Dr ZHU, Yuefeng    朱岳峰 博士
Assistant Professor
Department of Social Sciences and Policy Studies
Contact
ORCiD
0000-0002-0056-7387
Phone
(852) 2948 7374
Email
yfzhu@eduhk.hk
Address
10 Lo Ping Road, Tai Po, New Territories, Hong Kong
Website
https://pappl.eduhk.hk/rich/web/person.xhtml?pid=150768&name=ZHU, Yuefeng
Scopus ID
56182725300
SDGs
12 - Responsible Consumption and Production
Research Interests
  • Personal finance
  • Experimental financial
  • Personalized financial Intervention
  • Machine learning in personal finance
  • Financial counseling and planning

Teaching Interests


  • Financial Risk Management for Investment (Financial derivatives)
  • Personal Financial Planning
  • Quantitative Research Methods



External Appointments

Editorial broad member, International Journal of Bank Marketing (SSC, IF = 6.2)

Personal Profile

Alex has established a track record in conducting research in personal finance, personal finance education, personalized financial intervention, and financial counseling and planning. His research is published in international top journals such as Technology in Society, British Journal of Educational Technology, and Social Science & Medicine. His work serves both financial customers, aiming to improve their financial behaviors, and financial service providers, aiming to optimize their marketing strategies. Alex has received research grants from the Investor and Financial Education Council in Hong Kong SAR and the Chief Executive's Policy Unit. His current projects aim to utilize machine learning and deep learning to promote positive financial behavioral changes among Hong Kong customers.

Research Interests
  • Personal finance
  • Experimental financial
  • Personalized financial Intervention
  • Machine learning in personal finance
  • Financial counseling and planning

Teaching Interests


  • Financial Risk Management for Investment (Financial derivatives)
  • Personal Financial Planning
  • Quantitative Research Methods



External Appointments

Editorial broad member, International Journal of Bank Marketing (SSC, IF = 6.2)

Research Outputs
Scholarly Books, Monographs and Chapters
Chapter in an edited book (author)
Zhu, A. Y. F. (2022). Competition for premium human resources: Cooperation and rivalry between Hong Kong and Shenzhen. Ka Ho MOK, Cities and social governance reforms: Greater Bay Area development experiences (51-71). Palgrave Macmillan. https://doi.org/10.1007/978-981-16-9531-5_4
Zhu, A. Y. F. (2022). Greater Bay Area cities on Mainland China: Perceptions of Hong Kong residents. Ka Ho MOK, Cities and social governance reforms: Greater Bay Area development experiences (31-50). Palgrave Macmillan. https://doi.org/10.1007/978-981-16-9531-5_3
Zhu, A. Y. F., & Mok, K. H. (2022). Understanding migration into Greater Bay Area cities in Mainland China as an investment for Hong Kong young adults. Ka Ho MOK, Cities and social governance reforms: Greater Bay Area development experiences (73-93). Palgrave Macmillan. https://doi.org/10.1007/978-981-16-9531-5_5

