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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Harnessing Web 3.0: Strengthening Hong Kong’s Status as a Global Financial Hub
Against the backdrop of the global Web 3.0 boom, which is driving the continuous expansion of the virtual asset market and reshaping the international financial…
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When Interdependence Fades: How AI and Automation Are Recasting Global Trade
Automation and artificial intelligence (AI) are transforming traditional patterns of international trade, enabling developed countries to gain an endogenous comparative advantage in industries that were…
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The Story of Hong Kong’s Ride-Hailing Services: Then and Now
In Hong Kong, a densely populated international metropolis, the red, green, and blue taxis flowing through the streets once symbolized the city’s vitality.
Public Oversight Essential for the Northern Metropolis Development
Last week, the Chief Executive released his Policy Address 2025, covering the full gamut of Hong Kong’s economic and livelihood development, from promoting fertility and regulating non-local workers to supporting…
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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 helps to increase governance-related transparency,…
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Mainland E-commerce Reshapes Hong Kong’s Retail Market
Hong Kong was once famed worldwide as a “Shopping Paradise,” with retail serving as a key pillar of its economy.
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The Underlying Market Risks of Politicized Finance
Launched by World Liberty Financial, a decentralized financial (DeFi) protocol and governance platform backed by Donald Trump’s family, the digital token WLFI began trading on major cryptocurrency exchanges on 1…
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Bottled Water Controversy and the Credence-Goods Dilemma
The recent controversy involving the awarding of a contract to provide bottled drinking water to the SAR Government offices has quickly snowballed. What began as misgivings among civil servants has…
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Fleeting or Lasting Success? Unlocking the Power Durability of Live Commerce
Driven by the wave of digitalization, livestream e-commerce has rapidly risen to become one of the most phenomenal marketing methods in the e-commerce sector.
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Do we still remember the military yen?
On 7 December 1941, at 7.55 a.m. Hawaiian time, Japan launched a surprise attack on the American naval base at Pearl Harbour, prompting the UK and the US to declare…
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From Elite Politics to Grassroots Engagement: A New Strategy for Chinese Firms’ Overseas Expansion
Amid the current vicissitudes of globalization and the profound shifts in the global environment, Chinese enterprises’ international expansion strategies are beset with challenges. Their erstwhile strategies succeeded for the straightforward…
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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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