Areas of Excellence
Theme-based
General Research Fund
Early Career Scheme
Others
University Grant Committee – Areas of Excellence Scheme 2022/23 (Tenth Round)
| Project Title: | Quantitative History of China: Historical Roots of Recent Success and Future Development |
| Funding Amount: | HK$67.32 million |
Research Team Members from HKU Business School:
| Project Coordinator | CHEN | Zhiwu | Chair of Finance Cheng Yu-Tung Professor of Finance |
| Co-Principal Investigator | LIN | Chen | Chair of Finance Stelux Professor in Finance Associate Dean (Research and Knowledge Exchange) |
| Co-Principal Investigator | MA | Chicheng | Assistant Professor in Economics |
| Collaborator (Local) | SINCLAIR | Andrew | Assistant Professor in Finance |
Abstract
China’s recent economic success and its development trajectory are among the most discussed stories of our time. To understand what drove these achievements, scholars have looked back at China’s historical roots. Before the computer age, however, no scholar could handle hundreds of thousands, let alone millions, of historical documents/cases/observations. As a result, historians traditionally had to rely on selective case studies to construct qualitative narratives that are often important and insightful but difficult for systematic testing. Now, with numerous archives being digitised in China and beyond, scholars have no choice but to work with historical ‘big data’, and the only feasible way to conduct big data-based historical inquiries is with quantitative methods.
Uniquely among nations, China has a wealth of historical and archaeological archives covering almost all aspects of society, from politics to business, law and regulation, crime and unrest, family and lineage, culture and customs, religion and social organisation and science. Many of these records have been recently digitised, offering quantitative historians an unprecedented opportunity to re-examine various aspects of China’s past, which is extremely important to assess its future and guide policymaking in Hong Kong.
We propose to establish a new Centre for Quantitative History (CQH) at the University of Hong Kong (HKU) to serve as a focal institution for coordinating and conducting research on the ‘Quantitative History of China’. The CQH will make Hong Kong a global leader in quantitative history research for three reasons. First, Hong Kong is part of China and has a linguistic/cultural/human resources advantage. Second, Hong Kong enjoys more academic freedom than mainland universities. Third, and of equal importance, is that our research team, including the PC, Co-PIs and their collaborators, has published widely on the quantitative history of China and constructed key historical databases in recent years. In 2013, the PC, together with the Co-PIs, started an annual 9-day summer school and international symposium for quantitative history to promote the proposed research approach to approximately 200 young and middle-aged scholars from more than 40 universities each year. These on-going efforts have yielded positive results in greater China and had a significant influence in Hong Kong. This project will significantly advance knowledge on the mainland’s and Hong Kong’s historical development, enhance teaching and learning, aid policymaking and improve business practices.
University Grant Committee – Areas of Excellence Scheme 1999/2000 (First Round)
Project Title: Hong Kong Institute of Economics and Business Strategy
Funding Amount: HK$36.2 million
Project Coordinator: Professor Richard Wong
Abstract
HIEBS aims to become the leading international center for the study of economic policy and business strategy focusing on the dynamic role of Hong Kong in China and the Asia Pacific Region, as well as in the world. It also conducts independent and pioneering research studies, to advance the frontiers of both theoretical and applied knowledge in this area, to develop and deliver innovative educational programs to train researchers and practitioners for Hong Kong, Mainland China and the Asia-Pacific region, and to have an impact on the formulation of policy choices and business strategies. This new adventure is co-ordinated by The University of Hong Kong and benefits from cooperation with other local and overseas institutions.
University Grant Committee - Theme-based Research Scheme 2020/21 (Tenth Round)
Theme 3: Enhancing Hong Kong's Strategic Position as a Regional and International Business Centre
Project Title: Financial Technology, Stability, and Inclusion
Project Coordinator: Prof Chen Lin (HKU)
| Project Coordinator (PC) | LIN | Chen | Chair of Finance Stelux Professor in Finance Associate Dean | FBE / HKU |
| Co-Principal Investigator (Co-PI) | LUO | Ye | Assistant Professor in Finance | FBE / HKU |
| Co-Principal Investigator (Co-PI) | TANG | Dragon Yongjun | Professor in Finance & Area Head | FBE / HKU |
| Co-Investigator (Co-I) | KWAN | Alan Paul | Assistant Professor in Finance | FBE / HKU |
| Co-Investigator (Co-I) | LIU | Yang | Assistant Professor in Economics | FBE / HKU |
| Co-Investigator (Co-I) | TAI | Mingzhu | Assistant Professor in Finance | FBE / HKU |
FinTech has witnessed a spectacular growth in the aftermath of the 2008 financial crisis. While the industry has taken innovative approaches to promote financial inclusion by serving traditionally under-banked businesses and people, it is also exposed to nonnegligible risk that can threaten the stability of financial market. Hence, a key challenge facing the industry is to assess and manage financial risks properly while extending financial services to a wider spectrum of firms (especially small and medium enterprises SMEs) and consumers. Since SMEs and consumers possess little "hard information" (e.g., financial statements, collaterals, credit history), it makes it a grand challenge – how to evaluate and finance them adequately. This is particularly the case as SMEs and consumers play a crucial role in economic development. According to the State Council of China and HKTID, SMEs contribute to more than 80% (46%) of employment and 90% (98%) of business units in mainland China (Hong Kong). Household consumption is also a key driver of economic growth, accounting for 60% of GDP (World Bank, 2018). Therefore, it is imperative to search for the solutions. In this research, we aim to develop a scientific framework on credit risk assessment and management for small businesses and consumers, lay out a formal foundation for smart contract / mechanism design, provide a platform for conducting program evaluation on the real economic and social impact of FinTech, form and test macro theories/models of financial risk featured with FinTech development, and provide policy recommendations for financial stability and inclusion. The framework is featured with a comprehensive guidance on (a) "high-frequency, high-dimensions, high-coverage" data collection, such as capturing granular digital footprints and networks of firms and consumers, (b) feature extraction based on behavioral consistency theories (Cronqvist et al., 2012), such as extracting behavioral traits (e.g., risk attitude, self-efficacy) of small business owners and consumers from investment, consumption and their behaviors through social networks and ownership chains, (c) transformation of such "soft information" into "hard information", (d) design, selection and training of credit models that (i) exploit the predictive power of digital footprints, networks and behavioral traits versus traditional financial metrics, and (ii) dynamically adapt to business cycles, and (e) interpretation and application of model outcomes for financial institutions and policy makers. To achieve these objectives, we will convene a team of experts in finance, economics, law, data science and engineering, collaborate with top financial institutions (e.g., the largest FinTech company), and form an advisory board of world leading economists (e.g., Nobel Laureates) and important policy makers (e.g., IMF Deputy MD overseeing FinTech). The extensive network of the team with global and regional institutions (e.g., IMF, World Bank, BIS, ECB, FSB, Fed, PBC, HKMA, HKFSDC, HK Competition Commission, etc.) will help disseminate the research outputs. The deliverables will help Hong Kong transit from a traditional International Financial Centre to a FinTech hub.
