Banking and regulatory change
Congratulations to Dr Yeliangzi Zheng who received her PhD in December 2024, for her thesis titled ‘Stock price synchronicity, liquidity creation and internal dividends: evidence from US banking’.
Dr Zheng notes:
Modern theories of financial intermediation posit that banks perform two core roles in the economy as risk transformers and liquidity creators. To perform those roles, banks become risky and opaque. Given the importance and characteristics of banks, bank regulations and supervision are designed to tackle information asymmetries, discourage excessive risk-taking and minimise negative externalities.
In her thesis, Dr Zheng seeks to explore how these critical bank behaviours and conducts respond to regulatory changes. A chapter of the work has been published in the journal, Finance Research Letters.
She submitted her thesis in February 2024 and had a viva in April 2024, examined by Professor Charalampos Stasinakis from University of Glasgow and the University of St Andrews Business School’s Dr Mao Zhang. Her research was co-supervised by Professor John Wilson, Professor Pejman Abedifar from Tehran Institute for Advanced Studies, and Professor Kais Bouslah from Université du Québec à Trois-Rivières.
Dr Zheng was a taught postgraduate student in the MSc Banking and Finance programme at the School of Management in 2016-2017. She reports that one of the most remarkable aspects of her time at St Andrews has been the supportiveness of the University, the School, the staff and her peers. The diverse, inclusive and supportive community at St Andrews is the reason she cites for choosing to return to pursue her research studies at St Andrews, and it was the source of resilience for her during her PhD journey.
Best wishes from St Andrews to her for the future!
Dr Yeliangzi Zheng