Dr. Zhiyong Li joined Bangor Business School as a Senior Lecturer in Finance in 2025. Before joining Bangor, he worked at the University of Leicester, De Montfort University, and the University of Nottingham Ningbo China. His research interests include empirical asset pricing, market microstructure, corporate finance, and behavioural finance. He has published in journals such as European Financial Management, Journal of Futures Markets, International Journal of Finance and Economics, International Review of Financial Analysis, and Review of Quantitative Finance and Accounting, among others. Zhiyong is a Fellow of the Higher Education Academy (FHEA) and has supervised five PhD students to successful completion.

• PhD
  University of Nottingham, 2015
• MSc: Economics
  University of Leicester, 2007
• BSc: Economics
  China University of Petroleum, Beijing, 2006
• BEng: Chemical Engineering
  China University of Petroleum, Beijing, 2006

I am willing to supervise a PhD

2025

• E-pub ahead of printESG Risk and Market Return Predictability: New Evidence From the Eurozone
  Li, Z., Li, Z. & Qin, W., 9 Apr 2025, (E-pub ahead of print) In: European Financial Management.
  Research output: Contribution to journal › Article › peer-review
• E-pub ahead of printIdentifying Stock Option Mispricing at a Large Cross Section
  Xu, Y., Zhang, D., Li, Z. & Wang, S., 1 Sept 2025, In: Journal of Futures Markets. 45, 9, p. 1202-1231
  Research output: Contribution to journal › Article › peer-review

2022

• PublishedUncertain times and the insider perspective
  Lambe, B., Li, Z. & Qin, W., 1 May 2022, In: International Review of Financial Analysis. 81
  Research output: Contribution to journal › Article › peer-review

2018

• PublishedNew Bid-Ask Spread Estimators From Daily High and Low Prices
  Li, Z., Adegbite, E. & Lambe, B., 1 Nov 2018, In: International Review of Financial Analysis. p. 69-86
  Research output: Contribution to journal › Article › peer-review

2017

• E-pub ahead of printDo Psychological Fallacies Influence Trading in Financial Markets? Evidence from the Foreign Exchange Market
  Bleaney, M., Bougheas, S. & Li, Z., 13 Jun 2017, (E-pub ahead of print) In: Journal of Behavioral Finance. 18, 3, p. 334-357
  Research output: Contribution to journal › Article › peer-review

2016

• PublishedA new spread estimator
  Bleaney, M. & Li, Z., 1 Jul 2016, In: Review of Quantitative Finance and Accounting. 47, p. 179-211
  Research output: Contribution to journal › Article › peer-review
• PublishedDecomposing the bid-ask spread in multi-dealer markets
  Bleaney, M. & Li, Z., 1 Jan 2016, In: International Journal of Finance & Economics. 21, 1, p. 75-89
  Research output: Contribution to journal › Article › peer-review

2015

• PublishedThe performance of bid-ask spread estimators under less than ideal conditions
  Bleaney, M. & Li, Z., 2 Mar 2015, In: Studies in Economics and Finance . 32, 1, p. 98-127
  Research output: Contribution to journal › Article › peer-review