Pan Min Professor Department of Finance Email: mpan@whu.edu.cn Phone : +86-27-68753013 PhD, Finance, Kobe University, Japan(1995-2000) MS, Finance, Wuhan University, China (1987-1990) B.A.,Finance, Wuhan University, China (1983-1987) Curriculum Vitae

ACADEMIC EXPERIENCE

Ÿ Associate Dean of Economics and Management School,Wuhan University,June 2013 – Nov 2017

Ÿ Professor ofFinance, Wuhan University,November 2003 – present

Ÿ Postdoctoral of Theoretical Economics,Wuhan University, June 2001– May 2003

Ÿ Associate Professor ofFinance, Wuhan University, 2000 - 2003

Ÿ Instructor, Assistant Professor ofFinance, Wuhan University, 1990 - 1995

Teaching and Research

Ÿ Teaching Courses:Financial Economics (undergraduate, 54)

Ÿ Research Areas: Corporate Finance

MANAGERAL AND PRACTICAL EXPERIENCE

Ÿ Financial Consultant,Wuhan Yangfan Tech Corp. Ltd., Hubei Province. 2003-2006

CONSULTING AND TRAINING EXPERIENCE (GOVERNMENT OR CORPORATE)

Ÿ Consultative Content:Transformation of State-owned Asset Management,State-owned Asset Management Co. Ltd., Hubei Province.2013-2014

Ÿ Consultative Content: Corporate Governance of Commercial Banks,Risk Management Training of China Construction Bank, 2003-2008

SELECTED PUBLICATIONS

Journal Papers (International)

Ÿ Yingying Shi, Min Pan, Daiyan Peng. ReplicatorDynamics andEvolutionaryGame ofSocialTolerance: TheRole ofNeutralAgents.Economics Letters, 2017, 159, 10-14.

Ÿ Yingying Shi and Min Pan, 2016. Evolutionary dynamics of social tolerance in the economic interaction model with local social cost functions,Applied Economics letters(online),06 Apr,pp.75-79.

Ÿ Min Pan and Shengqiao Tang, 2011. Option Pricing and Executive Stock Option Incentive Compensation: An Empirical Investigation under General Error Distribution Stochastic Volatility Model,Asia-Pacific Journal of Operational Research, Vol. 28, pp. 81-93.

Ÿ Min Pan and Dan Xia, 2010. Demand, Supply and Sustainable Development of China’s Rural Microcredit: A case Study of Wuyuan, Jiangxi Province, East Asian Economic Review,No.4.

Journal Papers (Domestic)

Ÿ Pan Min, Wang Yi and Tao Yuou, 2016. “Does Net Stable Funding Ratio Affect Performance and Risk-taking of Commercial Banks? -Evidence from China’s Banking Industry”, Finance and TradeResearch, No.6, pp.19-28..

Ÿ Pan Min, Kang Qiaoling and Zhu Dixing,2016. “Do Ownerships of Local Governments Affect the Cyclical Characteristics of City Commercial Banks’ Lending?”, Economic Review,NO.4,pp.118-128.

Ÿ Pan Min and Liu xixi, 2016.“Does Government-Imposed Pay Curbs Affect the Incentive Effect of Pay Gap in Listed State-Owned Enterprises?” Wuhan University Journal (Philosophy and Social Science), No.2, pp.80-90.

Ÿ Pan Min,2016.“The Challenges of Improving the Monetary Policy System under the New Normal Economy in China.” Journal of Financial Research, No.2, pp.21-27.

Ÿ Pan Min and Wei Hairui, 2015.“Bank Risk-taking and Supervision: Does the Intensity of Supervision Matter: Evidence from China’s Banking Industry”.Journal of Financial Research, No.12, pp.54-71

Ÿ Pan Min and Wei Hairui, 2015,“ Do Political Connections of Executives Affect the Cyclical Characteristics of Commercial Banks＇Lending？--Evidences from China＇s Banking Industry.” Finance and Trade Economics, No.4, pp.60-73.

Ÿ Pan Min and Tang Jinrong, 2015,“Do Operations of China’s Central Bank on the RMB Exchange Rate Affect the Short-term Capital Inflow?- An Empirical Analysis Based on MS-VAR Model.” Studies of International Finance, No.2, pp.88-96.

Ÿ Pan Min and Tang Jinrong, 2013. “The Asymmetric Influence of the RMB Appreciation on China’s Regional Industries—An Empirical Analysis Based on MS-VAR Model” ,China Industrial Economics，No.12, pp.5-17.

