Biography

I am a Senior Lecturer in finance in the Economics and Finance group at the Keele Business School. Before joining Keele, I was an Assistant Professor at the University of Nottingham and a Lecturer at the University of Bradford. I received my PhD in finance from the Cass Business School, City University.

My research interests are in the areas of efficient market anomalies, asset pricing, corporate finance, capital structure, cash holdings, and peer-to-peer lending. I have published articles in international journals, including Review of Finance, Journal of Business Research, Journal of Banking and Finance, Journal of International Money and Finance, Journal of International Financial Markets, Institutions & Money, Journal of Business, Finance & Accounting among others I have served as a reviewer for international journals in finance.

Research and scholarship

My current research interests include:

  • Efficient market anomalies
  • Asset pricing
  • Capital structure and zero-leverage
  • Peer-to-peer lending
  • Cash holdings
  • R&D and market competition

I would welcome applications from students in the areas of asset pricing, corporate finance, and fintech.

Teaching

  • ECO-30053 Investment Management
  • ECO-30050 Applied Econometrics
  • ECO-30048 Risk Management with Derivatives
  • FIN-40039 Fixed Income Securities and Credit Risk

Selected Publications

  • Xu Z, Li X, Chevapatrakul T, Gao N. 2022. Default risk, macroeconomic conditions, and the market skewness risk premium. Journal of International Money and Finance, 102683, vol. 127. doi>
  • Li X and Luo D. 2020. Increase in cash holdings of U.S. firms: The role of healthcare and technology industries. Journal of Business Research, 286-298, vol. 118. doi>
  • Li X and Luo D. 2019. Financial constraints, stock liquidity, and stock returns. Journal of International Financial Markets, Institutions and Money, 101139, vol. 63. doi>
  • Xu Z, Chevapatrakul T, Li X. 2019. Return asymmetry and the cross section of stock returns. Journal of International Money and Finance, 93-110, vol. 97. link> doi> link> full text>
  • Li X and Luo D. 2017. Investor sentiment, limited arbitrage, and the cash holding effect. Review of Finance, rfw031. doi>

Full Publications Listshow

Journal Articles

  • Xu Z, Li X, Chevapatrakul T, Gao N. 2022. Default risk, macroeconomic conditions, and the market skewness risk premium. Journal of International Money and Finance, 102683, vol. 127. doi>
  • Li X and Luo D. 2020. Increase in cash holdings of U.S. firms: The role of healthcare and technology industries. Journal of Business Research, 286-298, vol. 118. doi>
  • Li X and Luo D. 2019. Financial constraints, stock liquidity, and stock returns. Journal of International Financial Markets, Institutions and Money, 101139, vol. 63. doi>
  • Xu Z, Chevapatrakul T, Li X. 2019. Return asymmetry and the cross section of stock returns. Journal of International Money and Finance, 93-110, vol. 97. link> doi> link> full text>
  • Li X and Luo D. 2017. Investor sentiment, limited arbitrage, and the cash holding effect. Review of Finance, rfw031. doi>
  • Miffre J, Brooks C, Li X. 2013. Idiosyncratic volatility and the pricing of poorly-diversified portfolios. International Review of Financial Analysis, 78-85, vol. 30. doi>
  • Li X, Brooks C, Miffre J. 2009. Transaction costs, trading volume and momentum strategies. The Journal of Trading, 66-81, vol. 5(1). doi>
  • Li X, Brooks C, Miffre JL. 2009. The value premium and time-varying volatility. Journal of Business Finance & Accounting, 1252-1272, vol. 36(9-10). doi>
  • Li X, Brooks C, Miffre J. 2009. Low-cost momentum strategies. Journal of Asset Management, 366-379, vol. 9(6). doi>
  • Li X, Miffre J, Brooks C, O’Sullivan N. 2008. Momentum profits and time-varying unsystematic risk. Journal of Banking & Finance, 541-558, vol. 32(4). doi>
  • Mazouz K and Li X. 2007. The overreaction hypothesis in the UK market: empirical analysis. Applied Financial Economics, 1101-1111, vol. 17(13). doi>

Keele Business School
Denise Coates Foundation Building
Keele University
Staffordshire
ST5 5AA
Tel: +44 (0) 1782 733109

Undergraduate enquiries:
Tel: +44 (0) 1782 734281
Email: kbs.ug@keele.ac.uk

Postgraduate enquiries:
Tel: +44 (0) 1782 734367
Email: kbs.pg@keele.ac.uk