James S. Ang

Florida State University

Professor

College of Business

Tallahassee, FL 32306-1042

United States

Florida State University - College of Law

425 W. Jefferson Street

Tallahassee, FL 32306

United States

  • Florida State University

    • Email
    • Tel: 904-644-8208

  • Florida State University - College of Law

SCHOLARLY PAPERS

58

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319

Scholarly Papers (58)

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1.

Analyst Forecasts and Stock Returns

Number of pages: 34 Posted: 06 Jun 2001
James S. Ang and Stephen John Ciccone
Florida State University and University of New Hampshire - Department of Accounting & Finance
Downloads 3,024 (8,670)
Citation 13

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Analysts, Analyst forecasts, Earnings forecasts, Stock returns, Information asymmetry, Return factors, Asset pricing models

2.

Agency Costs and Ownership Structure

Journal of Finance, Vol. 55, No. 1, February 2000
Number of pages: 39 Posted: 23 Apr 2007 Last Revised: 03 Nov 2008
James S. Ang, Rebel A. Cole and James W Lin
Florida State University, Florida Atlantic University and Montana State University - Bozeman - College of Business
Downloads 2,439 (12,176)
Citation 142

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agency costs, bank monitoring, ownership structure,

3.

The Role of Social Media in Corporate Governance

The Accounting Review, forthcoming, HKUST Business School Research Paper No. 2020-003 (also appears in Emerging Finance and Financial Practices eJournal)
Number of pages: 57 Posted: 09 Jul 2020 Last Revised: 11 Jun 2021
James S. Ang, Charles Hsu, Di Tang and Chaopeng Wu
Florida State University, Hong Kong University of Science & Technology, Shanghai University of Finance and Economics and Xiamen University - School of Management
Downloads 2,309 (13,324)
Citation 29

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social media, corporate governance, acquisitions, wisdom of crowds

4.

Evaluating Long-Horizon Event Study Methodology

Number of pages: 38 Posted: 17 Jun 2011
James S. Ang and Shaojun Zhang
Florida State University and Hong Kong Polytechnic University
Downloads 2,075 (15,759)
Citation 3

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Bootstrap, Long-horizon event study, Skewness-adjusted t-test, Simulation, Weighted least-squares regression

5.

Direct Evidence on the Market-Driven Acquisitions Theory

Number of pages: 57 Posted: 16 Apr 2003
James S. Ang and Yingmei Cheng
Florida State University and Florida State University - College of Business
Downloads 1,439 (27,737)
Citation 25

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Market-driven acquisitions theory; acquirers and targets; post-merger long-term return

6.

International Differences in Analyst Forecast Properties

Number of pages: 57 Posted: 02 Jul 2001
James S. Ang and Stephen John Ciccone
Florida State University and University of New Hampshire - Department of Accounting & Finance
Downloads 1,283 (32,864)
Citation 25

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Analyst forecasts, transparency, corporate governance

7.

100 Research Ideas: Extending the Frontiers of Research in Corporate Finance

Number of pages: 44 Posted: 25 Apr 2019
James S. Ang
Florida State University
Downloads 1,276 (33,109)

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research topics, corporate finance, markets and institutions, multidisciplinary research

8.

Behavioral vs. Traditional Corporate Finance: An Unabashed Critical Review

FSU College of Law, Public Law Research Paper No. 889, FSU College of Law, Law, Business & Economics Paper No. 18-6
Number of pages: 41 Posted: 11 Sep 2018
James S. Ang
Florida State University
Downloads 717 (73,725)
Citation 1

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Corporate finance, behavioral finance, dividends, capital structure, corporate investments.

9.

Good Apples, Bad Apples: Sorting Among Chinese Companies Traded in the US

Number of pages: 42 Posted: 20 Mar 2012 Last Revised: 14 Jun 2014
James S. Ang, Zhiqian Jiang and Chaopeng Wu
Florida State University, Xiamen University - School of Management and Xiamen University - School of Management
Downloads 658 (82,212)
Citation 11

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financial fraud; overseas listing; reverse merger; U.S.-listed Chinese companies

10.

