Prof. Stephen Cheung Yan-leung
Global Financial System: Structure, Crisis, and Reform, John F. Kennedy School of Government, Harvard University (2001)
PhD in Finance, University of Strathclyde (1993)
PhD in Statistics, University of Paris VI (1985)
Bachelors in Mathematics, The Chinese University of Hong Kong (1982)
Financial Market Development
Silver Bauhinia Star, Hong Kong Special Administrative Region Government (2019)
Officier dans l'Ordre des Palmes Académiques, French Government (2017)
Bronze Bauhinia Star, Hong Kong Special Administrative Region Government (2009)
Justice of the Peace, Hong Kong Special Administrative Region Government (2007)
"Where do banks value corporate social responsibility (CSR) more? Evidence on the role of national culture" has won the Banco Nacional Ultramarino Best Paper Award at the 7th World Business Ethics Forum. (2018)
"Privatization and Risk Sharing: Evidence from the Split Share Structure Reform in China" has won the Sun Yefang Financial Innovation Award 2014. (2015)
"Transparency Index and Company Valuation: Evidence from Hong Kong" is the winning paper of the Hong Kong Asian Capital Markets Research Prize 2009 of CFA Institute and The Hong Kong Society of Financial Analysts (HKSFA). (2009)
"Corporate Governance and Stock Returns in Hong Kong: Carrots or Sticks?" is the winning paper of the Hong Kong Asian Capital Markets Research Prize 2008 of CFA Institute and The Hong Kong Society of Financial Analysts (HKSFA). (2008)
"The helping hand, the lazy hand, or the grabbing hand? Central vs. local government shareholders in publicly listed firms in China" has won the first prize in TCFA 2008 Best Paper in Corporate Finance (TCFA-The Chinese Finance Association). (2008)
Cheung, Y. L., Haw, I. M., Tan, W. Q., & Wang, W. M. (forthcoming in 2021). Auditor Appointment Strategy and Intragroup Value Transfers: Evidence from Family Business. Journal of Accounting, Auditing and Finance.
Cheung, Y. L., Rau, P. R., & Stouraitis, A. (2021). What Determines the Return to Bribery? Evidence from Corruption Cases Worldwide. Management Science, 67(10), 6235-6265.
Cheung, Y. L., Rau, P. R., Stouraitis, A., & Tan, W. Q. (2021). Does the Market Understand the Ex Ante Risk of Expropriation by Controlling Shareholders? Journal of Corporate Finance, 1-55.
Ahn, H., Cai, J., & Cheung, Y. L. (2020). Execution Costs, Investability, and Actual Foreign Investment in Emerging Markets. China Finance Review International, 10(2), 143-167.
Cheung, Y. L., & Stouraitis, A. (2020). Report on the HKIoD Corporate Governance Scorecard 2020. The Hong Kong Institute of Directors.
For more publications, please visit: