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University of Colorado Denver Business School, offering Bachelor, MBA, MS, and PhD degrees

Business School, University of Colorado Denver
 

Jian Yang | Director of Finance Program


Jian Yang, Professor of Finance

Education

  • Ph.D., Agricultural Economics, Texas A&M University 
  • M.S., Finance, Texas A&M University 
  • M.A., International Economics, Nankai University 
  • B.S., Chemistry, Nankai University

Courses Taught

  • Emerging Markets Finance FNCE/INTB 6460
  • Investment Analysis and Management
  • Investment and Portfolio Management FNCE 3700

Expertise

  • Investment
  • International finance
  • Time series econometrics

Research Interests

 

  • ​Investments (empirical asset pricing; monetary and fiscal policy impacts on financial markets; portfolio management; risk management; futures markets; CDS markets; market efficiency)
  • International finance (international financial market linkages and integration; exchange rates; Chinese financial markets)
  • Financial econometrics (financial time series analysis; causal modeling)
  • Real estate (international REITs market; real estate portfolio management; mortgage rates)
  • Corporate finance (corporate governance; corporate social responsibility; auditing; capital structure; wealth effects/event studies)

History

 

Certifications

  • ​Chartered Financial Analyst (CFA), CFA Institute, April 2003

Academic Experience

  • ​Professor of Finance, The Business School, University of Colorado Denver, May 2013 – present
  • Associate Professor of Finance,  The Business School, University of Colorado Denver, August 2007 – May 2013; tenured since June 2010
  • Associate Professor of Finance, Department of Accounting, Finance & MIS, Prairie View A&M University, September 2005 – May 2007; tenured since September 2005
  • Assistant Professor of Finance, Department of Accounting, Finance & MIS, Prairie View A&M University, September 2000 – August 2005
  • Visiting Assistant Professor of Economics, Division of Business and Computer Science, Blinn College, January 2000 – August 2000

Professional Experience

  • ​Assistant Engineer and Deputy Technical Manager, Fuzhou Erhua Company, Fujian Province, P.R. China, August 1990 – July 1992

Other Appointments

  • ​Editorial Board, Journal of Futures Markets, 2013 – present
  • Editorial Board, Emerging Markets Finance and Trade, 2008 – present
  • Editorial Advisory Board, American Business Review, 2003 – 2004
  • Adjunct Professor/Adjunct Associate Professor, Department of Economics, Texas A&M University, 2010 – present​
  • Visiting Professor, Nankai University, 2004 – present
  • Visiting Professor, Sun Yat-Sen University, 2005, 2008 – 2011
  • Visiting Professorial Fellow, Zhejiang University, 2012-2015
  • Visiting Professor, Xiamen University, 2008
  • Visiting Scholar, Department of Economics and Department of Finance, Texas A&M University, Summer and Fall 2006
  • Visiting Scholar, Federal Reserve Bank of St. Louis, May 2006
  • Research Fellow, Center for Hospitality and Real Estate Research, Chinese University of Hong Kong, 2012 – present
  • Fellow, Emerging Markets Group, Cass Business School, UK, 2008 – present
  • Research Fellow, Center for China Finance and Business Research, California State University at Northridge, 2002 – 2008

Honors and Activities

Grants, Awards,​ and Honors 

  • Listed in Marquis Who’s Who in America, 2014 (68th edition), 2011 (65th edition)
  • Best Paper Award, American Real Estate Society, 2013
  • Pacific-Basin Finance Journal Best Paper Award, Asian Finance Association, 2013
  • 15 Commodity-Friendly Professors (by CommodityHQ.com), 2013
  • Outstanding Referee Award, Applied Economics series, 2011
  • Invited Keynote Speaker, Workshop in in Macroeconomics and Financial Economics, Research Institute of Economics and Management (RIEM), Southwestern University of Finance and Economics (China), 20
  • Best Paper Award (1st Prize), Global Chinese Real Estate Congress, 2010
  • Ranked 744th (top 4 percentile among 17,601 finance academics) in the world based on the number of publications in 26 core finance journals over the past 50 years from 1959 to 2008 (“Most Prolific Authors in the Finance Literature: 1959 to 2008,” by Philip L. Cooley and Jean L. Heck at SSRN)
  • Outstanding Research Award, The Business School, University of Colorado Denver, 2009
  • CIBER Research Grant, University of Colorado Denver, 2010, 2008
  • Faculty Research & Scholarship Completion Grant, University of Colorado Denver, 2010, 2009, 2007
  • Summer Research Support, The Business School, University of Colorado Denver, 2008-2010
  • Faculty Award for Mentorship, College of Business, Prairie View A&M University, 
  • Listed in Marquis Who’s Who in Finance and Business, 2006 – 20
  • Ranked among top 250 financial researchers worldwide in the SIRCA Finance Academic Ranking System (based on the weighted number of articles published on the 16 core finance journals during the six-year period of 2000-2005, http://www.sirca.org.au/cgi-bin/finrank/finrank.pl)
  • Excellence in Research Award, College of Business, Prairie View A&M University, 2006, 2004, 2002
  • Summer Research Support, College of Business, Prairie View A&M University, 2003-2006
  • McGraw-Hill/Irwin Distinguished Paper Award, Academy of International Business (US Southwest), 2003
  • Best Paper in International Finance Award, Southwestern Finance Association, 2003
  • T.K. Ann Outstanding Paper Award in International Trade, Ministry of Foreign Trade and Economic Cooperation (MOFTEC), P. R. China, 20
  • Best Paper in International Finance Award, Southwestern Finance Association, 2002
  • Tom Slick Dissertation Research Fellowship, Texas A&M University, 1999
  • Master Thesis Excellence Award, Nankai University, P. R. China, 1995
  • T.K. Ann Academic Enhancement Award in International Trade, Ministry of Foreign Trade and Economic Cooperation (MOFTEC), P. R. China, 1
  • Exceptional Student Award, Nankai University, P. R. China, 1994
  • Outstanding Paper Award, Ministry of Foreign Trade and Economic Cooperation (MOFTEC), P. R. China, 1994

   

Consulting Experi​ence

Consultant in the areas of stock market dynamics and global asset allocation; provider of executive education seminars.   
 

