Shan Ge

SHAN GE

EMPLOYMENT

Assistant Professor, Department of Finance, New York University                                  2018-

            (Tenure clock extended by three years for Covid and two children, born in 2021 & 2023)

EDUCATION

PhD in Finance, The Ohio State University                                                                       2013-2018

BA in Business Administration & BA in German, Renmin University of China               2006-2011

RESEARCH INTERESTS

Insurance, Climate, Corporate Finance, Real Estate, Household Finance

PAPERS

–  “How Do Financial Constraints Affect Product Pricing? Evidence from Weather and Life Insurance Premiums”, Journal of Finance, 2022, 77 (1), 449-503.                                                  

–  “The Role of Financial Conditions in Portfolio Choices: The Case of Insurers”, with Michael Weisbach, Journal of Financial Economics, 2021, 142 (2), 803-830.

–  “Conflicting Interests and Fiduciary Duty—Evidence from Variable Annuities”, with Mark Egan, and Johnny Tang, Review of Financial Studies, 2022, 35 (12), 5334-5386. Winner of the 2023 TIAA Paul A. Samuelson Award                                               

– “The Effect of Insurance Premiums on the Housing Market and Climate Risk Pricing” with Ammon Lam and Ryan Lewis, Revise & Resubmit at Journal of Finance

–  “Physical Climate Risk Factors and an Application to Measuring Insurers' Climate Risk” with Hyeyoon Jung, Robert Engle, and Xuran Zeng Revise & Resubmit at Review of Financial Studies

– “The Hidden Effects of Climate Risk: Rising Insurance Premiums Increase Mortgage Delinquency and Drive Relocation to Safer Areas” with Stephanie Johnson and Nitzan Tzur-Ilan

–  “Does Loan Securitization Expose Borrowers to Non-Bank Investor Shocks?—Evidence from Insurers” with Abhishek Bhardwaj and Saptarshi Mukherjee (under journal review)

–  “How Do Health Insurance Costs Affect Low- and High-Income Workers?” with Janet Gao, Lawrence Schmidt, and Cristina Tello-Trillo (under journal review)

– “Real Effects of Financial Conditions: How Does Provider Financial Health Affect Opioid Prescription?” with Isil Erel and Pengfei Ma

SELECT WORK IN PROGRESS                                 

–  “How Insurance Drives Climate Risk Adaptation” with Ankit Kalda, Varun Sharma, and Vikas Soni

–  “Climate Risk, Insurance Premiums, and Institutional Ownership of Housing” with Stephanie Johnson and Nitzan Tzur-Ilan

–  “Are You Subsidizing Insurance in Risky Areas?” with Derek Wenning

–  “Climate Risk and Labor vs. Capital Investment” with Abhishek Bhardwaj and Manasa Gopal

SELECT SEMINARS  &  CONFERENCE  PRESENTATIONS

– 2025 (including scheduled): University of Pennsylvania | LSE | Brigham Young University | INSEAD | HEC (Paris) | University of Wisconsin–Madison | Bocconi University | University of St. Gallen | University of Zurich | CFPB | Baruch/JFQA Climate Conference | Risk Theory Society Annual Seminar | FSU Risk and Insurance Symposium Scotia Bank | 3rd Annual Symposium on Innovation & Sustainable Real Estate at Stern | Kellogg Innovations in Sustainable Finance Conference | Western Finance Association Annual Meeting (x2) | University of Maryland Junior Finance Conference | CEPR Climate Change and the Environment Symposium | Zurich-Bern Real Estate Workshop | BoE, Imperial, LSE Conference on Non-Bank Financial Sector and Financial Stability

– 2024: American Finance Association Annual Meeting | Columbia University | FDIC | ARIA | FSU Truist Beach Conference | Texas Finance Festival | Volatility and Risk Institute Annual Conference | University of Michigan | Fixed Income and Financial Institutions Conference | Remin University of China | Peking University | Tsinghua University | Hong Kong University of Science and Technology | University of Massachusetts Amherst

