Kalok CHAN Department Head Synergis-Geoffrey Yeh Professor of Finance and Director of Centre for Fund Management Email: kachan@ust.hk Ph.D. 1990 Ohio State University, Finance B.S. 1985 Chinese University of Hong Kong, Economics

• Hong Kong University of Science and Technology, Department of Finance, Visiting Associate Professor, 1995-97; Associate Professor, 1998 - June 2000; Professor, July 2000-present, Head, July 2003-present.
• National University of  Singapore, Visiting Professor, July-August, 2001-02.
• Arizona State University, Department of Finance, Assistant Professor, 1990-95; Associate Professor, 1995-97.
• City University of Hong Kong, Department of Economics & Finance, Visiting Fellow, June-August 1994.

PUBLICATIONS (at HKUST)

Articles

• "Do Home Bias Affect Firm Value? Evidence from Mutual Fund Investors Worldwide", with Vincentiu Covrig and Lilian Ng, Journal of International Economics, forthcoming
• "Information Asymmetry and Asset Prices: Evidence from the China Foreign Share Discount", with Albert J. Menkveld and Zhishu Yang, 2008, Journal of Finance 63(1), 159-196.
• "Are Domestic Investors Better Informed than Foreign Investors? Evidence from the Perfectly Segmented Market in China", with Albert J. Menkveld and Zhishu Yang, 2007, Journal of Financial Markets 10(4), 391-415.
• "Stock Price Synchronicity and Analyst Coverage in Emerging Markets", with Allaudeen Hameed, 2006, Journal of Financial Economics, Vol 80, 115-147.
• "Can Contrarian Strategies Improve Momentum Profits ", with Hung Wan Kot, Journal of Investment Management, Vol. 4, No. 1, First Quarter 2006 .
• ”Market Segmentation and Share Price Premium: Evidence from Chinese Stock Markets”, with Johnny K.H. Kwok, 2005, Journal of Emerging Market Finance, Vol. 4, No. 1, 43-61.
• "What Determines the Domestic Bias and Foreign Bias? Evidence from Mutual Fund Equity Allocations Worldwide”, with Vincentiu Covrig and Lilian Ng, 2005, Journal of Finance Vol 60, 1495-1534.
• “Free Float and Market Liquidity: Evidence from Hong Kong Government’s Intervention", with Yue-Cheong Chan and Wai-Ming Fong, 2004, Journal of Financial Research, Vol 27, 179-197. 
• "Under-pricing and Long-term Performance of IPOs in China", with K.C. John Wei and Junbo Wang, 2004, Journal of Corporate Finance, Vol 10, 409-430. 
• "Investability and Return Volatility in Emerging Equity Markets", with Kee-Hong Bae and Angela Ng, 2004, Journal of Financial Economics, Vol 71, 239-263.
• "What if Trading Location is Different from Business Location?" with Allaudeen Hameed and Sie-Ting Lau, 2003, Journal of Finance, Vol 58, 1221-1246.
• "The Informational Role of Stock and Option Volume," with Peter Chung and Wai-Ming Fong, 2002, Review of Financial Studies15,1049-1075.
• "Limit Orders, Depth, and Volatiltiy," with Hee-Joon Ahn and Kee-Hong Bae, Journal of Finance, 2001,Vol 56, 767-788.
• "Depository Receipts, Country Funds, and the Peso Crash: The Intraday Evidence", with Warren Bailey and Peter Chung, Journal of Finance, 2000, Vol 55, 2693-2717.
• "Trade Size, Order Imbalance, and the Volatility-Volume Relation," with Wai-Ming Fong, Journal of Financial Economics, 2000, Vol 57, 247-273.
• "Profitability of Momentum Strategies in the International Equity Markets", with Allaudeen Hameed and Wilson Tong, Journal of Financial and Quantitative Analysis, 2000, Vol 35.
• "Overnight Information and Intraday Trading Behavior: Evidence from NYSE Cross-Listed Stocks and their Local Market Information", with Mark Chockalingam and Wan Lai, Journal of Multinational Financial Management , 2000, Vol 10, 495-509. 
• "Bid-Ask Spread and Arbitrage Profitability: A Study of the Hong Kong Index Futures and Options Market", with Kee-Hong Bae and Yan-Leung Cheung, Journal of Futures Market , 1998, Vol 18, 743-763.
• "Market Efficiency and the Returns to Technical Analysis", with Hank Bessembinder, Financial Management, 1998, Vol 27, No 2, 5-17.

WORKING PAPERS

• "Stock Price Synchronicity and Liquidity", with Allaudeen Hameed and Wenjin Kang.
• "Short-sale Constraints and A-H Share Premiums", with Hung Wan Kot and Zhishu Yang

• Director, Center for Fund Management, 2003 - present.
• Associate Director, Center for Asian Financial Markets, 2001 - present.
• Member, University Senate, Sept 2002- present.
• Member, University Appointments and Substantiation Committee, 2001 - 2004
• Trustee, Staff Superannuation Scheme, HKUST, 2002-present.
• Director of PhD/MPhil Programme, School of Business and Management, 1996- 2001.
• Member, Committee of Postgraduate Studies, HKUST, 1996 - 2001.
• Member, Committee on Teaching and Learning Quality, HKUST, 1998 –2001.
• Member, School of Appointment and Substantiation Committee (SBM), 2000-01.
• Member, Advisory Committee on the Choice of the University’s MPF Service Provider, HKUST, 2000.
• Recruiting Committee Chair, Department of Finance, 1999 – 2000.

• Member, Risk Management Committee, Hong Kong Exchanges and Clearing Limited, 2005 - present.
• Member, Advisory Committee on Human Resource Development (Financial Services), HKSAR, 2004 - present.
• Member, Investor Education Advisory Committee, Hong Kong Securities and Futures Commission, 2004-present.
• Panel Member, Hong Kong Research Grants Council, 2004 - present.
• Member, Examination Board, Institute of Financial Planners of Hong Kong, 2003 - present
• External Reviewer, Licensing Examination for Securities and Futures Intermediaries, 2003.
• Advisor, Hong Kong Association of Investors, 2000-present.
• Member, Asia-Pacific Regional Committee, FTSE, 2001-present.
• Member, Working Group for the Development of Licensing Examinations, Hong Kong Securities Institute, 2002.

• 2003, Chartered Financial Analyst (CFA)