CCFR

Research fellows
Chong-en Bai Ph.D. in Economics, Harvard University(1993); Ph.D. in Mathematics, University of California, San Diego(1988); B.S. in Mathematics, Chinese University of Science and Technology(1983). Associate Professor, University of Hong Kong. Taught at Boston College. Research and teaching: economics of organization, competitive strategy, finance and Chinese economy.

Quanwei (Charles) CAO Ph.D. in Finance, University of Chicago (1993); M.S. in Statistics, University of Kentucky (1988); B.S. in Applied Mathematics, Peking University (1984). David McKinley Executive Program Professor and Professor of Finance, Smeal College of Business Administration, Pennsylvania State University. Special Term Professor,Tsinghua University.Research and teaching interests: Investments, derivatives markets, market microstructure and mutual funds. His paper “Price Discovery without Trading: Evidence from Nasdaq Pre-opening” received the New York Stock Exchange Award for Best Paper on Equity Trading in 1999.

Bingzheng CHEN Ph. D. in Systems Engineering, Tsinghua University (1995). Master in Econometrics (1984), Renmin University of China. B.S in Mathematics, University of Science & Technology of China(1982). Professor,Tsinghua University. Research and teaching: risk management, insurance, and Systems Engineering, etc.

Taotao CHEN Ph.D. in Management,Tsinghua University(2003);Master in Finance, the Research Institute of the Ministry of Finance of China (1991). Bachelor in Economic, Tsinghua University.(1998) Associate professor, Tsinghua University. Research and teaching: FDI spillovers,globlization and strategy,international economics and managemnet,corporate Finance, business valuation and valuation of intangibles.

Yeung Lewis CHAN Ph.D. in Economics, Harvard University (2000); M.A. in Economics, Harvard University (1996); B.A. in Economics, University of Chicago (1994).Assistant professor of finance at Hong Kong University of Science and Technology. Worked at the National Bureau of Economic Research as a research assistant and at JP Morgan as a summer associate.Research and teaching.heterogeneity and asset pricing in financial markets, optimal asset allocation and real estate economics.

Xiao CHEN Ph.D. in Economics, Tulane University (USA) (1996); MS in Engineering, University of Science and Technology (China)(1989); B.A. in Engineering, Wuhan Chemical Institute(1983). Professor,Tsinghua University. Research and teaching: accounting and capital market, taxation and business strategy, corporate governance, financial reporting analysis and business valuation, management accounting and control.

Ruipeng DI Ph.D. in financial economics, University of New Orleans (1997); M.A. in international economics, Peking University (1989). Lecture, Tsinghua University. Taught at Beijing Foreign Studies University and University of New Orleans. Research and teaching: corporate finance, investment management.

Bin GAO Ph.D. in Finance, New York University (1996); M.A. in Astrophysics, Princeton University (1991); B.Sc. in Space Physics, University of Science and Technology of China (1985). Associate Professor，University of North Carolina. Research and teaching: investment, derivatives, efficient option pricing, term structures, asset pricing, exchange rate dynamics and real estate finance.

Yongmiao Hong Ph.D. in Economics, University of California, San Diego (1993); M.A. in Economics (1988), B.S. in Physics, Xiamen University (1985). Professor, Cornell University. Special Term Professor, Tsinghua University. Research and teaching: econometric theory, non-parametric econometrics, nonlinear time series analysis, and financial econometrics.

Haizhou HUANG Ph.D. in Business (Business Economics and Finance), Indiana University (1994); M.S. in Systems Engineering, University of Shanghai for Science and Technology (1987); B.S. in Electrical Engineering, Hefei University of Technology (1983). Senior Economist, Monetary and Exchange Affairs Department, International Monetary Fund. Special Term Professor, Tsinghua University. Taught at London School of Economics. Research and teaching: corporate finance, banking and financial institutions, financial regulation and financial crisis, monetary economics, and international finance.

David D LI Ph.D. in economics, Harvard University (1992); B.E. in Economics and Management, Tsinghua University (1985). Professor, Tsinghua University. Associate Professor, Hong Kong University of Science and Technology. Taught at University of Michigan. Research and teaching: economics of transition, corporate finance, international economics and China's economy.

Yan LI Ph.D in Finance, Renmin University of China (1996). Professor of finance, Renmin University of China. Research and teaching: monetary policy, banking, investment, etc.

