Projects per year
Personal profile
Personal profile
Dr Xinfeng (Edwin) Ruan (阮鑫丰) is a Senior Associate Professor of Finance and a Distinguished Professor of Jiangsu Province (江苏省特聘教授) at the International Business School Suzhou (IBSS), Xi'an Jiaotong-Liverpool University (XJTLU). He earned his PhD in Finance from the University of Otago in 2017 and an MSc in Operations Research and Management from the Southwestern University of Finance and Economics (SWUFE) in 2014. Prior to joining XJTLU, Edwin was a Lecturer and Senior Lecturer at the University of Otago (2019–2023) and a Postdoctoral Research Fellow at the Auckland University of Technology (2018–2019).
Edwin’s research interests mainly focus on asset pricing and derivatives, both in theoretical and empirical domains. He has extensive research experience in these areas and has published more than 40 papers in highly regarded, peer-reviewed journals, such as the Journal of Financial Markets, Journal of Economic Dynamics and Control, and Journal of Futures Markets. His academic contributions earned him the Otago Business School Best Emerging Researcher Award in 2019, alongside several best paper awards at prestigious national and international conferences.
Edwin actively welcomes applications from prospective PhD students with a genuine passion for asset pricing and derivatives. Candidates with strong programming skills (e.g., Python, MATLAB, R, SAS, and Stata) are highly encouraged to apply.
Research interests
Asset Pricing and Derivatives
Experience
Senior Associate Professor of Finance, Xian Jiaotong-Liverpool University - 2023-present
Senior Lecturer in Finance, University of Otago - 2022-2023
Lecturer in Finance, University of Otago - 2019-2022
Postdoctoral Research Fellow, Auckland University of Technology - 2018-2019
Teaching
FIN303 Financial Risk Management (2023-present, S2, XJTLU)
FIN403 Quantitative Methods for Finance (2023-present, S1, XJTLU)
FINC299 Fundamentals of Quantitative Finance (2022, S2, University of Otago)
FINC403 Studies in Capital Markets (2022, S1, University of Otago)
FINC310 Fixed Income Security Analysis (2019-2021, S2, University of Otago)
FINC412 Financial Analytics (2019-2021, S2, University of Otago)
FINC306 Derivatives (2017, S2, University of Otago)
FINC405 Mathematical Finance (2017, S2, University of Otago)
Awards and honours
2025, 14th International Conference on Futures and Other Derivatives Best Paper Award
2025, 4th Quantitative Finance and Risk Management Forum Best Paper Award
2024, 23rd China Financial Engineering Annual Conference Outstanding Paper Third Prize
2024, International Conference on Climate and Energy Finance Best Paper Award
2023, Talent Program Award of Distinguished Professor of Jiangsu Province (江苏省特聘教授)
2019, Otago Business School Best Emerging Researcher Award
Related documents
Education/Academic qualification
PhD, University of Otago - 2017
MSc, Southwestern University of Finance and Economics - 2014
Research areas
- Asset Pricing and Derivatives
Keywords
- HG Finance
- Options
- Implied volatility
- Return predictability
Person Types
- Staff
Expertise related to UN Sustainable Development Goals
In 2015, UN member states agreed to 17 global Sustainable Development Goals (SDGs) to end poverty, protect the planet and ensure prosperity for all. This person’s work contributes towards the following SDG(s):
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SDG 8 Decent Work and Economic Growth
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Collaborations and top research areas from the last five years
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Research on Practical Pathways for AI-Empowered Digital and Intelligent Transformation of Middle- and Back-Office Management in Futures Companies
Li, W. (PI), Gong, S. (CoPI), Ruan, E. (CoPI) & Zhai, J. (CoPI)
20/07/26 → 30/10/26
Project: Collaborative Research Project
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Comparative theoretical study and empirical analysis of realized volatility and skewness
Ruan, E. (PI)
1/01/24 → 31/12/26
Project: Internal Research Project
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Project on Asymmetric Risk Identification in Futures and Derivatives Markets and Capability Building for Hedging Applications
Li, W. (CoPI), Gong, S. (CoPI), Zhai, J. (CoPI) & Ruan, E. (CoPI)
1/08/26 → 30/11/26
Project: Governmental Research Project
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A Convolutional-Based Heterogeneous Autoregressive Model for Implied Volatility Surface Forecasting
Gong, Z., Huang, W. & Ruan, X., Feb 2026, In: Journal of Derivatives. 33, 3, p. 46-73Research output: Contribution to journal › Article › peer-review
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Predicting Market Returns Using Covariance Asymmetry Risk Premium
Li, Z., Ruan, X. & Yao, X., Feb 2026, In: Journal of Futures Markets. 46, 2, p. 435-462 28 p.Research output: Contribution to journal › Article › peer-review
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Sentiment and uncertainty: Evidence from China
Lei, X., Huang, J. & Ruan, X., Feb 2026, In: Pacific Basin Finance Journal. 96Research output: Contribution to journal › Article › peer-review
1 Citation (Scopus) -
The Rare Disaster Concern Index: RIX
Li, W., Zhang, J. E., Ruan, X. & Aschakulporn, P., Jun 2026, In: Global Finance Journal. 69, 101226.Research output: Contribution to journal › Article › peer-review
Open Access -
Inferring jump dynamics from weekly options: A non-parametric method
Zhang, J. & Ruan, X., Apr 2025, In: Finance Research Letters. 76, 106965.Research output: Contribution to journal › Article › peer-review
1 Citation (Scopus)
Activities
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A Comprehensive Analysis of Realized Skewness Trading
Ruan, X. (Speaker)
22 Jun 2026Activity: Talk or presentation › Invited talk
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Journal of Futures Markets (Journal)
Ruan, X. (Reviewer)
Jun 2026Activity: Peer-review and editorial work of publications › Editorial work
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Energy Economics (Journal)
Ruan, X. (Reviewer)
Jun 2026Activity: Peer-review and editorial work of publications › Editorial work
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Finance Research Letters (Journal)
Ruan, X. (Reviewer)
27 May 2026Activity: Peer-review and editorial work of publications › Editorial work
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Journal of Futures Markets (Journal)
Ruan, X. (Reviewer)
May 2026Activity: Peer-review and editorial work of publications › Editorial work