Zhihong Yi

Yi Zhihong, female, born in Cangzhou, Hebei province in March 1965. She got her Master Degree from RUC in 1989 and Doctoral Degree in Finance from RUC in 2000. She has been teaching at Renmin University of China since July 1989. She was Deputy Director of the Trade and Economics Department of Renmin University of China from November 1994 to February 1996; Deputy Director of Academic Affairs Office o from November 1998 to July 2002; Assistant Dean of the Graduate School from July 2002 to December 2005; Dean of Business School from December 2005 to May 2012. She was Vice President of RUC May 2012-Jun. 2017. She was in Harvard Business School as a visiting scholar from 1997 to 1998, and a visiting scholar in the University of Michigan Business School from January to July in 2004. She also served as Associate Director of the National Committee of Business Education, and Committee Member of the 4th National Committee of MBA Education. Her main research fields are financial management, capital market, and consumption economy. In 2010, the teaching team under her lead won the title of “National Outstanding Teaching Team”. Other awards she won include “Teaching Excellence Achievement Award” from the Beijing Educational Committee (2008),the Fok Ying Tung Education Foundation “Outstanding Young College Teachers” prize (2002), the “National Outstanding Teaching Achievement Award Second Prize” (2001) and “Beijing Education and Teaching Achievement Award Second Prize” (2001). Her book titled Consumption Economics was selected for the “Beijing Higher Education Excellent Textbooks” hosted by Board of Education in Beijing and another of her books The Model Selection of Pension System Reform in China and Its Financial Implication won the “Beijing Seventh Philosophy and Social Sciences Outstanding Achievement Second Prize” in 2002.

Education

• Ph. D in Finance. Renmin University of China (RUC), Beijing, 2000
• M.A. in Business Economics. Renmin University of China (RUC), Beijing, 1989
• B.A. in Business Economics. Renmin University of China (RUC), Beijing, 1986

Working Experiences

Academic Positions

• Jun. 2001-Present: Professor, School of Business Administration, Renmin University of China
• Jan. 2004-Jul. 2004: Visiting Scholar, Business School, University of Michigan
• Aug. 1997-Jul. 1998: Visiting Scholar, Harvard Business School, Harvard University
• Jun. 1996-May 2001: Associate Professor, School of Business Administration, Renmin University of China
• Jun. 1991-May 1996: Lecturer, School of Business Administration, Renmin University of China
• Sept. 1991-Jul. 1992: Research Fellow, National Committee of Economic System Reform
• Sept. 1989-Jul. 1991: Assistant Professor, School of Business Administration, Renmin University of China

Administrative Positions

• May 2012-Jun. 2017: Vice President, Renmin University of China (RUC)
• Dec. 2005-Jan. 2014: Dean, School of Business Administration, RUC
• Sept. 2002-Nov. 2005: Associate Dean, Graduate School, RUC
• Nov. 1998-Jun. 2002: Deputy Director, Office of Academic Affairs, RUC
• 1998.11-2002.06 Deputy Director, Office of Academic Affairs, Renmin University of China

Research Interests

Corporate Finance, Capital Market, Consumption Economics

Courses

• Financial Market and Financial Institutions (undergraduate),
• Introduction to FinTech (MBA)
• Management Integration (MBA)

