Li, Gang
Li, Gang 李罡
BSc (RUC); MBA (Fordham); PhD (University of Toronto); CFA
Assistant Professor
Contact
Department of Finance
Room 1248, 12/F
Cheng Yu Tung Building
12 Chak Cheung Street
Shatin, New Territories, Hong Kong
+852 3943 1914
Biography
Professor Gang Li is an Assistant Professor of Finance at The Chinese University of Hong Kong (CUHK). He received his PhD in Finance from University of Toronto, MBA from Fordham University, and BSc in Statistics from Renmin University of China. His research focuses on asset pricing, financial derivatives, FinTech, and investment. He has presented his research at numerous academic conferences and published in Management Science and Journal of Financial and Quantitative Analysis. Before joining CUHK, he worked for a global macro hedge fund in the United States and an asset management firm in China. Professor Li is a CFA charterholder and a member of CFA Society Hong Kong. He also serves as an ordinary member for Hong Kong Securities and Investment Institute (HKSI).
Teaching Areas
FinTech
Financial Management
Research Interests
Asset Pricing
Financial Derivatives
Machine Learning
Investment
FinTech
Publications & Working Papers
Publication
- Jie Cao, Gang Li, Xintong Zhan, and Guofu Zhou (2026), “Betting Against the Crowd: Option Trading and Market Risk Premium,” Journal of Financial and Quantitative Analysis, forthcoming.
- Bing Han and Gang Li (2025), “Idiosyncratic Volatility and the Intertemporal Capital Asset Pricing Model,” Journal of Financial and Quantitative Analysis, 60(8), 3694–3721.
- Yoontae Jeon, Raymond Kan, and Gang Li (2025), “Stock Return Autocorrelations and Expected Option Returns,” Management Science, 71(6), 4533–5418.
- Bing Han and Gang Li (2021), “Information Content of Aggregate Implied Volatility Spread,” Management Science, 67(2), 1249–1269.
Working Papers
- Fousseni Chabi-Yo, Da-Hea Kim, and Gang Li (2025), “Conditional Expected Returns on Individual Stocks with and without Intertemporal Hedging.”
- Gang Li, Dandan Qiao, and Mingxuan Zheng (2025), “Structured Event Representation and Stock Return Predictability.”
- Jie Cao, Bing Han, Gang Li, Ruijing Yang, and Xintong Zhan (2024), “Forecasting Option Returns with News.”
- Jie Cao, Gang Li, Russell Wermers, Xintong Zhan, and Linyu Zhou (2023), “Do Insurers Listen to Earnings Conference Calls? Evidence from the Corporate Bond Market.”
Grants
- “Equity Options Trading Activity: A Portfolio Perspective”, awarder by General Research Fund with HKD 600,000, 2024 (Principal Investigator)
- “Social Responsibility Performance and Option Market”, awarder by National Natural Science Foundation of China General Project with CNY 450,000, 2023 (Co-Principal Investigator)
- “Deep Learning and Option Return Prediction”, awarder by Project Impact Enhancement Fund with HKD 200,000, 2021 (Principal Investigator)
Awards & Honours
- Best Paper Award from the 9th China Derivatives Youth Forum (2025)
- Best Paper Award from Hong Kong Fintech, AI and Big Data in Business (2024)
- Best Paper Award from the 6th China Derivatives Youth Forum (2023)
- Best Paper Award from the Asia-Pacific Association of Derivatives (2019)
- Outstanding Paper Award from China International Forum on Finance and Policy (2018)
Financial Times Masters in Finance 2025 Pre-experience Programmes Ranking