Dr Maggie Hao staff profile picture

Contact details +64 (04) 801 5799  ext. 63563

Dr Maggie Hao


School of Economics and Finance

Maggie received her PhD from Massey University in 2016 and joined Business School in 2017. One of her PhD thesis papers has been published in Journal of Banking and Finance. Her current research interests lie in the areas of stock price informativeness, asset pricing and corporate finance. 



Contact details

  • Ph: 63563
    Location: 5C21
    Campus: Wellington

Research Expertise

Research Interests

Stock price informativeness

Signalling effect in corporate finance


Design – for Commerce, Community and Culture

Area of Expertise

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

Research Outputs


Devos, E., Hao, W., Prevost, AK., & Wongchoti, U. (2015). Stock return synchronicity and the market response to analyst recommendation revisions. Journal of Banking and Finance. 58, 376-389
[Journal article]Authored by: Hao, W., Wongchoti, U.


Hao, W. (2016). R² and Stock Price Informativeness: New Empirical Evidence. (Doctoral Thesis, Massey University)
[Doctoral Thesis]Authored by: Hao, W.


Hao, W.Stock return synchronicity and price informativeness: Evidence from the corporate bond market.. . Las Vegas, United States of America
[Conference Paper]Authored by: Hao, W.Edited by: Wongchoti, U.
Hao, W., wongchoti, U., & Young, M.Price informativeness, market expectation and empirical finance. . Seoul, South Korea
[Conference Paper]Authored by: Hao, W., Wongchoti, U., Young, M.
Hao, W., Wongchoti, U., Chen, J., & Young, M.R² and the corporate signaling effect.. . Sydney, Australia
[Conference Paper]Authored by: Chen, J., Hao, W., Wongchoti, U., Young, M.

Supervision and Teaching

Summary of Doctoral Supervision

Position Current Completed
Co-supervisor 1 0

Current Doctoral Supervision

Co-supervisor of:

  • Sulu Manu O'Uiha - Doctor of Philosophy
    CEO incentives and corporate behaviour The liquidity of stocks is an important concern for many investors. Empirical evidence show greater investor preference for liquid stocks. Two main views of liquidity commonality exist: the demand-side vs the supply-side theories. Liquidity commonality on the demand-side theory is linked closely with the behavior of Investors and Traders. On the supply-side, liquidity commonality is due the sharing of information by liquidity providers and capital constraints. Whether the reaction of liquidity providers to market fear reflects their rational, optimizing behavior or irrational overreaction to market volatility is an area for further research. To do this, I will explore the plethora of literature that has examined the anticipated volatility of the financial market. I will test the market using the Chicago Board Options Exchange Market Volatility Index (VIX) in the US and/or the VHS Index in Hong Kong. The research builds on proven historical evidence linking mechanisms of market volatility to changes in the VIX Index. For example, monthly changes in aggregate bond market liquidity are strongly related to changes in VIX. Also, a strong correlation exists between sovereign credit spreads and VIX. Further, market liquidity decreases with VIX because higher volatility reduces market markers liquidity-provision capacity.

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