Peter MACKAY
麥卡爾
PhD in Finance
Purdue University, 1998

Associate Professor
Department of Finance

Academic Director of MSc in Finance Program



(852) 2358 8319
pmackay@ust.hk
Room LSK5079
Personal Web

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Google Scholar
Y4H9u-0AAAAJ

ORCID
0000-0003-0165-4738

Scopus ID
8927044500




Research Interest Publications Projects Teaching Assignment Space used




Research Interest

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Corporate finance
Innovation
Risk management
Corporate governance
Capital structure



Publications

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All Years 20 2022 0 2021 0 2020 0 2019 1 2018 1 2017 1 2016 17

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2019 1

Corporate Risk Management: The Hedging Footprint
Oklahoma State University seminar series, Stillwater, Oklahoma, USA, 13 September 2019
Mackay, Peter; Moeller, Sara; Linn, Scott Conference paper

2018 1

Corporate Risk Management: The Hedging Footprint
Risk Management International Conference (RM 2018), University of Torino, Italy, 25-26 October 2018
Mackay, Peter; Moeller, Sara; Linn, Scott Conference paper

2017 1

Optimal Firm Structure under Imperfect Information
The 30th Australasian Finance and Banking Conference (AFBC 2017) , Sydney, Australia, 13–15 December 2017
Ding, Fei; Mackay, Peter Conference paper

2016 2

Organization and Innovation under Costly Information
The 29th Australasian Finance and Banking Conference, Sydney, Australia, 14-16 December 2016
Ding, Fei; Mackay, Peter Ian Conference paper
Organization and Innovation under Costly Information
6th Auckland Finance Meeting, Auckland University of Technology, 16-18 December 2016
Ding, Fei; Mackay, Peter Conference paper

2014 1

Transparency of Corporate Risk Management and Performance
Transparency of Corporate Risk Management and Performance / Editors: Jens Forssb?ck and Lars Oxelheim. Handbook of Economic and Institutional Transparency, 2014, Chapter 24
Mackay, Peter Ian Book chapter

2012 3

Product Markets and Corporate Investment: Theory and Evidence
Journal of banking & finance, v. 36, (2), 2012, Feb, p. 439-453
Akdo?u, E.; MacKay, P. Article
Advances in Financial Risk Management: Corporates, Intermediaries, and Portfolios
Advances in Financial Risk Management: Corporates, Intermediaries, and Portfolios / Jonathan Batten, Peter MacKay, Niklas F Wagner. New York, NY : Palgrave Macmillan, 2013
Batten, Jonathan; MacKay, Peter; Wagner, Niklas Book
Redeemability as governance: A study of closed-end and open-end funds under common management
Research Handbook on International Banking and Governance / Edward Elgar Publishing Ltd. 2012, Pages 510-534
MacKay, Peter Book chapter

2010 1

Corporate Risk Management: What Can We Learn from Financial Statements?
Australasian Banking and Finance Conference (Sydney, Australia – ASX Prize), , 2010
MacKay, Peter; Moeller, Sara Conference paper

2008 1

Investment and competition
Journal of Financial and Quantitative Analysis, v. 43, (2), 2008, Jun, p. 299-330
Akdo?u, Evrim; MacKay, Peter Article

2007 2

The value of corporate risk management
JOURNAL OF FINANCE, v. 62, (3), 2007, Jun, p. 1379-1419
MacKay, Peter; Moeller, Sara B. Article
Redeemability as Governance: A Study of Closed-end and Open-end Funds under Common Management
Conference on Professional Asset Management (Rotterdam), March 2007
MacKay, Peter; Wu, Xiongwei Conference paper

2006 3

Investment and Competition
12th Annual Conference of the Korea Economic Association (Seoul), August 2006
MacKay, Peter; Akdogu, Evrim Conference paper
Investment and Competition
2006 Financial Intermediation Research Society Shanghai Conference, June 2006
MacKay, Peter; Akdogu, Evrim Conference paper
Investment and Competition
Financial Management Association (Stockholm), 7-10 June, 2006
Mackay, Peter; AKDOGU, Evrim Conference paper

2005 1

How does industry affect firm financial structure?
Review of financial studies, v. 18, (4), 2005, WIN, p. 1433-1466
MacKay, P.; Phillips, GM Article

2003 1

Real Flexibility and Financial Structure: An Empirical Analysis
Review of Financial Studies, v. 16, (4), 2003, p. 1131-1165
Mackay, Peter Ian Article

1999 1

Working Capital Management Practices in Canada, Australia and the U.S.A.
The Canadian Journal of Administrative Sciences, v. 16, (1), 1999, p. 53-57
Mackay, Peter Ian; Khoury, Nabil; Smith, Keith; Laval, Universite Article

