JI, Yan
Source: https://bm.hkust.edu.hk/faculty/ji-yan Parent: https://bm.hkust.edu.hk/bizinsight/biztalks
JI, Yan
Liwei Huang Associate Professor of Business
Department of Finance
Recent Activities
DOU, Winston Wei
GOLDSTEIN, Itay
AI-Powered Trading, Algorithmic Collusion, and Price Efficiency
The integration of algorithmic trading with reinforcement learning, termed AI-powered trading, is transforming financial markets by reshaping how trading works. This study constructs a theoretical laboratory where financial markets function as information aggregation mechanisms, compelling investors to trade cautiously on private signals to preserve ... Read More
[ Fintech and AI in Business ]
TENG, Songyuan
TOWNSEND, Robert M.
Unraveling the Patterns and Economic Impacts of Bank Expansion
Implementing financial sector policies that promote financial inclusion and growth is one of the key goals of developing economies. However, the outcomes are often spatially and temporally uneven. Yan Ji of HKUST and co-researchers develop an innovative model to examine the economic impacts of such policies across space and time, taking as a case study the ... Read More
[ BizBites ]
Competition and Price War Risk: Rationalizing Anomalies in Capital Markets
One of the most striking trends in the aggregate economy over the past few decades is the persistent rise in industry concentration. Firms operating in concentrated industries engage in highly strategic price competition to capture market share and maximize profits. In this research agenda, we examine the implications of strategic competition among firms in ... Read More
[ BizTalks ]
TENG, Songyuan
TOWNSEND, Robert M.
Unraveling the Patterns and Economic Impacts of Bank Expansion
Implementing financial sector policies that promote financial inclusion and growth is one of the key goals of developing economies. However, the outcomes are often spatially and temporally uneven. Yan Ji of HKUST and co-researchers develop an innovative model to examine the economic impacts of such policies across space and time, taking as a case study the ... Read More
[ BizStudies ]
DOU, Winston Wei
WU, Wei
A New Model of Corporate Asset Pricing
When looking across the landscape of publicly listed companies in the U.S., it is tempting to assume that company valuations are based primarily on profitability. That is to say, it is natural to believe that a given company’s value reflects its ability to generate steady income streams that rise above and beyond expenses. But in the observed world, do ... Read More
[ BizStudies ]
DOU, Winston Wei
The Balance Between Product Price and Production Cost
Determining the ratio of product price to the marginal cost of production, otherwise known as the markup, is a key question in economics. In terms of the overall economy, markup variation affects the dynamics of inflation, the fluctuation of output and employment over business cycles, and the transmission of macroeconomic policies. At the firm level ... Read More
[ BizStudies ]
DOU, Winston Wei
Competition, Profitability, and Discount Rates
Lowering prices and offering discounts might be a sure-fire way for firms to attract consumers, but these tactics also cause huge fluctuations in competition intensity, with potentially serious implications for asset prices and returns. Surprisingly, however, this key issue has been neglected in asset pricing research. In a pioneering study, HKUST’s ... Read More
[ BizStudies ]
DOU, Winston Wei
REIBSTEIN, David
WU, Wei
The Impact of Customer Capital on Firm Valuation: Brand Recognition vs. Key Employees
Key talents, such as executives and innovators, play a crucial role in driving a firm’s success and shaping public perceptions of its operations. However, such talents can also pose a risk to their firms. HKUST’s Yan Ji and his collaborators reveal that firms whose reputation rests more on the shoulders of leaders and innovators generate higher expected ... Read More
[ BizStudies ]