Bing Xu

Dr, Associate Professor in Finance

  • EH14 4AS

    United Kingdom

Accepting PhD Students


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Personal profile


Bing Xu is an Associate Professor in Finance at the Heriot-Watt University. She holds a MA (Hons) in Business Studies & Accounting and a PhD in Management both from the University of Edinburgh. 

Research interests

Bing's research focuses on banking and investment analytics by modelling the impact of uncertainty on banks’/firms’/mutual funds’ performance, their lending/investment and risk-taking behaviours. She is also passionate on scrutinizing the causes of sustainable finance gap, and the consequences of climate-related risks on firms’ performances and access to finance. Another strand of Bing’s research is around the design of multidimensional frameworks (e.g., DEA, multi-criteria decision-making analysis-based approaches) to evaluate energy strategies and prediction models. She also has works related to commodity market, mainly around modelling/forecasting oil prices and studying the dynamic impact of oil price shocks on the economy.

She has worked on 10+ external multidisciplinary funded energy projects and worked with a diverse team of academic and industrial partners. Currently, Bing is working on several UKRI funded projects around performance analytics, stakeholder engagement, policy, social dynamics, and sustainable finance:

  1. Low carbon jet fuel production through integration of novel technologies for co-valorisation of CO2 and biomass” (EP/N009924/1) EPSRC, WP5 leader: Policy and public engagement.
  2. “E-bio-fuels (SGBH FF Feb2019 1)” EPSRC, Supergen Bioenergy Hub and the Department of Transport. WP2 leader: Performance evaluation and engagement.
  3. GREEN ICEs” (EP/T022701/1) EPSRC, WP5.3 leader: Market Analysis and Techno-economic Evaluation.
  4. Fast-track vaccine cold-chain assessment and design for Mass Scale COVID-19 Vaccination in Bangladesh” (EP/V028332/1) GCRF, WP3 leader: Sustainable Financing.
  5. UKRI Interdisciplinary Centre for Circular Chemical Economy” (EP/V011863/1) EPSRC, Theme 3 leader: Policy, Society and Finance.

She is on the board of director for the Roundtable on Sustainable Biomaterials (RSB) which is a global, multi-stakeholder independent organisation and is the most trusted, peer-reviewed member body active in the bioeconomy. She is also the Energy Economics Working Group Chair for the UK Chinese Economics Association.

Bing has published in journals such as Annals of Operations Research, Applied Economics, Applied EnergyEconomics Letter, Energy EconomicsEnergy Journal, Expert Systems with Applications, Journal of Financial Stability, International Review of Financial Analysis, Transportation Research Part A: Policy and Practice, among others.

She is interested in supervising PhD students in banking, sustainable finance, energy economics, decision-making analysis and social acceptance.

Expertise related to UN Sustainable Devlopment Goals

In 2015, UN member states agreed to 17 global Sustainable Development Goals (SDGs) to end poverty, protect the planet and ensure prosperity for all. This person’s work contributes towards the following SDG(s):

  • SDG 2 - Zero Hunger
  • SDG 3 - Good Health and Well-being
  • SDG 7 - Affordable and Clean Energy
  • SDG 12 - Responsible Consumption and Production
  • SDG 13 - Climate Action


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