Dr Huamao Wang

Lecturer in Finance

About

Dr Huamao Wang is a Lecturer in Finance at the University of Kent after achieving his PhD degree. He obtained his PhD at the Centre for Advanced Studies in Finance, the University of Leeds, winning the Tom Lupton prize. Dr Wang published papers in journals including European Journal of Operational Research, European Journal of Finance etc. He acted as a referee for European Journal of Operational Research, Journal of Banking & Finance, European Journal of Finance, and Quantitative Finance etc.

Research Interests

Theoretical and empirical researches in Corporate Finance, Asset Pricing, Financial Economics, General Equilibrium, Asset Allocation, and Portfolio Choice.

Dr Wang currently focuses on two research topics. One studies the effects of financial intermediaries and monetary policy on cross-sectional firms' risk premia and decisions. Another examines the interaction between financial intermediaries and firms on corporate finance and asset pricing in the cross section under behaviour bias.

Teaching

Dr Huamao Wang has the experiences of the module convener for several modules including Derivatives, Futures and Options Markets, Mathematics of Finance, and Financial Statements Analysis for the programmes of MSc in Finance and BA in Accounting and Finance.

Supervision

Dr Huamao Wang has a couple of PhD student vacancies. Candidates who have/will achieve a Master degree with merit or an equivalent level in Finance related backgrounds, e.g., Investment/Market/Banking/Financial-Management/Financial-Economics are welcome to contact Dr Wang for studying the programme of 'PhD in Finance' supervised by Dr Wang.

Potential research topics for the PhD students includes but are not limited to empirical and/or theoretical researches in Corporate Finance, Asset Pricing, Financial Markets (stocks, bonds, options, volatilities etc), Risk Analysis and Investment, Financial Intermediaries (banks, funds, venture capital etc), Portfolio Choice, and emerging topics in Fintech (AI, Big Data, Blockchain, and Cryptocurrencies).

The project focuses on theoretical and empirical researches in financial market dynamics. We investigate the impact of Macroeconomic conditions and financial market imperfections on endogenous levered equity and bond risk premia. We incorporate models in General Equilibrium, Dynamic Corporate Finance, Asset Pricing and Portfolio Choice etc. into a unified theoretical framework. Using this framework, we examine the interplay between corporate decisions and asset returns for a cross-section of firms. The results reveal the dynamics of asset prices depending on time-varying economy states and uncertainty.

 

Supervisees

  • Omar Al-Bataineh: Dividend Policy under Corporate Governance: Evidence from the UK

Past supervisees

  • Jun Yang - Strategic Portfolio Management and Risk Modelling

Publications

Also view these in the Kent Academic Repository

Article

  • Wang, H., Yang, J. and Yao, Y. (2019). Dynamics and Performance of Decentralized Portfolios with Size-Induced Fund Flows. Quantitative Finance [Online] 19:885-898. Available at: https://doi.org/10.1080/14697688.2018.1550262.
  • Wang, H., Xu, Q. and Yang, J. (2017). Investment timing and optimal capital structure under liquidity risk. European Journal of Finance [Online]:1-23. Available at: http://dx.doi.org/10.1080/1351847X.2017.1356342.
  • Luo, P., Wang, H. and Yang, Z. (2015). Investment and financing for SMEs with a partial guarantee and jump risk. European Journal of Operational Research [Online] 249:1161-1168. Available at: http://dx.doi.org/10.1016/j.ejor.2015.09.032.
  • Wang, H., Yang, Z. and Zhang, H. (2015). Entrepreneurial Finance with Equity-for-Guarantee Swap and Idiosyncratic Risk. European Journal of Operational Research (ABS 4) 241:863–871.
  • Palczewski, J. et al. (2015). Dynamic portfolio optimization with transaction costs and state-dependent drift. European Journal of Operational Research (ABS 4) 243:921-931.
  • Song, D., Wang, H. and Yang, Z. (2014). Learning, pricing, timing and hedging of the option to invest for perpetual cash flows with idiosyncratic risk. Journal of Mathematical Economics (ABS 3) 51:1-11 (lead article).

Monograph

  • Wang, H. (2016). Risk premium and firm investment under technology upgrades and shocks. Working paper.
Total publications in KAR: 7 [See all in KAR]