– 2023: NBER Summer Institute (Corporate Finance) | University of Chicago | Stockholm School of Economics (deferred) | Stanford Institute for Theoretical Economics (SITE), Financial Regulation | NBER Insurance Meeting | Drexel University | University of Miami | University of Iowa | Rutgers University | Federal Reserve Bank of New York | Department of the Treasury, Office of Financial Research | Office of the Comptroller | Federal Reserve Board of Governors | Federal Housing Finance Agency | WFA Early Career Women in Finance Conference | Florida State University Risk Management Research Symposium | E-Axes Young Scholars’ Webinar on Climate Finance and Economics

– 2022: American Finance Association Annual Meeting | Virtual Corporate Finance Seminar | University of Georgia | London Business School | Yale SOM | Dartmouth | Labor and Finance Conference | MIT Finance Junior Faculty Conference | New York University

– 2021: American Finance Association Annual Meeting | NBER Insurance Meeting | NFA | University of Hong Kong | Harvard Business School | Washington University in St. Louis | Temple University | HEC Paris

–  2020: University of California, Berkeley | Stanford University | University of North Carolina | New York University | Ohio State University | University of Amsterdam | Queen Mary University of London | European Finance Association Annual Meeting | Showcasing Women in Finance | WFA Early Career Women in Finance Conference

–  2019: New York University | University of California, Berkeley | Ohio State University | Case Western Reserve University | Fixed Income and Financial Institutions Conference | Finance Meets Insurance Conference | SFS Cavalcade

–  2018: University of Southern California | Northwestern University | University of Delaware | University of South Carolina | New York University | Harvard University | Emory University | University of Houston | University of Pittsburgh | University of Oregon | Tulane University | Women Assistant Professors of Finance Conference at NYU Stern (Early Ideas Session) | Five Rising Star Finance Conference at Columbia University | Drexel Corporate Finance Conference (Early Ideas Session) | 5th ECGC Workshop on Governance and Control PhD Symposium

– 2017: NBER Insurance Meeting | University of Arizona | Fordham University | University of Missouri | Cornerstone Research, Washington DC | China International Conference in Finance | Northern Finance Association Conference PhD Student Session | London Business School Trans-Atlantic Doctoral Conference | Risk Theory Society Annual Seminar | American Finance Association Annual Meeting PhD Student Session

PROFESSIONAL SERVICE

Faculty Advisory Board Member of Volatility and Risk Institute at Stern

Journal Referee:  Journal of Finance | Review of Financial Studies | Journal of Financial Economics | Review of Finance | Journal of the European Economic Association | Management Science | Journal of Financial and Quantitative Analysis | Journal of Financial Intermediation | Journal of Banking and Finance | Journal of Corporate Finance | Review of Corporate Finance Studies | Journal of Empirical Finance | Journal of Risk and Insurance

Book Review for Princeton University Press

Program Committee:  Western Finance Association | European Finance Association Annual Meeting | Financial Intermediation Research Society Conference | SFS Cavalcade

Program Committee Cochair of 2022 China International Risk Forum

Associated Editor of Asia-Pacific Journal of Financial Studies, since 2021

TEACHING  & ADVISING

–  Instructor: Corporate Finance (Upper-Class Undergraduate), New York University                2019-

–  Instructor: Corporate Finance (Upper-Class Undergraduate), The Ohio State University    2015                   

–  Teaching Assistant: Private Equity (MBA), The Ohio State University                      2014, 2015

PhD Student Advising

–  Ammon Lam (Cornerstone)

Research Assistant Placements

–  Jonas Peeters, Wharton Finance PhD Program

–  Yiwen Lu, Wharton Finance PhD Program

GRANTS,  AWARDS

TIAA Paul A. Samuelson Award                                                                                                 2023

NBER Market Frictions and Financial Risks Grant                                                                    2023

NYU Center for Global Economy and Business Research Grant                  2018-2021, 2023, 2024

NYU Center for Sustainable Business Faculty Research Grant                    2019, 2021, 2023, 2025

Best Ph.D. Student Award, Finance Department,  The Ohio State University                              2020

First Place in Business, 2018 Hayes Research Forum, The Ohio State University                     2018

Research Proposal Grant, the Risk Institute, The Ohio State University                                    2016

Small Grant Research Award, Fisher College of Business, The Ohio State University              2016

American Finance Association Doctoral Student Travel Grant                                                  2016

Distinguished University Fellowship, The Ohio State University                                     2011, 2016