Qihong Ruan (阮 启宏) qr33@cornell.edu | NBER   I am on the 2024-2025 job market. I am a Ph.D. student in Economics at Cornell University. I am working on FinTech and interdisciplinary research. My research topics span FinTech, digital economy, market microstructure, asset pricing, networks, cryptocurrencies, derivatives, and incentives design. I am keen to extract economic and financial insights with state-of-the-art technologies in deep learning, econometrics, and statistics. Also, I study the economic and financial effects of disruptive technologies. Committee: Prof. Maureen O'Hara (Co-chair), Lin William Cong (Co-chair), and Eswar Prasad.

Research Papers

• Using Vision Large Models to Understand Asset Returns

  Qihong Ruan.




• Perpetual Contracts and Market Quality: Evidence from Cryptocurrencies

  Qihong Ruan, Artem Streltsov.

  Blog post.




• Inflation Expectation and Cryptocurrency Investment

  Lin William Cong, Pulak Ghosh, Jiasun Li, Qihong Ruan.

  Video.

Education

• Ph.D. in Economics, Cornell University, Expected May 2025.

• M.S. in Econometrics, Xiamen University.

• B.A. in Finance, Sun Yat-sen University.

Conferences and Presentations

• 6th UWA Blockchain and Cryptocurrency Conference, 2024

• 19th Conference on Asia-Pacific Financial Markets (CAFM), 2024

• World Finance Conference, 2024

• Cornell Finance Brown Bag, 2024

• Innovation, Entrepreneurship, and Technology Workshop, 2024

• Financial Management Association (FMA) Annual Meeting, Rising Stars of Fintech, 2024 iCoauthor Presents

• Digital Economics and Financial Technology (DEFT) Lab Group Meeting, 2024

• Cornell Economics Department Placement Week, 2024

• Cryptocurrency Research Conference, 2024

• Northern Finance Association Conference, 2024

• Ripple University Blockchain Research Initiative (UBRI), 2024

• China International Conference in Finance (CICF), 2024

• Hong Kong Conference for Fintech, AI, and Big Data in Business, 2024

• Tokenomics Conference, 2023

• IIMC-NYU Stern India Research Conference, 2023

• Ripple University Blockchain Research Initiative (UBRI), 2023

• Innovation, Entrepreneurship, and Technology Workshop, 2023

• Emerging Markets Institute - PhD Research Day, 2022

• Cornell University, The Works In Progress Seminar (TWIPS), 2022-Present

• Cornell University, Third-year Economics PhD Research Seminar, 2021-2022

• The 4th Annual Xiamen University International Workshop on Economic Analysis of Institutions, 2016

Teaching Experience

I have been a Teaching Assistant for Undergraduate, MBA, and Ph.D. courses, including:

• Introductory Macroeconomics

• Financial Markets

• Public Finance

• Probability Theory

• Experimental Economics

• Econometrics

• Econometrics and Statistics

• Advanced Econometrics

• Demystifying FinTech and Big Data

I have won the Best Teaching Assistant Award for my teaching.

Professional Experience

• Ripple XRPL Grants on AI and Blockchain, Judge, 2024.

• Cryptocurrency Research Conference, Section Chair, 2024.

• The Initiative For Cryptocurrencies & Contracts, Member, 2024. IC3: Advancing The Science And Applications Of Blockchains.

• XueShuo-DEFT Academy Summer Institute in Digital Finance in Beijing, Volunteer, 2024. Chinese Articles.

• Digital Economics and Financial Technology (DEFT) Lab, Member, 2023-present. The SEC Allegations Against Binance and Coinbase.

• Conference on Emerging Technologies in Accounting and Financial Economics (CETAFE), Volunteer, 2023.

• Cornell FinTech Initiative, Student Fellow, 2022-2023. Cornell Convenes Digital Assets Roundtable Whitepaper.

• Finance Theory Group (FTG) Annual Conference, Volunteer, 2022.

• Research Assistant on Econometrics of Evaluation-Approximation-Maximization (EAM) Algorithm, Spring 2021.

• Summer School on Applied Microeconometrics, Shanghai, 2016.

Work In Progress

I have been working on the big questions intersecting finance and technologies, and thinking about the most pressing issues of disruptive technologies on financial systems and economic society.

• Should We Throw Away All the Textbooks? The Impact of Knowledge Bases on Financial Trading Performance of Large Language Models

• General Intelligence and Information Acquisition: Redefining the Financial Efficiency Frontier

• The Battle of Hundreds of Large Language Models (百模大战)

• Pension Financing Through Elderly Healthcare Data Markets

• Transitioning TradFi, CeFi, and DeFi: The Role of Regulation and Technology

• The Impact of DEX Forkability on Cryptocurrency Market Liquidity

• Systemic Risks in Financial Networks Under Strategic Attacks: Lessons from the Terra/Luna Meltdown

• What Drives Stablecoin Interest Rates? Real Rates, Convenience Yields, and Credit Risks

• Self-Custody and Financial Contagion

• Building High-Frequency Market Measures for Chinese Financial Markets

• Machine Learning Foreign Investment Strategies in Chinese A-shares Using Daily Stock Flow and Holding Data from China Stock Connect

• Why do Foreign Investors Outperform in the Chinese A-Share Market? Insights from Shanghai-Hong Kong Stock Connect and the Market Intervention of 2015

Publication

• Does Differentiated Dividend Tax Effectively Curb Speculation?

  Qihong Ruan, Aimei Zhai

  The South China Journal of Economics (南方经济), 2015, 33(6), pp.19-39.