• Zhiyong LI

    BEng Mech., BSc Maths., MSc OR, PhD Fin.

    A Short Bio

    State-of-the-Art Scoring aesthetics

    Dr. Zhiyong Li is Professor of Finance at the Southwestern University of Finance and Economics and serves as director of the Department of Credit Management at the School of Finance. He received a doctorate in finance at the University of Edinburgh Business School where his PhD thesis of financial distress prediction passed with no correction. He has been working with scholars at the Credit Research Centre led by Dr. Galina Andreeva and Prof. Jonathan Crook, a Fellow of the Academy of Social Sciences. He has a background of Mechanics and Mathematics at Beihang University. Dr. Li's interests are focused on the measurement and management of credit risk including credit scoring, credit rating, and risk modelling under Basel II and III. Many of his papers were published in banking/finance, management science/operational research and machine learning/artificial intelligence journals. Though he mainly analyses big data for financial risk management, fundamentally he is an engineer and artist.

  • Credit Scoring & Credit Rating Conference

    CSCR II will be held on 14-16 Oct 2022 in Ningbo China

  • Curriculum Vitae

    Nunquam praescriptos transibunt sidera fines

    读万卷书·行万里路·做一件事

    CONTACT INFORMATION

    • Webpage: www.credit.li
    • Email: liz@swufe.edu.cn; li@credit.li
    • Office: Room 521, Gezhi Building, 555 Liutai Avenue, Wenjiang, Chengdu 611130, Sichuan, China

    AFFILIATIONS & POSITIONS

    • Chief Secretary, China Society of Credit Research, 2020-Present
    • Professor of Finance, Southwestern University of Finance and Economics (SWUFE), China, 2019-Present
    • Director, Department of Credit Management, School of Finance, SWUFE, China, 2018-Present
    • Director, The Fintech and Regtech Lab, Institution of Chinese Financial Studies, SWUFE, 2016-Present
    • Deputy Director, Centre for Inclusive and Intelligent Finance, SWUFE, 2019-Present
    • Associate Professor of Finance, School of Finance, SWUFE, China, 2015-2018
    • Deputy Director, Department of Credit Management, School of Finance, SWUFE, 2014-2017
    • Research Fellow, Business School, University of Edinburgh, United Kingdom, 2014-2017
    • Lecturer, School of Finance, SWUFE, China, 2014-2015

    EDUCATION & VISITING

    • Ph.D in Credit Risk Management, Credit Research Centre, Business School, University of Edinburgh, UK, 2009-2014
    • M.Sc in Operational Research with Risk, School of Mathematics, University of Edinburgh, UK, 2007-2008
    • B.Eng in Mechanics Engineering with Aircraft Design, School of Aeronautics, Beihang University, China, 2003-2007
    • B.Sc in Applied Mathematics, School of Mathematics, Beihang University, China, 2005-2007

    ACADEMICS

    Research interests: Credit scoring and credit rating, credit portfolio management, Basel Accord and stress testing, financial distress and bankruptcy prediction, consumer finance and green finance, Fintech and Regtech, big data analytics, social credit systems.

    Journal Editorship

    • Journal of Chinese Economics and Business (ABS 1), Guest Editor, Special Issue 'Financial Distress and Default', 2023-
    • British Accounting Review (ABS 3), Guest Editor, Special Issue 'New Perspectives on Financial Distress and Corporate Risk Management'，2022-
    • China Finance Review International (ABS 1), Youth Editor, 2022-
    • Journal of Credit Risk (ABS 1), Guest Editor, Special Issue 'Smart Credit', 2022-
    • International Journal of Forecasting (ABS 3), Guest Editor, Special Session 'Credit Risk Modelling', 2020-2021
    • International Journal of Financial Engineering (ESCI), Associate Editor, 2020-
    • Financial Development Review (Chinese), Executive Editor, 2020-2021-

    Editorials

    • Li, Z., Andreeva, G., & Bellotti, T. (2022). Special section on credit risk modelling—Guest editorial. International Journal of Forecasting, 38(3), 1051-1053. DOI/PDF.
    • Li Z, Wei L & Yuan G X. (2021). Special Issue on Credit Technology, International Journal of Financial Engineering, 8(3). Link

    First-author publications

    10. Li Z, Li A, Bellotti A & Yao X. (2023). The profitability of online loans: a competing risks analysis on default and prepayment. European Journal of Operational Research. 306(2): 968-985. (ABS4, JCR Q1). DOI/PDF.

    9. Li Z, Feng C & Tang Y. (2022). Bank efficiency and failure prediction: A nonparametric and dynamic model based on data envelopment analysis. Annals of Operations Research. 315:279-315 (ABS 3, JCR Q1). DOI/PDF.

    8. Li Z, Zhang J, Yao X & Kou G. (2021). How to identify early defaults in online lending: A cost-sensitive multi-layer learning framework. Knowledge-Based Systems. 221. 106963. (JCR Q1). DOI / PDF.

