Xin (Simba) Chang

Nanyang Business School

Associate Professor

S3-B1B-76 Nanyang Avenue

Singapore, 639798

Singapore

http://www.ntu.edu.sg/home/changxin

SCHOLARLY PAPERS

35

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CITATIONS
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151

Scholarly Papers (35)

1.

Stock Liquidity and Stock Price Crash Risk

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 54 Posted: 01 Nov 2013 Last Revised: 08 Feb 2016
Xin (Simba) Chang, Yangyang Chen and Leon Zolotoy
Nanyang Business School, Hong Kong Polytechnic University - Faculty of Business and University of Melbourne - Melbourne Business School
Downloads 1,220 (15,576)

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Stock liquidity; Crash risk; Short-termism; Bad news hoarding

2.

Innovation, Managerial Myopia, and Financial Reporting

INSEAD Working Paper No. 2013/35/AC
Number of pages: 56 Posted: 16 Dec 2012 Last Revised: 07 Apr 2015
Xin (Simba) Chang, Gilles Hilary, Jun-Koo Kang and Wenrui Zhang
Nanyang Business School, Georgetown University - Department of Accounting and Business Law, Nanyang Technological University (NTU) - Nanyang Business School and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 1,189 (16,210)

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Accounting conservatism, Innovation, Managerial myopia

3.

Audit Quality, Auditor Compensation and IPO Underpricing

Number of pages: 42 Posted: 30 Jul 2007
Xin (Simba) Chang, André Gygax, Elaine Oon and Hong Feng Zhang
Nanyang Business School, University of Melbourne - Department of Finance, University of Melbourne - Faculty of Business and Economics and Deakin University - Deakin Business School
Downloads 1,110 (17,978)
Citation 5

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Auditor quality, Audit fees, Assurance fees, IPO underpricing

4.

Analyst Coverage and Financing Decisions

Tuck Contemporary Corporate Finance Issues III, Forthcoming
Number of pages: 51 Posted: 03 Aug 2004
Xin (Simba) Chang, Sudipto Dasgupta and Gilles Hilary
Nanyang Business School, Chinese University of Hong Kong, Lancaster University, and CEPR and Georgetown University - Department of Accounting and Business Law
Downloads 1,082 (18,731)
Citation 52

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Adverse Selection, Capital Structure, Analyst Coverage

5.

The Effect of Auditor Quality on Financing Decisions

The Accounting Review, Forthcoming
Number of pages: 48 Posted: 22 Oct 2008 Last Revised: 29 Aug 2013
Xin (Simba) Chang, Sudipto Dasgupta and Gilles Hilary
Nanyang Business School, Chinese University of Hong Kong, Lancaster University, and CEPR and Georgetown University - Department of Accounting and Business Law
Downloads 1,028 (20,121)
Citation 6

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6.

Non-Executive Employee Stock Options and Corporate Innovation

Journal of Financial Economics (JFE), Vol. 115, No. 1, 2015
Number of pages: 50 Posted: 21 Nov 2011 Last Revised: 06 Sep 2017
Xin (Simba) Chang, Kangkang Fu, Angie Low and Wenrui Zhang
Nanyang Business School, Hong Kong Baptist University, Nanyang Technological University - Division of Banking & Finance and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 688 (35,637)

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Employee Stock Options; Corporate Innovation; Risk-taking Incentives; Employee Compensation

7.

Credit Default Swaps and Corporate Innovation

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 63 Posted: 17 Mar 2017 Last Revised: 04 Dec 2017
Nanyang Business School, Hong Kong Polytechnic University - Faculty of Business, University of Warwick - Warwick Business School, Shanghai Jiao Tong University (SJTU) - Antai College of Economics and Management and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 632 (39,962)

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Credit Default Swaps; Corporate Innovation; Risk Taking

Target Behavior and Financing: How Conclusive is the Evidence?