Zhiwen Li Ph.D. in Economics, University of Rochester (1977); M.A. in Economics, National Taiwan University (1970); B.B.A. in Accounting and Finance, National Taiwan University (1966). Special term Professor, Tsinghua University; Freeman Distinguished Professor and Associate Dean, Tulane University; Research and teaching: information economics, analytical accounting theory, financial analysis, cost and strategy.

Li LIAO Ph.D. in Technology Economics, Tsinghua University(1996). MBA, Massachusetts Institute of Technology (1999). Professor of finance and Associate Dean,School of Economics and Management, Tsinghua University. Research and teaching: corporate finance, fund management, Financial Innovation, corporate governance etc.

Jianping MEI Ph.D. in Economics, Princeton University (1990); M.A. in Economics, Princeton University (1988); B.S. in Mathematics, Fudan University (1982). Professor of finance, New York University. Special Term Professor, Tsinghua University. Taught at the University of Amsterdam and University of Chicago. Research and teaching: international finance, asset pricing, real estate finance and banking.

Jun Pan Ph.D. in Finance, Graduate School of Business, Stanford University (2000); Ph.D. in Physics, New York University (1995); M.S. in Physics, Western Illinois University (1991); B.S. in Physics, Shanghai Jiao Tong University (1990). Assistant Professor of Finance, Sloan School of Management, Massachusetts Institute of Technology. Research and teaching: Asset Pricing, Empirical Finance, Econometric Methods, and Derivative Markets.

Yuhong PEI Master of Economics, Tsinghua University (1996); Bachelor of Economics , Tsinghua University (1993). Professor of Finance, Tsinghua University; Research and teaching: financial theories, international finance and financial market.

Yingyi Qian Ph.D. in Economics, Harvard University (1990); M.Phil. in Operations Research/Management science, Yale University (1984); M.A. in statistics, Columbia University (1982); B.S. (equivalent) in Mathematics, Tsinghua University (1981). Professor, University of California, Berkeley. Special Term Professor, Tsinghua University. Taught at Stanford University and University of Maryland. Research and teaching: economics of organization and institution, economics of transition, China's reform and development.

Fengming (Fred) SONG Ph. D. in Systems Engineering, Tsinghua University (1988). Master in management, Shanghai Jiao Tong University (1982). Professor in finance, Tsinghua University. Research and teaching: Financial Engineering, Financial Economics, etc.

Hong WANG Master in Science in Real Estate Development, Massachusetts Institute of Technology (1993); Master in Engineering in Architectural Design, Tsinghua University (1989). A ssociate Professor of Finance, Tsinghua University. Research and teaching: real estate finance and investment, asset valuation and project finance, property market forecasting, applications of information technology, real estate policy and law, etc.

Jiang WANG Ph.D. in Finance, University of Pennsylvania (1990); Ph.D. in Physics, University of Pennsylvania (1985); B.S. in Physics, Nanjing University (1981). NTU Professor of Finance, MIT; Special Term Professor, Tsinghua University. Research Associate, National Bureau of Economic Research. Research and teaching: financial theories, asset pricing and microstructure of financial markets.

Jun WANG M.S. in Economics, Peking University(1998); B.S. in Computer Science, Northern Jiaotong University(1995). Lecture of Finance, Tsinghua University. Research and teaching: corporate finance, risk management, insurance economics and financial market.

Tan WANG Ph.D. in Economics, University of Toronto (1992); M.A. in Economics, University of Toronto (1988); MSc. in Operations Research, Chinese Academic of Sciences; B.Sc. in Computer Science, Beijing Institute of Economics (1982). Professor, University of British Columbia. Taught at the Sloan School of Management, MIT. Research and teaching: asset pricing, theory of decision under risk and uncertainty, investment, and risk management.

Shangjin Wei Ph.D in Economics, University of California, Berkeley (1992); MS in Business Administration (Finance), University of California, Berkeley (1991); MA in Economics, Pennsylvania State University (1988); BA in World Economy, Fudan University (1986). Advisor and Head of Trade Unit, Research Dept., International Monetary Fund. Senior Fellow, The Brookings Institution. Faculty Research Fellow, National Bureau of Economic Research, Cambridge, MA. Taught at Harvard University. Research and teaching: International Finance, Governance and Government Reform, International Integration, East Asian Economies, Open-economy Macroeconomics, Political Economy of Transition Economies.

