• YAN, Hong

    Chair Professor of Finance, Deputy Dean, GES Program Academic Director

  • Email:

    hyan@saif.sjtu.edu.cn

  • 　　

    　　

  • Support Staff:

    Xiaoyin Zhao

  • Support Staff Email:

    xyzhao2@saif.sjtu.edu.cn

  • Research Interests

    Asset pricing: corporate decisions and security returns; information and learning in financial markets; credit risk and returns on stocks and bonds; market liquidity; financial derivatives and risk management; portfolio choice, machine learning. Financial intermediaries: mutual funds, hedge funds, and financial analysts. Emerging markets: financial market development, role of foreign and/or institutional investors in these markets, especially in China, innovation finance. Sustainable finance: climate finance, carbon trade market, green finance, ESG.

Hong Yan is Chair Professor of Finance at Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University, where he serves as the Deputy Dean, the Academic Director of the Global Executive Scholars Program (GES), and the Director of China Hedge Fund Research Center and Center for Sustainable Investment . Before he joined SAIF full-time, Prof. Yan was a tenured faculty member at the Darla Moore School of Business in the University of South Carolina, USA. Previously, he was on the faculty at the University of Texas at Austin and spent a year as a visiting academic scholar at the U.S. Securities & Exchange Commission (SEC). He also held visiting appointments at the University of Hong Kong, the U.S. Federal Reserve Board and Cheung Kong Graduate School of Business.

Professor Yan holds a Ph.D. in Finance from the University of California, Berkeley, and a Ph.D. in Applied Physics from the University of Michigan. His research focuses on the areas of credit risk, asset pricing, derivatives securities, and investment management. He also studies financial intermediaries such as mutual funds, hedge funds and financial analysts. Prof. Yan has published in top academic journals such as Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. His research has been recognized by a Q-group Grant in 2007, the Crowell Prize in Investment Management in 2010 and a number of Best Paper Awards at international academic conferences.

Professor Yan served from 2012 to 2018 as a Managing Editor of the International Review of Finance, the journal for the Asian Finance Association and the Nippon Finance Association. He chaired the program committee for the China International Conference in Finance (CICF) in 2013 and 2014, and has served on program committees for several major international conferences. He reviews manuscripts for more than twenty internationally renowned academic journals in economics and finance. In addition, he sits on the advisory boards of several academic and financial institutions.


Journal Publications

1. Huang, Jennifer, Kelsey D. Wei, and Hong Yan, 2022, Investor learning and mutual fund flows, Financial Management.

2. Shan, Chenyu, Dragon Yongjun Tang, Hong Yan, and Xing Zhou, 2021, Credit Default Swaps and Bank Regulatory Capital, Review of Finance.

3. Tang, Dragon Yongjun, and Hong Yan, 2017, Understanding transactions prices in the credit default swaps market, Journal of Financial Markets.

4. Carlson, Murray, David A. Chapman, Ron Kaniel, and Hong Yan, 2017, Specification Error, Estimation Risk, and Conditional Portfolio Rules, International Review of Finance.

5. Tang, Dragon Yongjun, Feng Tian, and Hong Yan, 2015, Internal control quality and credit default swap spreads, Accounting Horizons.

6. Garlappi, Lorenzo, and Hong Yan, 2011, Financial Distress and the Cross-section of Equity Returns, Journal of Finance.

7. Tang, Dragon Yongjun, and Hong Yan, 2010, Market conditions, default risk and credit spreads, Journal of Banking and Finance.

8. Yan, Hong, 2009, Estimation Uncertainty and the Equity Premium, International Review of Finance.

9. Garlappi, Lorenzo, Tao Shu, and Hong Yan, 2008, Default risk, shareholder advantage, and stock returns, Review of Financial Studies.

10. Pavabutr, Pantisa, and Hong Yan, 2007, The Impact of Foreign Portfolio Flows on Emerging Market Volatility: Evidence from Thailand, Australian Journal of Management.

11. Ljungqvist, Alexander, Felicia Marston, Laura T. Starks, Kelsey D. Wei, and Hong Yan, 2007, Conflicts of interest in sell-side research and the moderating role of institutional investors, Journal of Financial Economics.

12. Huang, Jennifer, Kelsey D. Wei, and Hong Yan, 2007, Participation costs and the sensitivity of fund flows to past performance, Journal of Finance.

13. Tang, Dragon Yongjun, and Hong Yan, 2006, Macroeconomic conditions, firm characteristics, and credit spreads, Journal of Financial Services Research.

14. Yan, Hong, 2001, Dynamic Models of the Term Structure, Financial Analysts Journal.

15. Smith, A. P., J. K. Wiggs, H. Jónsson, Hong Yan, L. R. Corrales, P. Nachtigall, and K. D. Jordan, 1995, Si adatom binding and diffusion on the Si(100) surface: Comparison of ab initio, semiempirical and empirical potential results, The Journal of Chemical Physics.

16. Hu, X., Hong Yan, M. Kohyama, and F. S. Ohuchi, 1995, Electronic structure of beta -SiC surfaces, Journal of Physics: Condensed Matter.

17. Yan, Hong, Arthur P. Smith, and Hannes Jónsson, 1995, Atomic structure of β-SiC(100) surfaces: an ab initio study, Surface Science.

18. Yan, Hong, Xiao Hu, and Hannes Jónsson, 1994, Atomic structure of β-SiC( 100) surfaces: a study using the Tersoff potential, Surface Science.

19. Hoekstra, J., H. Jonsson, Hong Yan, and G. Kalonii, 1994, Structural variations in strained crystalline multilayers, Journal of Materials Research.

20. Yan, Hong, and Xiao Hu, 1993, Interfacial dynamics and formation of porous structures, Journal of Applied Physics.

21. Yan, Hong, 1992, Kinetic growth with surface diffusion: The scaling aspect, Physical Review Letters.

22. Yan, Hong, D. A. Kessler, and L. M. Sander, 1991, Anomalous fluctuations in surface growth, Journal of Physics A: Mathematical and Theoretical.

23. Sander, Leonard M., and Hong Yan, 1991, Temporal characteristics in nonequilibrium surface-growth models, Physical Review A.

24. Pla, O., F. Guinea, E. Louis, G. Li, L. M. Sander, Hong Yan, and P. Meakin, 1990, Crossover between different growth regimes in crack formation, Physical Review A.

25. Yan, Hong, David Kessler, and L. M. Sander, 1990, Roughening phase transition in surface growth, Physical Review Letters.

26. Yan, Hong, G. Li, and L. M. Sander, 1989, Fracture growth in 2d elastic networks with born model, Europhysics Letters.

27. Yan, Hong, and H. X. Jiang, 1988, Band structure of compensated n-i-p-i superlattices, Physical Review B.

28. Yan, Hong, A. R. Day, and M. F. Thorpe, 1988, Stability of networks under tension and pressure, Physical Review B.

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