AFA 2007 Chicago Meetings
Number of pages: 67 Posted: 20 Mar 2006
Xin (Simba) Chang and Sudipto Dasgupta
Nanyang Business School and Chinese University of Hong Kong, Lancaster University, and CEPR
Downloads 434 (63,697)
Citation 52

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Capital Structure, Trade-off theory

Target Behavior and Financing: How Conclusive is the Evidence?

Number of pages: 61 Posted: 08 Feb 2007
Xin (Simba) Chang and Sudipto Dasgupta
Nanyang Business School and Chinese University of Hong Kong, Lancaster University, and CEPR
Downloads 190 (155,518)
Citation 52

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Capital Structure, Trade-off theory

9.

Cash Flow Sensitivities and the Allocation of Internal Cash Flow

Review of Financial Studies, Forthcoming
Number of pages: 53 Posted: 03 Nov 2013 Last Revised: 27 Jun 2018
Xin (Simba) Chang, Sudipto Dasgupta, George Wong and Jiaquan Yao
Nanyang Business School, Chinese University of Hong Kong, Lancaster University, and CEPR, The Hong Kong Polytechnic University and Jinan University - Management School
Downloads 615 (41,338)

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Cash Flow Sensitivity, Internal Cash Flow, Higher-order GMM, Beveridge-Nelson Decomposition

Industry Expertise, Information Leakage, and the Choice of M&A Advisors

24th Australasian Finance and Banking Conference 2011 Paper
Number of pages: 48 Posted: 20 Aug 2011 Last Revised: 16 Feb 2015
Xin (Simba) Chang, Chander Shekhar, Lewis Tam and Jiaquan Yao
Nanyang Business School, University of Melbourne, Faculty of Business Administration, University of Macau and Jinan University - Management School
Downloads 594 (42,735)
Citation 4

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Investment banking; Mergers and Acquisitions; Advisory Fees; Advisory Services; Industry Expertise

Industry Expertise, Information Leakage and the Choice of M&A Advisors

Journal of Business Finance & Accounting, Vol. 43, Issue 1-2, pp. 191-225, 2016
Number of pages: 35 Posted: 21 Mar 2016
Xin (Simba) Chang, Chander Shekhar, Lewis Tam and Jason Yao
Nanyang Business School, University of Melbourne, Faculty of Business Administration, University of Macau and Xiamen University - Wang Yanan Institute for Studies in Economics (WISE)
Downloads 0
Citation 4
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investment banking, mergers and acquisitions, advisory fees, advisory services, industry expertise

11.

Do Patents Portend Productivity Growth? Global Evidence from Private and Public Firms

Number of pages: 50 Posted: 25 Dec 2013 Last Revised: 04 Aug 2018
Xin (Simba) Chang, R. David McLean, Bohui Zhang and Wenrui Zhang
Nanyang Business School, Georgetown University - Department of Finance, The Chinese University of Hong Kong, Shenzhen and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 517 (51,764)

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Innovation, Patents, TFP growth, Economic growth

12.

Financing the Deficit: Debt Capacity, Information Asymmetry, and the Debt-Equity Choice

Number of pages: 45 Posted: 29 Sep 2005
Xin (Simba) Chang and Sudipto Dasgupta
Nanyang Business School and Chinese University of Hong Kong, Lancaster University, and CEPR
Downloads 500 (53,976)
Citation 4

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Pecking Order Hypothesis, Tradeoff Theory, Information Asymmetry, Debt Capacity

13.

Employees as Creditors: The Disciplinary Role of Pension Deficits in the Market for Corporate Control

24th Australasian Finance and Banking Conference 2011 Paper, AFA 2013 San Diego Meetings Paper
Number of pages: 59 Posted: 07 Jan 2011 Last Revised: 30 Nov 2012
Xin (Simba) Chang, Jun-Koo Kang and Wenrui Zhang
Nanyang Business School, Nanyang Technological University (NTU) - Nanyang Business School and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 415 (67,898)

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Pension deficits, Market for corporate control, Mergers and acquisitions, Merger announcement returns, Disciplinary role

14.

