Who Goes Green: Reducing Mutual Fund Emissions and Its Consequences
Journal of Banking and Finance, 2021.

Foreign ownership and corporate environmental responsibility
Journal of Business Research, 2026.
This paper provides a detailed analysis of the pathways through which foreign investors enter Chinese firms and the key mechanisms through which they influence corporate environmental performance. Although this research question may not appear particularly fashionable, it represents a classic topic revisited with new insights. I have devoted a tremendous amount of effort to this study, and I strongly recommend this paper.

Foreign institutional investors’ certification and domestic minority shareholders’ mistrust
Financial Management, 2024.
Online Appendix: Upon Request

Foreign ownership and corporate excess perks
Journal of International Business Studies, 2021.
Data: https://sites.google.com/view/yong-li-selected-works/home

Foreign institutional ownership and liquidity commonality around the world
Journal of Corporate Finance, 2018.

A general approach to smooth and convex portfolio optimization using lower partial moments
Journal of Banking and Finance, 2021.

Index tracking model, downside risk and non-parametric kernel estimation
Journal of Economic Dynamics and Control, 2018.