張眾卓

 

職稱:教授兼國際事務長
專長:公司理財、市場微結構
學歷:國立中正大學財務金融研究所博士
E-mail:aaron@ncnu.edu.tw
聯絡電話:049-2910960  ext 4659
Office Hours: 星期四10:00~12:00(請事先以e-mail與老師預約)
研究室: 管5061

 


ACADEMIC EXPERIENCE

National Chi Nan University

Professor and Dean, Office of International and Cross-Strait Affairs, 02/2021-

Program Committee Chair, 2020 International Conference of Taiwan Finance Association

Professor, Department of Banking and Finance, 08/2020-01/2021

Professor and Chair, Department of Banking and Finance, 08/2018-07/2020

Associate Professor and Chair, Department of Banking and Finance, 08/2017-07/2018

Associate Professor and Chair, Department of Banking and Finance, 05/2017-07/2017

Associate Professor, Department of Banking and Finance, 02/2017-05/2017

Asia University

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

Program Committee Chair, 2015 International Conference of Taiwan Finance Association

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

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

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

 

 

EDUCATION

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

M.B.A., National Kaohsiung First University of Science and Technology, Kaohsiung, Taiwan, 09/2003-06/2005

B.A., National Kaohsiung First University of Science and Technology, Kaohsiung, Taiwan, 09/2001-06/2003

 

VISITING EXPERIENCE

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

 

TEACHING AWARDS

1.        Excellent Teaching Award, National Chi Nan University, 2019, Fall Semester

2.        Excellent Teaching Award, National Chi Nan University, 2019, Spring Semester

3.        Excellent Teaching Award, National Chi Nan University, 2018, Fall Semester

4.        Excellent Teaching Award, National Chi Nan University, 2018, Spring Semester

5.        Excellent Teaching Award, National Chi Nan University, 2017, Spring Semester

6.        Excellent Teaching Award, Asia University, 2014

7.        Outstanding Teaching Award, Asia University, 2012

8.        Excellent Teaching Award, Asia University, 2011

9.        Excellent Teaching Award, Asia University, 2010

 

COURSES INSTRUCTED IN ENGLISH

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.        Level C Technician for Accounting

 

RESEARCH INTERESTS

Corporate Finance, Microstructure, Corporate Governance

 

PUBLICATIONS

1.        Chong-Chuo Changand Kuen-Shiou Yang (2021), Loose Monetary Policy and Firm Uncertainty, SN Business & Economics, Forthcoming.

2.        Chong-Chuo Changand Hui-Wen Tang (2020), Corporate Cash Holdings and Total Factor Productivity– A Global Analysis, North American Journal of Economics and Finance, Forthcoming.(SSCI)

3.        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, Vol. 18(2), 121-140.(Econlit; and this journal is rated "B" in a recent ranking made by the Australian Business Deans Council)

4.        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.(Scopus, 69/144, Economics, Econometrics and Finance)

5.        Chong-Chuo Chang, Munkh-Ulzii Batmunkh, Wing-Keung Wong, and Munkhchimeg Jargalsaikhan (2019). Relationship between capital structure and profitability: Evidence from Four Asian Tigers.Journal of Management Information and Decision Sciences, 22(2), 54-65. (Scopus)

6.        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-)

7.        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).

8.        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)

9.        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)

10.     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-)

11.     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, SSCI, MOST Finance Ranking: ATier-2)

12.     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)

13.     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)

14.     Chong-Chuo Chang(2014, June), Intraday information implied in margin trading,Review of Securities and Futures Markets, 26(2), 91-150. (TSSCI)(In Chinese)

15.     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)

16.     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)

17.     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)

18.     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)

19.     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, MOST Finance Ranking: ATier-2)

20.     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, MOST Finance Ranking: ATier-2)

21.     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)

22.     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)

23.     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)

24.     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)

25.     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)

26.     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)

27.     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)

28.     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)

29.     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)

30.     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)

 

Research Grants

1.        2020 International Conference of Taiwan Finance Association (MOST 109-2916-I-260-002-A1), Ministry of Science and Technology, Taiwan. (Individual Project) (2020/09/25~2020/09/26) (about US$28,300)

