Lok Man Michelle TONG, PhD in Real Estate Finance & Economics
Assistant Professor
Contact Details
Telephone: 85902331
Email: lmtong@cityu.edu.mo
Academic Qualifications
2014 – 2019 Henley Business School, University of Reading (PhD in Real Estate Finance & Economics)
2012 – 2013 London School of Economics and Political Science (MSc Real Estate Economics & Finance)
2005 – 2007 University of Hong Kong (Master in Economics)
2001 – 2004 Hong Kong University of Science and Technology (BSc in Economics and Finance)
Teaching Areas
Research Areas
AWARDS AND FUNDING
2017 – 2018 Travel Grants to ASSA Meeting 2018 from American Real Estate and Urban Economics Association
2014 – 2017 Henley Business School Scholarship (Fully fund PhD studies which cover entire living expenses
Work Experience
2019 – 2021 Assistant Professor of Real Estate Finance, Shanghai Business School, China (Shanghai and Hong Kong)
2015 – 2019 Teaching and Research Assistant, Henley Business School, University of Reading, UK
2009 – 2011 Assistant Research Manager, Glorious Sun Enterprises Limited, Hong Kong
2007 – 2009 Researcher, Enright Scott and Associates
• Tong, L.M. (2019), Early Commercial Mortgage Terminations And Real Estate Supply Constraints, PhD Thesis,
University of Reading UK
• Tong, L.M. (2014), “Collateral Analysis: The Impact Of Collateral Underlying Property-Supply-Constrained
Market On Commercial Mortgage Default”, Real Estate Finance Volume 31 Number 1, P.3-30
TEACHING EXPERIENCE
SHANGHAI BUSINESS SCHOOL
2020 fall
Real Estate Finance (English Medium), BA Hotel Management
2020 spring
Guest Lectures: Real Estate Fundamentals, BA Hotel Management
UNIVERSITY OF READING
Undergraduate Courses 2017 – 2019
Investment Appraisal
2017 – 2018 Project in Real Estate and Planning
Postgraduate Courses
2018 – 2019 Mathematics for Finance ,Real Estate Finance ,Real Estate Funding
2015 – 2018 Real Estate Economics
2015 – 2017 Investment Appraisal (90 students)
PARTICIPATION IN ACADEMIC CONFERENCES
May 2024 58th Annual Canadian Economic Association Online Meeting
Presented Paper: “Search and matching, frictions and mortgage termination options”
March 2024 Royal Economic Society Annual Conference
Accepted Paper: “Search and matching, frictions and mortgage termination options”
January 2023 American Real Estate and Urban Economics Association: ASSA Annual Meeting
Accepted Paper: “Employment dispersion and housing affordability: evaluate the Opportunity Areas in London UK”
July 2022 American Real Estate and Urban Economics Association: International Conference, Dublin
Presented Papers: (1) “Employment dispersion and housing affordability: evaluate the Opportunity Areas in London UK”, (2) “Walk a Tightrope: Could “Rational” Investors Well Manage Their “Irrational” Strategies?”, (3) “How Irrational Biases Affect Real Estate Supply Dynamics?”
June 2022 56th Annual Canadian Economic Association Meeting
Presented Paper: “How Irrational Biases Affect Real Estate Supply Dynamics?”
June 2022 Behavioural Finance Working Group 15th Annual Conference, Queen Mary University of London
Presented Paper: “Walk a Tightrope: Could “Rational” Investors Well Manage Their “Irrational” Strategies?”
July 2021 American Real Estate and Urban Economics Association: International Conference, Online
Presented Papers: (1) “Walk a Tightrope: Could “Rational” Investors Well Manage Their “Irrational” Strategies?”
(2) “Modelling Interactive Mortgage Termination Strategies: Instalment Option Valuation Approach”
January 2021 American Economic Association: ASSA Annual Meeting
Presented Paper: “Deep-Rooted Cultures and Gradual Diversification: How to Shape Housing, Credits, and Consumption”
2016-2020
Royal Economic Society – Annual Conference (Accepted)
Shanghai Business School – Real Estate Finance Symposium (Organizing Committee)
European Real Estate Society Conference – Reading (Presenter and Discussant)
American Economic Association ASSA Annual Meetings (Presenter)
American Real Estate and Urban Economics Association – International Conference Amsterdam and Alicante (Presenter and Discussant)
Society for Property Researchers Talent Seminar (Presenter)
ACADEMIC / PROFESSIONAL MEMBERSHIP
Academic: American Finance Association (AFA), European Finance Association (EFA), American Economic Association
(AEA), Canadian Economic Association (CEA), European Economic Association (EEA), American Real Estate and Urban Economics Association (AREUEA), Royal Economic Society (RES)
Professional: Chartered Alternative Investment Analyst, CFA Program (Level II 2011)