 | Lu Bin | INSTITUTE OF ECONOMICS
AND FINANCE | | Nanjing Audit University | Associate Professor
Master’s Supervisor | | | OFFICE | | Room 907, Mochou Zonghe Building, Mochou Campus | | PHONE | | +86-25-5819-1823 | | EMAIL | | b_lu@nau.edu.cn | | ADDRESS | | 77 Beiwei Road, Nanjing, China | | ZIP CODE | | 210029 |
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| | Ph.D. from The Chinese University of Hong Kong; Associate Professor and Master’s Supervisor at Nanjing Audit University; Director of the Anti-Money Laundering Research Center, Nanjing Audit University; concurrently Vice President of the Jiangsu Zijin Industrial Finance Development Research Institute; Industrial Professor (Third Batch) of Jiangsu Province; Independent Director of Chang Hwa Commercial Bank Co., Ltd.; Consulting and Review Expert of the Jiangsu Provincial Development and Reform Commission. | | Formerly Research Associate at The Chinese University of Hong Kong; Lecturer and Associate Professor at Nanjing University of Finance and Economics; Independent Director of Shandong Gold Mining Co., Ltd. (600547, 01787.HK); Supervisor of Chang Hwa Commercial Bank Co., Ltd.; member of the Financial Audit Teaching and Research Section, Audit Cadre Education College, National Audit Office. | | His research mainly focuses on theoretical and empirical research in financial econometrics, exchange rates, commodity markets, and household finance. He has published more than 40 papers in journals such as Journal of Empirical Finance, Pacific-Basin Finance Journal, Quantitative Finance, Reviews of Futures Markets, Economic Research Journal, and China Economic Quarterly, and has published books including Research on Dynamic Adjustment of Capital Structure of Chinese Listed Companies and Research on the Financial Service Outsourcing Ecosystem. |
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| 2004.12 | Ph.D. in Statistics · The Chinese University of Hong Kong | | 2001.04 | M.Sc. in Applied Mathematics · Southeast University | | 1998.07 | B.Sc. in Mathematics · Anhui Normal University |
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| Financial Econometrics Pricing Theory Corporate Finance |
| Financial Risk Management |
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| Aug 2018 – Present | Vice President · Jiangsu Zijin Industrial Finance Development Research Institute | | Sep 2024 – Present | Independent Director · Chang Hwa Commercial Bank Co., Ltd. | | Sep 2018 – Aug 2024 | Supervisor · Chang Hwa Commercial Bank Co., Ltd. | | Apr 2016 – Present | Associate Professor · Institute of Economics and Finance, Nanjing Audit University
Director · Anti-Money Laundering Research Center, Nanjing Audit University | | Oct 2012 – Jan 2016 | Chairman · Jiangsu Kunshan Huaqiao International Business City Service Outsourcing Equity Investment Co., Ltd. | | Sep 2010 – Mar 2016 | Assistant to the Director of the Management Committee · Jiangsu Kunshan Huaqiao Economic Development Zone
Director · Economic Development Bureau | | Jun 2012 – Apr 2013 | Deputy General Manager · Nanjing University of Finance and Economics Science Park Co., Ltd. | | Jul 2007 – Mar 2013 | Associate Professor · Nanjing University of Finance and Economics | | Dec 2004 – Jan 2006 | Research Associate · The Chinese University of Hong Kong | | Dec 2004 – Jun 2007 | Lecturer · Nanjing University of Finance and Economics | | Jun 2001 – Nov 2004 | Teaching Assistant · Anhui University |
