1. Peixin Liu, Hao Wang, Lihong Zhang (2025), “Multiple climate ambiguities and optimal carbon emission abatement decisions,” Risk Sciences, Volume 1, 2025, 100024,
https://doi.org/10.1016/j.risk.2025.100024.
2. Liu, Y., Wang, H., Wang, T and Zhang, L. (2025), “Volatility Ambiguity, Portfolio Decisions,and Equilibrium Asset Pricing”, Management Science 71(6):5185-5203. https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2022.02902
3. Lu, T., Zhang. L., Zhang, X. and Zhao, Z. (2025), “Beyond Risk: A Measure of Distribution Uncertainty”, Information Systems Research 36(2):944-961.
https://pubsonline.informs.org/doi/abs/10.1287/isre.2022.0089
4.Zhang, L. and Zhang, X.(2025), “Mispricing and Algorithm Trading”, Information Systems Research 36(1):21-40. https://pubsonline.informs.org/doi/10.1287/isre.2021.0570.
5. Cheng, B., Wang, H. and Zhang, L.(2024),“Robust Investment for Insurers with Correlation Ambiguity” , Quarterly Review ofEconomics and Finance 93(2024), 247--257.
6. Liu, B., Zhang, L. and Zhou, M (2024), “Portfolio selections for insurers with ambiguity aversion: minimizing the probability of ruin”, Applied Economics, 2024, vol. 56, issue 12, 1423- 1439.
7. Zhang, X. and Zhang, L.(2015) “How Does the Internet Affect the Financial Market? An Equilibrium Model of Internet-Facilitated Feedback Trading,” MIS QUARTERLY Vol. 39, No. 1, pp 17-37.
8. Zhang, L. and Zhao, L. (2013) “Quantifying the Impact of Partial Information on Sharpe Ratio Optimization” Probability in Engineering and Informational Sciences, Volume 27 / Issue 03 / July 2013, pp 375-402
9. Wang, Y., Zhang, L. and Yin, K., (2012) “Behavioral patterns of Chinese stock funds: Evidence from closed growth stock funds”, Tsinghua Science and Technology Vol. 52, 260-264 (in Chinese)
10. Sun, L., Zhang, L. (2011) “Optimal Consumption and Investment under Irrational Beliefs”, Journal of Industrial and Management Optimization, Vol 7,139-156.
11. Gao, J., Song, F. and Zhang, L. (2011), “Who wants to be informed---More risk aversion or less risk aversion”, Tsinghua Science and Technology Vol. 16, 69-73
12. Chen, B., Zhang, L. and Zhao, L (2010), “On the Robustness of Longevity Risk Pricing”, Insurance: Mathematics and Economics 47, 358-373
13. Wang, Z., Xia, J. and Zhang, L.H., (2007) “Optimal Investment for An Insurer: the Martingale Approach”, Insurance: Mathematics and Economics 40(2) ，322-334
14. Gao, F., Song, F. and Zhang, L.H., (2007) “Coherent Risk Measure, Equilibrium and Equilibrium pricing”, Insurance: Mathematics and Economics 40, 85-94.
15. Ng, KW, Yang, H. and Zhang, L.H., (2006) “Upper Bounds for Ruin Probability under Compound Filtered Poisson Models”, International Journal of Statistics and System Vol.1 No. 2, 191-201.
16. Yang, J., Cheng, S. and Zhang, L.H., (2006) “Bivariate Copula Decomposition in Terms of Comontonicity, Countermonotocity and Independence”. Insurance: Mathematics and Economics 39, 267-284.
17. Yang Hailiang. & Zhang L.H. (2006) “Ruin Problems for a Discrete Time Risk Model with Random Interest Rate”, Mathematical Methods of Operations Research Vol 63, No. 2, 287-299.
18. Zhang L.H., (2005) “Upper Bounds for Ruin Probability with Stochastic Investment Return”, Tsinghua Science and Technology, Vol. 10, No. 2, 254-258
19. Zhang L.H., (2005) “Ruin Probability in Linear Time Series Model”, Tsinghua Science and Technology, Vol. 10, No. 2, 259-264.
20. Yang H. & Zhang, L.H., (2005) “Optimal Investment for Insurer with Jump-Diffusion Risk Process”, Insurance: Mathematics and Economics 37(3), 615-634
21. Ng KW, Yang H. & Zhang L.H., (2004) “Ruin Probability under Compound Poisson Models with Random Discount Factor”, Probability in Engineering and Informational Sciences, 18, 2004, 55-70
22. Yang H. & Zhang L.H., (2003)“Martingale Method for Ruin Probability in an Autoregressive Model with Constant Interest Rate”, Probability in Engineering and Informational Sciences, 17, 2003, 183-198
23. Yang H. & Zhang L.H., (2001) “The Joint Distribution of Surplus Immediately before Ruin and the Deficit at Ruin under Interest Force”, North American Actuarial Journal 5(3): 92-103.
24. Yang H. & Zhang L.H, (2001) “On the Distribution of Surplus Immediately after Ruin under Interest Force”, Insurance: Mathematics & Economics, Vol. 29, Issue 2, 247-255.
25. Yang H. & Zhang L.H., (2001) “On the Distribution of Surplus Immediately before Ruin under Interest Force”, Statistics & Probability Letters, Vol.55, Issue 3, 329-338.
26. Yang, H. and Zhang, L. (2000) Ruin Theory with Interest Income, Statistics and Finance: An Interface, p355-369, Edited by Chan, Li and Tong, Imperial College Press, London.
