Jeffrey Zhang

Ting (Jeffrey) Zhang


Dr. Zhang joined the SBA faculty in August 2009 and currently teaches Investments, Portfolio Management & Securities Analysis, and Options & Futures Markets courses.  He has been awarded teaching grants from Spencer Educational Foundation, as well as research grants from external resources including the W.E. Upjohn Institute for Employment Research and the prestigious European research institute Netspar (Network for Studies on Pensions, Aging and Retirement). Dr. Zhang also has rich industry experiences as a foreign exchange trader and stock analyst, and is actively involved in the Dayton CFA Society and the CFA Institute. Working with Professor Nancy Mohan, Dr. Zhang has helped the UD-SBA undergraduate finance curriculum garner CFA recognition. 


  • Ph.D. Finance – University of Rhode Island
  • MBA/Master of Accounting – University of Northern Iowa
  • B.A. Economics – Shanghai International Studies University

Teaching Philosophy

I combine academic research and professional knowledge in the classroom, and encourage students to apply the financial theories they learn about to real-world issues facing corporations and organizations in global business environments.

Research Interests

Public and private pension funds, investments, corporate finance and corporate governance.

Notable Publications

  • Mohan, N., Zhang, T. (2014). "An Analysis of Risk-Taking for Defined Benefit Public Pension Plans." Journal of Banking and Finance, 40, 403-419.
  • An, H., Lee, Y., Zhang, T. (2014). "Do Corporations Manipulate Earnings to Meet or Beat Analysts' Expectations? Evidence from Pension Plan Assumption Changes." Review of Accounting Studies, 19(2), 698-735.
  • Chen, X., Yao, T., Yu, T., Zhang, T. (2014). "Learning and Incentive: A Study Based on Analyst Response to Pension Underfunding." Journal of Banking and Finance, 45, 26-42.
  • Chen, X., Yu, T., Zhang, T. (2013). "What Drives Corporate Pension Plan Contributions: Moral Hazard or Tax Benefits?" Financial Analysts Journal, 69(4), 58-72.
  • Huang, Z., Heian, J., Zhang, T. (2011). Difference of Opinion, Overconfidence, and the High-volume Return Premium. Journal of Financial Research, 34(1), 1-25.

Impact on Practice

Dr. Zhang’s research on public/private pension funds is making an important impact in the finance and investment areas. He was interviewed by the CFA Institute for his views on corporate pension contributions, and his work was featured in the CFA Digest. Dr. Zhang’s work (coauthored with colleague Nancy Mohan) on state government pension funds risk-taking was featured by the W.E. Upjohn Institute for Employment Research website and its newsletter. His research is widely cited by numerous websites, including,,, and


School of Business Administration

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Dayton, Ohio 45469 - 2226
School of Business Administration