GRF 2021-22
| Principal Investigator | Area | Project Title | Amount Awarded (HK$) |
| Professor K.W. Hui | Accounting and Law | Employee Litigation and Financial Reporting | 291,993 |
| Professor X. Wang | Accounting and Law | Information Diffusion in Broker Networks around Share Pledges | 400,985 |
| Dr. Chen Heng | Economics | Cronies in the Courtroom: Judicial Bias, Interference and Corruption | 935,673 |
| Dr. H. Zhang | Economics | Demand Uncertainty, Inventory Stock, and the Impact of Road Infrastructure on Firm Markup | 387,993 |
| Dr. L. Zhang | Economics | Labor Market Liberalization, Human Capital Investment, and Inequality | 399,993 |
| Dr. Y. Luo | Economics Finance | Inference of linear programming of high dimensionality | 487,753 |
| Dr. C. Sun | Economics Management and Strategy | Communication Costs and International Trade | 418,975 |
| Dr. Y. Wu | Economics Management and Strategy | Social Media, Accountability, and Public Health in China | 670,993 |
| Professor J. Li | Economics Management and Strategy | Subjective Contracting with Revisions | 544,093 |
| Dr. A.J. Sinclair | Finance | Optimal Government Funding for Innovation | 380,985 |
| Dr. D. Jin | Finance | Equilibrium Effect of Swing Pricing on Liquidity Management of Open-End Funds | 349,993 |
| Dr. Y. Liu | Finance | Currency Home Bias and Currency Choice in the International Credit Market | 711,993 |
| Professor H. Zou | Finance | Is there a stigma effect of publicly disclosed consumer complaints? The case of insurance | 504,545 |
| Dr. Chen Hailiang | Innovation and Information Management | The Impact of Platform Commission on Mobile Ecosystem Dynamics: Analysis of a Natural Experiment | 953,993 |
| Dr. L. Wang | Innovation and Information Management | Supply Chain Planning and Hedging: Managing Correlated Supply and Demand Risks | 679,667 |
| Dr. M.C.L. Chau | Innovation and Information Management | The Invisible Hand in Crowdfunding | 535,993 |
| Dr. X. Hu | Innovation and Information Management | An Analytical Framework for On-Demand Carpooling: Pricing, Matching, and Capacity Allocation | 655,993 |
| Dr. X. Zhang | Innovation and Information Management | High-dimensional Simulation Metamodeling: Theory and Applications | 1,139,146 |
| Professor Z. Jiang | Innovation and Information Management | Nudging for Healthy Behavior through Mobile Touch Experience Design | 610,993 |
| Dr. H. Zhao | Management and Strategy | The effects of performance pay complexity on job performance: A signaling theory perspective | 465,993 |
| Dr. H.M. Jia | Marketing | Fostering an Interdependent Self-Construal to Reduce Food Waste: A Resource Re-Allocation Perspective | 593,993 |
| Dr. J. Du | Marketing | Impact of Consumer Review Bias on Quality Inference and Review System Design | 343,193 |
GRF 2020-21
| Principal Investigator | Area | Project Title | Amount Awarded (HK$) |
| Dr. D.K.W. Chan | Accounting and Law | Board’s Dual Role of Advising and Monitoring CEOs and CEO Retention Decisions | 284,587 |
| Dr. S. Luo | Accounting and Law | CEO Political Ideologies and CSR Contracting in Compensation Design | 413,475 |
| Dr. N. Rahman | Accounting and Law | Market reaction to earnings news of strategic alliance partners: The good, the bad, and the contagion | 438,571 |
| Professor G. Zhang | Accounting and Law | Characteristics of business operations, investment flexibility, and value generation | 383,515 |
| Dr. S. Park | Economics | Opening the Black Box of North Korea's Economy: Deep Learning with Daytime Satellite Imagery | 401,000 |
| Professor W.C. Suen | Economics | Private tutoring as a signal-jamming activity | 271,994 |
| Dr. P. Xu | Economics | Selectivity in Auctions with Costly Entry: Estimation, Inference, and Counterfactuals | 413,450 |
| Dr. Y. Xu | Economics | Reneging at a cost: the optimal selling mechanism and regulation | 267,336 |
| Dr. P. Yu | Economics | Calibrating the Confidence Intervals in Threshold Regression | 320,000 |
| Dr. C. Zhao | Economics | Prior Bias, Mistrust, and Garbling: An Experiment | 550,950 |
| Dr. X. Fang | Finance | Emerging Market Spreads and Risk Premium: The Risk-free Rate Channel | 306,032 |
| Dr. S. Huang | Finance | Deciphering Dynamic Liquidity Management with Derivatives in Mutual Funds | 386,800 |
| Dr. T.A. Maurer | Finance | Pricing Implications of Inter-Cohort Heterogeneity in FX Markets | 548,000 |
| Dr. M. Tai | Finance | From the owner to the business: how do small business owners’ personal financial wellbeing affect their businesses? | 683,614 |
| Dr. J. Zhang | Finance | Housing Policy and Access to Finance for Small Business | 280,000 |
| Dr. H. Chen | Innovation and Information Management | A Social Proximity Measure based on Knowledge Graph Embedding | 763,000 |
| Dr. E. Park | Innovation and Information Management | Impact of emergency department waiting time announcements on patient behavior | 592,000 |
| Dr. D. Yang | Innovation and Information Management | Statistical Learning of Big Data with Dynamic Tensor Structure | 599,861 |
| Dr. X. Zhang | Innovation and Information Management | Ranking and Selection with Covariates: Simulation for Contextual Decision-Making | 873,995 |
| Professor C. Hui | Management and Strategy | Ideal or not so ideal? A Career Resourcing Approach to Effects of Idiosyncratic-deals on Employee Career Success | 377,984 |
| Professor J. Li | Management and Strategy | The management of incentives for waiting | 361,999 |
| Dr. C. Sun | Management and Strategy | Input Sourcing and Output Market Power | 540,425 |
