Department of Finance

Research output

Research output per year 1997 2010 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2023

• 3119 Citations
• 26 h-index
• 267 Article
• 5 Chapter
• 4 Conference contribution
• 4 Review article
• 1 More
  • 1 Comment/debate

Research output per year

Research output per year

Search results

• 2023

  An Exact Structural Model for Evaluating Credit Default Swaps: Theory and Empirical Evidence

  Chen, R. R. & Hsieh, P. L., Dec 2023, In: Journal of Fixed Income. 32, 3, p. 20-48 29 p.

  Research output: Contribution to journal › Article › peer-review

  • Structural Model 100%
  • Credit Default Swaps 87%
  • Empirical Evidence 73%
  • Arbitrage 39%
  • Interest Rate Volatility 33%

• Bank CEO risk-taking incentives and bank lending quality

  Zhai, R. X., Ho, P. H., Lin, C. Y. & Linh, T. T. T., Apr 2023, In: Review of Quantitative Finance and Accounting. 60, 3, p. 949-981 33 p.

  Research output: Contribution to journal › Article › peer-review

  • Risk Taking 100%
  • Bank Lending 83%
  • Incentives 78%
  • Vega 71%
  • Chief Executive Officer 59%
  2 Scopus citations

• CEO inside debt and downside risk: Evidence from internal and external environments

  Lee, C. C., Wang, C. W. & Wu, Y. C., Sep 2023, In: Pacific Basin Finance Journal. 80, 102073.

  Research output: Contribution to journal › Article › peer-review

  • Downside Risk 100%
  • External Environment 85%
  • Debt 82%
  • Chief Executive Officer 67%
  • Industry Competition 37%

• CEO overconfidence, lottery preference and the cross-section of stock returns

  Lu, J., Ho, K. Y., Ho, P. H. & Ko, K. C., Jun 2023, In: Finance Research Letters. 54, 103749.

  Research output: Contribution to journal › Article › peer-review

  • Cross-section of Stock Returns 100%
  • Lottery 92%
  • Overconfidence 83%
  • Chief Executive Officer 56%
  • Anomaly 53%

• Compulsory disclosure regulation: the effect of ESG on extreme risk

  Lee, C. C., Wang, C. W., Chen, W. L. & Hong, P. C., 2023, (Accepted/In press) In: Applied Economics.

  Research output: Contribution to journal › Article › peer-review

  • Disclosure Regulation 100%
  • Governance 49%
  • Green Issues 26%
  • Financial Transparency 25%
  • Investors 20%

• COVID-19 and commodity pricing premium: Evidence from the Chinese market

  Zhang, L., Hsieh, P. L. & Chen, H., Dec 2023, In: Finance Research Letters. 58, 103899.

  Research output: Contribution to journal › Article › peer-review

  Open Access

  • Chinese Market 100%
  • Commodities 81%
  • Premium 69%
  • Pricing 58%
  • Trade War 42%

• Does corporate social responsibility affect leverage adjustments?

  Do, T. K., Huang, H. H. & Lo, T. C., May 2023, In: Review of Quantitative Finance and Accounting. 60, 4, p. 1569-1604 36 p.

  Research output: Contribution to journal › Article › peer-review

  • Leverage 100%
  • Corporate Social Responsibility 99%
  • Speed of Adjustment 92%
  • External Financing 61%
  • Adjustment Costs 58%
  1 Scopus citations

• Does import competition from China discipline overconfident CEOs in U.S. firms?

  Chen, S. S., Peng, S. C. & Yeh, C. W., Jun 2023, In: Quarterly Review of Economics and Finance. 89, p. 277-297 21 p.

  Research output: Contribution to journal › Article › peer-review

  • Import Competition 100%
  • Chief Executive Officer 58%
  • Incentives 51%
  • China 37%
  • Product Market Competition 30%

• Green development, climate risks, and cash flow: International evidence

  Lee, C. C., Wang, C. W. & Thinh, B. T., Jun 2023, In: Pacific Basin Finance Journal. 79, 102021.

  Research output: Contribution to journal › Article › peer-review

  • Corporate Cash Holdings 100%
  • Cash Flow 98%
  • Climate 97%
  • Cash Holdings 85%
  • Interaction 38%
  9 Scopus citations

• Investor propensity to speculate and price delay in emerging markets

  Hsin, C. W. & Peng, S. C., Mar 2023, In: International Review of Financial Analysis. 86, 102557.

