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) designation and Certified Financial Planner® certification (CFP® certification). 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

Amir Akbari

AMIR AKBARI

Assistant Professor

Dr. Amir Akbari received his Ph.D. in Finance from McGill University. His main research interests include Empirical Asset Pricing, International Finance, Institutional Investing, and Financial...

Ronald Balvers

RONALD BALVERS

Professor / Chair, Finance & Business Economics / Michael Lee-Chin & Family Chair in Investment & Portfolio Management

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...

Narat Charupat

NARAT CHARUPAT

Professor / Director, Master of Finance

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

Sherman Cheung

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 Professor

Dr. Anna Danielova is an award-winning instructor and researcher whose interests lie in the area of empirical corporate finance and corporate governance. Dr. Danielova has researched divestitures...

Yoontae Jeon

YOONTAE JEON

Assistant Professor

Dr. Yoontae Jeon received his Ph.D. in Finance from the Rotman School of Management, University of Toronto. His main research interests include Derivatives, Information in Financial Markets,...

Rosemary Luo

ROSEMARY 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 / Distinguished Business Research Professor

Katya Malinova

KATYA MALINOVA

Associate Professor / Mackenzie Investments Chair in Evidence-Based Investment Management

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. ...

Jiaping Qiu

JIAPING QIU

Professor / CIBC Chair in Financial Markets

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,...

John Siam

JOHN SIAM

Associate Professor / Director, Gould Trading Floor & Horizon Exchange Traded Funds Investment Decision Centre

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

January 2023

Global Risk And Market Conditions

JOURNAL : INTERNATIONAL REVIEW OF ECONOMICS AND FINANCE
CONTRIBUTORS: Amir Akbari, F Carrieri
April 2023

Chilling Effects Of Patent Trolls

JOURNAL : RESEARCH POLICY
CONTRIBUTORS: F Chen, Y Hou, Jiaping Qiu, G Richardson
January 2023

Understanding Leveraged Etfs’ Compounding Effect

JOURNAL : MANAGERIAL FINANCE
CONTRIBUTORS: Narat Charupat, Z Ma, Peter Miu
January 2023

Are Cryptocurrencies A Safe Haven For Stock Investors? A Regime-switching Approach

JOURNAL : JOURNAL OF EMPIRICAL FINANCE
CONTRIBUTORS: L Li, Peter Miu
July 2022

A Pedagogic Note On The Inverse Of The Sum Of Matrices: Miller’s Theorem And A Spreadsheet-based Illustration

JOURNAL : SPREADSHEETS IN EDUCATION
CONTRIBUTORS: Clarence c y Kwan
March 2022

Employee Costs Of Corporate Bankruptcy

JOURNAL : FRB OF CHICAGO WORKING PAPER
CONTRIBUTORS: John r Graham, Hyunseob Kim, Si Li, Jiaping Qiu
July 2022

Employee Costs Of Corporate Bankruptcy

CONTRIBUTORS: John r Graham, Hyunseob Kim, Si Li, Jiaping Qiu
June 2022

Infinite Markov Pooling Of Predictive Distributions

JOURNAL : JOURNAL OF ECONOMETRICS
CONTRIBUTORS: X Jin, John Maheu, Q Yang
May 2022

The Impact Of Public Information On Housing Market Decisions: Evidence From Third-party Avms

JOURNAL : JOURNAL OF REAL ESTATE RESEARCH
CONTRIBUTORS: Yoontae Jeon, Michael j Seiler, Youngme Seo
May 2022

Which Uncertainty Measures Matter For The Cross-section Of Stock Returns? #

JOURNAL : FINANCE RESEARCH LETTERS
CONTRIBUTORS: Kiryoung Lee, Yoontae Jeon, Minki Kim
January 2022

Can Cross-border Funding Frictions Explain Financial Integration Reversals?

JOURNAL : REVIEW OF FINANCIAL STUDIES
CONTRIBUTORS: Amir Akbari, F Carrieri, A Malkhozov
August 2022

News As Sources Of Jumps In Stock Returns: Evidence From 21 Million News Articles For 9000 Companies

JOURNAL : JOURNAL OF FINANCIAL ECONOMICS
CONTRIBUTORS: Yoontae Jeon, Thomas h Mccurdy, Xiaofei Zhao
January 2022

The Effect Of Organization Capital On The Cost Of Bank Loans

JOURNAL : JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS
CONTRIBUTORS: Anna Danielova, Bb Francis, H Teng, Q Wu
January 2022

Manufactured Exports, Disaggregated Imports And Economic Growth: The Case Of Kuwait

JOURNAL : ECONOMIC CHANGE AND RESTRUCTURING
CONTRIBUTORS: As Kalaitzi, Trevor william Chamberlain
May 2022

Impact Of The Global Financial Crisis On Corporate Investment In France

JOURNAL : INTERNATIONAL ADVANCES IN ECONOMIC RESEARCH
CONTRIBUTORS: Trevor william Chamberlain, Jcv Fosso
July 2022

Seasonality And Momentum Across National Equity Markets

JOURNAL : NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE
CONTRIBUTORS: J Song, Ronald Balvers
January 2022

Covid-19 Pandemic And Periodontal Practice: The Immunological, Clinical, And Economic Points Of View

JOURNAL : BIOMED RESEARCH INTERNATIONAL
CONTRIBUTORS: Mn Darestani, Amir Akbari, S Yaghobee, M Taheri, S Akbari
May 2022

Local Labor Market Competition And Capital Structure Decisions

JOURNAL : INSEAD WORKING PAPER
CONTRIBUTORS: John jianqiu Bai, Massimo Massa, Chi Wan, Yan Wang

OTHER PUBLICATIONS

May 2022

Repurchases For Price Impact: Evidence From Fragile Stocks

CONTRIBUTORS: Massimo Massa, David Schumacher, Yan Wang