杨晓光 男 汉族 博导 数学与系统科学研究院
Telephone: 62651380
Address: Academy of Mathematics and Systems Science,CAS
Postcode: 100190


Ph.D: Tsinghua University,Operations Research,1993

B.S.: Tsinghua University,Applied Mathematics,1986


2005-     Professor,University of Chinese Academy of Sciences(CAS)

2012-2022  Deputy Director,Institute of Systems Science,CAS

2009-2019  Director,Key Laboratory of Management Decision and Information System,CAS

2011-2015  Dean,School of Business,China University of Petroleum

1998-2009  Deputy Director,Key Laboratory of Management Decision and Information System,CAS

1995-2005  Associate Professor,CAS

1995  Assistant Professor,CAS

1993-1995  Postdoctor,CAS

1986-1988  Teaching Assistant,Department of Mathematics,Anhui University

Honors & Distinctions

1.National Excellent Science and Technology Worker

2.Fudan Management Outstanding Contribution Award

3.Fellow of Operations Research Society of China

4.China Youth Science and Technology Award

5.National Outstanding Youth Fund

6.Special Contribution Expert of the State Council

7.National Talent of Million Project

8.Education First Prize of Ministry of Science and Technology Progress Award

9.First Prize of Beijing Science and Technology Award

10.Second Prize of Hunan Provincial Natural Science Award

11.Second Prize of Hunan Provincial Science and Technology Progress Award

12.Second Prize of Xinjiang Science and Technology Award

13.Mao Yisheng Youth Science and Technology Award

Selected Publications

1.Kailin Ding, Zhenyu Cui and Xiaoguang Yang, Pricing arithmetic Asian and Amerasian options: A diffusion operator integral expansion approach,The Journal of Futures Markets, DOI: 10.1002/fut.22387, 2022

2.Nan Li,Muzi Chen,Haoyu Gao,Difang Huang,Xiaoguang Yang,Impact of Lockdown and Government Subsidies on Rural Households at Early COVID-19 Pandemic in China, China Agricultural Economic Review,2022, Vol. ahead-of-print No. ahead-of-print.

3.Zhigang Cao, Guopeng Li, Zhibin Tan, Xiaoguang Yang, On Group Structures of Strategic-form Games, Fundamental Research, 2022

4.Haoyu Gao,Wei Liu,Chaoqun Ma,Xiaoguang Yang,Institutional Selling and Crash Risk:The Role of Predominant Information,Journal of Management Science,2022,25(01):64-80

5. Yuxiang Cheng,Jiayu Yi,Xiaoguang Yang,Kin Keung Lai,Luis Seco,A CEEMD-ARIMA-SVM model with structural breaks to forecast the crude oil prices linked with extreme events,Soft Computing,,published online, 06 July, 2022

6.Chuangxia Huang,Yunke Deng, Xin Yang,Xiaoguang Yang, Jinde Cao, Can financial crisis be detected? Laplacian energy measure, June 2022 European Journal of Finance, DOI: 10.1080/1351847X.2022.2091946

7.Chuangxia Huang, Shijie Liu, Xiaoguang Yang & Xin Yang, 2022,Identification of crisis in the Chinese stock market based on complex network, Applied Economics Letters, DOI: 10.1080/13504851.2022.2099792

8.YongJiang,Yi-Shuai Ren, Seema Narayan, Chao-Qun Ma, Xiao-Guang Yang,  Heterogeneity dependence between oil prices and exchange rate: Evidence from a parametric test of Granger causality in quantiles, The North American Journal of Economics and Finance, Available online 9 June 2022, 101711,

9.Yi-Shuai Ren, Yong Jiang, Seema Narayan, Chao-Qun Ma, Xiao-Guang YangMarketisation and rural energy poverty: Evidence from provincial panel data in China, Energy Economics,2022(111):106073,

10.Haoyu Gao, Hong Ru and Xiaoguang Yang The Informational Role of Ownership Networks in Bank Lending,Journal of Financial and Quantitative Analysis,2022,8(57):2993 – 3017

11. Yong Jiang,Yi-Shuai Ren,Xiao-Guang Yang,Chao-Qun Ma &Olaf Weber,The relationship between geopolitical risk and crude oil prices: evidence from nonlinear and frequency domain causality tests,Spanish Journal of Finance and Accounting,Published online: 15 Dec 2022,

12. Yijing Wang, Xiaoguang Yang, Hongyang Zhang, Yapu Zhang. Bicriteria algorithms for approximately submodular cover under streaming model. Tsinghua Science and Technology, 2022.    