Does Enforcement of Intellectual Property Rights Matter in China? Evidence from Financing and Investment Choices in the High Tech Industry

AFA 2011 Denver Meetings Paper
Number of pages: 47 Posted: 18 Mar 2010 Last Revised: 21 Dec 2010
James S. Ang, Chaopeng Wu and Yingmei Cheng
Florida State University, Xiamen University and Florida State University - College of Business
Downloads 648 (83,788)
Citation 7

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External financing, R&D investment

11.

Outside and Inside Hired CEOs: A Performance Surprise

Number of pages: 59 Posted: 08 Nov 2009
James S. Ang and Gregory Leo Nagel
Florida State University and Middle Tennessee State University
Downloads 628 (87,281)
Citation 6

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CEO turnover, firm performance, labor market demand, executive retention

12.

Financial Innovations and Market Efficiency: The Case of Single Stock Futures

Number of pages: 33 Posted: 20 Jun 2004
James S. Ang and Yingmei Cheng
Florida State University and Florida State University - College of Business
Downloads 601 (92,283)
Citation 5

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Single stock futures, large returns, market efficiency

13.

Finance and Politics: Special Interest Group Influence During the Nationalization and Privatization of Conrail

Number of pages: 66 Posted: 06 Dec 2000
James S. Ang and Carol Marie Boyer
Florida State University and Long Island University CW Post
Downloads 544 (104,692)
Citation 8

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special interest groups, politics, nationalization, privatization.

14.

The Role of Technological Synergy in Mergers and Acquisitions

Number of pages: 38 Posted: 20 Mar 2012
James S. Ang and Chaopeng Wu
Florida State University and Xiamen University - School of Management
Downloads 542 (105,168)
Citation 2

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Technological Synergy, Mergers and Acquisitions

15.

Single Stock Futures: Selection for Listing and Trading Volume

Number of pages: 26 Posted: 22 Apr 2004
James S. Ang and Yingmei Cheng
Florida State University and Florida State University - College of Business
Downloads 410 (146,806)
Citation 2

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16.

The Financial Outcome of Hiring a CEO from Outside the Firm

Number of pages: 56 Posted: 11 Aug 2010 Last Revised: 15 Mar 2011
James S. Ang and Gregory Leo Nagel
Florida State University and Middle Tennessee State University
Downloads 384 (157,950)
Citation 1

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CEO Turnover, Firm Performance, Labor Market Demand, Compensation

17.

Clawing Back Executive Compensation

Midwest Finance Association 2013 Annual Meeting Paper
Number of pages: 57 Posted: 02 Sep 2012 Last Revised: 23 Jan 2013
James S. Ang, Yingmei Cheng and Sarah Fulmer
Florida State University, Florida State University - College of Business and Florida State University - Department of Finance
Downloads 375 (162,268)

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Dodd-Frank, Clawback, Executive Compensation

18.

Does Enforcement of Intellectual Property Rights Matter? Evidence from Financing and Investment Choices in the High Tech Industry

FSU College of Law, Law, Business & Economics Paper No. 09-12
Number of pages: 58 Posted: 12 Mar 2009
James S. Ang, Yingmei Cheng and Chaopeng Wu
Florida State University, Florida State University - College of Business and Xiamen University
Downloads 375 (162,268)
Citation 4

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19.

Toward a Corporate Finance Theory for the Entrepreneurial Firm.

FSU College of Law, Public Law Research Paper No. 872
Number of pages: 27 Posted: 06 Mar 2018
James S. Ang
Florida State University
Downloads 361 (169,267)
Citation 3

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corporate finance, entrepreneurial firms, venture capital, capital structure

20.

Fire Sale Acquisitions: Myth vs. Reality

Number of pages: 60 Posted: 22 Aug 2009 Last Revised: 09 Nov 2009
James S. Ang and Nathan Mauck
Florida State University and University of Missouri - Kansas City
Downloads 349 (175,602)
Citation 5

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Fire sale, mergers and acquisitions, financial crisis, firm distress, behavioral corporate finance

21.