Managerial Entrenchment and Firm Value: A Dynamic Perspective

Number of pages: 36 Posted: 18 Jan 2010 Last Revised: 03 Aug 2013
Xin (Simba) Chang and Hong Feng Zhang
Nanyang Business School and Deakin University - Deakin Business School
Downloads 412 (68,506)

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Corporate Governance, Managerial Entrenchment, Long Difference Estimator, Reverse Causality, Panel VAR

15.

Financial Constraints, Mispricing and Corporate Investment

Number of pages: 43 Posted: 14 Mar 2008 Last Revised: 18 Mar 2009
George Wong, Robert W. Faff, Wing Chun Kwok and Xin (Simba) Chang
The Hong Kong Polytechnic University, University of Queensland, Monash University - Department of Accounting and Finance and Nanyang Business School
Downloads 410 (68,900)

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Financial constraints, Mispricing, Corporate Investment, Investment-cash flow sensitivity, Financial Flexibility

16.

The Effects of Financial Constraints on Corporate Policies in Australia

Number of pages: 39 Posted: 12 Oct 2005
Xin (Simba) Chang, Tek Jun Tan, George Wong and Hong Feng Zhang
Nanyang Business School, University of Melbourne - Department of Finance, The Hong Kong Polytechnic University and Deakin University - Deakin Business School
Downloads 403 (70,378)
Citation 4

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Financial Constraints, Cash Policy, Investment-Cash Flow Sensitivity, Cash-Cash Flow Sensitivity, Negative Cash Flow, Australian Firms

17.

Institutional Investor Horizons, Information Environment, and Firm Financing Decisions

Number of pages: 69 Posted: 19 Apr 2012 Last Revised: 13 Dec 2018
Xin (Simba) Chang, Yangyang Chen, Kangkang Fu and Endong Yang
Nanyang Business School, Hong Kong Polytechnic University - Faculty of Business, Hong Kong Baptist University and University of Macau
Downloads 330 (88,674)
Citation 1

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Investor horizons, information asymmetry, capital structure, debt maturity, institutional ownership

18.

The Real Impact of Stock Market Mispricing - Evidence from Australia

Number of pages: 33 Posted: 13 Oct 2005
Xin (Simba) Chang, Lewis Tam, Tek Jun Tan and George Wong
Nanyang Business School, Faculty of Business Administration, University of Macau, University of Melbourne - Department of Finance and The Hong Kong Polytechnic University
Downloads 321 (91,457)
Citation 3

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Market Inefficiency, Equity Dependence, Investment, Australian Firms.

19.

The Cross-Sectional Determinants of Post-IPO Stock Performance: Evidence from China

Number of pages: 37 Posted: 06 Oct 2009
Xin (Simba) Chang, Lewis Tam and George Wong
Nanyang Business School, Faculty of Business Administration, University of Macau and The Hong Kong Polytechnic University
Downloads 320 (91,744)
Citation 3

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Post-IPO performance, China Stock Markets, Overvaluation, Ownership Structure, Underwriter Reputation

20.

How Do Firms Allocate Internal Cash Flow? The Effect of Misvaluation and Costly External Financing

Number of pages: 61 Posted: 18 Jan 2012 Last Revised: 27 Sep 2012
Xin (Simba) Chang, Sudipto Dasgupta, George Wong and Jiaquan Yao
Nanyang Business School, Chinese University of Hong Kong, Lancaster University, and CEPR, The Hong Kong Polytechnic University and Jinan University - Management School
Downloads 271 (109,780)

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Cash flow, misvaluation, catering channel, financial constraints, investment, cash holdings, external finance

21.

