Lily Fang is a Professor of Finance at INSEAD and the holder of the AXA Chair in Financial Market Risk. Lily joined INSEAD in 2003 in the Asia Campus (Singapore) and is now based in Europe (France). In 2014-2016 Lily was a Visiting Professor at the MIT Sloan School of Management where she won the Outstanding Teacher Award.

Lily’s primary research interest is financial market information and investment strategies. She has published numerous papers on the performance and incentives of financial analysts, fund managers, and financial institutions in top academic journals such as the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies. Her work on the relation between media coverage and stock returns received the prestigious Smith Breeden prize for outstanding papers published in the Journal of Finance. Professor Fang has advised a number of large institutional investors on investment strategies.