Ÿ Pan Min and Zhang Yiru, 2013. “DoOwnershipStructuresAffect Cyclicality ofCommerce Banks’LendingBehaviors?—Evidence from China Banking Industry”.Journal of Financial Research, No.4, pp.29-42.

Ÿ Pan Min and Zhang Yiru, 2013. “Macroeconomic Fluctuations andBankingRisk-Taking：Based on the Perspective of Ownership Structure”, Finance and Trade Economics, No.10, pp. 57-65.

Ÿ Pan Min and Zhu Dixing, 2012. “Is Catering-based Investment Definitely Inefficient?Based on the Perspective of Stakeholders’”,Nankai Business Review, No.6, pp. 14-24.

Ÿ Pan Min and Zhu Dixing, 2012. “Review of Corporate FinanceTheory on the Heterogeneous Managers Approach”,Chinese Review of Financial Studies, No.3, pp. 94-126.

Ÿ Pan Min and Zhang Yiru, 2012. “A Win-Win Situation?: A Study on Effects of China’s Fiscal Policy”,Statistical Research, No.4, pp.51-59.

Ÿ Pan Min and Miao Haibin, 2012. “Industrial Restructuring and Inflation Gap Persistence”,Journal of Financial Research, No.3,pp. 14-28.

Ÿ Pan Min and Yan Chunxiao, 2012. “The Effects of theFed’sInterest Rate Commitment on Real Economy”,Studies of International Finance, No.4, pp.4-14.

Ÿ Pan Min、Luo Xiao and Miao Haibin, 2012. “A survey on the Theory of China”sRebalancing Growth”,Economic Perspectives, No.3, pp. 78-82.

Ÿ Pan Min,Xia Qing and Zhang Huahua, 2012. “Cycle of Monetary Policy and Term Structure of Interest Rate of Treasury Bonds”,Finance and Trade Research, No.1, pp.1-26.

Ÿ Pan Min,Xia Qing,Liu Xiaoyan and Zhang Huahua, 2011. “Exchange Rate System Reform, Monetary Policy and Term Structure of Interest Rate of Treasury Bonds”,Journal of Financial Research, No.11, pp. 18-31.

Ÿ Pan Min and Zhu Dixing, 2011. “Market Cycle, Investors Sentiment and Firm’s Investment Decisions—Evidence from Chinese Listed Firms”,Economic Management, No.9, pp.122-131.

Ÿ Pan Min, Luo Xiao and Miao Haibin, 2011. “Industrial Output and Spillover Effects of Bank Loans”,Review of Investment Studies, No.8, pp.12-22.

Ÿ Pan Min and Xie Long, 2011. “Does Regulation Substitute for or Promote Internal Governance in Banks? —Evidence from China Banking Industry”,Management (Academic Edition), No.4, pp.3-17.

Ÿ Pan Min and Zhu Dixing, 2011. “ASurvey on Corporate FinanceTheory on the Irrational Investors Approach”,Chinese Review of Financial Studies, No.3, pp.114-126.

Ÿ Pan Min, Miao Haibin and Chen Xiaoming, 2011. “Credit Expansion Behavior of China’s Commercial Banks on Financial Bailout”,Wuhan University Journal (Philosophy and Social Science), No.2, pp.92-101.

Ÿ Pan Min, Zhu Dixing and Xiong Wenjing, 2011. “Market Timingand Capital Structure: An Empirical Study Focus on Debt Cost”,Technology Economics, No.1, pp.105-111.

Ÿ Pan Min and Miao Haibin, 2010. “Unconventional Monetary Policy Exit in Economic Recovery: A Theoretical Analysis and China’s Choice”,World Economy Study, No.12, pp.24-29.

Ÿ Pan Min and Zhu Dixing, 2010. “Does Firm’s Investment Decisions Cater the Investor Sentiment?—Evidence from Chinese Listed Firms”,Economic Management, No.11, pp.124-131.

Ÿ Pan Min and Guo Xia, 2010. “Investor Behavior and Contagion of Financial Crisis: A Literature Review”,Finance and Economics, No.11, pp.34-39.

Ÿ Pan Min and Miao Haibin, 2010. “The Exit Time and Strategy ofUnconventional Monetary Policy”,Economic Perspectives, No.6,pp.88-92.

Ÿ Pan Min and Miao Haibin, 2010. “Bank Loans and Macroeconomic Fluctuation: 2003-2009”,Finance and Trade Research, No.4, pp.83-89.

Ÿ Pan Min and Miao Haibin, 2010. “Bank Loans, Economic Growth and Inflationary Pressures”,Economic Review, No.2, pp.62-70.

Ÿ Pan Min and Guo Xia, 2009. “A Survey on DynamicBalance Theory of Capital Structure”, Economic Perspectives, No.3, pp.126-131.

