Prof. Keith Kit Pong Wong
Prof. Keith Kit Pong Wong,
School of Economics and Finance, University of Hong Kong, China
Professor K. P. Wong received his Ph.D. in finance from the University of British Columbia in 1993, after which he taught at the Hong Kong University of Science and Technology. He joined the School of Economics and Finance at the University of Hong Kong in July 1996 and became the School Director in March 2012. Professor Wong's research is mainly theoretical and can be divided into three areas: corporate finance, risk management and decision making under uncertainty, and real options. Beginning with his Ph.D. dissertation, Professor Wong's research on corporate finance focuses on integrating financial contract theories with industrial organization theories. Since 1998, Professor Wong has done research on risk management and decision making under uncertainty. He is particularly interested in the issues of how firms should hedge their exposure to various sources of uncertainty (e.g., exchange rate risk, price risk, and liquidity risk), and whether they use options for hedging purposes. Firms’ preferences towards risk, regret, and ambiguity, as well as state-dependent preferences are studied. Professor Wong started his research on real options in 2004. His paper entitled "The Effect of Uncertainty on Investment Timing in a Real Options Model," points out that the investment-uncertainty relationship is necessarily U-shaped unless the underlying uncertainty is purely idiosyncratic in nature, as is commonly considered in the extant literature. He also studies a firm’s capital structure and capital budgeting decisions using the real options approach.