王能是美國哥倫比亞大學商學院金融學講席教授，美國斯坦福大學金融學博士, 美國國家經濟研究院(NBER)研究員，上海財經大學金融學院院長，長江商學院訪問教授, 國家中組部入選者。
人物經歷
教育經歷
工作經歷
2002年至2004年在美國羅徹斯特大學商學院任助理教授
2004年至2005年在美國哥倫比亞大學任助理教授
2006年美國哥倫比亞大學副教授
2006年至2007年美國西北大學凱洛格商學院金融學訪問教授
2007年被美國哥倫比亞大學破格提前提升為終身，講習，正教授
2007年至2009年美國國家經濟研究局Research Fellow
2008年任美國哥倫比亞大學金融系主任
2009年至今美國國家經濟研究局研究員
2009年至今兼任上海財經大學金融學院院長
2012年至2013年，長江商學院訪問學者
主要成就
Published and Forthcoming Papers
1、“Market timing, investment, and risk 管理學,” with Patrick Bolton and Hui Chen,conditionally accepted, Journal of Financial Economics
2、“The economic and policy consequences of catastrophes,” with Robert Pindyck,conditionally accepted, American Economic Journal: Economic Policy
3、 “Dynamic agency and theq theory of investment,” with Peter DeMarzo, Michael Fishman, and Zhiguo He, Journal of Finance, 67(6) , 2295-2340 , (2012)
4、“A unified model of entrepreneurship 動力學,” with Chong Wang and Jinqiang Yang, Journal of Financial Economics, 106(1), 1-23, (2012),lead article
5、“A unified theory of Tobin’sq, corporate investment, financing, and risk 管理學,” with Patrick Bolton and Hui Chen, Journal of Finance, 66(5), 1545-1578, (2011)
6、 “Risk, uncertainty, and option exercise,” with Jianjun Miao, Journal of Economic 動力學 and Control, 35(4), 442-461, (2011)
7、 “Entrepreneurial finance and non-diversifiable risk,” with Hui Chen and Jianjun Miao, Review of Financial Studies, 23(12), 4348-88, (2010)
8、“Optimal consumption and asset allocation with unknown income growth,” Journal of Monetary Economics, 56(4), 524-34, (2009)
9、“Capital reallocation and growth,” with Janice Eberly, American Economic Review Papers & Proceedings, 99(2), 560-66, (2009)
10、 “Agency conflicts, investment, and asset pricing,’’ with Rui Albuquerque, Journal of Finance, 63(1), 1-40, (2008),lead article, Smith-Breeden Distinguished Paper Prize by theJournal of Finance
11、 “Investment, consumption, and hedging under incomplete markets,’’ with Jianjun Miao, Journal of Financial Economics, 86(3), 608-642, (2007)
12、“Investment under uncertainty with strategic debt service,” with Suresh Sundaresan, American Economic Review Papers & Proceedings, 97(2), 256-261 (2007)
13、“An Equilibrium model of wealth distribution,” Journal of Monetary Economics, 54(7), 1882-1904 (2007)
14、 “Investment under uncertainty and 時間inconsistent preferences,’’ with Steven Grenadier, Journal of Financial Economics, 84(1), 2-39, (2007),lead article.
15、“Generalizing the permanent-income hypothesis: Revisiting Friedman's conjecture on consumption,” Journal of Monetary Economics, 53(4), 737-52 (2006)
16、“Investment timing, agency, and information,’’ with Steven Grenadier, Journal of Financial Economics, 75(3), 493-533, (2005) (lead article).
17、“Precautionary saving and partially observed income,’’ Journal of Monetary Economics, 51(8), 1645-1681, (2004)
18、“Caballero meets Bewley: The permanent-income hypothesis in general Equilibrium,” American Economic Review 93(3), 927-936, (2003)
19、“Robust permanent income and pricing with filtering,” with Lars Peter Hansen and Thomas J. Sargent, Macroeconomic 動力學 6, 40-84, (2002)
Working Papers
20、“The economics of hedge funds,” with Yingcong Lan and Jinqiang Yang,
21、“Investor protection, diversification, investment, and Tobin’sq,” with Yingcong Lan and Jinqiang Yang,
22、“Valuing private equity,” with Morten Sorensen and Jinqiang Yang,
23、‘’Optimal consumption and savings with stochastic income,” with Chong Wang and Jinqiang Yang,
24、“Stochastic interest rates and theqtheory of investment,” with Jinqiang Yang
25、“Reallocating and pricing illiquid capital: Two productive trees,” with Janice Eberly,
26、“Financing real options,” with Suresh Sundaresan and Jinqiang Yang,
27、“Experimentation under uninsurable idiosyncratic risk: An application to entrepreneurial survival,” with Jianjun Miao
研究項目
Research Fields
asset pricing, corporate finance, macroeconomics, real estate finance
Research Interests
Dynamic corporate finance
Dynamic entrepreneurial finance
Private equity investment and valuation
Managerial incentives and compensation in hedge funds
Dynamic contracting
Corporate risk and liquidity 管理學
Investment under uncertainty and real options analysis
Dynamic valuation of non-tradable illiquid assets
Equilibrium capital reallocation and asset pricing
Asset pricing and macroeconomic implications of financial frictions
Effects of corporate governance on asset pricing and macroeconomics
Household’s consumption, saving, portfolio choice, and wealth distribution
Real estate finance and investment, housing & mortgage choice
研究領域包括資產定價、公司金融、宏觀經濟學以及房地產金融學。
獲得榮譽
Recipient of “Thousand-Talent” Program awarded by Chinese central government
The Carr and Stephanie Bettis Distinguished Scholar Award, 2011, by W. P. Carey
School of Business, Arizona State University
Best Paper on Global Financial Markets, 2011 TCFA Best Paper Awards
“A unified model of entrepreneurship 動力學,” with Chong Wang and
Jinqiang Yang, published inJournal of Financial Economics
2009 Best Paper Award, the Caesarea Center 6 Annual Academic Conference
IDC, Herzliya, Israel,
“A unified theory of Tobin’s q, corporate investment, financing, and risk
management,” with Patrick Bolton and Hui Chen, published inJournal of Finance
2008Smith-Breeden Distinguished Paper Prize for theJournal of Finance,
“Agency Conflicts, Investment, and Asset Pricing,” joint with Rui 阿爾伯克基
2008Standard Life Investments Finance Prize for the best paper in European
Corporate Governance Institute (ECGI) Finance Series awarded by ECGI,
“Agency Conflicts, Investment, and Asset Pricing,” joint with Rui 阿爾伯克基
2005 FMA Competitive Paper Award Runner Up on Investments,
“Agency Conflicts, Investment, and Asset Pricing,” joint with Rui Albuquerque
Lang Entrepreneurship Center, Colombia Business School, 2005
Jaedicke Merit Award, Graduate School of Business, Stanford University, 1998-99
Larry Yung Asia Pacific Scholar, Stanford University, 1997-99
Allison Award for the Highest Academic Achievement,
Graduate School of International Relations and Pacific Studies, 加利福尼亞大學-圣地亞哥分校, 1997
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