| Professor Z. Tao | Management and Strategy | Choice of hospital by patients in China | 528,360 |
| Dr. Z. Yan | Management and Strategy | Antecedents of Corporate Political Strategies: A Political Network Perspective | 725,710 |
| Professor K.Z. Zhou | Management and Strategy | Capability Asymmetry and Innovation Performance in Buyer-Supplier Product Co-Development: A Dyadic and Dynamic View | 580,000 |
| Dr. H.M. Jia | Marketing | How Animated Movement Speed in Video Ads Shapes Consumer Responses: An Affective Reaction Perspective | 530,196 |
GRF 2019-20
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Professor H. Cai | Economics | Intrinsic Motivations, Incentives and Corporate Culture | 515,400 |
| Dr. H. Chen | Innovation and Information Management | The Relationship Among Digital Download, Digital Rental and Subscription-based Streaming | 505,079 |
| Dr. T.T. Gu | Accounting and Law | Do Retail Investors Affect Corporate Disclosure Policies? Evidence from the 2013 Tax Policy Change in the Alternative Investment Market | 304,618 |
| Dr. S. Huang | Finance | Guaranteed-Loan Networks | 383,133 |
| Dr. T.W. Kim | Accounting and Law | Labor Market for Accounting Experts and Investment Efficiency | 240,000 |
| Professor K.S.J. Kung | Economics | The Rise of Communism in China | 988,834 |
| Professor S.H. Lau | Economics | Public annuities: Understanding annuity buyers’ decision and proposing welfare-improving solutions | 404,431 |
| Professor J. Li | Management and Strategy | Designing Power Structure | 536,480 |
| Dr. J. Li | Accounting and Law | Accounting information quality and risk shifting with asymmetrically informed creditors | 206,722 |
| Professor C. Lin | Finance | Credit Supply and Healthcare Service Quality | 563,518 |
| Dr. T. Liu | Finance | Implementing Auction Designs via Market Feedback | 320,000 |
| Dr. Y. Luo | Economics | Ambiguous Consumption and Portfolio Decisions with Labor Income and Stochastic Differential Utility | 329,961 |
| Dr. K. Na | Accounting and Law | Political Ideology and Corporate Tax Avoidance | 490,966 |
| Dr. P. Yu | Economics | Panel Threshold Regression with Unobserved Individual-Specific Threshold Effects | 450,000 |
| Dr. Y. Zheng | Management and Strategy | Do Political Connections Stifle Firm Innovation? Quasi-experimental Evidence from China’s Anti-corruption Campaigns | 339,900 |
| Professor K.Z. Zhou | Management and Strategy | Is Bribery Beneficial to Firm Performance in China? The Overlooked Side Effect on Market Capabilities | 526,745 |
GRF 2018-19
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. L.H.L. Chan | Accounting and Law | The effect of career opportunities after retirement and auditor's behavior | 208,800 |
| Dr. M.C.L. Chau | Innovation and Information Management | Factors Moderating the Predictive Power of Social Media Sentiment on Stock Returns | 382,410 |
| Dr. C. Chen | Economics | Optimal Forecasting under Informational Frictions: Theory and Evidence | 414,000 |
| Dr. H. Chen | Economics | Leaders and Social Changes | 164,925 |
| Dr. L. Gu | Finance | Inflexibility and Capital Structure Decisions | 283,492 |
| Dr. P.P. Karhade | Innovation and Information Management | Search for Innovation: Integrating the Behavioral Theory of the Firm with Agency-Theoretic Explanations | 717,470 |
| Dr. A. Kathuria | Innovation and Information Management | Information Signals in Microsourcing Platforms | 170,697 |
| Professor C. Lin | Finance | Credit Supply and Labor Policies | 450,000 |
| Dr. T. Liu | Finance | Guiding Target Shareholders | 301,492 |
| Dr. Y. Liu | Finance | Commodity, Asset Returns, and Inflation | 482,400 |
| Dr. C. Ma | Economics | Knowledge Diffusion and Scientific Production in Historical China, 1550-1800 | 324,333 |
| Dr. K. Na | Accounting and Law | Turnover Risk and CEO Compensation: Evidence From a Natural Experiment | 244,800 |
| Dr. S. Shim | Management and Strategy | Consequences of Nonverbal Cues During Computer-Mediated Communications: The Impact of a Leader's Emoticons on Employees' Creativity at Work | 271,062 |
| Professor W.E. Wan | Marketing | The Impact of Access-Based, Liquid Consumption in the Sharing Economy on Consumer Moral Behavior | 470,511 |
| Dr. X. Wang | Accounting and Law | Firm's Cost Structure and IPO Price Formation | 330,099 |
| Dr. Z. Wang | Finance | Toxic Emissions and Inventor Migration | 445,489 |
| Dr. H. Zhang | Economics | Capital Goods, Intermediate Goods and Gains from International Sourcing: Evidence from Chinese Manufacturing Firms | 485,207 |
GRF 2017-18
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. D.K.W. Chan | Accounting | Critical Audit Matter Disclosure | 314,596 |
| Professor E.C. Chang | Finance | The Effect of Stock Market Indexing on the Quality of Options Market | 442,027 |
| Dr. S. Huang | Finance | Dividend Catering and Learning from Stock Prices | 241,127 |
| Professor K.W. Hui | Accounting | Accounting Quality and Supply Chain Mergers and Acquisitions | 263,826 |
| Professor S.H. Lau | Economics | Effects of mortality decline on life-cycle variables: A state-dependent approach | 221,613 |
| Dr. D. Li | Finance | Supply Chain, News and Post-earnings Announcement Drift | 346,060 |
| Dr. J. Li | Accounting | A Framework of Network Analysis Based on Quadruple Book-entry Accounting System | 318,482 |
| Dr. X. Li | Accounting | Does Increased Mandatory Risk Disclosure Lead to Investor Perceptions of Higher Risk? Evidence from Cross-listed Firms in China and Hong Kong | 328,458 |
