Magazine

• Nguyen, V.H. and Zhao, L. (2025, February). Single-Stock ETFs: High-Risk Bet or Strategic Investment Tool? Central California Business Review 

Publication

• Jain, P.K., Mishra, S., O'Donoghue, S. and Zhao, L., 2024. Trading Volume Shares and Market Quality: Pre-and Post-Zero Commissions. Journal of Empirical Finance. 79:101564. doi: https://doi.org/10.1016/j.jempfin.2024.101564.

• Zhao, L., Nguyen, V.H. and Li, C., 2024. The Volatility-Liquidity Dynamics of Single-Stock ETFs. Finance Research Letters, p.106163. https://doi.org/10.1016/j.frl.2024.106163 

• Nguyen, V.H., Zhao, L. and Mishra, S., 2024. Innovations in exchange-traded funds: a comprehensive analytical overview. American Journal of Finance and Accounting, 8(1), pp.57-80. https://doi.org/10.1504/AJFA.2024.139132

• Zhao, L., Vafai, N., Velazquez, M. and Amin, A., 2024. "Follow the Leader: How Culture Gives Rise to a Behavioral Bias That Leads to Higher Greenhouse Gas Emissions." Journal of Risk and Financial Management, 17(6), p.245. https://doi.org/10.3390/jrfm17060245 

• Zhao, L. and Parhizgari, A.M., 2024. "Climate change, technological innovation, and firm performance." International Review of Economics & Finance. https://doi.org/10.1016/j.iref.2024.04.025

• Diala, Lucy U., Le Zhao, Fernando Parra, and Lizhu Davis. 2023. “Does the HyFlex Learning Environment Affect Student Likelihood to Whistle-Blow on Academic Dishonesty?”. Journal of Leadership, Accountability and Ethics 2023 (20). https://doi.org/10.33423/jlae.v2023i20.6519.

• Talukdar, Bakhtear, Rafiqul Bhuyan, Shahid S. Hamid, and Le Zhao. 2022. "Intraday Transactions, Volume and Volatility in Pre-and Post-Decimalization Regimes." Quarterly Journal of Finance and Accounting 60, no. 3/4: 101-146. https://www.jstor.org/stable/27224941

• Mishra, Suchismita, and Le Zhao. 2021. "Order Routing Decisions for a Fragmented Market: A Review" Journal of Risk and Financial Management 14, no. 11: 556. https://doi.org/10.3390/jrfm14110556

Working Papers

When the Fed Speaks, Where Do Traders Go? The FOMC’s Impact on REIT Trading Venues with Vinh Huy Nguyen, Suchismita Mishra, and William Hardin

Presentations

• 2025 Global Finance Association

• 2025 The Western Decision Sciences Institute Annual Conference

• 2025 Eastern Finance Association Annual Meeting

• 2024 Financial Management Association Annual Meeting

Macro Sentiment Risk and Hedge Fund Returns. with Mustafa O. Caglayan, Mehmet I. Canayaz, and Timothy Simin

SSRN link

Presentations

• 2024 Eastern Finance Association Annual Meeting

• 2022 Financial Management Association Annual Meeting

Market Fragmentation Impacts of Manipulation: Critical Role of Retail Trade. with Douglas Cumming, Shan Ji and Suchismita Mishra

2024 WDSI Best Paper Award in the Empirical 

Presentations

• 2024 Academy of Financial Research, Zhejiang University, China

• 2024 Eastern Finance Association

• 2024 Southwestern Finance Association

• 2024 The Western Decision Sciences Institute Annual Conference

 Trading Venue Preference: Critical Role of Institutional Ownership. with Vinh Huy Nguyen, Suchismita Mishra and PK Jain

2022 WDSI Best Graduate Student Paper

Presentations

• 2022  Financial Management Association Annual Meeting

• 2022 The Western Decision Sciences Institute Annual Conference

• 2021 The workshop in Stockholm Business School Summer School in Market Microstructure 

Executive Equity-based Compensation, Risk, and Environmental Performance. with Michael Goldstein, Suchismita Mishra and Marcos Velazquez

Presentations

• 2025 MRS International Risk Conference

 Language, Uncertainty, and Foreign Direct Investment . with Xiaomeng Lu, Marcos Velasquez, and Ali Parhizgari

2021 SWFA Best Doctoral Paper Award in Investments 

Presentations

• 2021 World Finance Conference

• 2021 Academy of International Business

• 2021 Global Finance Association

• 2021 Eastern Finance Association

• 2021 Southwestern Finance Association

• 2021 Academy of Economics and Finance 

• 2020 Business Doctoral Student Association at FIU

Working in Progress