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Dr Wei-Huei Hsu PhD

Senior Lecturer

School of Economics and Finance

Wendy’s research focuses on the actions of third-party certifier/monitors, such as credit rating agencies, banks and private equity firms, and how the market responds to these actions or events. The papers have been published in Journal of Economics and Finance and Studies in Economics and Finance, and presented in FMA Annual Meetings and Asian FA conferences. The paper “Lead bank quality and adverse rating announcements” was awarded yearly "Highly Commended Award Winner" in 2011 at the Literati Network Awards for Excellence of Studies in Economics and Finance. Wendy’s teaching includes Fundamentals of Finance and Corporate/Managerial Finance.

Wendy received her PhD in finance from Massey University in 2005, and joined the school in 2006. Her PhD thesis examines the value of rating agencies. Her papers have been published in the Journal of Economics and Finance and Studies in Economics and Finance, and presented in FMA Annual Meetings and Asian FA conferences.

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Professional

Contact details

  • Ph: 62554
    Location: C25, Building 5
    Campus: Wellington

Qualifications

  • Doctor of Philosophy - Massey University (2006)

Research Expertise

Research Interests

Impact of various corporate events on the firm value (event study); industry contagion effect; value of third-party certifier/monitors (credit rating agencies, bank, private equity firms and venture capitalists).

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)

Research Projects

Summary of Research Projects

Position Current Completed
Project Leader 0 1

Research Outputs

Journal

Phung, TMT., Hsu, WH., Naylor, MJ., & Young, MR. (2022). Perceived risk and debt behaviour in the stock market: A survey of investors in Vietnam. Cogent Economics and Finance. 10(1)
[Journal article]Authored by: Hsu, W., Young, M.
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Zaharudin, KZ., Young, MR., & Hsu, WH. (2022). High-frequency trading: Definition, implications, and controversies. Journal of Economic Surveys. 36(1), 75-107
[Journal article]Authored by: Hsu, W., Young, M.
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Hsu, W-H., Owen, S., & Jo‐Ann, S. (2020). The value of ongoing venture capital investment to newly listed firms. Accounting and Finance. 60(2), 1327-1349 Retrieved from https://onlinelibrary.wiley.com/doi/10.1111/acfi.12457
[Journal article]Authored by: Hsu, W.
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Chang, YY., & Hsu, WH. (2018). The Best of Times, the Worst of Times: Testing which Behavioral Biases Affect Analyst Forecasts. International Review of Finance. 18(4), 637-688
[Journal article]Authored by: Chang, Y., Hsu, W.
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1
Hsu, WH., Mamun, A., & Rose, LC. (2010). Size does matter! The intra-industry effect of bank loan ratings. Applied Financial Economics. 20(23), 1807-1818
[Journal article]Authored by: Hsu, W.
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Hsu, WH., Mamun, A., & Rose, LC. (2010). Lead bank quality and adverse rating announcements. Studies in Economics and Finance. 27(4), 340-357
[Journal article]Authored by: Hsu, W.
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Meyer, TO., Hsu, WH., & Elayan, FA. (2006). The valuation effects of bank loan ratings in the presence of multiple monitors. Journal of Economics and Finance. 30(3), 325-346
[Journal article]Authored by: Hsu, W.
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Elayan, FA., Hsu, WH., & Meyer, TO. (2003). The informational content of credit rating announcements for share prices in a small market. Journal of Economics and Finance. 27(3), 337-356
[Journal article]Authored by: Hsu, W.
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Thesis

Hsu, WH. (2005). The interrelationships between rating agencies, banks and investors. (Doctoral Thesis, Massey University)
[Doctoral Thesis]Authored by: Hsu, W.