The Role of Owner in Capital Structure Decisions: An Analysis of Single-Owner Corporations

Journal of Entrepreneurial Finance 14, 1-36
Number of pages: 49 Posted: 09 Sep 2010 Last Revised: 13 Jan 2013
James S. Ang, Rebel A. Cole and Daniel Lawson
Florida State University, Florida Atlantic University and Palm Beach Atlantic University
Downloads 343 (178,897)
Citation 5

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capital structure, small business, personal risk characteristics, SSBF

22.

Political Connection and Firm Value

Downloads 332 (185,322)
Citation 2

Political Connection and Firm Value

Massey U. College of Business Research Paper No. 31
Number of pages: 44 Posted: 27 Sep 2011
James S. Ang, David K. Ding and Tiong Yang Thong
Florida State University, Singapore Management University - Lee Kong Chian School of Business and Singapore Management University - Lee Kong Chian School of Business
Downloads 240 (257,514)
Citation 1

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Political connection, corporate governance, firm value, Singapore

Political Connection and Firm Value

Asian Development Review 30:2
Number of pages: 36 Posted: 06 Apr 2016
James S. Ang, David K. Ding and Tiong Yang Thong
Florida State University, Singapore Management University - Lee Kong Chian School of Business and Singapore Management University - Lee Kong Chian School of Business
Downloads 92 (575,262)
Citation 1

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political connection, corporate governance, firm value, Singapore

23.

Clawing Back Executive Compensation: Will Dodd-Frank Matter?

Number of pages: 63 Posted: 17 Mar 2012
James S. Ang, Yingmei Cheng and Sarah Fulmer
Florida State University, Florida State University - College of Business and Florida State University
Downloads 278 (223,551)
Citation 4

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Dodd-Frank, Clawback, Executive Compensation

24.

Does Familiarity with Business Segments Affect CEOs' Divestment Decisions?

Journal of Corporate Finance, Forthcoming
Number of pages: 42 Posted: 02 Mar 2007 Last Revised: 21 Aug 2014
James S. Ang, Abe de Jong and Marieke van der Poel
Florida State University, Monash University and Erasmus University - Rotterdam School of Management
Downloads 251 (247,719)
Citation 3

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Divestments, Familiarity, CEO work experience, CEO selection

25.

A Critical Long View of Capital Markets and Institutions: Realized Returns from Corporate Assets, 1950-2003

Number of pages: 45 Posted: 14 Mar 2006
James S. Ang, Gregory Leo Nagel and Jun Yang
Florida State University, Middle Tennessee State University and Indiana University - Kelley School of Business - Department of Finance
Downloads 214 (289,026)
Citation 1

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Realized returns, long-term performance

26.

Financial Innovations and Market Efficiency: The Case for Single Stock Futures

Journal of Applied Finance, Vol. 15, No. 1, Spring/Summer 2005
Number of pages: 14 Posted: 20 Aug 2005
James S. Ang and Yingmei Cheng
Florida State University and Florida State University - College of Business
Downloads 200 (307,828)
Citation 1

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27.

The Role of Social Capital and Cultural Biases in Finance: The Investment Behavior of Foreign High Tech Firms

Number of pages: 64 Posted: 18 Mar 2010
James S. Ang, Yingmei Cheng and Chaopeng Wu
Florida State University, Florida State University - College of Business and Xiamen University
Downloads 197 (312,190)
Citation 1

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Foreign direct investment, R&D investment, Social caqpital, Cultural bias

28.

Finance and Politics: The Wealth Effects of Special Interest Group Influence During the Nationalization and Privatization of Conrail

Cambridge Journal of Economics, Forthcoming
Number of pages: 35 Posted: 05 Apr 2006
James S. Ang and Carol Marie Boyer
Florida State University and Long Island University CW Post
Downloads 189 (324,230)
Citation 1

Abstract:

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Political economy, Privatization

29.

