Faculty Directory

Ing-Haw Cheng

Assistant Professor of Business Administration



DegreePhD, Princeton University, 2009; MA, Princeton University, 2006; BS, University of Chicago, 2001


Current Research Topics

Financial institutions, incentives, speculation in futures markets

Selected Publications

  • With A. Kirilenko and W. Xiong, “Convective Risk Flows in Commodity Futures Markets," Review of Finance, forthcoming.
  • “Yesterday's Heroes: Compensation and Risk at Financial Firms,” Journal of Finance, forthcoming. 
  • With S. Raina and W. Xiong, “Wall Street and the Housing Bubble," American Economic Review, 2014, 104(9), 2797-2829.
  • With W. Xiong, “Why Do Hedgers Trade So Much?,"Journal of Legal Studies, forthcoming.
  • With K. Milbradt, “The Hazards of Debt: Rollover Freezes, Agency, and Bailouts,” Review of Financial Studies, 25(4), 2012.
  • With E. French, “The Effect of the Run-Up in the Stock Market on Labor Supply,” Economic Perspectives (Federal Reserve Bank of Chicago), 2000.

Working Papers

  • "The Expected Returns to Fear,"
  • With W. Xiong, "The Financialization of Commodity Futures Markets,"
  • With K. Shue and H. Hong, “Do Managers Do Good with Other People’s Money?”
  • With A. Kirilenko and W. Xiong, “Convective Risk Flows in Commodity Futures Markets,”
  • “Corporate Governance Spillovers”


  • University of Michigan Mitsui Life Symposium, Best Discussant, 2013
  • University of Michigan Ross Teaching Excellence Award Finalist, 2011
  • BSI Gamma Foundation Grant, 2011
  • Princeton University Towbes Prize for Outstanding Teaching, 2008
  • Princeton University Department of Economics Fellowship, 2004–07
  • Princeton University Industrial Relations Section Fellowship, 2004–06

Professional Activities

Academic positions

  •  Tuck School of Business, 2013–present
  • Assistant Professor, University of Michigan, 2009–13
  • Teaching Assistant, Princeton University, 2007–09

Nonacademic positions

  •  Deloitte Consulting, 2001-2004
  • Federal Reserve Bank of Chicago, 2000

Editorial positions

  • Referee
    International Economic Review
    International Journal of Central Banking
    Journal of Finance

    Journal of Financial Intermediation
    Management Science
    Quarterly Journal of Economics
    Review of Economics and Statistics
    Review of Finance
    Review of Financial Studies