Recent activities

• Seminar on The Source of Financial Crisis, by Robert Z. Aliber, Professor Emeritus, University of Chicago (March 21, 2014)
• Workshop on High-Frequency and Algorithmic Trading in Financial Markets (June 6, 2014)
• 2014 CityU Finance Conference (June 11-12, 2014)
• China's Economic Development and Economic Policies, by Prof. Gregory Chow, Princeton University (June 25, 2014)
• Conference on China’s financial market liberalization (September 18-19, 2014, Helsinki, Finland)
• The 2014 APJAE Symposium on Economic Development in Asia: FDI, Financial Market Architectures, and International Migration (September 27-28, 2014, Kokura, Japan)
• 8th International Workshop of Methods in International Finance Network (MIFN) (December 4-5, 2014, Paris, France)

• Conference on Renminbi and the Global Economy (May 23-24, 2013)
• The 2013 APJAE Symposium on Industrial Organization and Global Value Chains (June 19-20, 2013)
• An Academic Economist and An Economic Policy Advisor (August 15, 2013) by Prof. Gregory Chow, Princeton University
• International Conference on Pacific Rim Economies and the Evolution of the International Monetary Architecture (December 19-20, 2013)

• Cheung, Y.-W., and Fujii, E., “Exchange rate misalignment estimates-sources of differences”, International Journal of Finance and Economics, forthcoming.
• Huang, Q., Jiang, F. , Lie, E. and Yang, K, “The role of investment banker directors in M&A”, Journal of Financial Economics, forthcoming.
• Kwan, Y.K., J. Dong and C. Leung “Stock price dynamics of China: A structural estimation approach,” Emerging Markets and Trade, forthcoming.
• Kunieda, T., K. Okada and A. Shibata, “Finance and Inequality: How Does Globalization Change Their Relationship?”, Macroeconomic Dynamics, forthcoming.
• Luo, M., Chen, T., and Yan, I.K., 2013, “Price informativeness and institutional ownership: evidence from Japan”, Review of Quantitative Finance and Accounting, pp. 1-25, forthcoming.
• Preve, D. and Y. Tse, "Estimation of Time Varying Adjusted Probability of Informed Trading and Probability of Symmetric Order-Flow Shock", Journal of Applied Econometrics, forthcoming.
• Ma, Y., T. Beck and C. Lin, “Why Do Firms Evade Taxes? The Role of Information Sharing and Financial Sector Outreach”, Journal of Finance, forthcoming.
• Ma, Y., H. Tang and Y. Zhang, “Factor Intensity, Product Switching, and Productivity: Evidence from Chinese Exporters”, Journal of International Economics, forthcoming.
• Ma, Y., J. Houston, C. Lin, and L. Jiang, “Political Connections and the Cost of Bank Loans”, Journal of Accounting Research, forthcoming

• Chan, K., Lai, J., and Yan, I., 2013, “Is the provincial capital market segmented in China?”, Review of Development Economics, 17 (3), pp. 430-446.
• Chang, K.-L., Chen, N.-K., and Leung, C.K.Y., 2013, “In the Shadow of the United States: The International Transmission Effect of Asset Returns”, Pacific Economic Review, 18 (1), pp. 1-40.
• Chen, T., Wu, L., and Yan, I.K.-M., 2013, “On the use of international commodity futures spread for forecasting China's net imports of commodities”, World Economy, 36 (7), pp. 861-879.
• Cheung Y.-W., and Sengupta R., 2013, “Impact of exchange rate movements on exports: An analysis of Indian non-financial sector firms”, Journal of International Money and Finance, 39, pp. 231-245.
• Chung, Y., H.S. Na, and R. Smith, 2013, "How Important Is Capital Structure Policy to Firm Survival?", Journal of Corporate Finance, 22, 1, 83-103.
• Fang, Z., and X. Jiang, 2013, "Effects of Differences of Opinions and Short-sale Constraints on the Dual Listed Chinese Shares", China Finance Review International, Vol. 3, Iss. 1, pp 61-89.
• He, Y., Wang, J., and Wu, C., 2013, “Domestic versus foreign equity shares: Which are more costly to trade in the Chinese market?”, International Review of Economics and Finance, 27, pp. 465-481.
• Ho, W.-H., and Wang, Y., 2013, “Asymmetric Information, Auditing Commitment, and Economic Growth”, Canadian Journal of Economics, 46 (2), pp. 611-633.
• Kan, K., and Wang, Y., 2013, “Comparing China and India: A factor accumulation perspective”, Journal of Comparative Economics, 41 (3), pp. 879-894.
• Lai, J.T., McNelis, P.D., and Yan, I.K.M., 2013, “Regional capital mobility in China: Economic reform with limited financial integration,” Journal of International Money and Finance, 37, pp. 493-503.
• Lai, E.L.-C., and Yan, I.K.M., 2013, “Would global patent protection be too weak without international coordination?”, Journal of International Economics, 89 (1), pp. 42-54.
• Leung, C.K.Y., Shi, S., and Ho Tang, E.C., 2013, “Commodity house prices”, Regional Science and Urban Economics, 43 (6), pp. 875-887.
• Li, H., T. Li, and C. Yu, 2013, "No-Arbitrage Taylor Rules with Switching Regimes", Management Science, 59, 10, 2278-2294.
• Li, K.-W., 2013, “The US monetary performance prior to the 2008 crisis,” Applied Economics, 45 (24), pp. 3450-3461.
• Li, T., 2013, "Investors’ Heterogeneity and Implied Volatility Smiles", Management Science, 59, 10, 2392-2412.
• Lin, H., Wang, J., and Wu, C., 2013, “Liquidity risk and momentum spillover from stocks to bonds”, Journal of Fixed Income, 23 (1), pp. 5-42.
• Ma, Y., C. Lin, P. Malatesta, and Y. Xuan, 2013, “Corporate Ownership Structure and the Choice between Bank Debt and Public Debt”, Journal of Financial Economics, 109(2), pp.517-534,.
• Man, K., Wang, J., and Wu, C., 2013, “Price discovery in the U.S. Treasury market: Automation vs. intermediation”, Management Science, 59 (3), pp. 695-714.
• Mutlu, G., 2013, “Delay aversion under a general class of preferences”, Economics Letters, 121(2).
• Nucera, F., and Valente, G., 2013, “Carry trades and the performance of currency hedge funds”, Journal of International Money and Finance, 33, pp. 407-425.
• Sorger, G., Stark, O., and Wang, Y., 2013, “Migration and dynamics: How a leakage of human capital lubricates the engine of economic growth”, International Review of Economics and Finance, 28, pp. 26-37.

3. Visiting scholar program 

4. GRF