Address
9-243, Lau Ming Wai Academic Building, City University of Hong Kong
Phone
+852 34427248
Email
Personal Web
http://amazon.com/author/michaelcswong
Research Areas
Risk Management
Financial Institution Management
Capital Markets
Sustainable Finance
Qualifications
Certificate - Executive Coaching (University of Cambridge)
Certificate - Fintech (Massachusetts Institute of Technology)
Certificate - Venture Capital (University of California, Berkeley)
PhD - Finance (The Chinese University of Hong Kong)
MA - Social Science Data Analysis (University of Essex)
MPhil - Finance (University of Cambridge)
Biography
Dr. Michael C S Wong serves as EMBA Director and Associate Professor of Finance at City University of Hong Kong. He specializes on international banking, risk management and financial markets. Dr. Wong architected the first Basel-standard internal ratings-based (IRB) system in Hong Kong in 2003-2005 and wealth management due diligence models after the collapse of Lehman Brothers in 2008. His risk management models are currently implemented by more than 25 regional and global financial institutions operating in Asia. Dr. Wong reviewed risk control and stress testing models for banking institutions, submitted independent risk assessment reports to company boards and regulators, and provided expert witness on legal disputes involving complex financial transactions. He served as a founding member of Global Association of Risk Professionals’ (GARP) FRM Committee, an examiner of professional examinations of both Hong Kong Securities and Investment Institute (HKSI) and Hong Kong Institute of Bankers (HKIB), a member of Market Misconduct Tribunal in Hong Kong, a member of Task Force of Hong Kong Insurance Authority, and an advisor of the Investor and Financial Education Council. He obtained his postgraduate degrees in Finance and Data Analytics respectively from the Chinese University of Hong Kong, University of Essex and University of Cambridge, and executive training at Berkeley, MIT and Cambridge. Dr. Wong was a long-serving director of MSc programs in Finance, Banking and Financial Engineering (1998-2015) at CityU and was granted university-wide Teaching Excellence Award by the university in 1999. His research, including his services to the financial industry, is selected by the university as a high-impact case for the UGC's Research Assessment Exercise (RAE 2020). In 2022, Dr. Wong serves as an editor of Sustainability on a special issue "Sustainable Finance and Risk Management". He also serves as a judge panel member of CityU's HK Tech 300 in both seed and angel funding rounds.
Awards
| Award Title | Institution |
|---|---|
| UGC Research Impact Case (Economics and Finance) (2020) | City University of Hong Kong |
| Nominee of UGC Teaching Award (2018) | Nominated by City University of Hong Kong |
| Awarded the 8th among 52 teams (served as the team adviser of 6 postgraduate students) | Rotman International Trading Competition (2014) at University of Toronto |
| Certificate of Achievement (with Floyd Newsum) | FinCapDev Competition (2013) in San Francisco |
| Teaching Excellence Award | City University of Hong Kong |
| Young Scholar Dissertation Award | Chinese University of Hong Kong |
| Fellowship of Cambridge Commonwealth Trust | University of Cambridge |
| ECPR Scholarship for Essex Summer School in Social Science Data Analysis | University of Essex |
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Research Grants
