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I am a Senior Lecturer in Finance at RMIT University, Melbourne. My research empirical equity and fixed income asset pricing, fund management, credit risk, machine learning application in finance, and sustainable/ESG finance. 

Publication

Publication

  1. Wang, J.,Hu, X.,Zhong, A. (2023). Stock Market Reaction to Mandatory ESG Disclosure In: Finance Research Letters, 53, 1 - 9

  2. Yu, M.,Hu, X.,Zhong, A. (2023). Trade links and return predictability: The Australian evidence In: Pacific-Basin Finance Journal, 78, 1 - 17

  3. Guo, X.,Hu, X.,Tam, O. (2023). Chapter 7 Artificial Intelligence and Machine Learning in Fund Performance Evaluation-A Review In: FinTech Research and Applications: Challenges and Opportunities, World Scientific, Singapore

  4. Hu, X.,Luo, H. (2023). Like a duck to water: Do credit rating analysts outperform in bond fund management In: Journal of Corporate Finance, 82, 1 - 30

  5. Hu, X.,Yu, J.,Zhong, A. (2023). The asymmetric effects of oil price shocks on green innovation In: Energy Economics, 125, 1 - 14

  6. Altman, E.I., Hu, X. and Yu, J. (2022). Has the Evergrande Debt Crisis Rattled Chinese Capital Markets? A Series of Event Studies and Their Implications. A Series of Event Studies and Their Implications In: Finance Research Letters.

  7. Hu, X., Zhong, A. and Cao, Y. (2022). Greenium in the Chinese corporate bond market In:. Emerging Markets Review.

  8. Yu, M., Hu, X. and Zhong, A. (2022). The Spread of COVID-19 in Stock Returns along Global Value Chains In: The Spread of COVID-19 in Stock Returns along Global Value Chains.

  9. Bissoondoyal-Bheenick, E.,Do, H.,Hu, X.,Zhong, A. (2022). Sentiment and stock market connectedness: Evidence from the U.S. – China trade war In: International Review of Financial Analysis, 80, 1 - 17

  10. Chiah, M., Hu., X, Zhong., A. (2021). Photo sentiment and stock returns around the world In: Finance Research Letter

  11. Hu, X.,Luo, H.,Xu, Z.,Li, J. (2021). Intra-industry spill-over effect of default: Evidence from the Chinese bond market In: Accounting & Finance, 61, 4703-4740.

  12. Hu, X.,Shi, J.,Wang, L.,Yu, J. (2020). Foreign Ownership in Chinese Credit Ratings Industry: Information Revelation or Certification? In: Journal of Banking & Finance, 118, 1 - 22

  13. Chang, Z.,Hu, X.,Pan, Z.,Shi, J. (2020). Rating shopping: evidence from the Chinese corporate debt security market In: Accounting and Finance, 61, 2173-2200

  14. Bissoondoyal-Bheenick, E.,Do, H.,Hu, X.,Zhong, A. (2020). Learning from SARS: Return and Volatility Connectedness in COVID-19 In: Finance Research Letters

  15. Hu, X.,Huang, H.,Shi, J.,Wang, H. (2019). CRA Reputation and Bond Yield: Evidence from the Chinese Bond Market In: Asia-Pacific Journal of Financial Studies, 48, 185 - 209

  16. Hu, X.,Huang, H.,Pan, Z.,Shi, J. (2019). Information Asymmetry and Credit Rating: A Quasi-natural Experiment from China In: Journal of Banking and Finance, 106, 132-152

  17. Hu, T.,Hu, X.,Huang, H.,Shi, J.,Wang, H. (2019). Locational effects and the cost of corporate bonds: the role of information In: Accounting & Finance, 59, 1977-2016

Education

Education

  • 2017, PhD in Finance, RMIT University, Melbourne

  • 2011, Master of Finance, PBC School of Finance, Tsinghua University, Beijing

  • 2008, Bachelor of Finance, Central University of Finance and Economics, Beijing

Industry experience

Industry experience

  • Guosen Securities Co., Ltd, Fixed Income Department (Beijing)                  2012.12-2015.3                              

  • Fixed Income Portfolio Manager (Dec 2013-Mar 2015)

    • -Managing 2 billion RMB AUM portfolios for wholesale clients

    • -Monitoring the performance of the portfolios

    • -Constructing investment portfolios, including arranging repurchase agreements with financial organizations to meet daily liquidity requirements, monitoring trading on the OTC market and exchange markets.

    • -Preparing quarterly performance reports for clients.

  • Senior Credit Risk Analyst (Dec 2012-Dec 2013)

    • -Engaging in building and maintaining the internal corporate bond credit rating models

    • -Monitoring the credit risk of bond holdings (13 billion RMB AUM portfolio)

    • -Providing bond investment advice based on bonds' risk and return

    • -Collecting macroeconomic, industrial and microeconomic data to analyze the general trend of bond yield, to support the investment decision.

  • China Cheng Xin International Credit Rating (Beijing) (Affiliate of Moody’s)   2011.01-2012.12

  • Senior Credit Rating Analyst

    • -Credit analysis of a variety of corporates, and ensure the rating actions and review are performed on a timely basis

    • -Credit risk modeling, including cash flow and simulation models

    • -Monitoring of macro-economic and industry conditions and trends

    • -Write informative and high-quality credit rating reports and industrial credit research reports

    • -Representing CCXI at external outreach events, such as seminars, conferences and one-on-one meetings

Projects

Projects

  1. Asset Market Liquidity, Strategic Complementarity, and Bond Fund Flows (with Jung Hoon Lee and Shyam Venkatesan), Link

  2. China's Green Bond Evolution: Addressing Financial Constraints for Sustainable Development, Link

  3. The impact of air pollution on cost of debt: evidence from corporate bond markets (with Angel Zhong and Youdan Cao), Link

  4. Understanding Credit Risk for Chinese Companies using Machine Learning: A Default-Based Approach (with Edward Altman and Jing Yu), Link

  5. Dynamic Optimality of Airline Fuel Cost Hedging (with Liuren Wu and Malick Sy), Link

  6. Toward a Factor Model of Relative Valuation (with Liuren Wu and Malick Sy), Link

  7. Who Watches the Book Build? Supervising Primary Bondmarkets to Reduce Agency Costs (with Sean Foley, Rachel Huang and Jiang Li), Link

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