Wai-Sum CHAN  陳 偉森教授

BBA, MPhil(CUHK); MSc, PhD(Temple); FSA; HonFIA; CERA; CStat

Professor of Finance, CUHK Business School


Room 1226, Cheng Yu Tung Building, Shatin




(852) 3943-7715


(852) 2603-6586


Professional Qualifications

Editorial Duties

Teaching Awards

Research Awards

  • The 2006 Edward A. Lew Research Award (Second Prize), the Committee on Knowledge Extension Research (CKER) of the Society of Actuaries, USA

Research Interests

  • Modelling of Actuarial Assumptions
  • Law and Actuarial Science
  • Financial Econometrics
  • Clinical Statistics

Recent GRF Research Grants

  • Contributing to the Development of Hong Kong into a Global Fintech Hub, Theme-based Research Scheme, (HK$18,593,000), Co-Investigator, 2018.                                                                                                                                                                                                                                                                                                            
  • On Temporal Aggregation of Some Non-Linear Time-Series Models, (HK$513,216), Principal Investigator, 2017.                                                                                                                                                                                                                                           
  • Further Reforms in Hong Kong’s Personal Injury Compensation: An Inquisitive Perspective, (HK$590,500),Co-Investigator, 2016.                                                                                                                              
  • Investment Pattern and Performance of Mandatory Provident Fund Scheme Members: A Historical Administrative Record Analysis (HK$336,390),  Co-Investigator, Public Policy Research (PPR) Grant, 2016.
  • Combating in-work Poverty in Hong Kong, (HK$968,000), Co-Investigator, 2015.                                                                                                                                                                                                                                                  
  • How to Increase the Demand for Annuity in Hong Kong: A Study of Middle-Aged Adults (HK$767,917.10), Co-Investigator, Public Policy Research (PPR) Grant, 2014.                                                                                                                                   
  • Universalism or Means-tested Benefits for Children and Single Mothers, (HK$1,592,500), Co-Investigator, 2013.                                                                                                                                                                                                                                                  
  • On Robust Tests for Nonlinearity in Multivariate Time-Series Analysis (HK$345,436), Principal Investigator, 2012.                                                                   
  • One Country, Two Systems and Three Disciplines: Interdisciplinary Research of Law, Economics and Actuarial Mathematics in Assessment of Personal Injury Damages in the People's Republic of China (HK$440,550), Co-Investigator, 2012.
  • Actuarial Assessment of Damages in Personal Injury Litigations --- How Precise Are We? (HK$219,000), Co-Investigator, 2008.  

  • Long-term care cost drivers and expenditure projection to 2033 (HK$272,000),  Co-Investigator, Public Policy Research (PPR) Grant, 2006.
  • Disturbances and shifts in human longevity trend: implications for planning health services and financing retirement security (HK$406,464), Principal Investigator, 2005.
  • A study on a financially sustainable retirement protection system in Hong Kong (HK$993,384), Co-Investigator, 2005.



  1. 金融與保險精算數學》, 著者﹕陳偉森、謝 耀權,機械工業出版社,20094月。

  2. Financial Mathematics for Actuaries [with Y.K. Tse], Third Edition, World Scientific Publishing Company, 2021, pp.xx+345.
  3. Financial and Actuarial Mathematics [with Y.K. Tse], McGraw Hill, 2007, pp.xvi+335.  
    (Cover Pages, Preface, About the Authors, Table of Contents) 
  4. Personal Injury Tables Singapore 2021 - Tables for the Calculation of Damages [with Chan FHW and Li JSH], Sweet & Maxwell Asia, 2021. 
  5. Personal Injury Tables Hong Kong 2019 - Tables for the Calculation of Damages (Fourth Edition) [with Chan FHW and Li JSH; General Editor: N Sarony, QC, SC], Sweet & Maxwell Asia, 2019, pp.xvii+80.  
  6. Butterworths Hong Kong Personal Injury Service (Looseleaf Set), Section V (Quantum of Damages) [Contributors: Chan FHW and Chan WS], LexisNexis Hong Kong, 2021.
  7. Statistics and Finance: An Interface (edited with H. Tong and W.K. Li), Imperial College Press, U.K., 2000 (22 chapters, pp. x+384). 

