BUS News

Dr. Liyao WANG Awarded Young Scientists Fund from National Natural Science Foundation of China (NSFC)

15 Oct, 2024

The School of Business is proud to announce that Dr. Liyao WANG, Assistant Professor, Department of Accountancy, Economics and Finance, has been awarded the prestigious Young Scientists Fund from the National Natural Science Foundation of China (NSFC). This recognition highlights Dr. WANG’s exceptional research in the field of factor investing in China’s A-share market.

Her research, titled “Lottery Preference for Factor Investing in China’s A-Share Market”, found that high-return investment factors with very high daily returns tend to perform better in the future. This consistent pattern, known as the “factor MAX premium”, helps explain many stock market anomalies. These findings highlight investors’ preference for high-return factors, shedding light on investment behaviours in China’s A-share market.

Dr. WANG is among five scholars from the Hong Kong Baptist University (HKBU) to receive this honour in 2024. While Dr. WANG is from the School of Business, the other four awardees are from the Faculty of Science. Each recipient of the Young Scientists Fund will receive RMB 300,000 to support their research initiatives for three years. This fund aims to empower young scholars to conduct fundamental research in their disciplines, enhancing their skills and creativity, enabling them to undertake innovative projects independently, and advancing the next generation of scientists.