Skip to Content

Timothy Kyng

Timothy Kyng
  • Position: Senior Lecturer - Department of Applied Finance and Actuarial Studies
  • Qualifications: BSc University of NSW, MEc Macquarie University, MStat University of NSW, PhD University of Sydney, FIAA, FFSIA

Contact Details

Areas of Expertise

  • Financial decision making
  • Valuation of complex financial contracts
  • Finance education
  • Executive share option valuation
  • Application of mathematics and statistics to finance
  • Insurance and actuarial science

Profile

Tim Kyng is senior lecturer in the Department of Applied Finance and Actuarial Studies at Macquarie University. He completed a PhD in Applied Mathematics in 2011 at the University of Sydney. He previously completed a BSc degree in Pure Mathematics and a Master of Statistics degree in 2011 at the University of New South Wales, and a Master of Economics degree at Macquarie University in 1992. He qualified as an actuary in 1993 and is a Fellow of both the Institute of Actuaries and the Financial Services Institute of Australasia. His research deals with the assessment of risk using sophisticated computer-based mathematical models and their application, such as pricing stock options and comparison of retirement village contracts for consumers. Tim worked in the financial services industry for several years, gaining experience in investment, banking, and insurance. Before joining Macquarie University in 1997 he was a consultant for Coopers & Lybrand, advising clients on financial risk management. The Institute of Actuaries of Australia appointed him the chief examiner for its professional examinations in Finance between 1996 and 1998, and again between 2002 and 2003.

Publications

journal toggle icon open Refereed Journal Articles

    • Kyng TJ, Konstandatos O, Bienek T. (2016) 'Valuation of employee stock options using the exercise multiple approach and life tables'. Insurance: Mathematics and Economics, Insurance: Mathematics and Economics 68, 17-26
    • Kyng TJ, Purcal S, Zhang JC (2016) 'Excel implementation of finite difference methods for option pricing' Spreadsheets in Education (eJSiE) 9 (3), 2
    • Hoadley S, Wood LN, Tickle L & Kyng T. (2016) 'Applying threshold concepts to finance education' Education + Training, vol. 58, no. 5
    • Hoadley S, Tickle, L, Wood, L, & Kyng, T. (2015) 'Threshold concepts in finance: Conceptualizing the curriculum'   International Journal of Mathematical Education in Science and Technology, 46 (6), 824-840
    • Hoadley S, Kyng T, Tickle L & Wood LN. (2015) 'Threshold concepts in finance: student perspectives', International Journal of Mathematical Education in Science and Technology, vol. 46, no. 7, pp. 1004-1020
    • Ferris, S., Parr, N., Markey, R., & Kyng, T. (2015).  Long service leave: past, present, and future.   Australian Journal of Actuarial Practice, 3, 5-22.
    • Kyng, T. J. & Kostandatos, O. (2014).  'Multivariate Monte-Carlo simulation and economic valuation of complex financial contracts : an Excel based implementation 'Spreadsheets in Education, 7 (2), Jan-38.
    • Tickle, L., Kyng, T., & Wood, L. (2014).  The Role of universities in preparing graduates to use software in the financial services workplace.   International Journal of Mathematical Education in Science and Technology, 45 (2), 200-213.
    •  Kyng, T., Tickle, L., & Wood, L. (2013).  Perceptions of the software skills of graduates by employers in the financial services industry.   International Journal of Mathematical Education in Science and Technology, 44 (8), 1224-1238.
    • Kyng, T., Tickle, L., & Wood, L. (2013).  Academics' perceptions of the use and relevance of software in quantitative and financial disciplines.   International Journal of Mathematical Education in Science and Technology, 44 (2), 214-231.
    •  Kyng, T. & Konstandatos, O. (2012).  Real Options Analysis for commodity based mining enterprises with compound and barrier features.   Accounting and Finance Research, 1 (2), 216-225.
    • Ph.D. Thesis (Applied Mathematics) - University of Sydney, Sydney, NSW,   2011. Thesis titled: Applications of exotic option pricing theory to Real Options and Executive Share Options
    • Kyng, T. & Taylor, P. (2008).  Graduates' Use of Spreadsheet Tools in Learning and Applying Financial Mathematics.   Asian Social Science, 4 (3), 66-77.   
    • Kyng, T, and Taylor, P. (2008) Graduates' Use of Spreadsheet Tools in Learning and Applying Financial Mathematics, Asian Social Science 4, 3. 66-77.

