國立暨南國際大學財務金融學系 > Teacher presentation > Chong-Chuo Chang

Department Introduction

Founded History

Aims and Objectives

Teacher Presentation

DISTINGUISHED PROFESSOR

Chong-Chuo Chang

Education (highest degree)

Ph.D. in Finance, National Chung Cheng University

Specialty

Corporate Finance, Microstructure

  • +886-49-2910960 ext. 4659
  • aaron@ncnu.edu.tw
  • 5061, College of Management
  • 10:00-12:00, Thu. (By Appointment)
  • Google Scholar Profile

Working Experience

Distinguished Professor and Dean, Office of the College of Management, National Chi Nan University, 08/2023-

Professor and Dean, Office of International and Cross-Strait Affairs, National Chi Nan University, 02/2021-07/2023

Professor, Department of Banking and Finance, National Chi Nan University, 08/2020-

Program Committee Chair, 2020 International Conference of Taiwan Finance Association, Taiwan Finance Association, 09/2020

Professor and Chair, Department of Banking and Finance, National Chi Nan University, 08/2018-07/2020

Associate Professor and Chair, Department of Banking and Finance, National Chi Nan University, 08/2017-07/2018

Associate Professor and Chair, Department of Banking and Finance, National Chi Nan University, 05/2017-07/2017

Associate Professor, Department of Banking and Finance, National Chi Nan University, 02/2017-05/2017

Professor and Chair, Department of Finance, Asia University, 02/2015-01/2017

Program Committee Chair, 2015 International Conference of Taiwan Finance Association, Taiwan Finance Association, 06/2015

Associate Professor and Chair, Department of Finance, Asia University, 02/2014-01/2015

Associate Professor, Department of Finance, Asia University, 02/2012-01/2014

Assistant Professor, Department of Finance, Asia University, 02/2009-01/2012

Education (including Ph.D., M.S., and B.S.)