| Professor C. Lin | Finance | Do Managerial Incentives Matter? Evidence from SOE Pay-Cap Reforms in China | 473,885 |
| Dr. T. Liu | Finance | Optimal Securities Auctions with Entry Costs | 179,202 |
| Dr. Y. Luo | Economics | Parameter Uncertainty and Consumption Volatility in General Equilibrium | 189,158 |
| Dr. T.W.H. Ng | Management | Two Sides of the Same Coin: Disentangling the Contrary Effects of Perspective Taking on Employee Creativity | 368,360 |
| Professor L.D. Qiu | Economics | Intellectual Property Rights, Innovator Migration and Technology Diffusion | 402,281 |
| Professor Z. Tao | Strategy | Hospital heterogeneity, quality certification, and impacts of competition | 320,569 |
| Professor D.K.C. Tse | Marketing | MNCs as Good Parents: Strategy Tenets and Nurturing Mechanisms | 435,163 |
| Dr. J. Wang | Innovation and Information Management | The Impact of the Bundled Payment Policy Scheme on Operational Performance in Health Care | 522,654 |
| Dr. P. Yu | Economics | Testing Unconditional Rank Preservation and Conditional Rank Similarity in Quantile Treatment Effects Evaluation | 139,379 |
GRF 2016-17
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. C.M.K. Chan | Strategy | A Dynamic Institution-based View of Foreign Firm Performance | 453,750 |
| Dr. M.C.L. Chau | Innovation and Information Management | The Impact of Average Rating and Information Disparity on Consumer Perception of Review Diagnosticity | 518,500 |
| Dr. C. Chen | Economics | Uncertainty, Trade and FDI: Short-Run and Long-Run Impact of China-Japan Island Disputes | 330,000 |
| Dr. S.Y.W. Chiu | Economics | Demography and Political Economy of Large-Scale Economic Reform | 299,000 |
| Dr. T.T. Gu | Accounting | The Impact of the Credit Default Market on Auditors: Evidence from Audit Pricing and Going Concern Reporting | 242,700 |
| Dr. S.J. Jia | Marketing | Hedonic combinatorics: How combining unrelated products affects product enjoyment | 969,240 |
| Dr. H.H. Kwok | Economics | Estimation Methods for Social Interaction Models with Unknown Networks | 196,000 |
| Dr. H. Lee | Innovation and Information Management | Mitigating the Impacts of Natural Disasters on Firms and Supply Chains | 715,992 |
| Dr. T.W.H. Ng | Management | You Speak, I Speak: The Dynamic Contagion Effects of Coworker Voice on Employee Voice | 510,550 |
| Dr. B. Qin | Economics | The effect of anti-corruption campaigns on the value of political connections: evidence from Chinese listed companies | 240,000 |
| Professor W.C. Suen | Economics | Competing for Limited Attention in Large Media Markets | 282,000 |
| Dr. Y. Tang | Finance | Do Credit Default Swaps Reduce the Information Advantage of Corporate Insiders? | 450,550 |
| Professor Z. Tao | Strategy | Getting back a level playing field: evidence from China's private enterprises | 297,000 |
| Dr. S.H. Wang | Marketing | Evoking Novelty-Seeking Adoption of User-Innovations: Effects of Differential Sequencing of Category Positioning Strategies between Domain and Non-Domain Adopters | 394,900 |
| Dr. X. Wang | Accounting | CEO's Subsidiary Position and Firm's Tax Avoidance | 285,000 |
| Dr. P. Xu | Economics | Information transmission and efficiencies in foreclosure sales | 352,500 |
| Dr. Y. Xu | Finance | Displacement risk and value premium: a global analysis | 639,580 |
| Dr. Y. Xu | Economics | Interdealer Trades in Over-the-Counter (OTC) Markets - Who Buys and Who Sells? | 227,750 |
| Dr. P. Yu | Economics | Inferences and Specification Testing in Threshold Regression with Endogeneity | 330,000 |
| Dr. W. Zhang | Innovation and Information Management | Technology Adoption in Firm Networks | 618,000 |
| Dr. Y. Zhang | Management | Early dysfunctional parental influence in leadership development: An adult attachment perspective | 387,000 |
| Professor K.Z. Zhou | Strategy | Ambidexterity of International Joint Ventures in China: Institutional Drivers and Performance Implications | 330,000 |
| Dr. H. Zou | Finance | Director liability, talent attraction and retention: Evidence from a natural experiment | 661,050 |
GRF 2015-16
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. P. Hsu | Finance | Technology replacement and stock returns | 360,870 |
| Dr. S.C.S. Lai | Finance | Do Innovation-Focused Shareholders Spur Corporate Innovation? | 251,420 |
| Professor C. Lin | Finance | Does Corporate Governance Affect Debtholder Value? Evidence from Shareholder Voting | 762,800 |
| Dr. Y. Luo | Economics | Robustness, Intertemporal Hedging Demands, and Precautionary Savings in a Partially Observable Economy | 165,000 |
| Dr. H. Zhang | Economics | Export Destination, Product Quality, and Margins of Chinese Products in the International Markets | 339,000 |
| Dr. S. Zhang | Finance | In search of systematic distress risk | 319,151 |
| Dr. M.K. Ahn | Accounting | The Use of Direct Method Cash Flow Presentation and the Cost of Capital | 240,830 |
| Dr. M.C.L. Chau | Innovation and Information Management | The Effects of Traditional Media and Social Media on Penny Stocks and Non-penny Stocks | 621,500 |
| Dr. S. Kim | Marketing | Understanding the Motivation to Help under Mortality Salience | 369,000 |
| Dr. X. Li | Accounting | Monitoring Role of the Press – Evidence from Press Coverage of Chinese Firms Listed in the U.S. | 295,000 |
| Dr. T.W.H. Ng | Management | Discrete Employee Emotions and Voice Behavior: A Longitudinal Investigation of the Reciprocal Relationships | 366,000 |
| Professor C.W. Park | Accounting | CEO Turnover, Incentives and Firm Life Cycle | 326,480 |
