Z

Zeng Yong

Professor, Doctoral Supervisor

Academic Qualifications
Academic Posts
Honors and Awards
Professional Affiliations
Research Interest
Research Projects
Publications

School of Economics and Management, Tsinghua University, Beijing, China

PhD, Management, January 2000

Department of Automation, Tsinghua University, Beijing, China

Master, Engineering, July 1988

Bachelor, Engineering, July 1985


July 1988 – July 1994, Assistant Professor, School of Management and Economics, UESTC

July 1994 – May1998, Associate Professor, School of Management and Economics, UESTC

May 1998 – November 2001, Professor, School of Management and Economics, UESTC

April 2000 – April 2001, Postdoctoral Researcher, The Chinese University of Hong Kong

November 2001 – December 2013, Dean, Professor, School of Management and Economics, UESTC

August 2010 – January 2011, Senior Visiting Scholar, Georgia Institute of Technology, USA

December 2013 – April 2015, Professor, School of Management and Economics, UESTC

April 2015 – September 2018, Vice President, Professor, UESTC

September 2018 – February 2024, President, Professor, UESTC

1. Leading Talent of Philosophy and Social Science of Ten-Thousands Talents Program (National High-Level Talents Special Support Program), 2016

2. Renowned Cultural Figures and "Four Batches" of Talent of the Publicity Department of the CPC Central Committee, 2015

3. Academic and Technical Pioneer of Sichuan Province, 2005

4. Special Government Subsidies from the State Council, 2002

5. Excellent Youth of Science and Technology Research (By the Ministry of Electronic Industry for academic and administrative achievements), 1996

6. Excellent Youth of Science and Technology Research (By the Sichuan Provincial Government for academic and administrative achievements), 2004

7. MBA Education Management Outstanding Contribution Award, 2009

8. Study on New Methods of Combination Forecasting and Portfolio Decision with Applications in International Investment. Third Prize, National Award for Science and Technology Progress, 1997

9. Study on New Methods of Combination Forecasting and Portfolio Decision with Applications in International Investment. First Prize, Sichuan Provincial Award for Science and Technology Progress, 1996

10. Theories and Applications of Economic Forecasting. First Prize, Award Granted by Ministry of Electronic Industry for Science and Technology Progress, 1994

11. Real Option Modeling and Pricing of Technology Innovation Investment with Applications. Second Prize, Sichuan Provincial Award for Science and Technology Progress, 2007

12. Research on Financial High-frequency Data: Modeling, Forecasting and Software Realization. Second Prize, Sichuan Provincial Award for Science and Technology Progress, 2015

13. Managerial Economics: Theories and Applications. Second Prize, Sichuan Provincial Award for Excellent Social Science Researches, 2003

14. Modern Methods and Applications of Combination Forecasting and Portfolio Investment. Second Prize, Award Granted by Ministry of Education for Outstanding Achievements in Scientific Researches of Higher Education Institutions (Humanities and Social Sciences), 2006

15. Investment and Financing Decision-making Theories and Applications for High-tech Enterprises: Based on Optimization Theory and Contract Designing. Second Prize, Award Granted by Ministry of Education for Outstanding Achievements in Scientific Researches of Higher Education Institutions (Science and Technology), 2009

16. Data Science-based Theory and System of Customer Credit Scoring in Commercial Banks. Second Prize, Sichuan Provincial Award for Science and Technology Progress, 2009

17. Research on Unbiased Combination Forecasting Models. Third Prize, Award Granted by National Bureau of Statistics for Science and Technology Progress in Statistics, 1996

18. Investment Decision on Technology Innovations under Uncertainty: Real Option Models and Applications. Third Prize, Award Granted by Ministry of Education for Outstanding Achievements in Scientific Researches of Higher Education Institutions (Humanities and Social Sciences), 2009

19. Firm decision flexibility and asset risk premium Perspective from firm lifecycle. Second Prize, Sichuan Provincial Award for Excellent Social Science Researches, 2021

20. Research on the Microstructure of Security Markets. Third Prize, Sichuan Provincial Award for Excellent Social Science Researches, 2010

21. Introducing the Overseas Strategic Investors into Chinese Banks: Backgrounds, Disputes and Reviews. Third Prize, Sichuan Provincial Award for Excellent Social Science Researches, 2010

