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Cheung Kong GSB
Faculty Brochure
October 2009
Table of Content
Preface
Research Ranking
Cheung Kong Faculty Introduction
Cheung Kong Faculty Biographies
Cheung Kong Faculty in the Media
About Cheung Kong GSB
Contact Us
Preface
The mission of Cheung Kong Graduate School of Business is to become a worldwide top ten research-oriented business school within 10 years of being created. Generous support from the Li Ka-shing Foundation since 2002 has ensured our status as a research driven institution, giving scholars the confidence to continue to produce significant articles after joining Cheung Kong, at the rate of more than 1.5 top journal article each in the past five years. Ranked alongside other leading business schools, Cheung Kong GSB’s output between 2003 and 2007 is sixth overall.
The Cheung Kong focus on research generates unique insight into the global ramifications of the rise of Chinese companies and the dynamics of competition and collaboration in China. This research is effectively translated into the classroom, where executives and managers enjoy China-focused case studies and modules such as strategy courses on the Globalization of Chinese Companies, finance courses on Chinese Capital Markets, and leadership courses on Confucian Humanism.
Cheung Kong GSB is now consolidating its position as the premier business school for research on emerging markets such as China and India. We are now partnering with top schools to expand our research coverage in Asia and beyond, including Korea, Japan, ASEAN, and Russia.
Strong, original, and innovative research are what set top-rank business schools apart from the rest. At Cheung Kong GSB, the faculty is committed to high quality, high impact, and ground-breaking research. Our faculty members publish in the most influential scholarly journals across all business disciplines. Rigorous research forms the cornerstone for fulfilling our educational responsibilities – expanding the frontiers of knowledge and ensuring that classroom learning combines cutting-edge insights with relevant current issues in today’s dynamic and volatile business environment.
Huining Henry Cao
Professor of Finance
Director of the Business Research Institute
Cheung Kong GSB
Research Ranking
Cheung Kong GSB adopts the methodology of the School of Management, University of Texas at Dallas (UTD) to measure research contributions of the school faculty based on publications in 24 leading academic journals, covering most major business disciplines.
According to UTD criteria, the Cheung Kong GSB faculty has a high ranking according to average scores and average articles per professor. In comparison with business schools in the worldwide ranking, Cheung Kong GSB can be placed as follows:
Fourth by average number of articles when only regular faculty publications are included.
Thirteen by average score when only regular faculty members are included.
First by average number of articles when all faculty members including visiting and adjunct professor are included.
Sixth by average score when all faculty members including visiting and adjunct professors are included.
Top Worldwide Business School Rankings
Based on Research Contributions
(2003-2007)
University Faculty Country
Full-time
Average Articles Average Score Adjunct or Visiting
Full-time +Adjunct or Visiting
Average Articles Average Score
Duke University (The Fuqua School of Business) 118 1.686441 0.890678 30 148 1.344595 0.7101351 USA
University of California at Los Angeles (Anderson School of Management) 94 1.37234 0.771915 10 104 1.240385 0.6976923 USA
Stanford University (Graduate School of Business) 125 1.264 0.68024 6 131 1.206107 0.649084 USA
Massachusetts Institute of Technology (Sloan School of Management) 130 1.223077 0.678462 11 141 1.12766 0.6255319 USA
University of Minnesota at Twin Cities (Carlson School of Management) 105 1.266667 0.693524 12 117 1.136752 0.6223932 USA
Cheung Kong Graduate School of Business 19 1.368421 0.587895 16 35 1.371429 0.62 CHINA
Pennsylvania State University at University Park (Smeal College of Business) 89 1.516854 0.816629 33 122 1.106557 0.5957377 USA
University of Chicago (Graduate School of Business) 123 1.292683 0.804065 49 172 0.924419 0.575 USA
University of Maryland at College Park (Robert H. Smith School of Business) 138 1.217391 0.682609 36 174 0.965517 0.5413793 USA
Emory University (Goizueta Business School) 79 1.253165 0.667468 19 98 1.010204 0.5380612 USA
University of Washington at Seattle (Business School) 56 1.75 0.897857 40 96 1.020833 0.52375 USA
University of Michigan at Ann Arbor (Ross School of Business) 141 1.212766 0.658227 42 183 0.934426 0.5071585 USA
Harvard University (Harvard Business School) 197 0.84264 0.517005 10 207 0.801932 0.492029 FRANCE
Michigan State University (The Eli Broad College of Business) 108 0.962963 0.535 12 120 0.866667 0.4815 USA
London Business School 88 1.125 0.598636 31 119 0.831933 0.4426891 USA
University of Pennsylvania (The Wharton School) 240 1.2625 0.705167 143 383 0.791123 0.4418799 USA
Columbia University (Graduate School of Business) 116 1.543103 0.853621 116 232 0.771552 0.4268103 USA
University of Illinois at Urbana-Champaign (College of Business) 108 0.962963 0.531852 33 141 0.737589 0.4073759 USA
University of Texas at Austin (McCombs School of Business) 150 1.093333 0.589867 73 223 0.735426 0.3967713 USA
Carnegie Mellon University (Tepper School of Business) 95 1.084211 0.543684 37 132 0.780303 0.3912879 USA
University of North Carolina at Chapel Hill (Kenan-Flagler Business School) 104 1.144231 0.565192 52 156 0.762821 0.3767949 USA
University of Texas at Dallas (School of Management) 125 0.76 0.442 27 152 0.625 0.3634868 USA
University of Florida (Warrington College of Business) 135 0.703704 0.397037 18 153 0.620915 0.3503268 USA
Indiana University at Bloomington (Kelley School of Business) 139 0.719424 0.380791 16 155 0.645161 0.3414839 USA
INSEAD 143 0.986014 0.549161 90 233 0.60515 0.3370386 United Kingdom
New York University (Leonard N. Stern School of Business) 218 1.03211 0.534495 138 356 0.632022 0.3273034 USA
Ohio State University (Fisher College of Business) 108 0.935185 0.46963 55 163 0.619632 0.3111656 USA
USC (Marshall School of Business) 219 0.634703 0.372192 48 267 0.520599 0.3052809 USA
Northwestern University (Kellogg School of Management) 178 0.764045 0.432753 81 259 0.525097 0.2974131 USA
University of California at Berkeley (Walter A. Haas School of Business) 80 1.2375 0.643375 108 188 0.526596 0.2737766 Canada
University of Toronto (Joseph L. Rotman School of Management) 169 0.491124 0.288521 15 184 0.451087 0.265 Canada
UTD Methodology
UT Dallas' School of Management provides a tool to study research contributions based on publications in 24 leading journals in major business disciplines. The database contains author and affiliation information on all papers published in these journals since 1990. Authors' affiliations are recorded at the time of the paper publication.
A single-authored paper results in the school of affiliation being credited with a score of 1. If there are multiple authors, the school gets a score of 1/n, where n is the number of authors, for each faculty member. If an author lists multiple affiliations, each of the schools that the author is affiliated with gets a corresponding scaled score. For example, if one of the n authors lists m affiliations, each school that author is affiliated with gets a score of 1/nm.
The database can be searched by any period between 1990 to the current year for any combination of journals, resulting in aggregated scores for schools. This provides a clear picture of contributions from each school for the selected journals and time period. One can also search the database by school name, author name and key phrases in the title.
The School of Management also provides a ranking of the top 100 schools in North America and worldwide based on publications in all 24 journals for the last five-year time period. The school also provides links to prior rankings starting with the period 2000-2004.
--- Cited from UTD Website
List of Leading Journals
Accounting
Accounting Review
Journal of Accounting and Economics
Journal of Accounting Research
Review of Accounting Studies
Economics
American Economic Review
Econometrica
Journal of Political Economy
Quarterly Journal of Economics
Review of Economic Studies
Finance
Journal of Business (through Nov. 2006)
Journal of Finance
Journal of Financial Economics
Review of Financial Studies
Information Systems
Information Systems Research
MIS Quarterly
Management
Academy of Management Journal
Academy of Management Review
Administrative Science Quarterly
Organization Science
Strategic Management Journal
Marketing
Journal of Consumer Research
Journal of Marketing Research
Marketing Science
Operations
Manufacturing and Service Operations Management
Mathematics of Operations Research
Operations Research
Multiple Disciplines
Management Science
List of Field Journals
Accounting
Contemporary Accounting Research
Economics
American Economic Review Proceedings
Journal of Econometrics
Journal of Economic Theory
Journal of Labor Economics
Journal of Law and Economics
Journal of Monetary Economics
RAND Journal of Economics
Review of Economics and Statistics
Finance
Journal of Financial & Quantitative Analysis
Review of Finance
Information Systems
Information Systems Research
MIS Quarterly
Management
Journal of International Business Studies
Marketing
Quantitative Marketing and Economics
Journal of Marketing
Statistics/Math
Annals of Statistics
Journal of American Statistical Association
Psychology
Journal of Applied Psychology
Journal of Experimental Psychology (All)
Journal of Experimental Social Psychology
Journal of Personality and Social Psychology
Organizational Behavior and Human Decision Process
Personality and Social Psychology Bulletin
Personality and Social Psychology Review
Psychological Bulletin
Psychological Review
Psychological Science
Cheung Kong Faculty
Cheung Kong Graduate School of Business's greatest strength is its growing number of world-class faculty members. Over the past five years, 44 faculty members have joined Cheung Kong GSB full-time from some of the world's top business schools, including INSEAD, Wharton, Stanford, and Yale. Scholars join as equals, governing the school together through academic and administrative committees and research centers.
They have chosen to join Cheung Kong GSB on a permanent basis because they believe that Cheung Kong GSB provides the best platform for cutting-edge teaching and research on competition and collaboration in emerging markets in China and Asia. The majority of full-time faculty members at Cheung Kong GSB also have extensive experience consulting for corporations in China.
This unique and diverse faculty portfolio makes it possible for Cheung Kong GSB to deliver a world-class management education integrating the global management theories that underlie management education with real issues faced by Chinese business.
Faculty Biographies
1. Regular Professors
Cao Huining (Henry)
曹辉宁
Professor of Finance
Ph.D.'s, UCLA and Yale University
Introduction
Dr. Henry Cao is a professor of Finance at Cheung Kong GSB. He earned his Finance Ph.D.. in 1995 from UCLA, and in 1991 earned a second Ph.D. in pathology from Yale University. Before joining Cheung Kong GSB, Dr. Cao taught at UC Berkeley and UNC Chapel Hill. His work has been widely published in academic journals including Journal of Finance, Review of Financial Studies, and Journal of Financial Economics. Dr. Cao is the co-editor of International Financial Review and sits on the editorial board of Annals of Economics and Finance and China Financial Review. He has received numerous awards for teaching and research excellence including nominations for the Smith Breeden Award in 1998 and in 2000 for the best paper published in the Journal of Finance.
Research Interests
Asset Pricing, International Finance, Microstructure, Options Pricing
Selected Publications
1. "Fear of The Unknown: The Effects of Familiarity on Financial Decisions", with Hirshleifer, David & Zhang, Harold H., Review of Finance, forthcoming.
2. " ortfolio Performance Measurement: A No Arbitrage Bounds Approach", with Ahn, Dong-Hyun & Chretien, Stephane, European Financial Managements, vol. 15 (2), pp. 298-339, 2009.
3. "Differences of Opinion of Public Information and Speculative Trading in Stocks and Options", with Ou-Yang, Hui, Review of Financial Studies, vol. 22 (1), pp. 299-335, 2009. (Placed third in the best paper award at CIFC in 2004 and judged best paper in the “most relevant to practitioners” category at WFA in 2005)
4. "Inventory Information", with Evans, Martin & Lyons, Rich, Journal of Business, vol. 79, pp. 325-364, 2006.
5. "Model Uncertainty, Limited Market Participation and Asset Prices", with Wang, Tan & Zhang, Harold H., Review of Financial Studies, pp. 1219 – 1251, 2005.
6. "The Dynamics of International Equity Market Expectations", with Brennan, Michael J., Strong, Norman & Xu, Xinzhong, Journal of Financial Economics, pp. 257-288, 2005.
7. "roduct Strategy for Innovators in Markets with Network Effects", with Sun, B. & Xie, J., Marketing Science, pp. 243-254, 2004.
8. "Sidelined Investors, Trading-Generated News, and Security Returns", with Coval, J. & Hirshleifer, D., Review of Financial Studies, vol. 15, pp. 615-648, 2002.
9. "Imperfect Competition Among Informed Traders", with Back, K. & Willard, G., Journal of Finance, vol. 5, pp. 2117-2155, 2000. (Nominated for the Smith-Breeden Prize)
10. "The Effect of Derivative Assets on Endogenous Information Acquisition and Price Behavior in a Rational Expectations Equilibrium", Review of Financial Studies, vol. 12, pp. 131-163, 1999.
11. "International Portfolio Investment Flows", with Brennan, Michael J. (ed. Roll, Richard), Journal of Finance, vol. 52, pp. 1851-1880, 1997. (Nominated for Smith-Breeden Prize. Best paper award in emerging market research at NFA. Reprinted in the International Library of Critical Writings in Financial Economics)
12. "Information, Trade, and Derivative Securities", with Brennan, Michael J., Review of Financial Studies, vol. 9, pp. 163-208, 1996.
Chiang Jeongwen
蒋炯文
Professor of Marketing
Ph.D., University of Minnesota
Introduction
Dr. Chiang is a marketing professor at Cheung Kong GSB. He previously taught at the National University of Singapore and served on the faculties of the University of Rochester, Washington University in Saint Louis and Hong Kong University of Science and Technology. His work has been published in leading academic journals including Marketing Science, Strategy Management Journal and Journals of Econometrics. Dr. Chiang has taught executive education programs for companies including Hainan Airlines and China Mobile, and he consults for multinational companies such as Xerox, Merck, and HSBC.
Research Interests
Competitive Analysis, Consumer Choice, Market Forecasting, New Product Development
Selected Publications
1. "The Effects of the Dimensions of Technology Readiness on Technology Acceptance: An Empirical Analysis", with Lam, S. Y. & Parasuraman, A., Journal of Interactive Marketing, vol. 22, 2008.
2. "rice Competition with Reduced Consumer Switching Costs: The Case of ‘Wireless Number Portability’ in the Cellular Phone Industry", with Rhee, Byong Duk & Shi, Mengze, Management Science, vol. 52 (1), pp. 27-38, 2006.
3. "roduct Innovation Strategies for Established Market Pioneers and Later Entrants", with Robinson, W. T., Strategy Management Journal, vol. 23 (9), pp. 855-866, 2002.
4. "The Decomposition of Promotional Response: An Empirical Generalization", with Bell, D. & Padmanabhan, V., Marketing Science, vol. 18 (4), pp. 504-526, 1999.
5. "Markov Chain Monte Carlo and Models of Consideration Set and Parameter Heterogeneity", with Chib, S. & Narasimhan, C., Journal of Econometrics, vol. 89, pp. 223-248, 1999.
6. "Competing Coupon Promotions and Category Sales", Marketing Science, vol. 14 (1), pp. 105-122, 1995.
7. "Discrete/Continuous Models of Consumer Demand with Binding Non-Negativity Constraints", with Lee, L.F., Journal of Econometrics, vol. 54, pp. 79-93, 1992.
8. "A Simultaneous Approach to the Whether, What and How Much to Buy Questions", Marketing Science, vol. 10 (4), pp. 297-315, 1991.
9. "Transportation Costs in International Trade Theory: A Comparison with the Analysis of Nontraded Goods - A Note", with Mai, C.C., Quarterly Journal of Economics, vol. 2, pp. 349-352, May 1983.
Huang Ming
黄明
Professor of Finance
Ph.D.'s, Stanford University, Cornell University
Introduction
Dr. Huang received a Ph.D. in Finance from Stanford University in 1996 and a Ph.D. in Physics from Cornell University in 1991. He is also professor of Finance with tenure at Cornell University and has previously taught at Stanford University GSB and Chicago University GSB. His research focuses on behavioral finance and the applications of cognitive psychology to understanding financial asset pricing, and has been published in Quarterly Journal of Economics, the American Economic Review, Journal of Finance, and Journal of Political Economy. He serves on the editorial board of the American Economic Review. Dr. Huang has rich experience in executive teaching and consulting in mainland China, Japan, and the United States and has been awarded for outstanding research and teaching.
Research Interests
Asset Pricing, Behavioral Finance, Credit Risk, Derivatives, Liquidity
Selected Publications
1. "references with Frames: A New Utility Specification that Allows for the Framing of Risks", with Barberis, Nicholas, Journal of Economic Dynamics and Control, vol. 33, pp. 1555-1576, August 2009.
2. "Stocks as Lotteries: The Implications of Probability Weighting for Security Prices", with Barberis, Nicholas, American Economic Review, December 2008.
3. "The Loss Aversion / Narrow Framing Approach to the Equity Premium Puzzle", with Barberis, Nicholas, Handbook of the Equity Risk Premium, edited by Mehra, Raj, Elsevier, 2008.
4. "Individual Preferences, Monetary Gambles, and Stock Market Participation: A Case for Narrow Framing", with Barberis, Nicholas & Thaler, Richard, American Economic Review, vol. 96, pp. 1069-90, September 2006.
5. "Talking up Liquidity: Insider Trading and Investor Relations", with Hong, Harrison, Journal of Financial Intermediation, vol. 14, pp. 1-31, January 2005.
6. "Does Fund Size Erode Performance? Liquidity, Organizational Diseconomies and Active Money Management", with Chen, Joseph, Hong, Harrison, & Kubik, Jeffrey D., American Economic Review, vol. 94, pp. 1276-1302, December 2004.