Journal Articles

    *** Articles in Press ***

    *** 2022 ***

  1. Wang, D. and Chan, W.S. "Backcasting Mortality in England and Wales, 1600-1840, " North American Actuarial Journal, 26(1), 102-122.                                                                                                                                                              
  2. Chan, W.S. "On Temporal Aggregation of Some Nonlinear Time-Series Models," Econometrics and Statistics, 21-38-49.                                                                                                                                                                     

    *** 2021 ***

  3. He, A.J., Qian, J., Chan, W.S. and Chou, K.L. "Preferences for Private Long-term Care Insurance Products in a Super-Ageing Society: A Discrete Choice Experiment in Hong Kong," Social Science and Medicine, 270, 113632.                                                                                                                                                                                                                                                                                                                                                                                  
  4. Tian, Y-Z., Tang, M-L., Chan, W.S. and Tian, M-Z. "Bayesian Bridge-Randomized Penalized Quantile Regression for Ordinal Longitudinal Data, with Application to Firm’s Bond Ratings," Computational Statistics, 36, 1289-1319.                                                                                                                                                                                                                                                                                                                                                                                                                                                               
  5. Kwong, K.S., Tse, Y.K. and Chan, W.S. "Singapores LIFE Program: Actuarial Framework, Longevity Risk and Impact of Annuity Fund Return," Singapore Economic Review, 66(5), 1355-1371.                                                              

    *** 2020 ***

  6. Chan, F.W.H., Chan, W.S. and Li, J.S.H. "How Much Is A Leg Worth in Hong Kong? Proposal for Reforming," Hong Kong Law Journal, 2020, 50(3), 983-1004.                                                                                                                       

    *** 2019 ***

  7. Li, J.S.H., Zhou, Z.Q., Zhu, X., Chan, W.S. and Chan, F.W.H. "A Bayesian Approach to Developing a Stochastic Mortality Model for China," Journal of the Royal Statistical Society: Series A2019, 182(4), 1523-1560.                                                                                                                                                                                                                                                                                                
  8. Kwong, K.S., Chan, W.S. and  Li, J.S.H. "Actuarial Modeling and Analysis of the Hong Kong Life Annuity Scheme, " Asia-Pacific Journal of Risk and Insurance, 2019, 14(1), 1-12.                                                                                                                                                                                                                                                                                                           
  9. Lee, S.Y., Chou, K.L.,  Chan, W.S. and van Kippersluis, Hans. "Consumer Preferences and Demand for Annuities: Evidence from Hong Kong," Journal of Aging and Social Policy, 2019, 31(2), 170-188.                                                                                                                                                                                                                                                                              
  10. Cheung, K.C.K., Chan, W.S. and Chou, K.L. "Material Deprivation and Working Poor in Hong Kong," Social Indicators Research, 2019, 145(1), 36-66.                                                                                                                                                                                                                                                                                                      
  11. Chan, K.L.T. and Chan W.S. "Developing an Optimal Strategy for a Maximization Dice Game," College Mathematics Journal, 2019, 50(4), 272-279.                                                                      

    *** 2018 ***

  12. Cheung, K.C.K., Chan, W.S., Chou, K.L. and Lau, M.K.W. "Evaluating the Effectiveness and Efficiency of Hong Kong Welfare Programs in Reducing Child Poverty," Children & Society, 2018, 32, 481-491.                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  13. Kang, M., Liu Y., Li, J.S.H. and Chan, W.S. "Mortality Forecasting for Multiple Populations: An Augmented Common Factor Model with a Penalized Log-Likelihood," Communications in Statistics -- Case Studies and Data Analysis, 2018, 4, 118-141.                   