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| 01 | Bin Lu, Lijie Xie, Xiangyun Xu, and Cong Yu. (2026). From Macroeconomic Uncertainty to FX Returns: The Role of Realized Volatility in Shaping Risk-Return Dynamics. Review of International Economics. Vol. 34(1), 243–261. | | 02 | Shuangcan Xiong, Yemao Xia, and Bin Lu. Bayesian Analysis of Two-Part Latent Variable Model with Mixed Data. Communications in Mathematics and Statistics. (2023). https://doi.org/10.1007/s40304-023-00359-1 | | 03 | Bofan Liu, Bin Lu. (2023). Can Financial Literacy Be a Substitute for Financial Advisers? Evidence from China. Pacific-Basin Finance Journal. Vol. 79, 102046. | | 04 | Lu Bin, Yang Yue, Yang Yanlin, Zhang Yi. (2023). Research on Money Laundering Risk Management of Commercial Banks in the Context of Digital Transformation. Anti-Money Laundering Research, 2023, Vol. 1. | | 05 | Qi Yang, Haijin He, Bin Lu, and Xinyuan Song. (2022). Mixture Additive Hazards Cure Model with Latent Variables: Application to Corporate Default Data. Computational Statistics and Data Analysis. Vol. 167. | | 06 | Qilong Cao, Bin Lu. (2021). Mediating and Moderating Effects of Loneliness Between Social Support and Life Satisfaction Among Empty Nesters in China. Current Psychology. Vol. 40 (2021), 973–982. http://doi.org/10.1007/s12144-018-0019-0 | | 07 | Xia, Y. M., Lu, B., and Tang, N. S. (2019). Inference on Two-Part Latent Variable Analysis Model with Multivariate Longitudinal Data. Structural Equation Modeling: A Multidisciplinary Journal. Vol. 26(5), 685–709. | | 08 | Ma Shuang, Wu Xi, Lu Bin. (2019). Government Tax Reduction, Corporate Tax Burden, and Corporate Vitality. China Economic Quarterly, Vol. 18, No. 2, 483–504. | | 09 | Feng, X. N., Lu, B., Song, X. Y., and Ma, S. (2019). Financial Literacy and Household Finances: A Bayesian Two-Part Latent Variable Modeling Approach. Journal of Empirical Finance, Vol. 51, 119–137. | | 10 | Feng, X. N., Wang, Y. F., Lu, B., and Song, X. Y. (2017). Bayesian Regularized Quantile Structural Equation Models. Journal of Multivariate Analysis, Vol. 154, 234–248. | | 11 | Li, X. D., Feng, X. N., Lu, B., and Song, X. Y. (2015). The Determinants of Capital Structure Choice for Chinese Listed Companies Based on Structural Equation Modeling Approach. In Structural Equation Modeling (SEM): Concepts, Applications and Misconceptions, Nova Science Publishers. | | 12 | Lu Bin, Cao Qilong, Liu Yan. (2014). Financing Constraints, Product Market Competition, and Dynamic Adjustment of Capital Structure. Industrial Economics Research, No. 3, 91–100. | | 13 | Lu Bin, Cao Qilong, Dang Jianbing. (2014). Macroeconomic Factors and Capital Structure of Chinese Listed Banks: An Empirical Analysis Based on Unbalanced Panel Data. Journal of Applied Statistics and Management, Vol. 33(1), 106–115. | | 14 | Lu Bin, Jia Xiaoqiang. (2013). Venture Capital and Financing Decisions of Listed Companies. Finance and Accounting Monthly, No. 5 (Part 2), 21–24. | | 15 | Dang Jianbing, Lu Bin, Cao Qilong. (2013). Is the Speed of Capital Structure Adjustment the Same for Firms with Different Debt Levels? Industrial Economics Research, No. 3, 64–73. | | 16 | Lu Bin, Chen Zhiyuan. (2012). Application of a Behavioral Statistical Arbitrage Model in China’s Stock Market. Journal of Nanjing Forestry University (Humanities and Social Sciences Edition), No. 2, 87–93. | | 17 | Lu Bin, Gao Binyue. (2012). The Impact of Market Timing and Target Capital Structure on Listed Companies’ Capital Structure: An Empirical Study Based on