co-PI: "A Generative Deep Learning Framework for Emotion-sensitive Robo-advisors in Personal Wealth Management", GRF (CityU 11507219) - Hong Kong Research Grants Council , Amount: 608,242 (2020-2021), Raymond Y.K. Lau, Chunping Li, Michael C S Wong
co-PI: "基于大数据分析框架的在线信用评级关键技术研究 ", 国家自然科学基金 (NSFC) , Amount: RMB479,000 (2017-2020), Raymond Y.K. Lau, Michael C.S. Wong, W. Yue, C.M. Leung, C.H. Cheung, X. Xin
co-PI: "BigCredit: A Novel Framework for Big Social Media Data Enhanced Online Credit Scoring", General Research Fund - Hong Kong Research Grants Council , Amount: HK$820,521 (2017-2019), Raymond Y.K. Lau, Michael C S Wong, Chunping Li
PI: "Hong Kong Fintech: Opportunities, Practices and Risk Issues", UGC Knowledge Transfer Earmarked Fund - City University of Hong Kong, Amount: HK$200,000 (2016-2017), Michael C S Wong, Raymond Y K Lau, Ray Cheung and Leon Zhao
PI: "Strengthening Python literacy of students for knowledge discovery and knowledge commercialization ", Teaching Development Grant - UGC and City University of Hong Kong , Amount: HK$179,800 (2014-2015), Michael C S Wong; Leon Zhou; Geoffrey Tso; Phisit Sucharitsopit
PI: "The Behavioral Economics of Online/Mobile Banking Security: an examination of status quo bias in IT security choice decision making ", Centre for Social Media Marketing and Business - City University of Hong Kong, Amount: 100,000 (2014-2015), Floyd Newsums; Chu-fang Chen; Michael C S Wong
PI: "Algorithmic Trading Research Group", Idea Incubator Scheme - City University of Hong Kong, Amount: HK$598,000 (2013-2015), Michael C S Wong; Jovan Cenev; Humphrey Tung; Antonie Chan
PI: "LOUD Money", DEC Mobile App Development Grants (MADGs) - City University of Hong Kong , Amount: HK$80,000 (2013-2014), Michael C S Wong, Floyd Newsum
PI: "Assessment of Risk Perception, Heuristic Biases, and Frame Dependence in an Online Environment", Idea Incubator Scheme - City University of Hong Kong , Amount: HK$150,000 (2012-2013), Michael C S Wong, Floyd Newsum
co-PI: "RiskMed: Collaborative Intelligence for Liquidity Risk Mediation", GRF - RGC Hong Kong , Amount: HK$800,000 (2010-2013), J. Leon Zhao, Akhil Kumar, Michael C S Wong, Daniel Zeng
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External Links
Publications
Journal Publications and Reviews
Li, Wei; Wong, Micheal C.S.; Cenev, Jovan / Corrigendum to “High Frequency Analysis of Macro News Releases on the Foreign Exchange Market A Survey of Literature” [Big Data Res. 2 (1) (2015) 33–48]. February 2022; In: Big Data Research. Vol. 27
Wong, Michael / Business Innovation and Chief Innovation Officer (CINO). September 2020; In: ManageView . Vol. 2020, No. 2, pp. 14-16
WONG, Michael Chak Sham; BHATTI, Waleed Irfan / Developing International Sukuk in East Asia: Implications from Hong Kong Sukuk. November 2019; In: Journal of Asian Finance, Economics and Business. Vol. 6, No. 4, pp. 9-17
Wong, Michael Chak Sham ; Yap, Richard Chin Yee / Social Impact Investing for Marginalized Communities in Hong Kong: Cases and Issues. May 2019; In: Sustainability. Vol. 11, No. 10
Wong, Michael CS; Li, Wei / Do Macro News Surprises of the US Affect Forex Implied Volatility? The Evidence of Japanese Yen in 1997-2015. January 2019; In: Journal of Stock and Forex Trading. Vol. 7, No. 1
Kyophilavong, Phouphet; Wong, Michael C. S.; Souksavath, Somchith; Xiong, Bin / Impacts of trade liberalization with China and Chinese FDI on Laos: evidence from the CGE model. July 2017; In: Journal of Chinese Economic and Business Studies. Vol. 15, No. 3, pp. 215-228