    *** 2017 ***

  14. Chu, C.W., Chan, K.L.T., Chan, W.S. and Kwong, K.S. "Multiple-Solution Problems in a Statistics Classroom: An Example," International Journal of Mathematical Education in Science and Technology, 48(8), 2017, 1249-1261.                                                                                                                                                                                                                                                                                                                                                                                                                             
  15. Chan, F.W.H., Chan, W.S. and Li, J.S.H. "Assessing Personal Injury Liabilities in China from National to Provincial Level: An International Comparative Analysis, " Asian Journal of Law and Economics, 2017, 8(2), 1-20.                                                                                                       

  16. Li, J.S.H., Chan, W.S. and Zhou, R. "Semi-Coherent Multi-Population Mortality Modeling: The Impact on Longevity Risk Securitization," Journal of Risk and Insurance,  2017, 84(3), 1025-1065.                                                                                                                                                                                                                                                                                                                                   
  17. Kwong, K.S., Tse, Y.K. and Chan, W.S. "Enhancing Singapore’s Pension Scheme: A Blueprint for Further Flexibility," Risks, 2017, 5(2), 25-42.                                                                                                    

    *** 2016 ***

  18. Chan, W.S., Li, J.S.H., Zhou, K.Q. and Zhou, R. "Towards a Large and Liquid Longevity Market: A Graphical Population Basis Risk Metric," The Geneva Papers on Risk and Insurance - Issues and Practice, 2016, 41, 118-127.

    *** 2015 ***

  19. Li, J.S.H., Ng, A.C.Y. and Chan, W.S.  "Managing Financial Risk in Chinese Stock Markets: Option Pricing and Modeling under a Multivariate Threshold Autoregression," International Review of Economics and Finance, 2015, 40, 217-230.  
  20. Chan, W.S., Cheung, S.H., Chow, W.K. and Zhang, L.X. "A Robust Test for Threshold-type Non-linearity in Multivariate Time-Series Analysis," Journal of Forecasting, 2015, 34, 441-454.
  21. Chan, F.W.H., Chan, W.S. and Li, J.S.H. "Using Actuarial Evidence in Singapore and Hong Kong: A Sequel to 'Lai Wee Lian Revisited', " Hong Kong Law Journal, 2015, 45, 499-516.
  22. Yu, K.M., Wu, A.M., Chan, W.S. and Chou, K.L., "Gender Differences in Financial Literacy among Hong Kong Workers," Educational Gerontology, 2015, 41, 315-326.
  23. Yu, K.M., Chou, K.L., Chan, W.S., Wu, A.M., Zhu, A.Y.F. and Lou, V.W.Q., "Perceived Retirement Savings Adequacy in Hong Kong: An Interdisciplinary Financial Planning Model," Ageing & Society, 2015, 35, 1565-1586. 

*** 2014 ***

  1.  Zhang, L.X., Hu, F., Cheung, S.H. and Chan, W.S. "Asymptotic Properties of Multi-color Randomly Reinforced Polya Urn," Advances in Applied Probability, 2014, 46, 585-602.
  2. Chou, K.L., Chan, W.S., Wu, A.M., Chan, A.C.M., Lam T.Y.S. and Zhu, A.Y.F., "Social and Psychological Barriers to Private Retirement Savings in Hong Kong," Journal of Aging & Social Policy, 2014, 26, 308-323.   
  3. Cheung, S.H., Zhang, L.X., Hu, F., and Chan, W.S. "Covariate-Adjusted Response-Adaptive Designs for Generalized Linear Models," Journal of Statistical Planning and Inference, 2014, 149, 152-161.
  4. Chan, W.S., Li, J.S.H. and Li, J.K.K. "The CBD Mortality Indexes: Modeling and Applications," North American Actuarial Journal, 2014, 18, 38-58.
  5. Chan, F.W.H. and Chan, W.S. "Using Actuarial Tables in Matrimonial Financial Disputes: Duxbury Calculation in the Hong Kong Context," Hong Kong Lawyer, 2014, May, 34-40.

*** 2013 ***

  1. Ng, A.C.Y., Li, J.S.H. and Chan, W.S. "Pricing Options on Stocks Denominated in Different Currencies: Theory and Illustrations," North American Journal of Economics and Finance, 2013, 26, 339-354. 

