Keith Wong received his Ph.D. in finance from the University of British Columbia, after which he taught at the Hong Kong University of Science and Technology. He joined the School of Economics and Finance in July 1996.
Keith's research is mainly theoretical and can be divided into three areas: corporate finance, risk management, and real options. Beginning with his Ph.D. dissertation, Keith's research on corporate finance focuses on integrating financial contract theory with industrial organization theory. Since 1998, Keith has done research on risk management that examines the issues of how risk-averse firms should hedge their exposure to various sources of uncertainty (e.g., exchange rate risk, price risk, and liquidity risk) in general, and the optimality of using options as a hedging instrument in particular. He started his research on real options in 2004 with the paper entitled "The Effect of Uncertainty on Investment Timing in a Real Options Model," which has recently been published in the Journal of Economic Dynamics and Control. This paper points out that the investment-uncertainty relationship is necessarily U-shaped unless the underlying uncertainty is purely idiosyncratic in nature, as is commonly considered in the extant literature.