Short Bio

Haoxi YANG is an Associate Professor of Finance at the Lingnan College of Sun Yat-sen University. She earned her Ph.D. in Finance from Bocconi University in 2015. Before joining Lingnan College, she is the faculty at the School of Finance at Nankai University. Her research interests include financial asset pricing, macro-finance, fintech, and international finance. Her research paper has been published in renowned academic journals such as the Journal of Banking and Finance, Journal of Business and Economic Statistics, IMF Economic Review, the World Economy, and Review of International Economics, as well as journals in Chinese like Economic Research Journal, Finance & Trade Economics, and Nankai Economic Studies. Her research achievements have been recognized with awards including the Third Prize for Outstanding Scientific Research Achievements in Higher Education, the Second Prize for Social Science Papers in Tianjin, and the PwC 3535 Annual Excellent Paper Award. She has received research funds from the National Natural Science Foundation and serves as a reviewer for conferences such as the China International Financial Risk Forum (CIFR) and the Xiangzhuang Financial Forum, as well as for various international and domestic journals.

Employment

Associate Professor, Sun Yat-sen University, Lingnan College          Aug. 2024 –

Associate Professor, Nankai University, School of Finance               Jan. 2021 – Aug. 2024

Assistant Professor, Nankai University, School of Finance                Aug. 2015 – Dec. 2020

Education

Bocconi University,  Ph.D. in Finance           

University of British Colombia, Visiting Ph.D. student, Sauder School of Business, Finance Division

Xiamen University, WISE, M.S. in Finance          

Hunan University, B.S. in Finance

Research Statement and Selected Publications

1. Demographic Trends, the Rent-to-price Ratio, and Housing Market Returns,（with Yuansheng Wang, Zhizhen Chen, Yun Feng）， Journal of Banking & Finance, 2025, Volume 176, 107437.

2. Iterated Dynamic Model Averaging and Application to Inflation Forecasting,（with Sihan Chen, Lei Ming, Shenggang Yang）， International Review of Financial Analysis, 2025, Volume 102, 104095.

3. The Heterogeneous Impacts of Sudden Stops on Economic Growth,（with Zitong Xu, Wei Wang, Xiaoyun Fan）， Review of International Economics, 2024, Volume 32, Issue 5, 1929-1992.

4. A New View on Estimating China’s Capital Flight through the Travel Channel （with Wei Wang, Yun Wen, Zitong Xu）， The World Economy, 2024, Volume 47, Issue 10, 4198-4224.

5. Financial Development and Wage Income: Evidence from the Global Football Markets（with Wei Wang, Xi Wang）Journal of Banking & Finance，2023, Volume 149, Issue 4, 1-49；

6. Implications of Return Predictability for Consumption Dynamics and Asset Pricing (with Carlo Favero, Fulvio Ortu, and Andrea Tamoni), Journal of Business & Economic Statistics, 2020， Volume 38, Issue 3，527-541；

7. Demographics and the Behavior of Interest Rates （with Carlo Favero, Arie Guzluklu）， IMF Economic Review, 2016, Volume 64, Issue 4：732-776；

Publication in Chinese

1. Demographics and Systemic Ｒisk Measurement and Ｒegulation: An Interest Ｒate Channel (with Xiaoyun Fan, Yuejiao Duan), 《经济研究》，2018, Volume 53, Issue 8, 52-67;

2. How does Children Dependency Ratio affect Local Government Latent Debt Risk： A Research Based on Land Finance Mechanism (with Xiaoyun Fan, Xiaobei Zou), 《南开经济研究》，2022，5, 81-106;

3. Multiple Paths of Urban Construction Investment Bond Risk Spillovers: From the Perspective of Credit Bond Market (with Xiaoyun Fan, Xiaobei Zou),《财贸经济》，2023，44(7), 39-56

4. Extreme Event Shock and Stock Returns — A Research of Two Side Tail Risks on A-share Market（with Yingxiong Zhou and Zhiwei Liu），《金融学季刊》， 2023，17(2), 50-74

Working Papers

1. Distorted Beliefs and Asset Prices （with Lorenzo Bretscher, Aytek Malkhozov, Andrea Tamoni）, 2024

2. Risk in Mining and Cryptocurrency Returns: Evidence from Electricity Prices,（with Lin Cong, Yuecheng Jia, Junye Li, and Runyu Zhang）, 2024

