Dragon Yongjun Tang

The University of Hong Kong - Faculty of Business and Economics

Professor of Finance

KKL 1004

Pokfulam Road

Pokfulam

Hong Kong

SCHOLARLY PAPERS

27

DOWNLOADS
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SSRN RANKINGS

Top 2,712

in Total Papers Downloads

11,102

CITATIONS
Rank 3,152

SSRN RANKINGS

Top 3,152

in Total Papers Citations

175

Scholarly Papers (27)

1.
Downloads 3,785 ( 1,860)
Citation 60

Liquidity and Credit Default Swap Spreads

AFA 2007 Chicago Meetings Paper, EFA 2008 Athens Meetings Paper
Number of pages: 44 Posted: 03 Mar 2008 Last Revised: 22 Jan 2009
Dragon Yongjun Tang and Hong Yan
The University of Hong Kong - Faculty of Business and Economics and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 2,454 (3,919)
Citation 60

Abstract:

Credit Default Swaps, Credit Spreads, Liquidity, Liquidity Risk

Liquidity and Credit Default Swap Spreads

Number of pages: 65 Posted: 22 Aug 2007
Dragon Yongjun Tang and Hong Yan
The University of Hong Kong - Faculty of Business and Economics and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 1,331 (11,026)
Citation 60

Abstract:

2.

Did Subjectivity Play a Role in CDO Credit Ratings?

Journal of Finance, Forthcoming, AFA 2010 Atlanta Meetings Paper, CELS 2009 4th Annual Conference on Empirical Legal Studies Paper, McCombs Research Paper Series No. FIN-04-10
Number of pages: 54 Posted: 22 Mar 2009 Last Revised: 23 Feb 2012
John M. Griffin and Dragon Yongjun Tang
University of Texas at Austin - Department of Finance and The University of Hong Kong - Faculty of Business and Economics
Downloads 1,308 (10,558)
Citation 48

Abstract:

CDO, Credit Rating

Does the Tail Wag the Dog? The Effect of Credit Default Swaps on Credit Risk

HKIMR Working Paper No.29/2012
Number of pages: 68 Posted: 22 Dec 2012
Marti G. Subrahmanyam, Dragon Yongjun Tang and Sarah Qian Wang
New York University - Stern School of Business, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 391 (61,597)
Citation 15

Abstract:

Credit Default Swaps, Credit Risk, Bankruptcy, Empty Creditor

Does the Tail Wag the Dog? The Effect of Credit Default Swaps on Credit Risk

NYU Working Paper No. 2451/31421
Number of pages: 52 Posted: 13 Jan 2012 Last Revised: 10 Sep 2013
Marti G. Subrahmanyam, Dragon Yongjun Tang and Sarah Qian Wang
New York University - Stern School of Business, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 311 (80,437)
Citation 15

Abstract:

Does the Tail Wag the Dog? The Effect of Credit Default Swaps on Credit Risk

Number of pages: 67 Posted: 24 Dec 2011 Last Revised: 24 Feb 2012
Marti G. Subrahmanyam, Dragon Yongjun Tang and Sarah Qian Wang
New York University - Stern School of Business, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 293 (86,210)
Citation 15

Abstract:

Credit default swap, bankruptcy risk, empty creditor, restructuring

4.
Downloads 560 ( 39,771)
Citation 16

Market Conditions, Default Risk and Credit Spreads

Journal of Banking and Finance, Forthcoming
Number of pages: 40 Posted: 26 Feb 2008 Last Revised: 03 Aug 2010
Dragon Yongjun Tang and Hong Yan
The University of Hong Kong - Faculty of Business and Economics and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 542 (40,932)
Citation 16

Abstract:

Credit Risk, Credit Default Swaps, Credit Spreads, Market Conditions

Market Conditions, Default Risk and Credit Spreads

Bundesbank Series 2 Discussion Paper No. 2008,08
Number of pages: 60 Posted: 08 Jun 2016
Dragon Yongjun Tang and Hong Yan
The University of Hong Kong - Faculty of Business and Economics and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 18 (478,886)
Citation 16

Abstract:

Credit Risk, Credit Default Swaps, Credit Spreads, Market Conditions

5.

Macroeconomic Conditions, Firm Characteristics, and Credit Spreads

Number of pages: 49 Posted: 23 Mar 2005
Dragon Yongjun Tang and Hong Yan
The University of Hong Kong - Faculty of Business and Economics and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 458 (49,589)
Citation 10

Abstract:

Default Risk, Macroeconomic Conditions, Credit Spread

6.

Asset Return Predictability and Bayesian Model Averaging

14th Annual Conference on Financial Economics and Accounting (FEA)
Number of pages: 43 Posted: 20 Jan 2004
Dragon Yongjun Tang
The University of Hong Kong - Faculty of Business and Economics
Downloads 376 (61,281)
Citation 6

Abstract:

7.

Credit Default Swaps – A Survey

Foundations and Trends® in Finance: Vol. 9: No. 1–2, pp 1-196,
Number of pages: 199 Posted: 03 Dec 2014 Last Revised: 13 Jan 2015
McGill University, Desautels Faculty of Management, New York University - Stern School of Business, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 335 (27,826)

Abstract:

8.

