David Ng

Biography

David Ng is a Professor of Finance. He served as a visiting associate professor of finance at the Wharton School of the University of Pennsylvania from 2008 to 2010. Professor Ng conducts research in empirical finance. In particular, he studies fund flows and examines how they affect asset prices domestically and internationally. Recently, he conducts research on how climate change affects financial market outcomes.

Prof Ng has received numerous honors, including the Best Paper Award in the Northern Finance Association 2019, Best Paper Award in Geneva Summit for Sustainable Finance 2018, Research Award in International Center for Pension Management 2018, Best Paper in Corporate Finance Award in Eastern Finance Association 2016, Best Paper Award in Conference on Asian-Pacific Financial Market 2013, Second-place Best Paper Award in China International Conference of Finance 2004, Third-Place award in Chicago Quantitative Alliance 2003, and the Moskowitz Prize for the Best Study on Socially Responsible Investing 2002. He has also received Chancellor's Award for Excellence in Teaching in 2008 and an Outstanding Educator Award in Influencing a Merrill Scholar in 2005. He serves as associate editor of three journals: Review of Financial Economics, Accountability in a Sustainable World, and China Finance Review International. Outside of work, he and his family stay active in the community, including attending a local church. Ng received his PhD in economics with distinction from Columbia University, where he also attended as an undergraduate.

Selected Publications

• Addoum, Jawad; Ng, David; Ortiz-Bobea, Ariel. "Temperature Shocks and Industry Earnings News"Journal of Financial Economics. 150.1 (2023): 1-45
• Gao, George; Ma, Qingzhong; Ng, David; Wu, Ying. "The Sound of Silence: What Do We Know When Insiders Do Not Trade?"Management Science. 68.7 (2022): 4835-4857
• Addoum, Jawad; Ng, David; Ortiz-Bobea, Ariel. "Temperature Shocks and Establishment Sales"Review of Financial Studies. 33.3 (2020): 1331-1366
• Karolyi, G. Andrew; Ng, David; Prasad, Eswar. "The Coming Wave: Where Do Emerging Market Investors Put Their Money?"Journal of Financial and Quantitative Analysis. 55.4 (2020): 1369-1414
• Goldstein, Itay; Jiang, Hao; Ng, David. "Investor Flows and Fragility in Corporate Bond Funds"Journal of Financial Economics. 126.3 (2017): 592-613
• Bartram, Söhnke; Griffin, John; Lim, Tae-Hoon; Ng, David. "How Important Are Foreign Ownership Linkages for International Stock Returns?"Review of Financial Studies. 28.11 (2015): 3036–3072
• Li, Yan; Ng, David; Swaminathan, Bhaskaran. "Predicting Market Returns Using Aggregate Implied Cost of Capital"Journal of Financial Economics. 110.2 (2013): 419-436
• Bailey, Warren; Kumar, Alok; Ng, David. "Behavioral Biases of Mutual Fund Investors"Journal of Financial Economics. 102.1 (2011): 1-27
• Lee, Charles; Ng, David; Swaminathan, Bhaskaran. "Testing International Asset Pricing Using Implied Cost of Capital"Journal of Financial and Quantitative Analysis. 44 (2009): 307-335.
• Bailey, Warren; Kumar, Alok; Ng, David. "Foreign Investments of U.S. Individual Investors: Causes and Consequences"Management Science. 54.3 (2008): 443-459

Awards and Honors

• Best Paper Award (2019) Northern Finance Association Annual Conference
• Best Paper Award (2018) Geneva Summit for Sustainable Finance
• Research Award (2018) International Center for Pension Management, University of Toronto
• Best Paper in Corporate Finance Award (2016) Eastern Finance Association
• Best paper award (2013) Conference on Asia-Pacific Financial Markets

Recent Courses

• AEM 4681 - Impact Finance
• BANA 5060 - Introduction to Finance Analytics
• NRE 5280 - PhD Seminar in Empirical Asset Pricing
• AEM 4280/AEM 5280 - Valuation of Capital Investment

Academic Degrees

• PhD Columbia University, 2000
• PhM Columbia University, 1997
• BA Columbia University, 1993