3. Profitability Skewness and Stock Return, （with Yuecheng Jia, Shu Yan, Runyu Zhang）, 2024

4. The Institutional Risk and Wage Premiums: Evidence from Global Football Players, （with Wei Wang, Yun Wen）, 2024

5. China’s Economic Uncertainty and Cross-Sectional Stock Returns, (with Binghui Guo, Xiangkun Yao)

6. A Tug of War in the Convertible Bond Market: The Role of Uninformed Trading, (Xiangkun Liu, Yuanjie Yan), 2024

7. Financial Openness and Wage Earnings, (with Wei Wang, Yun Wen, and Jiaohui Yang), 2024

8. Ranking the determinants of exchange rate regime choice, (with Wei Wang, Yun Wen, Jiaohui Yang), 2024

9. Revisiting Institutional Risk Preferences in China's OFDI-A Source Country Perspective, (with Jiaohui Yang, Chunhui Chen), 2024

10. Household Demand and Industry Returns in China: Evidence from CFPS (with Binghui Guo, Xiangkun Yao)

11. A Robust Variance Bound of Pricing Kernel, (with Yuecheng Jia, Junye Li), 2023

Research Grants

1. Demographics-based Asset Pricing Models and Long run Systematic Risk (supported by National Natural Science Foundation of China, #71903103)

2. Stock Return Predictability and Asset Pricing Implications (supported by Fundamental Research Funds to Central Universities, #63172090)

3. Predictability and Municipal Bond Pricing (supported by Fundamental Research Funds to Central Universities, #63202065)

Conferences and Invited Seminars 

2025 Xiamen University

2024  FISF at Fudan University, Xi’an Jiaotong-Liverpool University, Antai College of Economics & Management, Antai Management College at Shanghai Jiao Tong University, CFRI & CIRF Annual Meeting, 2024 China Tech-Fin Research Conference,  Chinese Finance Annual Meeting

2023  CFRI & CIRF Annual Meeting, CEA (UK/Europe) Conference， Chinese Finance Annual Meeting, Chinese Macroeconomics Annual Meeting, Peking University, Fudan University, Xiamen University, Xi’an Jiao Tong University, Hunan University  

2022  CIRF Annual Meeting, Chinese Finance Annual Meeting， China Finance Scholar Forum， China Fintech Research Conference， Sun Yat-sen University， Renmin University， CIRF Annual Meeting， Chinese Development Economy Annual Meeting

2021  CIRF Annual Meeting， Chinese Finance Annual Meeting， Central University of Finance and Economics， Renmin University

2020  Hunan University

2019  CIRF Annual Meeting， Chinese Finance Annual Meeting

2018  FMA Annual Meeting,  CICF Annual Meeting， China Finance Scholar Forum

2017  Paris Financial Management Conference, IFABS， MFS Annual Meeting, Asian Meeting of the Econometric Society， Hunan University， Central University of Finance and Economics， Glasgow University, Nankai University

2016  SoFiE Annual Meeting， CICF Annual Meeting， Digital Economy & Decision Analytics Conference， Peking University， Central University of Finance and Economics， Hunan University， Glasgow-Nankai Finance Forum

2015  Dauphine-ESSEC-SMU Workshop on Systemic Risk, South Western University of Finance and Economics, EEA Annual Meeting, CICF Annual Meeting，AFA Annual Meeting

Teaching Activities

Sun Yat-sen University    Fixed Income Analysis (M.F.)                                           2024-2025             

                                        Fixed Income Analysis (B.A.)                                           2024-2025                         

Nankai University            Introduction of Asset Pricing（B.A.）                             2022-2024

                                        Fixed Income（B.A.）                                                      2020-2022

                                        Macroeconomics（B.A.）                                                2015-2018

                                        Asset Pricing Theory（Ph.D.）                                        2017-2024

                                        Empirical Methods in Asset Pricing（M.S.c.）                 2013,2019-2024

Glasgow University        Asset Pricing and Empirical Methods（Ph.D.）                2017

Bocconi University         Asset Pricing（Ph.D.）                                                      2011-2014

                                      Financial Econometrics and Empirical Finance (MS.c.)      2014

Honors and Awards

Tianjin Academy of Social Sciences Outstanding Achievement Award            2019

PwC 3535 Best Paper Award                                                                             2020

Outstanding Teaching Achievement Award                                                      2018, 2021

Faculty Fellowship, Zhonglun W&D Law Firms - Nankai University                 2016

Excellent Master's Thesis Tutor                                                                         2023, 2022，2021, 2018 

Excellent Undergraduate Thesis Tutor                                                              2024, 2023, 2022,2021,2020,2019, 2017

Dissertation Completion Fellowship, Bocconi University                                 2015

AFA 2014， Student Travel Grant                                                                     2014

Ph.D. Best Academic Performance Award, Bocconi University                        2012

Research Service

Committee of: China International Risk Forum (members of MRS), The Camphor Conference for Finance

Referee of:  Journal of Economic Dynamics &Control, Economic Modelling, Economic Letters, China Economic Review, Financial Research Letter, European Journal of Operational Research, Emerging Market Finance and Trade