Unitary Boards and Mutual Fund Governance

Journal of Financial Research, Forthcoming
Number of pages: 37 Posted: 26 Feb 2008
Dragon Yongjun Tang and Sophie Kong
The University of Hong Kong - Faculty of Business and Economics and Western Washington University - College of Business & Economics
Downloads 266 (89,073)
Citation 3

Abstract:

Mutual Fund Governance, Unitary Board, Board Independence, Director Ownership, Fee-Setting

Subnational Debt of China: The Politics-Finance Nexus

Number of pages: 76 Posted: 01 Jul 2016 Last Revised: 02 Oct 2016
Haoyu Gao, Hong Ru and Dragon Yongjun Tang
Central University of Finance and Economics, Nanyang Technological University and The University of Hong Kong - Faculty of Business and Economics
Downloads 131 (185,649)

Abstract:

Local Government Debt, China, China Development Bank, Policy Loans, Political Promotion

Subnational Debt of China: The Politics-Finance Nexus

Number of pages: 76 Posted: 28 May 2016 Last Revised: 04 Aug 2016
Haoyu Gao, Hong Ru and Dragon Yongjun Tang
Central University of Finance and Economics, Nanyang Technological University and The University of Hong Kong - Faculty of Business and Economics
Downloads 109 (213,743)

Abstract:

Local Government Debt, China, China Development Bank, Policy Loans, Political Promotion

The Leverage Externalities of Credit Default Swaps

Number of pages: 76 Posted: 20 Oct 2013 Last Revised: 07 Nov 2014
Jay Y. Li and Dragon Yongjun Tang
City University of Hong Kong and The University of Hong Kong - Faculty of Business and Economics
Downloads 139 (177,010)

Abstract:

credit default swaps, CDS, customer-supplier relationship, leverage, externalities

The Leverage Externalities of Credit Default Swaps

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 66 Posted: 02 Nov 2014 Last Revised: 13 Jun 2015
Jay Y. Li and Dragon Yongjun Tang
City University of Hong Kong and The University of Hong Kong - Faculty of Business and Economics
Downloads 97 (232,215)

Abstract:

credit default swaps, CDS, customer-supplier relationship, leverage, externalities

11.
Downloads 230 (112,010)
Citation 2

Credit Default Swaps: Past, Present, and Future

Number of pages: 25 Posted: 27 Oct 2015
McGill University, Desautels Faculty of Management, New York University - Stern School of Business, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 230 (111,534)
Citation 2

Abstract:

agency conflicts, asset pricing, CDS, credit risk, derivatives, market structure, sovereign debt

Credit Default Swaps: Past, Present, and Future

Annual Review of Financial Economics, Vol. 8, pp. 175-196, 2016
Posted: 18 Nov 2016
McGill University, Desautels Faculty of Management, New York University - Stern School of Business, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School

Abstract:

12.

Rating Shopping or Catering? An Examination of the Response to Competitive Pressure for CDO Credit Ratings

Number of pages: 75 Posted: 01 Feb 2013 Last Revised: 27 Apr 2013
John M. Griffin, Jordan Nickerson and Dragon Yongjun Tang
University of Texas at Austin - Department of Finance, Boston College and The University of Hong Kong - Faculty of Business and Economics
Downloads 173 (118,047)
Citation 9

Abstract:

13.

Suitability Check and Household Investments in Structured Products

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 52 Posted: 02 Mar 2012 Last Revised: 28 Aug 2016
Eric C. Chang, Dragon Yongjun Tang and Miao Ben Zhang
University of Hong Kong - School of Business, The University of Hong Kong - Faculty of Business and Economics and University of Southern California - Marshall School of Business
Downloads 162 (126,484)

Abstract:

structured products, suitability check, household investments

14.

Do Credit Default Swaps Matter After They Are Settled? Evidence from Debt Recovery Rates

Number of pages: 48 Posted: 30 Aug 2014 Last Revised: 13 Jan 2016
Min Qi, Dragon Yongjun Tang, Deming Wu and Hong Yan
Office of the Comptroller of the Currency - Credit Risk Analysis Division, The University of Hong Kong - Faculty of Business and Economics, Government of the United States of America - Office of the Comptroller of the Currency (OCC) and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 128 (127,086)

Abstract:

Credit default swaps (CDS), Recovery rate, Loss given default (LGD), Credit risk

15.

Regulation-Induced Financial Innovation: The Case of Credit Default Swaps and Bank Capital

27th Australasian Finance and Banking Conference 2014 Paper
Number of pages: 54 Posted: 09 Jun 2014 Last Revised: 25 Jan 2016
Chenyu Shan, Dragon Yongjun Tang and Hong Yan
Shanghai University of Finance and Economics, The University of Hong Kong - Faculty of Business and Economics and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 123 (121,401)

Abstract:

credit default swaps, CDS, regulatory capital relief, bank regulation

16.

Credit Default Swaps and Corporate Cash Holdings

Number of pages: 50 Posted: 11 Jun 2014 Last Revised: 10 Jan 2015
Marti G. Subrahmanyam, Dragon Yongjun Tang and Sarah Qian Wang
New York University - Stern School of Business, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 118 (110,547)
Citation 2

Abstract:

17.

