CAI Yu_Tongji SEM CAI Yu_Tongji SEM
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Department: Accounting

Research Area: Mutual funds, Financial analysts, Corporate finance, Educational economics

PhD in Finance, China CPA certificate holder, CFA level three exam passed

  • 2011: PhD, the Division of Banking and Finance, Nanyang Business School, Nanyang Technological University, Singapore
  • 2005: M.A, Graduate School of the People’s Bank of China, Beijing (GSPBC)
  • 2002: B.A, University of International Business and Economics, China (UIBE)

Teaching Positions

  •  2013-Now: School of Economics and Management, Tongji University


  •   Mutual funds
  •   Financial analysts
  •   Mergers and acquisition


  •  Investments

Sponsored Research Projects

  • “Forecast pessimism and recommendation returns”, sponsored by Ministry of Education, 2014-2016

Selected Publications

  • Yu Cai, Bruce Chapman, and Qing Wang, 2018, Repayment Burdens of Mortgage-style Student Loans in China and Steps toward Income-contingent Loans, Economics of Education Review, forthcoming,
  • Yu Cai, Yanhui Jiang, Huifang Yin, and Huai Zhang, 2017, Do managers choose the proxy material delivery method strategically?, Journal of Accounting, Auditing & Finance0148558X17746858.
  • Zheng Qiao, Yu Cai, and Fanglei Chen, (2017), Ownership concentration and market reactions to asset sale announcements, Journal of Xiamen University (Arts and Social Sciences) (3), 67-77. (In Chinese)
  • Yu Cai, and Sie Ting Lau, 2015. Informed trading around earnings and mutual fund alphas. Journal of Banking & Finance 60, 168-180.