  Research output: Contribution to journal › Article › peer-review

  • Investors 100%
  • Propensity 73%
  • Lottery 72%
  • Emerging Markets 68%
  • Price Reaction 36%

• Managerial ability and R&D investment: do CEOs’ and firms’ characteristics matter?

  Lee, C. C., Wang, C. W. & Xu, Z. T., 2023, (Accepted/In press) In: Applied Economics.

  Research output: Contribution to journal › Article › peer-review

  • CEO Characteristics 100%
  • Managerial Ability 93%
  • R&D Investment 72%
  • Firm Characteristics 69%
  • Managers 48%
  1 Scopus citations

• Option-implied information and quality of patents

  Li, W. H., Liang, J. & Lin, Z. Y., 2023, (Accepted/In press) In: European Financial Management.

  Research output: Contribution to journal › Article › peer-review

  • Patents 100%
  • Probability of Informed Trading 35%
  • Patent Quality 34%
  • Stock Market 33%
  • Market Sentiment 31%

• Predictive power of the implied volatility term structure in the fixed-income market

  Chen, R. R., Hsieh, P. L., Huang, J. & Li, X., Mar 2023, In: Journal of Futures Markets. 43, 3, p. 349-383 35 p.

  Research output: Contribution to journal › Article › peer-review

  • Volatility Term Structure 100%
  • Fixed Income Market 92%
  • Implied Volatility 69%
  • Predictive Power 63%
  • Swaption 45%

• Price discovery and triangular arbitrage in currency markets

  Wu, Z. X., Gau, Y. F. & Chen, Y. L., Oct 2023, In: Journal of International Money and Finance. 137, 102912.

  Research output: Contribution to journal › Article › peer-review

  • Arbitrage 100%
  • Currency Market 75%
  • Price Discovery 69%
  • Vehicle Currency 10%
  • Macroeconomic Announcements 8%

• Signaling effect of cash holdings adjustment before bond issuance

  Lee, C. C., Wang, C. W. & Xu, Z. T., Jan 2023, In: International Review of Financial Analysis. 85, 102470.

  Research output: Contribution to journal › Article › peer-review

  • Cash Holdings 100%
  • Fixed Income Securities 30%
  • Investor Attention 28%
  • Bond Spreads 27%
  • Real Earnings Management 27%
  9 Scopus citations

• Stakeholder demands and corporate social responsibility: Evidence from the Olympic Games

  Do, T. K., Huang, H. H., Shan, L., Tsang, A. & Yu, L., Sep 2023, In: China Journal of Accounting Research. 16, 3, 100307.

  Research output: Contribution to journal › Article › peer-review

  Open Access

  • Olympic Games 100%
  • Corporate Social Responsibility 61%
  • Stakeholders 49%
  • Host Country 24%
  • Olympics 16%
  1 Scopus citations

• The impact of central bank digital currency variation on firm's implied volatility

  Lee, C. C., Wang, C. W., Hsieh, H. Y. & Chen, W. L., Jan 2023, In: Research in International Business and Finance. 64, 101878.

  Research output: Contribution to journal › Article › peer-review

  • Implied Volatility 100%
  • Currency 90%
  • Central Bank 77%
  • Endogeneity Problem 18%
  • Simultaneous Equations Model 17%
  8 Scopus citations

• The relationship between cash flow uncertainty and extreme risk: International evidence

  Wang, C. W., Lee, C. C. & Wu, L. T., Feb 2023, In: Pacific Basin Finance Journal. 77, 101927.

  Research output: Contribution to journal › Article › peer-review

  • Crash 100%
  • Cash Flow 79%
  • Uncertainty 55%
  • Economic Policy Uncertainty 31%
  • Simultaneous Equations 28%
  34 Scopus citations
• 2022

  CEO overconfidence and bondholder wealth effects: Evidence from mergers and acquisitions

  Chen, S. S., Ho, K. Y., Ho, P. H. & Nie, W. Y., Dec 2022, In: Journal of Corporate Finance. 77, 102278.

  Research output: Contribution to journal › Article › peer-review

  • Bondholders 100%
  • Overconfidence 90%
  • Wealth Effect 88%
  • Mergers 87%
  • Mergers and Acquisitions 72%
  1 Scopus citations

• Climate risk and bank liquidity creation: International evidence

  Lee, C. C., Wang, C. W., Thinh, B. T. & Xu, Z. T., Jul 2022, In: International Review of Financial Analysis. 82, 102198.

