Joint Lab of Finance and Business Intelligence

Based on behavioral finance theory and neurofinance theory, Joint Lab of Finance and Business Intelligence is dedicated to modeling the decision-making behavior of financial markets and constructing transaction algorithms. From the two core modules of trading algorithm and trading system, the technical bottleneck of financial-market intelligent algorithm trading system is broken through. The application of algorithm trading in the stock, futures, and foreign exchange markets is explored. And an intelligent investment adviser financial quantitative trading system based on a digital intermediate platform is constructed. This includes extracting the characteristic variables that can accurately reflect the investors in the stock market, futures market, and foreign exchange market based on the frontier behavioral finance theory and neurofinance theory; Artificial intelligence method is adopted to continuously optimize and iterate, break through the limitations of traditional financial transaction algorithms, and form the core of a new generation of intelligent financial quantitative transaction algorithm database. It will build a clear design blueprint for an intelligent investment and care financial quantitative trading system and optimize the recommendation service for the customer's financial investment product.

Joint Directors

Joint Director Prof. Xu Zhang, Neuroscientist, Academician of Chinese Academy of Sciences, TWAS (The World Academy of Sciences for the advancement of science in developing countries) Fellow, and Member of Chinese Academy of Medical Sciences. He received his Ph.D. of Neuroscience from Karolinska Institute, Sweden in July, 1994. In 1994, he successively worked as a lecturer, associate professor and professor, and deputy director at the Neuroscience Institute of Fourth Military Medical University. In 1999, he became a professor and principal investigator in Lab of Sensory System at Institute of Neuroscience, Shanghai Institutes for Biological Sciences, Chinese Academy of Sciences. In 2021, he was appointed as a professor of Shanghai Institute for Advanced Study, Chinese Academy of Sciences, Director of Shanghai Brain-Intelligence Engineering Center, and President of Guangdong Institute of Intelligent Science and Technology, respectively. He is also the President of the Chinese Neuroscience Society, the Vice President of the Chinese Society of Cell Biology, and the Vice President of the Pain Branch of the Chinese Medical Association.

Joint Director Prof. Xiaolan Yang. Xiaolan Yang is a Professor at Shanghai International Studies University, and the dean of School of Business and Management. She is also a research fellow of the Academy of Financial Research at Zhejiang University. She received her doctoral degree from Zhejiang University in 2005. Her major research interest includes behavioral finance, FinTech and experimental economics. Previously she was a visiting scholar for Department of Economics at Technology University Clausthal in 2008, for ICES at George Mason University in 2009 and for Center for Behavioral Economics at National University of Singapore from 2013 to 2014. Recent publications include papers in Journal of Economic Behavior & Organization and Economic Inquiry.

Publications

1. Xiaolan Yang,Yidong Huang; Wenchao Li, Economic preferencesand state-level corruption: global evidence and mechanism, Applied Economics Letters,2022.

2. Xiaolan Yang; Yidong Huang; Mei Gao，Can digital financial inclusion promote female entrepreneurship? Evidence and mechanisms,North American Journal of Economics and Finance, 2022.

3. Xuejun Jin; Xue Zho; Xiaolan Yang，How does economic policy uncertainty affect the relationship between household debt and consumption，Accounting & Finance，2022.

4. Xiaolan Yang; Wenting Meng; Shu Chen; Mei Gao; Jian Zhang，Are People Altruistic When Making Socially Responsible Investments? Evidence From a tDCS Study, Frontiers in Neuroscience, 2021.

5. Xuejun Jin; Keer Zhu; Xiaolan Yang; Shouyang Wang，Estimating the reaction of Bitcoin prices to the uncertainty of fiat currency，Research in International Business and Finance, 2021.

6. Xiaolan Yang; Teng Yuan Cheng; Yu Zhu，How the individual investors took on big data: The effect of panic from the internet stock message boards on stock price crash，Pacific-Basin Finance Journal，2020.

7. Xuejun Jin; Ziqing Chen; Xiaolan Yang，Economic policy uncertainty and stock price crash risk，Accounting & Finance, 2019.

8. Cadsby,DB; Song, F;Xiaolan Yang，Are “left-behind” children really left behind? A lab-in-field experiment concerning the impact of rural/urban status and parental migration on children's other-regarding preferences，Journal of Economic Behavior & Organization,2019.

9. Xiaolan Yang; Mei Gao;  Yun Wu; Xuejun Jin, Performance evaluation and herd behavior in a laboratory financial market， Journal of Behavioral & Experimental Economics,2018. 5.

10. Susanne Neckermann; Xiaolan Yang，Understanding the (unexpected) consequences of unexpected recognition. Journal of Economic Behavior & Organization, 2017, 135:131–142.

11. Michael Kosfeld; Susanne Neckermann; Xiaolan Yang，The Effects of Financial and Recognition Incentives Across Work Contexts: The Role of Meaning, Economic Inquiry, 2017.01

Books & Chapters

1. Behavioral Finance, Tsinghua University Press,2020

2. Early Warning and Emergency Response System for Stock Markets, 2015.

3. Behavioral Economics, 2009. 

Research Grants

1. Using Financial Tools to Optimize Individual Consumption Behavior: Research on Behavior Mechanism and Nudge Policy，National Natural Science Foundation of China, Research grants: ¥470,000,2022-2024

2. A Behavioral and neuro study on Stock Markets Crash：From Individual Irrationality to Irrationality of Crowds ,National Natural Science Foundation of China, Research grants: ¥490,000,2018-2022

3. The effect of Internet Media on Stock Markets: An empirical Study based on Text Mining,  National Natural Science Foundation of China, Research grants: ¥210,000,2013-2015