Finance

Research

Most faculty research pertains to corporate finance or corporate governance. In the finance area, research topics include mergers and acquisitions, dividend policy, capital budgeting, issuing securities, and capital structure. Some faculty work in investments with a focus on behavioral finance, mutual funds, and hedge funds. Research topics in corporate governance include board composition, executive compensation, director reputation, board input into mergers and acquisitions, and issues relating to bankruptcy and fraud.

Recent Works

Cai, Jie, and Nguyen, Tu, Disciplinary directors: Evidence from the appointments of outside directors who have fired CEOs. Journal of Banking and Finance (Forthcoming)

Dougal, Casey, Gao, Pengjie, Mayhew, William, and Parsons, Christopher, What’s in a (school) name? Racial discrimination in higher education bond markets. Journal of Financial Economics (Forthcoming)

Gombola, Michael J., Chou, David, and Liu, Feng-Ying, Capital Structure Dynamics with Restricted Equity Issuance: Evidence from Chinese post-IPO firms. Asia Pacific Management Review (Forthcoming)

Robak, Patricia J., Classroom Polar Vortex: Using Threaded Discussions to Manage Mother Nature&#-775232;s Insistent Behavior. Advances in Financial Education (Winter 2017):

Cai, Jie, Walkling, Ralph A., and Yang, Ke, The Price of Street Friends: Social Networks, Informed Trading, and Shareholder Costs. Journal of Financial and Quantitative Analysis (Forthcoming)

Juergens, Jennifer L., Becher, David A., and Cohn, Jonathan, Do Stock Analysts Influence Merger Completion? An Examination of Post-Merger Announcement Recommendations. Management Science (Forthcoming)

Cai, Jie, Garner, Jacqueline L., and Walkling, Ralph A., A paper tiger? An empirical analysis of majority voting. Journal of Corporate Finance 21 (Jun 2013): 119-135.

Cai, Jie, and Zhang, Zhe, Leverage change, debt overhang, and stock prices. Journal of Corporate Finance (Forthcoming)

Cai, Jie, Song, Moon H., and Walkling, Ralph A., Anticipation, Acquisitions and Bidder Returns: Industry shocks and the transfer of information across rivals. Review of Financial Studies (Forthcoming)

Chiang, Thomas C., Empirical analysis of intertemporal relations between downside risks and expected returns - Evidence from Asian markets. Research in International Business and Finance (Aug 2018):

Chen, Cathy Yi-Hsuan, Chiang, Thomas C., and Hardle, Wolfang K, Downside risk and stock returns in the G7 countries: An empirical analysis of their long-run and short-run dynamics. Journal of Banking & Finance 93 (Aug 2018): 21-32.

Chiang, Thomas C., and Zhang, Yuanqing, Empirical analysis of stock return and market risk as reflected by conditional volatility, downside risk, fear, changes in oil price and exchange rate for BRICS. Journal of Finance and Economics (Mar 2018):

Chiang, Thomas C., and Zhang, Yuanqing, An empirical investigation of risk-return relations in Chinese equity markets: Evidence from aggregate and sectoral data. International Journal of Financial Studies 6 (Mar 2018): 1-22.

Dorn, Daniel, Student-Managed Portfolios: Wisdom of Independent Crowds?. Journal of Trading 13 (Jan 2018): 17-26.

Chen, Pei-Ying, Chiang, Thomas C., and Lin, Bing-Huei, Evaluating the Performance of Sustainability. Advances in Financial Planning and Forecasting 8 (Dec 2017): 221-252.