  Research output: Contribution to journal › Article › peer-review

  • Bank Liquidity 100%
  • Climate 63%
  • Liquidity 24%
  • Macroeconomic Stability 18%
  • Bank Capital 18%
  16 Scopus citations

• Debt maturity choice in CEOs’ incentive to signal abilities

  Wang, C. W., 2022, In: Asia-Pacific Journal of Accounting and Economics. 29, 3, p. 632-648 17 p.

  Research output: Contribution to journal › Article › peer-review

  • Debt Maturity 100%
  • Incentives 77%
  • Chief Executive Officer 58%
  • Short-term Debt 56%
  • Managers 55%
  4 Scopus citations

• Does green bond issuance have an impact on climate risk concerns?

  Wang, C. W., Wu, Y. C., Hsieh, H. Y., Huang, P. H. & Lin, M. C., Jul 2022, In: Energy Economics. 111, 106066.

  Research output: Contribution to journal › Article › peer-review

  • Climate 100%
  • Endogeneity 29%
  • Text Mining 20%
  • Text mining 19%
  • Propensity Score Matching 19%
  11 Scopus citations

• Does U.S. CEO connectedness in China matter? Evidence from Chinese import penetration

  Peng, S. C., 2022, (Accepted/In press) In: Review of Quantitative Finance and Accounting.

  Research output: Contribution to journal › Article › peer-review

  • Import Penetration 100%
  • Connectedness 84%
  • Chief Executive Officer 55%
  • China 35%
  • United States of America 28%

• Do financial inclusion and R&D matter? Exploring the effect of uncertainty on economic performance

  Lee, C. C., Wang, C. W. & Pan, C. M., 2022, In: Applied Economics. 54, 3, p. 307-325 19 p.

  Research output: Contribution to journal › Article › peer-review

  • Financial Inclusion 100%
  • Economic Performance 72%
  • Uncertainty 49%
  • Instrumental Variables 29%
  • Endogeneity 29%
  14 Scopus citations

• Equity Short Selling and the Bank Loan Market

  Ho, P. H., Lin, C. Y. & Lin, T. C., 1 Mar 2022, In: Journal of Money, Credit and Banking. 54, 2-3, p. 349-379 31 p.

  Research output: Contribution to journal › Article › peer-review

  • Short Selling 100%
  • Equity 94%
  • Bank Loans 88%
  • Loan Spread 41%
  • Short-sale Constraints 38%
  5 Scopus citations

• Financial aid and financial inclusion: Does risk uncertainty matter?

  Lee, C. C., Wang, C. W. & Ho, S. J., Feb 2022, In: Pacific Basin Finance Journal. 71, 101700.

  Research output: Contribution to journal › Article › peer-review

  • Financial Aid 100%
  • Financial Inclusion 87%
  • Uncertainty 43%
  • Risk Factors 19%
  • Developing Countries 17%
  44 Scopus citations

• Information asymmetry and the profitability of technical analysis

  Hung, C. & Lai, H. N., Jan 2022, In: Journal of Banking and Finance. 134, 106347.

  Research output: Contribution to journal › Article › peer-review

  • Profitability 100%
  • Technical Analysis 94%
  • Information Asymmetry 74%
  • Five-factor Model 59%
  • Probability of Informed Trading 59%
  3 Scopus citations

• Informativeness of trades around macroeconomic announcements in the foreign exchange market

  Wu, Z. X. & Gau, Y. F., May 2022, In: Journal of International Financial Markets, Institutions and Money. 78, 101533.

  Research output: Contribution to journal › Article › peer-review

  • Informativeness 100%
  • Macroeconomic Announcements 99%
  • Foreign Exchange Market 73%
  • Trading Volume 20%
  • Private Information 18%
  1 Scopus citations

• Is fair value information fairly priced? Evidence from IPOs in global capital markets^✰

  He, L., Hsin-han Shen, C. & Shiu, C. Y., Feb 2022, In: Journal of Banking and Finance. 135, 106368.

  Research output: Contribution to journal › Article › peer-review

  • Fair Value 100%
  • Capital Markets 71%
  • Value Reporting 56%
  • Initial Public Offerings 36%
  • Underwriters 20%
  1 Scopus citations

• Liquidation threat: Behavior of CEO entrenchment

  Lee, C. C. & Wang, C. W., Jun 2022, In: Finance Research Letters. 47, 102949.

  Research output: Contribution to journal › Article › peer-review

  • Debt Maturity 100%
  • Entrenchment 98%
  • Liquidation 86%
  • Chief Executive Officer 58%
  • Threat 56%
  5 Scopus citations

• Liquidity spillover in foreign exchange markets

  Chang, Y. T., Gau, Y. F. & Hsu, C. C., Jan 2022, In: Finance Research Letters. 44, 102105.

