Faculty Members Directory

Biography

Dr. Cheng is the Dr. S H Ho Professor of Banking and Finance. He is also the Director of the Research Centre for ESG as well as the Research Institute for Business at the Hang Seng University of Hong Kong. He is a member of the Hospital Governing Committee of Ruttonjee & Tang Shiu Kin Hospitals (April 2023 – March 2024). He was a member of the Investment Committee of the Hospital Authority Provident Fund Scheme (2016-2022) in which he led the effort in promoting ESG integration for an investment portfolio exceeding USD 8 billion. Dr. Cheng actively engages in ESG and green finance research. In addition to publishing on Green Bond, he received various research donation and grants related to ESG and financial services for over USD 1 million.  He is also a coauthor of a book chapter titled “Fintech Unicorns” in The Palgrave Handbook of Fintech and Blockchain, 2021. Dr. Cheng is a member of the Business Studies Assessment Panel for Competitive Research Funding Schemes for the Local Self-financing Degree Sector under the Research Grants Council (RGC). He also served as a member of the Business Studies Panel (Joint Research Schemes) for the RGC, Solicitors Disciplinary Tribunal Panel, and University Council and Trustee Board of the Hong Kong Polytechnic University Pension Fund. He is currently a member of the Examination Board of The Institute of Financial Planners of Hong Kong (IFPHK). Dr. Cheng graduated with a DBA in Finance from Louisiana Tech University in 1989. He has been a CFP^CM certificant since 2001. Before joining Hang Seng University, he was Professor of Finance and Director of Economic Sustainability and Entrepreneurial finance at PolyU. From 1989 to 1998, he was an Assistant Professor and then Associate Professor at Murray State University in Kentucky. In 2003, he served as the HSBC Fellow at the University of Exeter in UK. Moreover. He has over 100 articles and books published including the Journal of Finance. Dr. Cheng is an author of Fundamentals of Financial Planning, and the lead author of Financial Planning and Wealth Management: An International Perspective, both by McGrawHill. Dr. Cheng served as a project consultant for various organizations including United Nations, Bank of China (HK) Private Banking, Investor Education Centre (IEC), Securities and Futures Commission (SFC), Mandatory Provident Fund Scheme Authority (MPFA), Value Partners, Agricultural Bank of China (HK) Private Banking, Bank Consortium Trust Hong Kong, Fubon Bank, Hong Kong Exchanges (HKEx), Charles Schwab (US), Tai Fook Securities, and Hong Kong Securities and Investment Institute (HKSI).  

Research and Teaching Interests

• Teaching: Wealth Management
• Research: ESG and Green Finance, Behavioral Finance, Mergers and Acquisitions, IPOs

Intellectual Contributions (Publications, Conferences, Books, Book Chapters, etc.)

Publications (Recent 3 years):

• “Stock Price Crash Risk and Firms’ Operating Leverage”, Xin Chang, Louis T.W. Cheng, Wing Chun Kwok, and George Wong, Journal of Financial Stability, 2023, forthcoming.
• Success begets success! Exploring the carry-over effects of total underwriting effort on post-IPO issuer firm outcomes”, Louis T.W. Cheng, Piyush Sharma, and Siyuan Yan, Journal of Business Research, vol. 163, Aug 2023, https://doi.org/10.1016/j.jbusres.2023.113928
• “Does corporate carbon performance converge in the global market? Evidence from a distribution dynamic approach”, Michal Wojewodzki, Tsun Se Cheong, Jianfu Shen, Louis T.W. Cheng, Journal of Environmental Management, vol 342, available online on June 2023, https://doi.org/10.1016/j.jenvman.2023.118355
• “Understanding Resource Deployment Efficiency for ESG and Financial Performance: a DEA Approach”, Louis T.W. Cheng, Shu Kam Lee, Sung Ko Li, and Chun Kei Tsang, Research in International Business and Finance. Vol. 65, April 2023, https://doi.org/10.1016/j.ribaf.2023.101941
• “A cross-country analysis of corporate carbon performance: An international investment perspective”, Louis T.W. Cheng, Jianfu Shen, and Michal Wojewodzki, Research in International Business and Finance, vol 64, January 2023, https://doi.org/10.1016/j.ribaf.2023.101888.
• “Interactive effects of brand reputation and ESG on green bond issues: A sustainable development perspective”, Louis T.W. Cheng, David Broadstock and Piyush Sharma, Business Strategy and The Environment, January 2023, pp. 570-586, https://doi.org/10.1002/bse.3161.
• “Does Supplier Concentration Matter to Investors During the COVID-19 Crisis: Evidence from China?”, Louis T.W. Cheng, Jack S. C. Poon, Shaolong Tang, and Jacqueline Wenjie Wang, Financial Innovation, 8(85), September 2022, https://doi.org/10.1186/s40854-022-00391-0.
• “Investor relations under short-selling pressure Evidence from strategic signaling by company site visits” Xiaoxu Ling, Siyuan, Yan, Louis T.W Cheng, Journal of Business Finance and Accounting, 2022.
• “The effects of Work-integrated Education and International Study Exchange experience on academic outcomes”, Louis T.W. Cheng,A. Armatas, and Jacqueline Wenjie Wang, Journal of Teaching in International Business, vol 31, 2021, pp.135-153.
• “Exploring the dark side of third-party certification effect in B2B relationships: A professional financial services perspective”, Louis T.W. Cheng, Piyush Sharma, Jianfu Shen and Allen C. C. Ng, Journal of Business Research, 127, April 2021, pp.123-136.
• “Equity ownership and corporate transparency: International evidence”, Louis T.W. Cheng and Jacqueline Wenjie Wang, International Review of Economics & Finance, March 2021, doi: https://doi.org/10.1016/j.iref.2021.03.005.
• “The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China”, Louis T.W. Cheng, David C. Broadstock, Kalok Chan and Xiaowei Wang, Finance Research Letters, 38, January 2021, 101716.
• “Impact of Political Connections on Chinese Export Firms’ Performance – Lessons for Other Emerging Markets”, Piyush Sharma, Louis T.W. Cheng and T.Y. Leung, Journal of Business Research, vol. 106, January 2020, pp.24-34.
• “The impact of diversity, prior academic achievement and goal orientation on learning performance in group capstone projects”, Louis T.W. Cheng, A. Armatas, and Jacqueline Wenjie Wang, Higher Education Research & Development, vol. 39 (5), 2020, pp.913-925.

