岭南学术论坛－金融学系列Seminar－How does fintech affect financial market？

第518期岭南学术论坛（金融学系列Seminar）

报告题目：How does fintech affect financial market？

报 告 人：张丽宏（清华大学经管学院 教授）

主 持 人：曾燕（中山大学岭南学院 教授）

时     间：2018年11月23日（周日）下午16:10—17:40

地     点：MBA楼402

语     言： 中文

摘要：

Imperfections exist in financial markets. Assuming the existence of some market imperfections, we study market outcomes with a continuous-time model of feedback trading based on fintech. Without using arguments involving cognitive biases, the model allows us to examine the extent to which the market price deviates from the fundamental. Depending on the initial market imperfection in the form of under-or over-pricing, different feedback strategies may have very different impacts on insiders' profit, market depth, and instantaneous returns and volatilities. The model is able to endogenously generate bubbles and crashes and offers new insights on the relation between idiosyncratic volatility and returns.

报告人介绍：

Lihong Zhang is a professor of Finance in the School of Economics and Management at Tsinghua University. She holds a Ph.D. in Probability and Mathematical Statistics from the Institute of Applied Mathematics, Academy of Mathematics and System Sciences, Chinese Academy of Science, and an M.S. in Probability and Mathematical Statistics and a B.S. in Probability and Mathematical Statistics from Nankai University. Before joining Tsinghua University, she conducted postdoctoral research in the School of Mathematical Science at Peking University. Lihong’s research interests are on issues related to financial economics, stochastic calculus and its applications, actuarial science, and risk management. Her research has appeared in MIS Quarterly and Insurance: Mathematics and Economics.

        欢迎感兴趣的年轻老师和博士生参加！

        中山大学岭南学术论坛分经济、金融和管理三个系列，是定期邀请国内外优秀学者前来开展学术交流的平台。每系列每个月定期举办2-3次。目前已经成功举办多期，并得到了各界的高度评价。