Membersh​ip

  • ​Member, CFA Institute
  • Member, American Finance Association
  • Member, Financial Management Association
  • Member, Eastern Finance Association
  • Member, Southern Finance Association
  • Member, Western Economic Association
  • Member, Southwestern Finance Association
  • Member, Academy of International Business (Southwest)
  • Member, American Real Estate and Urban Economics Association
  • Member, American Real Estate Society
  • Member, CFA Society of Colorado
 

Professional Services

(over 160 times for 57 journals as of 10/13)
  • ​Referee, Journal of Econometrics
  • Referee, Journal of Banking and Finance
  • Referee, Journal of Empirical Finance
  • Referee, Journal of Internation
  • Referee, Financial Analyst Journal
  • Referee, Journal of Futures Markets
  • Referee, Journal of Business Finance & Accounting
  • Referee, Financial Review
  • Referee, Real Estate Economics
  • Referee, Journal of Real Estate Finance & Economics
  • Referee, European Economic Review
  • Referee, Journal of Economic Dynamics and Control
  • Referee, Economic Inquiry
  • Referee, European Journal of Operational Research
  • Referee, American Business Journal
  • Referee, American Journal of Agricultural Economics
  • Referee, Applied Economics
  • Referee, Applied Financial Economics
  • Referee, Asian Economic Journal
  • Referee, Asia-Pacific Financial Markets
  • Referee, Asia-Pacific Journal of Financial Studies
  • Referee, China & World Economy
  • Referee, China Economic Review
  • Referee, The Chinese Economy
  • Referee, Chinese Management Studies
  • Referee, Eastern Economic Journal
  • Referee, Economic Issues
  • Referee, Economic Modeling
  • Referee, Emerging Markets Finance and Trade
  • Referee, Empirical Economics
  • Referee, Energy Economics
  • Referee, European Financial Management
  • Referee, Global Finance Journal
  • Referee, International Journal of Business and Economics
  • Referee, International Journal of Business
  • Referee, International Review of Economics and Finance
  • Referee, International Review of Financial Analysis
  • Referee, Journal of Agricultural and Applied Economics
  • Referee, Journal of Agricultural and Resource Economics
  • Referee, Journal of Applied Economics
  • Referee, Journal of Business Research
  • Referee, Journal of Economics and Business
  • Referee, Journal of Emerging Markets Finance
  • Referee, Journal of Financial Stability
  • Referee, Journal of International Financial Markets, Money & Institutions
  • Referee, Journal of Multinational Financial Management
  • Referee, Journal of Macroeconomics
  • Referee, Journal of Real Estate Research
  • Referee, Managerial and Decision Economics
  • Referee, Mathematical and Computer Modeling
  • Referee, Oxford Bulletin of Economics and Statistics
  • Referee, Quarterly Review of Economics and Finance
  • Referee, Resources Policy
  • Referee, Review of Financial Economics
  • Referee, Studies in Nonlinear Dynamics & Econometrics
  • Referee, Tourism Management
  • Referee, The World Economy
  • Reviewer, Thomson/South-Western
  • Reviewer, Prentice Hall
  • External Reviewer, the Research Grants Council of Hong Kong (2012)
  • External Reviewer, PSC CUNY research grants (2008; 2006)
  • External Reviewer for Tenure and Promotion, University of New Hampshire, 2012
  • External Reviewer for Tenure and Promotion, University of Guelph (Canada), 2011
  • External Reviewer for Tenure and Promotion, Oakland University, 2011
  • External Reviewer for Tenure and Promotion, Bowling Green State University, 2009
  • External Reviewer for Promotion, Zhejiang University (China), 2012
  • External Reviewer for Reappointment, University of Colorado-Colorado Spring, 2012
  • External Reviewer, the NUS Annual Risk Management Conference (2012, 2013)
  • Program committee member, Asian Finance Association Annual Meetings (2013)
  • Program committee member, Financial Management Association Annual Meetings (2003 – 2007, 2009 –2010, 2012)
  • Program committee member, Eastern Finance Association Annual Meetings (2005 – 2006, 2008, 2010 2012)
  • Program committee member, Midwest Finance Association Annual Meetings (2007, 2009 – 2010)
  • Program committee member, Southwestern Finance Association Annual Meetings (2003 – 2005, 2008, 2011)
  • Best Paper Award committee member, Southwestern Finance Association Annual Meetings (2005, 2008)
  • Program committee member, National University of Singapore Annual Risk Management Conference, 2012, 2013
  • Program committee member, International Conference on Derivative Securities and Markets, 2012-2013
  • Session Chair, Asian Finance Association Annual Meetings (2013)
  • Session Chair, Financial Management Association Annual Meetings (2002 – 2003, 2007)
  • Session Chair, Southwestern Finance Association Annual Meetings (2002 – 2005)
  • Session Chair, Academy of International Business (US Southwest) (2003)
  • Discussant, Asian Finance Association Annual Meetings (2013)
  • Discussant, Financial Management Association Annual Meetings (2002 – 2003, 2008, 2011)
  • Discussant, Eastern Finance Association Annual Meetings (2009, 2012)
  • Discussant, Southwestern Finance Association Annual Meetings (2001 – 2005, 2012)


