Dr Charlie X Cai
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Profile
Qualifications
2000-2004, Ph.D (full and part time) in Finance, Leeds University Business School, The University of Leeds, UK.
1999-2000, M.A. in Accounting and Finance, Leeds University Business School, The University of Leeds, UK.
1995-1999, B.A. in Economics, Guangdong University of Foreign Studies, China.
Experience
Charlie Xiaowu Cai holds the positions of Senior Lecturer in the Accounting and Finance Department and deputy director in the International Institute of Banking and Financial Services (IIBFS) at Leeds University Business School (LUBS) in the University of Leeds, UK. LUBS has one of the top Finance divisions in the UK and was given a rating of 5 by the UK Universities Funding Council in the previous Research Assessment Exercise (2007).
Charlie’s research interests are in the areas of financial economics, asset pricing and corporate governance. To date he has published 15 papers in refereed journals, three articles as part of books and four industrial reports. These referred papers are all in journals that would be rated international or national standard for Research Excellence Framework (REF).
Academic Employment
2008 to date, Senior Lecturer in Accounting and Finance
Deputy Director of International Institute of Banking and Financial Services
Leeds University Business School, the University of Leeds
2005 to 2008, Lecturer in Accounting and Finance
Leeds University Business School, the University of Leeds
2002 to 2005, Research Fellow
International Institute of Banking and Financial Services, The University of Leeds
2001-2002, Teaching Assistant
Leeds University Business School, the University of Leeds
Responsibilities
Administration
- Deputy Director of International Institute of Banking and Financial Services, 2009 - to date.
- Director of Postgraduate Finance Programmes, 2007- 2010.
- Member of Social Networking Group, LUBS, 2011-to date.
- Member of Academic Advisory Group for the University Information System Services. 2010.
- Faculty Representative of the University Committee for High Performance Computing, 2008 – 2010.
- Member of the working group of Virtual Learning Environment (VLE) and blended learning strategy for the Business School, 2007 – to date.
- PhD students’ coordinator for Centre for Advanced Studies in Finance (CASIF), 2005-2007.
Doctoral Supervisions
- Kadida Mashaushi, The Predictability of Asset Returns, (Graduated 2007, Now Head of Banking, Institute of Finance Management, Tanzania),
- Suntharee Lhaopadchan, Forecasting Volatility in the UK, (Graduated 2007, Now Head of Research, Kasetsart University, Thailand),
- Jacky Qi Zhang, Investor Behaviours and Post Event Drift (Graduated 2010, Now Lecturer in Leeds University Business School),
- Forrest Jun Wang, Interaction of Internal and External Corporate Governance Mechanisms (Final Year).
- Minjoo Kim, Finance Applications of Functional Form Autoregressive Modelling (Final Year).
- Thang Nguyen, Diversification and Corporate Liquidity (Second Year).
Research
Charlie’s research interests are in the areas of financial economics, asset pricing and corporate governance. To date he has published 15 papers in refereed journals, three articles as part of books and four industrial reports. These referred papers are all in journals that would be rated international or national standard for Research Excellence Framework (REF).
Charlie’s research career started from his PhD on the market microstructure of London Stock Exchange, a research journey that taught him the foundation of financial market and provided him with solid empirical modelling skills. His early success in his work earned him a research post in IIBFS two years before his PhD graduation. Since then he broadened his research interest into asset pricing, corporate governance and banking. As he became a mature researcher, Charlie focus his research on issues are important not only academically but also socially. His recent research focus is in the area of limited arbitrage, systemic risk and corporate governance in emerging economy, all of which are important elements in the current global financial system. Charlie’s informed research is benefitted from his active research collaboration with scholars from a wide range of academic, industrial and regulatory organizations.
Charlie’s contributions are recognized by the academic and practitioners. He was invited to give a lecture on risk aggregation in an annual meeting of the Institute of Quantitative Investment Research (INQUIRE). He was invited to edit a special issue for the Journal of Financial Regulation and Compliance on Asian Financial Market. Recently, he received a grant funding of £30,000 from the University of International Business and Economics, Beijing, China for a research project on Chinese Private Equity research.
Charlie has developed a substantial amount of skills and knowledge in the specific areas of Financial Economics, nonlinear Econometrics, and Computer Modelling. He is an advanced user of the SAS system, Visual-Basic and large database management in SQL Server. He is skillful in pulling data from major financial databases such as Bankscope, Datastream, WRDS, etc. These research and computer skills have become very important assets in enhancing Charlie’s research and teaching practice.
Charlie has worked outside the School as a research consultant and he is committed to sourcing research links with other disciplines and academic institutions worldwide.
View my research on my SSRN Author page
Teaching
LUBS 5038M Security Market Microstructure
LUBS 5052M International Investment
LUBS 1910 Computing for Accounting
LUBS 1030 Understanding Finance
Student feedback
- “Very friendly and enthusiastic teaching staff liked him a lot!”
- “The teaching materials were of a high standard and also the lecturer was very enthusiastic about the module. Course content was intellectually stimulating. The city game was also interesting.”
- “Charlie's site and predict city game help a lot in understanding investment altogether, predict city helps in understanding trading rules.”
- “Charlie is exceedingly amazing!”
- “I was very satisfied with the quality of the module and the dedication of the lecturers to provide a good sound environment for learning”
E-Learning
- An enthusiast of technology and keen to apply technology in everyday life and work. A pioneer of e-learning in LUBS.
