MPhil-PhD in Finance
The MPhil* and PhD Programmes in Finance at The Chinese University of Hong Kong provides students with rigorous training in corporate finance and asset pricing. The programme prepares students to engage in productive and original research in the broad area of finance in leading research universities. The faculty members in the department published widely in top finance journals such as Journal of Finance, Journal of Financial Economics and Review of Financial Studies and top economic journals such as American Economic Review, Journal of Political Economy and Review of Economic Studies.
The Department of Finance pursues five research specialisations:
Behavioural finance studies investors’ deviations from rationality and the subsequent impacts on the markets. Specific research studies include behavioural biases of investors, households, and managers, and how biases interact with market frictions.
The corporate finance research concentrates on company financing and investment activities and corporate governance. Specific research topics include capital structure decision, mergers and acquisitions, minority shareholder protection and corporate governance issues in China.
This research area studies derivative assets and markets. Specific research topics include the pricing and investment of derivatives on underlying assets such as equity, commodity, currency, etc., and the hedging of institutions and corporations with derivative products.
Empirical Asset Pricing
This area conducts empirical research on asset pricing. Specific research topics include asset market efficiency and anomalies, price behaviours, implications for portfolio selection, and investment strategies.
Financial Markets and Institutions
The research area covers the instruments traded in the financial markets, the analysis of money and capital markets, and economic and environmental problems related to acquisitions and the use of funds by financial institutions. Specific research studies include the collateralized debt obligation market, bank advertising and the marketing of products and services.
* The MPhil Programme in Finance is not accepting application for 2022 intake.