Biography

Dr. Fahad Ali is the Talent Level VI Assistant Professor of Finance at Zhejiang University of Finance and Economics (ZUFE) since 2021. He previously served as International Exchange Talent-Introduction Postdoctoral Fellow (博士后国际交流计划,引进项目) at Zhejiang University between 2019 and 2020. Dr. Ali started his academic career in 2014 as a PhD scholar in Finance at Zhejiang University, after completing his Bachelor's (BSc) degree in Mathematics with Statistics and Master of Business Administration (MBA) and Master of Philosophy (M Phil) in Finance. Prior to his career in academia, he worked as Assistant Manager for a leading financial institution in Pakistan (Habib Bank Limited). He received numerous scholastic distinctions and research and performance awards in his career. He has studied, worked, collaborated with numerous professors, and taught at different well-known institutions around the globe. His areas of research interest include financial economics, behavioral finance, and energy economics, with a particular focus on asset pricing and multi-country cross-asset portfolio diversification opportunities.

His equity market research covers all major financial markets, ranging from understanding market failure or replicability of well-known asset-pricing models in emerging financial markets to reexamining, augmenting, or searching parsimony in asset-pricing models in developed financial markets. His research has examined (i) US and other major developed markets; (ii) Chinese, Korean, Turkish, and other emerging markets; (iii) Pakistan, Bangladesh, and other small frontier or standalone markets; and (iv) Islamic, sustainable, and green equity markets/indices.

His financial economics works also focus on the hedge and safe-haven role of precious metals, commodities, WTI, cryptocurrencies, Tokens, and Islamic, green and sustainable crypto assets for international equity portfolios and other highly volatile risky assets. However, the broader quest is to understand how these markets connect and intra- and inter-market (so-called multi-country cross-asset) diversification can be achieved. His recent works employ high-frequency intra-day data and examine whether trading hours and information bias affect diversification benefits and channels.

His energy economics research, on the other hand, focuses on techno-economic and feasibility analyses of energy alternatives, payback period and life cycle valuations, determinants of renewable energy technology adoption, willingness to pay for renewable energy alternatives at the household level, households energy preferences, and rural development and mitigating electrification needs using financially viable choices.

Dr. Fahad Ali continues to enjoy interacting with students, researchers, colleagues, and potential collaborators from around the globe. You are welcome to connect with him if you have any questions, hitches in research or research ideas.

Contact Information

Office # 412, Building 3, School of Finance

Zhejiang University of Finance and Economics

Email:fahadali@zju.edu.cn;fahadali@zufe.edu.cn

Summary of areas of interest

·Asset pricing

·Seasonality in returns

·Commodity markets

·Cryptocurrency market

·Tokens and Stablecoins

·Green, sustainable, and Islamic crypto assets

·Alternative investments

·Portfolio diversification and optimization

·International financial markets

·Energy economics and financial development

Selected Intellectual Contributions as First/Corresponding Author

Financial Economics Domain

·Fahad AliwithAhmet Sensoy and John W. Goodell (2023). “Identifying diversifiers, hedges, and safe havens among Asia Pacific equity markets during COVID-19: New results for ongoing portfolio allocation“,International Review of Economics and Finance. (SSCI). DOI:https://doi.org/10.1016/j.iref.2023.02.015.

·Fahad Aliwith Numan Ülkü,Deniz İkizlerli, and Saidgozi Saydumarov (2023). “COVID caused a negative bubble. Who profited? Who lost? How stock markets changed?”Pacific-Basin Finance Journal. (SSCI). DOI:https://doi.org/10.1016/j.pacfin.2023.102044.

·Fahad Aliwith Elie Bouri, Nader Naifar, Syed Jawad Hussain Shahzad, and Mohammad AlAhmad (2022). “An examination of whether gold-backed Islamic cryptocurrencies are safe havens for international Islamic equity markets”,Research in International Business and Finance. (SSCI). DOI:https://doi.org/10.1016/j.ribaf.2022.101768.

·Fahad Ali(2022). “Testing Mispricing Augmented Factor Models in an Emerging Market: A Quest for parsimony”,Borsa İstanbul Review(SSCI). DOI:https://doi.org/10.1016/j.bir.2021.05.002.

