Darwin Choi

    Assistant Professor, July 2009-Present

     Department of Finance, Hong Kong University of Science and Technology (HKUST)

     [CV (pdf)]   [Email: dchoi @ ust.hk]   [Phone: +852-2358-7672]

    Education

        Yale University

          Ph.D. (Finance), May 2009

        Wharton School, University of Pennsylvania

          B.S. in Economics, Summa Cum Laude, Dual Concentration in Finance and Statistics, May 2004

        University of Pennsylvania

B.S. in Engineering, Summa Cum Laude, Major in Electrical Engineering, Minor in Mathematics, May 2004

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    Research

        Research Interests

          Behavioral Finance, Mutual Funds, Hedge Funds, Market Microstructure

        Publications

          Articles

• Convertible Bond Arbitrageurs as Suppliers of Capital (with Mila Getmansky, Brian Henderson, and Heather Tookes), 2010, Review of Financial Studies 23, 2492-2522.

     

• Convertible Bond Arbitrage, Liquidity Externalities, and Stock Prices (with Mila Getmansky and Heather Tookes), 2009, Journal of Financial Economics 91, 227-251.

     

   

  Book Chapter

• The Impact of the 2008 Short-Sale Ban on Liquidity and Efficiency, 2011, In: Progress in Economics Research, Volume 18, New York: Nova Science Publishers, 213-220.

   

        Working Papers

• Performance-Chasing Behavior and Mutual Funds: New Evidence from Multi-Fund Managers (with C. Bige Kahraman and Abhiroop Mukherjee)

   

• The Impact of the Disposition Effect on Liquidity and Stock Prices

     

• The Role of Surprise: Understanding Overreaction and Underreaction to Unanticipated Events using In-Play Soccer Betting Market (with Sam K. Hui)

  • Securities & Futures Institute Best Paper Award, Asian Finance Association International Conference 2012

   

• A Test of the Self-Serving Attribution Bias: Evidence from Mutual Funds (with Dong Lou)

     

        Non-Finance Publication

• Quadratic Assignment Problems (QAP) and Its Size Reduction Method, 2003, Rose-Hulman Undergraduate Mathematics Journal 4.

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    Teaching

• FINA 3104/221 Investment Analysis and Portfolio Management (Undergraduate Level), HKUST

Fall 2012:         

Fall 2011:           

Fall 2010:            

Spring 2010:   

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   Awards

• Securities & Futures Institute Best Paper Award, Asian Finance Association International Conference 2012

•  The Franklin Prize for Teaching Excellence, HKUST Business School, 2012 (Winner), 2011 and 2010 (Finalist)

• General Research Fund, Research Grants Council of Hong Kong, 2011/12 and 2010/11

• Direct Allocation Grant, HKUST, 2009/10

• Yale Fellowship, 2004 - 2009

• Scout of the Year (Hong Kong), 1998

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    Links

• My SSRN page

• Financial Times Professor of the Week, July 19, 2012

• Homeprice.com.hk - A Hierarchical Bayesian approach for valuing residential properties in Hong Kong

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Last updated: May 8, 2013