Venue

Hong Kong Shue Yan University

Braemar Hill Campus

Address: 10 Wai Tsui Crescent, Braemar Hill, North Point, Hong Kong
Tel: +852 25707110

Research Complex, RLB303

Direction

Kowloon Motor Bus (KMB)

Buses depart to and from Braemar Hill at:

  • 108 Kai Yip Bus Terminus
Citybus/New World First Bus

Buses depart to and from Braemar Hill at:

  • 23B Park Road / Robinson Road
  • 25 Central (Pier 5)
  • 25A Wan Chai (HKCEC Extension)
  • 27 North Point Ferry Pier
  • 85 Siu Sai Wan (Island Resort)
Public Light Buses (Green Mini-buses)

Buses depart to and from Braemar Hill at:

  • 25 Causeway Bay MTR Station
  • 49M Tin Hau MTR Station

Keynote speaker

Professor Wing-Keung WONG

Chair Professor of Finance, Department of Finance, Fintech Center, and Big Data Research Center, Asia University, Taiwan.

Prof Wong has published more than two hundred papers and is in the list of top economists of RePEc and Asian economists. He has more than five thousand citations in Google scholar, around three thousand citations in ResearchGate, more than one thousand citations in Mendeley and more than six hundred citations in Web of Science. He also ranked in the top 1% by Social Science Research Network in 2017 by both downloads and citations. Citation: 6741 (3734 since 2014), h-index: 46, (32 since 2014) and i10-index: 143, (117 since 2014) by Google Scholar citation.  His research interests include financial economics, econometrics, mathematical finance and economics, investment theory, risk management, behavioral finance and economics, operational research, stochastic dominance theory, time series analysis, Bayesian theory and decision theory.

Keynote Talk

Are the Combinations of Health Care sector and T-Bill one of the best choices for investment?

Health care sector plays an increasingly important role in the stock market because it is growing nearly in the entire period and has low correlation with the business cycle. On the other hand, T-Bill is also an important asset in investment because it has positive return and small variance. In this paper, we employ the mean-variance (MV) rules and stochastic dominance (SD) approach to investigate the portfolio performance with and without both health care sector and T-Bill in the US over the period from September 1986 to May 2017. The results show that all the portfolios with health care asset and 6-M TB significantly dominate the corresponding portfolios without health care and 6-M TB, regardless whether a short sale is allowed. This study also concludes that the combinations of health care sector and 6-M TB not only reduce risk but also gain better return and all risk-averse investors prefer to invest in portfolios with health care sector and 6-M TB, regardless whether they buy long or sell short the market.

By employing the mean-variance (MV) rules and stochastic dominance (SD) approach, this paper investigates the portfolio performance with and without both health care sector and T-Bill in the U.S. market over the period from September 1986 to May 2017. The results show that all the portfolios with health care asset and 6-m TB significantly dominate the corresponding portfolios without health care and 6-m TB, regardless whether a short sale is allowed. This study also concludes that the combinations of health care sector and 6-m TB not only reduce risk but also gain better return; all risk-averse investors prefer to invest in portfolios with health care sector and 6-m TB, regardless whether they buy long or sell short the market.

Conference committee

Conference Advisory Committee

Prof. YU Fu Lai, Tony (Head of Economics and Finance, SYU)

Dr. LEE Shu Kam (Assoc. Head of Economics and Finance, SYU)

Dr. CHEN Toro Tao (University of Macau)

Conference Organizing Committee

Dr. YUEN Wai Kee, Thomas (PI)

Dr. WOO Kai Yin (Co-PI)

Dr. TANG Chi Ho, Edward (Co-PI)

Ms. CHAK Suet Ching (SYU)

Ms. CHU Wan Ling (SYU)

We would like to thank the Research Grants Council of the Hong Kong Special Administrative Region, China for supporting this conference under the INTER-INSTITUTIONAL DEVELOPMENT SCHEME (IIDS). This conference is fully supported by a grant from the Research Grants Council of the Hong Kong Special Administrative Region, China (Project no. UGC/IIDS15/B02/18)

Autometrics

I would like to express my appreciation to Dr. Jurgen DOORNIK (University of Oxford) for providing a seminar on Automatic Selection of Multivariate Dynamic Econometric Modelsand a workshop on  Automatic Model Selection with Applications.

Thanks Dr. Jurgen DOORNIK for his contribution to the “IIDS Project – Recent Developments in Theoretical and Applied Econometrics Analysis”. We are looking forward to our research collaborations in the future.

PI Website: https://thomasyuenwaikee.wordpress.com/2019/07/31/appreciation-to-dr-jurgen-doornik/