Prof. LAM, Keith

Associate Professor of Finance

 

Faculty of Business Administration
University of Macau
Avenida Padre Tomás Pereira, Taipa,
Macau, China.

Room: L217
Telephone: (853) 8397-4167
Fax: (853) 28838320
E-mail: KeithLam@umac.mo

Personal Homepage: http://personalweb.umac.mo/keithlam

 

Academic Qualifications

 

·         BS(eqv.) in Business Administration, Hong Kong Baptist College, Hong Kong SAR, China

·         MBA in Finance, St. Mary's University, Canada

·         Ph.D in Finance, University of Macau, Macao SAR, China

 

Related Work Experience

 

·         Associate Professor, Faculty of Business Administration, University of Macau (April 2004 - present)

·         Head of Department of Finance and Business Economics (Sept. 2006 - Aug. 2009)

·         Coordinator of Finance (Sept. 2004 - Aug. 2006)

·         Assistant Professor, Faculty of Business Administration, University of Macau (July 1998 - April 2004)

·         Lecturer, Faculty of Business Administration, University of Macau (Sept. 1992 - July 1998)

 

Teaching

 

UndergraduateCourses

·         Financial Research Methods I (FINC362)

·         Financial Research Methods II (FINC461)

·         Capital Market Theories (FINC400)

·         Portfolio Management (FINC411)

·         Financial Management I (FINC300)

·         Financial Management II (FINC301)

·         Financial Management (FINC210)

·         Advanced Financial Management (FINC211)

 

MBA Courses

·         Research Methods (IMBB106)

·         Investments and Portfolio Management (IMBB131)

·         Theory of Finance (MFIN604)

 

Research Interests

 

·         Asset Pricing Models

·         Stock Market Trading Strategies

·         Market Efficiency

·         Behavioral Finance

 

Grants and Awards

 

1.      "Growth option and fundamental determinants on equity beta", funded by the Research Committee of University of Macau, 2009-2011, Principal Investigator.

2.      "Controlling Ownership, Adverse Selection and Equity Offering Method Choice", funded by the Research Committee of University of Macau, 2006-2007, Principal Investigator.

 

Publications

 

Journals, Books and Book Chapters

1.            Zhou Qiao and Keith S.K. Lam, 2011, Granger Causal Relations among Greater China Stock Markets: A Nonlinear Perspective, Applied Financial Economics, iFirst, DOI:10.1080/09603107.2011.577007.

2.            Keith S.K. Lam,and H. K. Tam, 2011, Liquidity and asset pricing: Evidence from the Hong Kong stock market, Journal of Banking and Finance, 35, 2217-2230.

3.            William Cheung, Keith S.K. Lam and HangFai Yeung, 2011, Intertemporal Profitability and the Stability of Technical Analysis: Evidences from the Hong Kong Stock Exchange, Applied Economics, Vol. 43, Issue15, 1945 - 1963.

4.            Keith S.K. Lam, Simon M. S. So and Frank K. Li, 2010, On the Validity of the Augmented Fama-French (1993) Four-Factor Asset Pricing Model: Evidence from the Hong Kong Stock Market, Review of Quantitative Finance and Accounting, 35, 89-111.

5.            Keith S.K. Lam and Frank K. Li, 2008, The risk premiums of the four-factor asset pricing model in the Hong Kong Stock Market, Applied Financial Economics, Vol. 18, Issue 20, p. 1667 - 1680.

6.            Keith S.K. Lam, 2004, The Foreign Exchange Market, in Simon S. M. Ho, Robert Haney Scott, and Kie Ann Wong (eds.), The Hong Kong Financial System A New Age, Oxford University Press.

7.            Keith S.K. Lam, 2002, The Relationship between size, book-to-market equity ratio, earnings-price ratio, and return for the Hong Kong Stock Market, Global Finance Journal, Vol. 13, No. 2, p. 163-179.

8.            Keith S.K. Lam, December 2001, The Condition Relation between Beta and Returns in the Hong Kong Stock Market, Applied Financial Economics, 11, p. 669-680.

