Team Profile

The key research team members of the Faculty of Finance include 1 professor, 4 associate professors, and 1 assistant professor. There are also 12 specially appointed (i.e., adjunct) professors. The Faculty also houses the Institute of Economic Research, headed by 1 Director with a team of 6 researchers. 

Some team members have participated in key national or Macao research projects, such as the National Natural Science Foundation of China, the Macao Higher Education Bureau project, the Macao Foundation and other funded projects, as well as the Macao Talent Development Commission’s industry survey on future manpower demand. They have also published a number of influential reports on Macao's economic and financial policies and are experienced in doing empirical research, policy analysis and modeling, and survey.

Prof. Adrian (Wai Kong) Cheung

He holds a Ph.D. in Finance from the Hong Kong University of Science and Technology and has taught at Lingnan University in Hong Kong, Griffith University in Australia, Curtin University and Flinders University, respectively. His research interest is empirical finance. His long-standing research interest is to understand the financial mechanisms of contemporary business problems. He has received various research grants, including the National Science Foundation of China, the Australia-China Future Dialogue Foundation and AFAANZ Research Grants. He is also a visiting scholar at Peking University and the Hong Kong University of Science and Technology. His articles have been published in international journals, including Journal of Corporate Finance, Journal of Banking and Finance, Journal of Business Ethics, Financial Review, International Review of Economics and Finance, International Journal of Finance & Economics, Accounting and Finance, Journal of Contemporary Accounting and Economics, Economic Modelling, Applied Economics, Energy Economics, etc.

Associate Professor Eva, Yueng Wah Khong

She is a graduate of Lingnan University in Hong Kong and has won a master’s degree and Ph.D. degree from the University of Bath (UK) and Instituto Superior de Ciens do Trabalho e da Empresa (Portugal). She has taught at Lingnan University (Hong Kong) and the University of Macau, as well as other universities in China, France and Portugal. She has worked in human resources management and consultancy, training, and related projects management for many years. Her research areas include innovations management, global comparative management, Chinese human resource management, and strategic management in the Pacific region.

Associate Professor Lucy, Shiyan Lou

She received her bachelor's degree, master's degree and doctorate degree all from Nankai University. Her research areas include financial economics, Belt and Silk Road Economics, labor economics, human capital theory, and industrial economics. She has participated in research projects of the National Natural Science Foundation of China, the Macao Higher Education Bureau, the Macao Foundation, etc. More than twenty papers have been published in well-known international and Chinese journals, including Sustainability, Statistics and Decision Making, Population and Economics, Labor Economy Review, and Modern Japanese Economy.

Associate Professor Yinggui Wang

He holds a Ph.D. from Fudan University and an MBA from McGill University. He has a strong interest in international finance, fintech and big data research. He has published more than 20 papers in well-known Chinese journals, including China Money Market, New Finance, Wuhan Finance, Asia-Pacific Economy, Technical Economy and Management Research, and Modern Japanese Economy.

Associate Professor Gavin, Zefu Wu

He is a Ph.D. graduate of Xiamen University and ACCA full member. His research interests are risk management, financial accounting, and audit practice. He has published more than twenty papers in leading international and Chinese journals, including Journal of Business Research, Journal of Technology Transfer, Asian Business and Management, Scientific Management, and Scientific Research.

Assistant Professor Derick, Deqin Lin

He holds a Ph.D. in Quantitative Economics, Huaqiao University. His research interests include financial quantitative analysis, macroeconomic modeling, and risk management. He has published more than twenty papers in well-known journals in China. He has participated in research projects such as legal protection of Macao's financial securities, policy coordination and technology support research, medical service quality innovation research based on big data mining technology, and research on the future demand for talent of Macao's construction industry.

Key publications in recent years

1. Selected journal publications:

1. Cheung, A., Hasan, M. and Khoo, J. (2021) “Distracted institutional investors and corporate cash holdings” International Review of Economics and Finance 71: 453-466. (SSCI; ABDC: A) https://doi.org/10.1016/j.iref.2020.08.018
2. Khoo, J. and Cheung, A. (2021) “Does geopolitical uncertainty affect corporate financing? Evidence from MIDAS regression” Global Finance Journal 47: 100519. (ESCI; ABDC: A) https://doi.org/10.1016/j.gfj.2020.100519
3. Wong, M., Cheung, A., and Wei, H. (2020) “When Two Anomalies Meet: Volume & Timing Effects on Earnings Announcements”, Financial Review (accepted) (ESCI; ABDC: A; ABS:3) https://doi.org/10.1111/fire.12255
4. Lu, R., Cheung, A., Vu, T., and Islam, S. (2020) "Which measure of systematic risk should we use? An empirical study on systematical risk and Treynor measure using the economic index of riskiness and operational measure of riskiness", International Journal of Finance & Economics. (accepted) (SSCI; ABDC: B; ABS: 3) https://doi.org/10.1002/ijfe.1875
5. Hasan, M., Cheung, A., and Taylor, G. (2020) “Financial statement comparability and bank risk-taking” Journal of Contemporary Accounting and Economics 16(3): 100206 (SSCI; ABDC: A) https://doi.org/10.1016/j.jcae.2020.100206
6. Cheung, A., Kot, H., Lam, E., & Leung, H. (2020) “Toward understanding short-selling activity: Demand and supply” Accounting and Finance 60: 2203-2230 (SSCI; ABDC: A) https://doi.org/10.1111/acfi.12430
7. Shi, Q., Li, B., Chung, R., and Cheung, A. (2020) “Investigating linear multi-factor models in asset pricing: considerable supplemental evidence”, Asia-Pacific Journal of Accounting & Economics 27: 242-260 (SSCI; ABDC: B) https://doi.org/10.1080/16081625.2017.1419878.
8. Luo Shiyan, and Lu Jiadi (2020). “The evolution, achievement and predicament of the research on the evaluation index of social strata”. Journal of Guizho University of Finance and Economics 1:103-110.

2. Reports:

1. The Talent Development Committee of the Government of the Macao Special Administrative Region (2021) Research on the future talent demand of the construction industry in Macao. Khong Yueng Wah & Lin Deqin (ed.).
2. Luo Shiyan and Lin Guangzhi (2019). The employment and income of Macao residents and the recent characteristics and trends of their social strata. Macao Economic and Social Development Report (2018-2019). Social Science Literature Press:303-316.
3. Lou Shiyan (2019) The current situation, problems and counter measures of Macao's gaming labor force. Lin Guangzhi (ed.), Macau Tourism and Leisure Development Report (2018-2019) pp. 193-210. Beijing: Social Science Literature Press.
4. Ip Kuai Peng, Wang Xin, Lin Deqin (2019). Ageing Studies of the Population in Macao. Beijing: Economic Management Press.
5. Lou Shiyan, Li Hongjiang, Lin Deqin (2019). A Research on legal protection, policy coordination and technology support of Macao's financial securities. Beijing: Economic Management Press.

Future major research directions

The Faculty research team focuses on "modern finance" and related economic, commercial, financial, and accounting issues. It includes sustainable finance, green finance, financial leasing, fintech, wealth management, RMB internationalization and other important issues. The team also focuses on related research in the Great Bay Area.

The main research of the Institute of Economic Research includes Macao’s economic development strategy in Macao, optimization of industrial structure adjustment and local people's livelihood improvement, and China's economic and social transformation, reform, export-oriented economy, and economic integration in mainland China, Hong Kong, Macao and Taiwan.

Contact Email: fof@cityu.mo