Wong, Michael C S / Countercyclical corporate strategies. June 2017; In: South China Elite . No. 1, pp. 66-77
WONG, Chak Sham; Li, Stephen C Y; Ku, Anthony C T / Impacts of Intellectual Capital on Profitability: An Analysis on Sector Variations in Hong Kong. August 2015; In: Journal of US-China Public Administration. Vol. 8, No. 12, pp. 614-616
Li, Wei; Wong, Micheal C.S.; Cenev, Jovan / High Frequency Analysis of Macro News Releases on the Foreign Exchange Market: A Survey of Literature. March 2015; In: Big Data Research. Vol. 2, No. 1, pp. 33-48
Tung, Humphrey KK; Wong, Michael CS / On the formulation of credit barrier model using radial basis functions. September 2014; In: Journal of the Operational Research Society. Vol. 65, No. 9, pp. 1437-1452
Wong, Michael C.S. / Guest Editor's introduction: Emerging market risk management. May 2014; In: Emerging Markets Finance and Trade. Vol. 50
Batten, Jonathan A.; Szilagyi, Peter G.; Wong, Michael C.S. / Stock market spread trading: Argentina and Brazil stock indexes. May 2014; In: Emerging Markets Finance and Trade. Vol. 50, No. Supplement 3, pp. 61-76
Hu, Daning; Zhao, J. Leon; Hua, Zhimin; Wong, Michael C. S. / NETWORK-BASED MODELING AND ANALYSIS OF SYSTEMIC RISK IN BANKING SYSTEMS. December 2012; In: MIS Quarterly. Vol. 36, No. 4, pp. 1269 - 1291
Zhou, Kaiguo; Wong, Michael / Timing ability of China mutual fund investors. September 2012; In: Emerging Markets Finance and Trade. Vol. 48, pp. 116-128
Cai, Jinghan; Ouyang, Hongbing; WONG, Chak Sham / The Bear Market in China: Which Trades Push the Stock Prices Down?. 2011; In: Annals of Financial Economics. Vol. 6&7, pp. 30 - 62
Tung, H. K K; Wong, M. C S / Financial risk forecasting with nonlinear dynamics and support vector regression. May 2009; In: Journal of the Operational Research Society. Vol. 60, No. 5, pp. 685-695
WONG, Chak Sham Michael / Building Internal Ratings-based Systems: Asian Bank Challenges. December 2008; In: Journal of Regulation & Risk North Asia. Vol. 1, No. 1, pp. 83 - 88
Wong, Anson L.K.; Wong, Michael C.S. / Examining the performance of venture-backed companies in the Hong Kong IPO market. September 2008; In: Journal of Private Equity. Vol. 11, No. 4, pp. 28-41
Zhou, Kaiguo; Wong, Michael C. S. / The determinants of net interest margins of commercial banks in Mainland China. September 2008; In: Emerging Markets Finance and Trade. Vol. 44, No. 5, pp. 41-53
Wong, Michael Chak-sham; Lam, Yat-fai / Macro stress tests and history-based stressed PD: the case of Hong Kong. August 2008; In: Journal of Financial Regulation and Compliance. Vol. 16, No. 3, pp. 251-260
王坤; 王澤森 / 利用評估值編制商業房地產表現指數的方法，缺陷及其解決方法. 2008; In: 技術經濟與管理研究. Vol. 1, pp. 103 - 105
王澤森; 王坤 / BOT在香港隧道項目中的應用: 經驗與教訓. 2007; In: 國際經貿探索. Vol. 9, pp. 26 - 30
王坤; 王澤森 / 銀行業房地產信貸風險成因及對策. 2007; In: 金融理論與實踐. Vol. 5, pp. 18 - 20
Wong, Michael C.S.; Luk, Sherriff T.K.; Li, Stephen C.Y. / Equity ownership and management control in sino-foreign joint venture hotels. January 2005; In: Service Industries Journal. Vol. 25, No. 1, pp. 117-133
Chong, Bessie; Wong, Michael / Crafting an effective customer retention strategy: a review of halo effect on customer satisfaction in online auctions. 2005; In: International Journal of Management and Enterprise Development. Vol. 2, No. 1, pp. 12-26
Chong, Bessie; Martinsons, Maris G.; Wong, Michael / Adoption of e-learning for work-based training: an exploratory study of the Hong Kong apparel industry. 2004; In: International Journal of Innovation and Learning. Vol. 1, No. 3, pp. 312-326
