Xinwei Li

Please visit my Personal Webpage for more information.

Xinwei is a Ph.D. candidate in Finance. His research interests lie in asset pricing, macro-finance, and sustainable finance. His work has been presented at top finance conferences, including American Finance Association (AFA) Annual Meeting, SFS Cavalcade North America, European Finance Association (EFA) Annual Meeting, and China International Conference in Finance (CICF). He was a visiting scholar at the Wharton School, University of Pennsylvania in 2023. Before joining INSEAD, Xinwei obtained his B.Sc. in Finance and Applied Mathematics from the University of Macau in 2018, where he was an Honours College student and a Chao Kuang Piu College resident. He also studied as an exchange student at the Ross School of Business, University of Michigan in 2017.

• The Cross-Section of Dividend Discount Rates [Job Market Paper]


• Production-Based Stochastic Discount Factors (with Frederico Belo)


• The Rise and Fall of Investment: Rethinking Q Theory in Equilibrium (with Xinyu Liu)


• The Monetary Channel of the Green Premium


• Demonetized Q: Tobin Meets Jorgenson

• Ph.D. in Management (Finance), INSEAD, 2018–present


• Visiting Scholar, The Wharton School, University of Pennsylvania, 2023


• B.Sc. in Finance and Applied Mathematics, University of Macau, 2014–2018


• Exchange Student, Ross School of Business, University of Michigan, 2017