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Yuanshun Li Ph.D. in Finance Associate Professor of Finance
Finance Department Ted Rogers School of Business Management Office: TRS 1-074
350 Victoria St., Toronto, ON, Canada M5B 2K3 Tel: 1-416-979-5000, ext. 6711 Fax: 1-416-979-5266
Homepage: http://people.ryerson.ca/yuli Email: yuli@ryerson.ca |
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Professor Li's research covers the intersection of theoretical and empirical real option applications in corporate finance and infrastructure project finance. His work in game theoretic real option model shows the optimal decisions for firms with large irreversible capital investments in a competitive vs. cooperative setting (e.g. the oil & gas industry or the real estate industry). His recent work in real option risk analysis applies to a research project for PPP (public-private partnership) Canada, analyzing and comparing the residual value risk of a PPP model vs. that of a traditional DBB (Design-Bid-Build) model for public projects, focusing on large infrastructure projects, recently published in the Journal of Infrastructure Systems.
Professor Li's research in corporate governance investigates a unique governance feature, the two-tier board structure (i.e., the supervisory board and the management board), used by firms publicly listed in Chinese stock market. His work shows the two-tier board structure has profound implications for firms` risk-taking behaviour, and their reactions to the stock market regulatory compliance and enforcement. These findings are published in Journal of Business Ethics (FT top 50), and other leading academic journals including European Journal Finance, Review of Quantitative Finance and Accounting. Professor Li also coauthored a chapter, ''Institutional shareholders and executive compensation: An ethical view'', in the book titled, Entrepreneurship, Finance, Governance and Ethics (Springer 2013).
Professor Li's recent research interests include behavioral investing, structured financial products and hedge fund management. His work about investor attention and stock return under negative shocks has been published in the Journal of Business Economics and Management. |
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Research grants |
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Year: 2016 Source: Centre for Urban Research and Land Development Purpose: Transportation Financing, Capital Structure and Public-Private Partnership Amount: $7,500 Principal Investigator: Yuanshun Li Co-investigator: Xianxun (Arnold) Yuan
Year: 2015 Source: PPP Canada Purpose: Understanding the Residual Value Risks in Public-Private Partnerships Amount: $83,020 Principal Investigator: Yuanshun Li Co-investigator: Xianxun (Arnold) Yuan
Year: 2015 Source: TRSM-FB PolyU Joint Research Seed Grant Purpose: Game Theoretic Real Option Investment Decision, Applications to Canada-China Collaboration in Energy Industry Amount: $10,000 Principal Investigator: Yuanshun Li Co-investigator: Fung King Fai, Mike and CHU, KC Kenneth
Year: 2012-2014 Source: Ryerson TRSM Internal Research Grant Purpose: Real Options, Value of Growth and Financial Leverage Amount: $5,000 Principal Investigator: Yuanshun Li
Year: 2010-2011 Source: Ryerson SSHRC Institutional Grant Purpose: Firms' Multiple Listing Decision and Stock Price Discovery Amount: $6,969 Principal Investigator: Yuanshun Li
Year: 2009-11 Source: Ryerson New Faculty SRC Development Fund Purpose: Firm cross-listing and financing decision, investment decision and corporate governance structure Amount: $9,985 Principal Investigator: Yuanshun Li
Year: 2009-11 Source: Ryerson Faculty Startup Fund Amount: $10,000 Principal Investigator: Yuanshun Li |
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Selected publications |
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Financial Times-50 Publications
Ding, S., Jia, C., Li, Y., Wu, Z., 2010, Reactivity and Passivity after Enforcement Actions: Better Late than Never, Journal of Business Ethics, 95, 2nd Special issue on ''Entrepreneurship, Governance and Ethics'', 337-359.
Jia, C., Ding, S., Li, Y., Wu, Z., 2009, Fraud, Enforcement Action, and the Role of Corporate Governance: Evidence from China, Journal of Business Ethics, 90 (4), 561-576.
Other Refereed Publications
X Zhai, Y Hou, Y Li, 2020, Investor attention and stock returns under negative shocks: an empirical analysis based on Dragon and Tiger list in China, Journal of Business Economics and Management 21 (3), 914-941.
Yuan. X, Li, Y., 2018, Residual Value Risks of Highway Pavements in Public-Private Partnerships, Journal of Infrastructure Systems 24 (3).
Wu, Z., Li, Y., Ding, S., Jia, C., 2013, A Separate Monitoring Organ and Disclosure of Firm-Specific Information, European Journal Finance.
Ding, S., Wu, Z., Li, Y, Jia, C., 2010, Executive Compensation, Supervisory Boards, and China's Governance Reform: A Legal Approach Perspective, Review of Quantitative Finance and Accounting, 35 (4), 445-471.
Book Chapters
Ding, S., C. Jia, Y. Li, & Z. Wu. 363- 387, 2013. Institutional shareholders and executive compensation: An ethical view. Entrepreneurship, Finance, Governance and Ethics, edited by Douglas Cumming, Robert Cressy, and Chris Mallin. Published by Springer Science and Business Media B.V., Dordrecht. |
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Teaching |
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Research interests |
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i) Game theoretic real option theory and application
ii) Corporate governance and corporate finance
iii) Investment management |
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Undergraduate Courses
2019-2021 AFF420, Principles of Finance III 2009-2021 AFF711/FIN711, Advanced Portfolio Management 2013-2021 AFF621, Advanced Investment Management 2010-2012 FIN501, Investment analysis I 2010-2021 FIN401, Managerial Finance II 2009-2010 FIN300, Managerial Finance I 2008-2011 FIN801, Financial Risk Management
Undergraduate Courses (Development)
2019-2021 FIN65/75, Applied Investment Management I and II, course design and development for SMIF (Student Managed Investment Fund) 2013 FIN521/AFF621, Advanced Investment Analysis, course redesign/redevelopment 2008-2009 FIN801, Financial Risk Management, course redesign and redevelopment FIN711, Advanced Investment Management, course r edesign and redevelopment
Graduate Courses
2010-2011 MB8602, Investment for Managers 2009-2010 MB8703, Corporate Financial Analysis |
