• Ph.D. in International Finance and International Business, the Ohio State University, USA
• M.B.A. in Finance and minor in Management, Western Illinois University, USA
• BS(eqv.) Major in Management and minor in Accounting, Hong Kong Baptist College, Hong Kong
• Certificate in Management Development Program, Harvard University, USA
Teaching and Research Appointments
• Chair-Professor of Finance, Faculty of Business Administration, University of Macau. (2010 to present)
• BBVA-Compass Bank Distinguished Professor of Finance, Texas A&M International University (2004 to 2009).
• Professor of Finance, Southern Illinois University-Edwardsville (1993 - 2004).
• Visiting Scholar, Federal Reserve Bank of St. Louis (Spring, 2003).
• Visiting Professor of Finance, City University of Hong Kong (Summer, 1998).
• Associate Professor of Finance (tenured), Southern Illinois University-Edwardsville (1988-1993).
• Visiting Scholar and Consultant, Federal Reserve Bank of Chicago (Summer, 1992).
• Assistant Professor of Finance, Southern Illinois University-Edwardsville (1983-1988).
• Teaching and Research Assistant, Ohio State University (1980-82).
• Assistant Lecturer, Hong Kong Baptist College (1979).
Honors and Professional Distinctions
• BBVA- Compass Bank Distinguished Professor in International Finance- Texas A&M International University (2006 to 2009).
• Asian Pacific American Heritage Award- U.S. Customs and Border Protection (2008).
• Distinguished Alumnus- Hong Kong Baptist University (2006).
• Honorable Recognition- Dissertation Competition of the Academy of Int’l Business (1983).
• Founding Member- Society of Chinese American Professionals and Scholars (2005 to present).
University of Macau Committees
• The University Affairs Coordination Committee
• The University Senate
• The General Affairs Committee
• FBA's Advisory Board
• Academic Committee (Faculty)
Community / Public Service
Community and Professional Boards
• Small Business Development Center Network Advisory Board: University of Texas- San Antonio.
• Laredo Development Foundation Board of Directors.
• Academy of Entrepreneurial Finance Advisory Board.
• Journal of Global Finance Editorial Board.
• North American Journal of Economics and Finance Advisory Board.
• Journal of International Business Editorial Board.
• Research in Quantitative Finance and Business Management Editorial Board (National University of Singapore).
• Journal of Financial and Risk Management Editorial Board (National University of Singapore).
• Frequent speaker at various clubs- local and state- on issues related to higher education, business education, economic development, and globalization, especially economics or political issues related to China and Mexico.
• Appearance on several television shows.
• Emcee at many community events.
• Interviewed by Laredo Morning Times in Laredo, Texas, as well as several newspapers in southern Illinois and St. Louis, Missouri.
1. "The Behavior of Foreign Exchange Rates: Risk Measurement and Week Day Effect – A Comment." The Journal of Finance, Vol. LXII, March 1987, pp.181 188.*
2. “The Sub Gaussian Distribution of Foreign Exchange Futures: Stable Paretian or Non-stationary?" The Review of Economics and Statistics,Vol.LXIX, No.1, February, 1987, pp. 100 107.*
3. Abstract of paper also appears in the Journal of Economics and Literature September 1987, Vol. XXV, No. 3, pp. 1693.
4. "Commodity Risk Premium and Unstable Systematic Risk," the Journal of Futures Markets, Vol. 7, No. 3, June 1987, pp. 311 26.*
5. "Resources Allocation in Light of a Stochastic Stream of Opportunities," the Applied Mathematical Modeling, Vol. 11, October,1987, pp.384 87. With D.Aucamp and E. Walter.
6. "Outliers and the Distribution of Financial Ratios," the Journal of Business Finance and Accounting 14, Vol. 4, Winter 1987, pp.483 96.*
7. "The Behavior of Foreign Exchange Rates A Comment." The Journal of International Business Studies, Vol. XVII, No. 3, Fall 1986, pp. 165 175.
8. "Variability Measurements and Choice of Foreign Exchange Rate System: Asian Versus Industrialized Countries," International Economic Journal, Vol. 5, Winter, 1991, pp.43-61.
9. "Variability and Inflation Rates." Journal of Macroeconomics, Vol. 15, Fall 1993, pp.679-708. Co-author: Radcliffe Edmonds.
10. "A Conservative Decision Rule For Investments Under Uncertainty," Research in Finance, Vol. 9, Spring, 1994, pp.215-223. Co author: D. Aucamp.
11. "The Distribution of Financial Ratios," Journal of Accounting, Auditing and Finance, Vol.9, Spring 1994, pp.215-223.*
12. "The Speculative Behavior of Commercial Banks and Foreign Exchange Rates An Empirical Analysis." Research in International Business and Finance, Vol. 11A, 1994, pp.107-130.
13. "International Loans and The Risk-Return Behavior of U.S. Multinational Banks,” Global Finance Journal, Vol. 6, No.2, Fall 1995, pp.135-154. Co-author: Richard Nyerges.
14. “Equity Beta and Growth: A Comparison of the Inc. 100 and Fortune 500.” American Business Review, vol. XIII, No. 1, Jan 1995, pp. 75-84. Co-authors: F.C. Neil Myer, Richard Nyerges.
15. “Insolvency, Foreign-Branch Deposits, and Option-Based Risk-Adjusted Deposit Insurance in the 1980s,” Research in Finance, Vol. 14, 1996, pp. 175-195. Co-author: Andrew Chen.
16. “Forbearance, Deposit Insurance and the Market Value of Savings and Loan Associations.” Advances in Financial Planning and Forecasting. Vol. 8, 177- 200, 1998.
17. “Risk-Taking, Agency Problem, and Small Business Loan Guarantee- An Application of Option Pricing Theory.” Journal of Entrepreneurial Finance, Vol. 6, No. 1, 2001, 24-43. Coauthors: R. Bharati and S. Crain.
18. “Is Exchange rate Volatility Excessive? An ARCH and AR Approach.” The Quarterly Review of Economics and Finance. Co-author: R. Edmonds. 2002.
19. “Deposit Insurance and Forbearances Under Moral Hazard.” The Journal of Risk and Insurance, vol. 71, Dec. 2004, pp. 707-735. Co-author: Jason Z. Wei.*
20. “Dynamic Gap Transformations: Are Banks Asset-Transformers or Brokers? Or Both?” The Quarterly Review of Economics and Finance, Vol. 46, pp. 36-52, 2006. Co-authors: Rakesh Bharati and Prasad Nanisetty.
*These studies are referenced by more than twenty articles appeared in high quality international journals and books.
1. International Financial Management, by Jeff Madura. West Publishing Company.
2. International Financial Markets, by John Evans. West Publishing Company.
3. Speculative Markets, by Alan Tucker. West Publishing Company, 1989.
4. Sharing World Leadership? A New Era for America & Japan, edited by John H.
5. Makin and Donald C. Hellmann. American Enterprise Institute for Public
6. Policy Research. Washington, D.C.
7. Corporate Finance, by Aswath Damodaran, chapters 16-23, John Wiley and Sons.
8. Performing Financial Studies- A Methodological Cookbook, by Michael J. Seiler. Prentice Hall, 2004.