| Dr. E.W. Wan | Marketing | The Influence of Customer Density on Consumer Experience with Anthropomorphized Self-Serving Technologies | 412,751 |
| Dr. J. Wang | Innovation and Information Management | Optimizing Reliability and Extended Warranty Pricing Decisions in a Supply Chain | 299,996 |
GRF 2014-15
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. H. Chen | Economics | Political Economy of Middle Class Activism | 281,285 |
| Dr. X. Hu | Finance | Tri-party Repo Pricing | 512,800 |
| Dr. T.C. Lin | Finance | How hedging and speculation demands in equity lending market are related to put option trading? | 232,232 |
| Dr. B. Qin | Economics | How does political control of the Chinese media affect politician promotion and the fight against corruption? | 194,880 |
| Professor L.D. Qiu | Economics | FDI spillovers through Joint Ventures: Evidence from China | 390,000 |
| Dr. Y. Xu | Finance | Corporate R&D and the cross section of stock returns: International evidence | 426,289 |
| Dr. H. Zhang | Economics | Estimating Firm-Level R&D Demand and Innovation Process with Technology Spillover | 317,289 |
| Professor G.C. Biddle | Accounting | Board Selection Endogeneity: Evidence from Hong Kong | 440,916 |
| Dr. C.M.K. Chan | Strategy | Foreign Market Entry Mode Choice in Subnational Regions: An Institution- based view | 480,919 |
| Dr. D.K.W. Chan | Accounting | The Effects of Internal Control Reporting Regulation on Control Quality, Compensation and Audit Quality | 208,684 |
| Dr. L.H.L. Chan | Accounting | Economic consequences of collateralized personal loan by executives | 301,252 |
| Dr. M.C.L. Chau | Innovation and Information Management | Studying the Order Effect of Feedbacks in Online Auction Markets: A User Study and a Bayesian Updating Model | 312,539 |
| Dr. F. Du | Accounting | Analyst teamwork: Team composition and forecast performance | 324,394 |
| Dr. T.W.H. Ng | Management | Transformational and Transactional Leadership, Idiosyncratic Employment Arrangements, and Emotional and Behavioral Outcomes | 202,304 |
| Dr. G.H.R. Sin | Innovation and Information Management | Social and Economic Implications of Search Engine Optimization | 383,264 |
| Professor Z. Tao | Strategy | Do Chinese imports influence American politics? | 387,289 |
| Dr. F. Tian | Accounting | Do Accounting standards affect innovation? | 329,266 |
| Professor B.C.K. Yim | Marketing | Service-Sales Ambidexterity: A Dyadic Analysis on the Underlying Processes of Its Influences on Satisfaction and Performance Outcomes for Both Employees and Customers | 373,114 |
| Dr. B. Zhao | Strategy | Trailing Connected Government Officials in Geographic Expansion: Evidence from Chinese Firms | 374,072 |
| Professor K.Z. Zhou | Strategy | Customer Participation, Product Newness, and New Product Performance: A Conflict Management Perspective | 580,762 |
| Dr. J. Zhu | Marketing | Tap Into Product Cocreation Model-Crowd, Idea, Product Development, and Market Performance In Crowdsourcing | 312,425 |
GRF 2013-14
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. F. Du | Accounting | Seeing is Believing: Do Analysts Benefit from Site Visits? | 239,570 |
| Dr. J. Han | Accounting | Management Earnings Guidance Quantification and Attribution Quantification: An Interactive Pattern | 271,427 |
| Professor C. Hui | Management | Towards a threat-reaction theory of supervisor reactions to subordinate voice | 394,500 |
| Professor S.S.K. Lam | Management | Organizational Citizenship Behavior: A Multilevel and Cross Cultural Study | 295,000 |
| Dr. H. Lee | Operations Management | The Drivers and Impacts of Knowledge Exchange within a Supply Chain: An Empirical Study | 828,000 |
| Dr. X. Li | Accounting | Revealed Investor Sentiment: Textual Analysis of Earnings Conference Calls | 208,247 |
| Professor C.W. Park | Accounting | A Structural Approach To Estimating Abnormal Working Capital Accruals | 266,655 |
| Professor D.K.C. Tse | International Business | How Capitalism Works in China State-Owned Enterprises: An Agency Assessment of their Corporate, Social and Societal Performance | 350,000 |
| Dr. E.W. Wan | Marketing | Does Seeing Human in Brands Enhance Brand Preference For Socially Disconnected Consumers? Anthropomorphism, Social Exclusion, and Brand Relationship | 374,980 |
| Dr. X. Wang | Differential Insider Trading Profitability and the Efficiency of Diversification in Multi-Segment Firms | 480,000 | |
| Dr. C. Wu | Management | A Signaling Perspective on Strategic Investments: Evidence from IPO Firms | 210,068 |
| Dr. Y.S. Wu | Accounting | Incentive Compensation for Multidimensional Tasks: A Field Experiment | 233,000 |
| Dr. Y. Zheng | Management | Time to leave? The influence of resource dependence structures on sequential investment termination by venture capital firms | 583,020 |
| Dr. K.Z. Zhou | Management | Exchange Hazards, Contractual Design, and Exchange Performance: A Study of Buyer-Supplier Relationships in China | 496,600 |
| Professor Y. Zhou | Operations Management | Models and Analysis of Dual-Channel Supply Chain Strategies | 392,000 |
| Dr. W. Chan | Economics | The Impact of Housing Status on Labor Market Outcomes | 325,057 |
| Dr. P. Hsu | Finance | The Determinants of Innovation Efficiency and Influence | 180,587 |
| Dr. K. Jiang | Economics | Optimal Promotion Rules in a Firm's Internal Labor Market | 174,864 |
| Dr. T.C. Lin | Finance | Does Short Selling Discipline Managerial Value-Destroying Behaviors? | 340,660 |