Financial Constraints and Stock Returns - Evidence from Australia

Number of pages: 30 Posted: 31 Oct 2008 Last Revised: 20 Feb 2010
H. Chan, Xin (Simba) Chang, Robert W. Faff and George Wong
University of Melbourne - Department of Finance, Nanyang Business School, University of Queensland and The Hong Kong Polytechnic University
Downloads 220 (135,571)

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Financial Constraints, Stock Returns, Australian Firms

22.
Downloads 200 (148,310)
Citation 2

Monte Carlo Simulations and Capital Structure Research

International Review of Finance, Vol. 11, No. 1
Number of pages: 49 Posted: 25 Jan 2011
Xin (Simba) Chang and Sudipto Dasgupta
Nanyang Business School and Chinese University of Hong Kong, Lancaster University, and CEPR
Downloads 198 (149,513)
Citation 2

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Capital Structure, Trade-off theory, Market Timing, Debt-equity choice, Look-ahead Bias

Monte Carlo Simulations and Capital Structure Research

International Review of Finance, Vol. 11, No. 1, pp. 19-55, 2011
Number of pages: 37 Posted: 09 Mar 2011
Xin (Simba) Chang and Sudipto Dasgupta
Nanyang Business School and Chinese University of Hong Kong, Lancaster University, and CEPR
Downloads 2 (650,883)
Citation 2
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23.

Stock Liquidity and Corporate Social Responsibility

31st Australasian Finance and Banking Conference 2018
Number of pages: 53 Posted: 06 Mar 2018 Last Revised: 04 May 2019
Xin (Simba) Chang, Weiqiang Tan, Endong Yang and Wenrui Zhang
Nanyang Business School, Hong Kong Baptist University, University of Macau and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 195 (152,649)

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Stock Liquidity, Corporate Social Responsibility (CSR), Investor Horizon, Short-Termism

24.

Conglomerate Structure and Capital Market Timing

Financial Management, Forthcoming
Number of pages: 53 Posted: 15 Dec 2009 Last Revised: 29 Aug 2013
Xin (Simba) Chang, Gilles Hilary, Carmen Shih and Lewis Tam
Nanyang Business School, Georgetown University - Department of Accounting and Business Law, Nanyang Technological University (NTU) - Nanyang Business School and Faculty of Business Administration, University of Macau
Downloads 151 (190,081)
Citation 3

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Conglomerates, Keiretsu, Capital Structure, Market Timing, Japanese Markets, Japanese Firms

25.

Multiplicative Risk Prudence, Inflation Uncertainty and the Real Risk-Free Rate Puzzle

Australian Centre for Financial Studies - Finsia Banking and Finance Conference 2010
Number of pages: 30 Posted: 27 Jul 2010
George Wong, Xin (Simba) Chang and Bruce D. Grundy
The Hong Kong Polytechnic University, Nanyang Business School and University of Melbourne
Downloads 118 (230,716)

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Multiplicative risk, Risk prudence, Background risk, Inflation Uncertainty, Risk-free Rate Puzzle, Precautionary savings.

26.

Corporate Environmental Liabilities and Capital Structure

Number of pages: 44 Posted: 17 Jul 2018
Xin (Simba) Chang, Kangkang Fu, Tao Li, Lewis Tam and George Wong
Nanyang Business School, Hong Kong Baptist University, Central University of Finance and Economics (CUFE) - School of Economics, Faculty of Business Administration, University of Macau and The Hong Kong Polytechnic University
Downloads 102 (255,883)

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corporate social responsibility, environmental liability, capital structure, bank debt

27.

Multiplicative Risk Prudence

Number of pages: 8 Posted: 28 Sep 2005
George Wong and Xin (Simba) Chang
The Hong Kong Polytechnic University and Nanyang Business School
Downloads 93 (271,832)

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Multiplicative risk, Risk prudence, Precautionary saving

28.

