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    Zhang Xiaorong

    Associate Professor

    Finance

    Add: Guoshun Road Siyuan Building Room 214, Siyuan Building

    Tel: +86-21-25011088

    E-mail: xrzhang@fudan.edu.cn

    Research Field: Financial Markets, Corporate Finance, Financial Risk Management, Multinational Financial Management

    Website:

    Teacher information
    Achievements in scientific research
    Academic activities and community service

    Educational Background

    Doctor Degree, Management Science and Engineering, Fudan University

    Master Degree, Computer Science and Engineering, Southeast University

    Bachelor Degree, Computer Science, East China Normal University

    Academic Background

    2008.08——2009.07, Visiting Scholar, Columbia University, USA

    2000.08——2000.12, Visiting Scholar, MIT Sloan School of Management, USA

    Awards on Research

    2011.11, The Excellent Paper Award for 2011 International Workshop on Management Theory and Practice, College of Management, National Taiwan University and School of Management, Fudan University

    2007.06, The Prize of Shanghai Municipality for the Decision-making Consultation Research Achievement, Third Prize, Shanghai Municipal Government

    2004.09, Award of Shanghai Outstanding Achievements in Philosophy and Social Science, Second Prize, Planning Office of Philosophy and Social Science in Shanghai

    Awards on Teaching

    2013.06, Excellent Course Development Project, Fudan University2013.09, Exampler English-teaching Course Development Project (for Undergratuate), Shanghai Educaional Committee2013.12, Excellent Course Development Project, Shanghai Education Committee2014.09, Exampler English-teaching Course Development Project (for International Students), Shanghai Educational Committee2016.12, Excellent English-teaching Course for International Students in China, China Ministry of Education

    Journal Papers


    1.Zhiguo Li and Xiaorong Zhang. 2014. Evaluating the effectiveness and efficiency of the four-trillion yuan stimulus package: Evidence from stock market returns of Chinese listed A shares. Global Economic Review: Perspectives on East Asian Economies and Industries 43(4) 381-407.  



    2.Kun Yu, Zhiguo Li, Xiaorong Zhang, and Jiangang Xu. 2014. Investment efficiency puzzle: Financial constraint hypothesis and monetary policy shock. Economic Research Journal (5) 106-120. (in Chinese) 



    3.Jun Ma, Xiaorong Zhang, and Zhiguo Li. 2013. The research results of government balance sheets and its application. Scientific Development (12) 9-18. (in Chinese) 



    4.Ma, Jun, Xiaorong Zhang, Zhiguo Li, Mingzhi Xiao, Jiangang Xu, and Dong He. 2012. Managing the medium-and-long-term risks in China’s assets and liabilities. Caijing Magazine (15) 72-81. (in Chinese) 



    5.Zhiguo Li, Xiaorong Zhang, Jiangang Xu. 2010. The Interactive Relation between Capital Formation and Monetary Expansion: Explanation of Economic Growth in China. China University Academic Abstracts vol.27(4) 172-173. (in Chinese) 



    6.Zhiguo Li, Xiaorong Zhang, Jiangang Xu. 2010. The Interactive Relation between Captial Formation and Monetary Expansion: Explanation of Economic Growth in China. Journal of Fiannce and Economics vol.36(6) 36-45、68. (in Chinese) 



    7.Xiaorong Zhang, Jiangang Xu, Zhiguo Li. 2010. Risks in China's Holding of US Financial Assets. World Economy Study (5) 21-26. (in Chinese) 



    8.Jiangang Xu, Yi Wu, Xiaorong Zhang. 2009. RMB/USD Forward Exchange Risk Premium: an Empirical Research. Journal of Fudan University (Natural Science) Vol.48(6) 693-699. (in Chinese) 



    9.Zhiguo Li,Xiaorong Zhang. 2009. The Endogenous Mechanism of China's Money Supply During Transition:Evidence from Central Bank's Balance Sheet. Statistical Research Vol.26(6) 13-22. (in Chinese) 



    10.XU Jiangang, ZHANG Xiaorong, SONG Peng. 2009. Time-Varying Beta Asset Pricing Model: a Test Based on Individual Stocks. Journal Of Fudan University(Natural Science Edition) Vol.48(2) 260-270,276. (in Chinese) 



    11.XU Jiangang, ZHANG Xiaorong, LI Zhiguo. 2007. Mixed Data Sampling Volatility Model. the Journal of Quantitative& Technical Economics vol.24(11) 77-85. (in Chinese) 