Academic Articles

1. Yi, Z.H., Guo, Y.ZH., Yang, Sh.Zh., Alumni ‘Clique’: Do Fellow Analysts Share Private Information? Journal of Management. 2023(accepted)
2. Guo, Y.ZH., Yang, SH.ZH., Wang, Y.H., Yi, Z.H.; Star Analysts’ Voting in Emerging Market: A Perspective of Analysts’ Optimistic Bias, Emerging Markets Finance and Trade. 2023（accepted）
3. Yi, Z.H., Chen, X., Tian, L., The Impact of Public Environmental Concerns on Corporate Green Innovation[J]. Economic Theory and Management,2022,42(07):32-48.
4. Ma, L.J., Wu, Y.Q., Yi, Z.H., Liu, Y.R., Research on Logical Characteristics of Analyst Report: Problems, Causes and Consequences[J]. Management World, 2022,38(08):217-234.
5. Fei Xue; Qinyuan Chen; Kam C. Chan; Zhihong Yi; Is corporate social responsibility value relevant? Evidence from a quasi-natural experiment of anti-corruption campaign, Journal of Business Research, 2022, (140): 520-532.
6. Chen Yanyu, Zhu Lin, Yi Zhihong. Operating leverage and corporate cash holdings: evidence from China[J]. Asia-Pacific Journal of Accounting & Economics, 2022: 1-21. (SSCI, IF:1.1369)
7. Chen, Q.Y., Xue, F., Yang, SH.ZH., Yi, Z.H., “Seeking Opportunities in Crisis”: Can Online Communication Improve the Information Efficiency of Capital Market? [J] Economic Management, 2021,43(05):142-158.
8. Yi, Z.H., Ding, Y.P., Cao, R., Investor Relationship Management and Corporate Cash Value[J]. Management Science, 2021,34(06):113-126.
9. Jiang, X.Y., Zhu, L., Yi, Z.H., Internet Public Opinion Attention and Enterprise Innovation [J]. Economics(Quarterly),2021,21(01):113-134.
10. Yi, Z.H., Wang, H., Chen, Q.Y., Firm’s External Guarantee and Stock Price Crash Risk, Accounting Research, 2021(4): 157-177.
11. Chen, Q.Y., Xue, F., Yang, Sh. Zh., Yi, Z.H., “Looking for Opportunity in Danger”: Can Online Meeting Lift Market Efficiency? Economic Management, 2021, (5):142-158.
12. Jiang, X.Y., Zhu, L., Yi, Z.H., Online Public Attention and Firm’s Innovation. Economics, 2021, (1):113-134.
13. Yi, Z.H., Ding, Y. P, Chen, Q.Y., Yang, SH.ZH., Investor Relationship Management and Firm’s Risk Taking. Economic Theory and Economic Management, 2020, (11): 4-20.
14. Zhu, L., Yi, Z.H., Will the Stock Market Opening Facilitate Firm’s Innovation? --An Empirical Evidence from “Shanghai-Hong Kong Stock Market Connection Trading Scheme”. Economic Management, 2020, (2): 40-57.
15. Jiang, J., Jiang, X.Y., Yi, Z.H., A Research on Firm’s Innovation Efficiency-Influence from the Equity Pledge, Finance Research, 2020(2):128-146.
16. Ma, L.J., Yi, Z.H., Zhang, Ch., Cheap Talk or Speak On Good Grounds? --An Research on Information Content of Analyst Report Text, Management World, 2019(7):182-200.
17. Yi, Z.H., Zhu, L., Chen, Q.Y., Negative Information Disclosure of Analyst Report and Crash Risk of Stock Price, Nankai Business Review, 2019(5):192-206.
18. Yi, Z.H., Yang, Sh. Zh., Chen, Q.Y., Can Analysts Reduce Share Price Synchrony? --An Empirical Research on Analyst Report Text. China Industrial Economy, 2019, 370(1):160-177.
19. Yi, Z.H., Shen, D.L., Jiang, X.Y., Do Fund Equity Affiliated Analysts Damage Stock Market Information Efficiency——An Evidence Based on Stock Price Synchronicity. Management Review, 2018, 30(8): 3-15.
20. Chen, Q.Y., Ma, l.J., Yi, Z.H., Analyst Coverage and Corporate’s Innovation Performance: The Logic of China. Nankai Business Review, 2017(3): 15-27.
21. Zhihong Yi, Xinbin Wang & Ying Li， Security Company’s Scale and Accuracy of Analyst Earnings Forecast: Evidence from Analyst Job-hopping，Journal of Shanxi University of Finance and Economics，2016，38（1）：36-43。
22. Zhihong Yi, Ying Li & Xuanyu Jiang , “ Female Analyst Coverage and Stock Synchronicity”，Finance Research，2015，（11）：175-189。
23. Ningyue Liu, Don Bredin, Liming Wang, Zhihong Yi, Domestic and Foreign Institutional Investor Behavior in China, European Journal of Finance,2014, 20:728-751.
24. Zhihong Yi & Xuanyu Jiang, “Star VS Non-star: Analysts Rating Revision and Attributes of Information, Economic Theory and Management, Vol.10, 2013
25. Xu, N.H., Chan, K.C., Jiang, X.Y., and Yi, Z.H., Do Star Analysts Know More Firm-Specific Information? Evidence from China, Journal of Banking and Finance, 2013, 37:89-102.
26. Xu, N.H., Jiang, X.Y., Chan, K.C., and Yi, Z.H., Analyst coverage, optimism, and stock price crash risk: Evidence from China, Pacific-Basin Finance Journal, 2013, 25:217-329.
27. Xu, N.H., Yu,Sh. Y., and Yi, Z.H., Institutional investor’s herd behavior and stock price crash risk, Management World, 2013, 7:31-43.
28. Xu, N.H., Jiang, X.Y., Yi, Z.H., and Yuan, Q.B., Does political connection have impact on law enforcement efficiency of investor’s law protection, Economics (Quarterly), 2013, 2:373-406.
29. Xu, N.H., Jiang, X.Y., Yi, Z.H., and Xu, X.ZH. Analyst interest conflict, optimism, and stock price crash risk, Economic Research, 2012, 7:127-140.
30. Yi, Z.H, Shangyao Yu & Fuxiu Jiang, “The Busy Board of Directors: Dedicated or Inefficient?”, Finance and Trade Economics, Vol.12, 2011
31. Yi, Z.H, Yanli Li & Wei Gao, “Process of Marketization, Institutional Investor and Compensation Incentive, Economic Theory and Management, Vol.10 , 2011
32. Yi, Z.H, Fuxiu Jiang & Yihu Qing, “The Market Competition in Products, Corporate Governance and Quality of Information Disclosure”, Management World, Vol.1, 2010
33. Yi, Z.H, Yanli Li & Wei Gao, “Governance Effect of Heterogeneous Institutional Investors: Based on the Perspective of Executive Compensation”, Statistics and Decision, Vol.5, 2010
34. Fuxiu Jiang, Yi, Z.H, Fei Su & Lei Huang, “Background Characteristics of Managers and Excessive Investment Behaviors of Enterprises”, Management World, Vol.1, 2009
35. Yi, Z.H and Huilian Zhang, Pension Funds Investment and Capital Market – International Experience and China’s Options, Renmin University Press, April 2009
36. Yi, Z.H, Dazhao Gu, Hua Song & Kangkang Yu, “A Technological Innovation Model Based on Resource Integration: A Case Study of Shenhua”, Frontiers of Business Research in China, Vol.3, 2008
37. Yi, Z.H. & Ningyue Liu, “Current Status and Future Prospect of Corporate Finance Research in China: Based on Literature Research”, Transaction of Renmin University of China, Vol.4, 2008
38. Yi, Z.H, Hua Song & Kangkang Yu, “A Study on Financial Supply Chain and Risk Control of Commercial Banks – case of innovative financial service of CITIC Bank”, Research on Economics and Management, Vol.7, 2008
39. Yi, Z.H, Huai Yang & Qingzhou Liu, “Local Economic Development and Capital Structure”, Economic Management, Vol. 13, 2008
40. Yi, Z.H, et al. A Study on Innovative Capability of Chinese Enterprises, Renmin University Press, November 2008
41. Yi, Z.H, “The Enlightenment and Reference of Employer Pension Plan in the US to China’s Pension System Reform”, Reveal of Economic Research, Vol.7, 2006
42. Yi, Z.H, “The Role of Employer-sponsored Pension Plan in Pension System”, Finance and Trade Economics, Vol.10, 2005
43. Yi, Z.H & Yan Du, “Empirical Research on the Efficiency of Independent Board Member System”, Economic Theory and Management, Vol.11, 2005
44. Yi, Z.H & Weiyang Cao, “The Influence of Investor Structure on Issuance Price of Government Bond – from Macro-Financial Environment of China”, Research on Financial and Economic Issues, Vol.12, 2005
45. Yi, Z.H & Yan Du, “Empirical Research on the Efficiency of Independent Board Member System”, Economic Theory and Management, Vol.11, 2005
46. Yi, Z.H & Weiyang Cao, “The Influence of Investor Structure on Issuance Price of Government Bond – from Macro-financial Environment of China”, Research on Financial and Economic Issues, Vol.12, 2005