| Dr. Y. Luo | Economics | Model Uncertainty and Emerging Market Business Cycles | 154,000 |
| Dr. W.Y. Park | Economics | An empirical investigation on the dynamics of credit spreads and their implications in the euro area | 139,891 |
| Dr. C. Xia | Finance | Can the Feedback Effect Explain Momentum Trading and Returns? | 50,000 |
GRF 2012-13
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. M. Buehlmaier | Finance | Media-Based Merger Arbitrage | 297,301 |
| Dr. C.M.K. Chan | International Business | Subnational institutions and foreign affiliate performance | 505,050 |
| Dr. M.C.L. Chau | Information System Management | Applying Blog Mining Techniques in Suicide Research and Prevention | 360,815 |
| Dr. H. Chen | Economics | A Theory of Rumors and Revolution | 235,690 |
| Dr. X. Gao | Finance | Risk and Corporate Activities | 161,980 |
| Professor S.H. Lau | Economics | Differential Incentives, Group Size, and Cooperation in the Intergroup Prisoner's Dilemma: An Experimental Investigation | 589,098 |
| Dr. H. Lee | Operations Management | The effect of competition on firms' sustainable policies | 600,600 |
| Dr. D. Li | Business Studies | Who causes idiosyncratic stock price volatility? | 363,891 |
| Dr. T.C. Lin | Finance | What Do Informed Options Traders Know? | 263,827 |
| Dr. X. Liu | Accounting | The effects of CEOs' and CFOs' equity-based compensation on the remediation of internal control material weaknesses (ICMWs) | 180,180 |
| Dr. C. Qiu | Marketing | Future Consumption Opportunity and the Generation of Mental Imagery: A New Perspective on the Impact of Mental Construal on Consumer Judgments | 330,603 |
| Professor L.D. Qiu | Economics | Formation and Dynamics of Free Trade Agreements: Theory and Empirics | 243,880 |
| Professor Z. Tao | Economics | Once an Enemy, Forever an Enemy? The Long-run Impact of Japanese Occupation of China on Trade and Investment | 198,380 |
| Dr. F. Tian | Accounting | The valuation impact of managers' performance explanations in earnings press releases | 404,477 |
| Dr. X. Wang | Accounting | How Is Equity Value Affected by the Information Risk Associated with Accounting Earnings? Evidence from Closed-end Fund Discounts. | 396,760 |
| Dr. F. Yang | Finance | Oil Shocks and Asset Prices | 273,874 |
GRF 2011-12
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr Stephen Chiu | Economics | Preferential Treatment in Centralized Admissions: The Case of Motive Schools | 220,000 |
| Dr Yulei Luo | Economics | Risk-sensitive Control and Filtering, Production Fluctuations, and Inventory Behavior | 134,159 |
| Prof Wing Suen | Economics | Strategic Deliberation and Super-majority Rules | 216,000 |
| Prof Chenggang Xu | Economics | Chinese Local Governments, Industrial Clusters, and Regional Disparities | 804,178 |
| Dr Frances Xu | Economics | Defense Attorney's Fee Structure: A Signaling Explanation | 197,000 |
| Dr Matthias Buehlmaier | Finance | A Narrative Approach to Measuring Financial Constraints | 413,880 |
| Dr Xianming Zhou | Finance | The Efficiency of Internal Capital Markets around Financial Crises | 338,059 |
| Dr Mei Lin | Information System Management | Open License in Platform Business Model Competition | 278,000 |
| Dr Echo Wan | Marketing | The Risk-Taking of Excluded Consumers: Social Exclusion and Financial Decision | 352,434 |
| Dr Kevin Zhou | Marketing | The Development and Contingent Value of Marketing and Technology Capabilities in China: A Longitudinal and Multilevel Study | 344,554 |
| Dr Heng Chen | Others - relating to Social Sciences (Economics) | Housing Finance and Household Saving Rate in the U.S. and China | 129,749 |
GRF 2010-11
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr Lilian Chan | Accounting | Insider trading and family firms | 312,650 |
| Dr Xiaohui Gao | Business Studies | Investor Sentiment and Idiosyncratic Risk: Implications on Expected Market Returns | 162,800 |
| Dr Wen Zhou | Economics | Divestitures, mergers and competition | 203,500 |
| Dr Kaiji Chen | Economics | Trends in the U.S. Hours Worked: The Effects of Population Aging and Changes in Social Security Policies | 247,900 |
| Dr Zhigang Li | Economics | Believing or belonging: Economic analysis of contributions to village temples in modern China | 434,660 |
| Dr Melody Lo | Economics | Competition and Reputation in the Market for Information Intermediaries | 138,750 |
| Dr Yulei Luo | Economics | Model Misspecification, Consumption Volatility, and the Current Account in Small Open Economies | 142,450 |
| Dr Frances Xu | Economics | Commission Sharing among Agents | 180,375 |
| Dr Konan Chan | Finance | Information content of reduction in R&D investments | 431,975 |
| Dr Tse-chun Lin | Finance | Detecting Stock Price Barriers | 413,475 |
| Dr Qiao Liu | Finance | On the Chinese Pyramids: evolution, economic effects, and regulations | 319,125 |
| Dr Dragon Tang | Finance | Collateral Asset Portfolio Management of CDOs | 405,150 |
| Prof Chun Hui | Management | Idiosyncratic Deals in Different Cultures: Does Being an Insider Matter? | 323,750 |
| Dr Thomas Ng | Management | The Consequences of Job Embeddedness: A Cross-Cultural Comparison | 276,575 |
| Dr Kevin Zhou | Management | The Evolving Role of Trust and Contracts in China: A Longitudinal Assessment of Foreign Buyer-Local Supplier Exchanges | 384,800 |
| Dr Tracy Zhou | Management | Servant Leadership on Team Performance: Moderating Effects of Team Values | 167,425 |
| Prof David Tse | Marketing | Assessing Consumer Product Brand performance in China: a Dynamic Capability Model | 331,150 |