Investing with Strangers: Do Business with Whom You Can Trust

Number of pages: 51 Posted: 17 Mar 2012
James S. Ang, Yingmei Cheng and Chaopeng Wu
Florida State University, Florida State University - College of Business and Xiamen University
Downloads 181 (337,263)
Citation 2

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social capital, joint ventures, foreign investment, R&D

30.

How Do Firms Value Debt Capacity? Evidence from Mergers and Acquisitions

Number of pages: 56 Posted: 15 Nov 2018
James S. Ang, Mai Daher, Mai Daher and Ahmad Ismail
Florida State University, London School of Economics & Political Science (LSE)American University of Beirut and American University of Beirut
Downloads 180 (340,634)

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acquisitions; optimal leverage; market timing; premium, debt capacity

31.

Decoupling by Clienteles and by Time in the Financial Markets: The Case of Two-Stage Stock-Financed Mergers

Journal of Corporate Finance, Vol. 25, 2014
Number of pages: 16 Posted: 11 Apr 2012 Last Revised: 25 Feb 2014
James S. Ang, Gonul Colak and Tai-Wei Zhang
Florida State University, University of Sussex and Ming Chuan University
Downloads 172 (352,770)

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decoupling hypothesis; market segmentation; mergers and acquisitions; method of payment; SEO/IPO; use of proceeds

32.

Manager Divestment in Leveraged Buyouts

European Financial Management, Forthcoming
Number of pages: 45 Posted: 08 Jul 2013
James S. Ang, Irena Hutton and Mary Anne Majadillas
Florida State University, Florida State University - College of Business and University of New Mexico
Downloads 167 (361,832)

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Leveraged Buyout, Private Equity, Agency Costs

33.

The Endogeneity of Information Asymmetry and Corporate Financing Decisions

Number of pages: 59 Posted: 12 Mar 2007
James S. Ang and Yingmei Cheng
Florida State University and Florida State University - College of Business
Downloads 165 (367,553)
Citation 1

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endogeneity of information asymmetry, corporate communication, seasoned equity offerings, issuing costs

34.

The Effect of CEO Hiring Source on Total Cash Flow

Number of pages: 66 Posted: 11 Mar 2012 Last Revised: 22 May 2012
James S. Ang and Gregory Leo Nagel
Florida State University and Middle Tennessee State University
Downloads 147 (402,751)
Citation 1

Abstract:

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CEO turnover, firm performance, labor market demand, compensation

35.

The Role of Social Capital and Cultural Biases in the Investment Behavior of Foreign High-Tech Firms

Number of pages: 75 Posted: 19 Mar 2011
James S. Ang, Yingmei Cheng and Chaopeng Wu
Florida State University, Florida State University - College of Business and Xiamen University
Downloads 143 (411,709)
Citation 3

Abstract:

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Social capital, foreign investment

36.

Transferable Skills vs. Homecourt Advantage: A Comparison of Real Asset Performance by Externally and Internally Hired CEOs

Number of pages: 60 Posted: 11 Nov 2007 Last Revised: 02 Aug 2018
James S. Ang and Gregory Leo Nagel
Florida State University and Middle Tennessee State University
Downloads 139 (420,998)

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CEO, Performance, Turnover, Firm specific skills, general skills, labor market

37.

Job Security and CEO Compensation

Number of pages: 54 Posted: 09 Oct 2020
James S. Ang and Wei Chen
Florida State University and Fuzhou Institute of Technology
Downloads 124 (460,281)

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CEO compensation, job security, risk aversion

38.

Cross-Border Opportunity Sets: An International Empirical Study Based on Ownership Types

Number of pages: 48 Posted: 02 Feb 2014 Last Revised: 06 Nov 2014
James S. Ang, April M. Knill and Nathan Mauck
Florida State University, University of South Carolina - Darla Moore School of Business and University of Missouri - Kansas City
Downloads 123 (463,139)

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International, Mergers and Acquisitions, Government ownership

39.