University Services

  • ​In Charge of the Student CFA Scholarship Program, University of Colorado Denver, Fall 2007 – Spring 2013
  • Member, Finance Scholarship Committee, University of Colorado Denver, Fall 2010 – present
  • Member, the College Internal Affairs Committee, University of Colorado Denver, Fall 2009 – present
  • Member, the College Recruiting Committee, University of Colorado Denver, Fall 2012 – present
  • Member, the College Faculty Appeals Committee, University of Colorado Denver, Fall 2013 – present
  • Member, the College JP Morgan Center for Commodities Advisory Council Curriculum and Research Committee, Spring 2013 – present
  • Chair, the College Faculty Comprehensive Review Subcommittee, Fall 2011, Fall 2012
  • Member, the JP Morgan Center for Commodities Activity Planning Committee, Spring 2012
  • Member, the University Research & Creative Activities Awards Selection Committee, University of Colorado Denver, Fall 2010- Spring 2012
  • Member, the College Center for Commodities Technology Committee, Fall 2011
  • Organizer, Front Range Finance Seminar, Fall 2011
  • Member, the College MBA Curriculum Review Committee, University of Colorado Denver, Spring 2010 – Spring 2011
  • Coordinator, Finance Research Seminar Series, University of Colorado Denver, Spring 2010 – Spring 2011
  • Member, the College Outstanding Research Award Selection Committee, University of Colorado Denver, 2011, 2012
  • Member, RMI Financial Database Selection Committee, University of Colorado Denver, Fall 2010
  • Co-Organizer, Front Range Finance Seminar, Spring 2010
  • Member, Accounting and Finance Research Seminar Committee, University of Colorado Denver, Fall 2008 - Spring 2009
  • Member, the College Strategic Planning Research Committee, University of Colorado Denver, Fall 2008, Fall 2009, Fall 2010
  • Member, Finance Faculty Search Committee, University of Colorado Denver, Fall 2008
  • Finance Program Coordinator, Prairie View A&M University, 2005 – 2007
  • Member, the COB Intellectual Contributions Committee, Prairie View A&M University, 2004 – 2007
  • Member, the University Research Committee, Prairie View A&M University, 2001 – 2004
  • Member, the COB Finance Faculty Search Committee, Prairie View A&M University, 2001 - 2004, 2006 – 2007
  • Member, the COB Dean’s Excellence Award Committee, Prairie View A&M University, 2003
  • Member, the COB Summer Research Grant Evaluation Committee, Prairie View A&M University, 2005 – 2007
  • Member, the COB Curriculum Committee, Prairie View A&M University, 2002
  • Advisor, FMA student chapter/Investment Club, Prairie View A&M University, 2002-2005
  • Member, the China Data Archive Economics Subcommittee, Texas A&M University, 2002 – 2003
  • Chair, the COB Intellectual Contributions Committee, Prairie View A&M University, 2001 - 2004

 

Doctoral Student Advising

  • ​Jaeun Shin, Ph.D. 2004, Department of Economics, Texas A&M University.  [Assistant Professor, Korean Development Institute (KDI) School of Public Policy and Management, Seoul, Korea]
  • Insik Min, Ph.D. 2003, Department of Economics, Texas A&M University. [Assistant Professor, Kyung Hee University, Seoul, Korea]

Publications

 

Citations & Impacts

As of October 2013, the standard count of (all-inclusive) cites was over 1,670 cites based on Google Scholar and over 380 SSCI/SCI cites.  Cites by other researchers include citations from such journals as Journal of Financial Economics, Review of Financial Studies, Journal of Monetary Economics, Journal of Banking and Finance, Journal of International Money and Finance, Journal of Empirical Finance,  Journal of Financial Markets, Journal of Futures Markets, Journal of Business Finance and Accounting, Financial Review, Real Estate Economics, Journal of Real Estate Finance and Economics, European Journal of Operational Research, Journal of Industrial Economics, Journal of Applied Econometrics, and several advanced graduate textbooks (including one coauthored by a Nobel Laureate) and encyclopedia.  A few of these citations also come from the world’s leading scientific/medical journals such as The Lancet (which has the ISI impact factor of 28.6 in 2007, the same as that of Nature and higher than that of Science).

My works have also been cited in policy publications/reports by World Bank, World Trade Organization, Organization for Economic Co-operation and Development, the Deutsche Bundesbank, US Commodity Futures Trading Commission, US International Trade Commission, the US-China Economic and Security Review Commission, Federal Reserve Bank of St. Louis, Norges Bank (Norway's central bank), and Hong Kong Monetary Authority, among others.

One of my research papers has been reprinted in a four-volume major finance work reference book, and my research has been featured in newspapers The Washington Post, Charlotte Observer, Times Union (Albany NY), The Morning News (Arkansas), Daily Herald (Utah), Arizona Daily Sun, the websites of CBS News and Travel Weekly,  and a leading industry publication The CFA Digest.

I was also invited to present my papers at European Central Bank, FDIC, Central Bank of China, and many universities in the US and overseas (e.g., Texas A&M University, Australian National University, University of Waterloo, Peking University, etc.)

 