Wong, Michael Chak Sham; Cheng, Wai Yan; Wong, Clement Yuk Pang / Market risk management of banks: Implications from the accuracy of value-at-risk forecasts. January 2003; In: Journal of Forecasting. Vol. 22, No. 1, pp. 23-33
Cai, Jun; Cheung, Yan-Leung; Wong, Michael C. S. / What moves the gold market?. March 2001; In: Journal of Futures Markets. Vol. 21, No. 3, pp. 257-278
Wong, Michael C. S.; Cheung, Yan-Leung; Wu, Lifan / Insider trading in the Hong Kong stock market. 2000; In: Asia-Pacific Financial Markets. Vol. 7, No. 3, pp. 275-288
Wong, Michael Chak-Sham; Cheung, Yan-Leung / The practice of investment management in Hong Kong: Market forecasting and stock selection. August 1999; In: Omega. Vol. 27, No. 4, pp. 451-465
Wong, Michael C. S. / Fund management performance, trend-chasing technical analysis and investment horizons: A case study. February 1997; In: Omega. Vol. 25, No. 1, pp. 57-63
Wong, Michael C. S. / Market reactions to several popular trend-chasing technical signals. November 1995; In: Applied Economics Letters. Vol. 2, No. 11, pp. 449-456
Conference Papers
Wong, Michael; YAP, Chin Yee / Social impact investing for marginalized communities in Hong Kong: cases and issues. April 2019; Management, Governance and Ethical Finance Conference 2019 (MGEF19), 10/04/2019 - 11/04/2019, Edinburgh, United Kingdom.
Kyophilavong, Phouphet; Sengsuvanh, V; WONG, Chak Sham Michael / Bank lending to the private sector: Implications from nonperforming Loans in Lao PDR. December 2017; 2017 International Conference on Financial Markets and Institutions: Asset Pricing, Risk Management and Corporate Governance, 15/12/2017 - 17/12/2017, Chengdu, China.
WONG, Chak Sham Michael / Credit Rating Services and OBOR Bond Market Development for Infrastructure Projects: Issues, Challenges and Possible Solutions. July 2017; 2017 Chinese Economic Association (Europe/UK) China Conference, 01/07/2017 - 02/07/2017, Chengdu, China.
WONG, Chak Sham Michael; Kyophilavong, Phouphet / The Use of Renminbi in ASEAN Countries: Facts and Trends. December 2016; China-ASEAN Financial Forum 2016, China-ASEAN Research Institute, Guangxi University, Nanning, China., 02/12/2016 - 04/12/2016, Nanning, China.
WONG, Chak Sham Michael / Human Resources Development for Banking and Finance: The case of MSc programs for Hong Kong bankers and regulators in 1992-2008. October 2016; International Conference in Celebration of 20th Anniversary of the Establishment of National University of Laos, 19/10/2016 - 19/10/2016, Vientaine, Lao People's Democratic Republic.
WONG, Chak Sham; Zhao, J. Leon; WU, Xiaoyu / Will Volcker Rule Mitigate Systemic Risk? Implications from System Dynamic Modeling. June 2014; Workshop on Internet and BigData Finance, 07/06/2014 - 07/06/2014, , China.
Zhou, Kaiguo; WONG, Chak Sham / Timing Ability of China Mutual Fund Investors. July 2011; International Symposium on Finance and Accounting 2011 (ISFA 2011), 04/07/2011 - 06/07/2011, Bangkok, Thailand.
WONG, Chak Sham Michael / Risk Appetite: How Hungry Are You?. June 2010; OpRisk Management Asia 2010, 22/06/2010 - 22/06/2010, , China.
WONG, Chak Sham Michael / Investment Services Due Diligence. April 2010; Executive Seminar on Investment Services Due Diligence, 19/04/2010 - 19/04/2010, , China.
WONG, Chak Sham Michael / Investment Services Due Diligence: The Hong Kong Experience (Shanghai Chapter). April 2010; Chapter Meeting of PRMIA (Shanghai), 09/04/2010 - 09/04/2010, Shanghai, China.
