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Henry Leung

Henry Leung

BE (Hons I) BCom Sydney; MBus UTS; PhD Sydney
Associate Lecturer

Rm 445
H69 - Economics and Business Building
The University of Sydney
NSW 2006 Australia

Telephone +61 2 9114 0554
Fax +61 2 9351 6461
henry.leung@sydney.edu.au


Bio

Henry Leung worked as a senior business analyst at BT Financial Group, Deutsche Bank and Commonwealth Securities before joining the University. In the process, he has gained extensive knowledge and practical experience in the engineering of large scale trading and dealing systems covering foreign exchange, equities, fixed income and derivatives products. He graduated from the University with first class honours in Electrical Engineering and Commerce (major in finance and economics) and successively completed a Masters of Business in Finance at the University of Technology, Sydney in conjunction with full-time work. Henry was a recipient of the Faculty of Economics and Business Research Scholarship before obtaining his current teaching role. His research interests include analysts' earnings forecasts, earnings forecast analyst behaviour, corporate valuation and market microstructure.

The publication "Unequal access to analyst research" (Australian Journal of Management August 2013 38: 253-277) won the runner up E. Yetton Prize, which was inaugurated in December 1994 to celebrate the winning article published in the Journal in the previous year that, in the eyes of the Associate Editors, was of exceptional quality and was likely to have a substantial impact in the field of management research. Visit the Australian Journal of Management E. Yetton Prize webpage for information on the publication and prize.

Publications

2014

4
Journal Article/s

Leung H, Rose A and Westerholm J 2014 'Systematic Trading Behavior and the Cross-Section of Stock Returns on the OMXH', Review of Finance, vol.18:6, pp. 2325-74 Link

5
Conference Paper/s

Leung H, Schiereck S and Schroeder F 2014 Forthcoming 'International Volatility Spillover Across Exchange Rate Markets and Equity Markets During Financial Crises', World Finance & Banking Symposium, Singapore, 13th December 2014

2013

2
Book Section/s

Leung H 2013 'Security Analysts' Earnings Forecasts' in Techniques and Elements of Finance, McGraw-Hill Australia

4
Journal Article/s

Lepone A, Leung H and Li G 2013 'Unequal Access to Analyst Research', Australian Journal of Management, vol.38:2, pp. 253-77 Link

He WP, Lepone A and Leung H 2013 'Information Asymmetry and the Cost of Equity Capital', International Review of Economics and Finance, vol.27:June, pp. 611-20 Link

5
Conference Paper/s

Leung H, Rose A and Westerholm J 2013 'Modulated Investment Strategies During the Credit Crisis of 2007/2008 and the Cross-Section of Stock Returns: Fear or Greed?', 17th Annual European Conference of the Financial Management Association International FMA 2013, Luxembourg, 14th June 2013

2012

6
Conference Proceeding/s

Leung H, Westerholm J and Rose A 2012 'Informational Effect and Market Quality Impact of Crossed Trades and Fleeting Orders on the Australian Securities Exchange', Proceedings of the World Finance & Banking Symposium - "Asian Finance & Banking", Shanghai, China, 18th December 2012

2011

4
Journal Article/s

Leung H 2011 'Analysts Earnings Forecasts Distribution', International Journal of Banking and Finance, vol.8:3, pp. 37-53

Westerholm J and Leung H 2011 'Execution Costs of Market Designs Worldwide during the Global Credit Crisis', The Journal of Trading, vol.6:4, pp. 60-81 Link

Delort J, Arunasalam B, Leung H and Milosavljevic M 2011 'The Impact of Manipulation in Internet Stock Boards', International Journal of Banking and Finance, vol.8:4, pp. 1-18

5
Conference Paper/s

Westerholm J and Leung H 2011 'Execution Costs of Market Designs Worldwide During the Global Credit Crisis (Awarded Best Research Paper)', 19th Conference on the Theories and Practices of Securities and Financial Markets 2011, Kaohsiung, Taiwan, 10th December 2011

Leung H, Rose A and Westerholm J 2011 'Systematic Trading Behaviour and Cross-Sectional Stock Returns on the OMXH (Winner of the best paper presented by an established researcher prize)', Behavioral Finance and Capital Markets Conference, Adelaide, Australia, 16th September 2011

Westerholm J, Leung H and Rose A 2011 'Does systematic trading behaviour in different investor categories impact upon future stock returns? A study of investors in the Finnish market', Financial Management Association FMA European Conference 2011, Porto, Portugal, 10th June 2011

2010

5
Conference Paper/s

Leung H, Lepone A and Segara R 2010 'Information Asymmetry around Earnings Announcements in the Order Driven Market: Australian Evidence', 2nd Financial Management Association FMA International Annual Asian Conference 2010, Singapore Management University, Singapore, 16th July 2010

Westerholm J, Rose A and Leung H 2010 'Market Quality Externalities from Crossing and Internalization in a Limit Order Book market (ASX)', 8th INFINITI Conference on International Finance - "International Credit and Financial Market Integration: After the Storm?", Dublin, Ireland, 15th June 2010

2009

5
Conference Paper/s

Leung H 2009 'Analysts Earnings Forecasts Distribution Normality: An Empirical Investigation', 21st Asian-Pacific Conference on International Accounting Issues, Las Vegas, United States, 24th November 2009

Leung H 2009 'Analysts Earnings Forecasts Distribution Normality: An Empirical Investigation', 29th Annual International Symposium on Forecasting 2009, Hong Kong, (China), 24th June 2009

Leung H 2009 'Employment of Security Analysts Earnings Forecasts Mean or Median Consensus: A Big Mistake?', Contemporary Accounting Research and Journal of Contemporary Accounting and Economics Joint Symposium, Hong Kong, (China), 3rd January 2009

2006

6
Conference Proceeding/s

Leung H 2006 'Accuracy of security analysts' earnings forecasts: Distributions normality and a comparative analysis of distribution moments in the development of the surrogate consensus', Forecasting Challenges in a Changing World Environment - Proceedings of the 26th International Symposium on Forecasting (ISF), Santander, Spain, 14th June 2006

11
Seminar Paper/s

Leung H 2006 'Analysts Earnings forecast Distributions Normality: An Empirical Investigation., Discipline of Accounting Seminar, University of Sydney, Australia, 13 December 2006

Recent Units Taught