  2. Li, J.S.H., Ng, A.C.Y. and Chan, W.S.  "Stochastic Life Table Forecasting: a Time-Simultaneous Fan Chart Application," Mathematics and Computers in Simulation, 2013, 93, 98-107.

          *** 2012 ***

  1. Chan, F.W.H., Chan, W.S. and Li, J.S.H.  "Actuarial Assessment of Damages in Personal Injury Litigation: How Precise Are We?," Law, Probability and Risk2012, 11, 25-39. 

    *** 2011 *** 

  2. Hu, F., Zhang, L.X., Cheung, S.H. and Chan, W.S.  "Immigrated Urn Models - Theoretical Properties and Applications," Annals of Statistics, 2011, 39, 643-67

  3. Li, J.S.H., Ng, A.C.Y. and Chan, W.S.  "On the Calibration of Mortality Forward Curves," Journal of Futures Markets2011, 31, 947-970.

  4. Li, J.S.H., Chan, W.S. and Cheung, S.H..  "Structural Changes in the Lee-Carter Mortality Indexes: Detection and Implications," North American Actuarial Journal2011, 15, 13-31.

  5. Chung, A.H.L., Chan, W.S. and Batten, J.A.  "Threshold Non-Linear Dynamics between Hang Seng Stock Index and Futures Returns," European Journal of Finance, 2011, 17, 471-486.

  6. Chan, W.S. and Kung, K.C.  "On Robust Testing and Modelling of Threshold-Type Non-Linearity in ASEAN Foreign Exchange Markets," Asia-Pacific Journal of Risk and Insurance, 2011, Vol.5:Iss. 2, Article 3.

  7. Li, J.S.H. and Chan, W.S. "Time-Simultaneous Prediction Bands: A New Look at the Uncertainty Involved in Forecasting Mortality," Insurance: Mathematics and Economics, 2011, 49, 81-88.

  8. Ng, A.C.Y., Li, J.S.H. and Chan, W.S. "Modeling Investment Guarantees in Japan: A Risk-Neutral GARCH Approach," International Review of Financial Analysis, 2011, 20, 20-26.

  9. Li, J.S.H., Ng, A.C.Y. and Chan, W.S.  "Modeling Old-Age Mortality Risk for the Populations of Australia and New Zealand: An Extreme Value Approach," Mathematics and Computers in Simulation2011, 81, 1325-1333 .

     *** 2010 ***

  10. Chan, F.W.H., Chan, W.S. and Li, J.S.H. "Time to Review the Discount Rate in Personal Injury Claims," Law Society Gazette, Dec Issue 2010.

  11. Chan, W.S., Chan, F.W.H. and Li, J.S.H. "A Threshold Formula for Indexing the Discount Rate for Actuarial Assessment of Damages in Personal Injury Litigation," Journal of Personal Injury Law, 2010, 3, 139-146.

  12. Chung, A.H.L., Chan, W.S. and Batten, J.A.  "Modelling the US Swap Spread," Research in Finance,  2010, 26, 155-181.

  13. Tse, Y.K. and Chan, W.S.  "The Lead-Lag Relationship between the S&P500 Spot and Futures Markets: An Intraday-data Analysis Using Threshold Regression Model," Japanese Economic Review, 2010, 61(1), 133-144.

  14. Chan, F.W.H, Chan, W.S. and Li, J.S.H.  "An Actuarial Approach to Assessing Personal Injury Compensations in Singapore: Theory and Practice," Singapore Economic Review , 2010, 55, 705-731.

  15. Chung, A.H.L., Chan, W.S.  "Impact of Credit Spreads, Monetary Policy and Convergence Trading on Swap Spreads," International Review of Financial Analysis, 2010, 19, 118-126.

    *** 2009 ***

  16. Wong, A.C.S., Chan, W.S. and Kam, P.L. "A Student t-mixture Autoregressive Model with Applications to Heavy-Tailed Financial Data," Biometrika, 2009, 96, 751-760.

