基本介紹
人物簡介,學術成就,社會任職,學術著作,
人物簡介
陳家樂教授早年於美國亞利桑那州立大學任教時，香港中文大學（中大）曾邀請陳家樂回歸母校執教鞭，但由於當時的陳家樂希望在美國的大學多汲取經驗，所以便婉拒了。直至2014年，他又再次獲得中大的邀請出任商學院院長，陳家樂認為以院長身分帶領中大商學院，是一個能讓他發揮多年來在大學所累積教學、研究和行政經驗的好機會，因此便欣然接受了任命。
陳家樂對中大早已建立深厚的感情和歸屬感，配合商學院同事的支持，在很短的時間內便已適應新崗位。至於挑戰方面，陳家樂表示：“中大是一間擁有優良傳統和完善制度的大學，有時候需要花點時間遊說同事嘗試新事物和作出改變。”
學術成就
陳教授的研究領域包括資產價格、衍生工具、市場微觀結構及國際金融市場的動態。他是位著作甚豐的研究學者，曾於多份頂尖財務學術期刊發表論文，更多次獲評為亞太區最出色的財務學研究學者。
陳教授於2008至2010年間擔任亞洲財務學會主席，以及於1997至2008年間獲委任為《Pacific-Basin Finance Journal》的編輯之一。
陳教授亦是CFA協會特許財經分析師。
社會任職
陳教授對於推動金融界發展不遺餘力。他於2008至2010年間擔任亞洲金融學會主席，並曾任香港交易及結算所有限公司風險管理委員會委員、香港特別行政區人力資源發展（金融服務）顧問委員會委員、醫院管理局投資委員會、恒生指數有限公司及香港房屋委員會的成員。
學術著作
SELECTED ACADEMIC PUBLICATIONS
“Price Informativeness and Stock Return Synchronicity:Evidence from the Pricing of Seasoned Equity Offerings”, with Y.C. Chan, 2014, Journal of Financial Economics, vol. 114, 36-53.
“Cross-Sectional Stock Return Predictability in China”, with Nusret Cakici and Kudret Topyan, 2014,European Journal of Finance
“When the Tail Wags the Dog: Industry Leaders and Cross-Industry Information Diffusion” with Ling Cen, Sudipto Dasgupta, and Ning Gao, 2013, Management Science, Vol 59, no. 11: 2566-2585.
“Stock Price Synchronicity and Liquidity”, with Allaudeen Hameed and Wenjin Kang. 2013, Journal of Financial Markets,Vol 16, 416-438.
“Why Foreign Investors Trade More Frequently?” with Vicentiu Covrig, 2012, Journal of International Money and Finance, Vol 31, 793-817.
Asymmetric Price Distribution and Bid-Ask Quotes in the Stock Options Market", 2012, with Peter Chung,Asia-Pacific Journal of Financial Studies, Vol 41, .87-102.
“The Relationship between Commodity Prices and Currency Exchange Rates: Evidence from Futures Markets”, with Yiuman Tse and Michael William, 2011, Commodity Prices and Markets, NBER-EASE, edited by Takatoshi Ito and Andrew K. Rose, Vol 20, 47-71
“Home Bias and Firm Value, Evidence from Holdings of Mutual Funds Worldwide”, with Vincentiu Covrig and Lilian Ng, 2009, Journal of International Economics, 230–241
“Information Asymmetry and Asset Prices: Evidence from the China Foreign Share Discount”, with Albert J. Menkveld and Zhishu Yang, Journal of Finance, 2008, Vol 63, 159-196.
“International portfolio allocations during the Asian financial crisis: Evidence from U.S. closed-end funds”, with Bae, Kee-Hong and Wai-Ming Fong, 2008, in Stock Market Liquidity: Implications for Market Microstructure and Asset Pricing, edited by Greg N. Gregoriou and Francois-Serge Lhabitant.
“Portfolio Concentration and Closed-End Fund Discounts: Evidence from the China market”, with Hung-Wan Kot, 2007, Emerging Market Finance, Vol 9, 129 - 143
“Tick Size Change and Liquidity Provision on the Tokyo Stock Exchange”, with Hee-Joon Ahn, Jun Cai, and Yasushi Hamao, 2007, Journal of the Japanese and International Economies, Vol 21, 173-194.
