Published on: 2015-03-05
The Wall Street Journal quoted IEMS’ Xi Li, Faculty Associate of IEMS and Assistant Professor of Accounting at HKUST in an article on China’s long, slow road to market reform published on March 5th, 2015.
PhD, Vanderbilt University
Associate Professor, Department of Accounting
Tel (852) 2358 7560
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AREAS OF EXPERTISE
Global macro investments, international corporate governance, Chinese economy, sell-side analyst, product market competition, earnings management, corporate financing events
Xi Li has predicted the 2008 financial crisis, the 2009 market turnaround, and most of global macro events afterwards in both emerging and developed markets (e.g., he predicted China’s dramatic slowdown, the economic deterioration in countries such as Brazil, Russia, and Australia, and the relative recovery of the United States in 2011). He has also predicted the quant debacle in 2008, momentum reversal in 2009, and recommended effective remedies. He has worked for Acadian Asset Management and State Street Global Advisors as portfolio manager and senior researcher, spoken at various industry events, and taught at various top ranked MBA programs. He has published in top academic and practitioner journals and won various research awards from academic and practitioner associations. Once in Asia, he has been invited to consult with various institutions and organizations, as well as individuals, on asset allocation and stock selection.
SELECTED PAPERS & PUBLICATIONS
- The persistence of relative performance in stock recommendations of sell-side financial analysts, Journal of Accounting and Economics 40, pp. 129-152, 2005.
- An anatomy of all-star analyst rankings (with Douglas Emery), Journal of Financial and Quantitative Analysis 44, pp. 411-437, 2009.
- The Sarbanes-Oxley Act and cross-listed foreign private issuers, Journal of Accounting and Economics 58, 21-40, 2014.
- The effect of increased disclosure on post-earnings-announcement drift: Worldwide evidence (with Mingyi Hung and Shiheng Wang, accepted at Review of Financial Studies.
- A dynamic future for active quant investing (with Rodney Sullivan), Journal of Portfolio Management 37 (3), pp. 29-36, Spring 2011.
- The limits to arbitrage revisited: The accrual and asset growth anomalies (with Rodney Sullivan) Financial Analysts Journal 67, (4-5) pp. 50-66, July/August, 2011.
- Asset growth and future stock returns: International evidence, with (Ying Becker and
Didier Rosenfeld) Financial Analysts Journal 68 (3), 51-62, May/June, 2012.
- Gender and sell-side analysts: Performance, behavior, and career outcomes (with Rodney Sullivan, Dan Xu, Guodong Gao), Financial Analysts Journal 69 (2), 83-94, March/April 2013.
[Media Coverage] China’s Long, Slow Road to Market Reforms – The Wall Street Journal Quotes IEMS’ Xi Li
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“China has always concentrated lots of resources and spending on infrastructure and investment,” said Li Xi, an accounting professor at Hong Kong University of Science and Technology. “At the beginning that works, helping resolve bottlenecks, and the community gains. But over time it creates a monster that keeps investing, diverting money from ordinary people that could be spent on other things.”
Read the full article here.
[Bio] Xi Li
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