Donglin Xia Ph.D. in Systems Engineering, Research Institute of Fiscal Science of the Ministry of Finance(1989); MS in Accounting Research Institute of Fiscal Science of the Ministry of Finance(1986); B.S. in Accounting, Jiangxi University of Finance and Economics(1984). Professor of Accounting, Tsinghua University. Research and teaching: financial reporting and corporate governance, accounting standards, comparative accounting.

Chenggang Xu Ph.D. in Economics, Harvard University (1991); M.S. in Mechanical Engineering, Tsinghua University (1982). Lecturer (with tenure, equivalent to Associate Professor), London School of Economics. Special Term Professor, Tsinghua University. Research and teaching: law and finance

Xin YANG B.S. in Automatic Control, Tsinghua University (1963). Professor of Finance, Tsinghua University(1985-). Research and Teaching: financial investment and international cooperation, investment, foreign debt management.

David Yao Ph.D. in Industrial Engineering and Operations Research, University of Toronto (1983); M.A.Sc. (1981). Thomas Alva Edison Professor, Columbia University; Special Term Professor, Tsinghua University. Taught at Harvard University. Research and teaching: queuing networks, discrete event stochastic systems, applied probability, operations management, etc.

Chun CHANG Ph.D. in Managerial Economics and Decision Sciences, Northwestern University (1987); M.S. in Mathematics, University of Oregon (1983); B.S. in Mathematics, East China Normal University (1982). Associate Professor of Finance, University of Minnesota; Special Term Professor, Tsinghua University. Taught at the Northwestern University. Research and teaching: corporate finance, bank regulation and financial institutions, theory of organizations, labor economics and Asian economic reforms and development.

Lihong Zhang Postdocatoral in Probability and Mathematical Statistics, Peking University(2001); Ph.D. in Probability and Mathematical Statistics, Institute of Applied Mathematics, the Academy of Science of China (1999); Master Degree in Probability and Mathematical Statistics, Nankai University (1991); B.S. in Probability and Mathematical Statistics, Nankai University (1988). Associate Professor, Tsinghua University. Research and teaching: Stochastic Process, Stochastic analysis, Risk theory, Financial Economics and Mathematical Finance.

Ning Zhang Ph.D. in Economics, Princeton University (1997); M.A. in Economics, Princeton University (1995); M.S.E. in Statistics and Operational Research, Princeton University, (1993); B.S. in Probability and Mathematical Statistics, Beijing (Peking) University (1991). Research and teaching: corporate finance, asset pricing, macroeconomics, international finance, public finance, organizational economics, optimization, and econometrics.

Taowei ZHANG Ph.D. in Management, Tsinghua University (2000). Associate Professor, Tsinghua University. Research and teaching: international finance, investment banking.

Dongqing ZHAO Master in Finance, Tsinghua University (1997), B.S. in Electrical Engineering, Tsinghua University (1994). Lecturer, Tsinghua University. Research and teaching: banking and financial institutions, fixed income.

Guofu ZHOU Ph.D. in Economics, Duke University (1990); M.A. in Mathematics, Duke University (1987); M.S. in Numerical Analysis, Academia Sinica, (1985), B.S. in Mathematics, Chengdu College of Geology (1982). Associate Professor, Washington University. Special Term Professor, Tsinghua University. Research and teaching: financial econometrics, asset pricing, options and futures, derivatives, real options, corporate finance, financial economics, etc.

Shiwu ZHU Postdoctoral in Finacial Engineering, Tsinghua University. Ph.D. in Economics, Shanghai University of Finance and Economics (1999); M.S in Statistics, Wuhan University (1987); B.S in Mathematics, Henan Normal University (1983). Associate Professor of Finance, Tsinghua University; Senior consultant for SAS INSTITUTE. Research and teaching: fixed income, credit derivatives, credit risk measurement, financial computation and data mining.

Wuxiang ZHU Ph.D. in Economics, Tsinghua University (2002); M.S. in Industrial Economics, Tsinghua University(1989); B.S. in Management Information System ,Tsinghua University (1987). Professor of finance, Tsinghua University. Research and teaching: Corporate Finance , Investment Valuation.

Yingzi ZHU MBA, Stern School of Business, New York University(2002); Ph.D. in Mathematics, Courant Institute, New York University (1997); M.S. in Physics, New York Unversity(1993);B.S. in Modern Physics, University of Science and Technology of China(1991); Associate Professor of Finance, Tsinghua University. Research and teaching: financial engineering and finacial innovation.