  Research output: Contribution to journal › Article › peer-review

  • Foreign Exchange Market 100%
  • Spillover 83%
  • Currency Market 76%
  • Liquidity 74%
  • Funding 61%
  7 Scopus citations

• Peer Effects on Corporate Cash Holdings: Evidence from Vietnam

  Nguyen, N. H. & Li, W. H., May 2022, In: Asian Review of Financial Research. 35, 2, p. 73-105 33 p.

  Research output: Contribution to journal › Article › peer-review

  • Corporate Cash Holdings 100%
  • Peer Effects 91%
  • Cash Holdings 85%
  • Innovation 42%
  • Peers 36%

• Price discovery in fiat currency and cryptocurrency markets

  Huang, G. Y., Gau, Y. F. & Wu, Z. X., Jun 2022, In: Finance Research Letters. 47, 102615.

  Research output: Contribution to journal › Article › peer-review

  • Cryptocurrency 100%
  • Currency Market 99%
  • Price Discovery 92%
  • Bitcoin 57%
  • Arbitrage 52%
  8 Scopus citations

• Product market threats and leverage adjustments

  Do, T. K., Huang, H. H. & Ouyang, P., Feb 2022, In: Journal of Banking and Finance. 135, 106365.

  Research output: Contribution to journal › Article › peer-review

  • Product Market 100%
  • Speed of Adjustment 98%
  • Leverage 85%
  • Threat 82%
  • Capital Structure 52%
  10 Scopus citations

• Revisiting the valuation of deposit insurance

  Chang, C. C., Chung, S. L., Ho, R. J. & Hsiao, Y. J., Jan 2022, In: Journal of Futures Markets. 42, 1, p. 77-103 27 p.

  Research output: Contribution to journal › Article › peer-review

  • Contingent Capital 100%
  • Deposit Insurance 73%
  • Insurance Premium 47%
  • Large Bank 46%
  • Forbearance 30%
  1 Scopus citations

• Stewardship, institutional investors monitoring, and firm value: Evidence from the United Kingdom

  Nguyen, N. H. & Shiu, C. Y., 2022, (Accepted/In press) In: Journal of Multinational Financial Management. 100732.

  Research output: Contribution to journal › Article › peer-review

  • Stewardship 100%
  • Institutional Ownership 93%
  • Corporate Governance 84%
  • Institutional Investors 79%
  • Company Value 75%
  2 Scopus citations

• Supply chain, product pricing, and dynamic capital structure

  Chen, C. C., Huang, H. H. & Lee, C. I., Jul 2022, In: International Review of Economics and Finance. 80, p. 938-952 15 p.

  Research output: Contribution to journal › Article › peer-review

  • Dynamic Capital Structure 100%
  • Product Pricing 79%
  • Amplification 38%
  • Supply Chain 37%
  • Hedge 30%
  2 Scopus citations

• The Dimension of Bank Liquidity Creation: Culture Viewpoint

  Lee, C. C., Wang, C. W. & Hong, P. C., 2022, In: Emerging Markets Finance and Trade. 58, 12, p. 3567-3588 22 p.

  Research output: Contribution to journal › Article › peer-review

  • Bank Liquidity 100%
  • Liquidity 60%
  • Masculinity 37%
  • Uncertainty Avoidance 35%
  • Power Distance 34%
  6 Scopus citations

• The dimension of green economy: Culture viewpoint

  Lee, C. C., Wang, C. W. & Ho, S. J., Jun 2022, In: Economic Analysis and Policy. 74, p. 122-138 17 p.

  Research output: Contribution to journal › Article › peer-review

  • Green Economy 100%
  • Power Distance 37%
  • Individualism 31%
  • Long-term Orientation 20%
  • Masculinity 20%
  46 Scopus citations

• The effects of economic policy uncertainty and country governance on banks' liquidity creation: International evidence

  Wang, C. W., Lee, C. C. & Chen, M. C., Feb 2022, In: Pacific Basin Finance Journal. 71, 101708.

  Research output: Contribution to journal › Article › peer-review

  • Economic Policy Uncertainty 100%
  • Bank Liquidity 99%
  • Governance 54%
  • Liquidity 30%
  • Bankers 23%
  75 Scopus citations

• The information effect of order flows in foreign currency futures and spot markets

  Chen, Y. L. & Gau, Y. F., Aug 2022, In: Journal of Futures Markets. 42, 8, p. 1549-1572 24 p.