Non-Refereed Publications (Selective):

• A book chapter titled “Fintech Unicorns” in The Palgrave Handbook of Fintech and Blockchain, co-authored with David Broadstock and Jack Poon, Palgrave Macmillan, Chapter 6, pp.109-170, 2021.
• A book chapter titled “Understanding Green Bond Challenges: A Stakeholders’ Perspective” Green Finance, Sustainable Development and The Belt and Road Initiative, co-authored with David Broadstock and Tiantian Wang, Routledge, 2020.
• Financial Management, 2ed, Louis Cheng, Pearson, 2015
• Basics of Personal Financial Management, 2ed, Louis Cheng, Pearson, 2014.
• Financial Planning and Wealth Management: An International Perspective, co-authored with Yan Leung and Y.H. Wong, McGraw-hill, 2009

Paper Presentations (Recent 3 years):

• “The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China”, Louis T.W. Cheng, David C. Broadstock, Kalok Chan, and Xiaowei Wang, PRI Academic Week, October 5, 2020 (online presentation).
• “Controlling Shareholder’s Stock Pledge, Agency Problem and Corporate Acquisitions.”, Siyuan Yan, Xiaoxu Ling, and Louis T.W. Cheng, AAA 2020 Annual Meeting, August 12, 2020 (online presentation).
• “Controlling Shareholder’s Stock Pledge, Agency Problem and Bad Acquisitions”, Siyuan Yan, Xiaoxu Ling, and Louis T.W. Cheng, AAA 2020 Mid-Atlantic Region Meeting, May 7, 2020 (online presentation).
• “Underwriter Efforts, Marketing Effects, and Financial Performance of Chinese IPOs”, Siyuan Yan and Louis T.W. Cheng accepted for presentation at American Marketing Association (AMA) Academic Winter Conference 2020, San Diego, USA, February 2020.

Research Grants and Awards

• Project coordinator, Innovation and Technology Fund, Funding: $1,212,600 (ITF Funding Sought $1,073,600 + Sponsorship $139,000), Title: Fostering Big Data Applications and Innovation to Reflect Corporate ESG Performance through Media and Social Listening, HSUHK, 2023 - 2024 June
• Team Leader, RGC Institutional Development Scheme (IDS) grant, Funding: $4,095,000, Title: Establishing a Research Infrastructure for ESG Intelligence: A Multi-Stakeholder Perspective, HSUHK, 2022-2024.
• PI, Donation grant from The S. H. Ho Foundation Ltd, Funding: $1,577,883, Title: Overcoming Challenges of Banking Services for the Next Decade: Sustainable Lending and Digital Banking, HSUHK, 2021-2023. Received UGC Marching Grant Scheme with amount $1,341,200.
• Faculty Award for Outstanding Performance (Teaching) in 2018/2019 at The Hong Kong Polytechnic University
• PI, CEDB PASS Grant, PT: $1,018,490, Title: Educating Accounting Professionals on How to Adopt Green Finance in Capital Projects, PolyU, 2019-2021

Business and Professional Engagement (including membership)

Highlights:

• Member of the Hospital Governing Committee of Ruttonjee & Tang Shiu Kin Hospitals, April 2023 – March 2024.
• Member of the Assessment Panel for Competitive Research Funding Schemes for the Local Self-financing Degree Sector (SF sector) under the Research Grants Council, March 2022 – February 2024.
• Member of the Investment Committee of the Hospital Authority Provident Fund Scheme, November 2016 - November 2022.
• Chairman of the Advisory Board of Hong Kong Investor Relations Association (HKIRA), 2016 – present.
• Member of the Examination Board of the Institute of Financial Planners of Hong Kong (IFPHK), 2006 – present.