| Dr John Zhu | Marketing | Antecedents of Customer Satisfaction An Examination with Firm Level Augmented Quality-Satisfaction Framework | 271,950 |
GRF 2009-10
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr Jun Han | Accounting | The Effect of Self-Serving versus Self-Disserving Attributions with Management Earnings Guidance | 267,500 |
| Dr Xiaohui Gao | Business Studies | Mutual Fund Brokerage Commissions and Soft Dollars | 462,240 |
| Dr William Chan | Economics | The Effect of Dowry on the Welfare of Women | 449,720 |
| Dr Stephen Chiu | Economics | A Theory of Intergroup Relation: with Applications to the Decline of Class and Diversity and Economic Performance | 241,792 |
| Dr Zhigang Li | Economics | Growth, Haze, and Health Outcomes: Empirical Evidence from China (1978-2006) | 321,200 |
| Dr Yulei Luo | Economics | Incomplete Information Diffusion, Durables Consumption, and Inertial behavior | 154,080 |
| Dr CY Tse | Economics | Search and Matching in a Spatial Economy - Middlemen, Agglomeration Economies, and the Growth of Cities as Commercial Centers in Economic Development | 226,544 |
| Dr Pai Xu | Economics | Unobservable Heterogeneity in Wage Variations: A Structural Approach | 317,000 |
| Dr Yi Lu | Economics | An Economic Analysis of Economic Institutions and FDI Location Choice | 250,000 |
| Dr Dragon Tang | Finance | Understanding the 2007/2008 Credit Crisis: Collateralized Debt Obligations (CDO) Credit Ratings | 286,760 |
| Dr Jin Zhang | Finance | The Chinese Warrant Market | 400,000 |
| Prof Eric Chang | Finance | Dual-listing and pricing efficiency: The informational and anchoring role played by the reference price. | 414,090 |
| Prof Patrick Chau | Information System Management | Examining the Effects of Avatars as a New Form of Personalization Agents on Online Shopping Decision Making and How Distrust Influences These Effects | 484,140 |
| Dr S Venkata Subban | Management | Strategic Groups: A Business Model Perspective | 334,482 |
| Dr Tan Wang | Others - relating to Business Studies (International Business(Foreign Direct Investments in China)) | Assessing Positive and Negative Spillovers of Non-local Direct Investments in Chinese Cities: An Institutional-Based Model | 301,055 |
| Dr Neale O'Connor | Others - relating to Business Studies (Management Accounting) | The use of management control systems in buyer supplier partnerships | 456,200 |
| Dr Benjamin Yen | Software | Analytical Modeling, Evaluation and Enhancement of Website Design | 438,720 |
GRF 2008-09
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr Jun Han | Accounting | Investors' Reactions to Management Earnings Guidance: The Joint Effect of Investment Position, News Direction, and News Ambiguity | 359,600 |
| Prof Amy Lau | Accounting | Alternative Approaches for Handling Demand Curves and Production Costs in a Fundamental Supply-Chain Pricing Model (new proposed code 41081) | 644,180 |
| Dr Neale O'Connor | Accounting | The Influence of Insitutional Factors and Specific Knowledge on Organization Design and Performance Measurement in China's Listed Enterprises. | 395,580 |
| Dr Echo Wan | Business & Management Studies | When Controlling Risk Risks Control: Communicating Health Risk Perceptions and Consumer Self-control | 412,500 |
| Dr Liu Zheng | Economics | Short Sale Constraints, Asymmetric Price Movements, and Skewness: Evidence from Hong Kong | 254,100 |
| Dr Paul Lau | Economics | Economic Impacts of Fertility and Mortality Changes: Decomposing Demographic Dividend | 269,452 |
| Dr Melody Lo | Economics | Strategic Voting in Multi-candidate Races | 241,880 |
| Prof Wing Suen | Economics | Delay as a Mechanism to Improve Collective Decision Making | 263,000 |
| Prof Larry Qiu | Finance | An Empirical Analysis of Antidumping Filings and Decisions | 355,000 |
| Dr Konan Chan | Finance | Market timing and the cost of raising equity through seasoned equity offerings | 310,000 |
| Dr Dean Xu | Management | Corporate Diversification, Group Diversification, and the Performance of Chinese Listed Firms | 464,000 |
| Dr Cheng Qiu | Marketing | Disentangling the Dual Impact of Affect on Product Judgment: The Role of Marketing Stimuli Characteristics | 482,185 |
GRF 2007-08
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr Christine Chan | Business & Management Studies (including Accounting) | The Institutional Perspective of Foreign Affiliate Performance | 402,368 |
| Prof Simon Lam | Business & Management Studies (including Accounting) | Hiddle Profile Decision Making: The Effects of Group Efficacy | 367,184 |
| Dr Bennett Yim | Business & Management Studies (including Accounting) | Effect of Coalignment of Service Strategy on Service Performance Metrics and Firm Performance Outcomes: An Integrative and Contingency Approach | 714,520 |
| Dr Stephen Chiu | Economics (including Finance) | Dissecting a Centralized College Admission Scheme | 210,008 |
| Dr Qiao Liu | Economics (including Finance) | Institutions, Financial Development, and Corporate Investment: Evidence from China's Reform Era | 815,480 |
| Dr Yulei Luo | Economics (including Finance) | Risk Sensitivity Meets Rational Inattention | 166,500 |
| Prof Zhigang Tao | Economics (including Finance) | An Economic Analysis of the Bi-sourcing Strategy for Organizing Production in the Global Economy: A Property Rights Theory Approach | 360,000 |
| Dr Jianguo Xu | Economics (including Finance) | Heterogeneous Confidence and Short Sale Constraints: Implications for Volatility, Volume, and Skewness | 610,000 |