Ÿ Pan Min and Tang Shengqiao, 2009. “Executive Stock Option Pricing Based on Volatility Estimated by SV-GED Model---Evidence from Shanghai and Shenzhen 300 Index”,Review of Corporate Governance, No.1, pp.62-72.

Ÿ Pan Min and Xie Long, 2008. “Efficiency of Internal Mechanisms of Corporate Governance in China’s Listed Commercial Banks: An Empirical Study Based on Endogenous Perspective”,Management (Academic Edition), No.12, pp.509-519.

Ÿ Pan Min and Li Yipeng, 2008. “Board of Directors in Banking: Characteristics and Performance—An Empirical Study Based on the US Banking Industry”,Journal of Financial Research, No.7, pp.133-144.

Ÿ Pan Min and Dong Le, 2008. “Industry Characteristics and Incentive of Stock Option in Commercial Banks”,Luojia Management Review, No.1 Vol.2, pp.102-110.

Ÿ Pan Min and Dong Le, 2008. “Incentive of Executives Stock Option on Commercial Bank: Characteristics and Influencing Factors—Evidences the US Banking Industry”,Studies of International Finance,No.5, pp.30-36.

Ÿ Pan Min and Li Yipeng, 2008. “Characteristics of the Board of Director in Commercial Banks and CEO Compensation—Evidences from the US Banking Industry,Economic Review, No.1, pp.106-111.

Ÿ Pan Min and Shao Ke, 2007. “Do Firms Have Target Capital Structure? —Evidences fromChina's Listed Companies”,Journal of Financial Research, No.6, pp.1-8.

Ÿ Pan Min, 2006. “Governance of Debts and Incentives for Managers”,Chinese Journal of Management, No.4, pp.427-431.

Ÿ Pan Min, 2006. “Corporate Governance of Commercial Banks: Based on the Characteristics of the Banking Industry”,Journal of Financial Research, No.3, pp.37-47.

Ÿ Pan Min, 2006. “Bank Regulation and Corporate Governance of Banks”,Economic Review, No.2, pp.125-130.

Ÿ Pan Min, 2003. “TheChoice of Corporate Financing and Incentivesfor Managers”,China Soft Science, No.3, pp.75-79.

Ÿ Pan Min, 2003. “System of Corporate Assets and Shareholding Reform of State-Owned Insurance Company Insurance Studies”,Insurance Studies, No.2, pp.6-9.

Ÿ Pan Min and Jin Yan, 2003. “Information Asymmetry,Ownership Structure Design and Overinvestmentof China’s Listed Enterprises”,Journal of Financial Research, No.1, pp.36-45.

Ÿ Pan Min and Xie Xianmou, 2003. “Separation of Ownership and Insiders’ Control in China’s Corporations”,Wuhan University Journal (Social Sciences), No.1, pp.87-93.

Ÿ Pan Min and Chen Xinnian, 2002, “Risks and Countermeasures of ChinaBankingIndustry under Financial Openness”,Macroeconomic Management, No.10, pp.35-39.

Ÿ Pan Min and Xia Ping, 2002. “Loan Supply and Deposit Demand of State-Owned Commercial Banks and China's Monetary Transmission Mechanism”,Journal of Financial Research, No.6, pp.63-73.

Ÿ Pan Min, 2001. “Corporate Financing, Financial Contract and Corporate Governance”,Economic Review, No.5. pp. 86-90.

Conference Papers (International)

Ÿ Min Pan andShengqiao Tang,2009.“Stock Option Pricing and Executive Stock Option Incentive Compensation: An Empirical Investigation under General Error Distribution Stochastic Volatility Model”，Proceedings of the 3^rd International Conference on Risk Management and Global E-business,Vol.ⅠandⅡ: 107-111.

Ÿ Min Pan andShengqiao Tang,2010.“Executive Stock Option Pricing Based on Volatility Estimated by SV-GED Model: Evidence from Shanghai and Shenzhen 300 Index”，2009 International Conference on Management Science and Engineering-16^th Annual Conference Proceedings.

Ÿ Min Pan andShengqiao Tang,2009.“Executive Stock Option Pricing and Incentives: Evidence from Asian Option based on Volatility Estimated by SV-GED Model”，Proceedings-International Conference on Management and Service Science，MASS.

Ÿ Min Pan and Qin Xia, 2009.“Application for an Adaptive Monte Carlo Integration Algorithm with General Division to Hedge Digital Option”,Proceedings of 2009 International Conference on Management Engineering and Information Technology.