  17. Hung, K.C., Cheung, S.H., Chan, W.S. and Zhang, L.X. "On a Robust Test for SETAR-Type Non-Linearity in Time Series Analysis," Journal of Forecasting, 2009, 28, 445-464.

  18. Chan, W.S., Zhang, L.X. and Cheung, S.H. "Temporal Aggregation of Markov Switching Financial Return Models," Applied Stochastic Models in Business and Industry, 2009, 25, 359-383. 

  19. Chan, W.S., Wong, A.C.S. and Chung, H.L.  "Modelling Australian Interest Rate Swap Spreads by Mixture Autoregressive Conditional Heteroscedastic Processes," Mathematics and Computers in Simulation 2009, 79, 2779-2786. 

  20. Zhang, L.X., Chan, W.S., Cheung, S.H. and Hung, K.C. "A Note on the Consistency of a Robust Estimator for Threshold Autoregressive Processes," Statistics and Probability Letters, 2009, 79,  807-813.

    *** 2008 ***

  21. Hu F., Zhang L.X., Cheung S.H.  and Chan W.S.  "Doubly Adaptive Biased Coin Designs with Delayed Responses,"   The Canadian Journal of Statistics, 2008, 36, 541-559. 

  22. Chan, W.S., Cheung, S.H., Zhang, L.X. and Wu, K.H. "Temporal Aggregation of Equity Return Time-Series Models," Mathematics and Computers in Simulation2008, 78, 172-180. 

  23. Chan, W.S. and Chan, Y.T. "A Note on the Autocorrelation Properties of Temporally Aggregated Markov Switching Gaussian Models," Statistics and Probability Letters, 2008, 78, 728-735. 

    *** 2007 ***

  24. Zhang, L.X., Hu, F., Cheung, S.H. and Chan, W.S., "Asymptotic Properties of Covariate-Adjusted Response-Adaptive Designs," Annals of Statistics, 2007, 35, 1166-1182.  

  25. Leung, G.M., Tin, K.Y.K. and Chan, W.S., "Hong Kong's Health Spending Projections Through 2033," Health Policy, 2007, 81, 93-101. 

  26. Chan, W.S., "Teaching the Concept of Breakdown Point in Simple Linear Regression," in Fundamentals of Marketing Research, edited by N.K. Malhotra. Los Angeles: Sage Publications: 2007, Vol. IV, 265-268.

  27. Li, S.H. and Chan, W.S., "The Lee-Carter Model for Forecasting Mortality, Revisited," North American Actuarial Journal, 2007, 11, 68-89.

  28. Zhang, L.X., Chan, W.S., Cheung, S.H. and Hu, F., "A Generalized Drop-the-Loser Urn For Clinical Trials with Delayed Responses," Statistica Sinica, 2007,17, 387-409. 

    *** 2006 ***

  29. Chan, W.S. "Outliers in Nonstationary Time-Series," Journal of Quantitative Economics, 2006, 4, 75-83.

  30. Chan, W.S. and Zhang L., "Direct Derivation of Finite-Time Ruin Probabilities in the Discrete Risk Model with  Exponential or Geometric Claims," North American Actuarial Journal, 2006, 10(4), 269-279.

  31. Chan, F.W.H. and Chan, W.S., "An Empirical Inquiry into the Recent Trends of Personal Injury Compensation in Hong Kong," The Business Review, 2006, 5(1), 194-200. 

  32. Chan, W.S., Ng, W.M. and Tong, H., "On a Simple Graphical Approach to Modelling Economic Fluctuations with an Application to the UK Price Inflation, 1265-2005," Annals of Actuarial Science2006, 1(1), 103-128.

  33. Yeung, R.Y.T. and Chan, W.S., "Health Care Financing in Hong Kong", in Hong Kong's Health System - Reflections, Perspectives and Visions, edited by GM Leung and J Bacon-Shone. Hong Kong: The University of Hong Kong Press, 2006, 435-446.                

  34. Wong, I.O.L., Chan, W.S., Choi, S., Lo, S.V., and Leung, G.M. on behalf of the Health Care Financing Study Group. "Moral Hazard or Realised Access to Care? Empirical Observations in Hong Kong," Health Policy, 2006, 75(3), 251-261.      

