Authors’ Biographical Sketch:

K.C. Chen is the Theodore F. Brix Endowed Chair in Finance and chairman of the Department of Finance and Business Law at California State University, Fresno. He is also the editor of International Journal of Business. His current research includes pricing new securities and financial engineering in general. He is also a Chartered Financial Analyst (CFA).

Sangphill Kim, Ph.D, is an associate professor at the management department of the University of Massachusetts Lowell. He has been doing consulting works for many international companies in the area of financial restructure and foreign investment. He has earned his PhD from The Ohio State University, Columbus, OH and received his MBA from the University of Santa Clara, Santa Clara, CA.

Peter Xu, Ph.D., is Principal in the quantitative group of Prudential Investment Management. He conducts equity research, which drives the firm's quantitative stock selection model. Prior to joining Prudential, Peter held teaching and research positions at the University of Houston where he earned his PhD in Finance. Peter received a MA in Economics from Rice University and a BS in Nuclear Physics from Fudan University in Shanghai, China.