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Prof David Ding

Professor of Finance/Financial Economics

School of Economics and Finance

Dr. David Ding is Professor of Finance and Financial Economics at the School of Economics and Finance at Massey University, Albany, New Zealand. He was previously an Associate Professor of Finance Practice at the Singapore Management University where he was also the Director of the Master of Applied Finance (China) program. Before SMU, he was the Foundation Professor of Finance at the University of New South Wales' Asian campus. David's other academic appointments include the role of Director of the Center for Research in Financial Services and Head of the Division of Banking and Finance at the Nanyang Technological University, Singapore. Professor Ding has taught Business Finance, Financial Management, Corporate Finance, Investment Analysis & Portfolio Management, and International Financial Management at both the undergraduate and graduate levels. Dr. Ding holds the Ph.D. in Finance from the University of Memphis, an MBA in Finance from the University of Tennessee, and an Honours degree in Business Administration from the University of Windsor, Canada.

Professor Ding's areas of research interest are in the microstructure of financial markets, corporate governance, and emerging financial markets. He has published more than 50 articles in leading journals such as the Journal of Banking and Finance, Journal of Empirical Finance, Journal of Futures Markets, Review of Quantitative Finance and Accounting, Journal of Multinational Financial Management, Journal of Business Finance and Accounting, Financial Review, Pacific Basin Finance Journal, International Journal of Finance, and International Review of Economics and Finance, among others. In 2005, he was ranked 17th out of 778 researchers from among 170 universities in the Asia-Pacific region by the Pacific Basin Finance Journal.

Before joining academia, David worked professionally in commercial banking and management consulting. His professional service includes appointments as the elected president of the Asian Finance Association, president of the Pacific Basin Financial Management Society, panel of experts on securities offences at the Commercial Affairs Department of the Singapore Police Force, and advisory board member of the journal of the Singapore Exchange, PULSES. A Fellow of CPA Australia, David is a member of the American Finance Association, Financial Management Association International, Asian Finance Association, CFA Institute, CFA Singapore, CFA New Zealand, INFINZ, FINSIA, and the Asian Shadow Financial Regulatory Committee. He is a regional editor of the International Review of Financial Analysis and the Journal of Emerging Markets. Besides, he serves as associate editor of the Pacific Basin Finance Journal, the International Journal of Banking and Finance, Research in International Business and Finance, and Journal of Financial Studies.

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Professional

Qualifications

  • PhD (1993)
  • MBA (1985)
  • B.Com. (Honours) (1983)

Research Expertise

Research Interests

Market Microstructure

Corporate Governance

Emerging Markets Finance

Thematics

Resource Development and Management

Area of Expertise

Field of research codes
Banking, Finance and Investment (150200): Commerce, Management, Tourism And Services (150000): Finance (150201)

Keywords

Market Microstructure, Corporate Finance, Corporate Governance and Emerging Markets Finance.

Research Projects

Summary of Research Projects

Position Current Completed
Project Leader 0 2

Completed Projects

Project Title: Corporate Responsibility and Investor Wealth Creation

Date Range: 2013 - 2013

Funding Body: Massey University

Project Team:

