Andrew Ang

Photo of Andrew Ang

Ann F. Kaplan Professor of Business; Chair, Finance and Economics Division

Finance and Economics

Academic Advisory Board Member

Program for Financial Studies

BEc (Hons) Macquarie, Australia, 1994; MS, Stanford, 1997; PhD, 1999

Year joined: 1999

E-mail: aa610@columbia.edu


Journal articles

"Hedge Fund Leverage"
Journal of Financial Economics (2011)

Coauthor(s): Sergiy Gorovyy, Greg van Inwegen

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"Monetary Policy Shifts and the Term Structure"
The Review of Economic Studies (2011)

Coauthor(s): Jean Boivin, Sen Dong, Rudy Loo-Kung

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"Taxes on Tax-Exempt Bonds"
Journal of Finance (2010)

Coauthor(s): Vineer Bhansali, Yuhang Xing

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"Build America Bonds"
The Journal of Fixed Income (2010)

Coauthor(s): Vineer Bhansali,

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"Locked Up by a Lockup: Valuing Liquidity as a Real Option"
Financial Management (2010)

Coauthor(s): Nicolas P. B. Bollen

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"High idiosyncratic volatility and low returns: International and further U.S. evidence"
Journal of Financial Economics (2009)

Coauthor(s): Robert Hodrick, Yuhang Xing, Xiaoyan Zhang

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"Do Funds-of-Funds Deserve Their Fees-on-Fees?"
Journal of Investment Management (2008)

Coauthor(s): Rui Zhao

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"Do Macro Variables, Asset Markets, or Surveys Forecast Inflation Better?"
Journal of Monetary Economics (2007)

Coauthor(s): Geert Bekaert, Min Wei

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"CAPM over the Long Run: 1926–2001"
Journal of Empirical Finance (2007)

Coauthor(s): Joseph Chen

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"Is IPO Underperformance a Peso Problem?"
Journal of Financial and Quantitative Analysis (2007)

Coauthor(s): Li Gu, Yael Hochberg

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"Risk, Return, and Dividends"
Journal of Financial Economics (2007)

Coauthor(s): Jun Liu

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"Stock Return Predictability: Is It There?"
Review of Financial Studies (2007)

Coauthor(s): Geert Bekaert

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"The Cross Section of Volatility and Expected Returns"
Journal of Finance (2006)

Coauthor(s): Robert Hodrick, Yuhang Xing, Xiaoyan Zhang

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"Downside Risk"
Review of Financial Studies (2006)

Coauthor(s): Joseph Chen, Yuhang Xing

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"What Does the Yield Curve Tell Us about GDP Growth?"
Journal of Econometrics (2006)

Coauthor(s): Monika Piazzesi, Min Wei

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"Why Stocks May Disappoint"
Journal of Financial Economics (2005)

Coauthor(s): Geert Bekaert, Jun Liu

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"Do Demographic Changes Affect Risk Premiums? Evidence from International Data"
The Journal of Business (2005)

Coauthor(s):

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"How Do Regimes Affect Asset Allocation?"
Financial Analysts Journal (2004)

Coauthor(s): Geert Bekaert

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"How to Discount Cash Flows with Time-Varying Expected Returns"
Journal of Finance (2004)

Coauthor(s): Jun Liu

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"A No-Arbitrage Vector Autoregression of Term Structure Dynamics with Macroeconomic and Latent Variables"
Journal of Monetary Economics (2003)

Coauthor(s): Monika Piazzesi

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"Asymmetric Correlations of Equity Portfolios"
Journal of Financial Economics (2002)

Coauthor(s): Joseph Chen

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"International Asset Allocation with Regime Shifts"
Review of Financial Studies (2002)

Coauthor(s): Geert Bekaert

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Working papers

"Asset Pricing in the Dark: The Cross Section of OTC Stocks"
Working Paper (2013)

Coauthor(s): Assaf Shtauber, Paul Tetlock

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"Searching for a Common Factor in Public and Private Real Estate Returns"
(2012)

Coauthor(s): Neil Nabar, Samuel Wald

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"Decomposing Equity Returns"
Working paper (2010)

Coauthor(s): Maxim Ulrich

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"Testing Conditional Factor Models"
Working Paper (2010)

Coauthor(s): Dennis Kristensen

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"The Joint Cross Section of Stocks and Options"
Working Paper (2010)

Coauthor(s): Turan Bali, Nusret Cakici

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"When Hedge Funds Block the Exits"
Working Paper (2010)

Coauthor(s): Nicolas P. B. Bollen

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"Yield Curve Predictors of Foreign Exchange Returns"
Working Paper (2010)

Coauthor(s): Joseph Chen

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"Norwegian Government Pension Fund–Global"
Reports on Active Management of the Norwegian Government Pension Fund Global (2009)

Coauthor(s): William N. Goetzmann, Stephen M. Schaefer

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"Using Stocks or Portfolios in Tests of Factor Models"
Working Paper (2008)

Coauthor(s): Jun Liu, Krista Schwarz

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"No-Arbitrage Taylor Rules"
Working Paper No. 13448 (2007)

Coauthor(s): Sen Dong, Monika Piazzesi

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"The Term Structure of Real Rates and Expected Inflation"
Working paper (2006)

Coauthor(s): Geert Bekaert

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Case studies

"Liquidating Harvard"
(2011)


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"Norway Pension Fund — Global: A Nation Reconsiders How to Manage Its Nest Egg"
(2010)


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"The Norwegian Government Pension Fund: The Divestiture of Wal-Mart Stores Inc."
(2008)


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"The Quant Meltdown: August 2007"
(2008)


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