1998 1

Finance and Technology
Theoretical and Practical Problems in Management, v. 15, (5), 1998, p. 40-44
Mackay, Peter Ian Article


Expand All Collapse All


Conference paper 1

Corporate Risk Management: The Hedging Footprint
Oklahoma State University seminar series, Stillwater, Oklahoma, USA, 13 September 2019
Mackay, Peter; Moeller, Sara; Linn, Scott


Expand All Collapse All


Conference paper 1

Corporate Risk Management: The Hedging Footprint
Risk Management International Conference (RM 2018), University of Torino, Italy, 25-26 October 2018
Mackay, Peter; Moeller, Sara; Linn, Scott


Expand All Collapse All


Conference paper 1

Optimal Firm Structure under Imperfect Information
The 30th Australasian Finance and Banking Conference (AFBC 2017) , Sydney, Australia, 13–15 December 2017
Ding, Fei; Mackay, Peter


Expand All Collapse All


Conference paper 2

Organization and Innovation under Costly Information
The 29th Australasian Finance and Banking Conference, Sydney, Australia, 14-16 December 2016
Ding, Fei; Mackay, Peter Ian
Organization and Innovation under Costly Information
6th Auckland Finance Meeting, Auckland University of Technology, 16-18 December 2016
Ding, Fei; Mackay, Peter


Expand All Collapse All


Book chapter 1

Transparency of Corporate Risk Management and Performance
Transparency of Corporate Risk Management and Performance / Editors: Jens Forssb?ck and Lars Oxelheim. Handbook of Economic and Institutional Transparency, 2014, Chapter 24
Mackay, Peter Ian


Expand All Collapse All


Article 1

Product Markets and Corporate Investment: Theory and Evidence
Journal of banking & finance, v. 36, (2), 2012, Feb, p. 439-453
Akdo?u, E.; MacKay, P.

Book 1

Advances in Financial Risk Management: Corporates, Intermediaries, and Portfolios
Advances in Financial Risk Management: Corporates, Intermediaries, and Portfolios / Jonathan Batten, Peter MacKay, Niklas F Wagner. New York, NY : Palgrave Macmillan, 2013
Batten, Jonathan; MacKay, Peter; Wagner, Niklas

Book chapter 1

Redeemability as governance: A study of closed-end and open-end funds under common management
Research Handbook on International Banking and Governance / Edward Elgar Publishing Ltd. 2012, Pages 510-534
MacKay, Peter


Expand All Collapse All


Conference paper 1

Corporate Risk Management: What Can We Learn from Financial Statements?
Australasian Banking and Finance Conference (Sydney, Australia – ASX Prize), , 2010
MacKay, Peter; Moeller, Sara


Expand All Collapse All


Article 1

Investment and competition
Journal of Financial and Quantitative Analysis, v. 43, (2), 2008, Jun, p. 299-330
Akdo?u, Evrim; MacKay, Peter


Expand All Collapse All


Article 1

The value of corporate risk management
JOURNAL OF FINANCE, v. 62, (3), 2007, Jun, p. 1379-1419
MacKay, Peter; Moeller, Sara B.

Conference paper 1

Redeemability as Governance: A Study of Closed-end and Open-end Funds under Common Management
Conference on Professional Asset Management (Rotterdam), March 2007
MacKay, Peter; Wu, Xiongwei


Expand All Collapse All


Conference paper 3

Investment and Competition
12th Annual Conference of the Korea Economic Association (Seoul), August 2006
MacKay, Peter; Akdogu, Evrim
Investment and Competition
2006 Financial Intermediation Research Society Shanghai Conference, June 2006
MacKay, Peter; Akdogu, Evrim
Investment and Competition
Financial Management Association (Stockholm), 7-10 June, 2006
Mackay, Peter; AKDOGU, Evrim


Expand All Collapse All


Article 1

How does industry affect firm financial structure?
Review of financial studies, v. 18, (4), 2005, WIN, p. 1433-1466
MacKay, P.; Phillips, GM


Expand All Collapse All


Article 1

Real Flexibility and Financial Structure: An Empirical Analysis
Review of Financial Studies, v. 16, (4), 2003, p. 1131-1165
Mackay, Peter Ian


Expand All Collapse All


Article 1

Working Capital Management Practices in Canada, Australia and the U.S.A.
The Canadian Journal of Administrative Sciences, v. 16, (1), 1999, p. 53-57
Mackay, Peter Ian; Khoury, Nabil; Smith, Keith; Laval, Universite


Expand All Collapse All


Article 1

Finance and Technology
Theoretical and Practical Problems in Management, v. 15, (5), 1998, p. 40-44
Mackay, Peter Ian