7. "Liquidity Shocks and Equilibrium Liquidity Premia", Journal of Economic Theory, vol. 109, pp. 104-129, March 2003.
8. "Mental Accounting, Loss Aversion, and Individual Stock Returns", with Barberis, Nicholas, Journal of Finance, vol. 56, pp. 1247-1292, August 2001.
9. "rospect Theory and Asset Prices", with Barberis, Nicholas & Santos, Tano, Quarterly Journal of Economics, vol. 116, pp. 1-53, February 2001. (Lead article of the issue; awarded the 2000 FAME Research Prize)
10. "Toeholds and Takeovers", with Bulow, Jeremy & Klemperer, Paul, Journal of Political Economy, vol. 107, pp. 427-454, June 1999.
11. "Swap Rates and Credit Quality", with Duffie, Darrell, Journal of Finance, vol. 51, pp. 921-949, July 1996.
Jing Bing
荆兵
Assistant Professor of Marketing
Ph.D., University of Rochester
Introduction
Dr. Jing earned his Ph.D. in Business Administration from the University of Rochester in 2001. He previously taught at Stern School of Business, New York University. Dr. Jing is a member of the editorial board of Marketing Science. Many of his works have appeared in leading academic journals such as Management Science, Marketing Science, Quantitative Marketing and Economics, Journal of Economics and Management Strategy.
Research Interests
Mass Customization, Information Goods Versioning, Price Dispersion and Promotions, Product Line, Product Positioning
Selected Publications
1. "utting One-to-One Marketing to Work: Personalization, Customization and Choice, Marketing Letters", with Arora, Neeraj, et al., Marketing Letters, vol. 19 (3), pp. 305-321, 2008.
2. "Finitely Loyal Customers, Switchers and Equilibrium Price Promotion", with Zhong, Wen, Journal of Economics and Management Strategy, Fall 2008.
3. "roduct Differentiation under Imperfect Information: When Does Offering a Lower Quality Pay?", Quantitative Marketing and Economics, March 2007.
4. "Network Externalities and Market Segmentation in a Monopoly", Economics Letters, April 2007.
5. "On the Profitability of Firms in a Differentiated Industry", Marketing Science, May-June 2006.
6. "roduct Customization and Price Competition on the Internet", with Dewan, Rajiv & Seidmann, Abraham, Management Science, Aug 2003.
7. "Adoption of Internet-based Product Customization and Pricing Strategies", with Dewan, Rajiv & Seidmann, Abraham, Journal of Management Information Systems, Fall 2000.
Liu Jing
刘劲
Professor of Accounting and Finance
Associate Dean of Cheung Kong GSB
Ph.D., Columbia University
Introduction
Jing Liu is associate dean and professor of Accounting and Finance at Cheung Kong GSB. He is currently on leave from UCLA Anderson School of Management, where he is a tenured member of the faculty. Dr. Liu holds a Ph.D. in Business Administration from Columbia Business School in New York. His research focuses on capital markets, corporate finance, and investments. He is an internationally recognized expert on securities analysis and equity valuation. In addition to his publications and editorial responsibilities in academic journals, he frequently contributes to the financial press in and outside China. Translating research into practice, he has consulted extensively with major financial firms on Wall Street and in China. Dr. Liu is a recipient of the 2005 Eric and “E” Juline Faculty Excellence in Research Award from UCLA, and the 2007 Barclays Global Investors Award for Best Research Paper from the Review of Accounting Studies.
Research Interests
Financial Accounting, Corporate Finance, Equity Valuation, Chinese Economic Reforms
Selected Publications
1. "On the Relation between Expected Returns and Implied Cost of Capital", with Hughes, John & Liu, Jun, Review of Accounting Studies, 2008.
2. "On the Relation between Predictable Market Returns and Predictable Analysts’ Forecast Errors", with Hughes, John & Su, Wei, Review of Accounting Studies, 2008. (Winner of the BGI best paper award)
3. "Are Executive Stock Option Exercises Driven by Private Information?", with Aboody, David, Hughes, John & Su, Wei, Review of Accounting Studies, 2008.
4. "Information Asymmetry, Diversification and Cost of Capital", with Hughes, John & Liu, Jun, Accounting Review, 2007.
5. "Cash Flow is King? Comparing Valuations Based on Cash Flow Versus Earnings Multiples", with Nissim, Doron & Thomas, Jacob, Financial Analyst Journal, 2007.
6. "On International Accounting Valuation", Journal of International Accounting Research, 2006.
7. "Earnings Quality, Insider Trading and Cost of Capital", with Aboody, David and Hughes, Jack, Journal of Accounting Research, 2005.
8. "Discussion of ‘The Role of Changes in Expectations in Explaining the Cross-section of Returns", Review of Accounting Studies, September 2004.
9. "Valuation and Accounting for Inflation and Foreign Exchange", with Hughes, John & Zhang, Mingshan, Journal of Accounting Research, September 2004.
10. "Measuring Value Relevance in a (Possibly) Inefficient Market", with Aboody, David & Hughes, John, Journal of Accounting Research, September 2002.
11. "Equity Valuation Using Multiples", with Nissim, Doron & Thomas, Jacob, Journal of Accounting Research, March 2002.
12. "The Feltham-Ohlson (1995) Model: Empirical Implications", with Ohlson, James, Journal of Accounting, Auditing and Finance, vol. 15 (3), pp. 332-335, Summer 2000.
13. "Stock Returns and Accounting Earnings", with Thomas, Jacob, Journal of Accounting Research, Spring 2000.
Liu Jun
刘俊
Professor of Finance
Ph.D's, Stanford University and University of Texas at Austin
Introduction
Dr. Liu is a professor of finance at Cheung Kong GSB. He is also a tenured associate professor at Rady School of Management of UCSD. Prior to that, he taught at Anderson School of Management, UCLA. His work has been published in finance journals such as Journal of Finance, Review of Financial Studies, Journal of Financial Economics, and Review of Accounting Studies. Dr. Liu won the Michael Brennan Award for the best paper published in Review of Financial Studies in 2005. His papers have been widely cited and have made a significant impact among both academics and practitioners.
Research Interests
Econometrics, Theoretical and Empirical Asset Pricing
Selected Publications
1. "Information, Expected Utility, and Portfolio Choice", Journal of Financial and Quantitative Analysis, forthcoming.
2. "Debt Policy, Corporate Taxes, and Discount Rates", with Grinblatt, Mark, Journal of Economic Theory, vol. 141, pp. 225-254, July 2008.
3. "On the Relation between Expected Returns and Implied Cost of Capital", with Hughes, John, Review of Accounting Studies, 2008.
4. "Risk, Return and Dividends", with Ang, Andrew, Journal of Financial Economics, vol. 8 (2), pp. 1-38, August 2007.
5. "ortfolio Selection in Stochastic Environments", Review of Financial Studies, vol. 20 (1), pp. 1-39, January 2007.
6. "The Market Price of Credit Risk: An Empirical Analysis of Interest Rate Swap Spreads", with Longstaff, Francis & Mandell, Ravit E., Journal of Business, vol. 79 (5), pp. 2337-2369, 2006.
7. "Why Stocks May Disappoint", with Ang, Andrew & Bekaert, Geert, Journal of Financial Economics, vol. 76 (3), pp. 471-508, 2005.
8. "An Equilibrium Model of Rare Event Premia", with Pan, Jun & Wang, Tan, Review of Financial Studies, vol. 18 (1), pp. 131-164, Spring 2005.
9. "Information, Diversification, and Asset Pricing", with Liu, Jing & Hughes, Jack, Accounting Review, vol. 82 (3), pp. 705-730, 2005.
10. "How to Discount Cashflows with Time-Varying Expected Returns", with Ang, Andrew, Journal of Finance, vol. 59 (6), pp. 2745-2783, December 2004.
11. "Losing Money on Arbitrages: Optimal Dynamic Portfolio Choice in Markets with Arbitrage Opportunities", with Longstaff, Francis, Review of Financial Studies, vol. 17 (3), pp. 611-641, Fall 2004.
12. "Conditional Information and Variance Bounds on Pricing Kernels", with Bekaert, Geert, Review of Financial Studies, vol. 17 (2), pp. 339-378, Summer 2004.
13. "Dynamic Derivative Strategies", with Pan, Jun, Journal of Financial Economics, vol. 69 (3), pp. 401-430, September 2003.
14. "Paper Millionaires: How Valuable is Stock to a Stockholder Who is Restricted from Selling it?", with Kahl, Matthias & Longstaff, Francis, Journal of Financial Economics, vol. 67 (3), pp. 385-410,March 2003.
15. "Dynamic Asset Allocation with Event Risk", with Longstaff, Francis & Pan, Jun, Journal of Finance, vol. 58 (1), pp. 231-259, February 2003.
16. "A Generalized Earning Model of Stock Valuation", with Ang, Andrew, Review of Accounting Studies, vol. 6 (4), pp. 397-425, December 2001.
Li Lode
李乐德
Professor of Operations Management
Ph.D., Northwestern University
Introduction
Dr. Li received Ph.D. in Management Economics and Decision Sciences from Northwestern University in 1984. He is also professor of Operations Management at Yale University and has previously taught at Massachusetts Institute of Technology, Northwestern University and Hong Kong University of Science and Technology. Dr. Li is on the editorial board at Management Science and Operation Research. His research has been regularly published in top journals since 1985.
Research Interests
Operations Management and Strategy, Game Theory, Stochastic Process and Control, Supply Chain Management, Service Operations, Management of International Manufacturing Networks
Selected Publications
1. "Confidentiality and Information Sharing in Supply Chain Coordination", with Zhang, H., Management Science, vol. 54 (8), pp. 1467-1481, 2008.
2. "Price and Delivery Logistics Competition in a Supply Chain", with Ha, A. & Ng, S. M., Management Science, vol. 49 (9), pp. 1139-1153, 2003.
3. "Information Sharing in a Supply Chain with Horizontal Competition", Management Science, vol. 48 (9), pp. 1196-1212, 2002.
4. "Optimal Operating Policies for Multi-Plant Stochastic Manufacturing Systems in a Changing Environment", with Porteus, E. L. & Zhang, H., Management Science, vol. 47 (11), pp. 1539-1551, 2001.
5. "The Multi-Stage Service Facility Startup and Capacity Model", with Zhang, H., Operations Research, vol. 48 (3), pp. 490-497, 2000.
6. "Optimal Operating Policies in the Presence of Exchange Rate Variability", with Dasu, S., Management Science, vol. 43 (5), pp. 705-722, 1997.
7. "Pricing, Production, Scheduling and Delivery-Time Competition", with Lederer, P. J., Operation Research, vol. 45 (3), pp. 407-720, 1997.
8. "The Service Facility Startup and Capacity Model and Its Application to the National Cranberry Case", with Wang, X., Operations Research, vol. 44 (1), pp. 60-172, 1996.
9. "Pricing and Delivery-Time Performance in a Competitive Environment", with Lee, Yew Sing, Management Science, vol. 40 (5), pp. 633-646, 1994.
10. "The Role of Inventory in Delivery-Time Competition", Management Science, vol. 38, pp. 182-197, 1992.
11. "Subcontracting, Coordination, Flexibility, and Production Smoothing in Aggregate Planning", with Kamien, M. Management Science, vol. 36 (11), pp. 1353-1363, 1991.
12. "Continuous Time stopping Games with Monotone Reward Structures", with Huang, C., Mathematics of Operations Research, vol. 15 (3), pp. 496-507, 1990.
13. "Bertrand Competition with Subcontracting", with Kamien, M. & Samet, S., Rand Journal of Economics, vol. 20 (4), pp. 553-567, 1989.
14. "A Stochastic Theory of the Firms", Mathematics of Operations Research, vol. 13 (3), pp. 447-466, 1988.
15. "On the Allocation of Fixed and Variable Cost From Service Departments", with Balachandran, B. & Magee, R., Contemporary Accounting Research, vol. 4 (1), pp. 164-185, 1987.
16. "Optimal Research for Cournot Oligopolists", with Mckelvey, D. & Page, T., Journal of Economic Theory, vol. 42 (1), pp. 140-166, 1987.
17. "Cournot Oligopoly with Information Sharing", Rand Journal of Economics, vol. 16 (4), pp. 521-536, 1985.
Li Wei
李伟
Professor of Economics
Ph.D., University of Michigan
Introduction
Dr. Li is a professor of Economics at Cheung Kong GSB. He is also professor of Business Administration at the Darden Graduate School of Business, University of Virginia, and has previous taught at Duke University’s Fuqua School of Business. His research has appeared in many top international journals including the Journal of Political Economy, American Economic Review, Rand Journal of Economics, Journal of Law and Economics, Journal of Public Economics, and Journal of Comparative Economics. Dr. Li is also an author of the book, Investing in Emerging Markets published by the CFA Institute. He is on the editorial board of Journal of Comparative Economics.
Research Interests
Taxation and Economic Development, Corporate Governance, Corporate Social Responsibility, Chinese Economy and Business
Selected Publications
1. "Tax Structures in Developing Countries: Puzzles and Possible Explanations", with Gordon, Roger H., Journal of Public Economics, vol. 93, pp. 855-866, August 2009.
2. "Maoist Economics", in The New Palgrave: A Dictionary of Economics, Second Edition. Eds. Durlauf, Steven N. & Blume, Lawrence E., Palgrave Macmillan, 2008.
3. "Market Integration in Developed and Emerging Markets: Evidence from the CAPM", with Bruner, Robert F., Kritzman, Mark, Myrgren, Simon & Page, Sebastien, Emerging Markets Review, vol. 9, pp. 89-103, 2008.
4. "Trade, Technology, and China’s Rising Skill Demand", with Xu, Bin, Economics of Transition, vol. 16, pp. 59-84, January 2008.
5. "Comments on ‘Measuring the Effectiveness of Fiscal Policy in Korea’", in Takatoshi, Ito and Rose, Andrew (eds.), Fiscal Policy and Management in East Asia, NBER-East Asia Seminar on Economics vol. 16, 2007.
6. "Puzzling Tax Structure in Developing Countries: A Comparison of Two Alternative Explanations", with Gordon, Roger H., in Takatoshi, Ito and Rose, Andrew (eds.), Fiscal Policy and Management in East Asia, NBER-East Asia Seminar on Economics vol. 16, 2007.
7. "Taxation and Economic Growth in China", with Gordon, Roger H., in Critical Issues in China’s Growth and Development, Ashgate, 2005.
8. "Regulatory Reforms in the Telecommunications Sector in Developing Countries: The Role of Democracy and Private Interests", with Qian, Christine & Xu, Lixin Colin, World Development, vol. 33, pp. 1307–1324, August 2005.
9. "The Great Leap Forward: Anatomy of a Central Planning Disaster", with Yang, Dennis Tao, Journal of Political Economy, vol. 113, pp. 840–877, August 2005.
10. "The Impact of Privatization and Competition in the Telecommunications Sector around the World", with Xu, Lixin Colin, Journal of Law & Economics, vol. 47, pp. 395–430, October 2004.
11. "Globalization, State-Owned Enterprise Reform, and China’s Wage Inequality",with Xu, Bin, in Hua Min & Li Weisen, (eds), Economic Globalization and China, 2003.
12. "Government as a Discriminating Monopolist in the Financial Market: The Case of China", with Gordon, Roger H., Journal of Public Economics, vol. 87, pp. 283-312, 2003.
13. "Introduction to ‘Valuation in Emerging Markets’ ", with Bruner, Robert F., Conroy, Robert M., Estrada, Javier, and Kritzman, Mark, Emerging Markets Review, vol. 3, pp. 310–324, December 2002.
14. "The Political Economy of Privatization and Competition: Cross-Country Evidence from the Telecommunications Sector", with Xu, Lixin Colin, Journal of Comparative Economics, vol. 30, pp. 1–25, September 2002. (Lead Article)
15. "Corruption During the Economic Transition in China", in Della Porta, Donatella and Rose-Ackerman, Susan (eds.), Corrupt Exchanges: Empirical Themes in the Politics and Political Economy of Corruption, Chapter 9, pp. 160-177, Nomos Verlag, Germany (Interdisziplinare Studien zu Recht und Staat #23), August 2002
16. "Tax Rights in Transition Economies: A Tragedy of the Commons?", with Berkowitz, Daniel, Journal of Public Economics, vol. 76, pp. 369–97, June 2000.
17. "A Tale of Two Reforms", Rand Journal of Economics, vol. 30, pp. 120-136, Spring 1999.
18. "The Impact of Economic Reforms on the Performance of Chinese State-Owned Enterprises", Journal of Political Economy, vol. 105, pp. 1080–1106, October 1997.
19. "Selection of Children to Provide Care: The Effects of Earlier Parental Transfers", with Henretta, John C., Hill, Martha, Soldo, Beth & Wolf, Douglas A., The Journals of Gerontology: Series B, Psychological Sciences and Social Sciences, vol. 52(B), pp. 110-119, 1997.
20. "Deadweight Loss", The Blackwell Encyclopedia of Management: Managerial Economics, vol. VIII, Second Edition, Edited by Robert E. McAuliffe, Blackwell Publishing Co. (1997). (Also appeared in The Blackwell Encyclopedic Dictionary of Managerial Economics, and The Concise Blackwell Encyclopedia of Management)
21. "Asymptotic Equivalence of Estimators of Average Derivative", Economic Letters, vol. 52, pp. 241–45, September 1996.