Monographs

• Zhihong Yi and Huilian Zhang, Pension Funds Investment and Capital Market – International Experience and China’s Options, China Renmin University Press, April 2009
• Zhihong Yi, et al. A Study on Innovative Capability of Chinese Enterprises, China Renmin University Press, November 2008

Books

• Consumption Economics (4th Ed.),RUC Press, June 2022

Cases

1. The Sustainable Development of ABC Jiangsu Branch. (RMBS case database)
2. The Leading Way of ABC Zhejiang Branch. (RMBS case database)
3. The Forging Journey of ABC Anhui Branch. (RMBS case database)
4. Prologis Financial: “Scene + Technology + Finance” to Empower SMEs. (2020 National 100 key cases)
5. Vanke Equity Dispute: Who Will Protect the Rights and Interests of Small and Medium-sized Shareholders? (RMBS case database, CEIBS case database)

Services & Awards

Key community services

• Administration, Academic Degree Commission of the State Council
• Deputy Director, National Committee of Business Education (BBA)
• Deputy Director, The 5th National Committee of MBA Education
• General Secretary, The National Council for MBA Accreditation (CAMEA)
• Vice Chairman, China’s Financial Accounting Association
• Board Member, Board of Directors, The European Foundation for Management Development (EFMD)
• Committee Member, Initial Accreditation
• Committee, The Association to Advance Collegiate Schools of Business (AACSB，2012-2017)
• Board Member, The International Advisory Board, IE Business School (Spain)

Honors and Awards

• Outstanding Undergraduate Thesis Advisor Award by Beijing Educational Committee, 2022
• Expert with the Special Allowance from The State Council, 2018
  
• Excellent Teaching Achievement Award by Beijing Educational Committee, 2016
• Excellent Teaching Achievement Award by Beijing Educational Committee, 2012
• National Teaching Group Award by Ministry of Education, 2010
• Excellent Teaching Achievement Award by Beijing Educational Committee, 2008
• Consumption Economics – Excellent Textbook for Higher Education of Beijing, 2005
• Fok Ying Tung Education Foundation “Excellent Young Teacher Award for Higher Education School”, 2002
• The Model Selection of Pension System Reform in China and It's Financial Implication – The 7th Beijing Philosophy & Social Science Excellent Research Award, 2002
• National Excellent Teaching Achievement Award by Ministry of Education, 2001
• Excellent Teaching Achievement Award by Beijing Educational Committee, 2000

Others

Professional Engagements (In last 5 years)

• Committee Convener, The 8th National Committee of Discipline Supervision for Business Administration, Academic Degree Commission of the State Council
• Deputy Director, National Committee of Business Education (BBA)
• Deputy Director, The 6th National Committee of MBA Education
• General Secretary, The National Council for MBA Accreditation (CAMEA)
• Board Member, The International Advisory Board, IE University (Spain)