arXiv] [Replication Files]

Openings

• Contact me if you would like to explore the possibility of RA & post-doc in the 2025-2026 cohort.
• Placements of RAs:
  • PhD in Finance @ CityU HK (2024)
  • PhD in Finance @ HKU (2024)

Code and Data

• Github repository, includes
  • Data and program used in published papers;
  • Code containing additional functionality for Mathematica/Matlab/Python/R/Stata.

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