    7. Li Z, Crook J, Andreeva G & Tang Y. (2021). Predicting the Risk of Financial Distress using Corporate Governance Measures. Pacific-Basin Finance Journal. 68. 101334. (ABS 2, JCR Q1). DOI / PDF.

    6. Li Z, Tang Y, Wu J, Zhang J & Lv Q. (2020). The interest costs of green bonds: credit ratings, corporate social responsibility, and certification. Emerging Markets Finance and Trade. 56(12):2679-2692. (ABS 2, JCR Q3). DOI / PDF.

    5. Li Z, Hu X, Li K, Zhou F & Shen F. (2020). Inferring the Outcomes of Rejected Loans: an Application of Semi-supervised Clustering Algorithms. Journal of the Royal Statistical Society: Series A (Statistics in Society). 183(2):631-654. (ABS 3, JCR Q1). DOI / PDF.

    4. Li Z, Li K, Yao X & Wen Q. (2019). Predicting prepayment and default risks of unsecured consumer loans in online lending. Emerging Markets Finance and Trade. 55(1):118-132. (ABS 2, JCR Q3). DOI / PDF.

    3. Li Z, Crook J & Andreeva G. (2017). Dynamic prediction of financial distress using Malmquist DEA. Expert Systems with Applications. 80:94-106. (ABS 3, JCR Q1). DOI / PDF.

    2. Li Z, Tian Y, Li K, Zhou F & Yang W. (2017). Reject inference in credit scoring using Semi-supervised Support Vector Machines. Expert Systems with Applications. 74:105-114. (ABS 3, JCR Q1). DOI / PDF.

    1. Li Z, Crook J & Andreeva G. (2014). Chinese Companies Distress Prediction: An Application of Data Envelopment Analysis. Journal of the Operational Research Society. 65(3):466-479. (ABS 3, JCR Q2). DOI / PDF.

    Co-authored articles

    11. 1. Li A, Li Z, & Bellotti A. (2023). Predicting Loss Given Default of Unsecured Consumer Loans with Time-varying Survival Scores. Pacific-Basin Finance Journal. 78. 101949. (ABS2, JCR Q1). DOI/PDF.

    10. Zhou F, Fu L, Li Z & Xu J. (2022) The Recurrence of Financial Distress: A Survival Analysis. International Journal of Forecasting. 38(3): 1100-1115. (ABS3, JCR Q1). DOI/PDF.

    9. Zeng X, Li Z, Yang W & Huang Z. (2022) The risk interdependence of cryptocurrencies: Before and during the COVID-19 pandemic. International Journal of Financial Engineering. 8. (ESCI). DOI / PDF.

    8. Wu Z & Li Z. (2021). Customer Churn Prediction for Commercial Banks Using Customer Value Weighted Machine Learning Models. Journal of Credit Risk. 17(4): 15-42. (JCR Q4, ABS1). DOI / PDF.

    7. Li K, Zhou F, Li Z, Li W & Shen F. (2021). A semi-parametric ensemble model for profit evaluation and investment decisions in online consumer loans with prepayments. Applied Soft Computing. 107. 107485. (JCR Q1). DOI /PDF.

    6. Li K, Zhou F, Li Z, Yao X & Zhang Y. (2021). Predicting loss given default using post-default information, Knowledge-Based Systems. 224. 107068. (JCR Q1). DOI / PDF.

    5. Tang Y, Li Z, Chen J & Deng C. (2021). Liquidity creation cyclicality, capital regulation and interbank credit: Evidence from Chinese commercial banks. Pacific-Basin Finance Journal. 67. 101523. (ABS2, JCR Q1). DOI / PDF.

    4. Shen F, Zhao X, Li Z, Li K & Meng Z. (2019). A novel ensemble classification model based on neural networks and a classifier optimisation technique for imbalanced credit risk evaluation. Physica A: Statistical Mechanics and its Applications. 526. 121073. (JCR Q2). DOI​ / PDF.

    3. Tang Y, Moro A, Sozzo S & Li Z. (2018). Modelling trust evolution within small business lending relationships. Financial Innovation. 4:1-19. (JCR Q1). DOI / PDF.

    2. Shen F, Ma X, Li Z, Xu Z & Cai D. (2018). An extended intuitionistic fuzzy TOPSIS method based on a new distance measure with an application to credit risk evaluation. Information Sciences. 428:105-119. (JCR Q1). DOI / PDF.

    1. Tian Y, Li K, Yang W & Li Z. (2017). A new effective branch-and-bound algorithm to the high order MIMO detection problem. Journal of Combinatorial Optimization. 33(4):1395-1410. (ABS2, JCR Q3). DOI / PDF.

    Books & chapters

    5. Credit Scoring and Its Application. (2020). China Financial Publishing House: Beijing, ISBN: 9787522005560, Mandarin edition of Credit Scoring and Its Applications by Lyn Thomas, Jonathan Crook, David Edelman, 2017, 2nd revised edition, Society for Industrial & Applied Mathematics (SIAM):Philadelphia.

