Louis K.C. Chan

Louis K.C. Chan

Hoeft Professor of Business and Department Chair of Finance

  • Email

Contact

393 Wohlers Hall

1206 S. Sixth

Champaign, IL 61820

217-333-6391

l-chan2@illinois.edu

SSRN

Listings

Educational Background

  • Ph.D., Finance and Applied Economics, University of Rochester, 1984
  • M.S., Applied Economics, University of Rochester, 1982
  • B.B.A., University of Hawaii, 1979

Positions Held

  • Chair, Department of Finance, University of Illinois Urbana-Champaign, 2012 to present
  • Hoeft Professor of Business, University of Illinois at Urbana-Champaign, 2004 to present
  • Professor of Finance, University of Illinois, 2000 to present
  • Associate Professor of Finance, University of Illinois, 1994-1999
  • Assistant Professor of Finance, University of Illinois, 1988-1993
  • Assistant Professor of Finance, Cornell University, 1983-1988
  • Assistant Lecturer, University of Rochester, 1981-1982

Recent Publications

  • Chan, L., Chen, H., & Lakonishok, J., T. Daniel Coggin and Frank J. Fabozzi (Ed.) (2013). Mutual fund investment styles. Handbook of Equity Style Management ( pp. 359-406). John Wiley & Sons, Inc.
  • Chan, L., Dimmock, S., & Lakonishok, J. (2009). Benchmarking money manager performance: Issues and evidence. Review of Financial Studies, 22 (11), 4553-4599.
  • Ikenberry, D., Chan, L., Lakonishok, J., & Lee, S. (2008). Are All Analysts Alike? Identifying Earnings Forecasting Ability. Journal of Investment Management, 6 (1), 1-19.

Other Publications

Articles

  • Chan, L., Karceski, J., & Lakonishok, J. (2007). Analysts' Conflicts of Interest and Biases in Earnings Forecasts Journal of Financial and Quantitative Analysis, 42 (4), 893-913.
  • Chan, L., Lakonishok, J., & Swaminathan, B. (2007). Industry Classifications and return comovement. Financial Analysts Journal, 63 (6).
  • Chan, K., Chan, L., Jegadeesh, N., & Lakonishok, J. (2006). Earnings Quality and Stock Returns. Journal of Business, 79 (3), 1041-1082.
  • Lakonishok, J., & Chan, L. (2004). Value and Growth Investing: Review and Update. Financial Analysts Journal, 60 (1), 71-86.
  • Chan, L., Karceski, J., & Lakonishok, J. (2003). The Level and Persistence of Growth Rates. Journal of Finance, 58 (2), 634-684.
  • Chan, L., Chen, H., & Lakonishok, J. (2002). On the Mutual Fund Investment Styles. Review of Financial Studies, 15 (5), 1407-1437.
  • Chan, L., Lakonishok, J., & Sougiannis, T. (2001). The Stock Market Valuation of Research and Development Expenditures. Journal of Finance, 56 (6), 2431-2456.  link >
  • Chan, L., Karceski, J., & Lakonishok, J. (2000). A New Paradigm or the Same Old Hype?: The future of value versus growth investing. Financial Analysts Journal.
  • Chan, L., Jegadeesh, N., & Lakonishok, J. (1999). The Profitability of Momentum Strategies. Financial Analysts Journal, 80-90.
  • Chan, L., Karceski, J., & Lakonishok, J. (1999). On Portfolio Optimization: Forecasting Covariances and Choosing the Risk Model. Review of Financial Studies, 12 937-974.
  • Chan, L., Karceski, J., & Lakonishok, J. (1998). The Risk and Return from Factors. Journal of Financial and Quantitative Analysis, 33 159-188.
  • Chan, L., & Lakonishok, J. (1997). Institutional Equity Trading Costs: NYSE versus Nasdaq. Journal of Finance, 52 (2), 713-735.

Presentations

  • Chan, L. (2004). Accounting information and stock returns. Joint Q Group, Inquire-UK and Inquire-Europe meeting.
  • Chan, L. (2004). Analysts' conflict of interest and biases in earning forecasts American Finance Association Meetings.
  • Chan, L. (2004). Update on the level and persistence of growth rates. Morgan Stanley Conference on Market Microstructure.
  • Chan, L. (2003). Analysts' conflict of interest and biases in earning forecasts European Financial Management Association Meetings.
  • Chan, L. (2003). Analysts' conflict of interest and biases in earning forecasts University of Oulu, Finland.
  • Chan, L. (2003). Analysts' conflict of interest and biases in earning forecasts NBER Behavioral Finance meetings.
  • Chan, L. (2002). Research on momentum strategies. Journal of Empirical Finance Conference on Behavioral Finance.
  • Lakonishok, J., Chan, H., Chan, L., & Jegadeesh, N. (2002). The Accrual Effect in Stock Returns. Berkeley Program in Finance.
  • Lakonishok, J., Chan, L., & Karceski, J. (2002). The Level and Persistence of Growth Rates. Berkeley Program of Finance.
  • Lakonishok, J., Chan, H., Chan, L., & Jegadeesh, N. (2001). The Accrual Effect in Stock Returns. American Finance Association Meetings.
  • Lakonishok, J., Chan, L., & Karceski, J. (2001). The Level and Persistence of Growth Rates. NBER, Behavioral Finance Group.
  • Lakonishok, J., Chan, L., & Sougiannis, T. (2000). The Stock Market Valuation of Research and Development Expenditures. American Finance Association Meetings.
  • Lakonishok, J., Chan, L., & Chen, H. (1999). On Mutual Fund Investment Styles. University of Rochester.
  • Lakonishok, J., Chan, L., & Chen, H. (1999). On Mutual Fund Investment Styles. American Finance Association Meetings.
  • Lakonishok, J., Chan, L., & Sougiannis, T. (1998). The Stock Market Valuation of Research and Development Expenditures. National Bureau of Economic Research, Behavioral Finance Meetings.
  • Lakonishok, J., Chan, L., & Jegadeesh, N. (1997). Momentum Strategies. Q Group.
  • Lakonishok, J., Chan, L., & Jegadeesh, N. (1997). Momentum Strategies. Conference on Investment Decisions and Behavioral Finance.

Working Papers

  • Chan, L., Karceski, J., & Lakonishok, J. Balance Sheet Growth and the Predictability of Stock Returns.

Service

  • Editorial board, International Review of Finance, 2015 to present
  • Theme Convenor, Enhancing Hong Kong's Strategic Position as a Regional and International Business Centre, Hong Kong Research Grants Council, 2012 to present
  • Ex officio member, Hong Kong research Grants Council, 2010 to present
  • Chair (founding) of Business Studies Panel, Hong Kong Research Grants Council, 2009 to present

Teaching Interests

Teaches courses in multinational business and investments.

Research Interests

Research focuses on empirical analysis of the behavior of stock returns; the impact of institutional equity trading; comparative analysis of stock market structures; risk and portfolio optimization.

Current Courses

  • International Finance (FIN 551) Explores the characteristics of the international financial market and examines various aspects of corporate financial management. Topics may include international parity conditions, exchange rate risk management, country risk, cross-border investment analysis, multi national firm budgeting, hedging in foreign currency markets, accessing international financial markets for financing, and competitive strategy in a global marketplace.

Contact

393 Wohlers Hall

1206 S. Sixth

Champaign, IL 61820

217-333-6391

l-chan2@illinois.edu

SSRN