Yonggan Zhao



Related Information

Email: Yonggan.Zhao@dal.ca
Phone: 902-494-6972
Fax: 902-494-1503
Mailing Address: 
Kenneth C. Rowe Management Building
6100 University Ave, Room 2016
Halifax, Nova Scotia, Canada B3H 4R2

Research Topics:
  • Capital budgeting
  • Derivatives
  • Equity and bond markets
  • Exchange rates
  • Financial risk assessment
  • Hedging strategies



  • BA/BSc (An Hui, China)
  • MA/MSc (Western Kentucky)
  • PhD (British Columbia)

Current Teaching

  • Comm 4202 Derivatives
  • Comm 4250 Theory of Finance

Research Interests

Professor Zhao’s research interests include asset pricing and investment, Derivative securities pricing and hedging, risk management, and credit rating models. His work is interdisciplinary and collaborative. His research contributes to both theory and practice.

Selected Awards and Honours

  • 2016  SSHRC Insight Grant
  • 2010  Northern Finance Association best paper award.
  • 2009  SSHRC Research Grant
  • 2007  NSERC Research Grant
  • 2006  CFI Infrastructure Funding

Selected Publications

  • Time-consistent investment policies in Markovian markets: A case of mean–variance analysis  Chen, Z., Li, G., & Zhao, Y. Journal of Economic Dynamics and Control 40(C), 293-316  (2014)
  • Optimal excess-of-loss reinsurance and investment problem for an insurer with jump-diffusion risk process under the Heston model   Zhao, H., Rong, X, & Zhao, Y.  Insurance: Mathematics and Economics 53, 504-514 (2013)
  • How does the Fortune's Formula–Kelly Capital growth model perform? MacLean, L.C., Thorp, E., Zhao, Y., & Ziemba, W.T.  Journal of Portfolio Management 37, 96-111 (2011)
  • A dynamic model of active portfolio management with benchmark orientation  Zhao, Y.  Journal of Banking and Finance 31, 3336-3356  (2007)
  • A dynamic investment model with control on portfolio’s worst outcome Zhao, Y., Haussmann, U., & Ziemba, W.  Mathematical Finance 13, 481-501 (2003)