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Personal profile

Personal profile


Ph.D in Finance (University of Exeter, UK)

Talent Programme

Ningbo Leading Talent Programme (“宁波市领军和拔尖人才培养工程”)

Professional Organizations

Securities Association of China (中国证券业协会,证券基金从业资格)

Ningbo Federation of Social Science Associations (宁波社科联,理事)


Dr. XiaoGang Bi is the Associate Professor in Finance at Nottingham University Business School (China), and research fellow in the Centre for Global Finance (GFC). Previously he worked in the Centre for Finance and Investment (Xfi) at University of Exeter (UK).

Dr. XiaoGang Bi obtained his PhD degree from the University of Exeter Business School (UK). Dr.Bi’s research focuses on the area of mergers & acquisitions, institutional investors and managerial teams. He has published in leading national and international financial journals, and acts as a Principle Investigator for a Provincial Natural Science Funding project. His research has also been featured in the practitioner press, namely Financial Times (Chinese), Financial Times Investment Advisor, China Business Journal, and Journal of Investor Relations. 

Dr. Bi also has rich industry experience, and works closely with securities companies and asset management companies in China on various consulting projects, especially on Chinese SME’s private placement bond issuing, asset backed security (ABS), IPO and mergers & acquisitions. Dr. Bi and his team also focus on quantitative trading strategies, as well as big data/ AI and its applications in corporate finance.

Research Interests

  • Mergers & Acquisitions
  • Financial Advisors
  • Institutional Investors
  • Managerial Teams
  • Corporate Finance
  • Machine Learning/ AI and its application in Corporate Finance

Professional Information


  1. Software copyright: AI-driven Investment Banking Decision System, 2021, Copyright Protect Center of China (中国版权保护中心)

Best Paper Awards

  1. "Make a promise: valuation adjustment mechnasim in Chinese Mergers & Acquisitions", Paper presented at the 2018 Chinese Academy of Management Annual Meeting, November 3-4, Hangzhou, China.
  2. "The value of financial advisors in private acquisitons: new evidence from Chinese M&As", Paper presented at the 2017 Asian Finance Association Conference, July 6-8, Seoul, Korea.
  3. "Expropriation and Chinese Mergers & Acquisitions", Paper presented at the 2016 Chinese Academy of Management Annual Meeting (中国管理学年会), September 28-30, Harbin Institute of Technology, Harbin, China.

Practioner Journal Publications (Media Coverage)

  1. Bi, X.G., "Valuation adjustment mechansim in Chinese acquisitions" Financial Times (金融时报,中文版), April 05, 2017.
  2. Bi, X.G., "In-house investment banking in China" Financial Times (金融时报,中文版), December 14, 2015.
  3. Bi, X.G., (with Q.P. MA), "Why past performance is a guide to future results", Financial Times Investment Advisor, February 06, 2012.
  4. Bi, X.G., (with Zeidan, R., Boateng, A.). "Chinese corporate governance", Journal of Investors Relations, November, 2011.
  5. Bi, X.G., "A good time to buy? Mergers and acquisitions for Chinese companies", China Business Journal (中国经营报), November 24, 2008.

Books and Monographs:

  1. Bi, X.G., (2010) "Stock market driven acquisitions - evidenc from UK M&A market", LAP Lambert Academic Publishing AG & Co.KG. ISBN: 9783838387451.

Book Contributions:

  1. Bi, X.G.,(2015), "PE/VC and maritime economy", in Y.M., ZHANG[Eds.], Maritime Economy and Strategy of Investment and Financing, Vol 1, China Finance Publisher, pp329-348. ISBN: 9787504977113.
  2. Bi, X.G., (2011), "Asymmetric volatility, a behavioural explanation of Chinese Stock Market", in Q.P.MA [Eds.], Private Capital and Road to Developed Economy, Vol.1, Economic Science Press, pp222-249. ISBN: 9787514106688.
  3. Bi, X.G., (with Zeidan, R., Boateng, A.), (2011) "Corporate governance in family business in China: challenges and opportunities", in Joaquim Rubens FontesFilhoo; Ricardo Pereira Camara Leal. [Eds.], Corporate Governance in Family Business, 1st ed. New York: Saint Paul, Vol 1, pp233-242, ISBN: 9788580040470.



  • Financial Management
  • Computational Finance
  • Corporate Finance


  • Capital Market Analysis
  • Advanced Corporate Finance (PhD module)
  • Developing Management Research (PhD module)

Person Types

  • Staff