• Zhiyong Li

    BEng Mech., BSc Maths., MSc OR, PhD Fin.

    Who am I?

    a short biography

    Dr. Zhiyong Li is Professor of Finance at the Southwestern University of Finance and Economics and serves as director of the Department of Credit Management at the School of Finance. He received a doctorate in Management Science at the University of Edinburgh Business School where the PhD thesis passed with no correction. He has been working with scholars at the Credit Research Centre led by Prof. Jonathan Crook. He has a background of Mechanics and Mathematics at Beihang University. Dr. Li's interests are focused on the measurement and management of credit risk including credit scoring, credit rating, and risk modelling under Basel II and III. Many of his papers were published in prestigious journals in banking/finance, management science/operational research and machine learning/artificial intelligence. Though he mainly employs big data in financial risk management, fundamentally he is an engineer and artist.

  • Curriculum Vitae

    Nunquam praescriptos transibunt sidera fines

    CONTACT INFORMATION

    Webpage: www.credit.li
    Email: liz@swufe.edu.cn; li@credit.li
    Office: Room 521, Gezhi Building, 555 Liutai Avenue, Wenjiang, Chengdu 611130, Sichuan, China

    AFFILIATIONS & POSITIONS

    Professor of Finance, Southwestern University of Finance and Economics (SWUFE), China, 2019-Present

    Director, Department of Credit Management, School of Finance, SWUFE, China, 2018-Present

    Director, The Fintech and Regtech Lab, Institution of Chinese Financial Studies, SWUFE, 2016-Present
    Deputy Director, Centre for Inclusive and Intelligent Finance, SWUFE, 2019-Present

    Associate Professor of Finance, School of Finance, SWUFE, China, 2015-2018

    Deputy Director, Department of Credit Management, School of Finance, SWUFE, 2014-2017

    Research Fellow, Business School, University of Edinburgh, United Kingdom, 2014-2017

    Lecturer, School of Finance, SWUFE, China, 2014-2015

    EDUCATION & VISITING

    Ph.D in Credit Risk Management, Credit Research Centre, Business School, University of Edinburgh, UK, 2009-2014
    M.Sc in Operational Research with Risk, School of Mathematics, University of Edinburgh, UK, 2007-2008

    B.Eng in Mechanics Engineering with Aircraft Design, School of Aeronautics, Beihang University, China, 2003-2007
    B.Sc in Applied Mathematics, School of Mathematics, Beihang University, China, 2005-2007

    ACADEMIC PUBLICATIONS

    Research interests: Basel modelling, credit scoring, credit rating, credit portfolio management, reject inference, stress testing, financial distress and bankruptcy prediction, Fintech and Regtech, big data analytics, social credit systems.

    Peer-reviewed articles

    • Li Zhiyong, Hu X, Li K, Zhou F & Shen F. (2020). Inferring the Outcomes of Rejected Loans: an Application of Semi-supervised Clustering Algorithms. Journal of the Royal Statistical Society: Series A (Statistics in Society), forthcoming. DOI: 10.1111/rssa.12534
    • Li Zhiyong, Tang Y, Wu J, Zhang J & Lv Q. (2019). The interest costs of green bonds: credit ratings, corporate social responsibility, and certification. Emerging Market Finance and Trade. In press. DOI: 10.1080/1540496X.2018.1548350
    • Li Zhiyong, Li K, Yao X & Wen Q. (2019). Predicting prepayment and default risks of unsecured consumer loans in online lending. Emerging Market Finance and Trade. 55:118-132. DOI: 10.1080/1540496X.2018.1479251
    • Tang Y, Moro A, Sozzo S & Li Zhiyong. (2018). Modelling trust evolution within small business lending relationships. Financial Innovation. 4:1-19. DOI: 10.1186/s40854-018-0105-1
    • Shen F, Ma X, Li Zhiyong, Xu Z & Cai D. (2018). An extended intuitionistic fuzzy TOPSIS method based on a new distance measure with an application to credit risk evaluation. Information Sciences. 428:105-119. DOI: 10.1016/j.ins.2017.10.045
    • Li Zhiyong, Crook J & Andreeva G. (2017). Dynamic prediction of financial distress using Malmquist DEA. Expert Systems with Applications. 80:94-106. DOI: 10.1016/j.eswa.2017.03.017
    • Li Zhiyong, Tian Y, Li K, Zhou F & Yang W. (2017). Reject inference in credit scoring using Semi-supervised Support Vector Machines. Expert Systems with Applications. 74:105-114. DOI: 10.1016/j.eswa.2017.01.011
    • Tian Y, Li K, Yang W & Li Zhiyong. (2017). A new effective branch-and-bound algorithm to the high order MIMO detection problem. Journal of Combinatorial Optimization. 33(4):1395-1410. DOI: 10.1007/s10878-016-0045-5
    • Li Zhiyong, Crook J & Andreeva G. (2014). Chinese Companies Distress Prediction: An Application of Data Envelopment Analysis. Journal of the Operational Research Society. 65(3):466-479. DOI: 10.1057/jors.2013.67