9.            S.S. Chan and Keith S.K. Lam, 2000, Macau: An Emerging Offshore Banking Centre, in S. S. Chan (eds.), Leading Issues of the Macau Economy, Macau Foundation

10.        Keith S.K. Lam, June 1999, Some evidence on the distribution of beta in Hong Kong, Applied Financial Economics, 9, p. 251-262.

11.        Keith S.K. Lam, Benjamin Wong and Robert H. Terpstra, June 1996, Overreaction: A Study Of The Hong Kong Stock Market, New Zealand Journal of Business, Special Issue: Trade & Investment in Asia, Vol. 18 No. 1, p.13-27

 

Conference Papers

1.            Keith S.K. Lam, Adrian C.H. Lei and Martin H.Y. Yick, October 2010, Does tax convexity matters for risk? A dynamic study on tax asymmetry and equity beta, Proceedings of the FMA 2010 Annual Meeting (New York City, USA).

2.            Zhuo Qiao and Keith S.K. Lam, December 2009, Do Information Transmissions between Stock Markets of the Greater China Become Stronger? Evidence from Nonlinear Granger Causality Test, Proceedings of the 22nd Australasian Finance and Banking Conference (Sydney, Australia).

3.            Keith S.K. Lam, Adrian C.H. Lei and Martin H.Y. Yick, June-July 2009, Tax Asymmetry and Equity Beta, Proceedings of the AsianFA International Conference 2009 (Brisbane, Australia).

4.            Keith S.K. Lam, M. H. Liu and N. K. Rangan, June-July 2009, Trading restrictions and the Chinese Warrant Bubble, Proceedings of the AsianFA International Conference 2009 (Brisbane, Australia).

5.            Lewis H. K. Tam, W. Cheung and Keith S. K. Lam, April-May 2009, Government Ownership and Agency Problems in Equity Offerings in China, Proceedings of the 2009 Eastern Financial Association (Washington D.C., USA)

6.            Keith S.K. Lam, Simon M.S.So, & Frank K. Li, July 2008, Are Fama-French and Momentum Factors Priced?. Proceedings of the AIB 2008 Milan Conference (Milan, Italy).

7.            Keith S. K. Lam, H. F. Yeung and W. Cheung, December 2007, The profitability of simple technical trading strategies: the case of Hong Kong. Proceedings of the 20th Australasian Finance and Banking Conference (Sydney, Australia).

8.            Lewis H. K. Tam, W. Cheung and Keith S. K. Lam, October 2007, Ownership Concentration, Adverse Selection and Equity Offering Choice, Proceedings of the 2007 Annual Meeting of the Financial Management Association International (Orlando, Florida, USA).

9.            Keith S. K. Lam and Frank K. Li, December 2006, A Four Factor Model of Stock Market Returns: Testing Corporate Decisions. Proceedings of the 4th Biennial Conference of the Hong Kong Economics Association (Hong Kong).

10.        Keith S. K. Lam and Frank K. Li, June 2006, The risk premium of the four factor asset pricing model in the Hong Kong Stock Market. Proceedings of the Journal of Banking and Finance 30th Anniversary Conference (Beijing, China).

11.        Keith S. K. Lam and Miguel Leong, December 2003, The profitable technical trading strategies in Hong Kong stock market. Proceedings of the 16th Australasian Finance & Banking Conference (Australia).

 

Working Papers and Other Publications

1.            William Cheung, Keith S.K. Lam, and Lewis H.K.Tam, Government Ownership and Agency Problems in Equity Offerings in China, Faculty of Business Administration, University of Macau. (Working paper)

2.            Keith S.K. Lam, Adrian C.H. Lei and Martin H.Y. Yick, Tax Asymmetry and Equity Beta, Faculty of Business Administration, University of Macau and Lingnan University. (Working paper)

 

Professional Society Memberships

 

·            Financial Management Association (FMA), 2009 - present

 

Faculty of Business Administration

University of Macau