2.        A Study of the Issues Related to the Firm’s Recovery Rate (MOST 107-2410-H-260-005-MY3), Ministry of Science and Technology, Taiwan. (Individual Project) (2018/08/01~2021/07/31) (about US$99,900)

3.        The related Issues on Quality of Institutions (MOST 105-2410-H-468-005-MY2), Ministry of Science and Technology, Taiwan. (Individual Project) (2016/08/01~2018/07/31) (about US$54,800)

4.        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), Ministry of Science and Technology, Taiwan. (Individual Project) (2015/08/01~2016/07/31) (about US$19,500)

5.        2015 International Conference of Taiwan Finance Association (MOST 104-2916-I-468-002-A1), Ministry of Science and Technology, Taiwan. (Individual Project) (2015/06/05~2016/06/06) (about US$17,000)

6.        Exploring the Influence of Technological Progress on Product Market Power and Earnings Persistence from a Financial Constraints Perspective (MOST 103-2410-H-468 -002), Ministry of Science and Technology, Taiwan. (Individual Project) (2014/08/01~2015/07/31) (about US$21,400)

7.        Impact of Corporate Cash Holdings on Total Factor Productivity: Global Empirical Analysis (NSC 102-2410-H-468-005), Ministry of Science and Technology, Taiwan. (Individual Project) (2013/08/01~2014/07/31) (about US$17,200)

8.        Cash is King? Detection of the Global Market in a Financial Crisis (NSC 101-2410-H-468-006), Ministry of Science and Technology, Taiwan. (Individual Project) (2012/08/01~2013/07/31) (about US$14,500)

9.        Operating Capital Management and Corporate Performance: Global Evidence (NSC 100-2410-H-468-015), Ministry of Science and Technology, Taiwan. (Individual Project) (2011/08/01~2012/07/31) (about US$12,400)

10.     Intraday Information Implied in Margin Trading – Examination on Margin Trading, Market Microstructure, Insider Trading and Event Study (NSC 99-2410-H-468 -011), Ministry of Science and Technology, Taiwan. (Individual Project) (2010/08/01~2011/07/31) (about US$11,100)

11.     Institutional Trading Activity, Ownership and Security Markets (NSC 98-2410-H-468-030), Ministry of Science and Technology, Taiwan. (Individual Project) (2009/08/01~2010/07/31) (about US$11,800)

 

Awards and Honors

1.        2016年國立高雄第一科技大學青年傑出校友。

2.        100年度國科會年輕學者學術輔導與諮詢計畫,計畫主持人;薪傳學者:國立臺灣大學財務金融學系陳聖賢教授;計畫執行期間:2011年3月21日至2011年9月20日。

3.        指導科技部大專生專題研究計畫榮獲「108年度大專學生研究計畫研究創作獎」;學生姓名:陳祥方。

4.        指導陳祥方同學之文章,榮獲合作金庫109年研究獎金獎勵。

5.        PM2.5空污資料分析創意競賽第一名;指導學生:黃田程、李欣憶、潘傲霆、陳祥方;日期:2018年6月10日。

6.        2018年FinTech金融科技創新競賽佳作;指導學生:陳祥方、裴品傑、林憶;日期:2018年11月10日。

7.        第六屆聯電經營管理論文獎-優等獎,社團法人中華民國管理科學學會,2016年3月。

8.        第五屆聯電經營管理論文獎-佳作獎,社團法人中華民國管理科學學會,2015年3月。

9.        指導碩士論文榮獲第九屆崇越論文大賞最優論文獎(管理論文碩士組-公司理財與金融市場組);學生姓名:林怡伶。主辦單位:台灣管理學會。2016.07.30。

10.     指導科技部大專生專題研究計畫榮獲「104年度大專學生研究計畫研究創作獎」;學生姓名:劉真真。

11.     101年度至104年度國科會大專校院獎勵特殊優秀人才,獲得獎勵;獎勵期間:2012年8月至2013年7月至2016年7月。

12.     亞洲大學104年度指導大專生計畫特優獎。

13.     亞洲大學103年度指導大專生計畫績優獎。