Hefei Wang –

Professor of Finance and Associate Dean at IBSS

金融学教授， 西浦国际商学院副院长

Topic of the Lecture：

Information Transmission and Big Data in Finance

金融学中的信息传递问题与大数据

Abstract：

In this talk, Prof. Hefei Wang will introduce research topics in information economics with applications to theoretical corporate finance and market microstructure research. Information economics studies the impact of corporate information disclosure on market efficiency. Researchers investigate the relationship between the level of information disclosure and market reactions, as well as the effects of information disclosure on investor decision-making and asset pricing. Information economics has significant applications in studying topics such as corporate disclosure strategies, price discovery and trading behaviors.

Information transmission is at the core of modern finance research. It provides a theoretical framework for understanding how information affects corporate finance decisions and outcomes. By understanding the role of information, researchers develop theories and models that better explain the behavior of firms and investors and can help firms and individuals make better decisions. Prof. Wang will give an overview of her research in financial contracting, strategic information transmission and reputation acquisition in analyst recommendations, incentive provisions at financial institutions, information and trading behavior, and more recently, her empirical research on the Chinese financial market and applications of machine learning in finance.

讲座摘要：

在本次讲座中，王鹤菲教授将介绍信息经济学在理论公司金融和市场微观结构研究中的应用及相关研究课题。该课题包括信息经济学研究企业披露信息对市场效率的影响，人员探讨信息披露水平与市场反应的关系，以及信息披露对投资者决策和资产定价的影响。本讲座重点介绍了信息经济学在研究企业披露策略、市场价格发现，和交易者行为等课题中的重要应用。

信息传递是现代金融研究的核心。它为理解信息如何影响公司金融决策和结果提供了一个理论框架。通过理解信息的作用，研究人员可以发展更好地解释公司和投资者行为的理论和模型，并帮助企业和个人做出更好的决策。王教授将概述她在金融契约论、战略信息传递和分析师的声誉获取、金融机构的激励条款、信息和交易行为方面的研究，以及最近她关于中国金融市场的实证研究和机器学习在金融领域的应用。

Speaker：

Prior joining the Department of Finance at IBSS in 2022, Dr. Hefei Wang was a professor of Finance and director of the Financial Big Data Lab at the Renmin University of China. Dr. Wang holds a Ph.D. in Finance from Stanford Graduate School of Business and a masters in Statistics from Stanford University. She has also worked as an assistant professor of Finance at the University of Illinois, Chicago, and served as a visiting Economist at the Federal Reserve Bank of Chicago and a quantitative researcher at China Investment Corporation. Dr. Wang’s research interests include theoretical corporate finance, dynamic asset allocation and Financial Big Data. She was co-PI for a number of research grants, including the CME research grant, China National Natural Science Foundation Key Program and Youth Program. She was invited to present her research at top international conferences and institutions including the American Economic Association (AEA) annual meetings, the US Federal Reserves, US Office of the Comptroller of the Currency, Asian Development Bank Institute, etc. She is currently on the board of directors for Pengyang Asset Management Company, the Cambricon Fintech Research Institute and China Society for Industrial and Applied Mathematics (CSIAM) Algorithms and Fintech committee. She has received recognitions from the city of Suzhou including Jinji Lake Leading Talent Award and the Suzhou Industrial Park Excellent Educator Award.

王鹤菲博士：

现任西交利物浦大学国际商学院副院长，金融系教授，历任美国伊利诺伊大学芝加哥分校商学院金融系助理教授，中国人民大学汉青经济与金融高等研究院副教授、国际学院教授，中国人民大学苏州校区金融大数据实验室主任，也曾在美联储芝加哥银行， 中国投资有限公司短期工作。 王鹤菲博士本科一年级就读于北京大学计算机系。 大一结束后， 获得全额奖学金转入美国韦尔斯利学院，以最高拉丁荣誉毕业，主修数学和计算机。 本科毕业后，她在斯坦福大学商学院获得金融学博士，统计学硕士。

王鹤菲博士的研究方向为公司金融理论， 动态资产配置理论和金融大数据的研究。 曾任多个国际会议的学术委员和分会主席，应邀在美联储，美国财政部货币司，亚洲发展银行研究所，全美经济学年会，金融计量经济学会年会等国际顶级学术会议和研究机构做学术报告。 目前担任鹏扬基金管理有限公司独立董事及风险管理委员会成员，寒武纪金融科技研究院理事，中国工业与应用数学学会金融科技与算法专委会委员。 获得金鸡湖科教领军人才，苏州工业园区优秀教育工作者等称号。