·Fahad Ali*with Numan Ülkü (2021). “Quest for a parsimonious factor model in the wake of quality-minus-junk, misvaluation and Fama-French-six factors”,Finance Research Letters(SSCI).https://doi.org/10.1016/j.frl.2020.101847.

·Fahad Aliwith YueXiang Jiang and Ahmet Sensoy (2021). “Downside risk in Dow Jones Islamic equity indices: Precious metals and portfolio diversification before and after the COVID-19 bear market”,Research in International Business and Finance(SSCI). DOI:https://doi.org/10.1016/j.ribaf.2021.101502.

·Fahad Aliwith Muhammad Usman Khurram and YueXiang Jiang (2021). “The Five-Factor Asset Pricing Model Tests and Profitability and Investment Premiums: Evidence from Pakistan”,Emerging Market Finance and Trade(SSCI).https://doi.org/10.1080/1540496X.2019.1650738.

·Fahad Ali* with Muhammad Usman Khurram, YueXiang Jiang, and Wenwu Xie (2021). “Predictability of Extreme Daily Returns and Preferences for Lottery-Like Stocks in an Emerging Market”,Economic Research-Ekonomska Istraživanja(SSCI). DOI:https://doi.org/10.1080/1331677X.2021.1965000.

·Fahad Aliwith Numan Ülkü (2020). “Weekday Seasonality of Stock Returns: The Contrary Case of China”,Journal of Asian Economics(SSCI). DOI:https://doi.org/10.1016/j.asieco.2020.101201.

·Fahad Aliwith Numan Ülkü (2019). “Monday Effect in the RMW and the Short-Term Reversal Factors”,International Review of Finance(SSCI). DOI:https://doi.org/10.1111/irfi.12185.

·Fahad Aliwith RongRong He and YueXiang Jiang (2018). “Size, Value and Business Cycle Variables, the Three-Factor Model and Future Economic Growth: Evidence from an Emerging Market”,Economies. (ESCI/SSCI). DOI:https://doi.org/10.3390/economies6010014.

Energy- and Development-Economics Domain

·Fahad Aliwith Yumna Ashraf (2022). “How innovative organization culture affects firm performance in the wake of enterprise resource planning? evidence from energy- and non-energy-sector firms in Pakistan”,Frontiers in Environmental Science. (SCI/SCIE). DOI:https://doi.org/10.3389/fenvs.2022.991319

·Fahad Aliwith Muhammad Ahmar, Yuexiang Jiang, Yichu Wang, and Kashif Iqbal (2022). “Determinants of Adoption and the Type of Solar PV Technology Adopted in Rural Pakistan”,Frontiers in Environmental Science(SCI/SCIE). DOI:https://doi.org/10.3389/fenvs.2022.895622.

·Fahad Aliwith Yuexiang Jiang, Mamdooh Alwetaishi, and Sherif SM Ghoneim (2022), “Households’ Energy Choices in Rural Pakistan”,Energies(SCI/SCIE).https://doi.org/10.3390/en15093149.

·Fahad Aliwith Muhammad Ahmar, YueXinag Jiang, and Mohammad Alahmad (2021). “A Techno-economic Assessment of Hybrid Energy Systems in Rural Pakistan”,Energy(SCI/SCIE). DOI:https://doi.org/10.1016/j.energy.2020.119103.

Work-in-progress

·Fahad Aliwith Muhammad Usman Khurram, Ahmet Sensoy, and Xuan Vinh Vo (Under Review). Portfolio diversification in the era of greener paths: Can green (energy-efficient) cryptocurrencies provide any diversification benefits to investors?

·Fahad Aliwith Muhammad Usman Khurram and Ahmet Sensoy (Under Review). Safe havens for Bitcoin and Ethereum: Evidence from high- frequency data.

·Fahad Aliwith Muhammad Usman Khurram and Ahmet Sensoy (Completed). Information prejudice and its spillover on return volatility in Asia-Pacific equity markets.

·Fahad Aliwith Muhammad Usman Khurram, Ahmet Sensoy, and Brian M. Lucy (Completed). Information bias, its spillover, and return and volatility connectedness in CFDs on equities and cryptocurrencies: Evidence from high-frequency cross-country cross-market data.

