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

31

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13,425

CITATIONS
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SSRN RANKINGS

Top 2,928

in Total Papers Citations

269

Scholarly Papers (31)

1.
Downloads 4,011 ( 2,190)
Citation 43

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 2,576 (4,564)
Citation 39

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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 1,435 (12,090)
Citation 41

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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 1,434 (12,357)
Citation 2

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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 (NYU) - Department of Finance, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 416 (68,331)
Citation 6

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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 (NYU) - Department of Finance, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 327 (90,545)

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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 (NYU) - Department of Finance, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 309 (96,459)
Citation 7

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Credit default swap, bankruptcy risk, empty creditor, restructuring

4.

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 (NYU) - Department of Finance, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 886 (25,638)
Citation 4

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5.
Downloads 604 ( 43,231)
Citation 44

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 572 (45,792)
Citation 18

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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 32 (466,806)
Citation 2

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

6.

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 482 (57,660)
Citation 2

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Default Risk, Macroeconomic Conditions, Credit Spread

7.

Subnational Debt of China: The Politics-Finance Nexus

Number of pages: 78 Posted: 01 Jul 2016 Last Revised: 07 Aug 2019
Haoyu Gao, Hong Ru and Dragon Yongjun Tang
Central University of Finance and Economics (CUFE), Nanyang Technological University (NTU) and The University of Hong Kong - Faculty of Business and Economics
Downloads 470 (59,942)
Citation 5

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Government Debt, Selective Default, Career Concern

8.

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 404 (71,495)
Citation 5

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9.

Do Shareholders Benefit from Green Bonds?

Number of pages: 55 Posted: 25 Oct 2018 Last Revised: 24 Nov 2018
Dragon Yongjun Tang and Yupu Zhang
The University of Hong Kong - Faculty of Business and Economics and The University of Hong Kong - Faculty of Business and Economics
Downloads 356 (83,607)

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Green Bonds, Corporate Social Responsibility, Environmental, Social, and Governance (ESG), Institutional Ownership, Stock Liquidity, Investor Attention

Credit Default Swaps: Past, Present, and Future

Number of pages: 25 Posted: 27 Oct 2015
McGill University, Desautels Faculty of Management, New York University (NYU) - Department of Finance, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 311 (95,796)
Citation 1

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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 (NYU) - Department of Finance, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School

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11.

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 292 (103,156)
Citation 1

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

12.

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 (NYU) - Department of Finance, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 275 (110,028)
Citation 1

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13.
Downloads 274 (110,471)
Citation 3

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 161 (183,260)

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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 113 (243,274)
Citation 2

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

14.

CDS Trading and Stock Price Crash Risk

Number of pages: 64 Posted: 15 Jul 2017 Last Revised: 11 May 2019
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 The University of Western Australia - UWA Business School
Downloads 265 (114,338)

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CDS trading; stock price crash risk; information spillover; earning management; compensation incentives

15.

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 260 (116,617)
Citation 2

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Credit Default Swaps, CDS, Net Buying, Liquidity

16.

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 257 (118,027)
Citation 8

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17.

Credit Default Swaps and Bank Regulatory Capital

27th Australasian Finance and Banking Conference 2014 Paper
Number of pages: 60 Posted: 09 Jun 2014 Last Revised: 10 Jan 2018
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 255 (119,050)
Citation 5

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Credit Default Swaps, CDS, Regulatory capital, Risk-weighted assets

18.

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 230 (132,041)

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

19.

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 - Finance and Business Economics Department
Downloads 226 (134,384)

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structured products, suitability check, household investments

20.

Outsourcing Bank Loan Screening: The Economics of Third-Party Loan Guarantees

Number of pages: 47 Posted: 19 Mar 2012 Last Revised: 20 Feb 2019
Chenyu Shan and Dragon Yongjun Tang
Shanghai University of Finance and Economics and The University of Hong Kong - Faculty of Business and Economics
Downloads 198 (152,295)

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Loan guarantee, Outsourcing, Delegated monitoring

21.

