K C Chan
Professor of Finance
PhD, 1985, University of Chicago, Finance
MBA., 1981, University of Chicago
BA (with Honors), 1979, Wesleyan University, Economics
EMPLOYMENT:
School of Business and Management
Hong Kong University of Science and Technology
Dean, July 2002 - present
Acting Dean, 2001 - June 2002
Associate Dean, September 1996 - 2000
Professor, Department of Finance, August 1994 - present
Head, Department of Finance, August 1994 - 2000
Acting Head of Accounting, August 1994 - August 1996
Reader in Finance, July 1993 - July 1994
The Ohio State University
Associate Professor of Finance, 1991 - 1995
Assistant Professor of Finance, 1985 - 1991
Visiting Instructor in Finance,1984 - 1985
Other Teaching
Taught a Ph.D. finance course for Kansallis-Osake-Pankki and several universities in Helsinki, Finland, September 1991
EDITORIAL BOARD:
Editor, International Review of Finance
Associate Editor, Pacific Basin Finance Journal
Associate Editor, Financial Analysts Journal
PUBLICATIONS:
"An Exploratory Investigation of the Firm Size Effect," with Nai-fu Chen and David Hsieh, Journal of Financial Economics 14 (3), (1985).
"Can Tax-Loss Selling Explain the January Seasonal in Stock Returns?" Journal of Finance 41(5), (1986).
"Risk and the Economy: A Finance Perspective," with René Stulz, in Financial Risk: Theory, Evidence and Implications, C.C. Stone, ed., Kluwer Academic Publishers, Norwell, M.A., (1988)
"On the Contrarian Investment Strategy," Journal of Business 61: 147-64, (1988).(Reprinted in Market Efficiency: Stock Market Behaviour in Theory and Practice, Andrew Lo, ed., Edward Elgar Publishers.)
"An Unconditional Test of Asset Pricing and the Role of Firm Size as an Instrumental Variable for Risk," with Nai-fu Chen, Journal of Finance 63: 309-325, (1988).
"Risk and Return from Real Estate: Evidence from Equity REITs," with Patric Hendershott and Anthony Sanders, AREUEA Journal , (Winter 1990), 431-452.
"Structural and Return Characteristics of Small and Large Firms," with Nai-fu Chen, Journal of Finance 46, (1991).
"Intraday Volatility in the Stock Index and Stock Index Futures Markets," with Kalok Chan and Andrew Karolyi, Review of Financial Studies 4: 657-684, (1991).
"The Volatility of the Japanese Stock Market: Evidence from 1977 to 1990," with G. Andrew Karolyi, in Japanese Financial Market Research , W. Ziemba, W. Bailey and Y. Hamao, (eds.,), North-Holland Publishers, (1991).
"The Volatility of Short-Term Interest Rates: An Empirical Comparison of Alternative Models of the Term Structure of Interest Rates," with G. Andrew Karolyi, Francis A. Longstaff and Anthony B. Sanders, Journal of Finance 68 (1992), 1209-1227.
"The Volatility of Japanese Interest Rates: A Comparison of Alternative Term Structure Models," with G. Andrew Karolyi, Francis A. Longstaff and Anthony B. Sanders, in Rhee and Chang (eds), Pacific Basin Financial Market Research , Vol. 3, (1992).
"Global Financial Markets and the Risk Premium on the U.S. Equity" with Andrew Karolyi and René Stulz, Journal of Financial Economics 32 (2) (1992), 137-168
"Economic Forces and Commodity Futures Prices: Further Evidence on Time-Varying Risk Premia," with Warren Bailey, Journal of Finance 48 (3) (1993).
"Market Structure and the Intraday Pattern of Bid-Ask Spreads for NASDAQ Securities," with William G. Christie and Paul H. Schultz, Journal of Business 68 (1) (1995), 35-60.
"Information, Trading and Stock Returns: Lessons from dually-listed securities", with Wai-Ming Fong and René Stulz, Journal of Banking and Finance, (1996).
"Does Money Explain Asset Returns? Theory and Empirical Analysis" with Silverio Foresi and Larry Lang, Journal of Finance 51(1), (1996).
"The Performance of Japanese Mutual Funds", Review of Financial Studies, (with Jun Cai and Takeshi Yamada), (1997) 10: 237-274
HONOURS:
Invited to write an essay on "Contrarians" for The New Palgrave Dictionary of Money and Finance, Peter Newman, (eds), Macmillan, (1992).
BOOK REVIEWS:
A Contrarian Strategy for Growth Stock Investing (by Donald Peters), Journal of Finance (1994).