What Premiums Do Target Shareholders Expect? Explaining Negative Returns Upon Offer Announcements

Journal of Corporate Finance, Forthcoming
Number of pages: 39 Posted: 06 Jan 2015 Last Revised: 09 Jan 2015
James S. Ang and Ahmad Ismail
Florida State University and American University of Beirut
Downloads 117 (481,265)
Citation 1

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Takeovers, Prospect Theory, behavioral bias, disappointment

40.

Essentials of Corporate Arbitrage for the Financial Manager

Journal of Applied Finance (Formerly Financial Practice and Education), Vol. 20, No. 2, 2010
Number of pages: 9 Posted: 24 Nov 2015
James S. Ang and David Weaver
Florida State University and Florida State University, Department of Finance, Students
Downloads 110 (503,867)

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41.

Impact of Fintech on Labor Allocation Efficiency in Firms: Empirical Evidence from China

Downloads 98 (546,666)

Impact of Fintech on Labor Allocation Efficiency in Firms: Empirical Evidence from China

Number of pages: 51 Posted: 21 Feb 2024
James S. Ang, Zhenli Yan, Tusheng Xiao, Chun Yuan and Jingfang Wang
Florida State University, Shanghai University of International Business and Economics, Central University of Finance and Economics, Central University of Finance and Economics and Florida State University
Downloads 58 (744,089)

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Fintech, Labor Allocation Efficiency, Information Asymmetry, Agency Problem, Labor Substitution

Impact of Fintech on Labor Allocation Efficiency in Firms: Empirical Evidence from China

Number of pages: 53 Posted: 29 Feb 2024
James S. Ang, zhenli yan, Tusheng Xiao, Chun Yuan and Jingfang Wang
Florida State University, Shanghai University of International Business and Economics, Central University of Finance and Economics, Central University of Finance and Economics and Florida State University
Downloads 40 (874,941)

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Fintech; Labor Allocation Efficiency; Information Asymmetry; Agency Problem; Labor Substitution.

42.

Individual Charitable Donation and Household Spending

Number of pages: 27 Posted: 20 Sep 2013
James S. Ang and Jimmy Zhang
Florida State University and Independent
Downloads 86 (593,024)

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charitable contributions, household allocation, stock market, real estate

43.

Is A Better than B? How Affect Influences the Marketing and Pricing of Financial Securities

Financial Analysts Journal, 2010, 66 (6), 40-54, November/December
Number of pages: 29 Posted: 16 Apr 2010 Last Revised: 22 May 2019
James S. Ang, Ansley Chua and Danling Jiang
Florida State University, Kansas State University and College of Business, Stony Brook University
Downloads 79 (627,536)
Citation 1

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Dual-Class Shares, Affect, Consumer Psychology, Initial Public Offering (IPO), IPO Underpricing, Behavioral Finance, Behavioral Biases, Representativeness and Affect Heuristics

44.

Order Dynamics during the Flash Crash

Journal of Asset Management (2019) 20:365–383.
Number of pages: 51 Posted: 22 Aug 2019 Last Revised: 28 Oct 2020
James S. Ang, Kenneth Hunsader and Shaojun Zhang
Florida State University, University of South Alabama and Hong Kong Polytechnic University
Downloads 71 (660,003)

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Flash Crash, Herfindahl Index, Market Fragmentation, Order Imbalance

45.

Does Social Trust Mitigate Insiders’ Opportunistic Behavior? Evidence from Insider Trading

Number of pages: 71 Posted: 23 Sep 2023
Yonggang Tian, James S. Ang, Panpan Fu, Chaoqun Ma and Xiuhua Wang
Hunan University - College of Business Adminstration, Florida State University, Hunan University, Hunan University - Business School and Hunan University
Downloads 57 (734,909)

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Social trust, Insider trading, corporate governance, Information asymmetry

46.

CEO Selection and Outside Directors’ Incentives

Number of pages: 58 Posted: 20 Dec 2023 Last Revised: 20 Oct 2024
Gregory Leo Nagel and James S. Ang
Middle Tennessee State University and Florida State University
Downloads 28 (960,679)

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CEO turnover, outside directors, agency conflicts, transferable skills

47.