Research Outputs

Journal

Charoenwong, C., Ding, DKY., & Siraprapasiri, V. (2016). The microstructure behavior of SGX nikkei 225 index futures resulting from component changes of the underlying cash market index. NIDA Business Journal. 18, 111-141
[Journal article]Authored by: Ding, D.
Ding, DK., Ferreira, C., & Wongchoti, U. (2016). Does it pay to be different? Relative CSR and its impact on firm value. International Review of Financial Analysis. 47, 86-98
[Journal article]Authored by: Ding, D., Wongchoti, U.
Charoenwong, C., Ding, DK., & Thong, TY. (2016). Decimalization, IPO aftermath, and liquidity. Review of Quantitative Finance and Accounting. 47(4), 1303-1344
[Journal article]Authored by: Ding, D.
Jenwittayaroje, N., Charoenwong, C., Ding, DK., & Yang, YC. (2015). Trading costs on the Stock Exchange of Thailand. International Review of Financial Analysis. 41, 31-40
[Journal article]Authored by: Ding, D.
Charoenwong, C., Maysami, RC., & Ding, DKY. (2014). Bank valuation in Malaysia: An empirical comparison of conventional and interest-free (Islamic) banking models. Journal of International Business Research and Practice. 8, 96-102
[Journal article]Authored by: Ding, D.
Ding, DK., Tse, Y., & Williams, MR. (2014). The Price Discovery Puzzle in Offshore Yuan Trading: Different Contributions for Different Contracts. Journal of Futures Markets. 34(2), 103-123
[Journal article]Authored by: Ding, D.
Ding, DKY., Maysami, RC., & Charoenwong, C. (2012). The influence of the Islamic profit and loss sharing scheme on return from investment and deposit accounts: An empirical study. The Journal of International Business Research and Practice. 6(2012), 122-127
[Journal article]Authored by: Ding, D.
Lim, CY., Ding, DK., & Charoenwong, C. (2013). Non-audit fees, institutional monitoring, and audit quality. Review of Quantitative Finance and Accounting. 41(2), 343-384
[Journal article]Authored by: Ding, D.
Ang, JS., Ding, DK., & Thong, TY. (2013). Political connection and firm value. Asian Development Review. 30(2), 131-166
[Journal article]Authored by: Ding, D.
Charoenwong, C., Ding, D., & Wang, P. (2013). Short sales constraint and SEO pricing. International Review of Financial Analysis. 29(September 2013), 107-118 Retrieved from http://www.sciencedirect.com/science/article/pii/S1057521913000471
[Journal article]Authored by: Ding, D.
Ding, D., & Charoenwong, C. (2013). Stock market reaction when listed companies in Singapore appoint female directors. International Journal of Management. 30(1 Part 2), 285-300 Retrieved from http://www.internationaljournalofmanagement.co.uk/subscriptions.html
[Journal article]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Wang, P. (2011). SEC rule 105 and price discovery in the seconary market. International Journal of Business and Economics. 3(1), 51-72
[Journal article]Authored by: Ding, D.
Charoenwong, C., Ding, D., & Pornsit, J. (2011). Corporate diversification, managerial ownership, and firm value: Evidence from the Thai financial crisis. Journal of Emerging Markets. 16(1), 7-30 Retrieved from http://new.stjohns.edu/academics/graduate/tobin/research/jem
[Journal article]Authored by: Ding, D.
Visaltanachoti, N., Charoenwong, C., & Ding, DK. (2011). Information asymmetry in warrants and their underlying stocks on the stock exchange of Thailand. Journal of Empirical Finance. 18(3), 474-487
[Journal article]Authored by: Ding, D., Visaltanachoti, N.
Charoenwong, C., Ding, DK., & Siraprapasiri, V. (2011). Adverse selection and corporate governance. International Review of Economics and Finance. 20(3), 406-420
[Journal article]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Jenwittayaroje, N. (2010). Price movers on the stock exchange of Thailand: Evidence from a fully automated order-driven market. The Financial Review. 45(3), 761-783 Retrieved from http://onlinelibrary.wiley.com/doi/10.1111/j.1540-6288.2010.00270.x/abstract
[Journal article]Authored by: Ding, D.
Kang, E., Ding, DK., & Charoenwong, C. (2010). Investor reaction to women directors. Journal of Business Research. 63(8), 888-894
[Journal article]Authored by: Ding, D.
Visaltanachoti, N., Charoenwong, C., & Ding, DK. (2008). Liquidity distribution in the limit order book on the stock exchange of Thailand. International Review of Financial Analysis. 17(2), 291-311
[Journal article]Authored by: Ding, D., Visaltanachoti, N.
Kester, GW., Anderson, MA., Dean, RA., Ding, DK., Plessis, AD., Hoover, SA., . . . Skully, M. (2008). The views of students outside the United States on the case method of learning. Journal of Financial Education: Advances Financial Education. 6, 147-158
[Journal article]Authored by: Ding, D.
McInish, TH., Ding, DK., Pyun, CS., & Wongchoti, U. (2008). Short-horizon contrarian and momentum strategies in Asian markets: An integrated analysis. International Review of Financial Analysis. 17(2), 312-329
[Journal article]Authored by: Ding, D., Wongchoti, U.
Ding, DK., McInish, TH., & Wongchoti, U. (2008). Behavioral explanations of trading volume and short-horizon price patterns: An investigation of seven Asia-Pacific markets. Pacific Basin Finance Journal. 16(3), 183-203
[Journal article]Authored by: Ding, D., Wongchoti, U.
Lim, CY., Thong, TY., & Ding, DK. (2008). Firm diversification and earnings management: Evidence from seasoned equity offerings. Review of Quantitative Finance and Accounting. 30(1), 69-92
[Journal article]Authored by: Ding, D.
Al Khazali, OM., Ding, DK., & Pyun, CS. (2007). A new variance ratio test of random walk in emerging markets: A revisit. The Financial Review. 42(2), 303-317
[Journal article]Authored by: Ding, D.
Ang, JS., & Ding, DK. (2006). Government ownership and the performance of government-linked companies: The case of Singapore. Journal of Multinational Financial Management. 16(1), 64-88
[Journal article]Authored by: Ding, D.
Ding, DK., & Charoenwong, C. (2006). Asian market microstructure. International Review of Financial Analysis. 15(4-5), 288-290
[Journal article]Authored by: Ding, D.
Ding, DK., Chua, JL., & Fetherston, TA. (2005). The performance of value and growth portfolios in East Asia before the Asian Financial Crisis. Pacific-Basin Finance Journal. 13(12), 185-199
[Journal article]Authored by: Ding, D.
Ding, D., Charoenwong, C., & Seetoh, R. (2004). Prospect theory, analyst forecasts, and stock returns. Journal of Multinational Financial Management. 14(4-5), 425-442 Retrieved from http://www.sciencedirect.com/science/article/pii/S1042444X04000118
[Journal article]Authored by: Ding, D.
Chung, KH., Charoenwong, C., & Ding, DK. (2004). Penny pricing and the components of spread and depth changes. Journal of Banking and Finance. 28(12), 2981-3007
[Journal article]Authored by: Ding, D.