22. "The Change in Productivity of Chinese State Enterprises, 1983–1987", with Gordon, Roger H., Journal of Productivity Analysis, vol. 6, pp. 5–26, April 1995, (Lead Article)
23. "Chinese Enterprise Behavior under the Reforms", with Gordon, Roger H., American Economic Review (Papers and Proceedings), vol. 81, pp. 202–6, May 1991.
Mei Jianping
梅建平
Professor of Finance
Ph.D., Princeton University
Introduction
Dr. Mei earned his Economics Ph.D. from Princeton University. Before joining Cheng Kong GSB, he taught at Stern School of Business, New York University and was Director of the CCFR Real Estate Research Program at Tsinghua University. Dr. Mei has published over 30 articles in top academic journals including American Economic Review, Journal of Finance, Review of Financial Studies, and Journal of Financial Economics. Additionally, Dr. Mei has received several "Best Research Paper Award" from various academic organizations. He is the principal developer of the "Mei-Moses Fine Art Price Indices", the internationally recognized metric for tracking fine art prices and adopted by several major US and overseas banks for private banking.
Research Interests
International Asset Pricing, Real Asset Finance
Selected Publications
1. "Turning Over Turnover", with Cremers, M., Review of Financial Studies, vol. 20(6), pp. 1749-1782, 2007.
2. "Market Manipulation: A Comprehensive Study of Stock Pools", with Jiang, G. & Mahoney, P., Journal of Financial Economics, vol. 77, pp. 147-170, 2005.
3. "Vested Interests and Biased Price Estimates: Evidence from an Auction Market", with Moses, M., Journal of Finance, vol. 60, pp. 2409-2436, 2005.
4. "Art As Investment and the Underperformance of Masterpieces: Evidence From 1875-2000", with Moses, M., American Economic Review, pp. 1656-1668, December 2002.
5. "Have U.S. Financial Institutions' Real Estate Investments Exhibited 'Trend-Chasing' Behavior?", with Saunders, A., Review of Economics and Statistics, vol. 79, pp. 248-258, 1997.
6. "Measuring International Economic Linkage with Stock Market Data", with Ammer, J., Journal of Finance, vol. 51, pp. 1743-1764, 1996.
7. "Explaining the Cross-Section of Returns Under a Multi-Factor Model", Journal of Financial and Quantitative Analysis, vol. 28, pp. 331-345, 1993.
8. "Where Do Betas Come From? Asset Pricing Dynamics and the Sources of Systematic Risk", with Campbell, J., Review of Financial Studies, vol. 6, pp. 567-592, 1993.
9. "A Semi-Autoregression Approach to the Arbitrage Pricing Theory", Journal of Finance, vol. 48, pp. 599-620, 1993.
Ou Jihong
藕继红
Associate Professor of Operations Management
Ph.D., Massachusetts Institute of Technology
Introduction
Prior to coming to Cheung Kong GSB, Dr. Ou taught at the National University of Singapore Business School since 1999, and has been a visiting fellow at the University of Cambridge, University of California at Los Angeles, and University of Illinois. His research has been published in numerous academic journals including Management Science and Operation Research. He is an expert in applied research and surveys on China’s third party logistics industry.
Research Interests
Stochastic Modeling and Analysis, Queuing Analysis and Control, Production/Inventory Systems, Supply Chain Management
Selected Publications
1. "Service Performance Analysis and Improvement for a Ticket Queue with Balking Customers", with Gao, L. & Xu, S., Management Science, vol. 53, pp. 971-990, 2007.
2. "Stability of Data Networks: Stationary and Bursty Model", with Ye, H. & Yuan. X., Operations Research, vol. 53, pp. 107-125, 2005.
3. "The Benefits of Advanced Booking Discount Programs: Model and Analysis", with Alptekinoglu, A. Rajaram, K. & Tang, C. S., Management Science, vol. 50, pp. 465-478, 2004.
4. "Inventory Cost Effect of Consolidating Several One-Warehouse Multi-Retailer Systems", with Lim, W.S. & Teo, C. P., Operations Research, vol. 51, pp. 668-672, 2003.
5. "The Delay of Open Markovian Queuing Networks: Uniform Functional Bounds, Heavy Traffic Pole Multiplicities, and Stability", with Humes, C. & Kumar, P.R., Mathematics of Operations Research, vol. 50, pp. 921-954, 1997.
6. "The Throughput of Irreducible Closed Markovian Queuing Networks: Functional Bounds, Asymptotic Loss, Efficiency, and the Harrison-Wein Conjectures", with Jin, H. & Kumar, P.R., Mathematics of Operations Research, vol. 22, pp. 886-920, 1997.
7. "Sequential Screening In Semiconductor Manufacturing, II: Exploiting Lot-to-Lot Variability", with Wein, L. M., Operations Research, vol. 44, pp. 196-204, 1996.
8. "Dynamic Scheduling of a Production/Inventory System with By-Products and Random Yields", with Wein, L. M., Management Science, vol. 41, pp. 1000-1017, 1995.
9. "The Impact of Processing Time Knowledge on Dynamic Job-Shop Scheduling", with Wein, L. M., Management Science, vol. 37, pp. 1002-1014, 1991.
Qi Daqing
齐大庆
Professor of Accounting
Associate Dean of Cheung Kong GSB
Ph.D., Michigan State University
Introduction
Dr. Qi is Associate Dean at Cheung Kong GSB. He previously taught at Chinese University of Hong Kong as a professor of Accounting. His work has been published in numerous academic accounting and finance journals, such as Contemporary Accounting Research. Additionally, Dr. Qi is also a member of the American Accounting Association. He has extensive executive training and consulting experience in accounting and corporate finance for clients such as the Ministry of Information Industry, the Shanghai Municipal Government, China Mobile, China Unicom, China Telecom, China Netcom, Nokia, Ericsson, Huawei.
Research Interests
Financial Reporting, IPOs, Profit Manipulation by Management of Listed Companies, Quantitative Strategic Management
Selected Publications
1. "The Economic Consequences of Voluntary Auditing", with Haw, In-Mu & Wu, Woody, Journal of Accounting, Auditing and Finance, vol. 23 (1), pp. 63-93, 2008.
2. "Securities Regulation, the Timing of Annual Report Release, and Market Implications: Evidence from China", with Haw, In-Mu & Wu, Woody, Journal of International Financial Management & Accounting, vol. 17 (2), summer 2006.
3. "Earnings Management of Listed Firms in Response to Security Regulations in China’s Emerging Capital Market", with Haw, In-Mu & Wu, Woody, Contemporary Accounting Research, vol. 22, 2005.
4. "Analysis on Strategy Implementation Status and the Decisive Factors of Implementation of China’s Enterprises", with Wei, Huaning & Xue, Yunkui, Management World, September 2005.
5. "Audit Qualification and Timing of Earnings Announcements: Evidence from China", with Haw, In-Mu & Wu, Woody, A Journal of Practice and Theory, vol. 22 (2), pp. 1-26, 2003.
6. "The Nature of Information in Accruals and Cash Flows in an Emerging Capital Market the Case of China", with Haw, In-Mu & Wu, Woody, The International Journal of Accounting, vol. 36 (4), pp. 391-406, 2001.
7. "The Incremental Information Content of SEC 10-K Reports Filed under the EDGAR System", with Wu, Woody & Haw, In-Mu, Journal of Accounting, Auditing and Finance, vol. 15 (1), pp. 25-46, 2000.
8. "Stationarity and Cointegration Tests of the Ohlson Model", with Wu, Woody & Xiang, Bing, Journal of Accounting, Auditing & Finance, vol. 12 (2), pp. 141-160, Spring 2000.
9. "Firm Performance and the Timing of Annual Report Releases: The Case of China", With Haw, In-Mu & Wu, Woody, Journal of International Financial Management and Accounting, vol. 11 (2), pp. 108-130, 2000.
10. "Ownership Structure and Performance of Listed Chinese Companies", with Wu, Woody & Zhang, Hua, Pacific-Basin Finance Journal, pp. 587-610, 2000.
11. "Value Relevance of Earnings in an Emerging Capital Market: the Case of A-shares in China", with Haw, In-Mu & Wu, Woody, Pacific Economic Review, vol. 4 (3), pp. 337-347, 1999.
Sun Baohong
孙宝红
Professor of Marketing
Director of Customer Information Management Center
Ph.D., University of Southern California
Introduction
Dr. Sun earned her Ph.D. at the University of Southern California. She is also a professor at Tepper School of Business, Carnegie Mellon University. The recipient of many academic and teaching awards, Dr. Sun serves on the editorial boards for Marketing Science, Journal of Marketing Research, and Journal of Marketing. Her research has been regularly published in these journals, as well as Journal of Marketing Research, Quantitative Marketing and Economics, and Journal of Consumer Research. Her extensive consulting experience includes time with major corporations like PNC Bank, Bell South, Tsingtao Beer, and IBM.
Research Interests
Cross-Category and State Dependent Consumer Choices and Dynamic Promotion Effects, Customer Relationship Management, Dynamic and Interactive Marketing Mix, New Product Forecasting and Survey Design, Rational and Strategic Consumer Choices and Dynamic Structural Models
Selected Publications
1. "Consumer Purchases of Retailers’ Service Contracts", with Chen, Tao & Kalra, Ajay, Journal of Consumer Research, vol. 36 (4), pp. 611-623, 2009.
2. "Lemon’s Market on the Internet: An Empirical Investigation of Signaling Effect on eBay", with Li, Shibo & Srinivasan, Kannan, Journal of Marketing, vol. 73 (1), pp. 75-92, 2009.
3. "An Empirical Investigation of the Dynamic Effect of Marlboro’s Permanent Pricing Shift", with Chen, Tao & Singh, Vishal, Marketing Science, vol. 28, pp. 740-758, 2009.
4. "A Dynamic Model of Brand Choice When Price and Advertising Signal Product Quality", with Erdem, Tulin & Keane, Michael, Marketing Science, vol. 27, pp. 1111-1125, 2008.
5. "Advertising Effectiveness, Price Sensitivity and Use Experience Interactions in Experience Goods Markets", with Erdem, Tulin & Keane. Michael, Quantitative Marketing and Economics, vol. 5 (3), 2008.
6. "Promotion Effect on Endogenous Consumption", Marketing Science, vol. 24 (3), pp. 430-443, 2005.
7. "Cross-selling Sequentially Ordered Products: An Application to Consumer Banking Services", with Li, Shibo & Wilcox, Ronald, Journal of Marketing Research, vol. 42 (2), pp. 233-240, 2004.
8. "Product Strategy for Innovators in Markets with Network Effects", with Cao, H. Henry & Xie, Jinhong, Marketing Science, vol. 23 (2), pp. 243-254, 2004.
9. "Measuring The Impact of Promotions on Brand Switching Under Rational Consumer Behavior", with Neslin, Scott & Srinivasan, Kannan, Journal of Marketing Research, vol. 40 (4), pp. 389-405, 2003.
10. "An Empirical Investigation of Spillover Effects of Marketing Mix Strategy in Umbrella Branding", with Erdem, Tulin, Journal of Marketing Research, vol. 39 (4), pp. 408-420, 2002.
11. "Understanding the Reference Price Shopper: A Within and Cross-Category Analysis", with Erdem, Tulin & Mayhew, Glenn, Journal of Marketing Research, vol. 38 (4), pp. 445-457, 2001.
12. "Missing Price and Coupon Availability Data in Scanner Panels: Correcting for the Self-Selection Bias in the Choice Model Parameters", with Erdem, Tulin & Keane, Michael, Journal of Econometrics, vol. 89 (1-2), pp. 177-196, 1999.
13. "Modeling Survey Response Bias - with an Application to the Demand for an Advanced Electronic Device Service", with Cheng, Hsiao, Journal of Econometrics, vol. 89 (1-2), pp. 15-39, 1999. (lead article)
Teng Bingsheng
滕斌圣
Associate Professor of Strategy
Associate Dean of Cheung Kong GSB
Ph.D., City University of New York
Introduction
Dr. Teng is Associate Dean and associate professor of Strategic Management at Cheung Kong GSB and was previously the associate professor of Strategic Management with tenure at George Washington University, as well as the doctoral advisor and lead professor of the departmental doctoral program at GWU. His research has been published in a variety of top academic journals including Academy of Management Review and Organization Science. Dr. Teng also serves on the editorial board of International Entrepreneurship and Management Journal, and has received awards for his research including the Wendell and Louis Crain Research Scholar at GWU. In addition, Dr. Teng is a frequent contributor and interviewee in the popular media such as Wall Street Journal, Business Week, and Far Eastern Economic Review.
Research Interests
Strategic Alliances, Mergers & Acquisitions, Entrepreneurship and Innovation, Chinese Firms' Global Strategies
Selected Publications
1. "Strategic Alliance Termination and Performance: The Role of Task Complexity, Nationality, and Experience", with McCutchen, W. W. Jr., Swamidass, P. M., Journal of High Technology Management Research, vol. 18 (2), pp. 191-202, 2008.
2. "Governance Structure Choice in Strategic Alliances: The Roles of Alliance Objectives, Alliance Management Experience, and International Partners", with Das, T.K., Management Decision, vol. 45, pp. 725-742, 2008.
3. "Corporate Entrepreneurship Activities through Strategic Alliances: A Resource-based Approach toward Competitive Advantage", Journal of Management Studies, vol. 44, pp. 119-142, 2007.
4. "Managing Intellectual Property in R&D Alliances", International Journal of Technology Management, vol. 38 (1-2), pp. 160-177, 2007.
5. "The Keys to Successful Knowledge-sharing", with Cummings, J.L., Journal of General Management, vol. 31 (4), pp. 1-18, 2006.
6. "The Emergence and Popularization of Strategic Alliances: Institutional and Entrepreneurial Views", International Entrepreneurship and Management Journal, vol. 1, pp. 61-82, 2005.
7. "The Risk-based View of Trust: A Conceptual Framework", with Das, T. K., Journal of Business and Psychology, vol. 19 (1), pp. 85-116, 2004.
8. "The WTO and Entry Modes in China", Thunderbird International Business Review, vol. 46, pp. 381-400, 2004.
9. "R&D Risk-taking in Strategic Alliances: New Explanations for R&D Alliances in the Biopharmaceutical Industry", with McCutchen, W. W. Jr., Swamidass, P. M., Management International Review, vol. 44 (1), pp. 53-67, 2004.
10. "Collaborative Advantage of Strategic Alliances: Value Creation in the Value Net", Journal of General Management, vol. 29 (2), pp. 1-22, 2003.
11. "Partner Analysis and Alliance Performance", with Das, T. K., Scandinavian Journal of Management, vol. 19, pp. 279-308, 2003.
12. "Transferring R&D Knowledge: The Key Factors Affecting Knowledge Transfer Success", with Cummings, J. L., Journal of Engineering and Technology Management, vol. 20 (1-2), pp. 39-68, 2003.
13. "Alliance Constellations: a Social Exchange Perspective", with Das, T. K. Academy of Management Review, vol. 27, pp. 445-456, 2002.
14. "Trade-offs in Managing Resources and Capabilities", with Cummings, J. L., Academy of Management Executive, vol. 16 (2), pp. 81-91, 2002.
15. "The Dynamics of Alliance Conditions in the Alliance Development Process", with Das, T. K., Journal of Management Studies, vol. 39, pp. 725-746, 2002.
16. "Trust, Control, and Risk in Strategic Alliances: An Integrated Framework", with Das, T. K., Organization Studies, vol. 22, pp. 251-283, 2001.
17. "Strategic Risk Behavior and Its Temporalities: Between Risk Propensity and Decision Context", with Das, T. K., Journal of Management Studies, vol. 38, pp. 515-534, 2001.
18. "Relational Risk and Its Personal Correlates in Strategic Alliances", with Das, T. K., Journal of Business and Psychology, vol. 15 (3), pp. 449-465, 2001.
19. "A Risk Perception Model of Alliance Structuring", with Das, T. K., Journal of International Management, vol. 7, pp. 1-29, 2001.
20. "A Resource-based Theory of Strategic Alliances", with Das, T. K., Journal of Management, vol. 26, pp. 31-61, 2000.
21. "Instabilities of Strategic Alliances: An Internal Tensions Perspective", With Das, T. K, Organization Science, vol. 11, pp. 77-101, 2000.
22. "Russian Managers’ Perceptions of Prospective Russian-U.S. Joint Ventures", with Banai, M., Chanin, M., International Business Review, vol. 8, pp. 17-37, 1999.
23. "Cognitive Biases and Strategic Decision Processes: An Integrative Perspective", with Das, T. K., Journal of Management Studies, vol. 36, pp. 757-778, 1999.
24. "Managing Risks in Strategic Alliances", with Das, T. K., Academy of Management Executive, vol. 13 (4), pp. 50-62, 1999.
25. "Between Trust and Control: Developing Confidence in Partner Cooperation in Alliances", with Das, T. K, Academy of Management Review, vol. 23, pp. 491-512, 1998.
26. "Resource and Risk Management in the Strategic Alliance Making Process", with Das, T. K., Journal of Management, vol. 24, pp. 21-42, 1998.
27. "Time and Entrepreneurial Risk Behavior", with Das, T. K., Entrepreneurship Theory and Practice, vol. 22 (2), pp. 69-88, 1997.
28. "Sustaining Strategic Alliances: Options and Guidelines", with Das, T. K., Journal of General Management, vol. 22 (4), pp. 49-64, 1997.