Refereed Journal Articles

  • Yang, Jian, and Yinggang Zhou. “Credit Risk Spillovers among Financial Institutions around the Global Credit Crisis: Firm-Level Evidence,” Management Science, Vol. 59, No. 10, October 2013, pp. 2343-2359. (semifinalist for the 2012 FMA Best Paper Award in Investment)
  • Guo, Hui, Zijun Wang, and Jian Yang. “Time-Varying Risk-Return Tradeoff in the Stock Market,” Journal of Money, Credit and Banking, Vol. 45, No. 4, June 2013, pp. 623-650.
  • Jingping Gu, Qi Li, and Jian Yang. “Fiscal Deficits and Mean Reversion in Real Exchange Rates,” Economics Letters, Vol. 118, No. 2, February 2013, pp. 300-303.
  • Xu, Pisun, Yufeng Han, and Jian Yang. “U.S. Monetary Policy Surprises and Mortgage Rates,” Real Estate Economics, Vol. 40, No. 3, Fall 2012, pp. 461-507.
  • Chui, Chin-Man, and Jian Yang. “Extreme Correlation of Stock and Bond Futures Markets: International Evidence,” Financial Review, Vol. 47, No.3, August 2012, pp.565-587.
  • Yang, Jian, Yinggang Zhou, and Wai Kin Leung. “Asymmetric Correlation and Volatility Dynamics among Stock, Bond and Securitized Real Estate Markets,” Journal of Real Estate Finance and Economics, Vol. 45, No. 2, August 2012, pp.491-521. (An earlier version was awarded GCREC Best Paper Award; SSRN Top 10 Recent Hits for three categories: Urban Markets; Urban Economics & Regional Studies; Business Fluctuations & Cycles, August 2010)
  • Yang, Jian, Zihui Yang, and Yinggang Zhou. “Intraday Price Discovery and Volatility Transmission in Stock Index and Stock Index Futures Markets: Evidence from China,” Journal of Futures Markets, Vol. 32, No. 2, February 2012, pp.99-121. (SSRN Top 10 Recent Hits for four categories: Emerging Markets: Finance; Managing in Emerging Markets; International Environment of Global Business; International Business & Management Network, January 2011) (lead article)
  • Cabrera, Juan F., Tao Wang, and Jian Yang. “Linear and Nonlinear Predictability of International Securitized Real Estate Returns: A Reality Check,” Journal of Real Estate Research, Vol.33, No. 4, December 2011, pp. 565-594.
  • Xu, Pisun, and Jian Yang. “U.S. Monetary Policy Surprises and International Securitized Real Estate Markets,” Journal of Real Estate Finance and Economics, Vol. 43, No. 4, November 2011, pp. 459-490.
  • Yang, Jian, Yinggang Zhou, and Zijun Wang. “Conditional Co-skewness in Stock and Bond Markets: Time Series Evidence,” Management Science, Vol. 56, No. 11, November 2010, pp. 2031-2049. (featured in Science Letter, December 21, 2010).
  • Wang, Tao, and Jian Yang. “Nonlinearity and Intraday Efficiency Tests on Energy Futures Markets,” Energy Economics, Vol. 32, No. 2, March 2010, pp. 496-503.
  • Yang, Jian, Juan F. Cabrera, and Tao Wang. “Nonlinearity, Data-Snooping, and Stock Index ETF Return Predictability,” European Journal of Operational Research, Vol. 200, No. 2, January 2010, pp.498-507.
  • Su, Xiaojing, Tao Wang, and Jian Yang. “Out-of-Sample Predictability in International Equity Markets: A Model Selection Approach,” Financial Review, Vol. 44, No. 4, November 2009, pp.559 -582.
  • Yang, Jian, Yinggang Zhou, and Zijun Wang. “The Stock-Bond Correlation and Macroeconomic Conditions: One and A Half Centuries of Evidence” Journal of Banking and Finance, Vol. 33, No. 4, April 2009, pp.670 - 680.
  • Guo, Hui, Robert Savickas, Zijun Wang, and Jian Yang. “Is Value Premium a Proxy for Time-Varying Investment Opportunities: Some Time Series Evidence,” Journal of Financial and Quantitative Analysis, Vol. 44, No. 1, February 2009, pp.133 - 154. (Top 10 most read JFQA articles in 2009)
  • Cabrera, Juan F., Tao Wang, and Jian Yang. “Do Futures Lead Price Discovery in Electronic Foreign Exchange Markets?” Journal of Futures Markets, Vol. 29, No. 2, February 2009, pp.137 - 156.
  • Jansen, Dennis W., Qi Li, Zijun Wang, and Jian Yang. “Fiscal Policy and Asset Markets: A Semiparametric Analysis,” Journal of Econometrics, Vol. 147, No. 1, November 2008, pp.141 - 150.
  • Wang, Tao, Jian Yang, and Marc W. Simpson. “US Monetary Policy Surprises and Currency Futures Markets: A New Look,” Financial Review, Vol. 43, No. 4, November 2008, pp.509 -541. (All Time (1997-2009) SSRN Top 10 Most Downloaded paper for Federal Reserve Monetary Policy)
  • Wang, Tao, Jingtao Wu, and Jian Yang. “Realized Volatility and Correlation in Energy Futures Markets,” Journal of Futures Markets, Vol. 28, No. 10, October 2008, pp.993 - 1011. (All Time (1997-2008) SSRN No. 1 Most Downloaded paper for Agriculture & Natural Resource Economics)
  • Yang, Jian, Xiaojing Su, and James W. Kolari. “Do Euro Exchange Rates Follow a Martingale? Some Out-of-Sample Evidence,” Journal of Banking and Finance, Vol. 32, No. 5, May 2008, pp.729 - 740.
  • Yang, Jian, and David A. Bessler. “Contagion around October 1987 International Stock Market Crash,” European Journal of Operational Research, Vol. 184, No. 1, January 2008, pp.291-310. (featured in The Washington Post, December 17, 2007; Charlotte Observer, December 18, 2007; Times Union (Albany NY), December 31, 2007; Daily Herald (Utah), December 17, 2007; The Morning News (Arkansas), January 15, 2008; Arizona Daily Sun, December 18, 2007; Top 3 Hottest EJOR articles and Top 13 Hottest articles in the category of Mathematics (covering more than 90 journals) during Oct. - Dec. 2007 at ScienceDirect)
  • Wang, Zijun, Jian Yang, and Qi Li. “Interest Rate Linkages in the Eurocurrency Market: Contemporaneous and Out-of-Sample Granger Causality Tests,” Journal of International Money and Finance, Vol. 26, No. 1, February 2007, pp.86-103. (Top 20  Hottest JIMF articles in 2007)
  • Yang, Jian, Jaeun Shin, and Moosa Khan. “Causal Linkages between US and Eurodollar Interest Rates: Further Evidence,” Applied Economics, Vol. 39, No. 2, February 2007, pp.135-144. (lead article)
  • Yang, Jian, Hui Guo, and Zijun Wang.  “International Transmission of Inflation among G7 Countries: A Data-Determined VAR Analysis,” Journal of Banking and Finance, Vol. 30, No. 10, October 2006, pp.2681-2700.
  • Wang, Tao, Jian Yang, and Jingtao Wu. “Central Bank Communications and Equity ETFs,” Journal of Futures Markets, Vol. 26, No. 10, October 2006, pp.959-995.
  • Yang, Jian, Cheng Hsiao, Qi Li, and Zijun Wang. “The Emerging Market Crisis and Stock Market Linkages: Further Evidence,” Journal of Applied Econometrics, Vol. 21, No. 6, September/October 2006, pp.727-744.
  • Yang, Jian. “Information Transmission between Eurocurrency and Domestic Interest Rates: Evidence from the UK,” Applied Financial Economics, Vol. 16, No. 9, June 2006, pp.675-685.
