Maurice K.S. Tse
Dr. Maurice K.S. TSE, JP
Finance
BEcon & BEcon&Fin Programme Director
Principal Lecturer

2857 8636

KK 919

Biography

Maurice Tse received a Ph.D. in Finance from Michigan State University. In 1988, when still a Ph.D. candidate, he won the All-University-Excellence in Teaching Award as a graduate course instructor. Maurice joined the School of Business at Indiana University in 1989. In 1991, he also obtained a professional qualification as an Associate of the Society of Actuaries (ASA). Maurice's teaching has mainly been concerned with telling students how to get rich slowly but surely instead of getting rich fast.

Maurice has also been involved in teaching and consulting services to professional institutions. Since 1995, he has been an external assessor for the University Grants Committee. In 1996, while on staff at HKUST, Maurice taught the Professional Course for Equity Options Practitioners and the Diploma Course in Derivatives and Risk Management for the Stock Exchange of Hong Kong. In 1993 and 1994, he served on one of the Examination Committees in the Society of Actuaries. In 1991, he prepared the 1991 Housing Affordability Report for the Housing Finance Authority, State of Indiana, USA, to assist the state in complying with Department of Housing and Urban Development regulations.

Maurice has wide research interests, which include the effects of government regulations on the volatility and the wealth transfer in financial markets, asset pricing, corporate finance, and risk management. His current research focuses on the valuation of hybrid mortgage, signaling and corporate acquisitions, market structure and return volatility in Hong Kong, the commercial real estate market adjustment process, and the U.S. and Japanese Currency and Stock Market Responses to Japanese Merchandise Balance of Trade Announcements

Selected Publications
  • "Supply Adjustments to Demand Shocks in the Commercial Real Estate Market",
    (with G.H. Lentz), Real Estate Economics, forthcoming.
  • "The U.S. International Air Route Award Process: Shareholder Wealth Effects and Policy Implications",
    (with G.E. Hoffer and S.W. Pruitt), The Journal of Regulatory Economics, Vol. 12, 1997, pp.197-217.
  • "The Price, volatility, volume, and liquidity effects of Changes in Federal Reserve Margin Requirements on both Marginable and Non-marginable OTC Stocks",
    in S.W. Pruitt and Andrew Lo, (eds.), The Industrial Organization and Regulation of the Securities Industry, National Bureau of Economic Research, University of Chicago, 1996.The Industrial Organization and Regulation of the Securities Industry
    National Bureau of Economic Research, University of Chicago, 1996.
  • "An Option Pricing Approach to the Valuation of Commercial Real Estate Contaminated with Hazardous Materials",
    (with G.H. Lentz), The Journal of Real Estate Finance and Economics, Vol. 10. No. 2, Spring 1995, pp.121-144.
  • "A Quadratic Approach to the Two-Stage Dividend Discount Model",
    in K.Han and J. Uppal, Dilip K. Ghosh, (eds) , New Advances in Financial Economics, Oxford, Elsevier Science Publishers, London, U.K., 1995, pp.23-37.New Advances in Financial Economics
    Oxford, Elsevier Science Publishers, London, U.K., 1995.
  • "The CRISMA Trading System: The Next Five Years",
    (with S.W. Pruitt and R.E. White), The Journal of Portfolio Management, Vol. 18, 1992, pp.22-25.
  • "Downside Risk and Investment Planning",
    (with M.A. White and J. Uppal), The Financial Review, Vol. 28 No. 4, November 1993, pp.585-605, an abstract of this article was also published in the CFA Digest, Spring 1994, by the Association for Investment Management and Research.
Recent Publications
Digital Age of Virtual and Traditional Banking

香港金融管理局2017年9月就針對金融業數碼化,以「智慧銀行新紀元」為題,推出多項倡議;隨後於2021年6月公布「金融科技2025」策略,迎向銀行業要以科技為基礎的未來,旨在促進銀行採用科技、增強數據基礎設施、支持不斷發展的數碼生態系統。繼2017年清晰表達把虛擬銀行引進本港之後,該局翌年即發出《虛擬銀行的認可》指引修訂本;虛擬銀行須遵守適用於傳統銀行的同一套監管規定,在合乎其運作性質及所承擔的銀行業風險情況下,維持最少3億元繳足款股本。

Digital Age of Virtual and Traditional Banking

香港金融管理局2017年9月就針對金融業數碼化,以「智慧銀行新紀元」為題,推出多項倡議;隨後於2021年6月公布「金融科技2025」策略,迎向銀行業要以科技為基礎的未來,旨在促進銀行採用科技、增強數據基礎設施、支持不斷發展的數碼生態系統。繼2017年清晰表達把虛擬銀行引進本港之後,該局翌年即發出《虛擬銀行的認可》指引修訂本;虛擬銀行須遵守適用於傳統銀行的同一套監管規定,在合乎其運作性質及所承擔的銀行業風險情況下,維持最少3億元繳足款股本。

The Global Trend of Romance Scam

交友應用程式的流行和針對新冠疫情而實施的社交距離措施為人際關係帶來重大變化。近年欺詐案在香港特區層出不窮,升勢不止。筆者相信這與疫情期間流行網上聊天交友不無關係。

The Global Trend of Romance Scam

交友應用程式的流行和針對新冠疫情而實施的社交距離措施為人際關係帶來重大變化。近年欺詐案在香港特區層出不窮,升勢不止。筆者相信這與疫情期間流行網上聊天交友不無關係。

The Rise of Metaverse

不論在線上線下,「元宇宙」(Metaverse)都是城中熱話。何謂元宇宙?

The Rise of Metaverse

不論在線上線下,「元宇宙」(Metaverse)都是城中熱話。何謂元宇宙?

The Price of “Zero-Covid” amid Worsening Pandemic

香港在連續數月「清零」後,在社區出現Omicron變種病毒個案,爆發第五波疫情,特區政府因而重新推出表列處所須關閉等社交距離防疫措施,並取消多項大型活動。

The Price of “Zero-Covid” amid Worsening Pandemic

香港在連續數月「清零」後,在社區出現Omicron變種病毒個案,爆發第五波疫情,特區政府因而重新推出表列處所須關閉等社交距離防疫措施,並取消多項大型活動。

The Infinite Potential of the Biotech Industry

新冠肺炎變種病毒的威脅與日俱增,醫療保健和生物科技業有何應對辦法,自然備受全球關注。生物科技的發展有助解決現存問題, 例如傳染病疫苗、老齡化社會以至氣候變化,對人類社會貢獻極大;但研發過程漫長,技術風險高,尤其需要長期投資和雄厚資本,以及上市前後的持續融資。

The Infinite Potential of the Biotech Industry

新冠肺炎變種病毒的威脅與日俱增,醫療保健和生物科技業有何應對辦法,自然備受全球關注。生物科技的發展有助解決現存問題, 例如傳染病疫苗、老齡化社會以至氣候變化,對人類社會貢獻極大;但研發過程漫長,技術風險高,尤其需要長期投資和雄厚資本,以及上市前後的持續融資。