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Finance Professor at University of Toronto’s Rotman School of Management Awarded Fellowship from the Bank of Canada.

March 20, 2023

Toronto–Liyan Yang, a professor of finance at the University of Toronto’s Rotman School of Management is the recipient of the Bank of Canada’s Fellowship Award for 2023.

Prof. Yang, who holds the Peter L. Mitchelson/SIT Investment Associates Foundation Chair in Investment Strategy at the Rotman School, received the award which provides financial support to academics who are recognized for their expertise and research in areas important to the Bank's core functions for up to a five-year term. Past recipients of the award from the Rotman School include Prof. Daniel Trefler, who first received the award in 2016 which was renewed for a second term in 2021, and the late Prof. Peter Christoffersen who received the award in 2018.

Prof. Yang is an internationally acclaimed scholar with expertise in financial markets, institutions, and behavioural finance. His research proposes a coherent framework – both theoretical and empirical – for understanding how investors interact in financial markets and their effect on regulatory policy and the overall welfare of the economy. His voluminous, widely cited scholarship has yielded fundamental insights into financial system function, one of the Bank’s core functions, and on how to improve the efficiency and stability of those systems. He has numerous research awards and is a past recipient of the Bank of Canada Governor’s Award, which recognizes outstanding academics at a relatively early stage in their careers, who are working at Canadian universities in areas of research critical to the Bank's mandate.

The Rotman School of Management is part of the University of Toronto, a global centre of research and teaching excellence at the heart of Canada’s commercial capital. Rotman is a catalyst for transformative learning, insights and public engagement, bringing together diverse views and initiatives around a defining purpose: to create value for business and society. For more information, visit


For more information:

Ken McGuffin
Manager, Media Relations
Rotman School of Management
University of Toronto
Voice: 416.946-3818