  • Li, Qi, Jian Yang, Cheng Hsiao, Young-Jae Chang. “The Relationship between Expected Returns and Volatility in International Stock Markets,” Journal of Empirical Finance, Vol. 12, No. 5, December 2005, pp.650-665. (Top 5  Hottest JEF articles in 2005 and 2006; Top 20  Hottest JEF articles in 2007)
  • Yang, Jian, James W. Kolari, and Guozhong Zhu. “European Public Real Estate Market Integration,” Applied Financial Economics, Vol. 15, No. 13, September 2005, pp.895-905. (lead article)
  • Wang, Zijun, Ali M. Kutan and Jian Yang. “Information Flows within and across Sectors in Chinese Stock Markets,” Quarterly Review of Economics and Finance, Vol. 45, No. 4&5, September 2005, pp.767-780.
  • Yang, Jian. “Government Bond Market Linkages: Evidence from Europe,” Applied Financial Economics, Vol. 15, No. 9, June 2005, pp.599-610.
  • Yang, Jian, R. Brian Balyeat, and David J. Leatham. “Futures Trading Activity and Commodity Cash Price Volatility,” Journal of Business Finance and Accounting, Vol. 32, No. 1&2, January/March 2005, pp.297-323.
  • Yang, Jian. “International Bond Market Linkages: A Structural VAR Analysis,” Journal of International Financial Markets, Money and Institutions, Vol. 15, No. 1, January 2005, pp. 39-54. (Top 10  Hottest JIFMMI articles in 2004 and 2005)
  • Yang, Jian and David A. Bessler. “The International Price Transmission in Stock Index Futures Markets,” Economic Inquiry, Vol. 42, No. 3, July 2004, pp. 370-386. (An earlier version was awarded SWFA Best Paper in International Finance Award)
  • Yang, Jian, James W. Kolari, and Peter W. Sutanto. “On the Stability of Long-Run Relationships between Emerging and US Stock Markets,” Journal of Multinational Financial Management, Vol. 14, No. 3, July 2004, pp. 233-248.
  • Yang, Jian, David A. Bessler, and Hung-Gay Fung. “The Informational Content of Open Interest in Futures Markets,” Applied Economics Letters, Vol. 11, No. 9, July 2004, pp. 569-573.
  • Yang, Jian. “Government Policy and Price Comovements in Commodity Futures Markets,” American Business Review, Vol. 22, No. 1, January 2004, pp. 1-10. (lead article)
  • Yang, Jian, Moosa Khan, and Lucille Pointer. “Increasing Integration between US and Other International Stock Markets?,” Emerging Markets Finance and Trade, Vol. 39, No. 6, November-December 2003, pp. 39-53.
  • Yang, Jian, Insik Min, and Qi Li.  “European Stock Market Integration: Does EMU Matter?,” Journal of Business Finance and Accounting, Vol. 30, No. 9&10, November/December 2003, pp.1253-1276. (An earlier version was awarded AIB-SW McGraw-Hill/Irwin Distinguished Paper Award)
  • Yang, Jian. “Market Segmentation and Information Asymmetry in Chinese Stock Markets: A VAR Analysis,” Financial Review, Vol. 38, No. 4, November 2003, pp.591-609.
  • Wang, Zijun, Jian Yang, and David A. Bessler. “Financial Crisis and African Stock Market Integration,” Applied Economics Letters, Vol. 10, No. 9, July 2003, pp.527-533. (lead article)
  • Yang, Jian, James W. Kolari, and Insik Min. “Stock Market Integration and Financial Crises: The Case of Asia,” Applied Financial Economics, Vol. 13, No. 7, July 2003, pp.477-486. (An earlier version was awarded SWFA Best Paper in International Finance Award; All time  No. 9 most cited AFE articles published during 1991-2012) (lead article)
  • Yang, Jian, and Titus O. Awokuse. “Asset Storability and Hedging Effectiveness of Commodity Futures Markets,” Applied Economics Letters, Vol. 10, No. 8, June 2003, pp.487-491.
  • Awokuse, Titus O., and Jian Yang.  “The Informational Role of Commodity Prices in Formulating Monetary Policy: A Reexamination,” Economics Letters, Vol. 79, No. 2, May 2003, pp. 219-224.
  • Yang, Jian, Jin Zhang, and David J. Leatham. “Price and Volatility Transmission in International Wheat Futures Markets,” Annals of Economics and Finance, Vol. 4, No. 1, May 2003, pp.37-50.
  • Bessler, David A., and Jian Yang. “The Structure of Interdependence in International Stock Markets,” Journal of International Money and Finance, Vol. 22, No. 2, April 2003, pp.261-287. (Abridged in The CFA Digest, November 2003, Vol. 33, No. 4, pp. 61-62; Top 5 most requested JIMF articles in 2003; Reprinted in Volume 2, Financial Markets, edited by Jeff Madura, SAGE Publications Ltd. (UK.), 2004; SSCI No. 2 most cited JIMF articles published during 2003-2008)
  • Bessler, David A., Jian Yang, and Metha Wongcharupan. “Price Dynamics in the International Wheat Market: Modeling with Error Correction and Directed Graphs,” Journal of Regional Science, Vol. 43, No. 1, February 2003, pp.1-33. (lead article)
  • Yang, Jian, Michael S. Haigh, and David J. Leatham. “Agricultural Liberalization Policy and Commodity Price Volatility: A GARCH Application,” Applied Economics Letters, Vol. 8, No. 9, September 2001, pp. 593-598.
  • Yang, Jian, and David J. Leatham. “Currency Convertibility and Linkage between Chinese Official and Swap Market Exchange Rates,” Contemporary Economic Policy, Vol. 19, No. 3, July 2001, pp. 347-359. (T.K. Ann Outstanding Paper Award in International Trade)
  • Yang, Jian, David A. Bessler, and David J. Leatham. “Asset Storability and Price Discovery of Commodity Futures Markets: A New Look,” Journal of Futures Markets, Vol. 21, No. 3, March 2001, pp. 279-300. (SSCI No. 1 most cited JFM articles published during 2001-2008)
  • Yang, Jian, George C. Davis, and David J. Leatham. “Impact of Interest Rate Swaps on Corporate Capital Structure: An Empirical Investigation,” Applied Financial Economics, Vol. 11, No. 1, February 2001, pp. 75-81.
  • Yang, Jian, David A. Bessler, and David J. Leatham. “The Law of One Price: Developed and Developing Country Market Integration,” Journal of Agricultural and Applied Economics, Vol. 32, No. 3, December 2000, pp. 429-440. (lead article)
  • Yang, Jian, David J. Leatham, and Spencer A. Case. “The Wealth Effect of Swap Usage in the Food Processing Industry,” Agribusiness: An International Journal, Vol. 16, No. 3, Summer 2000, pp. 367-379.
  • Yang, Jian, and David J. Leatham. “Price Discovery in Wheat Futures Markets,” Journal of Agricultural and Applied Economics, Vol. 31, No. 2, August 1999, pp. 359-370.
  • Yang, Jian, and David J. Leatham. “Testing Market Efficiency on US Grain Markets:  Cointegration Analysis,” Agribusiness: An International Journal, Vol. 14, No. 2, March-April 1998, pp.107-112.
  • Yang, Jian, and David J. Leatham.  “Impact of the 1996 FAIR Act on Major Agricultural Input Suppliers,” Agricultural Finance Review, Vol. 57, 1997, pp. 53-66.