External Financing of Last Resort? Bank Lines of Credit as a Source of Long-Term Finance

Number of pages: 66 Posted: 04 Oct 2015 Last Revised: 13 Nov 2017
Nanyang Business School, Tsinghua University - Department of Finance, Chinese University of Hong Kong, Lancaster University, and CEPR and University of New South Wales - Australian School of Business
Downloads 86 (285,513)

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Lines of Credit, Financing of Last Resort, Liquidity Buffer

29.

Corporate Environmental Risk and the Customer-Supplier Relationship

Number of pages: 46 Posted: 05 Dec 2014 Last Revised: 28 Jun 2018
Shantanu Banerjee, Xin (Simba) Chang, Kangkang Fu, Tao Li and George Wong
Lancaster University - Management School, Nanyang Business School, Hong Kong Baptist University, Central University of Finance and Economics (CUFE) - School of Economics and The Hong Kong Polytechnic University
Downloads 70 (322,020)

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corporate social responsibility, product market competition, environmental risk, customer-supplier relationship

30.

The Information Role of Advisors in Mergers and Acquisitions: Evidence from Acquirers Hiring Targets’ Ex-Advisors

Number of pages: 54 Posted: 14 May 2016 Last Revised: 12 Jul 2018
Xin (Simba) Chang, Chander Shekhar, Lewis Tam and Jiaquan Yao
Nanyang Business School, University of Melbourne, Faculty of Business Administration, University of Macau and Jinan University - Management School
Downloads 61 (345,877)

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mergers and acquisitions, investment banking, advisory services, competition, bargaining

31.

Macroeconomic Conditions, Financial Constraints, and Firms’ Financing Decisions

Journal of Banking and Finance, Forthcoming
Number of pages: 47 Posted: 15 Sep 2018 Last Revised: 21 Dec 2018
Xin (Simba) Chang, Yunling Chen and Sudipto Dasgupta
Nanyang Business School, Tsinghua University - Department of Finance and Chinese University of Hong Kong, Lancaster University, and CEPR
Downloads 47 (389,690)

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Capital Structure, Debt Maturity, Financial Constraints, Macroeconomic Conditions, Market Timing

32.

Effects of Financial Constraints on Corporate Policies in Australia

Accounting and Finance, Vol. 47, No. 1, pp. 85-108, March 2007
Number of pages: 24 Posted: 27 Feb 2007
Xin (Simba) Chang, Tek Jun Tan, George Wong and Hongfeng Zhang
Nanyang Business School, University of Melbourne - Department of Finance, The Hong Kong Polytechnic University and University of Melbourne - Department of Finance
Downloads 31 (451,974)
Citation 4
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33.

Audit Quality, Auditor Compensation and Initial Public Offering Underpricing

Accounting & Finance, Vol. 48, Issue 3, pp. 391-416, September 2008
Number of pages: 26 Posted: 14 Aug 2008
Xin (Simba) Chang, André Gygax, Elaine Oon and Hong Feng Zhang
Nanyang Business School, University of Melbourne - Department of Finance, University of Melbourne - Faculty of Business and Economics and Deakin University - Deakin Business School
Downloads 3 (611,686)
Citation 5
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34.

Cross-Sectional Determinants of Post-IPO Stock Performance: Evidence from China

Accounting & Finance, Vol. 50, Issue 3, pp. 581-603, September 2010
Number of pages: 23 Posted: 24 Aug 2010
Xin (Simba) Chang, Shi Hua Lin, Lewis Tam and George Wong
Nanyang Business School, affiliation not provided to SSRN, Faculty of Business Administration, University of Macau and Hong Kong Polytechnic University
Downloads 2 (621,053)
Citation 3
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35.

Corporate Environmental Performance: Determinants and Real Effects

Posted: 22 Apr 2013 Last Revised: 25 Jan 2018
Dianna Chang, Xin (Simba) Chang, Kangkang Fu and Lewis Tam
SIM University (UniSIM), Nanyang Business School, Hong Kong Baptist University and Faculty of Business Administration, University of Macau

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Newsweek, green score, corporate social responsibilities, environmental performance, financial impacts, investment policies