Prof. Kalok CHAN
陳家樂教授
Dean (CB)
Chair Professor
Address
12-228, Lau Ming Wai Academic Building, City University of Hong Kong
Phone
+852 34429782
Fax
+852 34420153
Email
Biography
Professor Kalok Chan is Dean of the College of Business and Chair Professor of Finance, City University of Hong Kong.
Prior to joining CityU in November 2023, Professor Chan was the Wei Lun Professor of Finance at the Chinese University of Hong Kong, serving as Dean of CUHK Business School from 2014 to 2019 and Chairman of the Department of Finance from 2021 to 2023.
Before that he worked as the Synergis-Geoffrey Yeh Professor of Finance at the Hong Kong University of Science and Technology, where he served as the Head of Finance Department (2003-2013) and Acting Dean of HKUST Business School (2013-14). He was the Founding Director of the HKUST-NYU Stern Joint Master in Global Finance programme. Prior to joining HKUST, he was an Associate Professor of Finance at Arizona State University.
Professor Chan obtained his BSSc in Economics from CUHK, and PhD in Finance from Ohio State University. As a leading scholar and a prominent researcher, he has published in numerous top ranked finance journals, and has been ranked as the top finance researcher in the Asia-Pacific region. His research interests focus on dynamics of asset prices, derivatives, market micro-structure, and international financial markets.
Active on several public bodies in Hong Kong, Professor Chan is a past President of the Asian Finance Association, and currently serves on a number of committees including the Human Capital Committee of HK Financial Services and Development Council, TraHK Supervisory Committee, Hong Kong Academy of Finance and HKIMR Council of Advisers for Applied Research.
Publications
Journal Publications and Reviews
Chan, Kalok; Wang, Xiaowei / Corporate Tax Avoidance and Geographic Distance: Evidence From China. June 2023; In: Journal of Accounting, Auditing & Finance.
Bian, Jiangze; Chan, Kalok; Han, Bing; Shi, Donghui / Cross-border equity flows and information transmission: Evidence from Chinese stock markets. April 2023; In: Journal of International Financial Markets, Institutions & Money. Vol. 84
Chan, Kalok; Cheng, Si; Hameed, Allaudeen / Investor Heterogeneity and Liquidity. November 2022; In: Journal of Financial and Quantitative Analysis. Vol. 57, No. 7, pp. 2798-2833
Chan, Kalok; Ellul, Andrew; Goldstein, Itay; Holden, Craig; Piazzesi, Monika; Pontiff, Jeffrey / The Annual Report of the Society for Financial Studies for 2019-2020. June 2021; In: Review of Asset Pricing Studies. Vol. 11, No. 2, pp. 445-463
Chan, Kalok; Ellul, Andrew; Goldstein, Itay; Holden, Craig; Piazzesi, Monika; Pontiff, Jeffrey / The Annual Report of the Society for Financial Studies for 2019–2020. April 2021; In: The Review of Financial Studies. Vol. 34, No. 4, pp. 2161-2179
Chan, Kalok; Ellul, Andrew; Goldstein, Itay; Holden, Craig; Piazzesi, Monika; Pontiff, Jeffrey / The Annual Report of the Society for Financial Studies for 2019-2020. March 2021; In: Review of Corporate Finance Studies. Vol. 10, No. 1, pp. 252-271
Broadstock, David C.; Chan, Kalok; Cheng, Louis T.W.; Wang, Xiaowei / The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China. January 2021; In: Finance Research Letters. Vol. 38
Bian, Jiangze; Chan, Kalok; Fong, Wai-Ming / Investor participation and the volatility-volume relation: Evidence from an emerging market. December 2020; In: Emerging Markets Review. Vol. 45
Chan, Kalok; Wang, Baolian; Yang, Zhishu / Why investors do not buy cheaper securities: Evidence from a natural experiment. April 2019; In: Journal of Banking and Finance. Vol. 101, pp. 59-76
Chan, Kalok; Yang, Jian; Zhou, Yinggang / Conditional co-skewness and safe-haven currencies: A regime switching approach. September 2018; In: Journal of Empirical Finance. Vol. 48, pp. 58-80
