Photo Dr. TAM, Hon Keung, Lewis Room: PLG410
Assistant Professor of Finance Telephone: (853) 8397- 8870

Faculty of Business Administration

Email: lewistam@umac.mo

University of Macau
Avenida Padre Tomas Pereira, Taipa, Macau, China

Personal Homepage:
http://www.umac.mo/fba/staff/lewistam.html
Academic Qualifications

 
  • Ph.D. in Finance, Hong Kong University of Science and Technology , Hong Kong, 2004
 
  • B.B.A. in Finance, Hong Kong University of Science and Technology , Hong Kong, 1997

Teaching

Undergradudate Courses
  • Financial Management I (FINC300)
  • Financial Management II (FINC301)
  • Theory of Finance (FINC361)
  • Mergers and Acquisitions (FINC481)

  Graduate Courses
  • Corporate Finance (MFIN602)
  • Theory of Finance (MFIN604)

Research Interests
 
  • Corporate Finance
  • Corporate Investments
  • Capital Structure Decisions
  • Mergers & Acquisitions
  • Asset Pricing

Grants and Awards
 
  1. "On Costs and Benefits of Alternative Flotation Methods in China", funded by the Research Committee of University of Macau, 2006-2007, Co-investigator
  2. "Financing and Market Activity", funded by Hong Kong RGC research grant, 2007, Co-investigator
  3. "Legal System and Market Timing Effect on Capital Structure: An International Experience", funded by the Research Committee of University of Macau, 2008, Principal Investigator
  4. "Information Asymmetry and Equity Carve-outs", funded by the Research Committee of University of Macau, 2010, Principal Investigator
  5. "Corporate Environmental Performance and Corporate Finance Policies?", funded by the Research Committee of University of Macau, 2011, Principal Investigator
  6. The 2011 UM Academic Staff Award
  7. The SWFA Best Paper in Investments Award at the annual meeting of Southwestern Finance Association Annual Meeting at Oklahoma, U.S.A., 2009.
  8. The GTA Best Paper Award at the Asian FA Annual Conference in Macau, 2011.
  9. The third place of the Best Paper Award at the 19th Conference on the Theories and Practices of Securities and Financial Markets in Kaohsiung, Taiwan, 2011.


Journal Papers, Books and Book Chapters
 
  1. Chang, X., Tam, L.H.K., Tan, T.J. and Wong, G., 2007. "The Real Impact of Stock Market Mispricing - Evidence from Australia", Pacific-Basin Finance Journal, 15, 388-408.
  2. Chang, X., Lin, S.H., Tam, L.H.K. and Wong, G., 2010. "The Cross-Sectional Determinants of Post-IPO Stock Performance: Evidence from China", Accounting and Finance, 50, 581-603.
  3. Chang, X., Hilary, G., Shih, C.M. and Tam, L.H.K., 2010. "Conglomerate Structure and Capital Market Timing", Financial Management, 39, 1307-1338.
  4. Lam, K.S.K. and Tam, L.H.K., 2011. "Liquidity and Asset Pricing: Evidence from the Hong Kong Stock Market", Journal of Banking and Finance, 35, 2217-2230.
  5. Cheung, W., Lam, K.S.K. and Tam, L.H.K., 2011. "Blockholding and Market Reactions to Equity Offerings in China", Pacific-Basin Finance Journal, forthcoming.

Conference Papers
 
  1. "Prior Relationship, Information Leakage and the Choice of M&A Advisors", with Xin Chang, Chander Shekhar and Jiaquan Yao, presented in EFMA (2007), and CICF (2007), the FMA Asian (2009), and the AsianFA (2009), the SFM Conference (2011).
  2. "Does Market Microstructure Matter for Corporate Finance? Theory and Evidence on Seasoned Equity Offering Decisions", with William Cheung and Scott Fung, presented in the SWFA (2009), and the FMA (2009).
  3. "Investor Characteristics, Relationships and IPO Allocations", with Vidhan K. Goyal, presented in the AsianFA (2009), the FMA Asian (2010), the CICF (2010).
  4. "Information Sharing in IPOs", with Vidhan K. Goyal, presented in the FMA (2006), and the SFM Conference (2006).
  5. "Transaction Costs, Information Asymmetry, and Capital-Structure Decisions: Evidence from International Comparisons", with Yufei Li, presented in the GFC (2011), the CICF (2011), the AsianFA (2011).
  6. "Parent's Listing Status and Subsidiary's Financial Constraints: The Case of Equity Carve-Outs", presented in the SFM Conference (2010).
  7. "Corporate Environmental Performance: Determinants and Financial Impacts", presented in the WBEF (2010).

Working Papers and Other Publications
 
  1. "Predictions or Reactions: A Study of Institutional Investments around Seasoned equity Offerings", with Xin Chang.
  2. "What Factors Influence the Reverse Cross-listing Decision?", with Hungwan Kot.


Professional Society Membership
 
  • Financial Management Association
 
  • Charterholder member of Chartered Financial Analyst Institute
 
  • Regular member of the Hong Kong Society of Financial Analysts

Faculty of Business Administration
University of Macau