Yao, Chen (Alison)

BS (Tulane University); PhD (University of Illinois at Urbana-Champaign)

Assistant Professor


Department of Finance

Room 1050, 10/F
Cheng Yu Tung Building
12 Chak Cheung Street
Shatin, N.T., Hong Kong

+852 3943 3215



Prof. Chen (Alison) Yao joined The Chinese University of Hong Kong (CUHK) Business School as an Assistant Professor of Finance in 2017. Her primary research interests are high-frequency trading, market microstructure, and empirical asset pricing. Her work on odd-lot trades has a wide policy impact which leads to changes in the US trade reporting rules. Her researches have been published in the Journal of Finance and American Economic Review: Papers and Proceedings. She holds a PhD in Finance from the University of Illinois at Urbana-Champaign. She received her BS in Mathematics with Summa Cum Laude from Tulane University in the United States.

Teaching Area

Financial Management

Research Interest

High-frequency Trading
Market Microstructure
Empirical Asset Pricing