The AXA Chaired Professor in Financial Market Risk
Professor of Finance
Lily Fang is a Professor of Finance at INSEAD and the holder of the AXA Chair in Financial Market Risk. Professor Fang joined INSEAD in the Asia Campus in 2003. She is currently the Dean of Research and is based in the Europe campus. Lily Fang directs Finance for Executives and the INSEAD Fintech Programme.
Professor Fang’s primary research interest is financial market information and investment strategies. She has published numerous papers on the performance, behavior, and incentives of financial analysts, fund managers, and financial institutions in top academic journals such as the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies. Her work on the relation between media coverage and stock returns received the prestigious Smith Breeden prize for outstanding papers published in the Journal of Finance. Professor Fang has advised a number of large institutional investors on investment strategies.
At INSEAD Professor Fang teaches corporate finance, capital markets, valuation, private equity, venture capital and entrepreneurial finance in the MBA, EMBA, and Executive Education programmes. She has won the Dean's Commendation Award for Excellence in MBA Teaching numerous times and has taught and directed numerous Executive Education programmes. Professor Fang has also been a Visiting Professor of Finance at the MIT Sloan School of Management where she won the Outstanding Teacher Award.
Professor Fang obtained her PhD in Finance from the Wharton School, University of Pennsylvania. Prior to that, she studied mathematics, actuarial science and management science at Simon Fraser University in Vancouver.
Pascal Maenhout is an Associate Professor of Finance at INSEAD. He teaches corporate finance, portfolio theory, and capital markets in MBA, PhD and Executive Education programmes, directing the Finance for Executives programme. He graduated summa cum laude from the Department of Economics at the University of Leuven, Belgium and obtained an MA and a PhD in Financial Economics from Harvard University.
His research interests include portfolio theory, derivatives, asset pricing, and risk management. Recent papers have been published, or are forthcoming, in leading academic journals such as the Journal of Finance, Review of Financial Studies, Journal of Economic Theory, Journal of Financial and Quantitative Analysis, Review of Finance, and Journal of Banking and Finance. Pascal Maenhout received the 2006 Institut Europlace Award for best article in finance published in 2005, the 2000 BACOB ARTESIA Prize for Research in Financial Economics, and grants from BSI Gamma and Inquire.
He has previously taught at Harvard University.