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FACULTY

HKUST Business School Faculty Team

PROFESSOR BRUNO SOLNIK

is Professor of Finance at HKUST in Hong Kong. He is also Distinguished Emeritus Professor of Finance at HEC Paris, ranked No. 1 business school in Europe by the Financial Times. He holds an Engineer degree from Polytechnique in Paris and a PhD from MIT. He was on the faculty of the Stanford Business School before joining HEC. He has been a visiting professor at the University of California at Berkeley, UCLA, Université de Genève, University of New South Wales and Todai (University of Tokyo).

 

He is a former President of the European Finance Association and Director of the American Finance Association. He has written seven books, five in France and two in the USA, including Global Investments, the leading textbook in the field formerly titled International Investments, and translated into Spanish, Japanese and Chinese. The sixth edition of Global Investments, coauthored by Dennis McLeavey of the CFA Institute, is used for all three levels of the CFA examination.  He has published some fifty articles in leading finance and economics journals such as the Journal of Finance, the Financial Analysts Journal, Journal of Financial and Quantitative Analysis, Journal of Economic Theory, Journal of International Money and Finance, etc. He also serves on the board of editors of several major Finance journals in America, Europe and Asia.

 

Professor Solnik has served on the Council for Education and Research of the CFA Institute and on its Research Foundation. He has received many prizes, including two Graham & Dodd Awards for Excellence by the Financial Analysts Journal, the "Finance Award of the Year" at the 1998 Interlaken Finance Symposium, and the Nicholas Molodovsky Award, presented by the CFA Institute Board of Governors on May 22, 1999. "This award is given periodically only to those individuals who have made outstanding contributions of such significance as to change the direction of the profession and to raise it to higher standards of accomplishment".

 

He is a Knight in the Order of the Legion of Honor.

 

Professor Solnik is a frequent keynote speaker to professional conferences organized by institutional investors, asset managers and consultants. His expertise has been called upon by many pension funds, foundations and central banks, in Europe, the USA and Asia, to assist them in structuring their asset management efforts. Among others, he advised the pension plans of Royal Dutch/Shell and Calsters, and the Nobel Foundation. He has also advised numerous asset management companies worldwide. From 1999 to 2004, he sat on the investment committee of UBS Global Asset Management, the institutional asset management arm of the UBS Group.

 

Since 2004, he is one of the four members of the Investment Management Advisory Council of Zurich Insurance Group, a major global insurer managing a portfolio over US$200 billion.  He is investment advisor to EDF, a large European utility firm. He serves, or has served, on the board of directors of listed companies (bank, asset manager and security firm), mutual funds, exchange traded funds and hedge funds.

 

He acted as an expert witness in several cases. In particular he acted as a financial valuation witness in a couple of international arbitrage cases resulting in a successful US$850 million award.

PROFESSOR SUDIPTO DASGUPTA

is Chair Professor of Finance and Director of the Centre for Asian Financial Markets at HKUST. Professor Dasgupta received his Master of Arts in Economic Theory from the University of Calcutta and his Doctor of Philosophy in Finance from University of Southern California. He taught at the University of Southern California and visited at Gothenburg University in Sweden before joining HKUST in 1993.

Professor Dasgupta has published in leading journals on economics and finance such as the Journal of Finance, Journal of Financial Intermediation, Journal of Corporate Finance, Journal of Economic Theory, Journal of Economics and Management Strategy, etc. His research areas are in game theory and industrial organization, bidding for procurement contracts, the economics of joint ventures, firms' investment and financial policies, takeovers and the market for corporate control.

PROFESSOR VIDHAN GOYAL

is Professor of Finance at HKUST. He received his Master in Business Administration from the University of Delhi and a Doctor of Philosophy in Finance from the University of Pittsburgh where he was a Research Fellow at the ‘Center for the Study of Contracts and the Structure of Enterprise’.

Professor Goyal’s research interests are in empirical corporate finance, with an emphasis on capital structure and corporate governance. His research papers have been published in the Journal of Finance, Journal of Financial Economics, Journal of Business, Journal of Financial Intermediation, Finance Research Letters, Journal of Corporate Finance and the Pacific Basin Finance Journal. He has extensive teaching experience and won numerous teaching awards including the Michael G. Gale Gold Medal for Distinguished teaching, the Franklin Prize for teaching excellence and the best MBA core teacher award.

PROFESSOR MARK SEASHOLES

is Professor of Finance at HKUST. He received his Bachelor of Arts from Wesleyan University where he graduated with high honors in physics, Phi Beta Kappa, and University Honors (the university’s highest award). University Honors was awarded to 5 of 650 graduates in his year. Professor Seasholes received his Master of Arts and Doctor of Philosophy degrees in Business Economics from Harvard University. He taught at the University of California, Berkeley Haas School from 2000 to 2007 where he won teaching awards in three programs: Daytime MBA, Undergrad Program, and Berkeley-Columbia Executive MBA, and has visited at Northwestern-Kellogg, INSEAD, and worked at Santa Clara University.

Professor Seasholes conducts research in the field of financial economics. His research focuses on trading behavior and asset prices around the world. He has written on cross-border equity investments, herding behavior of individual investors, and loss aversion. Current work focuses on liquidity and asset pricing. One project looks at the systematic liquidity demands of individual investors. A second project studies NYSE specialist inventories (a measure of liquidity provided to the market). Professor Seasholes worked for a number of years on Wall Street and in the emerging markets of East / Central Europe. He was one of the first equity analysts in post-communist Poland, completed a valuation project in Honduras and helped with the Lloyds of London restructuring, in addition to having given a series of lectures in the People’s Republic of China. Professor Seasholes’ work includes work with State Street Bank and Trust and their portfolio flow indices.

PROFESSOR DANYANG XIE

is Professor of Economics at HKUST. Professor Xie received his Ph.D. in Economics from the University of Chicago in 1992. He started an academic career in 1991 at the University of Montreal. He joined HKUST in July 1993. He has been teaching Macroeconomics at all levels and China in the Global Economy for the MBAs and EMBAs. His research interest includes endogenous growth, fiscal policy, and money and banking. While serving at the International Monetary Fund as Economist and Senior Economist during 2000-2004, he taught finance-related courses to government officials worldwide. He returned to HKUST in July 2004 and served as Department Head between April 2007 and June 2010.

Professor Xie has publications in top Journals in Economics, including Journal of Political Economy, Review of Economic Studies, Journal of Economic Theory, Journal of Monetary Economics, and International Economic Review. He is the co-editor of Annals of Economics and Finance and is a member of the Editorial Advisory Council of Pacific Economic Review.