Book

Ding, DKY. (2015). Why study finance – A professor’s perspective. In K. Viadya (Ed.) Finance for the Curious. (pp. 1 - 152). Australia: The Curious Academic Publishing
[Chapter]Authored by: Ding, D.
Charoenwong, C., Ding, DK., Jayapani, P., & Perrakis, S. (2012). The competitive behavior of commercial banks: Evidence from Thailand. In Thailand: Economic, Political and Social Issues.. (pp. 31 - 56).
[Chapter]Authored by: Ding, D.
Ding, DK., Charoenwong, C., & Jayapani, P. (2012). The competitive behavior of Thailand’s commercial banks. In Thailand: Economic, Political and Sicial Issues. (pp. 31 - 55). : Nova Science Publishers
[Chapter]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Yang, YC. (2013). Liquidity and crises in Asian equity markets. In K. Baker (Ed.) Market Microstructure in Emerging and Developed Markets. (pp. 407 - 424). : Wiley
[Chapter]Authored by: Ding, D.
Charoenwong, C., Ding, DK., Jayapani, P., & Perrakis, S. (2012). The competitive behavior of Thailand’s commercial banks. In RC. Zebioli (Ed.) Thailand: Economic, Political and Social Issues. (pp. 31 - 55). : NOVA Publishers
[Chapter]Authored by: Ding, D.