·Fahad Ali* with Muhammad Usman Khurram (completed). Idiosyncratic volatility, lottery bans, and abnormal- and anomalous-returns: A unique experiment.

·Fahad Aliwith Muhammad Usman Khurram (Completed). The MAX anomaly – stocks as lotteries and the cross-section of expected returns on Shari’ah-compliant stocks – A natural experiment.

·Fahad Ali(Completed). Financing-Based Risk, Stock Returns and the IMR (Issues-Minus-Repurchases) Factor in China.

·Fahad Ali(First Draft). Which factors? Which models? A Quest for Parsimony in factor models using a blend of Machine Learning-, Bayesian-, and pairwise Sharp ratio-based methods.

·Fahad Aliwith Numan Ülkü (First Draft). Who drives stock market bubbles?

Conferences, Presentations, and Proceedings

·Fintech for the Future, Ghent University Conference by Future Finance and Economics Association (FFEA); Apr 13-14, 2023. Ghent,Belgium.

·Allied Social Science Association (ASSA) Meeting by American Economic Association (AEA):https://www.aeaweb.org/conference/2021/preliminary/1699?q=eNqrVipOLS7OzM8LqSxIVbKqhnGVrAxrawGlCArI; Jan 3-5, 2021. Chicago,USA.

·3rd Research in Economics and Social Sciences, Shiga University (RESSU) Conference:https://www.econ.shiga-u.ac.jp/risk/3.Fahad%20Ali.pdf; Nov 28-29, 2019. Hikone,Japan.

·Asian Economic Community Forum (AECF); Nov 6-9, 2019. Incheon,Korea.

·IEEE International Conference on Industrial Engineering and Engineering Management (IEEM), DOI:https://doi.org/10.1109/IEEM.2017.8289909; Dec 10-13, 2017. Suntech City,Singapore.

·International Finance and Banking Society (IFABS) Conference; Jun 27-29, 2015. Hangzhou,China.

Memberships

·Institute of Cost & Management Accountants of Pakistan, ICMAP.

·Society for the Study of Emerging Markets.

·American Economic Association, via ASSA annual meeting.

·Korean Society for Comparative Economics, via AEC Forum.

Awards, Grants, Funds, and Scholastic Distinctions

·Research Startup Grant, Zhejiang University of Finance and Economics, China, January 2021.

·Postdoctoral Science Foundation Fund, [No.2019M66209], China, January 2020.

·Honorarium and Travel Grant from the Asian Economic Community Forum (AECF), Korea, November 2019.

·Honorarium and Travel Grant from the Research in Economics and Social Science Shiga University (RESSU), Japan, November 2019.

·International Exchange Talent-Introduction (博士后国际交流计划,引进项目) Postdoctoral Fund, Office of China Postdoc Centre (OCPC), [No. YJ20180207], China, December 2018.

·Research and Travel grants by the College of Economics, Zhejiang University, to attend an academic conference (IEEE IEEM) in Singapore, 9-14 December 2017.

·Higher Education Commission (HEC) Pakistan’s fully funded scholarship to pursue PhD abroad, [HEC SAP# 50023064], 2014-2018.

·The Prime Minister of Pakistan’s Merit-Based Scholarship to pursue Master of Philosophy (majored Finance), 2013-2014.

·Frontier Education Foundation’s (FEF) Merit-Based Scholarship to pursue Master of Business Administration (majored Finance), 2007-2009.

Professional Services:

Serving as a referee for more than 30 peer-reviewed SCI/SSCIE/ESCI journals, including the following reputed academic journals: Applied Economics; Applied Economics Letters; Borsa Istanbul Review; Economic Modelling; Emerging Markets Finance & Trade; Energy; International Review of Economics and Finance; PLOS ONE; Renewable and Sustainable Energy Reviews; Research in International Business and Finance; Sustainability; The Investment Analysts Journal.

I have reviewed 200+ manuscripts and was nominated as the best (excellent) reviewer in 2022 by the Journal of Risk and Financial Management (Clean Energy).

Other Pages

GS:https://scholar.google.com/citations?user=ZaiPDMYAAAAJ&hl=en

ORCID:https://orcid.org/0000-0002-0785-0281

RG:https://www.researchgate.net/profile/Fahad-Ali-65