29. "Comparing Job Characteristics, Leadership Style, and Alienation in Russian Public and Private Enterprises", with Banai, M., Journal of International Management, vol. 2, pp. 201-224, 1996.
30. "Risk Types and Inter-Firm Alliance Structures", with Das, T. K., Journal of Management Studies, vol. 33, pp. 827-843, 1996.
Brian Viard
Assistant Professor of Strategy and Economics
Ph.D., University of Chicago
Introduction
Dr. Brian Viard is an assistant professor of Strategy and Economics at Cheung Kong GSB. Prior to joining Cheung Kong GSB, he taught at Stanford Graduate School of Business. He specializes in industrial organization economics and the economics of strategy, and has published several articles on top journals such as Rand Journal of Economics and Quantitative Marketing and Economics. Prior to earning his Ph.D., he worked in management consulting and specialized in technology strategy.
Research Interests
Applied Microeconomics, Economics of Competitive Strategy, Entry, Industrial Organization, Information Goods, Loyalty Programs, Pricing, Switching Costs, Telecommunications
Selected Publications
1. "Quantifying the Benefits of Entry into Local Phone Service", with Economides, Nicholas & Seim, Katja, Rand Journal of Economics, vol. 39(3), pp. 699–730, Autumn 2008.
2. "Do Frequency Reward Programs Create Switching Costs?", with Hartmann, Wesley, Quantitative Marketing and Economics, vol. 6(2), pp. 109–137, June 2008(lead article).
3. "Do Switching Costs Make Markets More or Less Competitive?: The Case of 800-Number Portability", Rand Journal of Economics, vol. 38(1), pp. 146–163, Spring 2007.
4. "Information Goods Upgrades: Theory and Evidence", the B.E., Journal of Theoretical Economics, vol. 7(1), Article 3, 2007.
5. "Recent Advances in Structural Econometric Modeling: Dynamics, Product Positioning and Entry", with Chiang, Andrew, Crawford, Greg, Draganska, Michaela, Dube, Fox, Jeremy, Hartmann, Wesley, Hitsch, Gunter, Jean-Pierre, Sudhir, K., Vilcassim, Naufel & Villas-Boas, Miguel, Marketing Letters, vol. 16(3–4), pp. 209–224, December 2005.
Wang Yijiang
王一江
Professor of Economics
Ph.D., Harvard University
Introduction
Before joining Cheung Kong GSB, Dr. Wang taught at Carlson School of Management, University of Minnesota. He is also a Senior Fellow at the National Center of Economic Research at Tsinghua University, and Vice President of the Chinese Economists' Society in North America. Among his many papers, "The Nature of the Township and Village Enterprise," was selected as one of the "most influential piece ever written on the Chinese economy since reform" to be included in a volume in the Cambridge Series on Trade and Development. His work has also been published in American Economic Review and Journal of Labor Economics.
Research Interests
Chinese Economy, Economics of Transition and Emerging Markets, Labor Economics and Human Resource Management, Money and Public Finance, Organization Theory
Selected Publications
1. "Union Effects on Performance and Workers’ Welfare in China", with Lu, Yi & Tao, Zhigang, China Economic Review, forthcoming.
2. "Ownership, Performance and Executive Turnover in China", with Wei, Chi, Asian Economic Review, vol. 20, pp.465-478, 2009.
3. "Small and Medium-sized Firms Determine a Country's Future", Economic Observer, October 20, 2007. (was selected by journalists organized by Southern Weekend as one of the Ten Best Commentaries of 2007 in China)
4. "Political Conditions for Reform: China vs. Eastern Europe Revisited", Journal of the European Economic Association, vol. 4 (2-3), pp. 342-351, April and May, 2006.
5. "Labor Policy and Investment: Evidence from Canada", Industrial and Labor Relations Review, vol. 57 (3), pp.386-401, April 2004.
6. "Implications of Managerial Incentives and ownership for Performance: Evidence from China’s Rural Enterprises", Journal of Comparative Economics, vol. 31 (3), pp.414-428, September 2003.
7. "Uncertainty in Labor Productivity and Specific Human Capital", with Bai, Chongen, Journal of Labor Economics, vol. 21 (3), pp.651-675, July 2003.
8. "Monitoring the Monitor: Does Ownership Matter?", Annals of Economics and Finance, vol. 4 (1), pp. 137-49, May 2003.
9. "Financial Repression and Optimal Taxation", with Bai, Chongen, Li, David & Qian, Yingyi, Economics Letters, vol. 70, pp. 245-251, 2001.
10. "A Multitask Theory of the State Enterprise Reform", with Bai, Chongen, Li, David & Tao, Zhigang, Journal of Comparative Economics, vol. 28, pp. 716-738, 2000.
11. "Choosing between Spot and Up-or-Out Contracts", with Chang, Chun, Annals of Economics and Finance, vol. 1, pp. 189-210, May 2000.
12. "The Ambiguity of Strike Replacement Legislation and Wages: A Sequential Investment-Bargaining Model", with Budd, John, Advances in Industrial and Labor Relations, pp.239-252, 1999.
13. "The Myth of the East Asia Miracle: The Macroeconomic Implications of Soft Budgets", with Bai, Chongen, American Economic Review, vol. 82 (2), pp.432-437, May 1999.
14. "Bureaucratic Control and Soft Budget Constraint", with Bai, Chongen, Journal of Comparative Economics, vol. 26 (1), pp. 41-61, March 1998.
15. "Economic Transition under a Semifederalist Government: The Experience of China", with Chang, Chun, China Economic Review, vol. 9 (1), pp. 1-23, 1998.
16. "Some Empirical Implications of a Model of Human Capital Investment under Asymmetric Information", with Chang, Chun, Research in Labor Economics, vol. 16, pp.103-117, 1997.
17. "Enterprise Productivity and Performance: When Is Up Really Down?", with Bai, Chongen & Li, David, Journal of Comparative Economics, vol. 24, pp. 265-80, 1997.
18. "Human Capital Investment and Labor Turnover under Asymmetric Information: The Pigovian Conjecture Revisited", with Chang, Chun, Journal of Labor Economics, vol. 14, pp. 505-519, June 1996.
19. "A Framework for Understanding Differences in Employment Stability and Human Capital Investment", with Chang, Chun, Journal of Economic Behavior & Organization, vol. 28, pp. 91-105, 1995.
20. "Firm's Information-Sharing Policy and Strike Incidence", Economics Letters, vol. 48, pp. 73-76, 1995.
21. "The Nature of the Township and Village Enterprise", with Chang, Chun, Journal of Comparative Economics, vol. 19, pp. 434-452, 1994.
22. "When Privatization Should Be Delayed: Organizational and Institutional Legacies of Communism and the Strategy of Transition", with Murrell, Peter, Journal of Comparative Economics, vol. 17, pp. 385-406, 1993.
23. "Eastern Europe and China: Institutional Development as a Resource Allocation Problem", China Economic Review, vol. 4, pp. 37-47, 1993.
24. "Optimal Liquidation Rule and Debt in the Principal-Agent Model", with Chang, Chun, Economics Letters, vol. 40, pp. 23-26, 1992.
25. "Economic Reform, Fixed Capital Investment Expansion, and Inflation: A Behavioral Model Based on the Chinese Experience", China Economic Review, vol. 2, pp. 3-27, 1991.
Xiang Bing
项兵
Professor of Accounting
Founding Dean of Cheung Kong GSB
Ph.D., University of Alberta
Introduction
Dr. Xiang received his Accounting Ph.D. from the University of Alberta. Prior to becoming Cheung Kong GSB's Founding Dean, he pioneered the EMBA and Executive Education programs at Guanghua School of Management, Peking University, and also served on the faculties of the Hong Kong University of Science and Technology, and the Chinese University of Hong Kong. Dr. Xiang has published his research in many top academic journals like Contemporary Accounting Research. Additionally, he has delivered executive programs at many world-class universities and corporations, and is a well-known management consultant, and serves as an independent board member on a number of Hong Kong and Mainland-listed corporations.
Research Interests
Comparative Corporate Systems, Corporate Governance, Transition and Management of State-owned Enterprises, Private Enterprise Business Models, Corporate Competitiveness in Emerging Markets
Selected Publications
1. "Stationarity and Cointegration Tests of the Ohlson Model", with Qi, Dave & Wu, Woody, Journal of Accounting, Auditing & Finance, vol. 12 (2), pp. 141-160, Spring 2000.
2. "Institutional Factors Influencing China's Accounting Reforms and Standards", Accounting Horizons, vol. 12 (2), pp.105-119, 1998.
3. "The Reform of China's State-owned Enterprises: The Role of Stock Markets", China in the Post-Deng Era, pp.311-328, 1998.
4. "On the Rationality of Value Line's Quarterly Earnings Forecasts: Evidence from Alternative Methods", China Accounting Review, pp. 115-156, 1997.
5. "Ownership Structure Reform and Corporate Performance: An Empirical Evaluation of Chinese Shareholding Companies", with Wu, Woody & Zhang, Guochang. Hong Kong Journal of Business Management, pp. 53-67, 1996.
6. "The Choice of Return-Generating Models and Cross-Sectional Dependence in Event Studies", The Contemporary Accounting Research, vol. 9, pp.365-94, 1993.
Xue Yunkui
薛云奎
Professor of Accounting
Associate Dean of Cheung Kong GSB
Ph.D., Xiamen University
Introduction
Dr. Xue is an Associate Dean at Cheung Kong GSB. He received his Ph.D. from Xiamen University and the post doctorate at Shanghai University of Finance & Economics. Prior to joining Cheung Kong GSB, he was the founding Associate Dean as at Shanghai National Accounting Institute. Dr. Xue has also held positions including Dean of the Business School at Shantou University, Associate Dean of the School of Accountancy at Shanghai University of Finance & Economics, and the Secretary General of the Chinese Accounting Professor Association. During his academic career, he has won many awards for outstanding performance both in teaching and research. Dr. Xue also serves as an editor and advisor for several academic journals, and an independent board director for several public companies in Hong Kong and mainland China.
Research Interests
Accounting Information System, Accounting Rules, Accounting Theory
Selected Publications
1. "Share-Trading, Capital Misappropriation and the Cash Dividend Policy of Publicly Listed Companies", with Huang, Zhizhong & Ma, Shuguang, Accounting Studies, September 2005.
2. "Analysis on Strategy Implementation Status and the Decisive Factors of Implementation of China’s Enterprises", with Qi, Daqing & Wei, Huaning, Management World, September 2005.
3. "Studies on Information Disclosure toward Intangible Asset and Its Value Relevance", with Wang, Zhitai, Accounting Studies, November 2001.
4. "The Importance of R&D and Improvements on Its Information Disclosure", with Wang, Zhitai, Accounting Studies, March 2001.
5. "Financing and Accounting in the Network Era: Management Integration and Accounting Channel", Accounting Studies, November 1999.
6. "10 Tendencies of Financial Accounting Development", Accounting Studies, March 1999.
Zhao Hao
赵昊
Associate Professor of Marketing
Ph.D., Rochester University
Introduction
Dr. Zhao is an associate professor of Marketing at Cheung Kong GSB. Dr. Zhao previously taught at Rutgers University. His work has been published extensively in international marketing journals during the last few years, including Marketing Science, Operations Research. In addition, Dr. Zhao also provides consulting services for multinational companies both in Hong Kong and mainland China.
Research Interests
Applications of Game Theory to Advertising, Competitive R&D Strategies, Durable Goods Pricing, Online Retailing, Information Asymmetry between Consumers and Firms
Selected Publications
1. "Sequential Product Strategy, Dynamic Market, and Social Welfare", with Jagpal, Sharon, Journal of Business Research, vol. 62 (7), pp. 713-718, 2009.
2. "The Effect of Secondhand Markets on the Firm’s Dynamic Pricing and New Product Introduction Strategies", with Jagpal, Sharan, International Journal of Research in Marketing, 2008.
3. "The Effect of Secondhand Markets on the Firm's Dynamic Pricing and New Product Introduction Strategies", with Jagpal, Sharon, International Journal of Research in Marketing, vol. 23, 2006.
4. "Incentive-Based Compensation to Advertising Agencies: A Principal-Agent Approach", International Journal of Research in Marketing, vol. 22, 2005.
5. "The Impact of E-tailers’ Inventory Policies on Pricing, Product Delivery and Customer Responses: A Theoretical and Empirical Analysis", with Cao, Yong, Journal of Retailing, 2004.
6. "Perceptions of E-Tailer’s Delivery Fulfillment: an Integrated Model of Firm Factors and Buyer Characteristics", with Cao, Yong, Journal of Service Research, May 2004. (the leading article)
7. "R&D Competition between an Incumbent and an Entrant: An Integrated Model of R&D Investment, Performance Improvement, and Time-to-Market", Review of Marketing Science, vol. 2 (2), May 2003.
8. "Raising Awareness and Signaling Quality to Uninformed Consumers: A Price-Advertising Model", Marketing Science, vol. 19 (4), pp. 390-396, Fall 2000.
9. "Production-Inventory Systems with Unreliable Machines", with Berg, M & Posner, M.J.M., Operations Research, vol. 42, pp. 111-118, January-February 1994.
Zheng Yusheng
郑渝生
Professor of Operations Management
Ph.D., Columbia University
Introduction
Dr. Zheng is Operations professor at Cheung Kong GSB. His research results have been published in numerous leading academic journals. Dr. Zheng has been an associate editor of Operations Research and Management Science for many years, and served on the editorial board of Manufacturing and Service Operations Management. Additionally, he has provided consulting service to numerous multinational companies such as IBM, Teradyne Inc, Voice of Europe, Corporate Decisions, Inc. and Vanguard Group. Dr. Zheng is a frequently invited speaker at major international academic and industrial conferences.
Research Interests
Financial Models, Inventory Management, Manufacturing Operations, Service Operations, Supply Chain Management
Selected Publications
1. "Decentralized Serial Supply Chains Subject to Order Delays and Information Distortion: Exploiting Real Time Sales Data", with Watson, N., Manufacturing and Service Operations Management, vol. 7, pp. 152-168, 2005.
2. "Setting Customer Expectation in Service Delivery: An Integrated Marketing-Operations Perspective", with Ho, T., Management Science, vol. 50, pp. 479-488, 2004.
3. "Near Optimal Pricing and Replenishment Strategies for A Retail/Distribution System", with Chen, F. & Federgruen, A., Operations Research, vol. 49, pp. 839-853, 2001.
4. "Coordination Mechanisms for Decentralized Distribution Systems", with Chen, F. & Federgruen, A., Management Science, vol. 47, pp. 693-708, 2001.
5. "Ending Inventory Valuation in Multi-Period Production Scheduling", with Fisher, M. & Ramdas, K., Management Science, vol. 47, pp. 679-692, 2001.
6. "A Two-Echelon Repairable Inventory System with Stocking-Center-Dependent Depot Replenishment Lead Times", with Wang, Y. & Cohen, M., Management Science, vol. 46, pp. 1441-1453, 2000.
7. "Optimal Dynamic Pricing for Perishable Assets with General Non-homogeneous Demand", with Zhao, W., Management Science, vol. 46, pp. 375-388, 2000.
8. "Near-Optimal Echelon-Stock (r,nQ) Policies in Multi-Stage Serial Systems", with Chen, F., Operations Research, vol. 46, pp. 592-602, 1998.
9. "One Warehouse Multi-Retailer Systems with Centralized Information", with Chen, F., Operations Research. vol. 45, pp. 275-287, 1997.
10. "Encient Algorithms for Finding Optimal Power-of-Two Policies for Production/Distribution Systems with General Joint Setup Costs", with Federgruen, A., Operations Research, vol. 43, pp. 458-470, 1995.
11. "Lower Bounds for Multi-Echelon Stochastic Inventory Systems", with Chen, F., Management Science, vol.40, pp. 1426-1443, 1994.
12. "Evaluating Echelon Stock (R; nQ) Policies in Serial Production/Inventory Systems with Stochastic Demand", with Chen, F., Management Science, vol. 40, pp. 1262-1275, 1994.
13. "Optimal Control Policy for Stochastic Inventory Systems with Markovian Discount Opportunities", Operations Research, vol. 42, pp. 721-738. 4, 1994.
14. "Optimal Power-of-Two Replenishment Strategies in Capacitated General Production/Distribution Networks", with Federgruen, A., Management Science, vol. 39, pp. 710-727, 1993.
15. "An Encient Algorithm for Computing Optimal(r,Q) Policies in Continuous-Review Stochastic Inventory Systems", with A. Federgruen, Operations Research, vol. 40, pp. 808-812, 1992.
16. "Simple Power-of-two Policies are Close to Optimal in A General Class of Production/Distribution Networks with General Joint Setup Costs", with Federgruen, A. & Queyranne, M., Mathematics of Operations Research, vol. 17, pp. 951-963, 1992.
17. "The Joint Replenishment Problem with General Joint Cost Structure", with Federgruen, A., Operations Research, vol. 40, pp. 384-403, 1992.
18. "On Properties of Stochastic Inventory Systems", Management Science, vol. 38, pp. 87-103, 1992.
19. "Finding Optimal (s,S) Policies is About As Simple As Evaluating A Single Policy", with Federgruen, A., Operations Research, vol. 39, pp. 654-665, 1991.
20. "A Queueing Model to Analyze the Value of Centralized Inventory Information", with Zipkin, P., Operations Research, vol. 38, pp. 296-307, 1990.