Journal Publications
Publication in refereed journal
Zhu, A. Y. F. (2025). Unlocking financial literacy with machine learning: A critical step to advance personal finance research and practice. Technology in Society, 81, 00-00. https://doi.org/10.1016/j.techsoc.2024.102797
Shao, L., & Zhu, A. Y. F. (2024). The moderating role of financial trust in retirement financial planning. Educational Gerontology, 50(11), 1045-1060. https://doi.org/10.1080/03601277.2024.2372137
Zhu, A. Y. F. (2024). Optimizing financial decision-making for emerging adults: A compact python-based personalized financial projection approach. Technology in Society, 77, 102599. https://doi.org/10.1016/j.techsoc.2024.102599
Zhu, A. Y. F., & Chou, K. L. (2024). The social psychology of procedural justice: Findings in Hong Kong. Political Behavior, E-pub ahead of print, 00-00. https://doi.org/10.1007/s11109-024-09938-6
Huang, J., Zhang, Y., Zhu, A. Y. F., Gong, Y. F., & Kong, H. M. R. (2024). Distinguishing subtypes of self-efficacy among secondary school teachers: A latent profile analysis. Journal of Teacher Education, E-pub ahead of print, 00-00. https://doi.org/10.1177/00224871241234872
Zhu, A. Y. F. (2024). Upgrading financial education by adding Python-based personalized financial projection: A randomized control trial. British Journal of Educational Technology, 55(2), 731-750. https://doi.org/10.1111/bjet.13401
Zhu, A. Y. F., & Chou, K. L. (2024). Depression among older adults before and during the pandemic: Follow-up assessment of a three-wave longitudinal observation. Current Psychology, E-pub ahead of print, 00-00. https://doi.org/10.1007/s12144-023-05601-1
Zhu, A. Y. F., & Chou, K. L. (2024). Health outcomes of social pension expansion: A quasi-experiment among older adults in Hong Kong. Journal of Applied Gerontology, 43(1), 26-36. https://doi.org/10.1177/07334648231195493
Zhu, A. Y. F., & Chou, K. L. (2023). Situational appraisal and emotional responses of the public in the social movement. Current Psychology, 42, 12387-12399. https://doi.org/10.1007/s12144-021-02581-y
Zhu, A. Y. F., & Chou, K. L. (2023). The effects of multidimensional poverty on life satisfaction among older adults in Hong Kong. Journal of Applied Gerontology, 42(5), 1022-1034. https://doi.org/10.1177/07334648221141410
Zhang, Y., Tian, Z., Zhou, Z., Huang, J., & Zhu, A. Y. F. (2023). Intention to consume news via personal social media network and political trust among young people: The evidence from Hong Kong. Frontiers in Psychology, 13, Article 1065059. https://doi.org/10.3389/fpsyg.2022.1065059
Zhu, A. Y. F., & Chou, K. L. (2022). Psychological transformation of youth after engaging in non-radical and radical political activities. Current Psychology, 41(11), 7843-7853. https://doi.org/10.1007/s12144-020-01239-5
Zhu, A. Y. F., & Chou, K. L. (2022). Depression among poor older adults: The role of social support. Social Science and Medicine, 311, Article 115293. https://doi.org/10.1016/j.socscimed.2022.115293
Zhu, A. Y. F., & Chou, K. L. (2022). Public attitude towards militant protest in Hong Kong: An investigation based on the elaborated social identity model. Policing (Oxford), 16(1), 188-203. https://doi.org/10.1093/police/paab073
Mok, K. H. & Zhu, A. Y. F. (2021). Assessing the connection between overeducation and migration intention in Hong Kong’s young working adults. Journal of Education and Work, 34(3), 262-274. https://doi.org/10.1080/13639080.2021.1922623
Zhu, A. Y. F., & Chou, K. L. (2021). Collective action in the anti-extradition law amendment bill movement in Hong Kong: Two integrative group identification models. Analyses of Social Issues and Public Policy, 21(1), 1033-1053. https://doi.org/10.1111/asap.12268
Zhu, A. Y. F., Mok, K. H., & Huang, G. H. (2021). Migrating to GBA cities in mainland China: Assessing a model of psychological distance among Hong Kong working adults. Analyses of Social Issues and Public Policy, 21(1), 579-594. https://doi.org/10.1111/asap.12235
Zhu, A. Y. F. (2021). Financial literacy types and financial behaviors among adolescents: Role of financial education. Journal of Financial Counseling and Planning, 32(2), 217-230. https://doi.org/10.1891/JFCP-19-00051
Zhu, A. Y. F., Yu, W. M. C., & Chou, K. L. (2021). Improving financial literacy in secondary school students: An randomized experiment. Youth and Society, 53(4), 539-562. https://doi.org/10.1177/0044118X19851311
Zhu, A. Y. F. (2020). Impact of financial education on adolescent financial capability: Evidence from a pilot randomized experiment. Child Indicators Research, 13, 1371-1386. https://doi.org/10.1007/s12187-019-09704-9
Zhu, A. Y. F. (2020). Impact of school financial education on parental saving socialization in Hong Kong adolescents. Journal of Behavioral and Experimental Economics, 87, Article 101557. https://doi.org/10.1016/j.socec.2020.101557
Zhu, A. Y. F., & Chou, K. L. (2020). Financial literacy among Hong Kong's Chinese adolescents: Testing the validity of a scale and evaluating two conceptual models. Youth and Society, 52(4), 548-573. https://doi.org/10.1177/0044118X17753813
Zhu, A. Y. F., & Chou, K. L. (2020). Hong Kong’s transition toward a knowledge economy: Analyzing effect of overeducation on wages between 1991 and 2011. Journal of the Knowledge Economy, 11(1), 103-113. https://doi.org/10.1007/s13132-018-0535-z
Zhu, A. Y. F., Chan, A. L. S., & Chou, K. L. (2020). The pathway toward radical political participation among young people in Hong Kong: A communication mediation approach. East Asia, 37(1), 45-62. https://doi.org/10.1007/s12140-019-09326-6
Zhu, A. Y. F. (2019). School financial education and parental financial socialization: Findings from a sample of Hong Kong adolescents. Children and Youth Services Review, 107, Article 104532. https://doi.org/10.1016/j.childyouth.2019.104532
Zhu, A. Y. F., Chan, A. L. S., & Chou, K. L. (2019). Creative social media use and political participation in young people: The moderation and mediation role of online political expression. Journal of Adolescence, 77, 108-117. https://doi.org/10.1016/j.adolescence.2019.10.010
Zhu, A. Y. F. (2019). The mediational role of parenting in the relationship between family poverty and social-emotional competence in Chinese adolescents. Child Indicators Research, 12, 1759-1780. https://doi.org/10.1007/s12187-018-9609-5
Zhu, A. Y. F. (2019). Links between family poverty and the financial behaviors of adolescents: Parental roles. Child Indicators Research, 12, 1259-1273. https://doi.org/10.1007/s12187-018-9588-6
Zhu, A. Y. F. (2019). Financial risk tolerance of Hong Kong adolescents: A hierarchical model. Children and Youth Services Review, 102, 193-200. https://doi.org/10.1016/j.childyouth.2019.05.014
Zhu, A. Y. F. (2019). Credit card use of college students: A broad review. Journal of Personal Finance, 18(1), 55-63. https://www.proquest.com/scholarly-journals/credit-card-use-college-students-broad-review/docview/2298230464/se-2?accountid=11441published version (EdUHK Users only)
Zhu, A. Y. F. (2018). Parental socialization and financial capability among Chinese adolescents in Hong Kong. Journal of Family and Economic Issues, 39, 566-576. https://doi.org/10.1007/s10834-018-9584-5
Zhu, A. Y. F. (2018). Validating the scale measuring dysfunctional parenting with Hong Kong adolescents. Child and Adolescent Social Work Journal, 35, 489-498. https://doi.org/10.1007/s10560-018-0537-5
Zhu, A. Y. F. (2018). The relationship between the service quality of airports and that of their dominant airlines. Journal of Airport Management, 12(3), 314-321. http://www.scopus.com/inward/record.url?scp=85064431006&partnerID=8YFLogxK Scopus publicationLink to publication in Scopus, https://search-ebscohost-com.ezproxy.eduhk.hk/login.aspx?direct=true&db=asn&AN=131227190&site=ehost-live&scope=sitepublished version (EdUHK Users only)
Shek, D. T. L., Zhu, X. Q., & Zhu, A. Y. F. (2018). Conceptual background and the development of Service Leadership Knowledge Scale. International Journal of Child and Adolescent Health, 11(4), 395-404. https://www.proquest.com/scholarly-journals/conceptual-background-development-service/docview/2188903278/se-2?accountid=11441published version (EdUHK Users only)
Zhu, A. Y. F., & Chou, K. L. (2018). Development of financial capacity in adolescents. Child and Adolescent Social Work Journal, 35(3), 309-315. https://doi.org/10.1007/s10560-017-0521-5
Zhu, A. Y. F., & Chou, K. L. (2018). Retirement goal clarity, needs estimation, and saving amount: Evidence from Hong Kong, China. Journal of Financial Counseling and Planning, 29(2), 328-342. https://doi.org/10.1891/1052-3073.29.2.328
Chou, K. L., Yu, K. M., Chan, W. S., Chan, A. C., Lum, T. Y., & Zhu, A. Y. F. (2014). Social and psychological barriers to private retirement savings in Hong Kong. Journal of Aging and Social Policy, 26, 308-323. https://doi.org/10.1080/08959420.2014.939840
Chou, K. L., Yu, K. M., Chan, W. S., Wu, A. M., Zhu, A. Y. F., & Lou, V. W. (2014). Perceived retirement savings adequacy in Hong Kong: An interdisciplinary financial planning model. Ageing and Society, 35(8), 1565-1586. https://doi.org/10.1017/S0144686X14000373

