Zhiyong LI

• 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

• Chief Secretary, China Society of Credit Research, 2020-Present
• 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

• 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

• International Journal of Forecasting (SSCI), Guest Editor, Special Session 'Credit Risk Modelling', 2020-2021
• International Journal of Financial Engineering (ESCI), Associate Editor, 2020-
• Financial Development Review (Chinese), Executive Editor, 2020-2021

Research interests: Credit scoring and credit rating, credit portfolio management, Basel Accord and stress testing, financial distress and bankruptcy prediction, consumer finance and green finance, Fintech and Regtech, big data analytics, social credit systems.

• Li Z, 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. Google Scholar Citations: 53
• Li Z, 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. Google Scholar Citations: 89
• Li Z, Tang Y, Wu J, Zhang J & Lv Q. (2020). The interest costs of green bonds: credit ratings, corporate social responsibility, and certification. Emerging Markets Finance and Trade. 56(12):2679-2692. Google Scholar Citations: 48
• Li Z, Crook J, Andreeva G & Tang Y. (2021). Predicting the Risk of Financial Distress using Corporate Governance Measures. Pacific-Basin Finance Journal. 68. 101334. Google Scholar Citations: 26

19. Li Zhiyong, Feng C & Tang Y. (2022). Bank efficiency and failure prediction: A nonparametric and dynamic model based on data envelopment analysis. Annals of Operations Research. (ABS3, JCR Q1). DOI/PDF.

18. Zhou F, Fu L, Li Zhiyong & Xu J. (2022) The Recurrence of Financial Distress: A Survival Analysis. International Journal of Forecasting. (ABS3, JCR Q1). DOI/PDF.

17. Zeng X, Li Zhiyong, Yang W & Huang Z. (2022) The risk interdependence of cryptocurrencies: Before and during the COVID-19 pandemic. International Journal of Financial Engineering. (ESCI). DOI

16. Wu Z & Li Zhiyong. (2021). Customer Churn Prediction for Commercial Banks Using Customer Value Weighted Machine Learning Models. Journal of Credit Risk. 17(4): 15-42. (JCR Q4, ABS1). DOI / PDF.

15. Li K, Zhou F, Li Zhiyong, Li W & Shen F. (2021). A semi-parametric ensemble model for profit evaluation and investment decisions in online consumer loans with prepayments. Applied Soft Computing. 107. 107485. (JCR Q1). DOI /PDF.

14. Li K, Zhou F, Li Zhiyong, Yao X & Zhang Y. (2021). Predicting loss given default using post-default information, Knowledge-Based Systems. 224. 107068. (JCR Q1). DOI / PDF.

13. Li Zhiyong, Zhang J, Yao X & Kou G. (2021). How to identify early defaults in online lending: A cost-sensitive multi-layer learning framework. Knowledge-Based Systems. 221. 106963. (JCR Q1). DOI / PDF.

12. Tang Y, Li Zhiyong, Chen J & Deng C. (2021). Liquidity creation cyclicality, capital regulation and interbank credit: Evidence from Chinese commercial banks. Pacific-Basin Finance Journal. 67. 101523. (ABS2, JCR Q1). DOI / PDF.

11. Li Zhiyong, Crook J, Andreeva G & Tang Y. (2021). Predicting the Risk of Financial Distress using Corporate Governance Measures. Pacific-Basin Finance Journal. 68. 101334. (ABS2, JCR Q1). DOI / PDF.

10. 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). 183(2):631-654. (ABS3, JCR Q1). DOI / PDF.

9. Li Zhiyong, Tang Y, Wu J, Zhang J & Lv Q. (2020). The interest costs of green bonds: credit ratings, corporate social responsibility, and certification. Emerging Markets Finance and Trade. 56(12):2679-2692. (ABS2, JCR Q3). DOI / PDF.

8. Shen F, Zhao X, Li Zhiyong, Li K & Meng Z. (2019). A novel ensemble classification model based on neural networks and a classifier optimisation technique for imbalanced credit risk evaluation. Physica A: Statistical Mechanics and its Applications. 526. 121073. (JCR Q2). DOI​ / PDF.

7. Li Zhiyong, Li K, Yao X & Wen Q. (2019). Predicting prepayment and default risks of unsecured consumer loans in online lending. Emerging Markets Finance and Trade. 55(1):118-132. (ABS2, JCR Q3). DOI / PDF.

6. Tang Y, Moro A, Sozzo S & Li Zhiyong. (2018). Modelling trust evolution within small business lending relationships. Financial Innovation. 4:1-19. (JCR Q1). DOI / PDF.

5. 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. (JCR Q1). DOI / PDF.

4. Li Zhiyong, Crook J & Andreeva G. (2017). Dynamic prediction of financial distress using Malmquist DEA. Expert Systems with Applications. 80:94-106. (ABS3, JCR Q1). DOI / PDF.

3. 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. (ABS3, JCR Q1). DOI / PDF.

2. 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. (ABS2, JCR Q3). DOI / PDF.

1. 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. (ABS3, JCR Q2). DOI / PDF.

5. Credit Scoring and Its Application. (2020). China Financial Publishing House: Beijing, ISBN: 9787522005560, 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.

4. The Principle and Practice of Credit Rating. (2019). Part I: Theories of credit rating. China Financial Publishing House: Beijing, ISBN: 9787504998491

3. Fintech Operations in China. (2018). Chapter 12: Infrastructure development, Social Sciences Academic Press (China): Beijing, ISBN: 9787520128612

2. 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.

1. 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.

• 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, Liu Y, Lan D, Li Z. (2019) A Dynamic Financial Distress Forecast Model with Time-Weighting Based on Random Forest. 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. 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.

• Yuan G, Zhou Y, Yan C, Li Z et al. (2022) A Feature Extraction Method on Corporate Financial Fraud. Chinese Journal of Management Science (CSSCI), forthcoming
• 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 (CSSCI). 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 (CA). 22(2):68-73.

• Ownership structure, Environmental Information Disclosure Quality and the Financing Cost of Green Bonds: Evidence from China，EMFT
• The profitability of online loans: a competing risks analysis on default and prepayment, s.t. EJOR

• Credit Scoring and Credit Rating (2020, Chengdu; 2022 Ningbo)
• China International Risk Forum (2016, Shanghai; 2019, Tianjin; 2020, Online; 2021, Chengdu)
• Credit Scoring and Credit Control (2009, 2011, 2013, 2015, 2017, 2019, 2021, Edinburgh)
• International Risk Management Conference (2015, Luxembourg; 2016, Jerusalem; 2017, Florence; 2020, Online)
• WRDS Advanced Research Scholar Program at the Wharton School of UPenn (2018, Philadelphia; 2019 Beijing)
• International Conference on Internet Finance (2019, Hangzhou)
• 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)
• 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)

• 4 PhD in Finance: Aimin Li (2018-), Chen Feng (2019-), Quansheng Xuan (2020-), Lijun Fu (2021-)
• 4 DBA in Management: Xiaotang Tang (2019-), Hao Sun (2019-), Zengyi Xue (2021-), Jie Ouyang (2022-)
• 63 Master students in Finance/Financial Engineering/Credit Management
• 17 MBA&EMBA students and projects
• 10 MF projects and dissertations