chapters toggle icon open Book Chapters

  • Kyng, T., Tickle, L., & Wood, L. (2011). Graduates' use of technical software in financial services. In Lau, Mark A. and Sugden, Stephen J. (Eds.), Applications of spreadsheets in education : The amazing power of a simple tool (pp. 260-260). The Netherlands:  Bentham Science Publishers.

conference toggle icon open Conferences and Presentations

    • Kyng, T. J. (2016). An Actuarial Analysis of Australian Retirement Village Contracts Using Survival Modelling: A Consumer Perspective.  Insurance Mathematics and Economics Conference, Atlanta, Georgia, USA.  [Status: Presented]  [Non-Refereed]  [Scope: International]   [Basic or Discovery Scholarship] 
    • Kyng, T. J., Puang-Ngern, B. & Bilgin, A. (2016). Big data, data science, computer science & statistics education. Ozcots Conference 8-9 December Canberra.  [Status: Presented]  [Non-Refereed]  [Scope: International]   [Basic or Discovery Scholarship] 
    • Kyng, T. J., Bilgin, A.. & Puang-Ngern, B. (2015). Data science: is it statistics or computer science? Statistics education in the age of big data. .IASE Conference Rio Brazil [Status: Presented]  [Non-Refereed]  [Scope: International]   [Basic or Discovery Scholarship] 
    • Kyng, T. J. (2014). An actuarial analysis of Retirement Village Contracts.   Insurance Mathematics and Economics Conference, Shanghai, China.  [Status: Presented]  [Non-Refereed]  [Scope: International]   [Basic or Discovery Scholarship]
    • Kyng, T. J. & Konstandatos, O. (2014). The Use of Spreadsheets in the Teaching and Testing of Financial Mathematics Eighth Annual International Conference on Mathematics & Statistics: Education &  Applications. 30 June & 1-3 July 2014, Athens, Greece [Status: Presented]  [Non-Refereed]  [Scope: International]   [Basic or Discovery Scholarship]
    • Kyng, T. J. (2013). Valuing ESOs using the exercise multiple approach and binary p-options.   Insurance Mathematics and Economics Conference, Copenhagen, Denmark.  [Status: Presented]  [Non-Refereed]  [Scope: International]   [Basic or Discovery Scholarship]
    • Kyng T. J. (2011) Valuing ESOs using the exercise multiple approach and binary P-options. Institute of Actuaries of Australia Biennial Convention 2011.
    • Kyng T. J. (2011) The Multivariate binomial model and its application to the valuation of employee share options and other multivariate contingent claims. Statistical Concepts and Methods for the Modern World (28 - 30 December 2011: Colombo, Sri Lanka)
    • Kyng T. J. , Tickle, L. & Wood, L.N. (2011)  Academics Perceptions’ of The Use and Relevance of Software In Quantitative Disciplines. Volcanic Delta 2011. Rotarua N.Z. The Eighth Southern Hemisphere Conference on Teaching and Learning Undergraduate Mathematics and Statistics
    • Kyng, T. (2009) Images and Barriers on the Road To Real Options Valuation, Modeling and Simulation Conference, Cairns.
    • Kyng, T. (2009) Valuation of Multivariate Contingent Claims Using the Multidimensional Binomial Model, Hawaii International Conference on Statistics, Mathematics and Related Fields, Hawaii.
    • Kyng, T. (2008) Graduates’ use of spreadsheet tools in learning and applying financial mathematics, 40th Anniversary of Actuarial Education in Australia Conference, Macquarie University, Sydney.
    • Kyng, T. (2008) The effectiveness of Microsoft Excel as a tool in teaching and learning financial and actuarial mathematics, Learning Excellence and Development (LEAD) Symposium,  Macquarie University, Sydney.
    • Kyng, T. (2008) Valuation of Executive Share Options using the Hull White Approach, Quantitative Methods in Finance Conference (QMF), Sydney.

