Faculty of Economics and Commerce Department of Finance

Howard Chan
Associate Professor

Biography

Dr. Howard Chan is an Associate Professor of Finance at the University of Melbourne. His previous appointment was at Monash University’s Clayton campus. He has lectured at the undergraduate and postgraduate level. His research interests include asset pricing, funds management, market efficiency and the role of financial analysts in financial markets. He has published in a wide range of domestic and international journals such as Accounting and Finance, Australian Journal of Management, International Review of Finance, Journal of Business, Finance and Accounting, Journal of International Financial Markets, Institutions and Money, Journal of Multinational Financial Management, Pacific-Basin Finance Journal, The Financial Review and the Review of Quantitative Finance and Accounting. He holds a Bachelor of Commerce degree with honours from the University of Melbourne and a Masters of Economics and PhD from Monash University. He is also on the editorial board of the Accounting Research Journal.

Qualifications

BCom(Hons) Melb, MEc, PhD Monash, CPA

Professional Affiliations

CPA Australia, Accounting and Finance Association of Australia and New Zealand, Asian Finance Association, American Finance Association

Publications

Journal Articles
  1. Chan, H.W.H., Faff, R., Ho, Y.K., and Ramsay, A.,. Forthcoming. "Effects of forecast specificity on the asymmetric short window market share market response to management earnings forecasts", Accounting Research Journal,
  2. Mahipala, T., Chan, H.W.H. and Faff, R.. 2009. "Trading Volume and Information Asymmetry: Routine Versus Non-Routine Earnings Announcements in Australia", Applied Financial Economics, 19 pp. 1737-1752.
  3. Chan, H.W.H., Faff, R., and Gallagher, D., and Looi, A.. 2009. "Fund size, fund flow, transaction costs and performance: Size matters!", Australian Journal of Management, 34 pp. 73-96.
  4. Brown, R.L., Chan, H.W.H., and Ho, Y.K.. 2009. "Analysts’ recommendation changes or disagreements with market consensus: From which signal does the market take its lead?", Review of Quantitative Finance and Accounting, 33 pp. 91-111.
  5. Gharghori, P., Chan, H.W.H., and Faff, R.. 2009. "Default Risk and the Cross-Section of Equity Returns", Pacific Basin Finance Journal, 17 pp. 580-593.
  6. Chan, H.W.H., Faff, R., Mather, P., and Ramsay, A.. 2008. "The relationship between director independence, reputation and management earnings forecasts", Corporate Ownership and Control, 6 (2, Winter): pp. 404-419.
  7. Gharghori, P., Chan, H.W.H. and Faff, R.. 2007. "Are the Fama-French Factors Proxying Default Risk?", Australian Journal of Management, 32 pp. 223-249.
  8. Brown, R.L., Chan, H.W.H. and Ho, Y.K. 2007. "Initiating coverage, broker reputation and management earnings forecasts in Australia", Accounting and Finance, 29 pp. 401-421.
  9. Chan, H.W.H., Faff, R., Gharghori, P.and Ho, Y.K.. 2007. "The Relation between R&D Expenditure and Future Market Returns - Does Expensing versus Capitalization Matter?", Review of Quantitative Finance and Accounting, 29 pp. 25-51.
  10. Chan, H.W.H., Faff, R., Ho, Y.K. and Ramsay, A.,. 2007. "Asymmetric Market Reactions of Growth and Value Firms with Management Earnings Forecasts", International Review of Finance, 6 pp. 79-97.
  11. Chan, H.W.H., Faff, R., Ho, Y.K. and Ramsay, A.. 2007. "Management earnings forecasts in a continuous disclosure environment", Pacific Accounting Review, 19 pp. 5-30.
  12. Gharghori, P., Chan, H.W.H. and Faff, R.. 2006. "Investigating the Performance of Alternative Default Risk Models: Option-based versus Accounting-based Approaches", Australian Journal of Management, 31 pp. 207-234.
  13. Chan, H.W.H., Brown, R.L. and Ho, Y.K.. 2006. "Initiation of brokers' recommendations, market predictors and stock returns", Journal of Multinational Financial Management, 16 pp. 213-231.
  14. Gharghori, P., Chan, H.W.H. and Faff, R.. 2006. "Factors or Characteristics?: That is the Question", Pacific Accounting Review, 18 pp. pp. 21-46.
  15. Chan, H.W.H., and Faff, R.. 2005. "Asset Pricing and Illiquidity Premium", The Financial Review, 40 pp. 429-458.
  16. Chan, H.W.H., Faff, R., and Ramsay, A.. 2005. "Firm Size and the Information Content of Annual Earnings Announcements: Australian Evidence", Journal of Business, Finance and Accounting, 32 pp. 211-252.
  17. Chan, H.W.H., Howard, P.F., Faff, R., and Sokulsky, D.. 2004. "Anticipating Stocks being Added to an Official Market Index: A Trading Rule Test", Accounting, Accountability and Performance, 10 pp. 1-17.
  18. Josev, T., Chan, H.W.H., and Faff, R.. 2004. "What's in a name? Evidence on Corporate Name Changes from the Australian Capital Market", Pacific Accounting Review, 16 pp. 57-75.
  19. Chan, H.W.H., and Brown, R.L.. 2004. "Rights Issues versus Placements in Australia: Regulation or Choice", Companies and Securities Law Journal, 22 pp. 301-312.
  20. Chan, H.W.H., and Faff, R. 2003. "An Investigation into the Role of Liquidity in Asset Pricing: Australian Evidence", Pacific- Basin Finance Journal, 11 pp. 555-572.
  21. Chan, H.W.H., Faff, R., Kalev, P., and Lee, D.. 2003. "Further Evidence on the Short-term Contrarian Investment Strategy", Finance Letters, 1 pp. 41-45.
  22. Lee, D., Chan, H.W.H., Faff, R. and Kalev, P.. 2003. "Short term contrarian investing-is it profitable? Yes and No", Journal of Multinational Financial Management, 13 pp. 385-404.
  23. Chan, H.W.H., and Howard, P.F.. 2002. "Additions to and Deletions from an Open-Ended Market Index: Evidence from the Australian All Ordinaries Index", Australian Journal of Management, 27 pp. 45-74.
  24. Chan, H.W.H., and Pinder, S.M.. 2000. "The Value of Liquidity: Evidence from the Derivatives Market", Pacific-Basin Finance Journal, 8 pp. 483–503.
  25. Faff, R., and Chan, H.W.H.. 1998. "A Test of the Inter-temporal CAPM in the Australian Equity Market", Journal of International Financial Markets, Institutions and Money, 8 pp. 175-188.
  26. Chan, H.W. H. and Faff, R.. 1998. "The Sensitivity of Australian Industry Equity Returns to a Gold Price Factor", Accounting and Finance, 38 pp. 223-244.
  27. Chan, H.W. H. and Faff, R. 1998. "A Multifactor Model of Gold Industry Stock Returns: Evidence from the Australian Equity Markets", Applied Financial Economic, 8 pp. 21-28.
  28. Chan, H.W.H.. 1997. "The Effect of Volatility Estimates in the Valuation of Underwritten Rights Issues", Applied Financial Economics, 7 pp. 473-480.
  29. Chan, H.W.H.. 1994. "Leptokurtic Stock Distributions: Implications for Shorter Terms to Maturity", Accounting Research Journal, 7 pp. 11-19.
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