Associate Professor
Xuhu WAN
Business Statistics
Associate Professor
imwan@ust.hk
Xuhu WAN

Research Interests

  • Dynamic inventive in contract design
  • Financial contracts
  • Private equity investment
  • Financial Engineering

Academic Qualification

  • PhD 2005 University of Southern California, Financial Math
  • M.Sc. 2003 University of Southern California, Statistics
  • M.Sc. 2000 Shanghai Institute of Materia Medica,CAS, Pharmacology
  • B.Sc. 1997  Nanjing University, Biology

Academic And Professional Experience

  • Associate Professor of ISOM, Hong Kong University of Science and Technology (HKUST), July 2012 - present
  • Assistant Professor of ISOM, Hong Kong University of Science and Technology (HKUST), July 2005 - June 2012

Selected Publications

  • Sung, J., and Wan, X., "A General Equilibrium Model of a Multi-Firm Moral-Hazard Economy with Financial Markets", Mathematical Finance, 25, 4, 2015, 827-868
  • Cvitanic, J., and Wan, X., "Dynamics of Contract Design with Screening",Management Science, 59, 5, 2013, 1229-1244
  • Ju, N., and Wan, X., "Optimal Compensation and Pay-Performance Sensitivity in a Continuous-Time Principal-Agent Model", Management Science, 58, 3, 2012, 641-657
  • Goukasian, L., and Wan, X., "Optimal Incentive Contracts Under Relative Income Concerns",Mathematics and Financial Economics, 4, 1, 2010, 57-86
  • Cvitanic, J., Wan, X., and Zhang, J., "Optimal Compensation  with Hidden Action and Lump-Sum Payment in a Continuous-time Model", Applied Mathematics and Optimization, 59, 1, 2009, 99-146
  • Cvitanic, J., Wan, X., and Zhang, J., "Principal-Agent Problems with Exit Options", The B.E. Journal of Theoretical Economics, 8, 1, 2008, Article 23
  • Cvitanic, J., Wan, X., and Zhang, J., "Optimal Contracts in Continuous-time Models", *J. of Applied Mathematics and Stochastic Analysis*, 2006, Article ID 95203

Working Papers

  • "Continuous-time Delegated Investment Under Adverse Selection", revise and resubmit at Review of Financial Studies (Nengjiu Ju)
  • "Multiple-Player Games in Continuous Time with Imperfect Monitoring," revise and resubmit at Review of Economics Studies ( Jaksa Cvitanic)
  • "Dynamic Agency, Costly Project Search and Repeated Private Shocks", 3rd round revision at Management Science
  • "Dynamic Partnership Game",  in revision
  • "Equilibrium Equity Premium, Interest Rate and the Cost of Capital in a Moral-Hazard Economy", in revision (Jaeyoung Sung)
  • "Dynamic Agency Model with Finite Horizon", in revision  (Huali Yang)

Honors And Awards

  • General Research Fund, 2009-2012 (PI). Project number: GRF 620909 ,  grant amount HK$582,156
  • University Grant Council – School-based Initiatives, 2007-2009, (co-PI) . Project number:  SBI06/07.BM13,  grant amount  HK$148,000
  • HKUST direct allocation grant, 2006-2007 (PI). Project number: DAG05/06.BM28, grant amount HK$90,000