Chinese Listed Companies. South China Journal of Economics, Vol. 30(1), 39–46. | | 18 | Bin Lu, Xin-Yuan Song, Xin-Dan Li. (2012). Bayesian Analysis of Multi-Group Nonlinear Structural Equation Models with Application to Behavioral Finance. Quantitative Finance. Vol. 12, 477–488. | | 19 | Lu Bin, Hua Renhai. (2010). Liquidity in China’s Futures Market Based on the MCMC Method. Journal of Management Sciences in China, Vol. 13(9), 98–106. Full-text reprinted in Renmin University of China’s Replicated Journals. | | 20 | Renhai Hua, Bin Lu, Baizhu Chen. (2010). Price Discovery Process in the Copper Markets: Is Shanghai Futures Market Relevant? Reviews of Futures Markets. Vol. 18. | | 21 | Lu Bin, Liu Meng. (2009). An Empirical Study on Changes in Market Value at Risk Before and After the Split-Share Structure Reform. Statistics & Decision, No. 3, 124–126. | | 22 | Lu Bin, Zheng Lili. (2009). An Empirical Analysis of Determinants of Capital Structure of Chinese Commercial Banks. Journal of Nanjing University of Finance and Economics, No. 4, 35–39. | | 23 | Lu Bin, Wang Xia. (2008). A Behavioral Finance Explanation of Volatility Asymmetry in China’s Stock Market. Journal of Nanjing University of Finance and Economics, No. 6, 36–41. | | 24 | Hua Renhai, Lu Bin, Liu Qingfu. (2008). International Pricing Function of China’s Copper Futures Market. The Journal of Quantitative & Technological Economics, Vol. 25(8), 83–93. | | 25 | Li Xindan, Song Surong, Lu Bin, Zha Xiaolei. (2008). Behavioral Motivations of Insider Trading in the Securities Market. Economic Research Journal, No. 10, 65–79. | | 26 | Sik-Yum Lee, Bin Lu, Xin-Yuan Song. (2008). Semiparametric Bayesian Analysis of Structural Equation Models with Fixed Covariates. Statistics in Medicine, Vol. 27, 2341–2360. | | 27 | Bin Lu, Xin-Yuan Song, Sik-Yum Lee, Fernand Mac-Moune Lai. (2007). Local Influence Analysis for Latent Variable Models with Non-ignorable Missing Responses. In Handbook of Latent Variable and Related Models, in Series HANDBOOK OF COMPUTING AND STATISTICS WITH APPLICATIONS. | | 28 | Sik-Yum Lee, Xin-Yuan Song, Bin Lu. (2007). Discriminant Analysis Using Mixed Continuous Dichotomous and Ordered Categorical Variables. Multivariate Behavioral Research. Vol. 42, 631–645. | | 29 | Sik-Yum Lee, Bin Lu, Xin-Yuan Song. (2006). Assessing Local Influence for Nonlinear Structural Equation Models with Ignorable Missing Data. Computational Statistics and Data Analysis. Vol. 50, 1356–1377. | | 30 | Bin Lu, Xin-Yuan Song. (2006). Local Influence Analysis for Multivariate Probit Latent Variable Models. Journal of Multivariate Analysis. Vol. 97, 1783–1798. | | 31 | Sik-Yum Lee, Bin Lu. (2003). Case-Deletion Diagnostics for Nonlinear Structural Equation Models. Multivariate Behavioral Research. Vol. 38, 375–400. |
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| 01 | Lu Bin, Cao Qilong. Research on Dynamic Adjustment of Capital Structure of Chinese Listed Companies. China Financial Publishing House, 2012. | | 02 | Shen Huafei, Lu Bin, Yan Haifeng, Gu Zhirong, et al. Research on the Financial Service Outsourcing Ecosystem. China Financial Publishing House, 2012. | | 03 | Lu Bin et al. Research Report on the Development of Modern Service Industry in Huaqiao, Kunshan (2013). China Financial Publishing House, 2014. | | 04 | Ding Can, Lu Bin. Look-Through Intelligent Risk Control: An Anti-Money Laundering Governance Framework in the AI Era. Manuscript. |
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