Recently, "Which is the best: A comparison of asset pricing factor in Chinese Mutual Fund Industry'', a paper co-authored by Gao Ran, an undergraduate in the School of Economics, and his tutor, was published in Economic Modelling, a Social Science Journal indexed by SSCI. This paper provides a new research paradigm and a comparative method for the study of capital asset pricing models in emerging markets.

This paper compares the application of six mainstream factor models in financial research at home and abroad. In order to overcome the disadvantages of extremely high volatility and strong heterogeneity of investors in Chinese stock market, a new way is adopted to choose the mutual fund with more stable returns as the research object. In terms of models, the paper employs a number of indicators for extensive comparison based on time series and cross-section characteristics of asset pricing. Results show that the five-factor model Fama-French has obvious advantages in comparison among the three criteria of excess return, mispricing and goodness-of-fit. This paper provides a complete comparison scheme for selecting the asset pricing factor models.

"Economic Modelling" is an English Academic Journal published by Elsevier Press, which is included in SSCI. The journal's prime objective is to provide an international review of the state-of-the-art in economic modelling. In 2019, JCR ranks 93^rd in the economic classification, and ranks first in Quartile 2.

Since the start of 2019, under the guidance of their tutors, the students of the School of Economics have successively published papers in authoritative journals both at home and abroad. The publication of the paper was supported by the Cultivation Talent Program in School of Economics and the Project for Youth Faculty Research in CUEB.