- Introduced electronic assessment submission for Computing for Accounting course (2005),
- Introduced online interactive learning for Computing for Accounting course (2005),
- Introduced web exercises and trading games for teaching investment and financial market courses (2006 – to date).
- Awarded a grant (£3160) to develop an e-game in finance teaching to the Business Management Accountancy and Finance Subject Centre, the Higher Education Academy, UK (July 2008).
- Been a member of the working group of Virtual Learning Environment (VLE) strategy for the Business School, 2007 – to date.
- Been a member of University Academic Advisory Panel on the Information System Services (ISS) review (2010 ).
- Develop a TextVoting technology for class room interaction using mobile technology.
View my website for teaching resource such as video demo, excel downloads and trading games
Publications
Microstructure of Financial Markets, Asset Pricing, Corporate Governance, Computational Finance, and Emerging Markets.
2011, The Determinants of Market Co-integration: A Study of Cross-Listed Chinese A- and H-Share Issuers, (with Q. Zhang, P. McGuinness), Journal of Banking and Finance, Vol. 35, 2123-2136.
2010, The Impact of Information on the Component Structure of Intraday Return Distributions: A Research Note, (with K. Keasey, G. Tian) Applied Financial Economics, Vol. 20, No. 4, 2010.
2009, Forecasting using High-Frequency Data: A Comparison of Asymmetric Financial Duration Models (with J.Q. Zhang, and K. Keasey), Journal of Forecasting, 28, 5, 371-464, 2009.
2009, Chinese investment goes global: the China Investment Corporation, (with I. Clacher), Journal of Financial Regulation and Compliance, Vol 17, 1, pp. 9-15, 2009.
2008, Trading Frictions and Market Structure: An Empirical Analysis, (with D. Hillier, R. Hudson, and K. Keasey), Journal of Business Finance and Accounting, Vol 35, Issue 3-4, pp 563-579, 2008.
2007, Price Clustering and Culture Preference in Chinese Stock Markets, (with B. Cai and Kevin Keasey). Accounting & Finance, Vol. 47, No. 4, pp. 623-641, December 2007
2007, Exploring the Link between Information Quality and Systematic Risk, (with R. W. Faff, D. Hillier, and S. Mohamed), Journal of Financial Research 30:3, 335-353, 2007.
2007, Corporate Governance and Information Efficiency in Security Markets: Results for ‘Smaller Cap’ Companies in the UK, (with H. Short and K. Keasey), European Financial Management 13:1, 763-787, 2007.
2007, A New Test of Signalling Theory, (with D. Duxbury and K. Keasey), Finance Letters, Vol. 5, No. 2, pp. 1-5, 2007
2006, Which Trade Move Prices in Emerging Market: Evidence from China’s Stock Market (with B. Cai and Kevin Keasey), Pacific-Basin Finance Journal 14:5, 453-466, 2006.
2006, Modelling Return and Volatility Exposures in Global Stock Markets, (with R. W. Faff, D. Hillier, and M D. McKenzie), Review of Quantitative Finance and Accounting 27:2, 125-142, 2006.
2005, The Predictive Ability and Profitability of Technical Trading Rules: Does Company Size Matter? (with J. Bokhari, R. Hudson and K. Keasey), Economic Letters, 86, 21 -27, 2005.
2005, Market Efficiency and Returns to Simple Technical Trading Rules: Further Evidence from US, UK, Asian and Chinese Stock Markets, (with B. Cai and K Keasey), Asia-Pacific Financial Market 12:1, 45-60, 2005.
2004, Intra Day Bid-Ask Spreads, Trading Volume and Volatility: Recent Empirical Evidence from the London Stock Exchange, (with R. Hudson and K. Keasey), Journal of Business Finance and Accounting, vol. 31, iss. 5-6, pp. 647-676, June 2004.
2003, Trading Frequency and the Compass Rose: A Note, (with R. Hudson and K. Keasey), Applied Economic Letters, vol. 10, pp. 511-517. 2003.
2009, Information Transmission across Stock and Bond Markets: International Evidence, (with R. Faff, D. Hillier and S. Lhaopadchan), Handbook of Volatility, Edited by Greg N. Gregoriou, forthcoming 2009.
2008, A Practical Guide to Gold as an Investment Asset, (with I. Clacher, R. Faff and D. Hillier), the Handbook of Commodity Investing, Edited by Frank Fabozzi, Roland Fuess, and Dieter G. Kaise, 2008, John Wiley & Sons, New Jersey.
2005, Intra day Bid-Ask Spreads, Trading Volume and Volatility, (with R. Hudson and K. Keasey), The UK Stock Market Almanac, 2005, Harriman House Publishing, 2005.
2009, The Use of Real-life News/Event Based E-Games in Supporting Learning and Teaching in Finance, the BMFA magazine, issue 9, 2010.
2008, Chinese Sovereign Wealth: The Rise of the China Investment Corporation, Part of the The Future of Asian Financial Centres – Challenges and Opportunities for the City of London, Report for the City of London (Oct 2008), (With I. Clacher).
2007, Financial Services Survey for UK Family Firms (with K. Keasey and D. Hillier). International Institute of Banking and Financial Services, the University of Leeds, UK, 2007.
2000, Dotcom IPO: Valuation and Underpricing (with K. Keasey), executive report: no 39, International Institute of Banking and Financial Services, the University of Leeds, UK, 2000.
View my research on my SSRN Author page