Zhou Chunsheng
周春生
Professor of Finance
Ph.D., Princeton University
Introduction
Dr. Zhou received his Ph.D. in Economics (Finance) in 1995 from Princeton University. He previously held a professorship at Guanghua School of Management, Peking University, and worked at the China Securities Regulatory Commission and the U.S. Federal Reserve Board of Governors’. His research results have been published in numerous top journals including Journal of Financial Economics, Review of Financial Studies. Dr. Zhou won the Princeton University Honorific Fellowship in 1994-1995, as well as the Best Paper Award from the Global Finance Association in 2001. Additionally, he won China’s National Excellent Young Researcher Grant in 2003.
Research Interests
Capital Operation, Exchange Market, Financial Derivative Tools, Financial Investment
Selected Publications
1. "The Illusionary Nature of Momentum Profits", with Lesmond & Schill, Journal of Financial Economics, vol. 71 (2), February 2004.
2. "Credit Derivatives in Banking: Useful Tools for Managing Risk?", with Duffee, Gregory, Journal of Monetary Economics, August 2001.
3. "An Analysis of Default Correlation and Multiple Defaults", Review of Financial Studies, May 2001.
4. "Time to Build and Investment”, Review of Economics and Statistics, vol. 82, pp. 273-282, 2000.
5. "Informational Asymmetry and Market Imperfections: Another Solution to the Equity Premium Puzzle", Journal of Financial and Quantitative Analysis, vol. 34, pp. 445-464, 1999.
2. Visiting/Adjunct/Teaching Professors
Chen Long
Visiting Associate Professor of Finance
Ph.D., University of Toronto
Introduction
Dr. Chen is a visiting associate professor of Finance at Cheung Kong GSB. Apart from his role at the school, he also teaches at Olin Business School, Washington University in St. Louis. Prior to joining Olin in 2008, Dr. Chen was an assistant professor at Michigan State University. Chen's business exposure includes two years working in an import and export corporation in China and one year as a professional trader for the commodity futures market. Dr. Chen has published several papers for top journals, including Journal of Finance, Journal of Financial Economics, and Review of Financial Studies.
Research Interests
Asset Pricing, Liquidity Risk, Credit Risk, Corporate Financing Decisions
Selected Publications
1. "On the Reversal of Dividend and Return Predictability: A Tale of Two Periods", Journal of Financial Economics, forthcoming.
2. "A Better Three-Factor Model That Explains More Anomalies", with Zhang, Lu, Journal of Finance, forthcoming.
3. "Return Decomposition", with Zhao, Xinlei, Review of Financial Studies, vol. 22, pp. 5213-5249, 2009.
4. "On the Relation between the Credit Spread Puzzle and the Equity Premium Puzzle", with Collin-Dufresne, Pierre & Goldstein, Robert, Journal of Financial Economics, vol. 22, pp. 3367-3409, 2009.
5. "The Expected Value Premium", with Petkova, Ralitsa & Zhang, Lu, Journal of Financial Economics, vol. 87, pp. 269-280, 2008.
6. "Expected Returns, Yield Spreads, and Asset Pricing Tests", with Campello, Murillo & Zhang, Lu, Review of Financial Studies, vol. 21(3), pp. 1297-1338, 2008.
7. "Mechanical Mean Reversion of Leverage Ratios", with Zhao, Xinlei, Economic Letters, vol. 95, pp. 223-229, 2007.
8. "Corporate Yield Spreads and Bond Liquidity", with Lesmond, David & Wei, Jason, Journal of Finance, vol. 62, pp. 119-149, 2007.
9. "On the Relation between the Market-to-Book Ratio, Growth Opportunity, and Leverage Ratio", with Zhao, Xinlei, Finance Research Letters, vol. 3, pp. 253-266, 2006.
Chen Yaru
陈雅如
Visiting Professor of Organizational Behavior
Research Institute Scholar at Cheung Kong GSB
Ph.D., Columbia University
Introduction
Dr. Chen is visiting professor and research fellow at Cheung Kong GSB. Apart from her role at Cheung Kong GSB, she teaches at Rutgers Business School. She has won many research awards during her academic career to date, and has published research papers in a number of elite academic and business journals. Dr. Chen serves as editorial board member of the Academy of Management Review and Management and Organization Review.
Research Interests
Culture and Organizational Justice, Culture and Negotiation, Culture, Status and Power in Organizations
Selected Publications
1. "To Whom Do the Positive and Negative Reciprocity Apply? Inequitable Offers: Culture, Emotion, and Reciprocity", with Chen, X., & Portnoy, R., Journal of Experimental Social Psychology, vol. 45, pp. 24-34, 2009.
2. "Where (and Who) are Collectives in Collectivism: Toward Conceptual Clarification of Individualism and Collectivism”, with Brewer, M.B., Psychological Review, vol. 114, pp. 133-151, 2007.
3. "To Whom Does the Relational Model of Procedural Fairness Apply? The Moderating Influence of Interdependent Self-Construal", with De-Cremer, D., & Van-Den-Bos, K., Organizational Behavior and Human Decision Processes, vol. 96, pp. 155-167, 2005.
4. "Guanxi Practices and Trust in Management: A Procedural Justice Perspective", with Chen, C. & Xin, K., Organization Science, 2004. (Special Issue on Corporate Transformations in the People’s Republic of China.)
5. "When Is It ‘A Pleasure to Do Business With You?’ The Effects of Relative Status, Outcome Favorability, and Procedural Fairness", with Brockner, J., & Greenberg, J. Organization Behavior and Human Decision Processes, vol. 92, pp. 1-15, 2004.
6. "The Importance of Who You Meet: Effects of Self-Versus Other-Concerns Among Negotiators In the United States, the People’s Republic of China, and Japan", with Mannix, E.A. & Okumura, T., Journal of Experimental Social Psychology, vol. 39, pp. 1-15, 2003.
7. "Individual-Collective Primacy and Ingroup Favoritism: Enhancement and Protection Effects", with Brockner, J., & Chen, X., Journal of Experimental Social Psychology, vol. 38, pp. 482-491, 2002.
8. "Culture and Procedural Justice: When the Effects of What You Do Depend Upon How You Do It", with Brockner, J., Mannix, E. A., Leung, K., & Skarlicki, D. (equal authorship between the first two authors), Administrative Science Quarterly, vol. 45, pp. 138-159, 2000.
9. "Toward an Explanation of Cultural Differences in In-Group Favoritism: The Role of Individual versus Collective Primacy", with Brockner, J., & Katz, T. Journal of Personality and Social Psychology, vol. 75, pp. 1490-1502, 1998.
10. "The Moderating Roles of Self-Esteem and Self-Construal in Reaction to A Threat to the Self: Evidence from the People's Republic of China and the United States", with Brockner, J., Journal of Personality and Social Psychology, vol. 71, pp. 603-615, 1996.
Chen Zhiwu
陈志武
Teaching Professor of Finance
Ph.D., Yale University
Introduction
Dr. Chen is a teaching professor of Finance at Cheung Kong GSB and professor at Yale University. His research has appeared in top international journals including American Economic Review, Journal of Finance, Review of Financial Studies, and Journal of Financial Economics. Dr. Chen received numerous awards for his outstanding research and teaching performance. He also has rich experiences in executive teaching and consulting in mainland China, Japan and the United States.
Research Interests
Asset Pricing, Chinese Economics, Derivatives, Financial Theory, Securities Design
Selected Publications
1. "Informational Content of Option Volume Prior to Takeovers", with Griffin, John, Journal of Business, vol. 78, pp. 1073-1109, 2005.
2. "Pricing and Hedging Long-Term Options", with Bakshi, Gurdip & Cao, Charles, Journal of Econometrics, vol. 94, pp. 277-318, 2000.
3. "Do Call Prices and the Underlying Stock Always Move in the Same Direction?", with Bakshi, Gurdip & Cao, Charles, Review of Financial Studies, vol. 13, pp. 549-584, 2000.
4. "Empirical Performance of Alternative Option Pricing Models", with Bakshi, Gurdip & Cao, Charles, Journal of Finance, vol. LII (5), pp. 2003-2049, 1997.
5. "Equilibrium Valuation of Foreign Exchange Claims", with Bakshi, Gurdip, Journal of Finance, vol. LII (2), pp. 799-826, 1997.
6. "An Alternative Valuation Model for Contingent Claims", with Bakshi, Gurdip, Journal of Financial Economics, vol. 44, pp. 123-165, 1997.
7. "The Spirit of Capitalism and Stock Market Prices", with Bakshi, Gurdip, American Economic Review, vol. 86 (1), pp. 133-157, 1996.
8. "Portfolio Performance Measurement: Theory and Applications", with Knez, Peter, Review of Financial Studies, vol. 9 (2), pp. 511-555, 1996.
9. "Inflation, Asset Prices, and the Term Structure of Interest Rates in Monetary Economies", with Bakshi, Gurdip, Review of Financial Studies, vol. 9 (1), pp. 237-271, 1996.
10. "Financial Innovation and Arbitrage Pricing in Frictional Economies", Journal of Economic Theory, vol. 65 (1), pp. 117-135, 1995.
11. "Measurement of Market Integration and Arbitrage", with Knez, Peter, Review of Financial Studies, vol. 8 (2), pp. 287-325, 1995.
12. "Baby Boom, Population Aging and Capital Markets", with Bakshi, Gurdip, Journal of Business, vol. 67 (2), pp. 165-202, 1994.
Dong-Sung Cho
赵东成
Adjunct Professor of Strategy
Ph.D., Harvard Business School
Introduction
Dr. Dong-Sung Cho is the professor of Strategy and International Business at Seoul National University. He previously taught at Harvard Business School, INSEAD, University of Tokyo, University of Michigan and Peking University as well. Among the 42 books he has published are The General Trading Company, Tiger Technology: the Rise of the Semiconductor Industry in Asia, and From Adam Smith to Michael Porter: Evolution of Competitiveness Theory. Dr. Cho has also served on the board of directors for numerous multinational companies and research organizations such as the Korean Academic Society of Business Administration.
Research Interests
Business-Government Relations, Competitive Strategy, Corporate Philosophy, Corporate Culture, Entrepreneurship, Export and International Marketing, International Business Operations, International Resources Development, Joint Venture, Strategy Development and Implementation
Selected Publications
1. "CEO Competitiveness: CEO Type vs. Economic Development of Nations", with Suh, Irene Il-Yun & Yi, Kwang-Soo, Journal of International Business and Economy, vol. 6 (1), pp. 43-66, 2005.
2. "Combinative Capabilities and Organizational Learning in Latecomer Firms: the Case of the Korean Semiconductor Industry", with Mathews, John, Journal of World Business, vol. 34 (2), 1999.
3. "The Mechanism for Industry Leadership: Seven Cases of Korea’s Environment-Creating Companies", International Studies of Management & Organization, vol. 28 (4), Winter 1999.
4. "Late Comer Advantages: The Experience of Japanese and Korean Semiconductor Industries", with Kim, Dong-Jae & Rhee, Dong-Kee, Organization Science, vol. 9 (4), pp. 489-505, July-August 1998.
Philip H. Dybvig
Visiting Professor of Finance
Ph.D., Yale University
Introduction
Dr. Philip H. Dybvig is the Boatmen's Bancshares Professor of Finance in the Olin School of Business at Washington University in Saint Louis. He received a doctorate in economics from Yale University in 1979. He has published many papers in top journals on a variety of topics in finance and economics. Dr. Dybvig's research provides fundamental theoretical analysis of practical problems. The Diamond-Dybvig model, devised together with Professor Douglas W. Diamond, is a pillar of modern banking theory, and after twenty years it is still used widely by academics and regulators. His recent work has focused on investments. His research on asset allocation and spending rules for educational endowments was awarded the first Commonfund Prize in 1996 for "original research with strong potential to influence practice.'' Further, in 1996, he and Dr. William J. Marshall received the Graham and Dodd Scroll for excellence in financial writing awarded by the Association for Investment Management and Research.
Research Interests
Lifetime Consumption and Investment, Risk Management, Marketing and Portfolio Issue
Selected Publications
1. "Lifetime Consumption and Investment: Retirement and Constrained Borrowing", with Liu, Hong, Journal of Economic Theory, August 2009.
2. "Portfolio Performance and Agency", with Carpenter, Jennifer & Farnsworth, Heber, Review of Financial Studies, September 2009.
3. "Renegotiation-proof Contracting, Disclosure, and Incentives for Efficient Investment", with Baranchuk, Nina & Yang, Jun, Journal of Economic Theory, February 2009.
4. "Consensus in Diverse Corporate Boards", with Baranchuk, Nina, Review of Financial Studies, vol. 22(2), pp. 715-747, February 2009.
5. "The Fallacy of Large Numbers, and a Defense of Diversified Active Managers", Journal of Applied Finance, vol. 15, 2005.
6. "Arbitrage, State Prices, and Portfolio Theory", with Ross, Stephen A., in George Constantinides and René Stulz, ed., Handbook of the Economics of Finance, 2003.
7. "Employee Reload Options: Pricing, Hedging, and Optimal Exercise", with Loewenstein, Mark, Review of Financial Studies, vol. 16, pp. 145-171, 2003.
8. "The Cost and Duration of Cash-Balance Pension Plans", with Brown, David T. & Marshall, William J., Financial Analysts Journal, pp. 50-62, November-December 2001.
9. "Bias of Damage Awards and Free Options in Securities Litigation", with Gong, Ning & Schwartz, Rachel, Journal of Financial Intermediation, vol. 8, pp. 149-68, 2000.
10. "Empty Promises and Arbitrage", with Willard, Greg, Review of Financial Studies, vol. 12, pp. 807-834, 1999.
11. "Portfolio Turnpikes", with Back, Kerry & Rogers, Chris, Review of Financial Studies, vol. 12, pp. 165-195, 1999.
12. "Using Asset Allocation to Protect Spending", Financial Analysts Journal, pp. 49-62, January-February 1999.
13. "Going to Extremes: Correcting Simulation Bias in Exotic Option Valuation", with Beaglehole, David & Zhou, Guofu, Financial Analysts Journal, pp. 62-68, January-February 1997.
14. "Recovery of Preferences from Observed Wealth in a Single Realization," with Rogers, Chris, Review of Financial Studies, vol. 10, pp. 151-174, 1997.
15. "The New Risk Management: the Good, the Bad, and the Ugly", with Marshall, Bill, Review of the Federal Reserve Bank of Saint Louis, pp. 9-21, November-December 1997.
16. "Bond and Bond Option Pricing Based on the Current Term Structure", Mathematics of Derivative Securities, 1997. Michael A. H. Dempster & Stanley Pliska, eds., Cambridge University Press.
17. "Pricing Long Bonds: Pitfalls and Opportunities", with Marshall, Bill, Financial Analysts Journal, pp. 32-39, January-February 1996.
18. "Long Forward and Zero-coupon Rates Can Never Fall", with Ingersoll, Jonathan & Ross, Stephen, Journal of Business, vol. 69, pp. 1-25, 1996.
19. "Duesenberry's Ratcheting of Consumption: Optimal Dynamic Consumption and Investment Given Intolerance for any Decline in Standard of Living", Review of Economic Studies, vol. 62, pp. 287-313, 1995.
20. "Discussion of `Improving Bankruptcy Procedure' by Philippe Aghion, Oliver Hart, and John Moore", Washington University Law Quarterly, vol. 72, pp. 873-877, 1994.
21. "What is the Fed's Decision Problem?", Review of the Federal Reserve Bank of Saint Louis, vol. 76 (2), pp. 213-215, 1994.
22. "Warranties, Durability, and Maintenance: Two-sided Moral Hazard in a Continuous-Time Model", with Lutz, Nancy, Review of Economic Studies, vol. 60, pp. 575-597, 1993.
23. "Remarks on Banking and Deposit Insurance", Review of the Federal Reserve Bank of Saint Louis, vol. 75 (1), pp. 21-24, 1993.
24. "Riskless Asset", The New Palgrave Dictionary of Money and Finance, vol. 3, pp. 372-373, 1992.
25. "Bank Runs", The New Palgrave Dictionary of Money and Finance, vol. 1, pp. 171-173, 1992.
26. "Hedging Nontraded Wealth: When is there Separation of Hedging and Investment?", in Hodges, S. D. (ed.) Options: Recent Advances in Theory and Practice, vol. 2, 1992.
27. "Capital Structure and Dividend Irrelevance with Asymmetric Information", with Zender, Jaime, Review of Financial Studies, vol. 4, pp. 201-219, 1991.
28. "Nonnegative Wealth, Absence of Arbitrage, and Feasible Consumption Streams", with Huang, Chi-fu, Review of Financial Studies, vol. 1, pp. 377-401, 1988.
29. "Book Review of Security Markets: Stochastic Models by Darrell Duffie", Review of Financial Studies, vol. 1, pp. 329-330, 1988.
30. "Distributional Analysis of Portfolio Choice", Journal of Business, vol. 61, pp. 369-393, 1988.
31. "Inefficient Dynamic Portfolio Strategies, or How to Throw Away a Million Dollars in the Stock Market", Review of Financial Studies, vol. 1, pp. 67-88, 1988.
32. "Arbitrage", with Ross, Stephen, The New Palgrave: a Dictionary of Economics, vol. 1, pp. 100-106, 1987.
33. "Tax Clienteles and Asset Pricing", with Ross, Stephen, Journal of Finance, vol. 41, pp. 751-762, 1986.
34. "The Empirical Implications of the Cox, Ingersoll, Ross Theory of the Term Structure of Interest Rates", with Brown, Stephen, Journal of Finance, vol. 41, pp. 617-630, 1986.