WONG, Chak Sham Michael / Investment Services Due Diligence: The Hong Kong Experience (Beijing Chapter). April 2010; Chapter Meeting of PRMIA (Beijing), 08/04/2010 - 08/04/2010, Beijing, China.
WONG, Chak Sham Michael / Due Diligence in the Wealth Management Business: The Hong Kong Experience. February 2010; Evening Seminar of GARP (Malaysia), 25/02/2010 - 25/02/2010, Kuala Lumpur, Malaysia.
WONG, Chak Sham Michael / The Risk of Investment Products: Correlation among Credit Risk, Market Risk and Liquidity Risk (Singapore Chapter). February 2010; Chapter Meeting of PRMIA (Singapore), 05/02/2010 - 05/02/2010, , Singapore.
WONG, Chak Sham Michael / Risk Management and Corporate Value Creation. December 2009; Post-conference Master Seminar, 05/12/2009 - 05/12/2009, , China.
WONG, Chak Sham Michael / Enterprise Risk Management: Scope and Cases. August 2009; Hong Kong Productivity Council Professional Seminar, 07/08/2009 - 07/08/2009, , China.
Working Papers
王澤森; 陳樂庭; 李建安 / 構建一帶一路新投融資模型. February 2019; pp. 1-6
Wong, Michael CS / Belt-Road Credit Rating Agency (BRCRA): Outlining a Roadmap. March 2018; Policy Paper.
Wong, Michael CS / Credit Rating and OBOR Bond Market Development: Issues, Challenges and Possible Solutions. January 2018; Policy Paper.
Chapters, Conference Papers, Creative and Literary Works
Wong, Michael Chak Sham; Mo, Phyllis Lai Lan; Li, Linda Chelan; Li, Kin On / Belt and Road Initiative Project Financing and Hong Kong. March 2023; Hong Kong Professional Services and the Belt and Road Initiative: Challenges for Co-evolving Sustainability. pp. 71-91
Wong, Chak Sham; Ho, Stan H. M. / Green Certification, Credit Rating, and Mainland Chinese Green Bonds in Hong Kong. 2022; Handbook of Research on Global Aspects of Sustainable Finance in Times of Crises. pp. 131-149
王澤森 / 信用評級: 發展香港「一帶一路」債券市場. July 2019; 解構‧倡議: 專業服務與一帶一路. pp. 73-90
王澤森; 陳樂庭; 李建安 / 善用香港: 創新「一帶一路」投融資平台. July 2019; 解構‧倡議: 專業服務與一帶一路 . pp. 91-102
YUAN, Hui; LAU, Raymond Y.K.; WONG, Michael C.S.; LI, Chunping / Mining Emotions of the Public from Social Media for Enhancing Corporate Credit Rating. October 2018; Proceedings - 2018 IEEE 15th International Conference on e-Business Engineering, ICEBE 2018. pp. 25-30
Yuan, Hui; Lau, Raymond Y.K.; Xu, Wei; Pan, Zhaokang; Wong, Michael C.S. / Mining Individuals’ Behavior Patterns from Social Media for Enhancing Online Credit Scoring. June 2018; PACIS 2018 PROCEEDINGS: PACIS 2018 - Opportunities and Challenges for the Digitized Society: Are We Ready?.
CHEUNG, RAY C.C.; WONG, MICHAEL C.S. / INITIATIVES IN BLOCKCHAIN EDUCATION: FROM UNIVERSITY TO BUSINESS, INDUSTRY AND SOCIETY. October 2017; In Blockchain We Trust. pp. 202-207
Chak Sham Wong, Michael; Kyophilavong, Phouphet / Impacts of trade liberalization and China FDI on LAOS: evidence from the CGE model. September 2016; The 8th CEA (Europe) and 27th CEA (UK) Annual Conference.