Alternative Formulas to Compute Implied Standard Deviation

Review of Pacific Basin Financial Markets and Policies, Vol. 12, No. 2, pp. 159-176, 2009
Posted: 12 Oct 2009
James S. Ang, Gwoduan David Jou and Tsong-Yue Lai
Florida State University, affiliation not provided to SSRN and California State University-Fullerton, Department of Finance

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Implied volatility, options, option pricing model, implied standard deviation, Taylor formula

48.

The Take-Over Market for Privately Held Companies: The Us Experience

Cambridge Journal of Economics, Vol. 25, pp. 723-748, 2001
Posted: 29 Feb 2008
James S. Ang and Ninon Kohers
Florida State University and University of South Florida - College of Business Administration

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Mergers, Take-overs, US privately held firms

49.

Direct Evidence on the Market-Driven Acquisition Theory

Posted: 15 Apr 2005
James S. Ang and Yingmei Cheng
Florida State University and Florida State University - College of Business

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Mergers and acquisitions, stock valuation

50.

Single Stock Futures: Listing Selection and Trading Volume

Posted: 21 Feb 2005
James S. Ang and Yingmei Cheng
Florida State University and Florida State University - College of Business

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51.

Efficient Labor and Capital Markets: Evidence from CEO Appointments

Financial Management, Vol. 32, No. 2, Summer 2003
Posted: 22 Jun 2003
James S. Ang, Beni Lauterbach and Joseph D. Vu
Florida State University, Bar-Ilan University - Graduate School of Business Administration and DePaul University - Department of Finance

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52.

Firm Transparency and the Costs of Going Public

Posted: 10 Oct 2000
James S. Ang and James C. Brau
Florida State University and Brigham Young University

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53.

Earnouts in Mergers: Agreeing to Disagree and Agreeing to Stay

Posted: 09 Jul 2000
Ninon Kohers and James S. Ang
University of South Florida - College of Business Administration and Florida State University

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54.

Compensation and Performance: The Case of Japanese Managers and Directors

Posted: 04 Aug 1999
James S. Ang and Richard L. Constand
Florida State University and affiliation not provided to SSRN

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55.

Do Securities Markets Respond to Earnings Paths? A Case for Low-Balling

Posted: 10 Oct 1998
John C. Alexander and James S. Ang
Clemson University and Florida State University

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56.

Taxes and Security Design: A Public Finance Rationale for Tax Differentiated Corporate Securities

ADVANCES IN FINANCIAL ECONOMICS, Vol. 2
Posted: 16 Jun 1998
James S. Ang and John A. Cole
Florida State University and North Carolina Agricultural and Technical State University - School of Business & Economics

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57.

Contestability and Pay Differential in the Executive Suites

European Financial Management
Posted: 20 Jan 1998
James S. Ang, Shmuel Hauser and Beni Lauterbach
Florida State University, Ben-Gurion University of the Negev - School of Management and Bar-Ilan University - Graduate School of Business Administration

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58.

Personal Bankruptcy Costs: Their Relevance and Some Estimates

Financial Services Review, Vol. 6, No. 2
Posted: 12 Jan 1998
James S. Ang and Ali M. Fatemi
Florida State University and DePaul University - Department of Finance

Abstract:

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Other Papers (2)

Total Downloads: 998
Actions:
Email selected abstracts
1.

Choosing Benchmarks and Test Statistics for Long Horizon Event Study

Number of pages: 48 Posted: 18 Mar 2002
James S. Ang and Shaojun Zhang
Florida State University and Hong Kong Polytechnic University
Downloads 782

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Abnormal return, Bootstrap, Event study, Long Horizon

2.

Forward-Looking Information and Stock Price Around Earnings Announcement

Posted: 20 Mar 2005
James S. Ang and Shaojun Zhang
Florida State University and Hong Kong Polytechnic University
Downloads 216

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Analyst forecast, Earnings announcement, Earnings surprises, Information disclosure, Price response