Finance and Business Economics

The Finance and Business Economics (F&BE) Area is well-known for its research on topics in portfolio theory and management, energy economics, corporate finance, derivatives, capital markets and telecommunications, among other things. Faculty members’ research has appeared in leading journals such as the Journal of FinanceEconometricaReview of Economic StudiesReview of Economics and StatisticsJournal of Monetary EconomicsJournal of Financial EconomicsJournal of Economic TheoryJournal of Financial and Quantitative Analysis, and the Review of Financial Studies, among others.

Area members are also well-known for their award-winning teaching and contributions to pedagogical research. Offerings in finance are very extensive at both the undergraduate and graduate levels, with courses ranging from financial modelling to pension plan management to Islamic finance. At both the undergraduate and graduate levels the Area’s offering also support and prepare students for the Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP) designations. The area also encourages financial literacy across the university by making courses available to all undergraduate students on topics such as personal finance, financial management of health care organizations and entrepreneurial finance.

The area has been awarded a number of scholarly distinctions in recent years, including four academic chairs and two named professorships:

  • BMO Financial Group Chair in Capital Markets – Financial Literary and the Individual Investor
  • CIBC Chair in Financial Markets
  • Mackenzie Investments Chair in Evidence-Based Investment Management
  • Michael Lee Chin Family Chair in Investment and Portfolio Management
  • Michael Lee Chin Family Industry Professorship in Strategic Business Valuation
  • TSX Visiting Professorship

The Director of the Michael Lee Chin Institute for Strategic Business Studies and the Editor-in-Chief of the Energy Studies Review are also resident in the Finance and Business Economics Area.

Faculty

Ronald Balvers

RONALD BALVERS

Professor

Finance and Business Economics, DeGroote School of Business, McMaster University Michael Lee-Chin & Family Chair in Investment and Portfolio Management, Area of expertise is Asset Pricing and...

Trevor William Chamberlain

TREVOR WILLIAM CHAMBERLAIN

Professor

Current research interests include mergers, acquisitions and restructuring; business organization and corporate governance; business investment; capital structure and dividend policy. Recent...

Man-wah Luke Chan

MAN-WAH LUKE CHAN

Professor Emeritus

Dr. Luke Chan is Professor of Finance and Business Economics at McMaster’s School of Business. He is one of the pioneers in management education and management training in China. Due to his...

Narat Charupat

NARAT CHARUPAT

Professor

Professor Charupat has conducted research in the areas of financial innovation, security designs, annuity and insurance products, arbitrage relationship, commodity investment and behavioural...

Chun-sang-sherman Cheung

CHUN-SANG-SHERMAN CHEUNG

Professor

Professor Cheung specializes in investments and financial markets. His research has been published in the Journal of Finance, Journal of Banking and Finance, Decision Sciences, Financial Analysts...

Anna Danielova

ANNA DANIELOVA

Associate Dean

Dr. Anna Danielova is an instructor and researcher whose interests lie in the area of empirical corporate finance and corporate governance.

Richard Deaves

RICHARD DEAVES

Professor Emeritus

The focus of his latest research is the field of behavioural finance. He has also published on such issues as the performance of investment funds; asset market experiments; market efficiency;...

Clarence C Y Kwan

CLARENCE C Y KWAN

Professor

In 1979, Clarence C.Y. Kwan, P.Eng. (Ontario), joined the Degroote School of Business (then the Faculty of Business), as Assistant Professor of Finance. He became Associate Professor of Finance in...

Guoying Luo

GUOYING LUO

Professor

Guo Ying Luo is a Professor at DeGroote School of Business of McMaster University, Canada. Prior to joining McMaster University, She was a faculty at Rutgers Business School of Rutgers University,...

John Maheu

JOHN MAHEU

Professor

Specializes in the areas of Time-series Econometrics, Empirical Finance. Maheu is currently the BMO Financial Group Chair in Capital Markets – Financial Literacy and the Individual Investor.

Katya Malinova

KATYA MALINOVA

Associate Professor

Professor Malinova specializes in financial market microstructure and FinTech, with her empirical work focused on Canadian equity markets.

Peter Miu

PETER MIU

Professor

Dr. Peter Miu’s research is primarily in the areas of credit risk modelling, financial institutions, exchange-traded funds, regulatory capital requirement, empirical methods, and investments. ...

Dean Clarence Mountain

DEAN CLARENCE MOUNTAIN

Professor

Professor Mountain specializes in energy economics, applied econometrics and measurement of productivity and economies of scale in financial institutions. Current research interests include...

Jiaping Qiu

JIAPING QIU

Professor

Dr. Jiaping Qiu is a professor of finance and business economics at the DeGroote School of Business and holds the CIBC Chair in Financial Markets. His research interests are in corporate finance,...

Sudipto Sarkar

SUDIPTO SARKAR

Professor

Real options, corporate finance, agency problems, working capital management.

John Siam

JOHN SIAM

Associate Professor

Professor Siam is the Founding Director of the DeGroote Trading Centers (DTC) with a Joint Appointment: Associate Professor of Accounting & Financial Management Services and Associate...

Yan Wang

YAN WANG

Assistant Professor

Dr. Yan Wang received her M.A. in Economics and Ph.D. in Finance from McGill University. Her research interests lie mainly in the areas of financial institutions and empirical corporate finance....

Publications

JOURNAL PUBLICATIONS

August 2019

Transfer Fees In Professional Soccer

JOURNAL : INTERNATIONAL ADVANCES IN ECONOMIC RESEARCH
CONTRIBUTORS: Trevor W Chamberlain, Nicolas Gardette
2019

Return On Violin And Macroeconomic Fluctuation

JOURNAL : JOURNAL OF CULTURAL ECONOMICS
CONTRIBUTORS: Mw Luke Chan, Dan Sabrina Gong, Terry A Yip
2019

Solving The Black-Scholes Partial Differential Equation Via The Solution Method For A One-Dimensional Heat Equation: A Pedagogic Approach With A Spreadsheet-Based Illustration

JOURNAL : SPREADSHEETS IN EDUCATION
CONTRIBUTORS: Clarence Cy Kwan
June 2019

Employee Costs Of Corporate Bankruptcy

CONTRIBUTORS: John R Graham, Hyunseob Kim, Si Li, Jiaping Qiu
May 2019

Employee Costs Of Corporate Bankruptcy

CONTRIBUTORS: John R Graham, Hyunseob Kim, Si Li, Jiaping Qiu
May 2019

Agency Cost Of Debt Overhang With Optimal Investment Timing And Size

JOURNAL : JOURNAL OF BUSINESS FINANCE & ACCOUNTING
CONTRIBUTORS: Michi Nishihara, Sudipto Sarkar, Chuanqian Zhang
January 2019

The Investment Decision With Technological And Market Uncertainties

JOURNAL : THE EUROPEAN JOURNAL OF FINANCE
CONTRIBUTORS: Yunfeng Fan, Sudipto Sarkar, Chuanqian Zhang

OTHER PUBLICATIONS