Expand All Collapse All


2016 2

Organization and Innovation under Costly Information
The 29th Australasian Finance and Banking Conference, Sydney, Australia, 14-16 December 2016
Ding, Fei; Mackay, Peter Ian Conference paper
Organization and Innovation under Costly Information
6th Auckland Finance Meeting, Auckland University of Technology, 16-18 December 2016
Ding, Fei; Mackay, Peter Conference paper

2014 1

Transparency of Corporate Risk Management and Performance
Transparency of Corporate Risk Management and Performance / Editors: Jens Forssb?ck and Lars Oxelheim. Handbook of Economic and Institutional Transparency, 2014, Chapter 24
Mackay, Peter Ian Book chapter

2012 3

Product Markets and Corporate Investment: Theory and Evidence
Journal of banking & finance, v. 36, (2), 2012, Feb, p. 439-453
Akdo?u, E.; MacKay, P. Article
Advances in Financial Risk Management: Corporates, Intermediaries, and Portfolios
Advances in Financial Risk Management: Corporates, Intermediaries, and Portfolios / Jonathan Batten, Peter MacKay, Niklas F Wagner. New York, NY : Palgrave Macmillan, 2013
Batten, Jonathan; MacKay, Peter; Wagner, Niklas Book
Redeemability as governance: A study of closed-end and open-end funds under common management
Research Handbook on International Banking and Governance / Edward Elgar Publishing Ltd. 2012, Pages 510-534
MacKay, Peter Book chapter

2010 1

Corporate Risk Management: What Can We Learn from Financial Statements?
Australasian Banking and Finance Conference (Sydney, Australia – ASX Prize), , 2010
MacKay, Peter; Moeller, Sara Conference paper

2008 1

Investment and competition
Journal of Financial and Quantitative Analysis, v. 43, (2), 2008, Jun, p. 299-330
Akdo?u, Evrim; MacKay, Peter Article

2007 2

The value of corporate risk management
JOURNAL OF FINANCE, v. 62, (3), 2007, Jun, p. 1379-1419
MacKay, Peter; Moeller, Sara B. Article
Redeemability as Governance: A Study of Closed-end and Open-end Funds under Common Management
Conference on Professional Asset Management (Rotterdam), March 2007
MacKay, Peter; Wu, Xiongwei Conference paper

2006 3

Investment and Competition
12th Annual Conference of the Korea Economic Association (Seoul), August 2006
MacKay, Peter; Akdogu, Evrim Conference paper
Investment and Competition
2006 Financial Intermediation Research Society Shanghai Conference, June 2006
MacKay, Peter; Akdogu, Evrim Conference paper
Investment and Competition
Financial Management Association (Stockholm), 7-10 June, 2006
Mackay, Peter; AKDOGU, Evrim Conference paper

2005 1

How does industry affect firm financial structure?
Review of financial studies, v. 18, (4), 2005, WIN, p. 1433-1466
MacKay, P.; Phillips, GM Article

2003 1

Real Flexibility and Financial Structure: An Empirical Analysis
Review of Financial Studies, v. 16, (4), 2003, p. 1131-1165
Mackay, Peter Ian Article

1999 1

Working Capital Management Practices in Canada, Australia and the U.S.A.
The Canadian Journal of Administrative Sciences, v. 16, (1), 1999, p. 53-57
Mackay, Peter Ian; Khoury, Nabil; Smith, Keith; Laval, Universite Article

1998 1

Finance and Technology
Theoretical and Practical Problems in Management, v. 15, (5), 1998, p. 40-44
Mackay, Peter Ian Article


No Publications


No Publications


No Publications






Teaching Assignment

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2021-22 Winter 0 2021-22 Fall 0 2020-21 Summer 2 2020-21 Spring 2 2020-21 Winter 0 2020-21 Fall 0

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UROP1000 Undergraduate Research Opportunities
UROP1100D Undergraduate Research Opportunities Series 1


FINA2203 Fundamentals of Business Finance
FINA5150 Corporate Risk Management


No Teaching Assignments


No Teaching Assignments


No Teaching Assignments


No Teaching Assignments









ProjectsFrom January 2020 to December 2022

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All Projects 2

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No Projects.
Global Competition and Corporate Policies (MacKay & Phillips)


全球競爭與公司政策 Leading


RGC - General Research Fund


Project Team (HKUST)
MACKAY Peter (Lead)


2020 -




Corporate Risk Management in Emerging Markets


新興市場的企業風險管理 Leading


RGC - General Research Fund


Project Team (HKUST)
MACKAY Peter (Lead)


2017 - 2021