What Moves CDS Spreads?

Number of pages: 44 Posted: 19 Mar 2011 Last Revised: 29 Jun 2013
Dragon Yongjun Tang and Hong Yan
The University of Hong Kong - Faculty of Business and Economics and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 68 (124,761)
Citation 2

Abstract:

Credit Default Swaps, CDS, Net Buying, Liquidity

18.

When Is CDS Trading Innocuous?

Number of pages: 54 Posted: 22 May 2015
Chenyu Shan, Dragon Yongjun Tang and Hong Yan
Shanghai University of Finance and Economics, The University of Hong Kong - Faculty of Business and Economics and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 46 (226,020)

Abstract:

CDS, Bank Lending, CDS-using Bank, Loan Amount

19.

Market versus Contracting: Credit Default Swaps and Creditor Protection in Loans

Number of pages: 51 Posted: 15 Aug 2015
Chenyu Shan, Dragon Yongjun Tang and Andrew Winton
Shanghai University of Finance and Economics, The University of Hong Kong - Faculty of Business and Economics and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 18 (199,433)

Abstract:

Creditor Protection; Collateral; Loan Covenants; Credit Default Swaps

20.

Determinants of CoCo Bond Issuance: International Evidence

Number of pages: 47 Posted: 04 Oct 2017
Chenyu Shan, Dragon Yongjun Tang and Meng Xie
Shanghai University of Finance and Economics, The University of Hong Kong - Faculty of Business and Economics and Fudan University - School of Management
Downloads 0 (503,603)

Abstract:

CoCo Issuance, Determinants, Dividend Payout Ratio, Tier 1 Capital

21.

Credit Default Swaps and Bank Regulatory Capital

HKIMR Working Paper No.20/2017
Number of pages: 45 Posted: 20 Sep 2017
Chenyu Shan, Dragon Yongjun Tang and Hong Yan
Shanghai University of Finance and Economics, The University of Hong Kong - Faculty of Business and Economics and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 0 (436,136)

Abstract:

Credit Default Swaps; CDS; Bank Capital; Financial Innovation

22.

CDS Trading and Stock Price Crash Risk

Number of pages: 58 Posted: 15 Jul 2017
Jinyu Liu, Jeffrey Ng, Dragon Yongjun Tang and Rui Zhong
University of International Business and Economics (UIBE) - School of Banking and Finance, Hong Kong Polytechnic University - School of Accounting and Finance, The University of Hong Kong - Faculty of Business and Economics and Central University of Finance and Economics
Downloads 0 (230,678)

Abstract:

Credit Default Swaps, CDS, Stock Crash, Information Spillover

23.

Insider Takes All! Value of Political Connections in a Property Rights Reform

Number of pages: 62 Posted: 24 Feb 2017
Meng Miao and Dragon Yongjun Tang
Renmin University of China - Hanqing Institute and The University of Hong Kong - Faculty of Business and Economics
Downloads 0 (421,093)

Abstract:

Institution, Property Rights, Political Connection, Investment

24.

Did ECB Liquidity Injections Help the Real Economy?

Number of pages: 67 Posted: 13 Feb 2017 Last Revised: 07 Oct 2017
Copenhagen Business School, New York University - Stern School of Business, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 0 (457,012)

Abstract:

25.

Credit Default Swaps, Exacting Creditors and Corporate Liquidity Management

HKIMR Working Paper No.20/2016
Number of pages: 57 Posted: 02 Feb 2017
Marti Subrahmanyam, Sarah Qian Wang and Dragon Yongjun Tang
New York University (NYU) - Leonard N. Stern School of Business, University of Warwick - Warwick Business School and The University of Hong Kong - Faculty of Business and Economics
Downloads 0 (315,962)

Abstract:

Credit default swaps, Cash, Liquidity, Empty creditors

26.

A Little Knowledge Is a Dangerous Thing: Model Specification, Data History, and CDO (Mis)Pricing

Number of pages: 62 Posted: 11 Feb 2016
Dan Luo, Dragon Yongjun Tang and Sarah Qian Wang
Shanghai University of Finance and Economics - School of Finance, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 0 (288,495)
Citation 2

Abstract:

CDO; Model Specification; Data History; Default Correlation; Frailty

27.

Potential Losses from Incorporating Return Predictability into Portfolio Allocation

Australian Journal of Management, Vol. 39, No. 1, 2014
Posted: 11 Feb 2014
Dragon Yongjun Tang
The University of Hong Kong - Faculty of Business and Economics

Abstract:

Bayesian robustness, portfolio selection, return predictability

Other Papers (1)

Total Downloads: 100    Citations: 0
1.

Mutual Fund Governance: What Works and What Doesn't?

Number of pages: 53 Posted: 25 Mar 2005
Sophie Kong and Dragon Yongjun Tang
Western Washington University - College of Business & Economics and The University of Hong Kong - Faculty of Business and Economics
Downloads 95

Abstract:

Mutual fund governance, unitary board, board independence, director incentive, fee-setting