 

Peer Reviewed Journal Publications in Chinese

  • ​Yang, Jian. “The Basic Theoretical Framework of Strategic Import Policy,” Journal of International Economics and Trade Studies (renamed Nankai Management Review), No.4, 1995, pp.30-33.
  • Yang, Jian, and Dong-qing Guo. “Trends for Trade Regionalization and China’s Countermeasures,” Journal of International Economics and Trade Studies (renamed Nankai Management Review), No.3, 1994, pp.22-24.
  • Yang, Jian. “Korean Antidumping Law,” International Economic Cooperation Journal (sponsored by MOFTEC, P. R. China), No.3, 1994, pp.53-56.
  • Yang, Jian. “Canadian Antidumping Law,” International Economic Cooperation Journal (sponsored by MOFTEC, P. R. China), No.2, 1994, pp.42-45.
  • Yang, Jian. “A Preliminary Analysis of Uruguay Round Agreements and Its Consequences,” Journal of International Economics and Trade Studies (renamed Nankai Management Review), No.1, 1994, pp.30-32.
  • Tong, Jia-dong, Jian Yang and Yu-hong Xin. “Comparisons among Regional Economic Integration Models,” Papers on the World Economy (sponsored by Fudan University), No.1, 1994, pp.46-49.
  • Yang, Jian, “A Proposed Framework for China’s Antidumping Law,” International Economic Cooperation Journal (sponsored by MOFTEC, P. R. China), No.11, 1993, pp.40-44. (An abridged version of the paper was published on International Business Daily (November 6, 1993) and awarded Ministry of Foreign Trade and Economic Cooperation (P.R. China) Outstanding Paper Award) 
  • Yang, Jian, and Clyde D. Stoltenberg. “Characteristics of the US Antidumping against China in 1990s (Part II),” International Economic Cooperation Journal (sponsored by MOFTEC, P. R. China), No.10, 1993, pp.54-56.
  • Yang, Jian, and Clyde D. Stoltenberg. “Characteristics of the US Antidumping against China in 1990s (Part I),” International Economic Cooperation Journal (sponsored by MOFTEC, P. R. China), No. 9, 1993, pp.53-56.
  • Yang, Jian. “Australian Antidumping Law,” International Economic Cooperation Journal (sponsored by MOFTEC, P. R. China),   No.8, 1993, pp.52-53.
  • Yang, Jian, and Xiumin Cui. “The Antidumping Trends in Australian Foreign Trade and Possible Countermeasures Adopted by China,” Nankai Economic Studies, No.6, 1993, pp.71-77. (An expanded version of the paper was published on Australian Studies, No. 2, 1993, pp.15-21).
  • Yang, Jian. “Mexican Antidumping and the Countermeasures,” Journal of International Economics and Trade Studies (renamed Nankai Management Review), No. 4, 1993, pp.42-44.
  • Yang, Jian. “Japanese Antidumping Measures and Trends,” Modern Japan, No. 4, 1993, pp.8-11.
  • Yang, Jian. “Characteristics of the European Community Antidumping against China,” Practices of Foreign Trade, No. 3, 1993, pp.29-31.

 

Published Books and Chapters (in Chinese)

  • ​Yang, Jian. Antidumping Laws, Cases and Countermeasures (ISBN 7-310-00921-5), Nankai University Press, P. R. China, 1996.
  • Yang, Jian. “Chapter 6: Basic Strategies on Financial Futures Trading”, In (Hongwei Chao ed.) Financial Futures and Option---Theory & Practice   (ISBN 7-80070-320-7), Chinese Price Press, P. R. China, 1994.
  • Yang, Jian. “Chapter 11: Gold Futures”, In (Hongwei Chao ed.) Financial Futures and Option---Theory & Practice (ISBN 7-80070-320-7), Chinese Price Press, P. R. China, 1994.
 

Peer Reviewed Proceedings

  • ​Yang, Jian, Jaeun Shin, and Moosa Khan. “Causal Linkages between Eurodollar and US Interest Rates: Further Evidence,” Proceedings of Southwestern Finance Association, 2005.
  • Yang, Jian, James W. Kolari, and Peter Sutanto. “On the Stability of Long-Run Relationships between Emerging and US Stock Markets,” Southwest Review of International Business Research, Vol. 14, 2003, pp. 17-26.
 