Bian, Jiangze; Chan, Kalok; Shi, Donghui; Zhou, Hao / Do Behavioral Biases Affect Order Aggressiveness?. May 2018; In: Review of Finance. Vol. 22, No. 3, pp. 1121-1151
Cakici, Nusret; Chan, Kalok; Topyan, Kudret / Cross-sectional stock return predictability in China. February 2017; In: European Journal of Finance. Vol. 23, No. 7-9, pp. 581-605
Chan, Kalok; Chan, Yue-Cheong / Price informativeness and stock return synchronicity: Evidence from the pricing of seasoned equity offerings. 2014; In: Journal of Financial Economics. Vol. 114, No. 1, pp. 36-53
Chan, Kalok; Kot, Hung Wan; Tang, Gordon Y.N. / A comprehensive long-term analysis of S&P 500 index additions and deletions. December 2013; In: Journal of Banking and Finance. Vol. 37, No. 12, pp. 4920-4930
Cen, Ling; Chan, Kalok; Dasgupta, Sudipto; Gao, Ning / When the tail wags the dog: Industry leaders, limited attention, and spurious cross-industry information diffusion. November 2013; In: Management Science. Vol. 59, No. 11, pp. 2566-2585
Chan, Kalok; Hameed, Allaudeen; Kang, Wenjin / Stock price synchronicity and liquidity. August 2013; In: Journal of Financial Markets. Vol. 16, No. 3, pp. 414-438
Chan, Kalok; Covrig, Vicentiu / What determines mutual fund trading in foreign stocks?. June 2012; In: Journal of International Money and Finance. Vol. 31, No. 4, pp. 793-817
Chan, Kalok; Chung, Y. Peter / Asymmetric price distribution and bid-ask quotes in the stock options market. February 2012; In: Asia-Pacific Journal of Financial Studies. Vol. 41, No. 1, pp. 87-102
Chan, Kalok; Covrig, Vicentiu; Ng, Lilian / Does home bias affect firm value? Evidence from holdings of mutual funds worldwide. July 2009; In: Journal of International Economics. Vol. 78, No. 2, pp. 230-241
Chan, Kalok; Kot, Hung Wan; Li, Desmond / Portfolio concentration and closed-end fund discounts: Evidence from the China market. June 2008; In: Emerging Markets Review. Vol. 9, No. 2, pp. 129-143
Chan, Kalok; Menkveld, Albert J.; Yang, Zhishu / Information asymmetry and asset prices: Evidence from the China foreign share discount. February 2008; In: Journal of Finance. Vol. 63, No. 1, pp. 159-196
Chan, Kalok; Menkveld, Albert J.; Yang, Zhishu / The informativeness of domestic and foreign investors' stock trades: Evidence from the perfectly segmented Chinese market. November 2007; In: Journal of Financial Markets. Vol. 10, No. 4, pp. 391-415
Ahn, Hee-Joon; Cai, Jun; Chan, Kalok; Hamao, Yasushi / Tick size change and liquidity provision on the Tokyo Stock Exchange. June 2007; In: Journal of the Japanese and International Economies. Vol. 21, No. 2, pp. 173-194
Chan, Kalok; Rhee, S. Ghon / Editor's note. June 2006; In: Pacific Basin Finance Journal. Vol. 14, No. 3
Chan, Kalok; Hameed, Allaudeen / Stock price synchronicity and analyst coverage in emerging markets. April 2006; In: Journal of Financial Economics. Vol. 80, No. 1, pp. 115-147
Chan, Kalok; Covrig, Vicentiu; Ng, Lilian / What determines the domestic bias and foreign bias? Evidence from mutual fund equity allocations worldwide. June 2005; In: Journal of Finance. Vol. 60, No. 3, pp. 1495-1534
Chan, Kalok; Kwok, Johnny K.h. / Market Segmentation and Share Price Premium: Evidence from Chinese Stock Markets. April 2005; In: Communication Research. Vol. 4, No. 1, pp. 43-61
Chan, Kalok; Chan, Yue-Cheong; Fong, Wai-Ming / Free float and market liquidity: A study of Hong Kong government intervention. June 2004; In: Journal of Financial Research. Vol. 27, No. 2, pp. 179-197
Chan, Kalok; Wang, Junbo; Wei, K.C. John / Underpricing and long-term performance of IPOs in China. June 2004; In: Journal of Corporate Finance. Vol. 10, No. 3, pp. 409-430
Bae, Kee-Hong; Chan, Kalok; Ng, Angela / Investibility and return volatility. February 2004; In: Journal of Financial Economics. Vol. 71, No. 2, pp. 239-263
Chan, Kalok; Hameed, Allaudeen; Lau, Sie Ting / What if Trading Location Is Different from Business Location? Evidence from the Jardine Group. June 2003; In: Journal of Finance. Vol. 58, No. 3, pp. 1221-1246
