K C Chan, JP
Chair Professor (on leave)
kcchan@ust.hk

PhD, 1985, University of Chicago, Finance
MBA, 1981, University of Chicago
BA (with Honors), 1979, Wesleyan University, Economics

Editor, International Review of Finance
Associate Editor, Pacific Basin Finance Journal
Associate Editor, Financial Analysts Journal

"An Exploratory Investigation of the Firm Size Effect," with Nai-fu Chen and David Hsieh, Journal of Financial Economics 14 (3), (1985).

"Can Tax-Loss Selling Explain the January Seasonal in Stock Returns?" Journal of Finance 41(5), (1986).

"Risk and the Economy: A Finance Perspective," with René Stulz, in Financial Risk: Theory, Evidence and Implications, C.C. Stone, ed., Kluwer Academic Publishers, Norwell, M.A., (1988)

"On the Contrarian Investment Strategy," Journal of Business 61: 147-64, (1988).(Reprinted in Market Efficiency: Stock Market Behaviour in Theory and Practice, Andrew Lo, ed., Edward Elgar Publishers.)

"An Unconditional Test of Asset Pricing and the Role of Firm Size as an Instrumental Variable for Risk," with Nai-fu Chen, Journal of Finance 63: 309-325, (1988).

"Risk and Return from Real Estate: Evidence from Equity REITs," with Patric Hendershott and Anthony Sanders, AREUEA Journal , (Winter 1990), 431-452.

"Structural and Return Characteristics of Small and Large Firms," with Nai-fu Chen, Journal of Finance 46, (1991).

"Intraday Volatility in the Stock Index and Stock Index Futures Markets," with Kalok Chan and Andrew Karolyi, Review of Financial Studies 4: 657-684, (1991).

"The Volatility of the Japanese Stock Market: Evidence from 1977 to 1990," with G. Andrew Karolyi, in Japanese Financial Market Research , W. Ziemba, W. Bailey and Y. Hamao, (eds.,), North-Holland Publishers, (1991).

"The Volatility of Short-Term Interest Rates: An Empirical Comparison of Alternative Models of the Term Structure of Interest Rates," with G. Andrew Karolyi, Francis A. Longstaff and Anthony B. Sanders, Journal of Finance 68 (1992), 1209-1227.

"The Volatility of Japanese Interest Rates: A Comparison of Alternative Term Structure Models," with G. Andrew Karolyi, Francis A. Longstaff and Anthony B. Sanders, in Rhee and Chang (eds), Pacific Basin Financial Market Research , Vol. 3, (1992).

"Global Financial Markets and the Risk Premium on the U.S. Equity" with Andrew Karolyi and René Stulz, Journal of Financial Economics 32 (2) (1992), 137-168

"Economic Forces and Commodity Futures Prices: Further Evidence on Time-Varying Risk Premia," with Warren Bailey, Journal of Finance 48 (3) (1993).

"Market Structure and the Intraday Pattern of Bid-Ask Spreads for NASDAQ Securities," with William G. Christie and Paul H. Schultz, Journal of Business 68 (1) (1995), 35-60.

"Information, Trading and Stock Returns: Lessons from dually-listed securities", with Wai-Ming Fong and René Stulz, Journal of Banking and Finance, (1996).

"Does Money Explain Asset Returns? Theory and Empirical Analysis" with Silverio Foresi and Larry Lang, Journal of Finance 51(1), (1996).

"The Performance of Japanese Mutual Funds", Review of Financial Studies, (with Jun Cai and Takeshi Yamada), (1997) 10: 237-274

Invited to write an essay on "Contrarians" for The New Palgrave Dictionary of Money and Finance, Peter Newman, (eds), Macmillan, (1992).

A Contrarian Strategy for Growth Stock Investing (by Donald Peters), Journal of Finance (1994).

“The Impact of Tick Size on the Quality of a Pure Order-Driven Market: Evidence from the Stock Exchange of Hong Kong”, with Chuan Yang Hwang (2001)

University Level

1. Member, University Council 2001 -

2. Member, University Senate, 1994 -

3. Member, University Court 1997 - 2000

4. Member, University Budget Committee, 18 November 1997 to present

5. Member, Search Committee for Vice-President for Academic Affairs, 1998

6. Member, Search Committee for Associate President for Academic Affairs, 1995

7. Member, Universities Joint Salaries Committee and 'Administrative Contacts', 24 October 1997 - 30 June 2000

8. Member, Senate Research Committee, 1994 - 1997

9. Chairman, University Appointment and Substantiation Committee, 2000

10. Member, University Appointment and Substantiation Committee, 1994 - 1999

11. Member, Committee for Academic Program Enhancement, 1996

12. Member, Task Force on Quality of Research, 1995

13. Member, Review Panel on Existing Independent Units and Central Facilities, 1995

14. Panel Member, Institute of Environmental Studies, 1993

School Level

1. Member, School Research Committee, 1994 -

2. Academic Planning Report Working Group. 1997 -

Academic Associations

1. Co-President, Asian Finance Association, 2003 - Jan 2006

2. President, Asia Pacific Finance Association, 2001 - 2002

3. Vice-President, Asia Pacific Finance Association, 1998 - 2000

4. Academic Program Chair, Asia Pacific Finance Association's 2nd Conference, Hong Kong, 1995

5. Member of Nominating Committee, American Finance Association 2000

Community

1. Member, School Research Committee, 1994 -

2. Academic Planning Report Working Group. 1997 -

3. Member, Economic and Employment Council, 2004 - 2005

4. Part-time Member, Central Policy Unit, 2001 - 2003

5. Member, Hang Seng Index Advisory Committee, 2004 -

6. Member, Exchange Fund Advisory Committee, HK Monetary Authority, 2004 -

7. Member, Hong Kong Council for Academic Accreditation, 2001 - 2006

8. Chairman, Consumer Council, 2005 -

9. Council member, Consumer Council, 2003 - 2004

10. Member, Audit Committee, Consumer Council, 2005 -

11. Member, Securities and Futures Appeals Tribunal, 2003 - 2005

12. Member, Civil Service Training and Development Advisory Board, 2003 - 2005

13. Member, Economic Relaunch Strategy Group, 2003

14. Member, Advisory Committee on Human Resources Development in the Financial Services Sector, 2001 - 2004

15. Member, Vetting Committee for the Professional Services Development Assistance Scheme, 2002 -

16. Member, Committee on Unit Trust, Securities and Futures Commission, 2000 - 2006

17. Member, Committee on Investment-Linked Assurance and Pooled Retirement Funds, Securities and Futures Commission, 2002 - 2006

18. Director of the Board, Hong Kong Securities Institute, 2002 - 2005

19. Director, Hong Kong Futures Exchange Ltd, 1998 - 2000