13.Wenhuan Wang, Congyu Zhao, Cong Dong, Huajun Yu, Yutao Wang, Xiaoguang Yang,Is the key-treatment-in-key-areas approach in air pollution control policy effective? Evidence from the action plan for air pollution prevention and control in China,Science of The Total Environment,Published 1 June,2022,DOI:10.1016/j.scitotenv.2022.156850Corpus ID: 249934103

14. Chuangxia Huang, Xian Zhao, Yunke Deng, Xiaoguang Yang, Xin Yang. Evaluating influential nodes for the Chinese energy stocks based  on jump volatility spillover network, International Review of Economics and Finance, Volume 78, March 2022, Pages 81-94

15.Chen Fei, Weiyin Fei, Fanhong Zhang, Xiaoguang Yang, Agent's optimal compensation under inflation risk by using dynamic contract model, Journal of Systems Science and Complexity,2021, Vol. 34,Issue (6): 2291-2390.DOI: 10.1007/s11424-021-0008-5

16. Baoqiang Zhan,Shu Zhang,Helen S.Du,Xiaoguang Yang,Exploring Statistical Arbitrage Opportunities Using Machine Learning Strategy,Computational Economics,2021,

17.Chuangxia Huang, Yunke Deng, Xiaoguang Yang, Jinde Cao, Xin Yang,A network perspective of comovement and structural change: Evidence from the Chinese stock market,International Review of Financial Analysis,2021,

18.Die Wan, Teng Yang, Xiaoguang Yang,IPO relative difficulty, M&A option and size effect,Journal of Asian Economics,2021(76):101350

19.Haoming Ye, Yan Wang,Chang Lu,Xiaoguang YangReverence of Life in TeenagersEyesJournal of Systems Science and System Engineering, Vol.30,No.3,June2021,pp.363379DOI:

20.Xin Yang  Shan Chen  Hong Liu  Xiaoguang Yang  Chuangxia Huang, Jump Volatility Spillover Network Based Measurement of Systemic Importance of Chinese Financial Institutions",International Journal of Finance and Economics. January 2021

21. Yong Jiang, Gang-Jin Wang, Chaoqun Ma, Xiaoguang Yang,Do credit conditions matter for the impact of oil price shocks on stock returns? Evidence from a structural threshold VAR model,International Review of Economics and Finance ,2021(72):1–15

22.Ripeng Huang, Shaojian Qu, Xiaoguang Yang and Zhimin LiuMulti-stage distributionally robust optimization with risk aversionJournal of Industrial & Management Optimization2021, 17(1): 261-277 doi: 10.3934/jimo.2019110

23.Ripeng Huang, Shaojian Qu, Xiaoguang Yang, Fengmin Xu, Zeshui Xu, Wei Zhou, Sparse Portfolio Selection with Uncertain Probability Distribution, Applied Intelligence2021(51):6665–6684.

24.Gao, H., Jiang, R., Wu, C. and Yang, X. (2021), "Ride on Past? Evidence from Corporate Bond Offering Price Persistence", Lee, C.-F. and Yu, M.-T. (Ed.) Advances in Pacific Basin Business, Economics and Finance (Advances in Pacific Basin Business, Economics and Finance, Vol. 9), Emerald Publishing Limited, Bingley, pp. 107-135.

25.Yingli Wang, Qingpeng Zhang, Xiaoguang Yang, Evolution of the Chinese guarantee network under financial crisis and stimulus program,NATURE COMMUNICATIONS,2020(11):2693,,

26.Gao Haoyu, Wang Junbo, Yang Xiaoguang, Zhao Lin. Borrower Opacity and Loan Performance: Evidence from China[J]. Journal of Financial Services Research, 2020, 57(2): 181-206.

27.Kai Xing, Xiaoguang Yang, Predicting default rates by capturing critical transitions in the macroeconomic systemFinancial Research Letters,2020(32):101107

28. Will Cong, Haoyu Gao, Jacopo Ponticelli and Xiaoguang Yang,Credit allocation under economic stimulus: evidence from China   Review of Financial Studies,32(9):3412 2019

29.Zhigang Cao, Xiaoguang Yang, Ordinally symmetric games, Operations Research Letters, 2019(47):127–129

30. Ripeng Huang,Shaojian Qu,Xiaoguang Yang,Zhimin Liu, Multi-stage distributionally robust optimization with risk aversion, Journal of Industrial and Management Optimization, doi:10.3934/jimo.2019109

Research Interests

Management Science, Applied Economics, Game Theory