Skip to the content

Dr Arnold CHENG
  • Senior Teaching Fellow
BA(Magna Cum Laude), MPhil, MSc, PhD
PhD, Finance
London School of Economics and Political Science
2766 7954
2356 9550
Research Area:
Finance & Financial Services

Consulting, Research and Teaching Interests:
  • Financial intermediation

Dr. Arnold Cheuk-Sang Cheng received his B.A (Magna cum Laude) from Macalester College, USA (1983), M.Phil in Economics from the University of Hong Kong (1987), M.Sc in Accounting and Finance from the London School of Economics and Political Science (University of London) (1987) and Ph.D in Finance from the London School of Economics and Political Science (University of London) (1993).  Dr. Arnold Cheng has also been elected as the Fellow of the Royal Society for the Encouragement of Arts, Manufacturing and Commerce (FRSA) in 1994 and the Fellow of the Royal Asiatic Society of Great Britain and Ireland (FRAS) in 1995.  After teaching at the University of Liverpool from 1989 to 1999, he joined the Hong Kong Polytechnic University in 1999.  He has served as the Programme Leader of BA (Hons) in Financial Services and the Programme Leader of BBA (Hons) in Financial Services in the School of Accounting and Finance from 2003 to 2015.  Dr. Cheng has also been involved extensively in various administrative duties and has been serving in the programme administration, various committees at the school, faculty and university levels.  He has also served on several validation panels for business degrees.

Dr. Cheng began his career with research interests in international arbitrage pricing theory and international financial market movements; and in recent years, he has extended his research interests in convergence of housing prices, financial innovation and Hong Kong banking industry, housing, financial markets and the wider economy.  His works have been published in refereed academic journals and international conferences. 

Dr. Cheng has also provided community services by serving on a number of public bodies in Hong Kong. He serves the St. Paul’s College (Chairman of the Council), St. John’s College (University of Hong Kong) (Council Member and Fellow), Heep Yunn School (Council Member), Chinese YMCA College (Council Member), SKH Chai Wan St. Michael’s Primary School (Supervisor),  Anglican (Hong Kong) Primary Schools Council (Executive Committee Member), Hong Kong Family Welfare Society (Vice Chairman), Chinese YMCA of Hong Kong (Vice President), Council of YMCAs of Hong Kong (Council Member), and SKH Lady MacLehose Centre  (Board Member).

CHOW, W.W., FUNG, M.K., & CHENG, A.C.S. (2016) Convergence and Spillover of House Prices in Chinese Cities, Applied Economics, 48 (51), 4922-4941.

CHENG, A.C.S. & FUNG, M.K., HU, K.P., & CHENG, L.T.W. (2015). Interest Rate Deregulation and Banks' Off-Balance-Sheet Activities: A Hong Kong Perspective.  Applied Economics, 47(7), 5088-5102.

CHENG, A.C.S.& FUNG, M.K.(2015), Determinants of Hong Kong's Housing Prices.  Journal of Economics, Business and Management, 3(3), 352-355.

FUNG, M. K. & CHENG, A.C.S. (2010).  Convergence of Total Factor Productivity Among Banks: Hong Kong's Experience.  Global Finance Journal, 21 (2), 201-210.  

CHENG, A. C. & FUNG, M. K. (2008).  Financial Market and Housing Wealth Effects on Consumption: A Permanent Income Approach.  Applied Economics, 40, 3029-3038.  

FUNG, M. K. & CHENG, A. C. (2004).  Diffusion of Off-Balance-Sheet Financial Innovations: Information Complementarity and Market Competition.  Pacific-Basin Finance Journal, 12 (5), 525-540.  

CHENG, A. C. (1998).  International Correlation Structure of Financial Market Movements: The Evidence from the UK and the US.  Applied Financial Economics, 8 (1), 1-12.  

CHENG , A. C. (1996).  Economic Factors and Stock Markets: Empirical Evidence from the UK and the US.  International Journal of Finance & Economics, 1 (4), 287-302.  

CHENG, A. C. (1995).  The UK Stock Market and Economic Factors: A New Approach.  Journal of Business Finance & Accounting (JBFA), 22 (1), 129-142.