Peer Reviewed Conference Presentations

  • ​Hao, Xiangchao, Jing Shi, and Jian Yang. “The Differential Impact of the Banking-Firm Relationship on IPO Underpricing: Evidence from China,” presented at the Asian Finance Association annual meeting, Nanchang, China, July 2013.
  • Hao, Xiangchao, Jing Shi, and Jian Yang. “The Differential Impact of the Banking-Firm Relationship on IPO Underpricing: Evidence from China,” presented at the China International Conference in Finance, Shanghai, China, July 2013.
  • Webb, Robert I., Jian Yang, and Jin Zhang. “Price Jump Risk on the US Housing Market,” presented at the American Real Estate Society annual meeting, Big Island, Hawaii, April 2013. (ARES Best Paper Award)
  • Yang, Jian, and Yinggang Zhou. “Credit Risk Spillovers among Financial Institutions around the Global Credit Crisis: Firm-Level Evidence,” presented at the Financial Management Association International annual meeting, Atlanta, Georgia, October 2012. (Included in a top 10% session of all submitted papers)
  • Yang, Jian, and Yinggang Zhou. “Credit Risk Spillovers among Financial Institutions around the Global Credit Crisis: Firm-Level Evidence,” presented at the Eastern Finance Association annual meeting, Boston, Massachusetts, April 2012.
  • Yang, Jian, and Yinggang Zhou. “Credit Risk Spillovers among Financial Institutions around the Global Credit Crisis: Firm-Level Evidence,” presented at the FDIC-Cornell-University of Houston 22nd Derivative Securities and Risk Management Conference, Arlington, Virginia, March 2012.
  • Yang, Jian, and Yinggang Zhou. “Credit Risk Spillovers among Financial Institutions around the Global Credit Crisis: Firm-Level Evidence,” presented at Southwestern Finance Association annual meeting, New Orleans, Louisiana, March 2012.
  • Guo, Hui, Zijun Wang, and Jian Yang. “Time-Varying Risk-Return Tradeoff in the Stock Market,” presented at Southwestern Finance Association annual meeting, New Orleans, Louisiana, March 2012.
  • Chui, Chin-Man, and Jian Yang. “Extreme Correlation of Stock and Bond Futures Markets: International Evidence,” presented at Southwestern Finance Association annual meeting, New Orleans, Louisiana, March 2012.
  • Yang, Jian, and Yinggang Zhou. “Credit Risk Spillovers among Financial Institutions around the Global Credit Crisis: Firm-Level Evidence,” presented at Northern Finance Association annual meeting, Vancouver, Canada, September 2011.
  • Yang, Jian, and Yinggang Zhou. “Credit Risk Spillovers among Financial Institutions around the Global Credit Crisis: Firm-Level Evidence,” presented at the UNSW Systemic Risk, Basel III, Financial Stability and Regulation Conference, Sydney, June 2011.
  • Xu, Pisun, Yufeng Han, and Jian Yang. “Monetary Policy Surprises and Mortgage Rate Pass Through,” presented at the ASSA/AREUEA Annual Conference, Denver, Colorado, January 2011.
  • Yang, Jian, and Yinggang Zhou. “Asymmetric Correlation and Volatility Dynamics among Stock, Bond and Securitized Real Estate Markets,” presented at the Financial Management Association International annual meeting, New York City, New York, October 2010.
  • Xu, Pisun, Yufeng Han, and Jian Yang. “Monetary Policy Surprises and Mortgage Rates,” presented at the Financial Management Association International annual meeting, New York City, New York, October 2010.
  • Yang, Jian, and Yinggang Zhou. “Finding Systemically Important Financial Institutions around the Global Credit Crisis: Evidence from Credit Default Swaps.” presented at the ECB-CFS-CEPR conference on Macro-prudential Regulation as an Approach to Contain Systemic Risk, Frankfurt, Germany, September 2010.
  • Chui, Chin-Man, and Jian Yang. “Extreme Correlation of Stock and Bond Futures Markets: International Evidence,” presented at the CEQURA Conference on Advances in Financial and Insurance Risk Management, Munich, Germany, September 2010.
  • Yang, Jian, and Yinggang Zhou. “Finding Systemically Important Financial Institutions around the Global Credit Crisis: Evidence from Credit Default Swaps.” presented at the National University of Singapore 4th annual Risk Management conference, Singapore, July 2010.
  • Yang, Jian, Yinggang Zhou, and Wai Kin Leung. “Asymmetric Correlation and Volatility Dynamics among Stock, Bond and Securitized Real Estate Markets,” presented at the Asian Real Estate Society International Conference, Kaohsiung, Taiwan, July 2010.
  • Yang, Jian, Yinggang Zhou, and Wai Kin Leung. “Asymmetric Correlation and Volatility Dynamics among Stock, Bond and Securitized Real Estate Markets,” presented at the Global Chinese Real Estate Congress annual meeting, Taipei, Taiwan, July 2010. (GCREC Best Paper Award)
  • Yang, Jian, and Yinggang Zhou. “Asymmetric Correlation and Volatility Dynamics among Stock, Bond and Securitized Real Estate Markets,” presented at the China International Conference in Finance, Beijing, China, July 2010.
  • Xu, Pisun, Yufeng Han, and Jian Yang. “Monetary Policy Surprises and Mortgage Rates,” presented at the American Real Estate Society annual meeting, Naples, Florida, April 2010.
  • Yang, Jian, and Yinggang Zhou. “Asymmetric Correlation and Volatility Dynamics among Stock, Bond and Securitized Real Estate Markets,” presented at the Midwest Finance Association annual meeting, Las Vegas, Nevada, February 2010.
  • Jingping Gu, Qi Li, and Jian Yang. “Fiscal Deficits and Mean Reversion of Real Exchange Rates,” presented at the Midwest Finance Association annual meeting, Las Vegas, Nevada, February 2010.
  • Yang, Jian, and Yinggang Zhou. “Conditional Co-skewness in Stock and Bond Markets: Time Series Evidence,” presented at the Eastern Finance Association annual meeting, Washington DC, April 2009.
  • Su, Xiaojing, Tao Wang, and Jian Yang. “The Out-of-Sample Predictability in International Equity Markets: A Model Selection Approach,” presented at the Eastern Finance Association annual meeting, Washington DC, April 2009.
  • Yang, Jian, and Yinggang Zhou. “Conditional Co-skewness in Stock and Bond Markets: Time Series Evidence,” presented at the Financial Management Association International annual meeting, Dallas, Texas, October 2008.
  • Jingping Gu, Qi Li, and Jian Yang. “Fiscal Deficits and Exchange Rates,” presented at the Financial Management Association International annual meeting, Dallas, Texas, October 2008.
  • Yang, Jian, and Yinggang Zhou. “Conditional Co-skewness in Stock and Bond Markets: Time Series Evidence,” presented at the China International Conference in Finance, Dalian, China, July 2008.
  • Guo, Hui, Zijun Wang, and Jian Yang. “Does Risk Aversion Change over Business Cycles?” presented at the Midwest Finance Association annual meeting, San Antonio, Texas, February 2008.
  • Cabrera, Juan F., Tao Wang, and Jian Yang. “Do Futures Lead Price Discovery in Electronic Foreign Exchange Markets?” presented at the Midwest Finance Association annual meeting, San Antonio, Texas, February 2008.
