Yifei ZHANG
Dr. Yifei ZHANG
经济学
Senior Lecturer
BEcon/BEcon & Fin Deputy Programme Director and Admissions Tutor

3910 3102

KK 1332

Academic & Professional Qualification
  • Ph.D. in Economics, The Chinese University of Hong Kong
  • M.A. in Economics, The State University of New York at Albany
  • B.Sc. (Honors) in Applied Mathematics, Hong Kong Baptist University
Biography

Dr. Yifei Zhang is a senior lecturer at the HKU Business School. Prior to joining the University of Hong Kong, he taught at the Hong Kong Polytechnic University and Beijing Normal University-Hong Kong Baptist University United International College.

Dr. Zhang’s research interests include Chinese Economy, Development Economics, and Political Economy. Upon graduation, he did Ph.D. internship at the Hong Kong Institute for Monetary Research (HKIMR) and worked at the Chinese University of Hong Kong as a postdoctoral fellow. His works appear in peer-reviewed journals such as Journal of Comparative Economics, Economics Letters, Small Business Economics, China Economic Review, etc.

Dr. Zhang has experience teaching various economics courses, such as Chinese Economy, Econometrics, Game Theory, etc. He also has a passion for supervising and collaborating with his students. The co-authored works have been published in academic journals such as: Journal of Comparative Economics, Economics Letters, Small Business Economics, Applied Economics, International Review of Economics & Finance, and International Studies of Economics.

Research Interest
  • Chinese Economy
  • Development Economics
  • International Finance
  • Political Economy
Selected Publications

Selected Working Papers

  • Zhang, Q. & Zhang, Y. “Competitive Borrowings in Squeezing Marriages.”
  • Bu, J., Du, J., & Zhang, Y. “Host-State-Friendly BIT Reforms and Foreign Direct Investment.”

Journal Articles

  • Ashton, J., Wang, Y., & Zhang, Y. (2024). “Does Mutual Fund Ownership Increase Corporate Environmental Spending?” Journal of Business Research, 184, 114878.
  • Du, J., & Zhang, Y. (2024). ISDS Disputes, Adjudications and Cross-Border M&As. Journal of Corporate Finance, 87, 102594.
  • Wang, Y., Chen, X., Zhang, Y.(2024). “Do Alumni Relationships between Executive Directors and Auditors Matter for Financial Reporting Quality?” Accounting Forum, forthcoming.
  • Wang, Y., Zhang, Y., Chang X., Wei, K., (2024). “CEO Tenure and Environmental Fraud for Listed Family Firms.” Business Strategy and the Environment, 33(3), 1887-1905.
  • Du, J., & Zhang, Y. (2024). “The Impact of ISDS Arbitration Claims and Adjudication on Cross-Border Direct Investment.” Transnational Corporations Review, forthcoming.
  • Liu, Y., Zhang, Y., Yang, Y., & Chen, X. (2023). Dark Side of Environmental Regulation: Wage Inequality Cost. Journal of Comparative Economics, 51(2), 524-544.
  • Rouse, M., Ottemoesoe, S., Wang, Y., Zhang, Y. (2023). “Do Female Independent Directors Reduce Corporate Risk Taking During COVID-19?” Asia-Pacific Journal of Accounting & Economics, 1-20.
  • Liu, Y., Zhang, Y., Zhang, Y., & Xiao, H. (2022). Small business owners’ Fintech credit in crises: Theory and evidence from farmers under the COVID-19. Pacific-Basin Finance Journal, 71, 101692.
  • Liu, Y., Zhang, Y., Fang, H., & Chen, X. (2022). SMEs’ line of credit under the COVID-19: evidence from China. Small Business Economics, 58(2), 807-828.
  • Wang, Y., Zhang, Y., Kang, W., & Ahmed, A. H. (2022). Female analysts and COVID-19 corporate donation. Emerging Markets Review, 100941.
  • Zhang, Y., Liu, Y., Zhang, Y., & Chen, X. (2022). Globalization blueprint and households’ fintech debt: Evidence from China’s One Belt One Road initiative. International Review of Economics & Finance, 79, 38-55.
  • Chen, X., Fang, H., Liu, Y., & Zhang, Y. (2022). Does Chinese policy banks’ overseas lending favor Belt Road Initiative countries?. International Studies of Economics.
  • 张云, 刘芸, & 章逸飞. (2022). “房住不炒” 政策的股市溢出效應 ——包含房產要素的動態均衡模型與資產定價研究. 系統工程理論與實踐, 865-878.
  • Liu, Y., Zhang, Y., Chen, X., & Yang, Y. (2021). Superstition and farmers’ life insurance spending. Economics Letters, 206, 109975.
  • Xiao, H., Chen, X., Fang, H., & Zhang, Y. (2021). Insider share pledging and firm value consequences under the COVID-19: evidence from China. Applied Economics, 53(56), 6522-6534.
  • Chen, X., Xiao, H., & Zhang, Y. (2021). To what extent did independent directors help firms’ recovery during the COVID-19 pandemic? Evidence from China. Applied Economics, 53(38), 4464-4480.
  • Wang, Y., & Zhang, Y. (2020). Do state subsidies increase corporate environmental spending?. International Review of Financial Analysis, 72, 101592.
  • Du, J., & Zhang, Y. (2018). Does one belt one road initiative promote Chinese overseas direct investment?. China Economic Review, 47, 189-205. (Elsevier Awards for the Best Papers published in China Economic Review in 2018.)