Conference

Hsu, WH., Naylor, M., & Allen-Browne, B.The characteristics of risk perception: advisers vs. clients. . Sydney, Australia
[Conference Paper]Authored by: Hsu, W.
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Hsu, WH., & Young, M.Monitors or certifiers? Different roles of private equity firms at different timing of investments. . Auckland, New Zealand
[Conference Paper]Authored by: Hsu, W., Young, M.
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Hsu, WH.Intra-industry effect of private equity investments in China. . Sydney, Australia
[Conference Paper]Authored by: Hsu, W.
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Chang, Y., & Hsu, W.(2016). Mood and analyst optimism and accuracy. Paper presented at the meeting of https://acfr.aut.ac.nz/conferences-and-events/past-conferences-and-events/auckland-finance-meeting2/2016/academic-programme. Auckland, New Zealand
[Conference Paper]Authored by: Chang, Y., Hsu, W.
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Chang, Y., & Hsu, W.Mood and analyst optimism and accuracy. . Bangkok, Thailand
[Conference Paper]Authored by: Chang, Y., Hsu, W.
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Chang, Y., & Hsu, W.Mood and analyst optimism and accuracy. . Sydney, Australia
[Conference Paper]Authored by: Chang, Y., Hsu, W.
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Hsu, WH., Wang, N., & Young, M.(2011). The impact of investment by private equity firms. . Las Vegas, NV, USA
[Conference Paper]Authored by: Hsu, W., Young, M.
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Hsu, WH., & Luo, S.(2011). The intra-industry effects of private equity investments in China. . Macao, China
[Conference Paper]Authored by: Hsu, W.
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Hsu, WH., Mamun, AA., & Rose, LC. (2007). The role of bank quality in mitigating the market reaction to adverse rating agency announcements concerning bank loans. Financial Management Association (FMA) Annual Meeting. (pp. unpaged - 27).
[Conference Paper in Published Proceedings]Authored by: Hsu, W.
Hsu, WH.(2006). Discussant: 'The real impact of stock market mispricing - Evidence from Australia'. . Auckland, NZ
[Conference Other]Authored by: Hsu, W.
Hsu, WH.(2006). Discussant: 'The secondary market for life insurance: An evaluation of life settlements'. . Salt Lake City, UT
[Conference Other]Authored by: Hsu, W.
Hsu, WH., Mamun, AA., & Rose, LC. (2006). The intra-industry effect of bank loan ratings. Financial Management Association Annual Meeting.
[Conference Paper in Published Proceedings]Authored by: Hsu, W.
Hsu, WH., Mamun, AA., & Rose, LC.(2006). The intra-industry effect of bank loan ratings. . Salt Lake City, UT
[Conference Paper]Authored by: Hsu, W.
Hsu, WH., Mamun, AA., & Rose, LC. (2006). The intra-industry effect of bank loan ratings. 17th Asian Financial Association/FMA Meeting: Proceedings.
[Conference Paper in Published Proceedings]Authored by: Hsu, W.
Hsu, WH., Mamun, AA., & Rose, LC.(2005). Sustained by a good lender from the bad news?. Paper presented at the meeting of Academy of Financial Services Conference. Chicago, Illinois, The United States of America
[Conference Paper]Authored by: Hsu, W.
Elayan, FA., Hsu, WH., & Meyer, TO. (2005). The valuation effects of bank loan ratings in the presence of multiple monitors. In ML. Ed (Ed.) New Zealand Finance Colloquium: Proceedings. (pp. unpaged). Wellington, NZ: 9th New Zealand Finance Colloquium
[Conference Paper in Published Proceedings]Authored by: Hsu, W.
Hsu, WH. (2005, December). The value of the bank loan ratings for firms affecting Uganda's cotton exports. Presented at Beijing International Conference on Applied Business Research. Beijing, China.
[Conference Oral Presentation]Authored by: Hsu, W.
Hsu, WH., Mamun, MA., & Rose, LC. (2005, October). Sustained by a good lender from the bad news?. Presented at Academy of Financial Services Conference. Chicago, IL.
[Conference Oral Presentation]Authored by: Hsu, W.
Hsu, WH., Mamun, AA., & Rose, LC. (2005). Sustained by a good lender from bad news?. 16th Asian Finance Association Conference. (pp. unpaged). Kuala Lumpur, Malaysia
[Conference Paper in Published Proceedings]Authored by: Hsu, W.
Elayan, FA., Hsu, WH., & Meyer, TO. (2004). The valuation effects of multiple credit agency ratings for bank loans. Financial Management Association Annual Meeting. (pp. unpaged). [online]
[Conference Paper in Published Proceedings]Authored by: Hsu, W.
Meyer, TO., Elayan, FA., & Hsu, WH. (2001, February). The information effect of credit rating assignments and changes on share prices in a small market. Presented at 5th Annual New Zealand Finance Colloquium. University of Otago, Dunedin: NZ.
[Conference Oral Presentation]Authored by: Hsu, W.

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Other

Chang, Y., & Hsu, W. (2017, June). Gender and analysts' sentiment sensitivity. Presented at School of Economics and Finance, Massey Business School, Palmerston North.
[Oral Presentation]Authored by: Chang, Y., Hsu, W.
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Hsu, W., Naylor, M., & Allen-Browne, B. (2016, August). Does a financial education change gender risk aversion?. Presented at Palmerston North, New Zealand.
[Oral Presentation]Authored by: Hsu, W.Contributed to by: Hsu, W.
Chang, Y., & Hsu, W. (2015, June). Mood and Analyst Optimism and Accuracy.
[Oral Presentation]Authored by: Chang, Y., Hsu, W.
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Allen-Brown, B. (2015). Do authorised financial advisers and retail investors think and act alike?.
[Working Paper]Authored by: Hsu, W.Contributed to by: Hsu, W.
Hsu, WH., Owen, S., & Suchard, JA.The value of ongoing venture capital investment to newly listed firms.
[Oral Presentation]Authored by: Hsu, W.
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Hsu, WH., Mamun, AA., & Rose, LC. (2005). Sustained by a good lender from bad news?. In The 16th Asian Finance Association Conference.
[Oral Presentation]Authored by: Hsu, W.
Elayan, FA., Hsu, WH., & Meyer, TO. (2004). The valuation effects of bank loan ratings in the presence of multiple monitors. In Department of Commerce Working Paper Series: Massey University, Department of Commerce
[Working Paper]Authored by: Hsu, W.
Elayan, FA., Hsu, WH., & Meyer, TO. (2001). The information effect of credit rating assignments, CreditWatch placements and rating changes on share prices in a small market. In Department of Commerce Working Paper Series: Massey University, Department of Commerce
[Working Paper]Authored by: Hsu, W.
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Teaching and Supervision

Teaching Statement

Paper taught: 115.105 Fundamentals of Finance, 125.230 Corporate Finance, 125.241 Introduction to Investments, 125.330 Advanced Corporate Finance, 125.340 Investment Analysis, 125.700 Managerial Finance.

Contact Supervisor

Summary of Doctoral Supervision

Position Current Completed
Co-supervisor 0 2

Completed Doctoral Supervision

Co-supervisor of:

  • 2023 - Khairul Zaharudin - Doctor of Philosophy
    Essays on High-frequency Trading
  • 2020 - Trang Phung - Doctor of Philosophy
    Perceived Risk, Risk Tolerance and Trust in Debt Decisions