  • Guo, Hui, Zijun Wang, and Jian Yang. “Does Aggregate Relative Risk Aversion Change Countercyclically over Time? Evidence from the Stock Market,” presented at the Financial Management Association International annual meeting, Orlando, Florida, October 2007.
  • Simpson, Marc W., Tao Wang, and Jian Yang. “The Nonlinear Response of Currency Markets to the US Monetary Policy News,” presented at the Financial Management Association International annual meeting, Salt Lake City, Utah, October 2006.
  • Guo, Hui, Robert Savickas, Zijun Wang, and Jian Yang. “Is Value Premium a Proxy for Time-Varying Investment Opportunities: Some Time Series Evidence,” presented at the Financial Management Association International annual meeting, Salt Lake City, Utah, October 2006. (Included in a top 10% session of all submitted papers)
  • Simpson, Marc W., Tao Wang, and Jian Yang. “US Monetary Policy Surprises and Currency Futures Markets: A New Look,” presented at the Western Economic Association International annual meeting, San Diego, California, June 2006.
  • Jansen, Dennis W., Qi Li, Zijun Wang, and Jian Yang. “Is There a Role for Fiscal Policy on the Stock Market?,” presented at the International Conference on Time Series Econometrics, Finance and Risk, Perth, Australia, June 2006.
  • Guo, Hui, Robert Savickas, Zijun Wang, and Jian Yang. “Is Value Premium a Proxy for Time-Varying Investment Opportunities: Some Time Series Evidence,” presented at the Financial Management Association European Conference, Stockholm, Sweden, June 2006.
  • Simpson, Marc W., Tao Wang, and Jian Yang. “The Nonlinear Response of Currency Markets to the US Monetary Policy News,” presented at the Eastern Finance Association annual meeting, Philadelphia, Pennsylvania, April 2006.
  • Wang, Tao, Jingtao Wu, and Jian Yang. “Central Bank Talks and the Equity Market,” presented at the Financial Management Association International annual meeting, Chicago, Illinois, October 2005.
  •  Yang, Jian, Hui Guo, and Zijun Wang.  “International Transmission of Inflation among G7 Countries,” presented at the Financial Management Association International annual meeting, Chicago, Illinois, October 2005.
  • Yang, Jian. “Information Transmission between Domestic and Offshore Interest Rates: Evidence from the UK,” presented at the Financial Management Association International annual meeting, Chicago, Illinois, October 2005.
  • Yang, Jian, Jaeun Shin, and Moosa Khan. “Causal Linkages between Eurodollar and US Interest Rates: Further Evidence,” presented at the Southwestern Finance Association annual meeting, Dallas, Texas, March 2005.
  • Wang, Zijun, Jian Yang, and Qi Li. “Interest Rate Linkages in the Eurocurrency Market: Contemporaneous and Out-of-Sample Granger Causality Tests,” presented at the Financial Management Association International annual meeting, New Orleans, Louisiana, October 2004.
  • Yang, Jian, James W. Kolari, and Guozhong Zhu. "Real Estate Market Integration in Europe: Evidence from the Stock Indexes," presented at the China International Conference in Finance, Shanghai, China, July 2004.
  • Yang, Jian, and David A. Bessler. "Contagion around October 1987 International Stock Market Crash," presented at the Southwestern Finance Association annual meeting, Orlando, Florida, March 2004.
  • Yang, Jian, Cheng Hsiao, and Qi Li. “The Relationship between Expected Returns and Volatility in International Stock Markets,” presented at the Financial Management Association International annual meeting, Denver, Colorado, October 2003.
  • Yang, Jian, James W. Kolari, and Insik Min. "Stock Market Integration and Financial Crises: The Case of Asia,” presented at the Southwestern Finance Association annual meeting, Houston, Texas, March 2003. (SWFA Best Paper in International Finance Award)
  • Yang, Jian, Cheng Hsiao, and Qi Li. “The Relationship between Expected Returns and Volatility in International Stock Markets,” presented at the Southwestern Finance Association annual meeting, Houston, Texas, March 2003.
  • Yang, Jian. “Market Segmentation and Information Asymmetry in Emerging Stock Markets: The Case of China,” presented at the Southwestern Finance Association annual meeting, Houston, Texas, March 2003.
  • Yang, Jian, Moosa Khan, and Lucille Pointer. “Increasing Integration between US and Other Developed Stock Markets? A Recursive Cointegration Analysis,” presented at the Southwestern Finance Association annual meeting, Houston, Texas, March 2003.
  • Yang, Jian, Insik Min, and Qi Li.  "European Stock Market Integration: Does EMU Matter?," presented at the Academy of International Business (Southwest) annual meeting, Houston, Texas, March 2003. (AIB-SW McGraw-Hill/Irwin Distinguished Paper Award)
  • Yang, Jian, James W. Kolari, and Peter Sutanto. “On the Stability of Long-Run Relationships between Emerging and US Stock Markets,” presented at the Academy of International Business  (Southwest) annual meeting, Houston, Texas, March 2003.
  • Awokuse, Titus O., and Jian Yang.  "The Informational Role of Commodity Prices in Formulating Monetary Policy: A Reexamination," presented at the Southwestern Society of Economists annual meeting, Houston, Texas, March 2003.
  • Yang, Jian, and Titus O. Awokuse. "Asset Storability and Hedging Effectiveness of Commodity Futures Markets," presented at the Southwestern Society of Economists annual meeting, Houston, Texas, March 2003.
  • Yang, Jian. “Market Segmentation and Information Asymmetry in Chinese Stock Markets,” presented at the Financial Management Association International annual meeting, San Antonio, Texas, October 2002.
  • Yang, Jian, and David A. Bessler. “The International Price Transmission in Stock Index Futures Markets," presented at the Financial Management Association International annual meeting, San Antonio, Texas, October 2002.
  • Yang, Jian, R. Brian Balyeat, and David J. Leatham. “Futures Trading Activity and Commodity Spot Price Volatility," presented at the Financial Management Association International annual meeting, San Antonio, Texas, October 2002.
  • Yang, Jian, Jin Zhang, and David J. Leatham. “Price and Volatility Transmission in International Wheat Futures Markets,” presented at the Financial Management Association International annual meeting, San Antonio, Texas, October 2002.
  • Yang, Jian, and David A. Bessler. “The International Price Transmission in Stock Index Futures Markets," presented at the Southwestern Finance Association annual meeting, St. Louis, Missouri, March 2002. (SWFA Best Paper in International Finance Award)
  • Yang, Jian, R. Brian Balyeat, and David J. Leatham. “Futures Trading Activity and Commodity Spot Price Volatility," presented at the Southwestern Finance Association annual meeting, New Orleans, Louisiana, March 2001.
  • Yang, Jian. “Asset Storability and Price Discovery of Commodity Futures Markets: Another Look,” presented at the 4th New England Finance Doctoral Student Symposium, Amherst, Massachusetts, August 1999.
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