CAI Yu_Tongji SEM CAI Yu_Tongji SEM
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Department: Accounting

Research Area: Mutual funds, Financial analysts, Corporate finance, Public policies.

Finance PhD, CFA, China CPA.

  • 2012: PhD, Nanyang Business School, Nanyang Technological University, Singapore
  • Dissertation committee: Prof Sie Ting Lau, Xin Chang, Stephen Dimmock
  • 2005: M.A, Graduate School of the People's Bank of China
  • 2002: B.A, University of International Business and Economics

Teaching Positions

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


  •   Mutual funds
  •   Financial analysts
  •   Corporate finance
  •   Public policies


  •  Investments
  •  Financial Management
  •  Corporate governance
  •  Empirical research methods in finance

Sponsored Research Projects

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

Selected Publications

  • Yu Cai, and Qing Wang. 2022. Money Funds Manage Returns. Pacific Basin Finance Journal, 71, 101682.
  • Yu Cai, Yanhui Jiang, Huifang Yin, and Huai Zhang. 2020. Do managers choose the proxy material delivery method strategically? Journal of Accounting, Auditing & Finance, 35 (2): 379-405.
  • Yu Cai, Bruce Chapman, and Qing Wang. 2019. Repayment burdens of mortgage-style student loans in China and steps toward income-contingent loans. Economics of Education Review, 71, 95-108.
  • 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.
X Thank you for your interest in Master of Global Management, Tongji University!