LEUNG Raymond C. W.

Raymond C. W. Leung is an Assistant Professor of Finance at the Cheung Kong Graduate School of Business. He received his Ph.D. from the University of California, Berkeley, Haas School of Business.

Areas of Expertise

Delegated Portfolio Management, Asset Pricing Theory, Corporate Finance Theory, Financial Markets and Institutions, Continuous-Time Principal-Agent Problems

Education

University of California, Berkeley, Berkeley, CA, USA

Haas School of Business

• Ph.D. in Finance, 2016
• M.S. in Finance, 2012
  Department of Statistics
• M.A. in Statistics, 2013

London School of Economics and Political Science, London, UK
Department of Economics

• M.Sc. in Econometrics and Mathematical Economics (with Distinction), 2010
• Graduate Diploma in Econometrics and Mathematical Economics (with Distinction), 2009

University of British Columbia, Vancouver, BC, Canada

Sauder School of Business

• B.Com. Double Major in Finance and Accounting (with Honours), 2008

Tsinghua University, Beijing, China

• Non-Credit Study Abroad (Mandarin Chinese), Fall 2007

Achievements

• Financial Management Association 2017 Annual Meeting, semi-finalist for best paper award in the”Investments” category
• Western Finance Association,”2015 Cubist Systematic Strategies Ph.D. Candidate Award for Outstanding Research”
• UC Berkeley, Haas School of Business, “The Carl F. Cheit Outstanding Graduate Student Instructor (Teaching Assistant) Award” for the Master of Financial Engineering program of 2014-2015
• UC Berkeley, Haas School of Business, Department Scholarship, 2010 – 2014
• UC Berkeley, Haas School of Business, White Research Fellowship, Fall 2013

Working Papers

• Asset Insurance Premium in the Cross-Section of Asset Synchronicity, March 2019
• A New Theory of Information Acquisition and Recovery: Intrinsic Geometry Approach with Asset Pricing Applications, June 2018
• Predicting new stocks’ future returns by portfolio mimicking error: An approach to identify innovative stocks (with Yu-Man Tam and Zigan Wang), November 2017
• Continuous-Time Principal-Agent Problem with Drift and Stochastic Volatility Control, September 2017
• Dynamic Contracts and the Sharpe Ratio: Theory and Evidence, June 2017
• Financial Intermediation and the Market Sharpe ratio: Theory and Evidence, November 2016
• Centralized versus Decentralized Delegated Portfolio Management under Moral Hazard, November 2015
• Dynamic Agency, Delegated Portfolio Management and Asset Pricing, October 2014
• Continuous-Time Principal-Agent Problem with Drift and Stochastic Volatility Control, with Applications to Corporate Finance and Delegated Portfolio Management, September 2014
• Asset Prices Jump-Spillover Estimation and Inference, December 2013 [Paper available upon request]