22. Market Characteristics and Entry Modes of Foreign Banks. Third Prize, Sichuan Provincial Award for Excellent Social Science Researches, 2014

23. Research on the Financial Policy and Service System for the Development of High-technology Industry in Sichuan. Third Prize, Award Granted by Ministry of Education for Outstanding Achievements in Scientific Research of Higher Education Institutions (Humanities and Social Sciences), 2009

24. Research and Practice of the Training Modes of IT-Techno MBA. First Prize, Sichuan Provincial Award for Teaching Achievement,2005

25. Training Modes of EMBA: Innovations and Practice Driven by Regional Development. Second Prize, Sichuan Provincial Award for Teaching Achievement, 2010

26. Innovation and Practice of Management- Electronic Engineering Composite Cultivating Mode. Second Prize, Sichuan Provincial Award for Teaching Achievement, 2014

October 2020 – Present China Engineering Education Accreditation Association, Standing Director

November 2015 – Present Chinese Academy of Management, Vice Director

October 2004 – Present Chinese Annual Meeting in Finance, Board Member

October 2020 – Present International Journal of Financial Engineering, Vice Editor-in-Chief

December 2011 – Present Journal of Systems Engineering, Editorial Board Member

January 2013 – Present Systems Engineering-Theory & Practice, Editorial Board Member

January 2005 – Present Quarterly Journal of Finance, Vice Editor-in-Chief

January 2005 – Present Journal of Management Engineering, Editorial Board Member

January 2003 – Present China Journal of Finance, Academic Committee Member

Financial Engineering

Capital Market and Corporate Finance


1. January 2016 – December 2020, Corporate Financing Decisions and Value Creation Based on Firm Lifecycle and Internet-Finance Background, Cultural Celebrities and Four Category Talents program supported by Publicity Department of CPC Central Committee

2. January 2020 – December 2023, Product innovation, market competition and mode selection for commercial banks' retail lending in Fintech era, National Science Fund

3. January 2019 – December 2022, Leveraged Trading, Price Limit and Liquidity Risk under the Background of Stock Market Crisis, National Science Fund

4. January 2015 – December 2018, Study on the Impacts of Growth Options on Firm Valuation and Risk-Return Characteristics from the Perspective of Life Cycle, National Science Fund

1. Zeng Yong, Li Qiang, Liu Hao, Chen Jia, Li Zhun. Firm Valuation and Asset Pricing Based on Growth Options: Perspective form Firm Lifecycle. Beijing: Science Press, 2021. (In Chinese)

2. Zeng Yong, Li Ping, Guo Wenxin, Li Qiang, Wang Shencou. Research on Venture Capital Contract and Entrepreneurial Performance. Beijing: Science Press, 2021. (In Chinese)

3. Qiang Li, Hao Liu, Yong Zeng. Size Effect and Growth Options over Firm Lifecycle. Journal of Management Science and Engineering, 2022, 7(2): 197-212.

4. Jun Hu, Qiang Li, Jia-Cheng Dai, Yong Zeng. Textual Analysis-based Measurement of FinTech and Tests of Enabling Effect for Commercial Banks. Chinese Journal of Management Science, 2022, Online. (In Chinese)

5. Hao Liu, Qiang Li, Yong Zeng. Growth Opportunities, Heterogeneous Beliefs and Firm Valuation. Journal of Systems & Management, 2022, Online (In Chinese)

6. Qiang Li, Zhong-Yang Wang, Jun Hu, Yong Zeng. Investigation of Investors’ Behavior in Crowdfunding: Responsibility Diffusion or Herding. China Journal of Econometrics, 2022, 2(2): 383-400. (In Chinese)

7. Sandra Chukwudumebi Obiora, Yong Zeng, Qiang Li, Hao Liu, Peter Darko Adjei, Tamas Csordas. The Effect of Economic Growth on Banking System Performance: An Interregional and Comparative Study of Sub-Saharan Africa and Developed Economies. Economic Systems, 2022, 46(1): 100939.

8. Sandra Chukwudumebi Obiora, Yong Zeng, Qiang Li, Emelia Asiedu-Ayeh, Grace Ugochi Nneji&Olusola Bamisile. The Economic Growth and Environmental Sustainability Nexus: A Metanalysis of Three Economic Types. Journal of Environmental Planning and Management, 2022, 65(14): 2556-2586.