35. "Banking Theory, Deposit Insurance, and Bank Regulation", with Diamond, Douglas, Journal of Business, vol. 59, pp. 55-68, 1986.
36. "Yes, the APT is Testable", with Ross, Stephen, Journal of Finance, vol. 40, pp. 1173-1188, 1985.
37. "The Analytics of Performance Measurement Using a Security Market Line", with Ross, Stephen, Journal of Finance, vol. 40, pp. 401-416, 1985.
38. "Differential Information and Performance Measurement Using a Security Market Line", with Ross, Stephen, Journal of Finance, vol. 40, pp. 383-399, 1985.
39. "Acknowledgement: Kinks on the Mean-Variance Frontier", Journal of Finance, vol. 40, pp. 345, 1985.
40. "Short Sales Restrictions and Kinks on the Mean Variance Frontier", Journal of Finance, vol. 39, pp. 239-244, 1984.
41. "An Explicit Bound on Individual Assets' Deviations from APT Pricing in a Finite Economy", Journal of Financial Economics, vol. 12, pp. 483-496, 1983.
42. "Bank Runs, Deposit Insurance, and Liquidity", with Diamond, Douglas W., Journal of Political Economy, vol. 91, pp. 401-419, 1983.
43. "Recovering Additive Utility Functions", International Economic Review, vol. 24, pp. 379-396, 1983.
44. "An Alternative Characterization of Decreasing Absolute Risk Aversion", with Lippman, Stephen, Econometrica, vol. 51, pp. 223-224, 1983.
45. "Duality, Interest Rates, and the Theory of Present Value", Journal of Economic Theory, vol. 30, pp. 98-114, 1983.
46. "Adoption Externalities as Public Goods", with Spatt, Chester, Journal of Public Economics, vol. 20, pp. 231-247, 1983.
47. "Recovering Preferences from Preferences over Nominal Gambles", Journal of Economic Theory, vol. 28, pp. 354-360, 1982.
48. "Portfolio Efficient Sets", with Ross, Stephen, Econometrica, vol. 50, pp. 1525-1546, 1982.
49. "Mean-variance Theory in Complete Markets", with Ingersoll, Jonathan, Journal of Business, vol. 55, pp. 233-251, 1982.
50. "Recovering Cardinal Utility", with Polemarchakis, Heraklis, Review of Economics Studies, vol. 48, pp. 159-166, 1981.
51. "Present Values and Internal Rates of Return", with Ross, Stephen & Spatt, Chester, Journal of Economic Theory, vol. 23, pp. 66-81, 1980.
Gan Li
甘犁
Visiting Associate Professor of Economics
Ph.D., University of California, Berkeley
Introduction
Dr. Gan is a visiting associate professor of Economics at Cheung Kong GSB. Apart from his role at Cheung Kong GSB, he also teaches at the department of Economics, Texas A&M University and is a Faculty Research Fellow at the National Bureau of Economic Research. He got his Ph.D. degree from UC, Berkeley in 1998 and then joined Texas A&M University. In 2005, he was promoted to associate professor. Dr. Gan has published several papers in top journals, including Journal of Political Economy, Journal of American Statistical Association.
Research Interests
Applied Econometrics, Econometrics Theory, Public Economics
Selected Publications
1. "A Simple Model of Optimal Hate Crime Legislation", with Williams III, Roberton, & Wiseman, Thomas, Economic Inquiry, forthcoming.
2. "An Alternative Root-N Consistent Estimator for Panel Data Binary Choice Models", with Ai, Chunrong, Journal of Econometrics, forthcoming in 2010.
3. "Is the Zipf’s Law Spurious in Explaining City-Size Distribution? ", with Li, Dong, & Song, Shunfeng, Economics Letters, vol. 92, pp. 256-262, 2006.
4. "The Thick Market Effect of Local Unemployment Rate Fluctuations", with Zhang, Qinghua, Journal of Econometrics, vol. 133, pp. 127-152, 2006.
5. "Cost Effective Policies to Reduce Vehicle Emissions", with Fullerton, Don, American Economic Review Papers and Proceedings, pp. 300-304, May 2005.
6. "Empirical Estimates of Effect of Price Limits on Limit-Hitting Days", with Chung, Jeff, Econometrics Journal, vol. 8, pp. 79-96, 2005.
7. "A Simulation-Based Welfare Loss Calculation for Labor Taxes with Piecewise-Linear Budgets", with Fullerton, Don, Journal of Public Economics, vol. 88, pp. 2339-59, 2004.
8. "Testing the Barten Model of Economies of Scale in Household Consumption: Toward Resolving a Paradox of Deaton and Paxson", with Vernon, Victoria, Journal of Political Economy, vol. 111 (6), pp. 1361-77, 2003.
9. "The Effect of Bracketing in Wealth Estimation", with Chand, Harish, Review of Income and Wealth, vol. 49 (2), pp. 273-87, June 2003.
10. "The Uncertain Fair-Wage Effort Hypothesis and Wage Secrecy", Topics in Economic Analysis and Policy, vol. 2 (1), pp. 1-15, 2002.
11. "A Test for Global Maximum", with Jiang, Jiming, Journal of American Statistical Association (JASA), vol. 94 (447), pp. 847-54, September 1999.
12. "Risk Aversion in Contests", with Skaperdas, Stergios, The Economic Journal, vol. 105 (431), pp. 951-62, July 1995.
Hu Jie
Teaching Professor of Finance
Ph.D., Kellogg Business School of Northwestern University
Introduction
Dr. Hu received his Ph.D. in Finance from Kellogg Business School of Northwestern University in 1993. Before joining Cheung Kong GSB, Dr. Hu worked in the Finance and IT industries. Known for his entrepreneurial spirit, Dr. Hu is the founder and general manager of Boogoo, and previously served as Vice General Manager in UFIDA Auditing Software, Sr. Vice President of Capital Markets Group in BankBoston etc. His research appeared in many top journals, for example, Journal of Banking and Finance. Dr. Hu has rich experience in executive teaching and consulting in both mainland China and the United States.
Research Interests
US Monetary Policy, Safety and Soundness of Banking Operation, Mergers and Acquisitions in the US Banking Industry, Impact of Derivatives on the US Banking Industry and Financial System
Selected Publications
1. "Insider Trading, Costly Monitoring, and Managerial Incentives", with Noe, Tom, Journal of Banking and Finance, vol. 25, pp. 679-714, 2001.
2. "Mergers and Acquisitions in China", with Dong, Jielin, Economic Review of FRB-A, vol. 80 (6), 1995.
3. "Information Ambiguity: Recognizing Its Role in Financial Markets", Economic Review of FRB-A, vol. 79 (4), 1994.
Hu Qiping (Joseph)
扈企平
Adjunct Professor of Finance
Ph. D., Oklahoma State University
Introduction
Dr. Hu received his Ph. D. in Economics from Oklahoma State University in 1974. Before joining Cheng Kong GSB, Dr. Hu has been working in Renmin University of China as an adjunct professor. He has strong working background in financial field; he served as Managing Director, China Country Head in Standard & Poor’s, Managing Director, Head of Mortgage Research in Oppenheimer & Co., Senior Vice President, Head of Mortgage Research in Nomura Securities International, Inc., etc. He has won several awards for outstanding research, and his paper appeared in many top journals.
Research Interests
Mortgage-Backed Securities and Asset Securitization
Selected Publications
1. "Prospects of Derivative Mortgage Securities", The Handbook of Mortgage Backed Securities, Frank J. Fabozzi, editor, 4th edition, Probus Publishing, 1995.
2. "Modifying the PSA Curve for Newly Issued Mortgage Pass-Throughs", The Handbook of Mortgage Backed Securities, Frank J. Fabozzi, editor, 4th edition, Probus Publishing, 1995.
3. "Housing and the Mortgage Securities Markets: Review, Outlook, and Policy Recommendations", Journal of Real Estate and Economics, April 1992.
4. "An Alternative Prepayment Projection Based on Housing Activity", The Handbook of Mortgage Backed-Securities, Frank J. Fabozzi, editor, revised edition, Probus Publishing, 1988.
5. "Derivative Mortgage Securities: An Overview", Mortgage Research on Wall Street, special issue of the Journal of Real Estate Finance and Economics, July 1988.
6. "REMICs: Perfecting the Securitization of Mortgages", The Real Estate Finance Journal, Summer 1987.
7. "Adjustable Rate Mortgages", The Handbook of Mortgage Backed Securities, Frank J. Fabozzi (ed.), Probus Publishing, 1985.
8. "Housing Finance in a Deregulated Environment", The Handbook of Mortgage Backed Securities, Frank J. Fabozzi (ed.), Probus Publishing, 1985.
Liao Jianwen
Teaching Professor of Strategy
Ph.D., Southern Illinois University at Carbondale
Introduction
Dr. Liao is also an associate professor of Entrepreneurship and Strategy at the Stuart School of Business, Illinois Institute of Technology. Dr. Liao's research focuses on venture creation process, entrepreneurial growth strategies and management of technological innovation as well. His research has appeared in academic journals such as Strategic Entrepreneurship Journal, Small Business Economics, Entrepreneurship Theory and Practice, and Journal of Small Business Management, among others. Dr. Liao is a member of Academy of Management (AOM), the United States Association of Small and Medium-Sized Business and Entrepreneurship (USASBE) and International Council of Small Business (ICSB). Additionally, he has served on the regional advisory board of the United States Small Business Administration (SBA) since 2001. Dr. Liao was co-founder of a biotech startup targeting researchers in pharmaceutical, biotechnology, and research organizations.
Research Interests
Entrepreneurial Dynamics, including: Venture Formation, Business Planning, and Venture Growth, Technology Innovation
Selected Publications
1. "The Influence of Pre-Venture Planning on New Venture Creation", with Gartner, W., Journal of Small Business Strategy, vol. 19, pp. 1-32, 2008.
2. "Environmental Turbulence and Information Search Activities in SMEs: The Moderating Effect of Organizational Maturity", with Welsch, H. & Stoica, M., Journal of Small Business Strategy, vol. 19(1), pp. 17-33, 2008.
3. "Start-up Resources and Entrepreneurial Discontinuance: the Case of Nascent Entrepreneurs", with Moutray, C., & Welsch, H., Journal of Small Business Strategy, vol. 19(2), pp. 1-15, 2008.
4. "Patterns of Venture Gestation Process: Exploring the Differences between Tech and Non-tech Nascent Entrepreneurs", Welsch, H., Journal of High Technology Management Research, vol. 19, pp. 103-113, 2008.
5. "Organizational Dynamic Capability and Innovation: An Empirical Examination of Internet Firms", with Kickul, J., & Ma, H., Journal of Small Business Management, 2008.
6. "A Conceptual History of Entrepreneurial Thoughts", with Murphy, P. & Welsch, H., Journal of Management History, vol. 12(1), pp. 12-35, 2006.
7. "Venture Gestation Paths of Nascent Entrepreneurs: Exploring the Temporal Patterns", with Welsch, H., Journal of High Technology Management Research, vol. 16(1), pp. 1-22, 2005.
8. "Roles of Social Capital in Venture Creation: Key Dimensions and Research Implications", with Welsch, H., Journal of Small Business Management, vol. 43(4), pp. 345-362, 2005.
9. "Social Capital and Entrepreneurial Growth Aspiration: A Comparison of Technology and Non-Technology-Based Nascent Entrepreneurs", with Welsch, H., Journal of High Technology Management Research, vol. 14(1), pp. 149-170, 2003.
10. "Organizational Absorptive Capacity and Responsiveness: An Empirical Investigation of Growth-oriented Small and Medium-Sized Enterprises", with Stoica, M. & Welsch, H., Entrepreneurship Theory and Practice, vol. 28(1), pp. 63-85, 2003.
11. "Information Technology Investment: The Effects of Institutional Isomorphism", Journal of High Technology Management Research, vol. 7, pp. 37-52, 1996.
Lu Biao (Bill)
陆飙
Adjunct Professor of Finance
Ph.D., Yale University
Introduction
Dr. Lu earned his Ph.D. in Economics from Yale University in 1998. Before joining Cheung Kong GSB, he had rich working experience in the Finance industry. He was assigned as the Managing Director and Head of Hedge Fund Investments in China Investment Corporation this October; previously he served as Head of China Office and Operations in Tudor Investment Corporation, Senior Financial Analyst in AIG Global Investment Group, etc. He also had many articles published in top academic journals including Journal of Monetary Economics, Journal of Economic Dynamics and Control and Journal of Econometrics.
Research Interests
Currency Futures, Interest Rate Term Structure
Selected Publications
1. "Macroeconomic Releases and the Interest Rate Term Structure", with Wu, Liuren, Journal of Monetary Economics, September 2009. (Invited presentations at Stern School of Business, New York University in October 2005 and European Finance Association Meetings in August 2006)
2. "Currency Futures-Spot Basis and Risk Premium", with Inci, Ahmet C., Journal of International Financial Markets, Institutions & Money, pp.180-197, January 2007.
3. "Exchange Rates and Interest Rates: Can Term Structure Models Explain Currency Movements?", with Inci, Ahmet C., Journal of Economic Dynamics and Control, pp. 1595-1624, 2004. (Invited presentation at Goldman Sachs Asset Management in August 2002)
4. "Consistent Model and Moment Selection Criteria for GMM Estimation with Application to Dynamic Panel Data Models", with Andrews, Donald W. K., Journal of Econometrics, pp. 142-186, March 2001. (Invited presentation at the American Statistical Association Meetings in August 2000)
James A. Ohlson
Visiting Professor of Accounting
Ph.D., University of California at Berkeley
Introduction
Dr. Ohlson is a visiting professor of Accounting at Cheung Kong. He is also the W. P. Carey Chair in Accountancy at Arizona State University. He has taught at the Stern School of Business at New York University, Columbia University, the University of California at Berkeley, and the University of California at Los Angeles. Dr. Ohlson has served as an editorial board member for Review of Quantitative Finance and Accounting, Review of Accounting Studies, and The British Accounting Review.
Research Interests
Financial Accounting Theory, Financial Statement Analysis, Equity Valuation, Capital Market Theory
Selected Publications
1. "On Accounting-Based Valuation Formulae", Review of Accounting Studies, Jun-Sep 2005.
2. "Expected EPS and EPS Growth as Determinants of Value", Review of Accounting Studies, Jun-Sep 2005.
3. "The Basic Concepts Related to the Returns on Earnings Regression", Journal of Contemporary Accounting and Economics, June 2005.
4. "Accounting-Based Valuation with Changing Interest Rates", with Gode, Dan, Review of Accounting Studies, December 2004.
5. "Positive (Zero) NPV Projects and the Behavior of Residual Earnings-Discussion", with Pope, Peter & Wang, Pengguo, Journal of Business Finance & Accounting, Jan-Mar 2003.
6. "Residual Income and Value-Creation: The Missing Link", Review of Accounting Studies, Jun-Sep 2002.
7. "Earnings, Book Values, and Dividends in Equity Valuation: An Empirical Perspective", Contemporary Accounting Research, Spring 2001.
8. "The Feltham-Ohlson (1995) Model: Empirical Implications", with Liu, Jing, Journal of Accounting, Auditing & Finance, Summer 2000.
9. "On the Theory of Forecast-Horizon in Equity Valuation", with Zhang, X.-J., Journal of Accounting Research, Autumn 1999.
10. "On Transitory Earnings", Review of Accounting Studies, December 1999.
11. "Earnings, Book Values, and Dividends in a Stewardship Setting with Moral Hazard," Contemporary Accounting Research, Fall 1999.
12. "Residual Earnings Valuation With Risk and Stochastic Interest Rates", with Feltham, G., The Accounting Review, April 1999.
13. "Discussion of An Analysis of Historical and Future-Oriented Information in Accounting-Based Security Valuation Models", Contemporary Accounting Research, Summer 1998.
14. "Comments on Brand Values and Capital Market Valuation", Review of Accounting Studies, June 1998.
15. "Accrual Accounting and Equity Valuation", with Zhang, X.-J., Journal of Accounting Research, Supplement 1998.
16. "Uncertainty Resolution and the Theory of Depreciation Measurement", with Feltham, G., Journal of Accounting Research, Autumn 1996.
17. "Accounting Earnings, Book Value, and Dividends: The Theory of the Clean Surplus Equation (Part I)", in Clean Surplus: A Link Between Accounting and Finance, edited by R.P. Brief and K.V. Peasnell, Garland Publishing, 1996.
18. "Valuation and Clean Surplus Accounting for Operating and Financial Activities", with Feltham, G., Contemporary Accounting Research, Spring 1995.
19. "Earnings, Book Value and Dividends in Security Valuation", Contemporary Accounting Research, Spring 1995
20. "Changes vs. Levels in Earnings as Explanatory Variables for Returns: Some Theoretical Considerations", with Shroff, P., Journal of Accounting Research, Fall 1992.
21. "Disaggregated Accounting Data As Explanatory Variables for Returns", with Penman, S., Journal of Accounting, Auditing, and Finance, Fall 1992.
22. "Aggregate Accounting Earnings Can Explain Most of Security Returns: The Case of Long Return Intervals", with Easton, P. & Harris, T., Journal of Accounting and Economics, Jun-Sep 1992.
23. "The Theory of Value and Earnings, and an Introduction to the Ball-Brown Analysis", Contemporary Accounting Research, Fall 1991.
24. "Accounting Disclosures and the Market's Valuation of Oil and Gas Properties: Evaluation of Market Efficiency and Functional Fixation", with Harris, T., The Accounting Review, October 1990.