Conference

Li, X-M., Kleinbrod, V., & Ding, D.Technical analysis using order flow: A multivariate fuzzy approach. . Dunedin, NZ
[Conference Paper]Authored by: Ding, D., Li, X.
Ferreira, C., Ding, DKY., & Wongchoti, U.Corporate Social Responsibility: The Myopic Barometer?. . Orlando, U.S.A.
[Conference Paper]Authored by: Ding, D., Wongchoti, U.
Ferreira, C., Ding, DKY., & Wongchoti, U.Corporate Social Responsibility: The Myopic Barometer?. . Hangzhou, China
[Conference Paper]Authored by: Ding, D., Wongchoti, U.
Ding, DKY.Corporate Social Responsibility: The Myopic Barometer?. . Hamilton, New Zealand
[Conference Paper]Authored by: Ding, D.
Ferreira, ., Ding, DKY., & Wongchoti, U.The geography of corporate social responsibility. . Nashville, United States of America
[Conference Paper]Authored by: Ding, D., Wongchoti, U.
Ding, DKY.Does it pay to outclass? Corporate Social Responsibility and its impact on Firm Value. . Nashville, U.S.A.
[Conference Paper]Authored by: Ding, D.
Ferreira, C., Ding, DKY., & Wongchoti, .The Geography of Corporate Social Responsibility. . Maastricht, Netherlands
[Conference Paper]Authored by: Ding, D., Wongchoti, U.
Ferreira, C., Ding, DKY., & Wongchoti, U.Reading between the lines: Financial reporting, implied corporate social responsibility and corporate financial performance. . Auckland, New Zealand
[Conference Paper]Authored by: Ding, D., Wongchoti, U.
Wongchoti, U., Ferreira, C., & Ding, D. (2014). The geography of corporate social responsibility. 2014 European Financial Management Association Conference. (pp. 1 - 49). The Netherlands: 2014 European Financial Management Associaion Conference
[Conference Paper in Published Proceedings]Authored by: Ding, D., Wongchoti, U.
Ferreira, C., Ding, D., & Wongchoti, U. (2014). Reading between the lines: Financial reporting, implied corporate social responsibility and corporate financial performance. New Zealand Finance Colloquium 2014. (pp. 1 - 21). : New Zealand Finance Colloquium 2014
[Conference Paper in Published Proceedings]Authored by: Ding, D., Wongchoti, U.
Ding, DK., Ferreira, C., & Wongchoti, U.(2014). The Geography of CSR. . Tokyo, Japan
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Wang, P.(2013). Short sales constraint and SEO pricing. Paper presented at the meeting of International Review of Financial Analysis
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Yang, YC.(2013). Liquidity and Crises in Asian Markets. . Reading, UK
[Conference Paper]Authored by: Ding, D.
Ding, DK., Ferreira, C., & Wongchoti, U.(2013). Aiming for average. . Luxembourg
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Maysami, RC., & Ding, DK.(2013). Comparing Bank Valuation under the Conventional and Interest-Free Banking Systems. . Orlando, The United States of America
[Conference Paper]Authored by: Ding, D.
Ding, DK. (2012, December). Keynote Speech: Some thoughts on corporate social responsibility. Presented at World Finance and Banking Symposium: "Asian Finance & Banking"
[Conference Oral Presentation]Authored by: Ding, D.
Chareonwong, C., Ding, DK., & Visaltanachoti, N.(2012). Warrants and their underlying stocks: Microstructure evidence from an emerging market. . Busan, Korea
[Conference Paper]Authored by: Ding, D.
Ding, DK., Maysami, RC., & Charoenwong, C. (2012). The influence of the islamic profit and loss sharing scheme on return from investment and deposit accounts: An empirical study. In AC. Koy, & C. Ziemnowicz (Eds.) The Journal of International Business Research and Practice. Vol. 6 (pp. 122 - 127).
[Conference Paper in Published Proceedings]Authored by: Ding, D.
Ding, DK., Tse, Y., & Williams, M.(2012). The price discovery puzzle in offshore yuan trading: Different contributions for different contracts. Paper presented at the meeting of FMA International Annual Conference Programme Online. Atlanta, GA, United States
[Conference Paper]Authored by: Ding, D.
Molchanov, A., Durnev, A., & Garfinkel, J.(2012). Partisanship and corporate performance. . Auckland
[Conference Paper]Authored by: Molchanov, A.Edited by: Ding, D.
Charoenwong, C., Ding, DK., & Wang, P.Short Sales Constraint and SEO Pricing. . Valencia, Spain
[Conference Paper]Authored by: Ding, D.
