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Dr May Hu

Position: Lecturer
Faculty or Division: Faculty of Business and Law
Department: BL Deakin Business School
Campus: Melbourne Burwood Campus
Phone: +61 3 924 45106 +61 3 924 45106



PhD; MBA; B.Com(Hons); GCHE; CPA; CA

Biography summary

May completed her Bachelor of Commerce in two years, and after finishing her 1st class Honours in Finance and Economics, she worked at ANZ Bank. During May’s PhD studies, she performed as a research assistant and teaching assistant in universities. May also joined investment banks in China and New Zealand as a security price analyst and M&A (mergers and acquisitions) advisor. Empirical working experience broadened May’s research interests, especially in the areas of corporate finance and asset pricing. May currently teaches corporate finance in the postgraduate and MBA programs. She is a Deakin accredited HDR supervisor and has been supervised a number of HDR students. May is also a member of CPA Australia and Chartered Accountant of Australia and New Zealand.


  • Member of American Finance Association (AFA)
  • Member of American Financial Management Association (FMA)
  • Member of Asian Finance Association (Asian AFA)
  • Member of Financial Services Institute of Australia (FINSA)
  • Member of Accounting and Finance Association of Australia and New Zealand (AFAANZ)

Professional activities

  • Member of CPA Australia
  • Member of Institute of Chartered Accountant Australia and New Zealand
  • Candidate of CFA institute (exams passed)


Teaching Interests

  • Corporate Finance
  • Investment Analysis
  • Research Method

Subjects and units currently teaching



Awards and prizes

  • Best Paper Award at the International Financial Engineering and Risk Management Conference
  • Best Paper Award in Corporate Finance at the Financial Markets and Corporate Governance Conference
  • Best Paper Award in the Finance field at the Australian Research Centre in Accounting, Finance and Economics
  • Best Paper Award at the Global Accounting, Finance and Economics Conference
  • Outstanding Research Award at the Winter Global Finance and Business Conference in the USA
  • PhD Scholarship
  • CFA Scholarship
  • AFAANZ Research Grant
  • Deakin Faculty Grant
  • Grant from National Natural Science Foundation (NNSF)
  • Research Travel Grant
  • E&F AFA Conference Travel Grant


Research interests

  • Corporate Finance
  • Dividend policy, mergers and acquisitions, and earnings announcements
  • Corporate governance, CEO compensation, board structure, earnings management, CSR and corporate fraud
  • Financial innovation and venture capital
  • Market sentiment and Behavioural Finance
  • Asset pricing, financial anomaly and ETF



  • M. Hu (2016). Actual intervention and verbal intervention in the Chinese RMB exchange rate (with Professor Chi Chur Chao, Yufeng Li and Jingjing Yang), International Review of Economics and Finance, forthcoming (ABDC: A).
  • M. Hu (2016). Another January Effect – Evidence from stock split announcements (with Professor Hamid Beladi and Professor Chi Chur Chao), International Review of Financial Analysis, forthcoming (ABDC: A).
  • M. Hu (2016). Counter-Credit-Risk Yield Spreads: A Puzzle in China’s Corporate Bond Market (with Xiaoxia Ye and Jian Luo), International Review of Finance, forthcoming (ABDC: A).
  • M. Hu (2016). The Christmas effect – Special dividend announcements (with Professor Hamid Beladi and Professor Chi Chur Chao), International Review of Financial Analysis, 43, 15-30 (ABDC: A).
  • M. Hu (2016). Another explanation of mutual fund fee puzzle (with Professor Chi Chur Chao and Jin Hao Lim), International Review of Economics and Finance, 42, 134-152 (ABDC: A).
  • M. Hu. (2016). How do cross-border mergers and acquisitions affect firms’ management and stakeholders? (with P Huynh). Corporate Finance Review, January/February, 2016.
  • M. Hu. (2015). Cross-border mergers and acquisitions: An overview (with M Ngo). Corporate Finance Review, March/April and May/June, 2015.
  • M. Hu. (2015). The role of leverage in cross-border mergers and acquisitions (with Jingjing Yang). Internatoinal Review of Economics and Finance, In Press, October 2015 (ABDC: A).
  • M. Hu. (2015). Management Trading in Chinese Entrepreneurial Firms on the ChiNext (with Jingjing Yang and Jun Xiao). Emerging Market Finance and Trade, 51, 33-45 (ABDC: B).
  • M. Hu. (2014). Fraud, market reaction, and role of institutional investors in Chinese listed firms (with Professor Reena Aggarwal and Jingjing Yang). Journal of Portfolio Management, 41(5), 92-109 (ABDC: A).
  • M. Hu. (2014). Can analyst coverage reduce the incidence of fraud? Evidence from China (with Jingjing Yang). Applied Economics Letters, 21(9), 605-608 (ABDC: B).
  • M. Hu. (2014). The efficient market hypothesis and corporate event waves. Corporate Finance Review, March/April and May/June, 2014.
  • Hu, M. (2011). Chapter “Behavioural Finance” (with Professor Fei Wu), Frontiers of Western Research in the Humanities and Social Sciences, Volume of Finance, Renming University Press.

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