Ph.D. in Finance, National Chung Cheng University, 09/2005-12/2008

M. S. in Finance, National Kaohsiung First University of Science and Technology, 09/2003-06/2005

B. S. in Finance, National Kaohsiung First University of Science and Technology, 09/2001-06/2003



Research Interests

Corporate Finance, Microstructure, Corporate Governance

Publications

  1. Chong-Chuo Chang, San-San Kyi, Kuen-Shiou Yang, and Hsiang-Pei Wu (2024, November), Zero-Leverage and Firm Performance - Evidence from Taiwan, Research in International Business and Finance, Accepted (SSCI, 11/233, Q1, Business, Finance; MOST Finance Ranking: B)
  2. Hsien-Yi Chen, Sheng-Syan Chen, and Chong-Chuo Chang* (2024, August), How do institutions affect output recovery after financial crises?, Journal of International Money and Finance, 146, (SSCI, Scopus, MOST Finance Ranking: ATier-1; *Corresponding author)
  3. Chong-Chuo Chang, Hsien-Yi Chen, and Khin Thiri Mon (2024, June), Impact of economic policy uncertainty on the firm’s working capital requirements, Pacific-Basin Finance Journal, Accepted. (SSCI, Scopus, MOST Finance Ranking: ATier-2)
  4. Hui-Wen Tang and Chong-Chuo Chang (2024, Jan), CEO overconfidence, risk-taking, and firm value: Influence of incentive compensation and financial constraints, North American Journal of Economics and Finance, 69, 102034. (SSCI, 40/111, Q2, Business, Finance; 111/586, Q1, Economics)
  5. Chong-Chuo Chang, Lin Lin, Yu-Cheng Chang and Kun-Zhan Hsu (2023, Sep), Impact of Financial Liberalization on Firm Risk, Advances in Decision Sciences, 27(3), 14-45. (Scopus, 63/160(Q2), Decision Sciences - Statistics, Probability and Uncertainty)
  6. Chong-Chuo Chang, Wing-Keung Wong, Shih-Tse Lo, and Yu-Hsuan Liao (2023, Oct), The Relationship between Sovereign Credit Rating Changes and Firm Risk, Heliyon, 9(10), e20444. (Science Citation Index Expanded (SCIE), 23/73(Q2), Multidisciplinary Sciences, Scopus)
  7. Chong-Chuo Chang(2023, Jan), The Impact of Quality of Institutions on Firm Performance: A Global Analysis, International Review of Economics and Finance, 83, 694-716. (SSCI, MOST Finance Ranking: A-)
  8. Chong-Chuo Chang and Han Yang (2023, Sep.), The Impact of Corporate Governance on Financial Constraints: Does the Life Cycle Stage of a Firm Matter?, Journal of Management and Business Research, , 40(3), 345-365. (TSSCI, Scopus) (In Chinese)
  9. Chong-Chuo Chang and Han Yang (2022, Apr), The Role of Cash Holdings during Financial Crises, Pacific-Basin Finance Journal, 72, 101733. (SSCI, Scopus, MOST Finance Ranking: ATier-2)
  10. Chong-Chuo Chang, Han Yang, and Kun Zhan Hsu (2022, June), Corporate Social Responsibility and Product Market Power, Economies, 10(6), 151. (Econlit, Emerging Sources Citation Index - Web of Science, and Scopus, 69/144, Economics, Econometrics and Finance)
  11. Chong-Chuo Chang and Hui-Wen Tang (2021, Jan), Corporate Cash Holdings and Total Factor Productivity– A Global Analysis, North American Journal of Economics and Finance, 55, 101316.(SSCI)
  12. Chong-Chuo Chang and Kuen-Shiou Yang (2021, March), Loose Monetary Policy and Firm Uncertainty, SN Business & Economics, 3(1), 1-27.
  13. Chong-Chuo Chang, Tai-Yung Kam, Yu-Cheng Chang, and Chen-Chen Liu (2019, Sep), Effects of the 2008 Financial Crisis on the Working Capital Management Policy of US Enterprises, International Journal of Business and Economics, 18(2), 121-140. (Econlit; and this journal is rated "B" in a recent ranking made by the Australian Business Deans Council)
  14. Chong-Chuo Chang, Tai-Yung Kam, Chih-Chung Chien, and Wan T. Su (2019, Apr), The impact of financial constraints on the convertible bond announcement returns, Economies, 7(2), 2-32. (Econlit, Emerging Sources Citation Index - Web of Science, and Scopus, 69/144, Economics, Econometrics and Finance)
  15. Chong-Chuo Chang, Munkh-Ulzii Batmunkh, Wing-Keung Wong, and Munkhchimeg Jargalsaikhan (2019, Jun). Relationship between capital structure and profitability: Evidence from Four Asian Tigers.Journal of Management Information and Decision Sciences, 22(2), 54-65. (Scopus, 93/104, Business, Management and Accounting)
  16. Chong-Chuo Chang(2018, Jul), Cash conversion cycle and corporate performance: Global evidence, International Review of Economics and Finance, 56, 568-581. (SSCI, MOST Finance Ranking: A-)
  17. Chong-Chuo Chang, Shieh-Liang Chen, Aini Farmania, Feng-Tse Tsai, Ping-Chao Wu (2018). Corporate Governance and Product Market Power: Evidence from Taiwan. International Journal of Business and Finance Research, 12(1), 93-104. (Econlit).
  18. Sheng-Syan Chen, Hsien-Yi Chen, Chong-Chuo Chang, and Shu-Ling Yang (2016, Mar), The relation between sovereign credit rating revisions and economic growth, Journal of Banking & Finance, 64, 90-100. (SSCI, MOST Finance Ranking: ATier-1)
  19. Sheng-Syan Chen, Hsien-Yi Chen, Shu-Ling Yang, and Chong-Chuo Chang(2016, Mar), Output spillovers from changes in sovereign credit ratings, Journal of International Money and Finance, 63, 48-63. (SSCI, MOST Finance Ranking: ATier-1)
