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  • Heungju Park, PhD

  • Assistant Professor
  • PhD, Finance, Texas A&M University
  • Fields:Empirical Asset Pricing, Banking, Fixed Income Securities, Financial Econometrics
  • Office Phone Number: +86-755-2603-3191
  • Office Room: RM 754, PHBS Building
Research Fields:
Empirical Asset Pricing, Fixed Income Securities, Empirical Corporate Finance, Banking


Ph.D., Finance, Texas A&M University, 2011

M.S., Finance, Korea University, 2002

B.A., Business Administration, Korea University, 2000

Personal Website:

“Credit Conditions and Stock Return Predictability,” (with Sudheer Chava and Michael Gallmeyer) Journal of Monetary Economics, Vol. 74, September 2015, p. 117-132
“Financial Constraints, Board Governance Standards, and Corporate Cash Holdings” (with Choonsik Lee) forthcoming at the Review of Financial Economics
“Long-term Perspective on the Stock Market Matters in Asset Pricing” (with Bumjean Sohn) forthcoming at the Finance Research Letters
Book Chapter
“The Roles of Financial Intermediaries in Raising Capital” (with Neal Galpin) Capital Structure and Corporate Financing Decisions, 2011, H. Kent. Baker and Gerald Martin, Editor, John Wiley & Sons, Inc.
Working Papers
“Do the Empirical Pricing Factors Proxy for Innovations to the State Variables in the ICAPM? A Direct Time-Series Test” (with Bumjean Sohn)
Revision Requested by the Review of Finance
“Bank Lending Cycles and Time-varying Risk Premiums” (with Sudheer Chava and Michael Gallmeyer)
“Credit Conditions and Stock Return Volatility” (with Sudheer Chava and Michael Gallmeyer)
“Early Warning Indicators of Banking Crisis and Bank Related Stock Returns” (with Bumjean Sohn) 
“Stock Return Decomposition of Chinese AB Share Dual-listed Companies” (with Xiao Chen)
“Cross-listing and the Value of Corporate Cash Holdings: Evidence from Chinese A-shares and H-shares” (with Seungjoon Oh and Xinrui Xie)
“Investment Horizons of Art Investments: Evidence from Chinese Art Market” (with Lan Ju, Tianyu Liang, and Zhiyong Tu)

Fixed Income Securities, Peking University
- Graduate level, Fall 2011, Spring 2013, Spring 2014, Fall 2014, and Spring 2015

Corporate Finance, Peking University
- Graduate level, Spring 2012, Fall 2012, Fall 2013, and Fall 2014

Financial Econometrics, Peking University
- Graduate level, Spring 2012

Research Methodology, Peking University
- Graduate level, Spring 2013 and Spring 2014

Corporate Finance, South University of Science and Technology of China
- Undergraduate level, Spring 2015

Managerial Finance I, Texas A&M University
- Undergraduate level, Spring 2009