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Dr Baibing Li BSc (Yunnan), MSc (Vrije Brussel), PhD (Shanghai Jiao Tong)

Photo of Dr Baibing Li

Professor of Business Statistics and Management Science

Bayesian statistical modelling; data mining; statistical modelling for financial markets; transportation and traffic studies

Baibing is Professor of Business Statistics and Management Science at the School of Business and Economics.  He holds a BSc degree from Yunnan University (China), an MSc degree from Shanghai Jiao Tong University (China), and an MSc degree from Vrije Universiteit Brussel (Belgium). In 1991, Baibing received his PhD degree from Shanghai Jiao Tong University Management School. He was a Postdoctoral Research Fellow with Katholieke Universiteit Leuven (Belgium), and a Research Associate with Newcastle University.  He is also a member of IEEE and Royal Statistical Society.

Prior to his current appointment, he was a Lecturer in Statistics in the School of Mathematics and Statistics at Newcastle University. In 2004, he moved to Loughborough University, as a Lecturer in the School of Business and Economics, where he was subsequently appointed as Reader in 2007, and then Professor in 2011. His most recent responsibility during his time at Loughborough Baibing was the role of Academic Director of the MSc Management Programmes, from 2009 to 2012, which involved managing the portfolio of MSc Finance & Management, MSc Marketing & Management, MSc Business Analysis & Management, MSc Management, and MSc International Management programmes.

Baibing is currently working closely with organisations that are interested in developing a business analytics capability. This work involves the application of a wide range of analytics approaches in general, and Bayesian statistical modelling/forecasting in particular. In recent years, much of his work has also involved transport and traffic management.

Baibing’s current research includes statistical modelling and analysis for complex problems in a wide range of management science areas. These include discrete choice analysis, financial market analysis, Internet retailing, human resources management, stochastic frontier analysis, performance measuring and monitoring, etc. Problems in various business and management scenarios often exhibit complex features characterized by a large set of variables which are usually dynamic, nonlinear, and non-Gaussian. To address these challenging research issues, Baibing incorporates a statistical approach (in particular a Bayesian statistical approach) to modelling, analysis and forecasting.

In recent years much of his work has also involved transport/traffic control and management, such as transportation demand analysis, travel behaviour modelling, and intelligent transportation systems. In this area, Baibing mainly focuses on developing new methodologies based on big data analytics for dealing with large-scale high-frequency traffic data (measured, for example, in every few seconds).

Baibing is a co-investigator of the EPSRC funded research project (£1,006K, 2012-2016), “Towards More Autonomy for Unmanned Vehicles: Situational Awareness and Decision Making under Uncertainty”. This research aims to address situational awareness and decision making under uncertain traffic environments for intelligent autonomous vehicles. Baibing is responsible for investigating Bayesian reasoning and learning under uncertainty using high-frequency sensor data collected by autonomous vehicles.

Baibing enjoys supervising his PhD students, whose research topics span a wide range of business and management problems such as, for example, stochastic frontier analysis for economic growth, traffic flow modelling and analysis with high-frequency data, liquidity timing analysis of hedge funds, asset portfolio allocation, and financial market modelling and forecasting via Markov switching approach. Baibing welcomes applications for PhD research in various areas of business analytics, such as financial market modelling and forecasting, data mining and applications in marketing, and intelligent traffic signal processing.  

  • External Examiner at Manchester Business School.
  • Member of editorial advisory board of Transportation Research Part B (Methodological).
  • Reviewer for a number of journals including Journal of the Royal Statistical Society: Series A, Series B, and Series CTransportation Research: Part B and Part CIEEE Transactions on Automatic ControlJournal of the Operational Research SocietyEuropean Journal of Operational Research

Baibing has published research articles in a wide range of outlets. His recent representative publications include:

Li, B., (2014) A bilevel model for multivariate risk analysis of pedestrians' crossing behavior at signalized intersections, Transportation Research Part B: Methodological, 65, pp.18-30.

Li, B., (2013) State estimation with partially observed inputs: A unified Kalman filtering approach, Automatica, 49(3), pp.816-820.

Li, B. and Yin, X., (2011) ''Capital Asset Pricing with Asymmetric Information''.  The European Journal of Finance, 17, pp 505-523.

Li, B. and Tang, F.-F., (2011) ''Online Pricing Dynamics in Internet Retailing: The Case of the DVD Market''. Electronic Commerce Research & Applications, 10, pp 227-235.

Li, B., (2011) ''The Multinomial Logit Model Revisited: A Semiparametric Approach in Discrete Choice Analysis''. Transportation Research Part B, 45, pp 461-473.