Choi, Darwin（蔡達銘）

Biography

Prof. Darwin Choi is Associate Professor in the Department of Finance at The Chinese University of Hong Kong (CUHK) Business School. Before joining CUHK, he was Assistant Professor of Finance at the Hong Kong University of Science and Technology (HKUST) from 2009 to 2016. He received his PhD degree in Finance from Yale University in 2009 and BS in Economics and BS in Engineering degrees from the University of Pennsylvania in 2004. Prof. Choi’s research interests include behavioural finance, mutual funds and hedge funds, climate finance, and labour, focusing on how market conditions and investor psychology influence capital allocations. His work has been published in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Financial Markets, and Journal of Economic Behavior and Organization.

Teaching Areas

Investments
Options and Futures

Research Interests

Behavioural Finance
Mutual Funds and Hedge Funds
Climate Finance
Labour

• Publications & Working Papers
  • Darwin Choi, Zhenyu Gao, and Wenxi Jiang (2019), “Attention to Global Warming,” Review of Financial Studies, forthcoming.
  • Darwin Choi, Zhenyu Gao, and Wenxi Jiang (2019), “Measuring the Carbon Exposure of Institutional Investors,” Journal of Alternative Investments, forthcoming.
  • Darwin Choi (2019), “Disposition Sales and Stock Market Liquidity,” Journal of Financial Markets, 45, 19-36.
  • Darwin Choi, Bige Kahraman, and Abhiroop Mukherjee (2016), “Learning about Mutual Fund Managers,” Journal of Finance, 71, 2809- 2860.
  • Darwin Choi and Sam K. Hui (2014), “The Role of Surprise: Understanding Overreaction and Underreaction to Unanticipated Events using In-Play Soccer Betting Market,” Journal of Economic Behavior and Organization, 107, 614-629.
  • Darwin Choi, Mila Getmansky, Brian Henderson, and Heather Tookes (2010), “Convertible Bond Arbitrageurs as Suppliers of Capital,” Review of Financial Studies, 23, 2492-2522.
  • Darwin Choi, Mila Getmansky, and Heather Tookes (2009), “Convertible Bond Arbitrage, Liquidity Externalities, and Stock Prices,” Journal of Financial Economics, 91, 227-251.

• Awards & Honours
  • Faculty Teaching Excellence Award, CUHK Business School, The Chinese University of Hong Kong, 2018-2019
  • Securities & Futures Institute Best Paper Award, Asian Finance Association International Conference 2012
  • The Franklin Prize for Teaching Excellence, HKUST Business School, 2012