
Welcome to Impact Factors!
Discover insights and influential research
from HKU Business School’s distinguished faculty.
Browse our collected articles for the latest academic research
and its implications across key areas of
business, economics, finance, and more.
Latest Research

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Voting Rationales
Using a novel dataset where institutional investors explain their votes—voting rationales—the researchers uncovered direct evidence on the motivations behind votes in director elections. This approach…

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The Interactions of Customer Reviews and Price and Their Dual Roles in Conveying Quality Information
This paper discusses an analytical model for assessing how customer reviews and price can influence market signalling for experience goods with uncertain quality, especially when…

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Does Liquidity Management Induce Fragility in Treasury Prices? Evidence from Bond Mutual Funds
Mutual funds investing in illiquid corporate bonds actively manage Treasury positions to buffer redemption shocks. This practice can cause flow shocks and cause excess return…
Insight Articles
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The Resurgence of Economic Woes in Argentina
Entering the last quarter of 2025, the rekindling of the China-US trade war dispelled the atmosphere of truce in the wake of four rounds of…
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Resisting Skill Erosion: Harnessing AI for Personal Growth
Artificial intelligence (AI) technology has been developing in leaps and bounds in recent years. Reams of academic studies have shown that human-AI collaboration is conducive…
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Leveraging US H-1B Fee Hike to Advance Tech Competitiveness in Mainland China and Hong Kong
US president Donald Trump recently signed an executive order announcing that, effective 21 September 2025, foreign first-time applicants for H-1B work visas will be required…
Offshore Renminbi-backed Stablecoins: Opportunities and Challenges
On August 1, 2025, Hong Kong’s “Stablecoin Ordinance” will take effect, marking China’s gradual participation in the stablecoin market and its exploration of how to use Hong Kong, an offshore…
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From Labubu to Chiikawa: The Sustainability of IP Economy
Just as Labubu, a hot item in short supply not long ago, is losing steam, a new darling―the Japanese anime sensation Chiikawa―is taking centre stage, bearing witness to a typical…
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Designing Industrial Policy with Insights from Hong Kong-Invested Industrial Firms
Commissioned by the Federation of Hong Kong Industries, the “Made by Hong Kong: Strategies for New Industrialisation” study report compiled by us was released last month. In this article, we…
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The Interactions of Customer Reviews and Price and Their Dual Roles in Conveying Quality Information
This paper discusses an analytical model for assessing how customer reviews and price can influence market signalling for experience goods with uncertain quality, especially when there is selection bias. The…
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Does Liquidity Management Induce Fragility in Treasury Prices? Evidence from Bond Mutual Funds
Mutual funds investing in illiquid corporate bonds actively manage Treasury positions to buffer redemption shocks. This practice can cause flow shocks and cause excess return volatility. Excess return volatility is…
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Cultural Phenomena and Financial Innovation: From Labubu to RWA in Hong Kong
We have been listening to discussions about Labubu’s innovative marketing and customer engagement, given its global success today. However, how can it shed light on Hong Kong’s RWA economy?
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Stablecoins Advancing Steadily in Hong Kong’s Evolving Financial Landscape
As cryptocurrencies, stablecoins are pegged to another asset, typically the US dollar, another fiat currency, or a financial asset such as gold or the US Treasury bonds. The issuance mechanism…
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Reflections on the Essence of Stablecoin Economics
Typically issued by private institutions, stablecoins are digital currencies that are pegged one-to-one to a fiat currency or collateralized by a reference asset. Currently, 99% of the world’s stablecoins are…
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The Art of Pricing in the Digital Age
In 2023, the Belgian newspaper Dernière Heure revealed that the ride-hailing platform Uber charges different prices to users based on their phone’s battery level.[1] Specifically, for the same trip, if…
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A preliminary, large-scale evaluation of the collaborative potential of human and machine creativity
Abstract Artificial intelligence research focuses on machine reasoning and knowledge-based problem-solving. Yet, Einstein observed that knowledge stagnates without human imagination. “Imagination,” he said, “is more important than knowledge. Knowledge is…
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