  20. An-Sing Chen, Chong-Chuo Chang, Lee-Young Cheng, and Hsing-Yu Tu (2016, July), Do analysts cater to investor beliefs via target prices?, International Review of Economics and Finance, 4, 232-252. (SSCI, MOST Finance Ranking: A-)
  21. Hui-Wen Tang and Chong-Chuo Chang(2015, Jul), Does corporate governance affect the relationship between earnings management and firm performance?: An endogenous switching regression model, Review of Quantitative Finance and Accounting, 45(1), 33-58. (FLI, Scopus, MOST Finance Ranking: ATier-2)
  22. Chong-Chuo Chang, Sheng-Chuan Wang, Yu-Cheng Chang, and Chen-Chen Liu (2015), The impact of quantitative easing monetary policy on American corporate performance, International Journal of Economic Research, 12(5), 2043-2056. (Scopus, Scopus coverage years: from 2008 to 2017, 174/195, Business, Management and Accounting - General Business, Management and Accounting)
  23. Jenho-Peter Ou, Feng-Tse Tsai, Chong-Chuo Chang, and Yu-Fen Gao (2015, Aug), Long-run performance following switching exchange listings and influence factors, Taiwan Academy of Management Journal, 15(2), 1-23. (In Chinese)
  24. Chong-Chuo Chang(2014, June), Intraday information implied in margin trading, Review of Securities and Futures Markets, 26(2), 91-150. (TSSCI) (In Chinese)
  25. Chong-Chuo Chang, Hsien-Yi Chen, and Nai-Jing Chen (2014, Sep), Switching exchange listings and market liquidity, Sun Yat-Sen Management Review, 22(3), 573-621. (TSSCI) (In Chinese)
  26. Hsien-Yi Chen, Shu-Ling Yang, Chong-Chuo Chang, and Wan-Rung Chen (2014, June), Relationship between fund performance attribution and fund flows, NTU Management Review, 24(2), 283-308. (TSSCI) (In Chinese)
  27. Chong-Chuo Chang, Lee-Young Cheng, Ming-Chang Wang, and Yi-Ching Tsai (2014, Mar), The impact of short-sale price constraints on market quality, Review of Securities and Futures Markets, 26(1), 147-182. (TSSCI) (In Chinese)
  28. Sheng-Syan Chen, Hsien-Yi Chen, Chong-Chuo Chang, and Shu-Ling Yang (2013, Dec), How do sovereign credit rating changes affect private investment?, Journal of Banking & Finance, 37(12), 4820-4833. (SSCI, MOST Finance Ranking: ATier-1)
  29. Hui-wen Tang, Anlin Chen, and Chong-Chuo Chang(2013, Sep), Insider trading, accrual abuse, and corporate governance in emerging markets - Evidence from Taiwan, Pacific-Basin Finance Journal, 24, 132-155. (SSCI, Scopus, MOST Finance Ranking: ATier-2)
  30. Yan Zhao, Lee-Young Cheng, Chong-Chuo Chang, and Cih-Ying Ni (2013, Sep), Short sales, margin purchases and bid-ask spreads, Pacific-Basin Finance Journal, 24, 199-220. (SSCI, Scopus, MOST Finance Ranking: ATier-2)
  31. Lee-Young Cheng, Chong-Chuo Chang, and Dau-Yun Yi (2013, Dec), An analysis of short selling, margin purchasing, and bid-ask spreads around illegal insider trading: Evidence from Taiwan, Journal of Financial Studies, 21(4), 91-123. (TSSCI, EconLit)
  32. Chien-Yun Chang, Chong-Chuo Chang, and Jian-Hsin Chou (2013, Sep), Investigating the information content of convertible bond issuance: From arbitrage and hedging views, Review of Securities and Futures Markets, 25(3), 41-94. (TSSCI) (In Chinese)
  33. Chong-Chuo Chang, C. Edward Wang (2013, Jan), The time-series and cross-sectional stock returns in Taiwan: A reexamination under different model specification, portfolio construction, and sample selection, Taipei Economic Inquiry, 49(1), 31-88. (TSSCI) (In Chinese)
  34. Yung-Jang Wang, Roger C. Y. Chen, and Chong-Chuo Chang(2012, June), Corporate governance and market liquidity, Review of Securities and Futures Markets, 24(2), 125-178. (TSSCI) (In Chinese)
  35. Chong-Chuo Chang, Yung-Jang Wang, Roger C. Y. Chen, and Hui-Wen Tang (2012, Mar), The monitoring effect of the score of information disclosure and evaluation system on market volatility and the degree of order imbalance, Journal of Financial Studies, 20(1)1-32. (TSSCI, EconLit) (In Chinese)
  36. Chao-Shi Wang, Roger C. Y. Chen, Chen-Yu Chen, and Chong-Chuo Chang(2011, Sep), The effect of insider trading on share repurchase announcements: The moving-window perspective, Sun Yat-Sen Management Review, 19(3), 633-664. (TSSCI) (In Chinese)
  37. Yung-Jang Wang, Chong-Chuo Chang, and Lee-Young Cheng (2010, Dec), The impact of statement of financial accounting standards No. 34 on financial and electronic industries: Evidence from market microstructure perspective, Sun Yat-Sen Management Review, 18(4), 1003-1045. (TSSCI) (In Chinese)
  38. Yung-Sheng Su, Roger C.Y. Chen, and Chong-Chuo Chang(2009, Sep), Abnormal stock returns and share repurchases following increases in R&D expenditures, Contemporary Management Research, 5(3), 259-272. (Scopus, 157/177, Business, Management and Accounting - Marketing)
  39. Roger C. Y. Chen, Chong-Chuo Chang, Chao-Shi Wang, and Po-Sheng Chuang (2009, Sep), Long-run performance following stock repurchase announcement and influence factors, Fu Jen Management Review, 16(3), 23-58. (In Chinese)
  40. Pei-Jung Tsai, Yung-Jang Wang, Chong-Chuo Chang(2009, July), Investor sentiment, firm characteristics, and stock returns in Taiwan, Taipei Economic Inquiry, 42(2). (TSSCI) (In Chinese)

