Fangzhou LU
Dr. Fangzhou LU
金融学
Assistant Professor

3910 2533

KK 1019

Academic & Professional Qualification
  • PhD., MS., Massachusetts Institute of Technology
  • BS., New York University
Biography

Dr. Fangzhou Lu joined The University of Hong Kong (HKU) as an assistant professor at the HKU Business School in 2020. He received his Bachelor of Science from New York University, Stern School of Business in 2014, and Ph.D. from Massachusetts Institute of Technology (MIT) in 2020.

His research interests are Fintech, Cryptocurrency, Behavioral Finance, Entrepreneurial Finance, Emerging Markets, and Household Finance. His research is forthcoming in academic journals such as the Journal of Financial Economics. His recent research focus on economic growth following the COVID-19.

Research Interest
  • Fintech
  • Cryptocurrency
  • Behavioral Finance
  • International Finance
Selected Publications
  • “The Real Value of China’s Stock Market”, with Jennifer N. Carpenter and Robert F. Whitelaw, 2021, Journal of Financial Economics, 139(3), 679-696.
Recent Publications
研究显示发起人的关系网络为决定SPAC成功的关键因素

港大经管学院几位学者最近发布的研究发现,有些因素能有助投资者辨别SPAC能否取得成功。

Climbing the digital ladder

While Hong Kong may have all the financial credentials to be a cryptocurrency hub, industry experts doubt that digital currencies will become popular, and warn that novice investors could get hurt. Zeng Xinlan reports.

The Real Value of China’s Stock Market

What capital allocation role can China’s stock market play? Counter to perception, stock prices in China have become as informative about future profits as they are in the US. This rise in stock price informativeness has coincided with an increase in investment efficiency among privately owned firms, suggesting the market is aggregating information and providing useful signals to managers. However, price informativeness and investment efficiency for state-owned enterprises fell below that of privately owned firms after the postcrisis stimulus, perhaps reflecting unpredictable subsidies and state-directed investment policy. Finally, evidence from realized returns suggests Chinese firms face a higher cost of equity capital than US firms.