Does the Introduction of One Derivative Affect Another Derivative? The Effect of Credit Default Swaps Trading on Equity Options

Number of pages: 53 Posted: 16 May 2018
Jie Cao, Yong Jin, Neil D. Pearson and Dragon Yongjun Tang
The Chinese University of Hong Kong (CUHK) - CUHK Business School, The Hong Kong Polytechnic University - School of Accounting and Finance, University of Illinois at Urbana-Champaign - Department of Finance and The University of Hong Kong - Faculty of Business and Economics
Downloads 179 (166,997)
Citation 2

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CDS, delta-hedged option return, financial intermediation capacity, option market quality, information spillover

22.

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 126 (223,362)
Citation 2

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Credit Default Swaps; CDS; Bank Capital; Financial Innovation

23.

Can Central Banks Boost Corporate Investment? Evidence from the ECB Liquidity Injections

Number of pages: 60 Posted: 13 Feb 2017 Last Revised: 28 Nov 2018
Copenhagen Business School, New York University (NYU) - Department of Finance, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 99 (265,338)
Citation 1

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24.

Bank Dividend Payouts and Contingent Convertible Bond Issuance

Number of pages: 59 Posted: 13 Dec 2017 Last Revised: 08 Dec 2018
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 98 (267,110)

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CoCo Issuance, Dividend Payout Ratio, Tier 1 Capital

25.

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, The University of Hong Kong - Faculty of Business and Economics and University of Warwick - Warwick Business School
Downloads 98 (267,110)

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

26.

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 81 (301,154)

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Credit default swaps, Cash, Liquidity, Empty creditors

27.

Do Banks Still Monitor When There Is a Market for Credit Protection?

Journal of Accounting and Economics, Forthcoming
Number of pages: 62 Posted: 02 Nov 2018 Last Revised: 17 Jul 2019
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 75 (315,052)
Citation 4

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Credit default swaps, CDS, Collateral, Covenants

28.

The Product Market Effects of Derivatives Trading: Evidence from Credit Default Swaps

Number of pages: 64 Posted: 27 Mar 2018 Last Revised: 25 Jul 2018
Jay Y. Li and Dragon Yongjun Tang
City University of Hong Kong and The University of Hong Kong - Faculty of Business and Economics
Downloads 67 (335,310)

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Credit Default Swaps, Product Market, Agency

Property Rights, Political Connections, and Corporate Investment

Number of pages: 61 Posted: 24 Feb 2017 Last Revised: 29 Jul 2019
Meng Miao, Dragon Yongjun Tang and Lixin Colin Xu
Renmin University of China - Hanqing Institute, The University of Hong Kong - Faculty of Business and Economics and World Bank - Development Research Group (DECRG)
Downloads 51 (389,196)

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Institution, Property Rights, Political Connection, Investment

Property Rights, Political Connections, and Corporate Investment

World Bank Policy Research Working Paper No. 8973
Number of pages: 61 Posted: 14 Aug 2019
Meng Miao, Dragon Yongjun Tang and L. Colin Xu
Renmin University of China - Hanqing Institute, The University of Hong Kong - Faculty of Business and Economics and World Bank
Downloads 1 (680,701)

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Judicial System Reform, Common Property Resource Development, Social Policy, Regulatory Regimes, Legislation, Legal Products, Legal Reform, Agricultural Economics, Cultural Heritage & Urban Revitalization, Foreign Trade Promotion and Regulation, Trade Law, De Facto Governments, Democratic Government, Public Sector Administrative & Civil Service Reform, Public Sector Administrative and Civil Service Reform

30.

Comments on 'Measuring Corporate Bond Liquidity in Emerging Markets: Price- vs Quantity-Based Measures'

BIS Paper No. 102f
Number of pages: 4 Posted: 22 May 2019
Dragon Yongjun Tang
The University of Hong Kong - Faculty of Business and Economics
Downloads 8 (591,439)

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31.

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

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Bayesian robustness, portfolio selection, return predictability

Other Papers (1)

Total Downloads: 101
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 101

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