Chan, K.; Karolyi, G. A.; Rhee, S. G. / A retrospective evaluation of the Pacific-Basin Finance Journal: 1993-2002. November 2002; In: Pacific Basin Finance Journal. Vol. 10, No. 5, pp. 497-516
Chan, Kalok; Chung, Y. Peter; Fong, Wai-Ming / The Informational Role of Stock and Option Volume. September 2002; In: Review of Financial Studies. Vol. 15, No. 4, pp. 1049-1075
Ahn, Hee-Joon; Bae, Kee-Hong; Chan, Kalok / Limit orders, depth, and volatility: Evidence from the stock exchange of Hong Kong. April 2001; In: Journal of Finance. Vol. 56, No. 2, pp. 767-788
Chan, Kalok; Chockalingam, Mark; Lai, Kent W.L. / Overnight information and intraday trading behavior: Evidence from NYSE cross-listed stocks and their local market information. December 2000; In: Journal of Multinational Financial Management. Vol. 10, No. 3-4, pp. 495-509
Chan, Kalok; Hameed, Allaudeen; Tong, Wilson / Profitability of momentum strategies in the international equity markets. June 2000; In: Journal of Financial and Quantitative Analysis. Vol. 35, No. 2, pp. 153-172
Bailey, Warren; Chan, Kalok; Chung, Y. Peter / Depositary receipts, country funds, and the peso crash: The intraday evidence. 2000; In: Journal of Finance. Vol. 55, No. 6, pp. 2693-2717
Chan, Kalok; Fong, Wai-Ming / Trade size, order imbalance, and the volatility-volume relation. 2000; In: Journal of Financial Economics. Vol. 57, No. 2, pp. 247-273
Bae, Kee-Hong; Chan, Kalok; Cheung, Yan-Leung / The profitability of index futures arbitrage: Evidence from bid-ask quotes. October 1998; In: Journal of Futures Markets. Vol. 18, No. 7, pp. 743-763
Bessembinder, Hendrik; Chan, Kalok / Market efficiency and the returns to technical analysis. June 1998; In: Financial Management. Vol. 27, No. 2, pp. 5-17
Chan, Kalok; McQueen, Grant; Thorley, Steven / Are there rational speculative bubbles in Asian stock markets?. May 1998; In: Pacific Basin Finance Journal. Vol. 6, No. 1-2, pp. 125-151
Bessembinder, Hendrik; Chan, Kalok; Seguin, Paul J. / An empirical examination of information, differences of opinion, and trading activity. January 1996; In: Journal of Financial Economics. Vol. 40, No. 1, pp. 105-134
Chan, Kalok; Chung, Y. Peter; Johnson, Herb / The Intraday Behavior of Bid-Ask Spreads For Nyse Stocks and Cboe Options. September 1995; In: Journal of Financial and Quantitative Analysis. Vol. 30, No. 3, pp. 329-346
Bessembinder, Hendrik; Chan, Kalok / The profitability of technical trading rules in the Asian stock markets. July 1995; In: Pacific-Basin Finance Journal. Vol. 3, No. 2-3, pp. 257-284
Chan, Kalok; Chung, Y.Peter / Vector autoregression or simultaneous equations model? The intraday relationship between index arbitrage and market volatility. April 1995; In: Journal of Banking and Finance. Vol. 19, No. 1, pp. 173-179
CHAN, KALOK; CHUNG, Y. PETER; JOHNSON, HERB / Why Option Prices Lag Stock Prices: A Trading‐based Explanation. December 1993; In: The Journal of Finance. Vol. 48, No. 5, pp. 1957-1967
CHAN, KALOK / Imperfect Information and Cross‐Autocorrelation among Stock Prices. September 1993; In: The Journal of Finance. Vol. 48, No. 4, pp. 1211-1230
Chan, Kalok; Chung, Y.Peter / Intraday relationships among index arbitrage, spot and futures price volatility, and spot market volume: A transactions data test. June 1993; In: Journal of Banking and Finance. Vol. 17, No. 4, pp. 663-687
Chan, Kalok; Chan, Yue-cheong / Price volatility in the Hong Kong stock market: a test of the information and trading noise hypothesis. May 1993; In: Pacific-Basin Finance Journal. Vol. 1, No. 2, pp. 189-201
Bessembinder, Hendrik; Chan, Kalok / Time-varying risk premia and forecastable returns in futures markets. October 1992; In: Journal of Financial Economics. Vol. 32, No. 2, pp. 169-193
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