    *** 2005 ***    

  35. Wong, A.C.S. and Chan, W.S., "Mixture Gaussian Time Series Modelling of Long-Term Market Returns," North American Actuarial Journal, 2005, 9(4), 83-94.

  36. Ghani A.C., Donnelly, C.A., Cox, D.R., Griffin, J.T., Fraser, C., Ho, L.M., Chan, W.S., Lam, T.H., Anderson, R.M., Hedley, A.J., and Leung, G.M. "Methods for Estimating the Case Fatality Ratio for a Novel Emerging Infectious Disease," The American Journal of Epidemiology, 2005, 162, 479-486.    
  37. Li, S.H. and Chan, W.S., "Outlier Analysis and Mortality Forecasting: the United Kingdom and Scandinavian Countries," Scandinavian Actuarial Journal, 2005, 3, 187-211.   
  38. Chan, W.S. and S.H. Cheung, "A Bivariate Threshold Time Series Model for Analyzing Australian Interest Rates," Mathematics and Computers in Simulation, 2005, 68, 429-437.   
  39. Leung, G.M., Wong, I.O.L., Chan, W.S., Choi, S. and Lo, S.V., "The Ecology of Health Care in Hong Kong," Social Science and Medicine, 2005, 61, 577-590.   
    *** 2004 ***   
  40. Chan, W.S., Wong, A.C.S. and Tong, H. "Some Non-linear Threshold Autoregressive Time Series Models for Actuarial Use," North American Actuarial Journal, 2004, 8 (4), 37-61.   
  41. Hui, M.Y.Y. and Chan, W.S., "A Search for the Root Causes of the Underdevelopment of the Hong Kong Annuity Market," The Geneva Papers on Risk and Insurance, 2004, 23, 439-453.   
  42. Chan, W.S. and Ng, M.W., "Robustness of Alternative Non-linearity Tests for SETAR Models," Journal of Forecasting, 2004, 23, 215-231.   
  43. Li, S.H. and Chan, W.S., "Estimation of Complete Period Life Tables for Singaporeans," Journal of Actuarial Practice, 2004, 11, 129-146.   
  44. Chan, W.S., Li, S.H. and Fong, P.W., "An Actuarial Analysis of Long-Term Care Demand in Hong Kong," Geriatrics and Gerontology International, 2004, 4, S143-145.   
  45. Chan, F.W.H. and Chan, W.S., "How Well Do Judges Understand Money? The Reform of Personal Injury Compensation in Hong Kong," The Tort Law Review, 2004, 12, 176-181.
  46. Chan, F.W.H. and Chan, W.S., "A Paradigm Shift in Personal Injury Litigation in Hong Kong - the Actuarial Perspectives," The Business Review, 2004, 2(1), 200-205.   
  47. Cheung, S. H., Kwong, K. S., Chan, W. S. and Leung, S. P., "Multiple Comparisons with a Control in Families with Both One-sided and Two-sided Hypotheses," Statistics in Medicine, 2004, 23, 2975-2988.   
  48. Kwong, K.S., Cheung, S.H. and Chan, W.S., "Multiple Testing to Establish Superiority/Equivalence of a New Treatment Compared with k Standard Treatments for Unbalanced Designs," Biometrics, 2004, 60, 491-498.   
  49. Chan, W.S., Cheung, S.H. and Wu, K.H., "Multiple Forecasts with Autoregressive Time Series Models: Cases Studies," Mathematics and Computers in Simulation, 2004, 64, 421-430. 
    *** 2003 *** 
  50. Chan, W.S., Yang, H. and Zhang, L., "Some Results on Ruin Probabilities in a Two-dimensional Risk Model," Insurance, Mathematics and Economics, 2003, 32, 345-358. 
  51. Chan, W.S. and Chan F.W.H., "On Selection of the Discount Rate for Actuarial Assessment of Damages in Personal Injury Litigation in Hong Kong," Law, Probability and Risk, 2003, 2, 15-24. 
  52. Chan, W.S. and Chan F.W.H., "A Loglinear Analysis of Legal Representation Statistics on Hearings of Civil Cases in the District Court of Hong Kong," Hong Kong Law Journal, 2003, 33, 523-542. 