reports toggle icon open Reports

  • Markey, R., Parr, N., Kyng, T., Muhidin, S., O'Neill, S., Thornthwaite, L., Wright, C., Lavermicocca, C. & Shauna Ferris (2013) The Case for a National Portable Long Service Leave Scheme for Australia (2012-13), published by McKell Institute 2013. http://mckellinstitute.org.au/wp-content/uploads/2013/06/McKell_Portable_LongService.pdf
  • Ferris, S. D., Parr, N., Kyng, T., Thornthwaite, L., & Markey, R.(2015)  Portable Long Service Leave in the Building and Construction Industry., submitted to Actuaries Institute Biennial Summit.

other toggle icon open Other

Articles in Proceedings

  • Kyng, T., Puang-Ngern, B., & Bilgin, A. (2016) Big data, Data Science, Computer Science & Statistics Education. Australian Conference on Teaching Statistics December 2016. Published at http://iase-web.org/documents/anzcots/OZCOTS_2016_Proceedings.pdf
  • Ferris, S., Thornthwaite, L., Kyng, T., & Markey, R. (2015).  Portable Long Service Leave in the Building and Construction Industry.   Actuaries Summit, Institute of Actuaries of Australia, 17-19 May 2015 Sydney.  Refereed conference Paper published online http://www.actuaries.asn.au/Library/Events/SUM/2015/PortableLSLintheBuildingandConstructionIndustrySummitVersion16052015.pdf
  • Buchen, P., Konstandatos, O., & Kyng, T. J. (2009).  Images and Barriers and the Road to Real Options Evaluation.   Proceedings of the 18th IMACS World Congress – MODSIM09 International Congress on Modelling and Simulation 13-17 July 2009, Cairns, Australia, 1487-1492.

Research Interests

  • Corporate Finance;
  • Option pricing theory;
  • Measurement and Management of Financial Risk;
  • Capital Adequacy of Financial Institutions

Research - Work in Progress

  • Paper on study design for evaluation of proposed website for improving statistical and financial literacy of retirement village consumers. Joint work with Ayse Bilgin and Ling Li.
  • Paper titled “Revisiting Software Project Success”. Joint work with Yvette Blount and Oded Levy
    about the perceptions of success and failure in IT projects by IT professionals.
  • Paper titled An Actuarial Analysis of Australian Retirement Village Contracts: Consumer Perspective
  • Paper titled “Hybrid numerical methods for the valuation of executive stock options”. This is joint work with Fabian Gatzka of TUM and Otto Konstandatos of UTS.
  • Paper titled Threshold concepts in finance: the role of mathematics. This is joint work with Susan Hoadley, Leonie Tickle and Leigh Wood. The paper has been accepted for publication in the Journal of Financial Education and will be published during 2017
  • Retirement Villages online calculator project: This has been funded by a FLA grant of $128K. The project is about the design and implementation of an online calculator comparison tool for retirement villages and an associated educational / financial literacy promoting website. This is an ongoing project expected to take 2 years to complete.

Teaching

  • ACST101: Techniques and Elements of Finance: a first year introductory finance unit
  • ACST200:Mathematics of Finance (CT1): a second year actuarial science unit on financial mathematics
  • ACST305: Financial Economics (CT8): a third year actuarial science unit covering financial economics, options, futures, portfolio theory, utility theory and related topics
  • ACST603: Principles of Finance: a bridging course in finance for new Post Graduate
  • ACST827: Corporate Finance: An introductory postgraduate level unit on corporate finance
  • ACST828: Options, Futures and Derivatives: a postgraduate actuarial science unit covering the mathematics of options, futures and other derivative securities
  • ACST829: Capital Budgeting and Financial Modeling: a postgraduate actuarial science unit covering the theory and practice of capital budgeting and financial modelling using spreadsheets.
  • ACST871: Investment and Asset Modeling: a postgraduate actuarial science unit covering the theory and practice of investment.
  • Institute of Actuaries of Australia subject 5B: Financial Derivatives. The Institute of Actuaries of Australia’s specialist finance course on financial derivatives.
  • I also tutored for the University’s numeracy centre providing individual face to face tuition to first and second year undergraduate students on mathematics, statistics and financial mathematics