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Faculty & Research


About Lily Fang

Professor of Finance

Lily Fang is a Professor of Finance at INSEAD and the AXA Chair in Financial Market Risk. Professor Fang joined INSEAD in the Asia Campus in 2003, among the first cohort of resident faculty based in Singapore. She is currently based in the European Campus and is the Dean of Research at INSEAD. 

Professor Fang’s primary research interest is financial market information – information flow, signal value, and investment strategies. She has published numerous papers in top academic journals such as the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies on the performance, behavior, and incentives of different information producers or users such as financial analysts and fund managers. Her work on the relation between mass media coverage and stock returns received the prestigious Smith Breeden prize in the Journal of Finance and is one of the pioneering papers on the role of the mass media in financial markets.

Her secondary research interest includes innovation and economic growth: policies and factors that affect these outcomes. Currently one of her projects studies the macro trend of material use in agriculture and industry, aiming to understand the relation between material usage and economic growth and between innovation and sustainability. 

Professor Fang teaches a broad range of topics in the MBA, EMBA, and Executive programs. These include: corporate finance, capital markets, valuation, private equity/venture capital/entrepreneurial finance, and FinTech. She directs the flagship Finance for Executives Program and the INSEAD Fintech Programme. She is a repeated winner of the Dean's Commendation Award for Teaching Excellence in both the MBA and Executive program. During her visit at the MIT Sloan School of Management she also won the Outstanding Teacher Award.

Professor Fang has advised a number of large institutional investors on investment strategies.

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.

Faculty Profile



Lily Fang
Professor of Finance
INSEAD Europe Campus
Boulevard de Constance
77305 Fontainebleau

Tel: +33 1 60 72 49 92
Email: [email protected]

Assistant: Justine Guilaine
Email: [email protected]