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【Working Papers】

•  Multi-agent deep reinforcement learning for arbitrage in decentralized exchanges. (with Haodong Wang, John R. Birge)  

•  Profitability of collusive sandwich attack in automated market maker-based decentralized exchanges (with Haodong Wang, John R. Birge)  

•  Agent-based modeling of stock market manipulation: an experiment in China (with Jiaqi Wen, Daniel Houser)

•  Agent-based modeling of cooperative manipulation between futures market and spot market (with Junchao Chen, Jing Chen and He He)

•  A multifactor model using large language models and investor sentiment from photos and news: new evidence from China  (with Ziyan Zhang, Jiaqi Wen)

•  Modelling High-Frequency Oil Market Volatility and Investor Sentiment Using Hawkes and Contact Processes  (with Jiaqi Wen)

•  Agent-based modeling of carbon emission trading market with heterogeneous agents (with Junjie Ge, Jiaqi Wen)

•  A network analysis of shareholders' co-holding behavior in Chinese listed energy companies during market crashes (with Wentao Wang)

【Books】

• 张军欢 主编. 区块链金融[M]. 北京: 首都经济贸易大学出版社, 2023.

• 赵尚梅, 张军欢 主编. 健康保险与大数据应用[M]. 北京：中国财政经济出版社, 2018. (入选《“十三五”国家重点图书、音像、电子出版物出版规划》)

【Refereed Journal Papers】

• Junhuan Zhang⋆, Kewei Cai, and Qiuhong Zhao. Receipt Pledge Financing using Blockchain Data Asset . International Review of Financial Analysis, 102 :104104, 2025

• Changchun Feng, Lin Chen, Junhuan Zhang⋆, and Jiaqi Wen. Quantum-like model on multiple lotteries selection . International Journal of Quantum Information, 23(02) :2450049, 2025

• Junhuan Zhang⋆, Zhengyong Zhao, and Ran Ji. Agent-based modeling of Ethereum consensus short- range reorganization attacks . Blockchain, 3(2) :0008, 2025

• Junhuan Zhang⋆, Haodong Wang, Jing Chen, and Anqi Liu. Cryptocurrency price bubble detection using log-periodic power law model and wavelet analysis. IEEE Transactions on Engineering Management, 71 :11796–11812, 2024

• Junhuan Zhang⋆, Kewei Cai, and Jiaqi Wen. A survey of deep learning applications in cryptocurrency.  iScience, 27(1) :1–40, 2024

  

• Junhuan Zhang⋆, Wanbing Gui, and Jiaqi Wen. China’s policy similarity evaluation using LDA model: An experimental analysis in Hebei province. Journal of Information Science, 50(2) :515–530, 2024  

•  Jianxin Wang, Cailing Huang, Lin Xu, and Junhuan Zhang. Drinking into friends : Alcohol drinking culture and CEO social connections. Journal of Economic Behavior & Organization, 212 :982–995, 2023  

• Junhuan Zhang⋆, Jiaqi Wen, and Jing Chen. Modeling market fluctuations under investor sentiment with a Hawkes-Contact process. The European Journal of Finance, 29(1) :17–32, 2023  

•  Junhuan Zhang⋆, Jiaqi Wen, and Zhen Yang.  China's GDP forecasting using Long Short Term Memory Recurrent Neural Network and Hidden Markov Model . PLOS ONE, 17(6) :e0269529, 2022  

•  Wentao Wang, Shangmei Zhao, and Junhuan Zhang⋆. Multi-asset pricing modeling using holding-based networks in energy markets. Finance Research Letters, 46 :102483, 2022  

•  Zhiyong Zheng, Yunfan Lu, and Junhuan Zhang. Multiscale complexity fluctuation behaviors of stochastic interacting cryptocurrency price model. Physica A : Statistical Mechanics and its Applications,  593 :126939, 2022  

•  Junhuan Zhang⋆ and Wenjun Huang. Option hedging using LSTM-RNN: an empirical analysis. Quantitative Finance, 21(10) :1753–1772, 2021  

•  Junhuan Zhang⋆, Yuqian Xu, and Daniel Houser. Vulnerability of scale-free cryptocurrency networks to double-spending attacks. The European Journal of Finance, 27(12) :1235–1249, 2021  

•  Meng Liu, Kaiping Luo, Junhuan Zhang, and Shengli Chen.  A stock selection algorithm hybridizing grey wolf optimizer and support vector regression. Expert Systems with Applications, 179 :115078,  2021  

•  Shangmei Zhao, Xinyi Chen, and Zhang, Junhuan Zhang⋆. The systemic risk of China's stock market during the crashes in 2008 and 2015. Physica A : Statistical Mechanics and its Applications, 520 :161–177,  2019  

•  Wentao Wang, Junhuan Zhang⋆, Shangmei Zhao, and Yanglin Zhang. Simulation of asset pricing in information networks. Physica A : Statistical Mechanics and its Applications, 513 :620–634, 2019  

• Hongli Niu, Weiqing Wang, and Junhuan Zhang⋆. Recurrence duration statistics and time-dependent intrinsic correlation analysis of trading volumes : A study of chinese stock indices . Physica A : Statistical Mechanics and its Applications, 514 :838–854, 2019

• Junhuan Zhang (2018), Influence of Individual Rationality on Continuous Double Auction Markets with Networked Traders . Physica A: Statistical Mechanics and its Applications, 495, 353-392. 

•  Junhuan Zhang⋆, Peter McBurney, and Katarzyna Musial. Convergence of trading strategies in continuous double auction markets with boundedly-rational networked traders. Review of Quantitative  Finance and Accounting, 50(1) :301–352, 2018  

•  Tiansong Wang, Jun Wang, Junhuan Zhang, and Wen Fang. Voter interacting systems applied to Chinese stock markets . Mathematics and Computers in Simulation, 81(11) :2492–2506, 2011  

•  Junhuan Zhang and Jun Wang. Modeling and Simulation of the Market Fluctuations by the Finite Range Contact Systems. Simulation Modelling Practice and Theory, 18(6) :910–925, 2010  

•  Junhuan Zhang, Jun Wang, and Jiguang Shao. Finite-Range Contact Process on the Market Return Intervals Distributions. Advances in Complex Systems, 13(05) :643–657, 2010  

•  Junhuan Zhang and Jun Wang. Fractal Detrended Fluctuation Analysis of Chinese Energy Markets.  International Journal of Bifurcation and Chaos, 20(11) :3753–3768, 2010