Ÿ Min Pan and Shengqiao Tang, 2009.“Multiple Layers Stock Option, Optimal Compensation and Agent Incentives”,Proceedings of China-Canada Industry Workshop on Enterprise Risk ISBN: 978-1-926642-00-0.

Textbooks

Ÿ Pan Min，1995,Money and Banking(co-author),Beijing: China Financial Press

Monography

Ÿ Pan Min, 2013.Corporate Governance in Commercial Banks: Basedon the Characteristics of the Banking Industry, Beijing:People's Publishing House.

Ÿ Pan Min, 2002.Capital Structure, Financial Contract and Corporate Governance, Beijing: China Financial Press.

Others

Ÿ Pan Min, 2010, Economics in the Twentieth Century (Co-author), Wuhan: Wuhan University Press.

Ÿ Pan Min, 2008.A Comparative Study on Economic Developmentbetween the Initial Stage of Developed Country and Today Developing Country (Co-author), Wuhan: Wuhan University Press.

RESEARCHGRANTS

Government-fundedgrants

Ÿ Research on the Monetary Policy System under the New Normal Economy in China.2016-2018.

Ÿ Research on the Corporate Governance of State-owned Firms in China.2010-2013.

Ÿ Research on the Counter-cyclical Monetary Policy and the Balance Development of China’s Economy,2010-2014.

Ÿ Researchon the Exit of Unconventional Monetary Policy under Economic Recovery,2011-2012.

Ÿ Research on Top-management Compensation Mechanism of Commercial Banks,2008-2010.

Ÿ Researchon Corporate Governance in Commercial Banks Based on the Characteristics of the Banking Industry,2006-2009.

Ÿ The Effect and Countermeasure of Financial Bailout Policies under Financial Crisis—From the Perspective of Loan Supply and Deposit Demand of Banking,2009-2010.

Ÿ Researchon Corporate Governance under Debt Financing.2003-2004.

Ÿ Optimal Capital Structure and the Structure of Corporate Governance.2001-2003.

Ÿ Financial Contract,Capital Structure and Corporate Governance,2001-2003.

Ÿ Researchon Monetary Policy System.2012-2014.Grant No.12&ZD046

Ÿ ResearchonCorporate Governance of State-owned Commercial Banks.2011-2013.Grant No.10AZD019.

Ÿ Research on Countercyclical MacroeconomicPolicy and Rebalancing Growth in China,2011-2013.Grant No.

Ÿ Research on Competitivenessand Corporate Governance of China Banking Industry,2011-2014.

Ÿ Research onTeaching Plan and Optimizing Teaching Content of the Course "Financial Economics.2013-2015.

Corporate-funded grants

Ÿ Research on Financing of Express Way Construction of Hubei Province.2007-2008.

Ÿ Research on Financing of marine traffic Development of Hubei Province.2009-2010.

Ÿ Research on Commodities Stockpiling and Trade Financing.2010

Treasury bonds

Ÿ Treasury Bond, US Dollar and Exchange Rate of RMB. 2011-2012.

Ÿ Performance Valuation of Development Bank and the other Large Scale Banks.2012-2013

AWARDS AND HONORS

Ÿ Second Prize,TheTenth Research Award of Social Science in Hubei, 2016

Ÿ Third Prize,The Ninth Research Award of Social Science in Hubei, 2014

Ÿ First Prize,The Thirteenth Research Award of Humanities and Social Science in Wuhan University, 2014

Ÿ Second Prize,The Eighth Research Award of Social Science in Hubei, 2013

Ÿ First Prize,The Sixth Research Award by Ministry of Education(Humanities and Social Science), 2013

Ÿ First Prize,The Seventh Research Award of Social Science in Hubei, 2010

Ÿ Second Prize,The Twelfth Research Award of Social Science in Wuhan, 2010

Ÿ Selected by“Program for New Century Excellent Talents byMinistry of Education”, 2007

Ÿ Third Prize,TheThird Research Award of Social Science in Hubei, 2003

Ÿ Second Prize,Financial Project from Department of Business and Management, Wuhan Branch, the People's Bank of China, 2011

Ÿ Second Prize, The ThirdExcellent Textbooks Award ofColleges andUniversities byMinistry of Education, 1995

EDITORIAL BOARDS

Ÿ Journal of Financial Research, Referee, 2009- present

Ÿ Journal of International Finance, Referee, 2010- present

Ÿ The Journal of World Economy, Referee, 2011- present

MEMBERSHIPS, CERTIFICATIONS

Ÿ Member of China Financing Teaching GuidanceCommittee

Ÿ Member ofChina International Finance Association

Ÿ Member ofChina Finance Association