25. "Evaluation of Market Efficiency for Supplementary Accounting Disclosures: The Case of Pension Assets and Liabilities", with Landsman, Wayne, Contemporary Accounting Research, Fall 1990.
26. "A Synthesis of Security Valuation Theory and the Role of Dividends, Cash Flows, and Earnings", Contemporary Accounting Research, Spring 1990.
27. Discussion of 'Trading Volume Theories and Their Implications for Empirical Information Content Studies'", Contemporary Accounting Research, Fall 1989.
28. "Ungarbled Earnings and Dividends: An Analysis and Extension of the Beaver, Lambert, and Morse Valuation Model", Journal of Accounting and Economics, July 1989.
29. "Discussion of 'A comparative Examination of the Time-Series Properties and Predictive Ability of Annual Historical Cost and General Price Level Adjusted Earnings'", Contemporary Accounting Research, Spring 1988.
30. "The Social Value of Information in Production Economies," in W. Ziemba and G. Feltham (eds.), Essays in Honor of John Butter- worth, Kluwer-Nijhoff Publishing, Boston, 1988.
31. "Accounting Disclosures and the Market's Valuation of Oil and Gas Properties", with Harris, T., The Accounting Review, October 1987.
32. "On the Nature of Income Measurement", Contemporary Accounting Research, Fall 1987.
33. "Volatility Increases Subsequent to Stock Splits; An Empirical Aberration", with Penman, S., Journal of Financial Economics, June 1985.
34. "Stockholder Ex Post Unanimity: A Complete and Simplified Treatment", Journal of Banking and Finance, October 1985.
35. "Comment on Verrecchia's No Trading 'Theorem'", with Hakansson, N. & Kunkel, G., Journal of Accounting Research, Autumn 1984.
36. "The Structure of Asset Prices and Socially Useless (Useful) Information", Journal of Finance, December 1984.
37. "Price-Earnings Ratios and Earnings Capitalization under Uncertainty", Journal of Accounting Research, Spring 1983.
38. "Market-Based Empirical Research in Accounting: Review Interpretation and Extension", with Lev, Baruch, Supplement of Journal of Accounting Research, 1982.
39. "Book Rate-of-Return and Earnings Changes: An Empirical Investigation", with Freeman, R. & Penman, S., Journal of Accounting Research, Autumn 1982.
40. "Sufficient and Necessary Conditions for Information to Have Social Value in Pure Exchange", with Hakansson, N. & Kunkel, G., Journal of Finance, December 1982.
41. "Systematic Risk of the CRSP Equal-Weighted Common Stock Index: A History Estimated by Stochastic Parameter Regression", with Rosenberg, B., Journal of Business, January 1982.
42. "Valuation of Risky Assets in Arbitrage Free Economies with Transaction Costs", with Garman, M., Journal of Financial Economics, September 1981.
43. "Towards a Theory of Financial Accounting: Welfare and Public Information", with Buckman, G., Journal of Accounting Research, Autumn 1981.
44. "Information and the Sequential Valuation of Assets in Arbitrage-Free Economies", with Garman, M., Journal of Accounting Research, Autumn 1980.
45. "A Dynamic Equilibrium for the Ross Arbitrage Model", with Garman, M., Journal of Finance, June 1980.
46. "Financial Ratios and the Probabilistic Prediction of Bankruptcy", Journal of Accounting Research, Spring 1980.
Ou-Yang Hui
欧阳辉
Adjunct Professor of Finance
Ph.D., University of California at Berkeley
Introduction
Dr. Ou-Yang Hui teaches at Cheng Kong GSB as an adjunct professor. He previously taught at Duke from 2001 to 2006 as well as University of North Carolina, Chapel Hill from 1998 to 2001. Dr. Ou-Yang has won several awards for outstanding research and teaching performance. In addition to his work with Lehman Brothers, he has worked with the Western Financial Association (WFA) since 2004.
Research Interests
Corporate Finance, Dynamic Asset Pricing Theory and its Applications, Global Financial Management Real Options and Venture Capital
Selected Publications
1. "Differences of Opinion of Public Information and Speculative Trading in Stocks and Options", with Cao, H., Review of Financial Studies, vol. 22 (1), pp. 299-335, 2009. (Winner of the Society of Quantitative Analysts Award at the 2005 Western Finance Association Meetings)
2. "Capital Structure, Debt Maturity, and Stochastic Interest Rates", with Ju, N., Journal of Business, vol. 79, 2006.
3. "Incentives and Performance in the Presence of Wealth Effects and Endogenous Risk", with Guo, M., Journal of Economic Theory, vol. 129, pp. 150-191, 2006.
4. "Prospect Theory and Liquidation Decisions", with Kyle, A. S. & Xiong, W., Journal of Economic Theory, vol. 129, pp. 273-288, 2006
5. "Estimation of Continuous-Time Models with an Application to Equity Volatility", with Bakshi, G. & Ju, N., Journal of Financial Economics, vol. 82, pp. 227-249, 2006.
6. "An Equilibrium Model of Asset Pricing and Moral Hazard", Review of Financial Studies, vol. 18, pp. 1219-1251, 2005.
7. "Optimal Contracts in a Continuous-Time Delegated Portfolio Management Problem", Review of Financial Studies, vol. 16, pp. 173-208, 2003. (Awarded the Barclays Global Investors/ Michael Brennan Runner-Up; Award for the best paper published in Volume 16)
Wang Jiang
王江
Visiting Professor of Finance
Ph.D., University of Pennsylvania
Introduction
Dr. Wang Jiang received his Ph.D. in Physics in 1985 and in Finance in 1990 from the University of Pennsylvania. He is also the Mizuho Financial Group Professor at the MIT Sloan School of Management. Dr. Wang’s publications have been widely cited by leading media including SSCI and the Financial Times. He has received numerous awards for research excellence including the prestigious Smith-Breeden Prize, Leo Melamed Prize and the Battermarch Fellowship. In 2007, he was elected as a Director of the American Financial Association.
Research Interests
Asset Pricing, Investment and Risk Management, International Finance
Selected Publications
1. "Liquidity and Market Crashes”, with Huang, J., Review of Financial Studies, forthcoming.
2. "Firms as Buyers of Last Resort: Financing Constraints, Stock Returns and Liquidity”, with Hong, H. & Yu, J.L., Journal of Financial Economics, 2007.
3. "Trading Volume: Implications of An Intertemporal Asset Pricing Model”, with Lo, Andrew, Journal of Finance, 2005.
4. "Evaluating Portfolio Policies: A Duality Approach", with Haugh, Martin & Kogan, Leonid, Operations Research, 2005.
5. "The Price Impact and Survival of Irrational Traders”, with Kogan, L., Ross, S. & Westerfield, M., Journal of Finance, 2005. (Received the FAME Research Prize for 2004)
6. "Asset Prices and Trading Volume Under Fixed Transactions Costs", with Mamaysky, H. & Lo, A., Journal of Political Economy, vol. 112(5), pp. 1054-1090, 2004.
7. "Dynamic Volume-Return Relations of Individual Stocks", with Llorente, G., Michaely, R. & Saar, G., Review of Financial Studies, vol. 15, pp. 1005-1047, 2002.
8. "Trading Volume and Asset Prices", Annals of Economics and Finance, vol. 3, pp. 299-350, 2002.
9. "Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation", with Mamaysky, H. & Lo, A., Journal of Finance, vol. 55, pp. 1705-1770, 2000.
10. "Trading and Returns Under Periodic Market Closures", with Hong, H., Journal of Finance, 55, 297-354, 2000.
11. "Trading Volume: Definitions, Data Analysis, and Implications of Portfolio Theory", with Lo, A., Review of Financial Studies, vol. 13, pp. 257-300, 2000.
12. "The Term Structure of Interest Rates in A Pure Exchange Economy with Heterogeneous Investors", Journal of Financial Economics, vol. 41, pp. 75-110, 1996.
13. "Differential Information and Dynamic Behavior of Stock Trading Volume", with He, H., Review of Financial Studies, vol. 8, pp. 919-972, 1995.
14. "Implementing Option Pricing Formulas When Asset Returns Are Predictable", with Lo, A., Journal of Finance, vol. 50, pp. 87-130, 1995.
15. "A Model of Competitive Stock Trading Volume", Journal of Political Economy, vol. 102, pp. 127-167, 1994.
16. "Trading Volume and Serial Correlation in Stock Returns", with Campbell, J. & Grossman, S., Quarterly Journal of Economics, vol. 108, pp. 905-940, 1993.
17. "A Model of Intertemporal Asset Prices under Asymmetric Information", Review of Economic Studies, vol. 60, pp. 249-282, 1993.
Xie Jialin
谢家琳
Visiting Professor of Organizational Behavior
Ph.D., Concordia University
Introduction
Dr. Xie received her Ph.D. from Concordia University in Montreal, Canada. She also is teaching at the University of Toronto (with tenure). Her research has been published in numerous internationally recognized journals including Academy of Management Journal. Additionally, Dr. Xie has served as a member of the International Theme Committee of the Academy of Management since 2000. She was also the Chair of the Evaluation Committee for International Paper Awards of the Academy of Management, and serves as the overseas Counselor for the Society of Shanghai Behavioral Science, China.
Research Interests
Cross-Cultural Organizational Behavior, Job Design, Job Stress, Knowledge Management
Selected Publications
1. "Theories of Job Stress and the Role of Traditional Values: A Longitudinal Study in China", with Lam, S. & Schaubroeck, J., Journal of Applied Psychology, vol. 93, pp. 831-844, 2008.
2. "Individual Differences in Utilizing Control to Cope With Job Demands: Effects On Susceptibility to Infectious Disease", with Jones, J. R. & Schaubroeck, J., Journal of Applied Psychology, vol. 86, pp. 265-278, 2001.
3. "Collective Efficacy Versus Self-Efficacy in Coping Responses to Stressors and Control: A Cross-Cultural Study", with Lam, S. & Schaubroeck, J., Journal of Applied Psychology, vol. 85, pp. 512-525, 2000.
4. "Perception of Absence From Work: The People's Republic of China Versus Canada", with Johns, G., Journal of Applied Psychology, vol. 83, pp. 515-530, 1998.
5. "Karasek's Model In the People's Republic of China: Effects of Job Demands, Control, and Individual Differences", Academy of Management Journal, vol. 39, pp. 1594-1618, 1996.
6. "Job Scope and Stress: Can Job Scope Be Too High?", with Johns, G., Academy of Management Journal, vol. 38, pp. 1288-1309, 1995.
Yan Aimin
阎爱民
Visiting Professor of Organizational Behavior
Ph.D., Pennsylvania State University
Introduction
Dr. Yan is a professor at Boston University. He previously taught at Pennsylvania State University. He has published his work widely in leading journals such as the Academy of Management Review, Journal of Management Studies. Additionally, he authored a number of books as well as received numerous research awards. Dr. Yan is also a fellow at the American Management Association and International Business Academy, and is on the editorial boards of Journal of International Management and Harvard Business Review (Chinese Edition).
Research Interests
International Joint Ventures, Global Alliances and Competitiveness, Organizational Designs in Emerging Markets, Organizational Development and Evolution
Selected Publications
1. "Boundary Matters: Impact of Boundary Activities on Software Team Performance", with Faraj, S, Journal of Applied Psychology, 2008.
2. "Toward a Model of Governance and Legality in Transforming Economies: Empirical Evidence from China", with Manev, A. Manolova, T. S., Thunderbird International Business Review, vol. 47(3), pp. 313-334, 2005.
3. "International Assignments for Career Building: Agency Relationships and Psychological Contracts", with Hall, D.T. & Zhu, G., Academy of Management Review, vol. 27(3), pp. 373-391, 2002.
4. "International Joint Venture Instability: A Critique of Previous Research, a Reconceptualization and Directions for Future Research", with Zeng, M., Journal of International Business Studies, vol. 30(2), pp. 397-414, 1999.
5. "Structural Stability and Reconfiguration of International Joint Ventures", Journal of International Business Studies, vol. 29(4), pp. 773-796, 1998.
6. "Bargaining Power, Management Control, and Performance in U.S.-China Joint Ventures: A Comparative Case Study", with Gray, B., Academy of Management Journal, vol. 37(6), pp. 1478-1517, 1994.
Zeng Ming
曾鸣
Adjunct Professor of Strategy
Ph.D., University of Illinois at Urbana-Champaign
Introduction
Before joining to Cheung Kong GSB, Dr. Zeng served on the faculty at INSEAD from 1998 to 2004. His research has been published in many top management journals including Academy of Management Review, Organization Science, Journal of International Business Studies. Additionally, Dr. Zeng has been working closely with leading Chinese companies including Haier, Legend, TCL and Alibaba. His case on "Haier's Acquisition Strategy" won the Pedro Nueno prize from the European Foundation for Management Development Case Competition, and is widely used at most business schools. His recent co-authored book, "Dragons at Your Door", published by Harvard Business Review, analyzed the globalization strategy of Chinese firms.
Research Interests
Competition and Cooperation between Chinese and Multinational Firms, Global Competition Strategy, Strategies of Chinese Companies
Selected Publications
1. "Achieving Cooperation in Multi-Partner Alliances: A Social Dilemma Approach to Partnership Management", with Chen, Xiao-ping, Academy of Management Review, vol. 28(4), pp. 587-605, 2003.
2. "Cross-Cultural Differences and Joint Venture Longevity", with Hennart & Jean-Francois, Journal of International Business Studies, vol. 33(4), 2003.
3. "International Joint Venture Instability: A Critique of Previous Research, A Reconceptualization, and Directions for Future Research", with Yan, Aimin, Journal of International Business Studies, vol. 30(2), pp. 397-414, 1999.
4. "Why are Joint Ventures Short-lived: Strategic Choice or Business Failure? An Investigation of Japanese Affiliates in the United States", with Hennart, Jean-Francois & Kim, Dong-Jae, Organization Science, l vol. 9 (3), pp. 1-14, 1998.
Zhang Zhong (John)
张忠
Teaching Professor of Marketing
Ph.D., University of Michigan
Introduction
Dr. Zhang is a professor of Marketing at University of Pennsylvania. Dr. Zhang received a Ph.D. and MA in Economics from the University of Michigan, a Ph.D. and MA in History and Sociology of Science and Technology from the University of Pennsylvania. His research has been published in top-tier academic journals including Marketing Science, Management Science and the Journal of Marketing Research. He also serves as Area Editor for Marketing Science and Quantitative Marketing and Economics, and on the Editorial Board for the Journal of Marketing, Journal of Interactive Marketing and has won numerous academic and teaching awards. Professor Zhang currently teaches Marketing Management to Executive MBA students, and Pricing Strategies to undergraduate and MBA. He also teaches pricing strategies to executives in China.
Research Interests
Targeted Pricing and Other Pricing Strategies, Competitive Strategies, Market Entry and Channel and Retail Management
Selected Publications
1. "Should Price Increases be Targeted?–Pricing Power and Selective Versus Across-the-board Price Increases", with Feinberg, Fred & Krishna, Aradhna, Management Science, vol. 53(9), pp. 1407-1422, September 2007.
2. "Fairness and Channel Coordination", with Cui, Tony & Raju, J., Management Science, vol. 53(8), August 2007.
3. "From Storyline to Box Office: A New Approach for Green-Lighting MovieScripts", with Eliashberg, Jehoshua & Hui, Kachuen, Management Science, vol. 53(6), pp. 881-893, June 2007.
4. "Note on Self-Restraint as an Online Entry-Deterrence Strategy", with Liu, Yunchuan & Gupta, Sunil, Management Science, vol. 52(11), pp. 1799-1809, November 2006.
5. "Research Note: The Benefits of Personalized Pricing in a Channel", with Liu, Yunchuan, Marketing Science, vol. 25(1), pp. 97-105, January-February 2006.
6. "Research Note—Price Discrimination After the Purchase: A Note on Rebates As State-Dependent Discounts", with Chen, Yuxin & Moorthy, Sridhar, Management Science, vol. 51(7), pp. 1131-1140, July 2005.
7. "Channel Coordination in the Presence of a Dominant Retailer", with Raju, Jagmohan, Marketing Science, vol. 24(2), pp. 254-262, 2005.
8. "Augmenting Conjoint Analysis to Estimate Consumer Reservation Price", with Jedidi, Kamel, Management Science, vol. 48(10), pp. 1350-1368, 2002.
9. "Competitive One-to-One Promotions", with Shaffer, Greg, Management Science, vol. 48(9), pp. 1143-1160, 2002.
10. "Pricing Access Services", with Essegaier, Skander & Gupta, Sunil, Marketing Science, vol. 21(2), pp. 160-177, 2002.
11. "Do We Care What Others Get? A Behaviorist Approach to Targeted Promotions", with Feinberg, Fred & Krishna, Aradhna, Journal of Marketing Research, vol. 39, pp. 277-291, August 2002.(finalist for the 2007 O’Dell Award for the most impactful JMR paper 5 years later).
12. "Research Note: Consumer Heterogeneity and Competitive Price-Matching Guarantees", with Chen, Yuxin & Narasimhan, Chakravarthi, Marketing Science, vol. 20(3), pp. 300-314, 2001.
13. "Individual Marketing with Imperfect Targetability", with Chen, Yuxin & Narasimhan, Chakravarthi, Marketing Science, vol. 20(1), pp. 23-41, 2001.(Winner for 2001 John C. Little Award and Frank Bass Award).
14. "Market Entry Strategy under Firm Heterogeneity and Asymmetric Payoffs", with Narasimhan, Chakravarthi, Marketing Science, vol. 19(4), pp. 313-327, 2000.
