Skip to content Skip to main navigation

Academic Areas

Building on
a Century of Excellence



Dr. Po-Hsuan HSU


Associate Professor


2859 1049
Dr. Po-Hsuan HSU

Hidden Script

[Do not edit or remove this area]
There are 3 sections for "Publications" with 'More...':
1st Section Name: [Selected Publications]
- List the 10 latest publications in this section
2nd Section Name [ 'blank' ] <Delete this Section if no content>
- List the remaining older publications
3rd Section Name [ 'blank' ] <Delete this Section if no content>
- With function to show 'More...' and the edit link to personal homepage


Dr. Po-Hsuan (Paul) Hsu received his Ph.D. in finance from the Graduate School of Business, Columbia University in 2007.  He also holds a Master’s degree in technology management from National Chiao-Tung University, and a Bachelor’s degree in international business from National Taiwan University.

Paul was an Assistant Professor of Finance at the School of Business, University of Connecticut before he joined The University of Hong Kong in 2011.  He has been the Associate Professor of Finance at HKU since 2014.

Paul’s research agenda focuses on the role of technological innovation in financial markets.  He has published research papers in several academic journals including Journal of Financial Economics, Journal of International Economics, Financial Management, Journal of Financial Econometrics, Journal of Corporate Finance, Journal of Empirical Finance, Journal of Applied Corporate Finance, Quantitative Finance, and others.  He also won the Best Paper Awards at FMA Annual Meeting 2008 and NTU IEFA Conference 2009. 

Areas of Interest

  • Asset pricing
  • Innovations
  • Financial econometrics
  • Technology management


  • Ph.D., M.Phil., Columbia University
  • M.B.A., National Chiao-Tung University
  • B.B.A., National Taiwan University

Selected Publications

  • “Technical analysis: Is it still beating the foreign exchange market?”
    (with Mark P. Taylor and Zigan Wang), Journal of International Economics 102, pp. 188-208, 2016.
  • “Corporate philanthropy and innovation: The case of the pharmaceutical industry,”
    (with Frederick Bereskin), Journal of Applied Corporate Finance 28 (2), pp. 80-86, 2016.
  • “Be nice to your innovators: Employee treatment and corporate innovation performance,”
    (with Chen Chen, Yangyang Chen, and Edward J. Podolski), Journal of Corporate Finance, 39, pp. 78-98, 2016.
  • “Corporate philanthropy, research networks, and collaborative innovation,”
    (with Frederick Bereskin and Terry L. Campbell), Financial Management, 45 (1), pp. 175-206, 2016.
  • “Corporate innovation, default risk, and bond pricing,”
    (with Hsiao-Hui Lee, Alfred Zhu Liu, and Zhipeng Zhang), Journal of Corporate Finance, 35, pp. 329-344, 2015.
  • “Corporate innovation and inventory turnover,”
    (with Hsiao-Hui Lee and Jianer Zhou), Decision Support Systems, 76, pp. 35-44, 2015.
  • “Financial development and innovation: Cross-country evidence,”
    (with Xuan Tian and Yan Xu), Journal of Financial Economics, 112 (1), pp. 116-135, 2014.
  • “Innovative efficiency and stock returns,”
    (with David Hirshleifer and Dongmei Li), Journal of Financial Economics, 107 (3), pp. 632-654, 2013.
  • “Innovations, intellectual property protection, and financial markets: Cross-province evidence from China,”
    (with Chong Wang and Chaopeng Wu), Journal of Business Research, 66 (12), pp. 2390-2396, 2013.
  • “Innovate to survive: The effect of technology competition on corporate bankruptcy,”
    (with Assaf Eisdorfer), Financial Management, 40 (4), pp. 1087-1117, 2011.
  • “The use of Bayes factors to compare interest rate term structure models,”
    (with W. Keener Hughen and Carmelo Giaccotto), Quantitative Finance, 13 (3), pp. 369-381, 2011.
  • “Technology prospects and the cross-section of stock returns,”
    (with Dayong Huang), Journal of Empirical Finance, 17 (1), pp. 39-53, 2010.
  • “Testing the predictive ability of technical analysis using a new stepwise test without data snooping bias,”
    (with Yu-Chin Hsu and Chung-Ming Kuan), Journal of Empirical Finance, 17 (3), pp. 471-484, 2010.
  • “Technological innovations and aggregate risk premiums,”
    Journal of Financial Economics, 94 (2), pp. 264-279, 2009.
  • “Reexamining the profitability of technical analysis with data snooping checks,”
    (with Chung-Ming Kuan), Journal of Financial Econometrics, 3 (4), pp. 606-628, 2005.

For a full and up-to-date profile, please visit Paul’s CV


Office Room 923, KK Leung Building
Tel. (852) 2859 1049

Back to top

Back to top

Join FBE Mailing List

* Required Field


  • Fill in all required fields *.
  • Please make sure all the above personal data is correct and you are strongly encouraged to notify the Faculty of Business and Economics of The University of Hong Kong via email: if there are any changes in your contact information.

Personal Data Collection

The Faculty of Business and Economics will send you information related to the Faculty including news, event updates, newsletters and/or promotional information through the personal data which you have provided. The Faculty will keep all personal data strictly confidential and will not provide contacts in any form to a third party. If you do not wish to receive information from the Faculty, please contact