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Assistant Professor

Phoebe Fei GAO

Assistant Professor
PhD in Business (Finance), Singapore Management University, Singapore
Cluster:
Business, Communication and Design
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Biography

I am an Assistant Professor at Singapore Institute of Technology. I have taught classes in Statistics, Investment and Risk Analysis, and Derivatives. I graduated with a PhD in Business (Finance) from Singapore Management University and M.Phil and B.Sc from the Chinese University of Hong Kong. My research interests include asset pricing, risk management, alternative data, and machine learning.

SIT Appointments

  • Assistant Professor
    – Present
  • Lecturer
    –

Education

  • PhD in Business (Finance)
    Singapore Management University , Singapore
  • Master of Philosophy in Risk Management Science
    The Chinese University of Hong Kong , Hong Kong SAR China
  • Bachelor of Science in Risk Management Science
    The Chinese University of Hong Kong , Hong Kong SAR China

Achievements

  • MOE Post Graduate Full Scholarship (Singapore)
  • Postgraduate Studentships (Full Scholarship, Hong Kong)
  • Anthony Y. C. Yeh Scholarship (Full Scholarship, Hong Kong)
  • Double Dean’s List in United College and Engineering Faculty (Hong Kong)
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Research Interests

  • Risk Management, Financial Modelling, Financial Innovation, ESG and AI
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Journal Papers

  • "The ESG Flow–Return Paradox: Green sentiment boosts inflows but lags in returns", with Arif Perdana, 2026 at Journal of Environmental Management, 398, 128385. https://doi.org/10.1016/j.jenvman.2025.128385

  • "MiFID II, with confounding COVID-19, and its effects on opaque financial intermediaries: Dynamics between sell-side and buy-side brokerage firms in the European market", with Chu Young Lim, 2026 at International Journal of Banking, Accounting and Finance, 15(3), 240-277. https://doi.org/10.1504/IJBAAF.2025.151879

  • "Class Actions and Beyond: Unravelling the Link between Corporate Decision-Making and Risk Prediction in the age of Machine Learning" with Yew Kee Ho, and Kevin Ow Yong, 2025 at FinTech, 4(4), 71. https://doi.org/10.3390/fintech4040071

  • “The Journey of an Exchange Traded Fund: Becoming a Unicorn or Zombie” with Bingqiao Li, 2023. In Fintech, Pandemic, and the Financial System: Challenges and Opportunities (Vol. 22, pp. 243-272), https://doi.org/10.1108/S1569-376720220000022012.

  • “Loan Loss Provisions and Return Predictability: A Dynamic Perspective” with Xiumei Liu, Chu Yeong Lim and Cheng Colin Zeng, 2022. China Journal of Accounting Research, 100224, ISSN 1755-3091, https://doi.org/10.1016/j.cjar.2022.100224.

  • “To Age Like Fine Wine: A Story of Singapore Public Housing” with Seck Tan and Bingqiao Li, 2023. International Real Estate Review (Vol 26, Issue 2). https://www.gssinst.org/irer/wp-content/uploads/2023/04/v26-no1-4_Singapore-Public-Housing.pdf.

  • "What Kind of ‘Green’ that the Guests Want? An Exploration of Luxury Hotel Green Room Attributes Adoption", with Desi Arisandi and Ricci Loh, 2023 at Organizations and Markets in Emerging Economies, https://doi.org/10.15388/omee.2023.14.94.

Conferences

  • "Board Dynamics and ESG Rating Variations", with Kevin Ow Yong, and Tiffany Thng. Conference paper at SAC2025 conference, Singapore. 

  • "Do Real Estate Investment Trusts Outperform Real Estate Firms in ESG?", with Bingqiao Li, and Yuchen Wang. Conference paper at SAC2025 conference, Singapore. 

  • “Class Actions and Beyond: Unravelling the Link between Corporate Decision-Making and Risk Prediction in the age of Machine Learning” with Yew Kee Ho, and Kevin Ow Yong. Conference paper at HARS 2025, Korea. Awarded with travel reimbursement (USD 1,000). 

  • “Unlocking the ESG Code: Navigating Profitability Dynamics in the Tertiary Sector's Short-Term Thrust and Long-Term Symphony”, with Jesslyn Lim. Conference paper at Asian FA, 2025, Taiwan.

  • “Expected horizons and concentration: plausible explanations for the limited use of fundamental analysis among sophisticated investors” with Kris D. Allee, Dieudonne N. Dusenge and Kevin Ow Young.  Conference paper at the 21st Asian Academic Accounting Association Annual Conference on 24-26 November 2024 in Hanoi, Vietnam.

  • “MiFID II effects: Dynamics between sell-side and buy-side brokers and exodus of non-EU analysts from Europe markets”, Seed Grant with Jimmy Lee and Chu Yeong Lim. Conference paper at JCAE Symposium, 2023. 

  • “Evaluating the Efficacy of Machine Learning in Predicting Corporate Bankruptcy” with Janet Tan and Arif Perdana, conference paper at the 3rd International Conference of the Journal of Information Systems, 2024. 

  • “Decoding Corporate Success: How Machine Learning Unravels the Link Between Decision-making and Risk Prediction” with Yew Kee Ho and Kevin Ow Yong, conference paper at the 3rd International Conference of the Journal of Information Systems, 2024, and 20th Asian Academic Accounting Association Annual Conference, 2023.

  • “Center of Volume Mass: Does Aggregate Options Market Opinion Predict Stock Returns?” with Genaro Bernile and Jianfeng Hu. Conference paper at 2017 Financial Management Association Annual Meeting, 2017 CQ Asia Conference, 2018 China International Conference in Finance, 2018 CUHK Derivatives and Quant Investing conference, 2020 Annual Conference of the Asia-Pacific Association of Derivatives. 

Books

  • “Deployment of Accounting Analytics Models for Workforce and Project Management” with Janet Tan, Michelle Zou and Kevin Ow Yong, Book Chapter in Business and Management – Annual Volume 2023, https://www.intechopen.com/online-first/87724. DOI: 10.5772/intechopen.112354

  • “Banco PlatformTM by RABC Group and its Green Fintech Innovations”. Book chapter with Annie Koh and Kevin Ow Yong in the book, “Fintech and green investment: Transforming challenges into opportunities”. https://doi.org/10.1142/9781800614604_0013

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