OTHER RESEARCH AND WORKING PAPERS:
“The Impact of Tick Size on the Quality of a Pure Order-Driven Market: Evidence from the Stock Exchange of Hong Kong”, with Chuan Yang Hwang (2001)
SERVICE:
University Level
Member, University Council 2001 -
Member, University Senate, 1994 -
Member, University Court 1997 - 2000
Member, University Budget Committee, 18 November 1997 to present
Member, Search Committee for Vice-President for Academic Affairs, 1998
Member, Search Committee for Associate President for Academic Affairs, 1995
Member, Universities Joint Salaries Committee and ’Administrative Contacts’, 24 October 1997 - 30 June 2000
Member, Senate Research Committee, 1994 - 1997
Chairman, University Appointment and Substantiation Committee, 2000
Member, University Appointment and Substantiation Committee, 1994 - 1999
Member, Committee for Academic Program Enhancement, 1996
Member, Task Force on Quality of Research, 1995
Member, Review Panel on Existing Independent Units and Central Facilities, 1995
Panel Member, Institute of Environmental Studies, 1993
School Level
Member, School Research Committee, 1994 -
Academic Planning Report Working Group. 1997 -
Academic Associations
Co-President, Asian Finance Association, 2003 -
President, Asia Pacific Finance Association, 2001 - 2002
Vice-President, Asia Pacific Finance Association, 1998 - 2000
Academic Program Chair, Asia Pacific Finance Association’s 2nd Conference, Hong Kong, 1995
Member of Nominating Committee, American Finance Association 2000
Community
Part-time Member, Central Policy Unit, 2001 -
Member, Advisory Committee on Human Resources Development in the Financial Services Sector, 2001 -
Member, Vetting Committee for the Professional Services Development Assistance Scheme, 2002 -
Member, Hong Kong Council for Academic Accreditation, 2001 -
Member, Academic and Accreditation Advisory Committee, Securities and Futures Commission, 2001 - 2002
Member, Committee on Unit Trust, Securities and Futures Commission, 2000 -
Member, Committee on Investment-Linked Assurance and Pooled Retirement Funds, 2002 -
Co-opted member, Competition Policy Committee, Consumer Council 2000 - 2002
Council member, Consumer Council, 2003 -
Director of the Board, Hong Kong Securities Institute, 2002 -
Director, Hong Kong Futures Exchange Ltd, 1998 - 2000
Member, Events Committee, Hong Kong Securities Institute, 1997 - 1999
Examiner, Hong Kong Securities Institute
Member of Advisory Committee, Post-doctoral Laboratory of Shenzhen Stock Exchange
Member of the Selection Committee for the appointment of Principals of Diocesan Schools, 2002 -
Panel Member, Humanities, Social Studies and Business Panel, Research Grants Council, 1994 -
Panel Member, City University’s Academic Search Committee, 1994
External Examiner, City University’s Master of Science in Finance Program, 1995 - 2000
Chief External Examiner for the MBA program, Baptist University, 1995 - 2000
Panel of Examiners of the Securities Industry Examination, 1995 -
Professor of Finance
PhD, 1985, University of Chicago, Finance
MBA., 1981, University of Chicago
BA (with Honors), 1979, Wesleyan University, Economics
EMPLOYMENT:
School of Business and Management
Hong Kong University of Science and Technology
Dean, July 2002 - present
Acting Dean, 2001 - June 2002
Associate Dean, September 1996 - 2000
Professor, Department of Finance, August 1994 - present
Head, Department of Finance, August 1994 - 2000
Acting Head of Accounting, August 1994 - August 1996
Reader in Finance, July 1993 - July 1994
The Ohio State University
Associate Professor of Finance, 1991 - 1995
Assistant Professor of Finance, 1985 - 1991
Visiting Instructor in Finance,1984 - 1985
Other Teaching
Taught a Ph.D. finance course for Kansallis-Osake-Pankki and several universities in Helsinki, Finland, September 1991
EDITORIAL BOARD:
Editor, International Review of Finance
Associate Editor, Pacific Basin Finance Journal
Associate Editor, Financial Analysts Journal
PUBLICATIONS:
"An Exploratory Investigation of the Firm Size Effect," with Nai-fu Chen and David Hsieh, Journal of Financial Economics 14 (3), (1985).
"Can Tax-Loss Selling Explain the January Seasonal in Stock Returns?" Journal of Finance 41(5), (1986).
"Risk and the Economy: A Finance Perspective," with René Stulz, in Financial Risk: Theory, Evidence and Implications, C.C. Stone, ed., Kluwer Academic Publishers, Norwell, M.A., (1988)
"On the Contrarian Investment Strategy," Journal of Business 61: 147-64, (1988).(Reprinted in Market Efficiency: Stock Market Behaviour in Theory and Practice, Andrew Lo, ed., Edward Elgar Publishers.)
"An Unconditional Test of Asset Pricing and the Role of Firm Size as an Instrumental Variable for Risk," with Nai-fu Chen, Journal of Finance 63: 309-325, (1988).
"Risk and Return from Real Estate: Evidence from Equity REITs," with Patric Hendershott and Anthony Sanders, AREUEA Journal , (Winter 1990), 431-452.
"Structural and Return Characteristics of Small and Large Firms," with Nai-fu Chen, Journal of Finance 46, (1991).
"Intraday Volatility in the Stock Index and Stock Index Futures Markets," with Kalok Chan and Andrew Karolyi, Review of Financial Studies 4: 657-684, (1991).
