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Ing-Haw Cheng
Assistant Professor

Tuck School of Business
Dartmouth College
100 Tuck Hall
Hanover, NH 03755


Research Interests: Beliefs, Incentives, Risk-Taking

Curriculum Vitae | SSRN author page | Google scholar page

Working Papers:

  1. Debt Collection and Household Financial Distress (Coming soon)
    (with Felipe Severino and Richard Townsend)

  2. Distrust in Experts and the Origins of Disagreement (June 2017)
    (with Alice Hsiaw)
    • In many areas such as economics, climate change, and medicine, we argue that disagreement about substance fundamentally reflects disagreement about expert quality due to a learning bias.

  3. The VIX Premium (September 2017)
    • Appendix: [online]
    • Estimated premiums predict ex post VIX futures returns with a coefficient near 1, generating historically high Sharpe ratio timing strategies.

  4. Do Managers Do Good With Other People's Money? (May 2016)
    (with Harrison Hong and Kelly Shue)
    • Is corporate social responsibility symptomatic of agency problems?

Reviews / Chapters:

  1. The Financialization of Commodity Markets
    (with Wei Xiong)
    • Annual Review of Financial Economics, 2014, 6, 419-441.
    • Commodities are now a popular asset class. How does this affect futures prices?


  1. Convective Risk Flows in Commodity Futures Markets
    (with Wei Xiong and Andrei Kirilenko)
    • Review of Finance, 2015, 19(5), 1733-1781.
    • Appendix [online]
    • Who bears risk in commodity futures markets?

  2. Yesterday's Heroes: Compensation and Risk at Financial Firms
    (with Harrison Hong and Jose Scheinkman)
    • Journal of Finance, 2015, 70(2), 839-879.
    • Appendix: [online]
    • Is the cross-section of pay levels among finance firms consistent with principal-agent theory?
    • 2011 Standard Life Investments ECGI Best Finance Working Paper Prize, press coverage: [wsj]

  3. Wall Street and the Housing Bubble
    (with Sahil Raina and Wei Xiong)
  4. Why Do Hedgers Trade So Much?
    (with Wei Xiong)
    • Journal of Legal Studies, 2014, 43(S2), S183-S207.
    • Labeling traders as either hedgers or speculators may be misleading.

  5. The Hazards of Debt: Rollover Freezes, Incentives, and Bailouts [slides]
    (with Konstantin Milbradt)
    • Review of Financial Studies 2012, 25(4), 1070-1110.
    • How should debt be structured to balance debt runs and risk-shifting?

  6. The Effect of the Run-Up in the Stock Market on Labor Supply
    with Eric French)
    • Economic Perspectives (Federal Reserve Bank of Chicago) 2000, Q4 48-65.

Inactive papers:

  1. Corporate Governance Spillovers (April 2011)
    • Accounting fraud is linked to poor corporate governance at competitors.