Das, Rituparna; Wong, Michael C.S. / Understanding the relationship between liquidity and inflation in the post-crisis period in India: from banks' dealers perspectives. January 2014; Emerging Markets and the Global Economy: A Handbook. pp. 99-113
WONG, Chak Sham; Chan, Wilson F C / US Dollar Interest Rate Fixings in Offshore Currency Markets: The Puzzles of Volatility and Funding Cost. 2013; Investing in Asian offshore currency markets: the shift from dollars to Renminbi. pp. 24-38
Das, Rituparna; Wong, Michael C.S. / Revisiting Interest Rate Pricing Models from an Indian Perspective: Lessons and Challenges. November 2012; Rethinking valuation and pricing models: lessons learned from the crisis and future challenges. pp. 571-583
Zhou, Kaiguo; WONG, Chak Sham / Impact of Short Selling on China Stock Prices. October 2011; Handbook of short selling. pp. 269-278
Treadway, Peter; WONG, Chak Sham / The Chinese real estate bubble: Is it an opportunity for short selling?. October 2011; Handbook of short selling. pp. 237-250
Wong, Michael C.S. / Foreword. July 2011; The Risk of Investment Products: From Product Innovation to Risk Compliance. pp. v-xiv
Tung, Humphrey K. K.; Wong, Michael C. S. / Financial Risk Forecasting with Non-Stationarity. 2011; Nonlinear Financial Econometrics: Forecasting Models, Computational and Bayesian Models. pp. 28-50
WONG, Chak Sham Michael / Disparity of USD interbank interest rates in Hong Kong and Singapore: Is there any arbitrage opportunity?. June 2010; The handbook of trading: strategies for navigating and profiting from currency, bond, and stock markets. pp. 255-261
WONG, Chak Sham Michael / Institutions and investment activities in the venture capital industry: evidence from China, Hong Kong and India. July 2009; Emerging markets: performance, analysis and innovation. pp. 433-456
Chong, Bessie; Yang, Zhilin; Wong, Michael / Asymmetrical Impact of Trustworthiness Attributes on Trust, Perceived Value and Purchase Intention: A Conceptual Framework for Cross-cultural Study on Consumer Perception of Online Auction. September 2003; ICEC '03 - Proceedings of the 5th International Conference on Electronic Commerce. pp. 213-219
Scholarly Books, Monographs, Reports and Case Studies
WONG, Chak Sham / Reviewing the risk models of one of the top 5 commercial banks in Hong Kong. March 2015;
WONG, Chak Sham; Chan, Wilson F C / Investing in Asian offshore currency markets: the shift from dollars to Renminbi. 2013;
WONG, Chak Sham; Treadway, Peter T / Investing in the age of sovereign defaults: how to preserve your wealth in the coming crisis. 2013;
WONG, Chak Sham / The risk of investment products: from product innovation to risk compliance. 2011;
LAI, Chi Fai; TUNG, Kwong Kwai; WONG, Chak Sham Michael; Ng, Stephen / Professional Financial Computing Using Excel & VBA. June 2010;
WONG, Chak Sham Michael / Reviewing the Investment Product Risk Models and Product Due Diligence of Dah Sing Bank. December 2009;
WONG, Chak Sham Michael / Expert Witness Report for HKSAR Government on Valuation on Rate and Rent. July 2009;
Patents, Agreements and Assignments
CENEV, Jovan; CHAN, Antoni Bert; TUNG, Kwong Kwai Humphrey; WONG, Chak Sham Michael / System and Methods for Optimization of Stochastic Portfolio Mixtures. March 2015;
Other Outputs
王澤森 / 香港發展一帶一路信用評級的角色. February 2018; 發展一帶一路信用評級.
王澤森 / 中國信用評級的挑戰與解決方案. February 2018; 發展一帶一路信用評級.
王澤森 / 為何發展一帶一路的信用評級？. January 2018; 發展一帶一路信用評級.
WONG, Chak Sham Michael / Vientiane as an international banking center: Is it possible?. December 2016;
WONG, Chak Sham Michael; Kwok, Kam Hoi; Hartmann, N P J / The report of the Market Misconduct Tribunal into dealings in the shares of Evergrande Real Estate Group Limited on 21 June 2012. August 2016;
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