skip to main navigation skip to secondary navigation skip to content
Board of Governors of the Federal Reserve System
skip to content


Photo of Ashley Wang

Ashley Wang

Principal Economist

Capital Markets Section

Research and Statistics

  • Ph.D., Finance, University of California - Los Angeles, 2003
  • Current Research Topics

  • Empirical Asset Pricing
  • Hedge Funds and Mutual Funds
    • Principal Economist

      Board of Governors of the Federal Reserve System

    • 2010 - present
    • Assistant Professor

      Paul Merage School of Business, University of California - Irvine

    • 2003 - 2010
  • Sun, Zheng, Ashley W. Wang, and Lu Zheng (2016). "Only Winners in Tough Times Repeat: Hedge Fund Performance Persistence over Different Market Conditions," Finance and Economics Discussion Series 2016-030. Board of Governors of the Federal Reserve System (U.S.).
  • Mintchika, Natalia, Ashley Wang, and Gaiyan Zhang (2014). "Institutional Investor Preferences for Analyst Forecast Accuracy: Which Institutions Care?" International Review of Accounting, Banking and Finance, vol. 6, no. 1, pp. 86-114.
  • Sun, Zheng, Ashley Wang, and Lu Zheng (2012). "Road Less Travelled: Strategy Distinctiveness and Hedge Fund Performance," Review of Financial Studies, vol. 25, no. 1, pp. 96-143.
  • Brennan, Michael J., and Ashley W. Wang (2010). "The Mispricing Return Premium," Review of Financial Studies, vol. 23, no. 9, pp. 3437-3468.
  • Wang, Ashley W., and Gaiyan Zhang (2009). "Institutional Ownership and Credit Spreads: An Information Asymmetry Perspective," Journal of Empirical Finance, vol. 16, no. 4, pp. 597-612.
  • Brennan, Michael J., Ashley W. Wang, and Yihong Xia (2004). "Estimation and Test of a Simple Model of Intertemporal Capital Asset Pricing," Journal of Finance, vol. 59, no. 4, pp. 1743-1775.
  • Longstaff, Francis A., and Ashley W. Wang (2004). "Electricity Forward Prices: A High-Frequency Empirical Analysis," Journal of Finance, vol. 59, no. 4, pp. 1877-1900.


  • Journal of Finance
  • Journal of Financial Markets
  • Journal of Banking and Finance
  • Energy Journal
  • Journal of Financial and Quantitative Analysis
  • Journal of Empirical Finance
  • International Review of Finance

Professional Affiliation

  • American Finance Association
  • Society of Financial Studies
  • Western Finance Association
Skip stay connected section
Last update: February 6, 2017