# David Hsieh

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{{Infobox economist
| name               = David Arthur Hsieh
| image              = 
| caption            = 
| birth_date         = {{birth date and age|1953|08|01}}
| birth_place        = [Hong Kong](/source/British_Hong_Kong)
| alma_mater         = [Yale University](/source/Yale_University) (B.S.)<br>[Massachusetts Institute of Technology](/source/Massachusetts_Institute_of_Technology) (Ph.D.)
| occupation         = Professor of Finance
| employer           = [Duke University](/source/Duke_University)
| doctoral_advisor   = [Stanley Fischer](/source/Stanley_Fischer)
| thesis_title       = Expectations and efficiencies in international markets
| thesis_year        = 1981
| thesis_url         = https://library.mit.edu/item/000117075
}}

'''David Arthur Hsieh''' (born August 1, 1953, in [Hong Kong](/source/Hong_Kong)) is an American economist and professor of finance at the [Fuqua School of Business](/source/Fuqua_School_of_Business) at [Duke University](/source/Duke_University). He is known for his research on [hedge fund](/source/hedge_fund)s, [alternative beta](/source/alternative_beta), and nonlinear dynamics in financial markets.<ref name="fuqua_profile">{{cite web |title=Faculty profile: David A. Hsieh |url=https://www.fuqua.duke.edu/faculty/david-hsieh |website=Duke University |access-date=October 13, 2025}}</ref><ref name="duke_vitae">{{cite web |title=David A. Hsieh - Curriculum Vitae |url=https://people.duke.edu/~dah7/vitae.htm |website=Duke University |access-date=October 13, 2025}}</ref>

==Early life==
Hsieh was born in [British Hong Kong](/source/British_Hong_Kong) and immigrated to [White Plains, New York](/source/White_Plains%2C_New_York) at the age of 14. He attended [Phillips Academy](/source/Phillips_Academy) in [Andover, Massachusetts](/source/Andover%2C_Massachusetts), graduating ''cum laude'' in 1972.<ref name="duke_vitae"/>

==Education==
Hsieh earned his [B.S.](/source/Bachelor_of_Science) degree in Economics and Mathematics from [Yale University](/source/Yale_University) in 1976, graduating ''summa cum laude''.<ref name="duke_vitae"/>  
He then worked at the [Federal Reserve Bank of New York](/source/Federal_Reserve_Bank_of_New_York) before pursuing graduate studies at the [Massachusetts Institute of Technology](/source/Massachusetts_Institute_of_Technology) (MIT), where he completed his [Ph.D.](/source/Doctor_of_Philosophy) in Economics in 1981 under [Stanley Fischer](/source/Stanley_Fischer).<ref name="mit_thesis">{{cite thesis |title=Expectations and efficiencies in international markets |url=https://library.mit.edu/item/000117075 |publisher=Massachusetts Institute of Technology |author=David A. Hsieh |year=1981}}</ref>

==Academic career==
Hsieh began his academic career in 1981 as an assistant professor at the [University of Chicago Graduate School of Business](/source/University_of_Chicago_Graduate_School_of_Business).<ref name="duke_vitae"/>  
He later joined the [Fuqua School of Business](/source/Fuqua_School_of_Business) at [Duke University](/source/Duke_University) in [Durham, North Carolina](/source/Durham%2C_North_Carolina), where he is currently a professor of finance.<ref name="fuqua_profile"/>

Hsieh has authored and co-authored more than 50 academic papers and one book. His research initially focused on nonlinear dynamics in asset markets, including the use of high-frequency data to measure [realized variance](/source/realized_variance) and risk.<ref name="berkeley_repo">{{cite web |title=David Hsieh Research Papers Collection |url=https://digicoll.lib.berkeley.edu/record/72125?v=pdf |website=University of California, Berkeley Digital Collections |access-date=October 13, 2025}}</ref>

He later expanded his research to the study of [hedge fund](/source/hedge_fund)s and [alternative beta](/source/alternative_beta) in financial markets. Along with William Fung, he co-developed the "Fung–Hsieh Seven Factor Model," which is widely used to analyze hedge fund returns.<ref name="smu_repo">{{cite web |title=Fung-Hsieh Hedge Fund Research Papers |url=https://ink.library.smu.edu.sg/lkcsb_research/5964/ |website=Singapore Management University Institutional Repository |access-date=October 13, 2025}}</ref>

Hsieh has served as editor or associate editor for several academic journals, including ''Management Science'', ''Economics Letters'', ''Journal of Empirical Finance'', and ''Journal of Business and Economic Statistics''.<ref name="duke_vitae"/>

He has also been an invited speaker at more than 80 academic and professional conferences worldwide.<ref name="fuqua_profile"/>

==Research contributions==
* Developed methods to measure [realized volatility](/source/realized_volatility) using intraday stock data.  
* Contributed to modeling of [value at risk](/source/value_at_risk) through nonlinear statistical approaches.  
* Co-developed the [Fung–Hsieh model](/source/Fung%E2%80%93Hsieh_model) for hedge fund risk and return analysis.<ref name="smu_repo"/>  
* Published foundational work on [alternative beta](/source/alternative_beta) and its implications for [financial risk management](/source/financial_risk_management).  

==Awards and recognition==
* 1999 – Robert J. Schwartz Memorial Prize for best paper on hedge funds.<ref name="duke_vitae"/>  
* 2002 – Bank of America Faculty Award, Duke University.<ref name="duke_vitae"/>  
* 2004 – CFA Institute’s Graham and Dodd Award of Excellence for "Hedge Fund Benchmarks: A Risk-Based Approach," co-authored with William Fung.<ref name="smu_repo"/>  
* 2015 – Certified Alternative Investment Analyst (CAIA) Award for Excellence in Alternative Investment Research.<ref name="fuqua_profile"/>

==Selected publications==
* Hsieh, David A. (1991). "Chaos and Nonlinear Dynamics: Application to Financial Markets." ''The Journal of Finance''.  
* Fung, William & Hsieh, David A. (2004). "Hedge Fund Benchmarks: A Risk-Based Approach." ''Financial Analysts Journal''.  
* Hsieh, David A. (1993). "Modeling Risk in Asset Markets: A GARCH Approach." ''Journal of Financial and Quantitative Analysis''.

==References==
{{Reflist}}

==External links==
* [https://people.duke.edu/~dah7/vitae.htm David Hsieh’s Curriculum Vitae – Duke University]
* [https://www.fuqua.duke.edu/faculty/david-hsieh Duke Faculty Profile]
* [https://scholar.google.com/citations?user=5XnK14gAAAAJ&hl=en Google Scholar Profile]
* [https://orcid.org/0000-0003-1814-2907 ORCID Page]
* [https://research.com/u/david-a-hsieh Research.com Profile]
* [https://ink.library.smu.edu.sg/lkcsb_research/5964/ Singapore Management University Research Collection]
* [https://digicoll.lib.berkeley.edu/record/72125?v=pdf University of California, Berkeley Research Archive]

{{Authority control}}
{{DEFAULTSORT:Hsieh, David}}
Category:Living people
Category:1953 births
Category:Hong Kong emigrants to the United States
Category:Duke University faculty
Category:People from White Plains, New York
Category:MIT School of Humanities, Arts, and Social Sciences alumni
Category:Yale University alumni
Category:University of Chicago faculty
Category:21st-century American economists

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Adapted from the Wikipedia article [David Hsieh](https://en.wikipedia.org/wiki/David_Hsieh) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/David_Hsieh?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.