    *** 2002 *** 
  53. Chan, W.S., "Stochastic Investment Modelling: A Multiple Time Series Approach," British Actuarial Journal, 2002, Vol. 8, 545-591. 
  54. Chan, W.S. and Liu, W.N., "Diagnosing Shocks in Markets of Southeast Asia, Australia and New Zealand," Mathematics and Computers in Simulation, 2002, Vol. 59, 223-232. 
  55. Chan, W.S., "Introduction to Basic Actuarial Principles", in Actuarial Science -- Theory and Practice, edited by H Shang and A Tosseti, Beijing: Higher Education Press, 2002, 1-60. 
  56. Bacon-Shone, J.H., Chan, W.S., Leung, G.M. and Yeung, R.Y.T., "Viability of the Health Protection Account in Hong Kong," Hong Kong Medical Journal, 2002, 8, 384-385. 
    *** 2001 *** 
  57. Chan, W.S., "The First Mandated Social Security Pension Scheme in Hong Kong", Benefits: A Journal of Social Security Research, Policy & Practice, 2001, 32, 15-21. 
  58. Chan, W.S., "Teaching the Concept of Breakdown Point in Linear Regression Analysis," International Journal of Mathematical Education in Science and Technology, 2001, Vol. 32, 745-748. 
  59. Ng, E.T.M. and Chan, W.S., "Some Seasonal Unit Root Tests with a Maintained Broken Trend," Journal of Applied Statistical Science, 2001, Vol. 10, 259-277. 
    *** 2000 *** 
  60. Lo, W.C. and Chan, W.S., "Diagnosing Shocks in Stock Market Returns of Greater China," Multinational Finance Journal, 2000, Vol. 4, 269-288. 
  61. Chan, W.S. and Chan, F.W.H., "Lai Wee Lian Revisited - Should Actuarial Tables be Used for the Assessment of Damages in Personal Injury Litigation in Singapore?" Singapore Journal of Legal Studies, 2000, 364-378. 
  62. Chan, W.S., "Modelling Corporate Bond Default Risk: A Multiple Time Series Approach," Journal of Actuarial Practice, 2000, Vol. 8, 211-235. 
  63. Chan, F.W.H. and Chan, W.S., "Actuarial Assessment of Damages in Personal Injury Litigation: the Hong Kong Position and the Comparative International Aspects," The Hong Kong Law Journal, 2000, Vol. 30, 272-289. 
  64. Chan, F.W.H. and Chan, W.S., "Actuarial Assessment of Damages in Hong Kong Personal Injury Litigation: Chan Pui Ki (an infant) v Leung On," International Journal of Evidence and Proof, 2000, Vol. 4, No. 3, 194-203. 
  65. Zhang, X.B., Tse, Y.K. and Chan, W.S., "Detecting Structural Changes using Genetic Programming with an Application to the Greater-China Stock Markets," in Statistics and Finance: An Interface, edited by Chan et al., London: Imperial College Press, 2000, 370-384. 
    *** 1999 *** 
  66. Chan, W.S., Lo, H. and Cheung, S.H., "Return Transmission Among Stock Markets of the Greater China," Mathematics and Computers in Simulation, 1999, Vol. 48, 511-518. 
  67. Chan, W.S. "A Multivariate Stochastic Investment Model for Analysing Investment Strategies," Singapore International Insurance and Actuarial Journal, 1999, Vol. 3, No. 1, 51-64. 
  68. Chan, W.S., "A Comparison of Some of Pattern Identification Methods for Order Determination of Mixed ARMA Models," Statistics and Probability Letters, 1999, Vol.42, No.1, 69-79. 
  69. Chan, W.S., Cheung, S.H. and Wu, K.H., "On Exact Joint Forecast Regions for Vector Autoregressive Models," Journal of Applied Statistics, 1999, Vol.26, 35-44. 
    *** 1998 *** 