    Books & chapters

    • Credit Scoring and Its Application. (2020). China Financial Publishing House: Beijing, forthcoming, Mandarin edition of Credit Scoring and Its Applications by Lyn Thomas, Jonathan Crook, David Edelman, 2017, 2nd revised edition, Society for Industrial & Applied Mathematics (SIAM):Philadelphia.
    • The Principle and Practice of Credit Rating. (2019). Part I: Theories of credit rating. China Financial Publishing House: Beijing, ISBN: 9787504998491
    • Fintech Operations in China. (2018). Chapter 12: Infrastructure development, Social Sciences Academic Press (China): Beijing, ISBN: 9787520128612
    • The Credit Scoring Toolkit. (2017). China Financial Publishing House: Beijing, ISBN: 9787504990334, Mandarin edition of The Credit Scoring Toolkit: Theory and Practice for Retail Credit Risk Management and Decision Automation by Raymond Anderson, 2007, Oxford University Press: London.
    • Consumer Credit Models. (2016). China Financial Publishing House: Beijing, ISBN: 9787504984111, Mandarin edition of Consumer Credit Models: Pricing, Profit and Portfolios by Lyn Thomas, 2008, Oxford University Press: London.

    Conference proceedings

    • Tang Y, Moro A, Sozzo S & Li Z. (2019) A Spiral Model of Trust Evolution. In: Xu J, Cooke F, Gen M, Ahmed S (eds) Proceedings of the Twelfth International Conference on Management Science and Engineering Management. ICMSEM 2018. Lecture Notes on Multidisciplinary Industrial Engineering. Part 3, pp. 515-526. Springer: Cham.
    • Shen F, Lan D & Li Z. (2017). An Intuitionistic Fuzzy ELECTRE-III Method for Credit Risk Assessment. In: Xu J, Hajiyev A, Nickel S, Gen M (eds) Proceedings of the Tenth International Conference on Management Science and Engineering Management. Advances in Intelligent Systems and Computing, vol 502. pp. 289-296. Springer: Singapore.

    Journal papers

    • Cheng G, Wen Q & Li Z. (2017). Dynamic analysis on bank credit risk and macroeconomic conditions based on TVP-SV-VAR models. Financial Regulation Research (Chinese). 63(3):51-72.
    • Guo H, Peng Y & Li Z. (2008). A visualization study on the flow structures in the transitional boundary layer under adverse pressure gradient. Journal of Experiments in Fluid Mechanics (Chinese). 22(2):68-73.

    Working papers

    Predicting the risk of financial distress using corporate governance measures.
    Concept momentum in the Chinese stock markets.
    A non-parametric method to predict bank failure.
    Text mining of personal experiences of senior managers.
    Lending strategy in P2P lending.
    Modelling the severity and frequency of financial distress.

    Conference presentations

    Credit Scoring and Credit Control (2009, 2011, 2013, 2015, 2017, 2019, Edinburgh)

    WRDS Advanced Research Scholar Program at the Wharton School of UPenn (2018, Philadelphia; 2019 Beijing)

    International Conference on Internet Finance (2019, Hangzhou)

    China International Risk Forum (2016, Shanghai; 2019 Tianjin)

    Workshop on Banking and Financial Stability at Deakin Business School (2019, Melbourne)

    Sino-US Economist Fintech Innovation Forum (2018, Stanford)
    International Conference on Corporate Governance in Emerging Markets (2018, Amsterdam)
    International Conference on Energy Finance (2018, Beijing)
    International Conference on Financial Markets and Institutions (2017, Chengdu)
    International Finance and Banking Society (IFABS) Asia Conference (2017, Ningbo)
    International Conference on Asian Financial Markets and Economic Development (2017, Nagasaki)
    European Conference on Operational Research (2012, Vilnius, 2013, Rome; 2016, Poznan)
    International Risk Management Conference (2015, Luxembourg; 2016, Jerusalem; 2017, Florence)
    Joint Meeting of the Financial Education Alliance and the Central Taiwan Finance Association (2016, Taiwan; 2017 Jiangxi)
    China-UK Microfinance and Rural Finance Conference (2015, Chengdu),
    OR Annual Conference (2012, Edinburgh; 2013, Exeter)
    YoungOR Conference (2011, Nottingham)

    STUDENT SUPERVISION

    2 PhD in Finance: Aimin Li (2018-), Gongtao Zhang (2019-)

    2 DBA in Management: Xiaotang Tang (2019-), Hao Sun (2019-)
    53 Master students in Finance/Financial Engineering/Credit Management
    12 MBA&EMBA students and projects