9. Jun Hu, Qiang Li, Yong Zeng. The Smoothing Role of Cash Holdings in R&D Investments: A perspective on Product Market Competition. Journal of Industrial Engineering and Engineering Management, 2021, 35(6): 150-162. (In Chinese)

10. Jun Hu, Qiang Li, Ying-Chen Liu, Yong Zeng. The Impact of Banks’ Fintech on Retail Lending: Based on Textual Analysis of Banks' Annual Reports. Management Review, 2021, 33(11): 298-311. (In Chinese)

11. Zhun Li, Qiang Li, Yong Zeng. Contraction flexibility, Operating Leverage, and Financial Leverage. Journal of Management Science and Engineering, 2020, 5(1): 43-56.

12. Ping Li, Tang Huailin, Wang Zhangqi, Zeng Yong. Probability of Informed Trading and Risk Pricing: A Comparative Study on Different PIN Measures. Journal of Management Science in China, 2020, 23(1): 33-46. (In Chinese)

13. Jia Chen, Qiang Li, Yong Zeng. Study of the Influence of Asset Divestiture on Risk Premium. Operations Research and Management Science, 2019, 28(10): 156-164. (In Chinese)

14. Tang Huailin, Li Ping, Liao Jingchi, Zeng Yong. Impacts of Leveraged Trading and Liquidity Commonality on Decline of Stock Price. Journal of Systems Engineering, 2019, 34(6): 790-805. (In Chinese)

15. Jia Chen, Qiang Li, Yong Zeng. Influences of M&As on Risk Premium from Perspective on Firm Lifecycle. Journal of Systems Engineering, 2019, 34(3): 372-382. (In Chinese)

16. Hao Liu, Qiang Li, Yong Zeng. Firm Valuation over Lifecycle: A Perspective on Growth Option. Asia-Pacific Journal of Financial Studies, 2018, 47(5): 720-743.

17. Zhun Li, Qiang Li, Yong Zeng. The Exercise and Creation of Growth Options and Risk Premium: From the Perspective of Firm Lifecycle. Chinese Journal of Management Science, 2018, 26(10): 1-9. (In Chinese)

18. Zhun Li, Qiang Li, Yong Zeng. Effect of Strengthened Labor Protection on Firms' Financial Leverage: Evidence from China's Labor Contract Law. Technology Economics, 2018, 37(9): 114-123. (In Chinese)

19. Qiang Li, Liwen Chen, Yong Zeng. The Mechanism and Effectiveness of Credit Scoring of P2P Lending Platform: Evidence from Renrendai.com. China Finance Review International, 2018, 8(3): 256-274.

20. Zhun Li, Qiang Li, Yong Zeng. Contraction Options, Operating Leverage and Risk Premium. Journal of Management Science in China, 2018, 21(8): 54-63. (In Chinese)

21. Qiang Li, Jia-Jun Ji, Yong Zeng. R&D, Capital Expenditures and Stock Returns: Perspective from Growth Options. Journal of Industrial Engineering and Engineering Management, 2018, 32(1): 32-41. (In Chinese)

22. Hao Liu, Qiang Li, Yong Zeng. Empirical Test of CAPM Validity from the Perspective of Real Options. Systems Engineering—Theory & Practice, 2017, 37(8): 2015-2023. (In Chinese)

23. Xu Zhenye, Zeng Yong, Deng Guangjun, Zhao Wu. Foreign Banks' Entry Modes: Competition among Banks' Branches. Journal of Industrial Engineering and Engineering Management, 2017, 31(2): 64-73. (In Chinese)

24. Sha Haowei, Zeng Yong. Cross-shareholding Network, Volatility and Stock Return: Based on the Perspective of Real Options. System Engineering, 2017, 35 (7):10-18. (In Chinese)

25. Tang Huailin, Li Ping, Zeng Yong, Liao Jingchi. Characteristic Analysis of the Market Microstructure Indicators before Price Limit Hits during Stock Market Crash. Journal of Management Science, 2017, 30 (6): 33-49. (In Chinese)

26. Tang Huailin, Li Ping, Zeng Yong, Liao Jingchi. Leverage Trading, Market Liquidity and Upper Limit of Stock Price: Empirical Study on 2015 Boom in Chinese Stock Market. Investment Research, 2017, 36(10): 34-55. (In Chinese)