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Lily Fang joined INSEAD as an Assistant Professor of Finance in 2003. She holds an MA and PhD in Finance from the Wharton School, University of Pennsylvania. Prior to studying finance, she studied mathematics, actuarial science and management science at Simon Fraser University, Vancouver, Canada.
Professor Fang's research interest includes financial intermediation - the role of banks, investment banks, and stock analysts, and the relation between information environment and stock returns. Her work has examined issues such as the relation between investment bank reputation and the price and quality of underwriting service, and the effect of reputation - both personal reputation of individual analysts, and institutional reputation of investment banks - on the conflict of interest problem in Wall Street research. Professor Fang's work has appeared in prestigious journals such as the Journal of Finance and Financial Times.
At INSEAD, Professor Fang teaches Financial Markets and Valuation, a core MBA finance course, and Private Equity Finance, an elective course in Finance. She is a co-director of the Mastering Alternative Investments program, an open-enrollment executive program.
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