Book Chapters

  • Wang, Y., Zhang, Y., & Chen, X. (2023). “Detecting financial statement fraud using the machine learning methods.” FinTech Research and Applications: Challenges and Opportunities. World Scientific.
  • Du, J., & Zhang, Y. (2022). “In Fear of Trojan Horse? China’s Cross-Border Acquisitions in Europe amid the One-Belt-One-Road Initiative.” China and the Belt and Road Initiative: Trade Relationships, Business Opportunities and Political Impacts. Springer: Understanding China Series.
  • Du, J., Fang, H., & Zhang, Y. (2021). “One Belt One Road Initiative and China’s Overseas Lending.” Belt and Road Initiative (BRI): China’s Global Business Footprint. Centre for Business & Economic Research.
  • Du, J., & Zhang, Y. (2019). “One Belt One Road Initiative and China’s Overseas Direct Investment.” In Yuan Li, Markus Taube (Ed.), How China’s Silk Road Initiative is Changing the Global Economic Landscape (pp. 130-165). Routledge.
Recent Publications
南向通加码,资金周转瓶颈可解?

内地企业离岸发债总额约七成在港进行,中国人民银行宣布将债券通“南向通”年度投资净额由人民币5,000亿元提升至人民币8,000亿元,港大经管学院章逸飞博士接受《新华网》访问时表示,“南向通”原有额度一直偏紧,这次加码可说是及时回应市场需求。

香港邮政财困可解 ? 定位才是关键

香港邮政连续8 年录得亏损。港大经管学院章逸飞博士接受《大公报》访问时认为,症结在于“定位不清”:其长远定位究竟应为政府部门、自负盈亏机构,还是引入私营资本、走向“公私营合作模式”?

父亲节变消费节 孝心也可量化?

港大经管学院经济学高级讲师章逸飞博士接受《大公报》访问时指出,当“我想念父亲”被翻译成“该买什么”,市场在降低表达成本的同时,也将无价的心意重新定价为可比较、可炫示、可外包的消费行为。

中国“后地产时代”:地方政府从“卖地”到“做股东”的转型成功了吗?

港大经管学院的章逸飞博士接受BBC中文访问时称土地财政是一次性出让,卖一块少一块;股权财政是循环投资,可增值退出再投入,且可以撬动社会资本,培育产业、并能为高研发风险的领域分担风险。

SpaceX IPO:故事与数字的星空角力

在梦想与现实的对垒之中,故事让人憧憬未来,数字则助人认清现况;投资者兼听则明,偏信则暗。今次史诗级招股最实用的一课,未必是应否追捧,而是学会分清故事与数字;作出决定前,不妨先问自己愿意为想像力付出多少溢价,再按能够承受的波幅去调整注码。毕竟在资产配置的世界里,再壮丽的星辰大海,也只应是组合里的一部分,而非整体。

当关税壁垒闹上法庭——一堂千亿美元的宪法课

本年2月20日,美国最高法院以六比三的裁决,在Learning Resources, Inc. v. Trump一案中作出里程碑式的判决:总统无权依据《国际紧急经济权力法》(International Emergency Economic Powers Act;简称IEEPA)单方面征收关税。

AI时代的一人公司:机遇、内卷与护城河

2025年,被业界称为"Agent元年"。AI正在从辅助工具变成能自主决策的"虚拟合伙人":过去需要团队协作完成的代码开发、设计、文案等工作,现在可以由创始人编排一组AI Agent来完成。与此同时,另一组数据同样醒目:"结构性替代"正在发生,当下企业在逐步调整人力模型:用AI做更多事、用更少的人完成标准化流程。

最强后盾/内地燃油稳定供港

中东局势紧张推动油价升至2022年以来高位,港大经管学院经济学高级讲师章逸飞接受《大公报》访问时,就本港所受冲击提出三重隐忧。