Po-Hsuan (Paul) Hsu is currently a professor of finance in University of Hong Kong. He received his Ph.D. degree in finance from the Graduate School of Business, Columbia University. He also holds a master degree in management of technology from National Chiao-Tung University and a bachelor degree in international business from National Taiwan University. He has also been a fellow of Batten Institute of Darden School of Business, University of Virginia. Prior to joining the University of Hong Kong, he was an assistant professor of finance at the School of Business, University of Connecticut.
His research agenda focuses on the role of technological innovation in financial markets. He has organized several conferences in innovation and finance, including the AIEA-NBER Conference, Darden-Cambridge Judge-HKU FBE Entrepreneurship and Innovation Research Conference, HKU Symposium on Innovation Strategy and Entrepreneurial Finance, and Hong Kong joint Finance Research Workshop. He has also served as a panelist/mentor for the Junior Faculty Consortium in Academy of Management Conference (Technology and Innovation Management Division). His research has been published in or accepted by several academic journals including Review of Economics and Statistics, Journal of Financial Economics, Review of Financial Studies, Journal of International Economics, Journal of Financial and Quantitative Analysis, Contemporary Accounting Research, Financial Management, Journal of Empirical Finance, Journal of Corporate Finance, Journal of Financial Econometrics, Journal of Applied Corporate Finance, and Quantitative Finance. His conference papers have been selected into Academy of Management Best Paper Proceedings. He also won the best paper awards at FMA Annual Meeting and NTU IEFA Conference.
He has taught spreadsheet modelling in finance, derivatives, and financial management for bachelor- and master-level courses and empirical asset pricing for Ph.D.-level courses.
- Asset pricing
- Financial econometrics
- Technology management
- Ph.D., Columbia University
- M.B.A., National Chiao-Tung University
- B.B.A., National Taiwan University
- "Natural disasters, technology diversity, and operating performance,"
(with Hsiao-Hui Lee, Shu-Cing Peng, and Long Yi), Review of Economics and Statistics, forthcoming, 2017.
- "Innovative originality, profitability, and stock returns,"
(with David Hirshleifer and Dongmei Li), Review of Financial Studies, forthcoming, 2017.
- "Innovation strategy of private firms,"
(with Huasheng Gao and Kai Li), Journal of Financial and Quantitative Analysis, forthcoming, 2017.
- "The real effects of real earnings management: Evidence from innovation",
(with Frederick Bereskin and Wendy Rotenberg), Contemporary Accounting Research, forthcoming, 2017.
- "What affects innovation more: Policy or policy uncertainty?"
(with Utpal Bhattacharya, Xuan Tian, and Yan Xu), Journal of Financial and Quantitative Analysis, 52 (5), 1869-1901, 2017.
- “Technical analysis: Is it still beating the foreign exchange market?”
(with Mark P. Taylor and Zigan Wang), Journal of International Economics 102, pp. 188-208, 2016.
- “Corporate philanthropy and innovation: The case of the pharmaceutical industry,”
(with Frederick Bereskin), Journal of Applied Corporate Finance 28 (2), pp. 80-86, 2016.
- “Be nice to your innovators: Employee treatment and corporate innovation performance,”
(with Chen Chen, Yangyang Chen, and Edward J. Podolski), Journal of Corporate Finance, 39, pp. 78-98, 2016.
- “Corporate philanthropy, research networks, and collaborative innovation,”
(with Frederick Bereskin and Terry L. Campbell), Financial Management, 45 (1), pp. 175-206, 2016.
- “Corporate innovation, default risk, and bond pricing,”
(with Hsiao-Hui Lee, Alfred Zhu Liu, and Zhipeng Zhang), Journal of Corporate Finance, 35, pp. 329-344, 2015.
- “Corporate innovation and inventory turnover,”
(with Hsiao-Hui Lee and Jianer Zhou), Decision Support Systems, 76, pp. 35-44, 2015.
- “Financial development and innovation: Cross-country evidence,”
(with Xuan Tian and Yan Xu), Journal of Financial Economics, 112 (1), pp. 116-135, 2014.
- “Innovative efficiency and stock returns,”
(with David Hirshleifer and Dongmei Li), Journal of Financial Economics, 107 (3), pp. 632-654, 2013.
- “Innovations, intellectual property protection, and financial markets: Cross-province evidence from China,”
(with Chong Wang and Chaopeng Wu), Journal of Business Research, 66 (12), pp. 2390-2396, 2013.
- “Innovate to survive: The effect of technology competition on corporate bankruptcy,”
(with Assaf Eisdorfer), Financial Management, 40 (4), pp. 1087-1117, 2011.
- “The use of Bayes factors to compare interest rate term structure models,”
(with W. Keener Hughen and Carmelo Giaccotto), Quantitative Finance, 13 (3), pp. 369-381, 2011.
- “Technology prospects and the cross-section of stock returns,”
(with Dayong Huang), Journal of Empirical Finance, 17 (1), pp. 39-53, 2010.
- “Testing the predictive ability of technical analysis using a new stepwise test without data snooping bias,”
(with Yu-Chin Hsu and Chung-Ming Kuan), Journal of Empirical Finance, 17 (3), pp. 471-484, 2010.
- “Technological innovations and aggregate risk premiums,”
Journal of Financial Economics, 94 (2), pp. 264-279, 2009.
- “Reexamining the profitability of technical analysis with data snooping checks,”
(with Chung-Ming Kuan), Journal of Financial Econometrics, 3 (4), pp. 606-628, 2005.