Charles Cao is the Smeal Chair Professor of Finance of Smeal College of Business and he is also the Chair Professor of Finance of Tsinghua SEM. His principal fields of interest focus on Derivative Securities, Market Microstructures, Hedge Funds, Credit Risk, and Mutual Funds. He has written numerous scholarly articles, which have appeared in many publications including Journal of Financial Markets, Journal of Futures Markets, Financial Analyst Journal, Review of Financial Studies, Journal of Banking and Finance, Journal of Financial Research, Review of Derivatives Research, Journal of Business and so on.