Jasper Pan, PhD
Jasper Pan, PhD
Embedded Files
I am a tenure-track Assistant Professor of Finance at The College of New Jersey. I received my PhD in Finance from Rutgers University, an MA in Economics from Vanderbilt University, and a Bachelor of Arts and Science in Applied Mathematics and Economics from the University of California, Los Angeles.
My research studies how regulation, market structure, and technological change shape risk and capital allocation. I focus on banking, financial intermediation, and corporate finance, with work on bank diversification, political alignment and risk-taking, cryptocurrency markets, and generative AI’s effects on credit markets, investment, and labor. I am particularly interested in how these forces translate into firm behavior and financial stability.
I teach FinTech, Investments, and Corporate Finance at The College of New Jersey and FinTech, AI, Business, Finance, and Economics at Columbia University.
Email: panja@tcnj.edu | CV | SSRN | Google Scholar | LinkedIn
Artificial Intelligence and Corporate Finance
This research agenda studies how generative AI reshapes corporate finance by tracing its impact from credit market pricing to firm investment decisions and ultimately to workforce dynamics, providing a unified view of disruption risk, real adjustment, and underlying mechanisms.
When Disruption Spreads: Gen AI and Corporate Borrowing Costs
(with Priyank Gandhi, Juntai Lu, Alberto Plazzi, and Jia Wei)
Firms with higher AI exposure experience significant bond spread widening, especially among lower-credit-quality and labor-intensive firms.
Selected Presentations: EasternFA Early Career Forum (2026)
Generative AI and Corporate Investment
(with Priyank Gandhi, Simi Kedia, Juntai Lu, and Jia Wei)
Firms with greater AI exposure reduce capital expenditures and acquisitions, consistent with investment adjustments under uncertainty and technological change.
Generative AI and Corporate Workforce Dynamics
(with Priyank Gandhi, Juntai Lu and Jia Wei)
We examine how AI exposure affects hiring, turnover, and labor composition, providing evidence on the mechanisms through which AI reshapes firm outcomes.
Banking and Financial Intermediation
Banking and Financial Intermediation
Do Measures of Bank Diversification "Measure Up"?
(with Priyank Gandhi and Darius Palia)
We develop a correlation-adjusted entropy measure of diversification that predicts higher profitability and lower risk.
Selected Presentations: AFA Junior Faculty Mentorship Program (2026), MFA (2026), FMA (2025)
Executive Political Alignment and Bank Risk-Taking
(with Priyank Gandhi, Simi Kedia, and Juntai Lu)
Political alignment is associated with economically meaningful increases in bank risk-taking.
Bank Business Line Diversification and Lending
(with Alan Chernoff and Juntai Lu)
Diversified banks exhibit stronger lending growth and greater resilience during downturns.
Financial Market Structure and Digital Assets
Financial Market Structure and Digital Assets
Exchange Heterogeneity in Cryptocurrency Volatility and Price Jumps
(with Alan Chernoff, Le "Tim" Dong, and Juntai Lu)
We document substantial cross-exchange heterogeneity in volatility and price jumps driven by liquidity and trading frictions.
Block Size, Miners Discretion, and Blockchain Adoption
(with Le "Tim" Dong)
Blockchains with lower throughput dominate because cheaper verification enables more monitoring, constrains miner discretion, and increases adoption and valuation.
Page updated
Google Sites
Report abuse