Associate Professor Steven Li

Steven joined the University of South Australia at the beginning of 2007 as Associate Professor of Finance. He has a strong background in Quantitative Finance, having published in many leading international journals and taught at respected universities in Australia and China including QUT and Tsinghua University. Steven is also currently the Finance Discipline Leader at the International Graduate School of Business.

• Managerial Finance
• Corproate Finance
• Investments
• Derivatives and Financial Engineering
• Financial Modelling

Steven has visited many universities worldwide and has done a few consulting projects, inclding the ones for News Corporattion and Bank of Japan.

He is currently on the editorial board for the Afro-Asian Journal of Finance and Accounting (AAJFA).

Ph.D, Delft University of Technology (The Netherlands).

Master of Business Administration (Finance), University of Melbourne (Australia).

Bachelor of Science, Tsinghua University (Beijing, China).

• Quantitative Finance
• Corporate Finance
• Asset pricing, in particular Derivatives Pricing
• Efficiency of Financial Markets
• Investments

Steven has published over 30 journal papers and book chapters in Finance and Applied Mathematics. Some selected publications are:

A valuation model for firms with stochastic earnings, Applied Mathematical Finance 10, 229-243, 2003.

A new formula on computing the implied volatility. Applied Mathematics and Computation, Vol. 170/1 pp 611-625, 2005

The arbitrage efficiency of Nikkei 225 options market: a put-call parity analysis, Monetary and Economics Studies, Vol. 24, No. 2, 33-54, November 2006.

Calendar spread trading and the efficiency of Australian bank accepted bill futures market, Review of Pacific Basin Financial Markets and Policies, Vol 10, No. 2 (2007), 157-172 (with J. Anderson).

The usefulness of derivative-related disclosure: evidence from major Australian banks. International Journal of Accounting, Auditing and Performance Evaluation, Vol. 4, No. 3, 2007 (with S. Gao)

Corporate governance and corporate performance: some evidence from newly listed firms on Chinese stock markets. International Journal of Accounting, Auditing and Performance Evaluation, Vol. 4, No. 2, 2007, 183-197(with L. Chen & W. Lin).

Evidence on the arbitrage efficiency of SPI index futures and options markets. Vol. 13 (2006), 13-71, Asia-Pacific Financial Markets (with E. Alfay).

Financing decisions during different economic periods: Evidence from Indonesia and Malaysia. International Journal of Monetary Economics and Finance, Vol. 1, No. 4, 2008, 355-379(with Ludwig F. M. Reinhard).

The relation between implied and realized volatility: evidence from the Australian stock index option market. Review of Quantitative Finance and Accounting, Volume 32, Issue 4 (2009), 405-419 (with Q. Yang).

Valuing primary issue convertible bonds: evidence from China. Journal of Derivatives and Hedge Funds,Vol. 15, 3, 172-185 (2009) (with L. Chen & H. Liu).

A note on capital structure target adjustment – Indonesian evidence, To appear in: International Journal of Managerial Finance (with Ludwig F. M. Reinhard).

Empirical Performance of Affine Option Pricing Models: Evidence from the Australian Index Options Market, To appear in: Applied Financial Economics (with T. Sharp and D.E. Allen).

I am able to provide media comment in the following areas of expertise:

Discipline:

• Interest Rates,
• Stock Markets
• and other financial issues