Jenwittayaroje, N., Charoenwong, C., & Ding, DK.(2012). Trading costs on the stock exchange of Thailand. . Rio de Janeiro, Brazil
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Wang, P.(2012). Short sales constraint and SEO pricing. . Valencia, Spain
[Conference Paper]Authored by: Ding, D.
Ang, JS., Ding, DK., & Thong, TY.(2011). Political connection and firm value. . Wuhan, China
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Wang, P.(2011). SEC Rule 105 and price discovery in the secondary market. Paper presented at the meeting of 2011 FMA Annual Meeting. Denver, U.S.A
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, D., & Wang, P.(2011). SEC Rule 105 and price discovery in the secondary market. . Tibet, China
[Conference Paper]Authored by: Ding, D.
Ang, J., Ding, DK., & Thong, TY.(2010). Political connection and post-IPO firm values in Singapore. . New York, NY, United States
[Conference Paper]Authored by: Ding, D.
Kang, E., Ding, DK., & Charoenwong, C.(2009). Investor reaction to women directors in Singapore. . Reno, NV, United States
[Conference Paper]Authored by: Ding, D.
Ding, DK.(2009). Overview of Singapore and Hong Kong as regional financial centers in East Asia and their lessons to Busan. . Busan, Korea
[Conference Paper]Authored by: Ding, D.
Pan, J., Ding, DK., & Charoenwong, C.(2009). Insider trading and corporate spinoffs. . Reno, NV, United States
[Conference Paper]Authored by: Ding, D.
Pan, J., Ding, DK., & Charoenwong, C.(2008). Asymmetric information and conglomerate discount: Evidence from spinoffs. . Dalian, China
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Jenwittayaroje, N.(2008). Price movers on the stock exchange of Thailand: Evidence from a fully automated order-driven market. . Kaohsiung, Taiwan
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Maysami, RC., & Ding, DK. (2007). The influence of the Islamic Profit and Loss Sharing Scheme on return from investment and deposit accounts: An empirical study. In Proceedings of the Academic Business World International Conference 2007(pp. 266 - 266). : Academic Business World
[Conference Abstract]Authored by: Ding, D.
Charoenwong, C., Maysami, RC., & Ding, DK. (2007). The influence of the Islamic profit and loss sharing scheme on return from investment and deposit accounts: An empirical study. In Proceedings of the Academic Business World International Conference 2007(pp. 265 - 266). : Academic Business World
[Conference Abstract]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Jenwittayaroje, N.(2007). Which trade sizes move stock prices in a fully automated order-driven market? A case of the stock exchange of Thailand. . Chengdu, China
[Conference Paper]Authored by: Ding, D.
Pan, J., Ding, DK., & Charoenwong, C.(2007). Asymmetric information and conglomerate discount: Evidence from spinoffs. . Orlando, FL, United States
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Jenwittayaroje, N.(2007). The asymmetry of price behavior around buy and sell trades: New evidence on the stock exchange of Thailand. . Orlando, FL, United States
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Wang, P.(2006). The effect of short sales constraints on SEO pricing. . Salt Lake City, UT, United States
[Conference Paper]Authored by: Ding, D.
Ding, DK.(2006). Success factors of a regional financial center: The case of Singapore and Hong Kong. . Busan, Korea
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Wang, P.(2006). Manipulation in the options market around seasoned equity offerings. . Auckland, New Zealand
[Conference Paper]Authored by: Ding, D.
Charoenwong, C., Ding, DK., & Jenwittayaroje, N.(2006). Trading costs on the stock exchange of Thailand. . Auckland, New Zealand
[Conference Paper]Authored by: Ding, D.

Supervision and Teaching

Summary of Doctoral Supervision

Position Current Completed
Supervisor 1 1
CoSupervisor 0 1

Teaching

Responsible for teaching Financiel Management for the Masters in Professional Accounting and Finance (MPAF) program and Managerial Finance for Postgraduate Finance students.

Current Doctoral Supervision

Supervisor of:

  • Saba Sehrish - PhD
    Governance Structure and Mutual Fund Industry

Completed Doctoral Supervision

Supervisor of:

CoSupervisor of:

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