  Research output: Contribution to journal › Article › peer-review

  • Currency Futures 100%
  • Information Effects 90%
  • Order Flow 86%
  • Foreign Currency 76%
  • Spot Market 74%

• ‘Risk-return trade-off in the Australian Securities Exchange: Accounting for overnight effects, realized higher moments, long-run relations, and fractional cointegration

  Jayawardena, N. I., Todorova, N., Li, B., Su, J. J. & Gau, Y. F., Jul 2022, In: International Review of Economics and Finance. 80, p. 384-401 18 p.

  Research output: Contribution to journal › Article › peer-review

  • Fractional Cointegration 100%
  • Risk-return Trade-off 97%
  • Realized Volatility 40%
  • Volatility Index 40%
  • Skewness 36%
  1 Scopus citations
• 2021

  Bank competition and firms’ dependence: evidence from firms’ role

  Wang, C. W., Lee, C. C., Yin, C. & Choo, M. R., 2021, In: Applied Economics. 53, 10, p. 1143-1162 20 p.

  Research output: Contribution to journal › Article › peer-review

  • Bank Competition 100%
  • Competitive Environment 34%
  • Bank-firm Relationships 28%
  • Family Control 24%
  • Empirical Evidence 18%
  4 Scopus citations

• Debt maturity dispersion and the cost of bank loans

  Chiu, W. C., King, T. H. D. & Wang, C. W., Oct 2021, In: Journal of Corporate Finance. 70, 102049.

  Research output: Contribution to journal › Article › peer-review

  • Debt Maturity 100%
  • Bank Loans 78%
  • Debt Maturity Structure 74%
  • Rollover 67%
  • Loans 37%
  3 Scopus citations

• Does size and book-to-market contain intangible information about managerial incentives? Learning from corporate D&O insurance purchase

  Huang, R. J., Jeng, V., Wang, C. W. & Yue, J. C., Sep 2021, In: Pacific Basin Finance Journal. 68, 101560.

  Research output: Contribution to journal › Article › peer-review

  • Litigation Risk 100%
  • Managerial Incentives 92%
  • Book-to-market Ratio 92%
  • Book-to-market 91%
  • Intangibles 87%
  3 Scopus citations

• Do firm characteristics affect debt capacity? Evidence in CEO succession

  Lee, C. C., Wang, C. W., Yin, C. & Choo, M. R., 2021, In: Applied Economics. 53, 48, p. 5567-5583 17 p.

  Research output: Contribution to journal › Article › peer-review

  • CEO Succession 100%
  • Debt Capacity 98%
  • Firm Characteristics 69%
  • Cash Holdings 33%
  • Chief Executive Officer 32%
  2 Scopus citations

• Family Management and Corporate Bond Spreads: Do Foreign and Government Ownerships Matter?

  Lee, C. C., Wang, C. W. & Ho, S. J., 2021, In: Emerging Markets Finance and Trade. 57, 15, p. 4448-4460 13 p.

  Research output: Contribution to journal › Article › peer-review

  • Bond Spreads 100%
  • Government Ownership 96%
  • Corporate Bonds 83%
  • Foreign Ownership 83%
  • Financial Constraints 19%
  4 Scopus citations

• Firms' cash reserve, financial constraint, and geopolitical risk

  Lee, C. C. & Wang, C. W., Feb 2021, In: Pacific Basin Finance Journal. 65, 101480.

  Research output: Contribution to journal › Article › peer-review

  • Geopolitical Risks 100%
  • Financial Constraints 69%
  • Cash 52%
  • Trade War 23%
  • Cash Holdings 19%
  88 Scopus citations

• Improvements in estimating the probability of informed trading models

  Cheng, T. C. & Lai, H. N., 2021, In: Quantitative Finance. 21, 5, p. 771-796 26 p.

  Research output: Contribution to journal › Article › peer-review

  • Probability of Informed Trading 100%
  • Normal Distribution 24%
  • Compound Poisson Distribution 19%
  • Poisson Distribution 15%
  • Grid 12%
  3 Scopus citations

• Insurance-linked lotto

  Chen, T. Y., Huang, R. J. & Tzeng, L. Y., 2021, In: Academia Economic Papers. 49, 3, p. 321-362 42 p.

  Research output: Contribution to journal › Article › peer-review

  • Lotto 100%
  • Rank-dependent Expected Utility 50%
  • Insurance 47%
  • Demand for Insurance 46%
  • Expected Utility 43%