Awards and Honors

  1. Excellent Teaching Award, National Chi Nan University, 2022
  2. Excellent Teaching Award, Asia University, 2014
  3. Outstanding Teaching Award, Asia University, 2012
  4. Excellent Teaching Award, Asia University, 2011
  5. Excellent Teaching Award, Asia University, 2010

Research Grants

  1. 2022 International Joint Conference on Management, Economics and Finance (MOST 111-2916-I-260-003-A1), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2022/07/02~2022/07/02) (NT$180,000)
  2. A Study of the Issues Related to Political Uncertainty, Economic Policy Uncertainty, and Financial Decisions (MOST 110-2410-H-260-006-MY3), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2021/08/01~2024/07/31) (NT$2,973,000)
  3. 2020 International Conference of Taiwan Finance Association (MOST 109-2916-I-260-002-A1), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2020/09/25~2020/09/26) (NT$850,000)
  4. A Study of the Issues Related to the Firm’s Recovery Rate (MOST 107-2410-H-260-005-MY3), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2018/08/01~2021/07/31) (NT$2,997,000)
  5. The related Issues on Quality of Institutions (MOST 105-2410-H-468-005-MY2), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2016/08/01~2018/07/31) (NT$1,643,000)
  6. Will Easy Monetary Policy Increase Corporate Uncertainty in the Future? An Investigation of the United States, Japan, United Kingdom, and Eurozone Members (MOST 104-2410-H-468-001), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2015/08/01~2016/07/31) (NT$585,000)
  7. 2015 International Conference of Taiwan Finance Association (MOST 104-2916-I-468-002-A1), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2015/06/05~2016/06/06) (NT$500,000)
  8. Exploring the Influence of Technological Progress on Product Market Power and Earnings Persistence from a Financial Constraints Perspective (MOST 103-2410-H-468 -002), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2014/08/01~2015/07/31) (NT$642,000)
  9. Impact of Corporate Cash Holdings on Total Factor Productivity: Global Empirical Analysis (NSC 102-2410-H-468-005), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2013/08/01~2014/07/31) (NT$516,000)
  10. Cash is King? Detection of the Global Market in a Financial Crisis (NSC 101-2410-H-468-006), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2012/08/01~2013/07/31) (NT$436,000)
  11. Operating Capital Management and Corporate Performance: Global Evidence (NSC 100-2410-H-468-015), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2011/08/01~2012/07/31) (NT$370,000)
  12. Intraday Information Implied in Margin Trading – Examination on Margin Trading, Market Microstructure, Insider Trading and Event Study (NSC 99-2410-H-468 -011), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2010/08/01~2011/07/31) (NT$333,000)
  13. Institutional Trading Activity, Ownership and Security Markets (NSC 98-2410-H-468-030), Principal Investigator: Chong-Chuo Chang, Ministry of Science and Technology, Taiwan. (Individual Project) (2009/08/01~2010/07/31) (NT$353,000)

 

VISITING EXPERIENCE

National University of Mongolia (Mongolia): 05/2023

       ►Speech: Working Capital Management and Financial Structure in Taiwan

Assumption University (Thailand): 01/2020

       ►Lecture / PhD course: Advance Financial Theory

UC San Diego Extension International Programs (United States): 08//2019

       ►2019 UCSD Summer Faculty Training Program for NCNU

Assumption University (Thailand): 05/2019

       ►Lecture / PhD course: Advance Financial Theory

National University of Mongolia (Mongolia): 05/2019

       ►Speech: 1. Research Topics in Corporate Finance: International Evidence

                        2. Research Topics in International Finance

COURSES INSTRUCTED IN ENGLISH

  • Empirical Methods of Finance / PhD course: 2024/02~2024/06
  • Financial Management / PhD course: 2023/09~2024/01
  • Empirical Methods of Finance / PhD course: 2023/02~2023/06
  • Financial Management / PhD course: 2022/09~2023/01
  • Empirical Methods of Finance / PhD course: 2022/02~2022/06
  • Financial Management / Master course: 2021/09~2022/01
  • Seminar on Corporate Finance / PhD course: 2021/02~2021/06
  • Financial Theory / Master course: 2020/02~2020/06
  • Empirical Analysis on Economic and Finance Empirical Data / Master course: 2019/09~2020/01
  • Financial Management / Master course: 2019/09~2020/01
  • Financial Management / Master course: 2018/09~2019/01
  • Studies on Stock Markets / PhD course: 2014/02~2014/06

CERTIFICATION AND LICENSE

  1. Certified Financial Planner (CFP)
  2. Senior Securities Specialist
  3. Futures Specialist
  4. Securities Investment Trust and Consulting Professionals
  5. Bond Specialist
  6. Bank Internal Control and Audit
  7. Trust Representative
  8. Level B Technician for Accounting
  9.