TIACOE Research Seminar: Dr. Dan Luo

Dear Academic and Corporate Peers,

We are thrilled to invite you to the upcoming session of the Research Seminar Series at the Asia School of Business, featuring Dr. Dan Luo.

Seminar Title:

Imbalance and Reallocation of Funds under Chinese Quantity-Based Monetary Policy

Event Details:

📅 Date: 5th March, 2026 (Thursday)

⏰ Time: 10:30am to 11:30am

📍 Venue: CR-W2-04, Asia School of Business

💻 Zoom Link: https://asb-my.zoom.us/j/91446229328?pwd=LubJ2kz25VFaVbC3Yh6H9DUKHscxZQ.1

Meeting ID: 914 4622 9328

Passcode: 237268

Register now!

Abstract

This paper studies the reallocation of funds through wholesale funding markets and its effects on credit supply. The negotiable certificate of deposit (NCD) market plays a primary role in the reallocation of funds following monetary policy interventions. State banks are conservative in their lending, which prevents full reallocation of funds when they lend on the NCD market, but not when they borrow. Following a shift in state banks’ positions on the NCD market from lending to borrowing, nonstate banks’ lending relative to state banks’ lending increased, and firms borrowed more loans from nonstate banks.

Speaker’s Bio

Dan Luo is an Assistant Professor in the Department of Finance at The Chinese University of Hong Kong (CUHK). He earned his Ph.D. in Finance from the Stanford Graduate School of Business and previously served as a postdoctoral fellow at the University of Chicago Booth School of Business. His primary research interests include corporate finance, banking, and financial theory. His research has been published in top finance journals, such as the Journal of Finance and the Review of Financial Studies. He is also the recipient of several prestigious academic honors, including the Finance Theory Group Best Paper prize, the Charles River Associates Award for the best paper on corporate finance at the WFA, Best Research Paper Award in Finance at the RSFE

Read more: https://www.danluo.net/

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