15. "Pay to Switch or Pay to Stay: Preference-Based Price Discrimination in Markets with Switching Costs", with Shaffer, Greg, Journal of Economics and Management Strategy, vol. 9, pp. 397-424, Fall 2000.
16. "The Optimal Choice of Promotional Vehicles: Front-Loaded or Rear-Loaded Incentives?", with Dhar, Sanjay K. & Krishna, Aradhna, Management Science, vol. 46, pp. 348-362, March 2000.
17. "Short or Long-Duration Coupons: The Effect of the Expiration Date on the Profitability of Coupon Promotions", with Krishna, Aradhna, Management Science, vol. 45, pp. 1041-1056, August 1999.
18. "Accounting Profits versus Marketing Profits: A Relevant Metric for Category Management", with Chen, Yuxin, Hess, James D. & Wilcox, Ronald T., Marketing Science, vol. 18(3), pp. 208-229, 1999.
19. "Competitive Coupon Targeting", with Shaffer, Greg, Marketing Science, vol. 14(4), pp. 395-416, 1995.
20. "Price-Matching Policy and the Principle of Minimum Differentiation", Journal of Industrial Economics, vol. 43, pp. 287-299, September 1995.
Kevin Zhu
祝效国
Visiting Associate Professor of Operations Management
Ph.D. Stanford University
Introduction
Dr. Zhu received his Ph.D. from Stanford University. He is also an associate professor (with tenure) at the University of California, San Diego. Many of his academic papers have been published in top journals including Management Science, Information System Research, and MIS Quarterly. Dr. Zhu also serves on NSF research proposal review panels and holds editorial positions at top journals including Management Science, and Information System Research. During his academic career, Dr. Zhu has received many awards for outstanding research, including the prestigious CAREER Award by the U.S. National Science Foundation for his research on digital transformation of enterprises.
Research Interests
Economic Impacts of IT on Firms and Industries, Game Theory in Technology and Operations Management, Information Transparency in Electronic Markets, Innovation Diffusion in Global Environments, IT-Enabled Supply Chains, Real Options for Technology Investment and Licensing, Standards-Based Competition
Selected Publications
1. "Information Technology in Supply Chains: The Role of IT-enabled Resources under Competition", with Dong, S., & Xu, S., Information Systems Research, 2009.
2. "IT Value in Supply Chains: The Role of IT-enabled Resources under Competition", with Dong, S., & Xu, S., Information Systems Research, 2008.
3. "The Process of Innovation Assimilation by Firms in Different Countries: A Technology Diffusion Perspective", with Kraemer, K., & Xu, S., Management Science, vol. 52 (10), pp. 1557-1576, 2006.
4. "Migration to Open-Standard Interorganizational Systems: Network Effects, Switching Costs, and Path Dependency", with Gurbaxani, V., Kraemer, K., & Xu, S., MIS Quarterly, vol. 30, special issue on standards, pp. 515-539, 2006.
5. "Post-Adoption Variations in Usage and Value of E-Business by Organizations: Cross-Country Evidence from the Retail Industry", with Kraemer, K., Information Systems Research, vol. 16 (1), pp. 61-84, 2005.
6. "Information Transparency of Business-to-Business Electronic Markets: A Game-Theoretic Analysis", Management Science, vol. 50 (5), pp. 670-685, 2004.
7. "Ecommerce Metrics for Net-Enhanced Organizations: Assessing the Value of Ecommerce to Firm Performance in the Manufacturing Sector", with Kraemer, K., Information Systems Research, vol. 13 (3), pp. 275-295, 2002.
3. Research Fellows
Bai Yunxia
白云霞
Research Fellow of Accounting
Ph.D., Xiamen University
Introduction
Bai is a research fellow of Accounting at Cheung Kong GSB. She received her Ph.D. in accounting from Xiamen University in 2004 and her post-doctorate diploma from Guanghua School of Management at Peking University. She is an associate professor at Tongji University.
Research Interests
Financial Accounting, Corporate Finance
Selected Publications
1. "State Ownership, Excess Employment and Operating Performance", Management World, October 2008.
2. "Information Disclosure and Earnings Management around Privatization of State Shares", China Accounting Research, October 2008.
3. "The Impact of Takeovers and Change of Ultimate Control on Operating Performance of State-owned Enterprises", Financial Research, June 2008.
4. "Firm Performance, Asset Acquisition and the Method of Controlling Rrights Transfer: Evidence from the Chinese Market", International Review of Economics & Finance, vol. 17, 2008.
5. "The Impact of Asset Acquisition on the Method of Controlling Rights Transfer: Evidence from Chinese Market", with Lin, Bing-Xuan, Shaw K., Wu, Liansheng & Yunxia, Chen, International Review of Economics & Finance, vol. 17, pp. 138-149, 2008.
Ding Jiali
丁嘉莉
Research Fellow of Marketing
Ph.D., Peking University
Introduction
Ding is currently a research fellow at Cheung Kong GSB. She received her Ph.D. from Peking University and was a visiting scholar at the Wharton School at the University of Pennsylvania. Prior to her doctoral study, she worked at Huawei Technologies Co., Ltd as an engineer. She is a member of the American Marketing Association (AMA) and INFORMS Society for Marketing Science (ISMS).
Research Interests
Database Marketing, Social Network and Contagion, Latent Variable Models, Individual Choice Behavior, Pricing Strategy, Consumer Behavior
Selected Publications
1. "Ownership Effects in Consumers' Brand Extension Evaluations", with Fu, Guoqun & Qu, Riliang, Journal of Brand Management, vol.16(4), pp. 221-233, 2009.
2. "Identify the Influentials and Imitators in Fashion Contagion Using Scanner Data", with Iyengar, Raghuram, Fu, Guoqun & Zhang, Z. John, 2008 INFORMS Marketing Science Conference, Vancouver, Canada, June 2008.
3. "Moderating Effects of Evaluation Modes on Consumers’ Brand-Quality Perceptions", with Fu, Guoqun, Tu, Ping & Wang, Hansheng, Application of Statistics and Management, vol. 25(6), December 2007.
4. "Ownership Effects in Consumer Brand Extension Evaluations", with Fu, Guoqun, Frontiers of Business Research in China, vol. 1(2), 2007.
5. "A Position-Activity-Staff Model of BPR (Business Process Reengineering) ", Chinese Journal of Management Science, vol. 8(4), December 2000.
6. "Leadership in Elite-Group Type of Organization", Entrepreneur, 1999.
Fu Shihe
傅十和
Research Fellow of Economics
Ph.D., Boston College and Chinese Academy of Social Sciences
Introduction
Dr. Fu is also an associate professor of Economics at Southwestern University of Finance and Economics (SWUFE), China. He earned his Ph.D. in Economics from Boston College in 2005. He worked at Torto Wheaton Research as a real estate economist and Harvard Business School as a research associate before joining SWUFE in 2006.
Research Interests
Urban and Real Estate Economics, Applied Econometrics
Selected Publications
1. "La Croissance Urbaine Chinoise Reconsidérée", with Chen, Zhihong, Dimou, Michel & Schaffar, Alexandra, Région et Développement, vol. 26, pp. 109-131, 2008.
2. "The R&D Survey-Patent Database Link Project", with Kerr, William, Journal of Technology Transfer, vol. 33, pp. 173-186, 2008.
3. "Smart Cafe Cities: Testing Human Capital Externalities in the Boston Metropolitan Area", Journal of Urban Economics, vol. 61, pp.86-111, 2007.
Liu Fang
刘芳
Research Fellow of Finance
Ph.D., Catholic University of Leuven, Belgium
Introduction
Dr. Liu is a research fellow at Cheung Kong GSB. She received her Ph.D. in Finance from the Catholic University of Leuven in Belgium. She previously worked as a project researcher for the European Investment Bank and as a financial analyst at the Zhoutong Research Institute.
Research Interests
Asset Pricing, Behavioral Finance
Selected Publications
1. "The Forex Forward Puzzle: the Career Risk Hypothesis", with Sercu, Piet, Financial Review, vol. 44 (3), pp. 371-404, 2009.
2. "The Forex Forward Puzzle: The Roles of Exchange-Rate Regime and Base-Currency Strength", with Sercu, Piet, World Economy, vol. 32 (7), pp. 1075-1090, 2009.
3. "The Forward Puzzle: Long-term Memory Bias and Short-term Expectation", with Sercu, Piet, Asia-Pacific Journal of Financial Studies, vol. 36, pp. 135-161, 2007.
1.
Xu Yongxin
徐永新
Research Fellow of Finance
Ph.D., Tsinghua University
Introduction
Dr. Xu is a research fellow of Finance at Cheung Kong GSB. Apart from his role at Cheung Kong GSB, he will receive his Ph.D. in Finance from Tsinghua University. He has won research awards during his academic career to date, and has submitted research papers to several academic or business journals.
Research Interests
Financial Accounting, Corporate Finance, Financial Analysis, Politics and Regulation
Selected Publications
1. "Research on the Market Reaction of Stock Recommendation in Financial Media", Management World, 2009.(in Chinese)
Xue Mei
薛梅
Research Fellow of Operation Management
Ph.D., University of Pennsylvania
Introduction
Xue Mei is also an associate professor with tenure (effective September 2009) of Operations Management at the Carroll School of Management at Boston College. She received her Ph.D. in Management Science and applied Economics and an A.M in Operations and Information Management. Dr. Xue was appointed as a WeBi fellow of the Wharton E-Business Initiative in 2001 and sits on the editorial review board of Production and Operations Management Journal, the flagship research journal of the Production and Operations Management Society (POMS). Dr. Xue helped to found the Overseas Chinese Scholars Association in Management Science and Engineering (OCSAMSE) in 2007 and has continued to serve as the secretary of OCSAMSE since then. She is also a guest co-editor of the special issue of Production and Operations Management on "The Theory and Application of Operation Management in China".
Research Interests
Service Operations Management, the Management of Multi-channel Delivery Systems of Service Industries (e.g. Retail Banking), Service Co-production and Customer Efficiency Management (CEM), Process Design and Contracting of Knowledge-intensive Services (e.g. Consulting and Brokerage), and Productivity and Efficiency Analysis of Service Industries including Banking, Consulting, Retail and Healthcare
Selected Publications
2. "The Determinants and Outcome of Internet Banking Adoption", (Conditional Acceptance for minor revision) with Hitt, L. M., Chen, P., Management Science (An earlier version is listed as Marketing Science Institute (MSI) Working Paper 07-122 and featured in MSI Winter Report 2007-2008)
3. "Service Co-production with Information Stickiness and Incomplete Contracts: Implications for Consulting Service Design", with Field, J. M., Production and Operations Management, vol. 17(3), pp. 357-372, 2008.
4. "Customer Efficiency, Channel Usage and Firm Performance in Retail Banking", with Hitt, L. M., Harker, P. T., Manufacturing & Service Operations Management, vol. 9(4), pp. 35-558, 2007.
5. "Consumer and Co-producer Roles in E-service: Analyzing Efficiency and Effectiveness of E-service Designs", with Heim, G. R., Harker, P. T., International Journal of Electronic Business, vol. 3(2), pp. 174-197, 2005.
6. "Note-ranking DMUs with Infeasible Super-Efficiency DEA Models", with Harker, P. T., Management Science, vol. 48(5), pp. 705-710, 2002.
7. "Customer Efficiency: Concept and its Impact on E-business Management", with Harker, P. T., Journal of Service Research, vol. 4(4), pp. 253-267, 2002.
Ye Dongyan
叶冬艳
Research Fellow of Finance
Ph.D., Tsinghua University
Introduction
Dr. Ye is a research fellow of Finance at Cheung Kong GSB. Dr. Ye received his Ph.D. in Finance from Tsinghua University. His research has been included in the Journal of Tsinghua University, Tsinghua Science and Technology and Journal of Financial Research.
Research Interests
Liquidity, Transaction Costs and Asymmetric Information
Selected Publications
1. "Best Execution and Value of Information", Journal of Tsinghua University, 2009.
2. "Some Possible Copulas between Wealth and Lifetime", Tsinghua Science and Technology, 2009.
3. "Institutional Investor, Informed Trading and Market Efficiency: Evidence from China’s Capital Market", with Hou, Yu, Journal of Financial Research, pp. 131-145, 2008.
4. "Portfolio Choice with Transaction Costs", Journal of Tsinghua University, pp. 1-11, 2007.
Cheung Kong Faculty in the Media
Cheung Kong faculty members are China experts as well as specialists in their academic fields. They are regular contributors and interviewees by popular business media in China and beyond, including Wall Street Journal, Financial Times, and Business Week.
Selected Media Citations in 2009
Cao Huining (Henry)
"Long Focused on U.S., Koreans Slowly Warm to China", Korea Times, August 24 2009
"Allianz, AmEx Sell Half of Stakes in China's ICBC ", Agence France-Presse, April 16 2009
"Market Gloom Lifts", China Daily, March 3 2009
Chiang Jeongwen
"China 2009: The Confidence Deficit", Business Week, January 4 2009
Dong-Sung Cho
"Long Focused on U.S., Koreans Slowly Warm to China", Korea Times, August 24 2009
Huang Ming
"ChiNext A Hit with Chinese Investors", Telegraph, November 4 2009
"Risky Investment Product Backfires on Wealthy", Forbes, September 14 2009
"$7.3 Billion China State Construction IPO Rocks Market", CBS News, July 30 2009
"Why China Works", Newsweek, January 16 2009
Liu Jing
"China to Have Bigger Say in IMF", China Daily, May 14 2009
"Shanghai Float Unlikely for Foreign Firms", China Daily, May 8 2009
"China's Tax Breaks May Raise Tensions with Partners", Business Daily, April 9 2009
Li Wei
"Rio Tinto Case Stirs Investor Anxiety ", Guardian, July 23 2009
"BRIC Nations to Address Dollar Alternatives", China Daily, June 16 2009
"Asia Looks to G20 Credit Pledge to Revive Trade", Associated Press, April 7 2009
"China Won’t Stop Buying", Business Insider, March 16 2009
"US and China, Dragging Down Each Other", USNews, March 13 2009
Mei Jianping
"Financial Crisis Hits Art Market", New York Times, June 17 2009
"Chinese Art is Down but Not Out ", Reuters, April 3 2009
"China Housing Market Shows Signs of Life", Wall Street Journal, April 3 2009
Ou Jihong
"China's Quality Control a Work in Progress", Globe and Mail, September 8 2009
Teng Bingsheng
"Danone to Exit Joint Venture with China's Wahaha", Wall Street Journal, October 9 2009
"E-Tail Versus Retail", Business Strategy, September 1 2009
"National Brands Instead of Winning Models", China Daily, April 9 2009
Wang Yijiang
"Economy May Be Vulnerable to Another Slowdown as Stimulus Effect Wears Off", Financial Times, August 25 2009
"Analysts Voice Concerns on Side Effects of China Stimulus Package", Financial Times, August 21 2009
"China Still Stockpiling Commodities", Globe and Mail, June 23 2009
"Economic Growth Slows Further in 1Q", Associated Press, April 16 2009
"In Beijing, Worker Awaits Economic Comeback", Canadian Broadcasting Corporation, March 6 2009
Xiang Bing
"Beijing-Tokyo Forum Focuses on Cross-Border Cooperation", China Daily, November 4 2009
"We Have Very Influential Alumni", Kommersant St. Petersburg, August 31 2009
"What China's Entrepreneurs Can Learn from Japan", Global Outlook, July 29 2009
"Cheung Kong Sponsors Talk on Maximizing Impact of CSR Programs", China Radio International, May 27 2009
"China’s New Breed of State CEOs", Straits Times, May 4 2009
"Taking on Global Business Schools", Financial Times, February 16 2009
Zeng Ming
"Adopting the Chinese Approach to Cost Innovation", Opinion, August 19 2009
Zhao Hao
"Hey, Big Spenders", Straits Times, May 4 2009
Zhou Chunsheng
"China Revs Up Dealmaking Machine", Business Week, July 17 2009
"Housing Market Rebound Gets Underway ", China Daily, June 17 2009
About Cheung Kong GSB
Founded in Beijing in November 2002 by one of Asia's most successful entrepreneur Mr. Li Ka-shing, Cheung Kong Graduate School of Business is the first private, non-profit, and independent business school in China, providing MBA, EMBA, and Executive Education Programs in Beijing, Shanghai and Guangzhou.
With its world-class faculty and firm commitment to research and knowledge generation, Cheung Kong GSB leads out on research concerning the dynamics of competing and collaborating among state-owned enterprises, private firms, and multinational corporations in China, the world's largest emerging market. Cheung Kong GSB leverages its world-class faculty and global perspective to generate unrivaled insights into how to integrate the China play into the global play from the perspective of both multinational companies and Chinese indigenous companies. As a result, the seamless integration of China and the world is now attainable.
Cheung Kong GSB strengths in teaching and research have enabled the school to attract elite business leaders from China and beyond, who now form the region's most influential alumni network. In addition, this proprietary knowledge forms the foundation for innovative programs such as the China CEO Program and the China Finance CEO Program. It is this intellectual leadership which enables Cheung Kong GSB to stand shoulder to shoulder with the world's top business schools.
Contact Us
Cheung Kong Graduate School of Business
Oriental Plaza, Tower E3, 3/F
1 East Chang An Avenue
Beijing, P. R. China
100738
Tel: +86 10 8518 8552
Fax: +86 10 8518 6800
contact@ckgsb.edu.cn
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发表于 2010-3-19 09:05:23