"The Volatility of the Japanese Stock Market: Evidence from 1977 to 1990," with G. Andrew Karolyi, in Japanese Financial Market Research , W. Ziemba, W. Bailey and Y. Hamao, (eds.,), North-Holland Publishers, (1991).
"The Volatility of Short-Term Interest Rates: An Empirical Comparison of Alternative Models of the Term Structure of Interest Rates," with G. Andrew Karolyi, Francis A. Longstaff and Anthony B. Sanders, Journal of Finance 68 (1992), 1209-1227.
"The Volatility of Japanese Interest Rates: A Comparison of Alternative Term Structure Models," with G. Andrew Karolyi, Francis A. Longstaff and Anthony B. Sanders, in Rhee and Chang (eds), Pacific Basin Financial Market Research , Vol. 3, (1992).
"Global Financial Markets and the Risk Premium on the U.S. Equity" with Andrew Karolyi and René Stulz, Journal of Financial Economics 32 (2) (1992), 137-168
"Economic Forces and Commodity Futures Prices: Further Evidence on Time-Varying Risk Premia," with Warren Bailey, Journal of Finance 48 (3) (1993).
"Market Structure and the Intraday Pattern of Bid-Ask Spreads for NASDAQ Securities," with William G. Christie and Paul H. Schultz, Journal of Business 68 (1) (1995), 35-60.
"Information, Trading and Stock Returns: Lessons from dually-listed securities", with Wai-Ming Fong and René Stulz, Journal of Banking and Finance, (1996).
"Does Money Explain Asset Returns? Theory and Empirical Analysis" with Silverio Foresi and Larry Lang, Journal of Finance 51(1), (1996).
"The Performance of Japanese Mutual Funds", Review of Financial Studies, (with Jun Cai and Takeshi Yamada), (1997) 10: 237-274
HONOURS:
Invited to write an essay on "Contrarians" for The New Palgrave Dictionary of Money and Finance, Peter Newman, (eds), Macmillan, (1992).
BOOK REVIEWS:
A Contrarian Strategy for Growth Stock Investing (by Donald Peters), Journal of Finance (1994).
OTHER RESEARCH AND WORKING PAPERS:
“The Impact of Tick Size on the Quality of a Pure Order-Driven Market: Evidence from the Stock Exchange of Hong Kong”, with Chuan Yang Hwang (2001)
SERVICE:
University Level
Member, University Council 2001 -
Member, University Senate, 1994 -
Member, University Court 1997 - 2000
Member, University Budget Committee, 18 November 1997 to present
Member, Search Committee for Vice-President for Academic Affairs, 1998
Member, Search Committee for Associate President for Academic Affairs, 1995
Member, Universities Joint Salaries Committee and ’Administrative Contacts’, 24 October 1997 - 30 June 2000
Member, Senate Research Committee, 1994 - 1997
Chairman, University Appointment and Substantiation Committee, 2000
Member, University Appointment and Substantiation Committee, 1994 - 1999
Member, Committee for Academic Program Enhancement, 1996
Member, Task Force on Quality of Research, 1995
Member, Review Panel on Existing Independent Units and Central Facilities, 1995
Panel Member, Institute of Environmental Studies, 1993
School Level
Member, School Research Committee, 1994 -
Academic Planning Report Working Group. 1997 -
Academic Associations
Co-President, Asian Finance Association, 2003 -
President, Asia Pacific Finance Association, 2001 - 2002
Vice-President, Asia Pacific Finance Association, 1998 - 2000
Academic Program Chair, Asia Pacific Finance Association’s 2nd Conference, Hong Kong, 1995
Member of Nominating Committee, American Finance Association 2000
Community
Part-time Member, Central Policy Unit, 2001 -
Member, Advisory Committee on Human Resources Development in the Financial Services Sector, 2001 -
Member, Vetting Committee for the Professional Services Development Assistance Scheme, 2002 -
Member, Hong Kong Council for Academic Accreditation, 2001 -
Member, Academic and Accreditation Advisory Committee, Securities and Futures Commission, 2001 - 2002
Member, Committee on Unit Trust, Securities and Futures Commission, 2000 -
Member, Committee on Investment-Linked Assurance and Pooled Retirement Funds, 2002 -
Co-opted member, Competition Policy Committee, Consumer Council 2000 - 2002
Council member, Consumer Council, 2003 -
Director of the Board, Hong Kong Securities Institute, 2002 -
Director, Hong Kong Futures Exchange Ltd, 1998 - 2000
Member, Events Committee, Hong Kong Securities Institute, 1997 - 1999
Examiner, Hong Kong Securities Institute
Member of Advisory Committee, Post-doctoral Laboratory of Shenzhen Stock Exchange
Member of the Selection Committee for the appointment of Principals of Diocesan Schools, 2002 -
Panel Member, Humanities, Social Studies and Business Panel, Research Grants Council, 1994 -
Panel Member, City University’s Academic Search Committee, 1994
External Examiner, City University’s Master of Science in Finance Program, 1995 - 2000
Chief External Examiner for the MBA program, Baptist University, 1995 - 2000
Panel of Examiners of the Securities Industry Examination, 1995 -