    12.ZHANG Xiaorong, XU Jiangang, QIU Shiliang. 2007. Time-varying Liquidity and Market Depth. Journal of Fudan University(Natural Science) vol.46(2) 256-261. (in Chinese) 



    13.ZHANG Xiaorong, HUANG Bei　. 2006. The Chance of Chinese SMEs in Taking Advantage of Private Equity: A New Financing Channel for SMEs in China. Review of Economic Research （63） 22. (in Chinese) 



    14.ZHANG Xiaorong, HUANG Bei. 2006. Private Equity: A New Financing Channel for SMEs in China. Zhejiang Finance （6） 27-29. (in Chinese) 



    15.ZHANG Xiaorong, XU Jiangang. 2006. VaR, ES and Coherent Risk Measure,. Shanghai Management Science （4） 78-80. (in Chinese) 



    16.Zhang Xiaorong, Tang Guoxing, Xu Jiangang. 2005. Complex Rational Positive Feedback Model in Speculative Bubble. Journal of Financial Research （8） 85-98. (in Chinese) 



    17.ZHANG Xiaorong, XU Jiangang. 2005. Empirical Test on Rational Speculative Bubbles on Yen Exchange Rates. Journal of Fudan University(Natural Science) vol.44(2) 240-245. (in Chinese) 



    18.ZHANG Xiaorong, SHAO Hua. 2004. An Analysis of the Role of Capital Structure in the Corporate Governance in Chinese Listed Companies. Shanghai Management Science （5） 57-59. (in Chinese) 



    19.Zhang Xiaorong, Xu Jiangang. 2003. Empirical Test on Rational Speculative Bubbles in Shanghai and Shenzhen Stock Exchange, Shanghai Management Science. Shanghai Management Science （6） 31-33. (in Chinese) 



    20.ZHANG Xiaorong. 2003. An Analysis of the Determinants of Implied Volatility Smile. Shanghai Management Science （4） 7-9. (in Chinese) 


    Conference Proceedings


    1.Zhang, Xiaorong, Jiangang Xu and Zhiguo Li. 2011. Financial stability and interest rate adjustment in asset price boom-bust cycles. 211 International Conference on Electronics, Communications and Control Ningbo 3453-3460.  



    2.Jiangang Xu, Xiaorong Zhang, Zhiguo Li, Guoxing Tang. 2009. China's Holdings of U.S. Assets: Size and Structure. Proceedings of The Second China Private Economy Innovation International Forum Taizhou, China 721-727.  


    Academic Works

    Ma, Jun, Xiaorong Zhang, and Zhiguo Li etc.. 2012. A Study of China's National Balance Sheet. Social Sciences Academic Press, Beijing. 

    ZHANG Xiaorong. 2007. Asset Price Bubbles. Shanghai Finance and Economics University Press, Shanghai. 

    XUE Qiuzhi, HUANG Beiyan, LU Zhi, ZHANG Xiaorong. 2003. Behavioral Economics. Fudan University Press, Shanghai. 

    Papers in Books

    Ehtisham Aham and Xiaorong Zhang.Towards monitoring and managing subnational liabilities in China: Lessons from the balance sheet for county K.In .Fiscal Underpinnings for Sustainable Development in China.Springer,2018. 

    Yu, Kun, Zhiguo Li, and Xiaorong Zhang.Analyzing China's industrial structure and performance: Evidence from listed companies 2003-2009.In .Fudan Industrial Economic Review.格致出版社,2011. 

    HUANG Jianbing, ZHANG Xiaorong.Nonsynchronous Trading and Securities' Auto-correlation.In .The Econometric in 21th Century (Conference).Vol.6,2006. 

    Research Projects

    2018.11—2019.05, Principal Investigator, Financing the Sustainable Urban Transition in China and Mexico, LSE Enterprise Ltd


    Academic Conferences

    2017.09, ABFM’s 29th Annual Research Conference, Washington, DC, USA

    2015.01, Conference for Financing Local Investments within a Sustainable Development Strategy for P. R. China, Guangzhou

    2011.08, Singapore Economic Review Conference 2011, Singapore

    2010.12, The Hong Kong Polytechnic University International Research Forum, Hong Kong

    2010.06, The 8th NTU International Conference on Economics, Finance and Accounting, Taipei