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Good News | The 2024 Outstanding Paper Award of Journal of Financial Research Announced: SME Research Selected

Release time:27 October 2025

Days ago, Excessive Issuance of New Funds in China and Its Implication on Investor Protection, a paper co-authored by Professor Ye Shuai and Professor Zhang Jinfan from the School of Management and Economics (SME), The Chinese University of Hong Kong, Shenzhen (CUHK-Shenzhen), won the 2024 Outstanding Paper Award of the Journal of Financial Research. This award-winning paper, with a focus on the long-standing phenomenon in the Chinese mutual fund industry, namely, “initial public offerings over ongoing marketing and operations of old funds,” offers an in-depth analysis of its underlying institutional roots and potential impacts on investors’ rights.

About the Journal of Financial Research

Journal of Financial Research is a publication distributed both domestically and internationally under the supervision of the People’s Bank of China and sponsorship of the China Society for Finance & Banking, and is edited and published by the Editorial Department of Journal of Financial Research, Research Institute of the People’s Bank of China. Over four decades since its foundation, it has become an authoritative academic journal leading the forefront of Chinese academia, integrating theories, policies, and practices.

About the Award Winners

Ye Shuai

Assistant Professor, SME, CUHK-Shenzhen

Research Field

Asset Pricing and Market Microstructure

Zhang Jinfan

Associate Professor and Area Head of Finance, SME, CUHK-Shenzhen

Research Field

Chinese Economy, Capital Markets and Financial Institutions, and Digital Economy

 

Co-authors

Zheng Kaixuan

Master of Financial Engineering and Research Assistant, CUHK-Shenzhen
 

About the Research: 

Research | Ye Shuai and Zhang Jinfan: Excessive Issuance of New Funds in China and Its Implication on Investor Protection