Zongfei (Lisa) Yang
Associate Professor of Finance
Zongfei “Lisa” Yang’s research centers on corporate bonds, credit ratings, and institutional investors. She is currently focusing on how corporate bonds are priced, sold, and traded in the new issuance market, and how the market efficiency is influenced by the interplay of institutional investors, corporate governance, and regulations.
Yang’s work has been published or accepted in peer-reviewed journals such as Journal of Banking and Finance, Journal of International Money and Finance, Journal of Fixed Income, Journal Behavioral Finance, and Journal of Financial and Quantitative Analysis. Prior to joining Loyola, Yang served as a tenured associate professor of finance at Montana State University. Currently, she is teaching corporate finance and Fintech.
Education
- PhD in Finance, University of Oklahoma
- MSc in Finance, Singapore Management University
- BS in Economics (International Economics), Shanghai Jiao Tong University
Publications/Research Listings
Goh, Jeremy, Paul Malatesta, Zongfei Yang (2025), “Market Volatility, Valuation Uncertainty, and the Underpricing of Corporate Bond Offerings”, 34 (4) 78-100, Journal of Fixed Income.
Goh, Jeremy and Zongfei Yang (2025) “Limits to Arbitrage, Market Sentiment, And Return Anomalies around Earnings Announcements”, forthcoming at Journal of Behavioral Finance.
Goh, Jeremy, Paul Malatesta, Zongfei Yang (2024), “Do Demand Curves for Corporate Bonds Slope Down?”, 34 (2) 30-47, Journal of Fixed Income.
Yang, Zongfei and Jeremy Goh (2024) “Efficiency and Sustainability of Bond Market: Evidence from Aftermarket Trading of Corporate Bond Offerings” Pacific-Basin Finance Journal 85, 102385.
Goh, Jeremy, and Zongfei Lisa Yang (2024) “Do Underwriters Short-Change Corporations Issuing Bonds?” Journal of Financial and Quantitative Analysis 59 (1), 369 - 394.
Ederington, Louis, Jeremy Goh, Yenteik Lee, and Lisa Yang (2019), “Are Bond Ratings Informative? Evidence from Regulatory Regime Changes”, Journal of Fixed Income, 29 (1) 6-19 (lead article).
Ederington, Louis, Fang Lin, Scott Linn, and Lisa Yang (2019), “EIA Storage Announcements, Analyst Storage Forecasts, and Energy Prices”, Energy Journal 40, 5.
Ederington, Louis, Wei Guan, and Lisa Yang (2019), “The Impact of the U.S. Employment Report on Exchange Rates”, Journal of International Money and Finance 90, 257-267.
Yang, Lisa, Jeremy Goh, and Chiraphol Chiyachantana (2016), “Valuation Uncertainty, Market Sentiment and the Informativeness of Institutional Trades”, Journal of Banking and Finance 72, 81-98.
Ederington, Louis, Wei Guan, and Lisa Yang (2015), “Bond Market Event Study Methods”, Journal of Banking and Finance 58, 281–293.