Chan, Kalok(陳家樂)

BSSc (CUHK); PhD (Ohio)

Wei Lun Professor of Finance
Chairman, Department of Finance


Department of Finance

Room 1202, 12/F, Cheng Yu Tung Building
12 Chak Cheung Street
Shatin, N.T., Hong Kong

+852 3943 7442


Prof. Kalok Chan is Wei Lun Professor of Finance and Chairman of the Department of Finance at The Chinese University of Hong Kong (CUHK) Business School. He was the Dean of CUHK Business School from 2014 to 2019.

Before he joined CUHK Business School in 2014, Prof. Chan was the Synergis-Geoffrey Yeh Professor of Finance at the Hong Kong University of Science and Technology (HKUST), where he has served as the Head of Finance Department (2003-2013) and Acting Dean of HKUST Business School (2013-14). He was the Founding Director of the HKUST-NYU Stern Joint Master in Global Finance programme. Prior to joining HKUST, he was an Associate Professor of Finance at Arizona State University.

Prof. Chan obtained his BSSc in Economics from CUHK, and PhD in Finance from Ohio State University. As a leading scholar and a prominent researcher, Prof. Chan has had numerous publications in top ranked finance journals, and has been ranked as the top finance researcher in the Asia-Pacific region. His research interests focus on dynamics of asset prices, derivatives, market micro-structure, and international financial markets.

Prof. Chan is active in contributing to the profession. He was the past President of Asian Finance Association. He currently serves in a number of committees, including Organising Committee of the HKIB Outstanding Financial Management Planner Awards (Chairman), Human Capital Committee of HK Financial Services and Development Council, Hang Seng Index Advisory Committee, Hong Kong Housing Authority, Hong Kong Academy of Finance, HKIMR Council of Advisers for Applied Research, EFAC Financial Infrastructure and Market Development Sub-Committee (Hong Kong Monetary Authority), Advisory Committee of the Securities and Futures Commission, and TraHK Supervisory Committee. He is an INED in a number of listed and non-listed companies in banking, fund management, insurance, securities, and shipping ports.

Teaching Area

Investment and Asset Pricing

Research Interests

Asset Prices Behaviour
Market Microstructure
Market Volatility
International Finance
Emerging Financial Markets

  • Grants
    • Competitive Earmarked Research Grant awarded by Hong Kong Research Grant Council, 1996 (HK$460,000); 1998 (HK$405,000); 2000 (HK$453,817); 2002 (HK$562000); 2004 (HK$294,525); 2006 (HK$442,000); 2008 (HK$480,000); 2010 (HK$379,250); 2012 (HK$619,000)
    • Postdoctoral Matching Fund awarded by Hong Kong University of Science and Technology, 2000-2002
    • Competitive Research Grant awarded by Pacific-Basin Capital Markets (PACAP) Conference, 1994
    • Summer Research Grant awarded by College of Business, Arizona State University,1994-1995
    • Faculty Grant-in-Aid awarded by Arizona State University, 1994
  • Awards & Honours
    • Top finance researcher in Asia-Pacific Region (Pacific-Basin Finance Journal), 2001 & 2011
    • Hong Kong Society of Financial Analysts (HKSFA) Research Award, 2011
    • Best Paper Award, China International Conference in Finance (CICF), 2008
    • Top finance researcher in Asia-Pacific Region for the 1990-2008 period (according to Pacific-Basin Finance Journal)
    • Winner of the Barclays Global Investors Australia Research Award, Australasian Finance and Banking Conference, 2006
    • Nominated for Smith Breeden’s Prize, Journal of Finance; Listed in Who’s Who in Economics (Third Edition), 2006
    • Outstanding Paper Award, Eastern Finance Association Meetings, 2003
    • Senior Wei Lun Fellow (HKUST), 2000-2003
    • PACAP Best Paper Award, APFA/PACAP/FMA International Finance Conference, 2002
    • Wei Lun Fund Fellowship (HKUST), 1997-1998
    • Pacific-Basin Capital Markets (PACAP) Research Fellow, 1994
    • Ohio State University, Presidential Fellowship, 1989-1990
    • Ohio State University, Outstanding Research Award, 1989
    • Ohio State University, McCoy Scholarship, 1988
  • Academic/Professional Services

    Professional Service

    • Member, Securities and Futures Commission Advisory Committee, 2018-Present
    • EFAC Financial Infrastructure and Market Development Sub-Committee of Hong Kong Monetary Authority, 2017-Present
    • Chairman, Organising Committee, Hong Kong Institute of Bankers; Outstanding Financial Management Planner Awards, 2008-Present
    • Member, TraHK Supervisory Committee, 2014-Present
    • Member, Hospital Authority Investment Committee, 2009-Present
    • Member, Hang Seng Index Service Limited, 2008-Present
    • Member, Tender Committee of Hospital Authority, 2014-Present
    • Member, Finance Committee of Hospital Authority, 2015-Present
    • Member, Banking and Finance Industry Training Board, Vocational Training Council, 2013-2015
    • Member, Asia-Pacific Regional Committee, FTSE, 2001-2014
    • President, Asian Finance Association, 2008-2010
    • Convenor, Working Group on Industry/Academic Partnership, Advisory; Committee on Human Resource Development (Financial Services), Hong Kong, 2006-2009
    • Convenor, Working Group on Professional Development, Advisory Committee on Human Resource Development (Financial Services), Hong Kong, 2009-2011
    • Member, Risk Management Committee, Hong Kong Exchanges and Clearing Limited, 2005-2011
    • Member, Committee on Unit Trusts, Hong Kong Securities and Futures Commission, 2006-2012
    • Member, Committee on Investment-Linked Assurance and Pooled Retirement Funds, Hong Kong Securities and Futures Commission, 2006-2012
    • Member, Academic and Accreditation Advisory Committee, Hong Kong Securities and Futures Commission, 2005-Present
    • Member, Advisory Committee on Human Resource Development (Financial Services), Hong Kong, 2004-2006
    • Panel Member, Hong Kong Research Grants Council, 2004-2009
    • Member, Examination Board, Institute of Financial Planners of Hong Kong, 2003-2007
    • External Reviewer, Licensing Examination for Securities and Futures Intermediaries, 2003
    • Advisor, Hong Kong Association of Investors, 2000-2006
    • Member, Working Group for the Development of Licensing Examinations, Hong Kong Securities Institute, 2002

    Editorial Service

    • Co-editor, Pacific-Basin Finance Journal, 1997-2008
    • Associate Editor, Journal of Applied Finance, 2013-Present
    • Associate Editor, Journal of Financial Perspectives, 2012-Present
    • Associate Editor, Pacific-Basin Finance Journal, 2008-Present
    • Associate Editor, Emerging Market Review, 2007-Present
    • Associate Editor, Journal of Financial Research, 2006-2013
    • Associate Editor, Review of Finance, 2008-2011
    • Associate Editor, Asia-Pacific Journal of Financial Studies, 2007-2010
    • Associate Editor, Finance Letters, 2003-2006
    • Associate Editor, Asia-Pacific Journal of Finance, 1996-1998