ECS 2021-22
| Principal Investigator | Area | Project Title | Amount Awarded (HK$) |
| Dr. G. She | Accounting and Law | Firm Boundaries and Disclosure Quality | 504,000 |
| Dr. P. Taori | Accounting and Law | The Power of Facial Expressions: Do CEOs’ Facial Emotions Convey Information to Capital Markets? | 455,992 |
| Dr. J.D.G. Lim | Economics | Ethnic Segregation and National Identity: Evidence from Large-Scale Resettlement in Malaysia | 929,594 |
| Dr. X. Fang | Finance | Inflation Risk in the Currency Market | 547,000 |
| Dr. C.I. Dang | Marketing | The Information Role under Preference Mismatch on Matching Platforms | 674,658 |
| Dr. J. Cao | Marketing | Study App Market Structure Using Consumer App Usage Data | 495,358 |
ECS 2020-21
| Principal Investigator | Area | Project Title | Amount Awarded (HK$) |
| Dr. L. Qiu | Accounting and Law | Shareholder activism and firm value: the role of board incentive | 415,992 |
| Dr. H. Ouyang | Innovation and Information Management | Optimal bed allocation in intensive care unit with patients' health evolution and patient readmission | 629,540 |
| Dr. Q. Wang | Innovation and Information Management | Understanding matching dynamics in online labor markets | 577,520 |
| Dr. M. Zhuang | Marketing | Feed Your Advertisements Smart: An Empirical Analysis of Newsfeed Native Advertisement Characteristics on Advertising Effectiveness in Mobile News Apps | 374,000 |
ECS 2019-20
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. J. Du | Marketing | News Aggregation in Media Markets | 251,700 |
| Dr. A.P. Kwan | Finance | Big data measures of labor supply and their economic consequences to firm performance | 891,340 |
| Dr. Y. Liu | Finance | Intermediary-Based International Asset Pricing | 402,400 |
| Dr. W. Miyamoto | Economics | The Role of International Trade on Business Cycle Volatilities: A Quantitative Assessment | 434,748 |
ECS 2018-19
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. Z.T. Huang | Marketing | Seeking Meaning through Constructing Preferences: The Effect of Life Meaninglessness on Preference Construction | 545,351 |
| Dr. K.R. Lee | Accounting and Law | The effect of SEC reviewer characteristics on the review process: An empirical examination of CTO reviews | 320,000 |
| Dr. S. Park | Economics | Technology Upgrading in Agricultural Export Supply Chains: A Field Experiment in Vietnam | 373,100 |
| Dr. A.J. Sinclair | Finance | Hot Money in the Hedge Fund Market | 371,378 |
| Dr. C. Sun | Management and Strategy | Globalization, Capital-biased Technological Change, and the Labor Shares | 200,700 |
| Dr. M. Tai | Finance | The financial and real consequences of mortgage securitization on SMEs: evidence from GSE policy changes | 570,380 |
ECS 2017-18
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. H.M. Jia | Marketing | When Consumers Perceive Products as Biological Entities: Exploring a New Perspective on How Product Anthropomorphism Affects Consumer Decision Making | 510,000 |
| Dr. T.W. Kim | Accounting | Networks, Inter-firm Relationships, and Disclosure | 370,000 |
ECS 2016-17
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. T. Schmid | Finance | Price Uncertainty, Operating Flexibility, and Payout Policy | 517,000 |
| Dr. Y. Tang | Strategy | The Growth of Emerging Market Firms and Capital Market Choice | 403,790 |
| Dr. Z. Wang | Finance | Bank Network Centrality and Risk Sharing | 509,000 |
| Dr. Y. Xu | Finance | Partisan Politics, Tax Policy Uncertainty, and Asset Pricing | 497,996 |
| Dr. B. Zhao | Strategy | Resource-Seeking Relocation: A Study of Life Sciences Startup Mobility | 345,828 |
ECS 2015-16
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. Y. Sun | Finance | Mandatory Dividends and Shareholder Protection | 348,614 |
| Dr. T.T. Gu | Accounting | The economics of enhancing audit transprancy: auditor’s reporting model and stakeholder’s behaviors | 376,614 |
| Dr. J.H. Joo | Accounting | The ability of expected credit losses versus incurred credit losses to predict future credit losses: Implications for the 2014 credit loss accounting reform from Basel II and incurred credit loss disclosures | 304,715 |
| Dr. K. Na | Accounting | Does CFO Incentives Cause Accounting Manipulation? Evidence from a Natural Experiment | 228,614 |
| Dr. Y. Zhang | Management | Leaders' Work Demands and Abusive Supervision: A Self-Verification Perspective | 599,748 |
ECS 2014-15
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. S.J. Jia | Marketing | The Taste of a Good Deal: How Transactional Utility Affects Experiential Utility | 569,600 |
ECS 2013-14
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. S. Kim | Marketing | How Self-Affirmation Changes Emotions and Consumer Word-of-Mouth Communications | 421,840 |
| Dr. H.H. Kwok | Economics | Identification Problems in Linear Social Interaction Models | 140,000 |
ECS 2012-13
| Principal Investigator | Primary Field | Project Title | Amount Awarded (HK$) |
| Dr. X. Hu | Business Studies | Arbitrage Spreads and Aggregate Liquidity | 456,800 |
| Financial Year of income received | PI/ Grant Holder | Department | Funding Body | Funding Scheme | Project Title | Start Date (dd/mm/yy) | Completion Date (dd/mm/yy) | Amount of Funding (HK$) |
| 2017-2018 | Shen, Haipeng, Prof | Faculty of Business and Economics | Ministy of Science and Technology of the People's Republic of China 中华人民共和国科学技术部("科技部") | 国家重点研发计划 | 脑血管病临床研究大数据关键技术及标准和运行共享机制研究 | 11/1/2017 | 12/31/2020 | 235,162.00 |