  70. Chan, W.S., "Forecasting Australian Retail Price Inflation: A Multiple Time Series Approach," Australian Actuarial Journal, 1998, Vol.2, 127-141. 
  71. Chan, W.S. and Wang, S., "The Wilkie Model for Retail Price Inflation Revisited," British Actuarial Journal, 1998, 637-652. 
  72. Chan, W.S., "Outlier Analysis of Annual Retail Price Inflation: A Cross-Country Study," Journal of Actuarial Practice, 1998, 149-172. 
  73. Chan, W.S. and Chen, Z.G., "A Statistical Approach for Disaggregating Mixed-Frequency Economic Time Series Data," Advances in Econometrics, 1998, Vol.13, 21-45. 
  74. Cheung, S.H., Wu, K.H. and Chan, W.S., "Exact Simultaneous Prediction Intervals for Autoregressive Integrated Moving Average Models," Computational Statistics and Data Analysis, 1998, 297-306. 
  75. Chan, W.S. and Chung, R.K., "Payment Systems in Singapore," Treasury Management Association Journal, 1998, Vol.18, No.2, 48-51. 
    *** 1997 *** 
  76. Koong, C.S., Tsui, A.K. and Chan, W.S., "On Tests for Long Memory in Pacific Basin Stock Returns," Mathematics and Computers in Simulation, 1997, 445-449. 
    *** 1996 ***
  77. Cheung, S.H. and Chan, W.S., "Simultaneous Confidence Intervals for Pairwise Multiple Comparisons in a Two-Way Unbalanced Design," Biometrics, 1996, 463-472. 
  78. Chan, W.S., "Mang Kung Dice Game," Teaching Statistics, 1996, 42-44. 
    *** 1995 *** 
  79. Chan, W.S., "Understanding the Effect of Time Series Outliers on Sample Autocorrelations," TEST: A Journal of the Spanish Society of Statistics and O.R., 1995, 179-186. 
  80. Chan, W.S, "Time Series Outliers and Spurious Autocorrelations," Journal of Applied Statistical Science, 1995, 40-51. 
  81. Chan, W.S., "Outliers and Financial Time Series Modelling: A Cautionary Note," Mathematics and Computers in Simulation, 1995, 425-430. 
  82. Chan, W.S., "On Large-Sample Tests Concerning Proportions," Teaching Statistics, 1995, 17-18. 
    *** 1994 ***
  83. Chan, W.S. and Tse, Y.K., "Cross Return Predictability in Pacific Basin Stock Markets," Asia Pacific Journal of Management, 1994, 289-303. 
  84. Chan, W.S. and Cheung, S.H., "On Robust Estimation of Threshold Autoregressions," Journal of Forecasting, 1994, 37-49. 
  85. Chan, W.S. "On Portmanteau Goodness-of-Fit Tests in Robust Time Series Modelling," Computational Statistics, 1994, 301-310. 
    *** 1993 *** 
  86. Chan, W.S. "Disaggregation of Annual Time Series Data to Quarterly Figures: A Comparative Study," Journal of Forecasting, 1993, 677-688.     
  87. Chan, W.S. and Tse, Y.K., "Price-Volume Relation in Stocks: A Multiple Time Series Analysis," Asia Pacific Journal of Management, 1993, 39-56. 
    *** 1992 *** 
  88. Chan, W.S. and Wei, W.S., "A Comparison of Some Estimators of Time Series Autocorrelations," Computational Statistics & Data Analysis, 1992, 149-163. 
  89. Chan, W.S., "A Note on Time Series Model Specification in the Presence of Outliers," Journal of Applied Statistics, 1992, 117-124. 
    *** 1990 *** 
  90. Chan, W.S., "On Tests for Nonlinearity in Hong Kong Stock Returns," Hong Kong Journal of Business Management, 1990, 1-11. 
    *** 1986 *** 
  91. Chan, W.S. and Tong, H., "On Tests for Non-linearity in Time Series Analysis," Journal of Forecasting, 1986, 217-228.

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