Steven Shuye Wang Depart.:Finance Academic Title:Professor Tel:8610-82500543 Fax:8610-62517007

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1998  Ph.D., Finance & Management Science (Double Majors), Queen’s University, Canada

1985  Master, Statistics, Renmin University of China

1982  Bachelor, Statistics, Renmin University of China

Working Experiences

2013-Present  Professor of Finance, Renmin Business School, Renmin University of China

1999-2013      Assistant Professor and Associate Professor of Finance, School of Accounting & Finance, The Hong Kong Polytechnic University      

1990-1996      Lecture and Adjunct Lecturer, Dept. of Economics, Concordia University, and School of Business, Queen’s University, Canada

1987-1988      Visiting Scholar, ILR, Cornell University, USA

1985-1990      Lecturer, Dept. of Statistics, Renmin University of China

Research Interests

Assets Pricing, Behavioral Finance, China and International Financial Markets and Institutions, Derivative Securities


Corporate Finance, International Finance, Investment, Assets Pricing, China’s Financial Markets & Institutions



Selected Academic Articles:
1. Li, X., Wang, S., Wang, X., 2017. Trust and stock price crash risk: Evidence from China. Journal of Banking and Finance 76, 74-91.
2. Li, W., Rhee, S.G., Wang, S., 2017. Differences in herding: individuals vs. institutions
  in China. Pacific-Basin Finance Journal 45, 174-185.
3. Jaggi, B., Li, W., Wang, S., 2016. Individual and institutional investors’ response to earnings reported by conservative and non-conservative firms: Evidence from Chinese financial markets, Journal of International Financial Management and Accounting 27(2), 158-207.
4. Firth, M., Li, W., Wang, S., 2016. The growth, determinants, and profitability of
 nontraditional activities of Chinese commercial banks. European Journal of Finance
 22(4-6), 259-287.
5. Chen, Y., Wang, S., Li. W., Sun, Q., Tong, W., 2015. Institutional environment, Firm
  ownership, and IPO first-day returns: Evidence from China. Journal of Corporate Finance 32, 150-168.
6. Li, W., Wang, S., 2010, Daily institutional trades and stock price volatility in a retail 
   investor dominated emerging market.  Journal of Financial Markets 13(4), 448-474. 
7. Lee, B., Li, W., Wang, S., 2010. The dynamics of institutional and individual trading
  on the Stock Exchange of Shanghai. Pacific-Basin Finance Journal 18(1), 116-137.
8. Leung, T., Rui, O., Wang, S., 2010. Stock splits and insider trading. China
   Accounting and Finance Review, 12(1), 64-108.
9. Wang, S., Li, W., 2009. Short-selling, floating constraints, and cross-listed stock
  prices. China Accounting and Finance Review 11(4), 47-100.
10. Wang, S., Li, W., Cheng, L., 2009. The impact of H-share derivatives on the
 underlying equity market. Review of Quantitative Finance and Accounting 32(3),
11. Firth, M., Li, Y., Wang, S., 2008


Wang, S., Long, C., Wu, W., Xue, H., 2011, Investment Value Analysis of Chinese Commercial Banks, China Financial Publishing House, July 2011. ISBN 978-7-5049-5821-1.

Wang, S. et al., 2000. Facing WTO: China’s Financial Industry and Primary Materials Industries, Economic Management Publishing House, Beijing, China. November 2000. ISBN 7-80162-053-4/F∙50.

Zhou, F., Wang, S., Huang, Y., Applied Mathematical Statistics, The Central Television and Broadcasting University of China Press, June 1987. ISBN 7-304-00078-3/C∙4. (In Chinese)

Services & Awards

Key community services

Executive Editor-in-Chief, Frontiers of Business Research in China, since 2013.

Honors and Awards

2016     Best International MBA Teaching Award, School of Business, Renmin University of China.

2012.06  Best Paper Award, for the paper “The growth, determinants, and profitability of nontraditional activities of Chinese commercial banks”, co-authored with M. Firth, and W. Li. The 2nd European Journal of Finance Special Issues Conference on the Chinese Capital Market. June Durham, U.K.

2009.06  Best Paper Award, for the paper “Short-selling and floating constraints and cross-listed stock prices”, co-authored with W. Li. China Accounting and Finance Review International Symposium, Nanjing, China.

2007.09   Hong Kong Asian Capital Markets Research Prize – 2007, for the paper Short interest, insider trading, and stock returns, co-authored with T. Leung and O. Rui, the CFA Institute, the Research Foundation of CFA Institute and the Hong Kong Society of Financial Analyst, Hong Kong, China.

RMBS made the Top-50 list of MBA,
EMBA and EE programs——The Financial Times

Renmin University of China

@Business School, Renmin University of China 京ICP备05066828号-1