Jianfeng YU
Deputy Chair of Institute for Fintech Research, Tsinghua University
PBCSF Jianshu Chair Professor of Finance
Ph.D. in Finance, University of Pennsylvania
Research Interests:
Asset pricing with frictions, behavioral asset pricing, and international markets
Because this is an Finance MBA program, our curriculum will definitely pay more attention to Finance, unlike the MBA program in a broader sense.
So it's better for students to have some preliminary understanding of the financial market before they join our program.
Through exchanging ideas after class, sometimes I feel that I have learned a lot from our students.
They came here with different backgrounds and rich experiences.
As professors, we do a lot of research, but there are still gaps between research and reality.
Talking to our students has enriched my understanding of the industry institutions with detailed information.
In fact, I have learned a lot from them. They are very intelligent, capable, and meticulous. And their explanation is very elaborate.
The course I teach for this program is Data Analysis, which could be quite technical.
Since they have a lot of work experience, many of them have been working for many years, and are already middle-level managers, they will not do regression themselves.
For example, in my class, I would give them a simple formula. Then I would talk about the logic behind it, rather than showing the derivation of the formula.
I would show them the variables involved in this formula and explain each represents which financial elements, such as option value.
I will tell them about the economic logic behind it. And they will have a brief idea of the economic concept afterwards.
As technology is under constant innovation, once a new thing appears, there are always some bubbles alongside, as well as media hypes.
There is also often going to be craze at this time.
Because people tend to be optimistic about something if they are not familiar with it. Therefore, some of the bubbles can be overheated.
Times like this is when I hope that our students should have their own judgment.
At this time, you should spend some time, even a few days, studying the underlying technology.
Then, you'll be able to tell whether the bubble is only a craze, or with real value, and, if so, its application scenarios.
