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Job Market Candidates

Jacelly Cespedes

Jacelly Cespedes is a doctoral candidate in Finance at the University of Texas at Austin. Her research interests are in corporate finance, financial intermediation, household finance, and fintech (peer-to-peer lending and crowdfunding). Jacelly’s job market paper examines the credit contract decisions made by borrowers, whether their credit choices are informative about their unobserved creditworthiness, and if lenders use this information when granting loans. She also has a working paper, coauthored with Carlos Parra, which analyzes peer effects among those working in the same occupation across firms, exploiting the setting of security analysts. Jacelly has experience teaching Investments to undergraduate students, and providing teaching assistance for Valuation and Corporate Finance to graduate students. Prior to her doctoral studies, Jacelly received an MBA from IESA, Venezuela, where she also worked as researcher in finance.


Qifei Zhu

Qifei Zhu is a doctoral candidate in finance at the University of Texas at Austin. Qifei received his undergraduate degree in Economics from Zhejiang University, and a Master's degree in Finance from Tulane University. His research focuses on mutual funds, institutional investors, and how financial markets affect corporate finance decisions. His job market paper examines how firms' bond issuance is affected by the credit supply on the corporate bond market. Particularly, he measured fluctuations in bond-market credit supply using fund flows to an issuer's existing bondholders. Qifei has two other working papers: the first one investigates the relation between institutional investors' horizons and their portfolio companies' ESG profile (joint work with Laura Starks and Parth Venkat); the second one examines how investors can short sell ETFs to circumvent short-sale constraints at stock-level (joint work with Weikai Li).