    4. The Principle and Practice of Credit Rating. (2019). Part I: Theories of credit rating. China Financial Publishing House: Beijing, ISBN: 9787504998491

    3. Fintech Operations in China. (2018). Chapter 12: Infrastructure development, Social Sciences Academic Press (China): Beijing, ISBN: 9787520128612

    2. The Credit Scoring Toolkit. (2017). China Financial Publishing House: Beijing, ISBN: 9787504990334, Mandarin edition of The Credit Scoring Toolkit: Theory and Practice for Retail Credit Risk Management and Decision Automation by Raymond Anderson, 2007, Oxford University Press: London.

    1. Consumer Credit Models. (2016). China Financial Publishing House: Beijing, ISBN: 9787504984111, Mandarin edition of Consumer Credit Models: Pricing, Profit and Portfolios by Lyn Thomas, 2008, Oxford University Press: London.

    Conference proceedings

    • Tang Y, Moro A, Sozzo S & Li Z. (2019) A Spiral Model of Trust Evolution. In: Xu J, Cooke F, Gen M, Ahmed S (eds) Proceedings of the Twelfth International Conference on Management Science and Engineering Management. ICMSEM 2018. Lecture Notes on Multidisciplinary Industrial Engineering. Part 3, pp. 515-526. Springer: Cham.
    • Shen F, Liu Y, Lan D, Li Z. (2019) A Dynamic Financial Distress Forecast Model with Time-Weighting Based on Random Forest. In: Xu J, Cooke F, Gen M, Ahmed S (eds) Proceedings of the Twelfth International Conference on Management Science and Engineering Management. ICMSEM 2018. Lecture Notes on Multidisciplinary Industrial Engineering. Springer: Cham
    • Shen F, Lan D & Li Z. (2017). An Intuitionistic Fuzzy ELECTRE-III Method for Credit Risk Assessment. In: Xu J, Hajiyev A, Nickel S, Gen M (eds) Proceedings of the Tenth International Conference on Management Science and Engineering Management. Advances in Intelligent Systems and Computing, vol. 502. pp. 289-296. Springer: Singapore.

    Chinese journal papers

    • Yuan G, Zhou Y, Yan C, Li Z et al. (2022) A Feature Extraction Method on Corporate Financial Fraud. Chinese Journal of Management Science. 30(3): 43-54. (CSSCI)
    • Cheng G, Wen Q & Li Z. (2017). Dynamic analysis on bank credit risk and macroeconomic conditions based on TVP-SV-VAR models. Financial Regulation Research (CSSCI). 63(3): 51-72.
    • Guo H, Peng Y & Li Z. (2008). A visualization study on the flow structures in the transitional boundary layer under adverse pressure gradient. Journal of Experiments in Fluid Mechanics (CA). 22(2): 68-73.

    Invitations & presentations

    • Credit Scoring and Credit Rating (2020, Chengdu; 2022 Ningbo)
    • China International Risk Forum (2016, Shanghai; 2019, Tianjin; 2020, Online; 2021, Chengdu; 2022, Online)
    • Credit Scoring and Credit Control (2009, 2011, 2013, 2015, 2017, 2019, 2021, Edinburgh)
    • International Risk Management Conference (2015, Luxembourg; 2016, Jerusalem; 2017, Florence; 2020, Online; 2021, Online; 2022, Online)
    • WRDS Advanced Research Scholar Program at the Wharton School of UPenn (2018, Philadelphia; 2019 Beijing)
    • International Conference on Internet Finance (2019, Hangzhou)
    • Workshop on Banking and Financial Stability at Deakin Business School (2019, Melbourne)
    • Sino-US Economist Fintech Innovation Forum (2018, Stanford)
    • International Conference on Corporate Governance in Emerging Markets (2018, Amsterdam)
    • International Conference on Energy Finance (2018, Beijing)
    • International Conference on Financial Markets and Institutions (2017, Chengdu)
    • International Finance and Banking Society (IFABS) Asia Conference (2017, Ningbo)
    • International Conference on Asian Financial Markets and Economic Development (2017, Nagasaki)
    • European Conference on Operational Research (2012, Vilnius, 2013, Rome; 2016, Poznan)
    • Joint Meeting of the Financial Education Alliance and the Central Taiwan Finance Association (2016, Taiwan; 2017 Jiangxi)
    • China-UK Microfinance and Rural Finance Conference (2015, Chengdu),
    • OR Annual Conference (2012, Edinburgh; 2013, Exeter)
    • YoungOR Conference (2011, Nottingham)

    STUDENT SUPERVISION

    • 4 PhD in Finance: Aimin Li (2018-), Chen Feng (2019-), Quansheng Xuan (2020-), Lijun Fu (2021-), Meiqi Liu (2022-)
    • 4 DBA in Management: Xiaotang Tang (2019-2022), Hao Sun (2019-2022), Zengyi Xue (2021-), Jie Ouyang (2022-)
    • 63 Master students in Finance/Financial Engineering/Credit Management
    • 17 MBA&EMBA students and projects
    • 10 MF projects and dissertations

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