“The informativeness of domestic and foreign investors’ stock trades: Evidence from the perfectly segmented Chinese market , 2007, with Albert J. Menkveld and Zhishu Yang, 2007, Journal of Financial Markets, Vol 10, 391-415
“Stock Price Synchronicity and Analyst Coverage in Emerging Markets,” with Allaudeen Hameed, 2006,Journal of Financial Economics, Vol 80, 115-147
“Price Reversal and Momentum Strategies”, 2006, with Hung Wan Kot, Journal of Investment Management,Vol 4, 70-89.
“Market Segmentation and Share Price Premium: Evidence from Chinese Stock Markets” 2005, with Johnny Kwok, Journal of Emerging Market Finance, 4, 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? Evidence from Jardine Group Trading”, 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 Studies 15,1049-1075.
“Limit Orders, Depth, and Volatiltiy, Evidence from Stock Exchange of Hong Kong” 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.
"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.
“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, 153-172.
"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.
"Asian Stock Market Bubbles", with Grant McQueen and Steve Thorley, Pacific-Basin Finance Journal , 1998, Vol 6, 125-152.
"An Empirical Examination of Information, Differences of Opinion, and Trading Activity," with Hank Bessembinder and Paul Seguin, Journal of Financial Economics, 1996, Vol 40, 105-134.
"Intraday Bid-Ask Spread Pattern in the Stock and Option Market," with Peter Chung and Herb Johnson, Journal of Finance and Quantitative Analysis, 1995, Vol 30, 329-346.
"Vector Autoregression or Simultaneous Equations Model? The Intraday Relationship Between Index Arbitrage and Market Volatility," with Peter Chung, Journal of Banking and Finance, 1995, Vol 19, 173-179.
"The Profitability of Technical Trading Rules in the Asian Stock Markets," with Hank Bessembinder, .Pacific-Basin Finance Journal, 1995, Vol 3, 257-284.
"Why Option Prices Lag Stock Prices: A Trading-Based Explanation," with Peter Chung and Herb Johnson,Journal of Finance, 1993, Vol 48, 1957-1967.
"Imperfect Information and Cross-Autocorrelation Among Stock Prices," Journal of Finance, 1993, Vol 48, 1211-1230.
"Index Arbitrage, Spot and Futures Price Volatility, and Spot Market Volume: A test with Intraday Transactions Data", with Peter Chung, Journal of Banking and Finance, 1993, Vol 17, 663-688.
"Price Volatility in the Hong Kong Stock Market: A Test of the Information and Trading Noise Hypothesis," with Yue-cheong Chan, Pacific-Basin Finance Journal, 1993, Vol 1, 189-201.
"Time Varying Risk Premia and Forecastable Returns in Futures Markets," with Hank Bessembinder, Journal of Financial Economics, 1992, Vol 32,169-193.
"A Further Analysis of the Lead-lag Relationship Between the Cash Market and Stock Index Futures Markets", Review of Financial Studies, 1992, Vol 5, 123-152.
"Intraday Volatility in the Stock Market and Stock Index Futures Market", with K.C. Chan and Andrew Karolyi,Review of Financial Studies, 1991, Vol 4, 657-684. Also appear in Volatility: New Estimation Techniques for Pricing Derivatives, Risk Books, June 1998, 163-178.
OTHER PUBLICATIONS
Book review: Asian Money Markets, edited by David Cole, Hal Scott and Philip Wellons, Journal of Comparative Economics, 1997, Vol 24, 362-364.
“A Retrospective Evaluation of the Pacific-Basin Finance Journal, 1993–2002,” with Andrew Karolyi and Ghon Rhee, Pacific-Basin Finance Journal, 2002, Vol 10, 497-516,
WORKING PAPERS
“Does Option Trading Affect the Return Predictability of Short Selling Activity?” with Hung Wan Kot and Sophie X. Ni
“Do Behavioral Biases Affect Order Aggressiveness?”, with Jiangze Bian, Donghui Shi and Hao Zhou
“Effects of Short-sale Constraints on Stock Prices and Trading Activity: Evidence from Hong Kong and Mainland China,” with Hung Wan Kot and Zhishu Yang.
Global Currency Hedging: Evidence from Conditional Coskewness and Cokurtosis, with Jian Yang and Yinggang Zhou
“Why Investors Do not Buy Cheaper Securities? An Analysis of Trading by Individual Investors in Chinese Stock Market,” with Baolian Wang and Zhishu Yang.
”Mutual Fund Herding and Dispersion of Analysts’ Earnings Forecasts” , with Chuan-Yang Hwang and Mujtaba Mian (Unpublished Manuscript).
