LI Zhisheng is a distinguished professor and doctoral supervisor at Zhongnan University of Economics and Law. He is currently the Vice President at Southwest University of Finance and Economics, the Director of the Finance 111 Base, and the Executive Vice Director of the Collaborative Innovation Center of Industry Upgrading and Regional Finance (Hubei). His major research areas include financial innovation, financial development, financial risks, and market microstructure. He has led many major projects funded by the National Social Science Foundation, the National Natural Science Foundation and many others. He has published more than 50 papers in journals such as Economic Research, China Economic Quarterly, Financial Research, Journal of Management Science, Journal of Futures Markets, and Pacific-Basin Finance Journal. His research achievements have won many awards, such as the First Prize for Outstanding Achievements in Decision Support Work of the Hubei Provincial Committee, the Second Prize for Outstanding Achievements in Social Sciences in Hubei Province, etc. He has been selected for national talent programs such as the Youth Talent Program and the New Century Excellent Talents Program of the Ministry of Education, the Hubei New Century High-Level Talents Program, and has won many honors including the HUO Yingdong Young Teacher Award, the Hubei Famous Teacher, the Fourth Hubei Outstanding Postdoctoral Fellow, and the Fourth Young Financial Scholars of the China Financial Museum. 

 

Research Interests

Behavioral Finance, Market Microstructure, Financial Innovation

 

Ecudation

2003/8-2006/12, Rensselaer Polytechnic Institute, Decision Science and Engineering Systems, Ph.D.

2000/9-2003/6, Huazhong University of Science and Technology, Financial Management, Master's degree

1998/9-2000/6, Huazhong University of Science and Technology, Financial Management, Bachelor's degree

1996/9-2000/6, Huazhong University of Science and Technology, Mechanical Manufacture, Bachelor's degree

 

Professional Experiences

2010/12-present, Professor, School of Finance, Zhongnan University of Economics and Law

2007/12-2010/12, Associate Professor, School of Finance, Zhongnan University of Economics and Law

2006/10-2007/12, Lecturer, School of Finance, Zhongnan University of Economics and Law

2009/4-2011/4, Postdoctoral Fellow, School of Economics and Management, Tsinghua University

 

Teaching

Undergraduate courses: "Financial Engineering" and "Numerical Calculation and Financial Simulation"

Graduate course: "Research on Financial Engineering"

Courses for international students: "Financial Derivatives"

 

Social Service

1. Director, Chinese Society of Financial Engineering

2. Director, China International Finance Association

3. Review expert, Management Science Division of the National Natural Science Foundation of China

4. Review expert, High-Level Visiting Scholar Program of China Scholarship Council

5. Review expert, National Scholarship Program for Graduate Studies of China Scholarship Council

6. Review expert, China Postdoctoral Science Foundation

7. Reviewer, following academic journals: Applied Economics (SSCI), Emerging Markets Finance and Trade (SSCI), China Finance Review International, Economic Research, Financial Research, Journal of Management Science, World Economy, International Finance Research, Financial Review, Tsinghua Journal, Journal of Systems Engineering and Electronics, Securities Market Herald, Journal of Zhongnan University of Economics and Law

8. Faculty Advisor, Financial Management Association (FMA) Chapter at Zhongnan University of Economics and Law

 

Representative Publications

[1] Security Supply and Bubbles: A Natural Experiment from the Chinese Warrant Markets. 2016, under review. (with Li Liao, Weiqiang Zhang, and Ning Zhu)

[2] Short Selling and Price Efficiency: Evidence from China. 2016, under review. (with Bingxuan Lin, and Ting Zhang)

[3] A Comprehensive Wealth Allocation Framework for Individual Investors with Multiple Objectives. 2015, under review. (with Aparna Gupta)

[4] Exercise to Lose Money: Irrational Exercise Behavior from the Chinese Warrants Market. Journal of Futures Markets, 2014, 34 (5), 399-419. (with Li Liao, Weiqiang Zhang, and Ning Zhu, SSCI)

[5] Does the Location of Stock Exchange Matter? A Within-Country Analysis. Pacific-Basin Finance Journal, 2012, 20 (4), 561-582 (with Li Liao, Weiqiang Zhang, and Ning Zhu, SSCI)

[6] Optimal Annuity Purchase Decisions Under Uncertain Lifetime.Journal of Family Economics and Economics Issues, 2013, 34 (4), 447-459. (with Aparna Gupta)

[7] Calibrating of Individual Health Evolution Model for Healthcare Financing Decisions. Physica A: Statistical Mechanics and its Applications, 2011, 390 (20), 3524-3540. (with Aparna Gupta, SCI)

[8] Integrating Optimal Annuity Planning with Consumption-Investment Selections in Retirement Planning. Insurance: Mathematics and Economics, 2007, 41 (1), 96-110. (with Aparna Gupta, SSCI)