Projects
Designing Customized Chatbots for Financial Advice: A Pilot Study on Applying GRF

Project Start Year: 2024, Principal Investigator(s): ZHU, Yuefeng

 
Empowering Financial Literacy: Machine Learning for Assessing and Enhancing Adolescent Financial Knowledge
The study aims to revolutionize the field of financial education by harnessing the power of machine learning technology. By utilizing advanced algorithms, the research seeks to develop a novel approach for assessing and enhancing adolescent financial literacy.
Project Start Year: 2023, Principal Investigator(s): ZHU, Yuefeng

 
Promoting Retirement Financial Planning Activities and Retirement Savings Outcomes of Working Adults in Hong Kong: A Three-Component Intervention
This project seeks to merge innovative financial education, financial marketing strategies, and programming-driven human-computer interaction to create a highly effective multicomponent behavioral intervention program supported by rigorous experimental evidence.
Project Start Year: 2023, Principal Investigator(s): ZHU, Yuefeng

 
Now More Important than Ever: Promoting Healthy Financial Behaviors for Hong Kong Youths from Lower-SES Households
This project aims to identify avenues to facilitate healthy financial behaviours (e.g.,making and following a budget, and learning financial management) for Hong Kong youths from lower-SES households. Using findings from the mixed-method study, the team will design and implement a pilot intervention.
Project Start Year: 2023, Principal Investigator(s): LI, Xiao Min (ZHU, Yuefeng as Co-Investigator)

 
Promoting financial resilience and retirement financial planning among the young: Customized tools built with Python
The Financial and Investor Education Council, Securities & Futures Commission of Hong Kong has generously funded this project. The primary objective of this initiative is to develop a Python-based financial intervention program targeting young individuals in Hong Kong. The project aimed to evaluate the program's impact on various aspects of financial resilience, including financial capability, digital literacy, and economic resources. Additionally, the project assessed its influence on retirement financial planning, specifically in terms of retirement goal clarity and the calculation of retirement financial needs. To ensure rigorous analysis, strict experimental designs was employed.

A total funding of HK$420,875 was approved to support the successful execution of this project.
Project Start Year: 2022, Principal Investigator(s): ZHU, Yuefeng