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張志向 姓  名 張志向 Chih-Hsiang Chang 
學  歷 國立中正大學財務金融所博士 
專  長 投資管理、行為財務學、市場微結構、公司理財 
開設課程 財務管理個案研究、行為財務、財務實證研究、投資組合管理、期貨與選擇權 
聯絡方式 (07) 5919505  研究室 M01-513 


| Chih-Hsiang Chang, 2017, “Exploring stock recommenders’ behaviors and recommendation receivers’ sophistication”, Journal of Economics and Finance, Vol. 41, Vol. 1, pp. 1-26. (科技部財務領域B+級國際期刊) (Leading Article)

| C.-F. Huang, Chih-Hsiang Chang, L.-M. Kuo, and T.-N. Hsieh, 2017, “The disposition effect, price performance, and fundamentals of IPOs: Evidence from Taiwan,” Investment Analysts Journal, Vol. 46, No. 4, pp. 263-278. (SSCI) (Corresponding Author)

 | Chih-Hsiang Chang, S.-S. Chen, and S.-L. Hsieh, 2017, “Asymmetric reinforcement learning and conditioned responses during the 2007–2009 global financial crisis: Evidence from Taiwan”, Review of Pacific Basin Financial Markets and Policies, Vol. 20, No. 2, pp. 1750010-1~1750010-44.  (科技部財務領域B級國際期刊)

| N. Xu, K. C. Chan, and Chih-Hsiang Chang, 2016, “A quality-based global assessment of financial research”, Review of Quantitative Finance and Accounting, Vol. 46, No. 3, pp. 605-631.  (科技部財務領域A-級國際期刊)

| C. Cao, T. Zhang, Chih-Hsiang Chang, and K. C. Chan, 2016, “International Review of Economics and Finance (1992-2015): The past 24 years and beyond”, International Review of Economics and Finance, Vol. 44, July, 99. 266-276. (SSCI) (科技部財務領域B+級國際期刊)

| Chih-Hsiang Chang and S.-J. Lin, 2015, “The effects of national culture and behavioral pitfalls on investors’ decision-making: Herding behavior in international stock markets”, International Review of Economics & Finance, Vol. 37 May, pp. 380-392. (SSCI; Categories: Business, Finance)  (科技部財務領域B+級國際期刊)

| K. C. Chan, Chih-Hsiang Chang, and Y. Chang, 2015, “The networking effects of publishing in finance”, North American Journal of Economics and Finance, Vol. 33, pp. 305-316. (SSCI; Categories: Business, Finance; 2013 Impact Factor: 1.50)

| Chih-Hsiang Chang, H.-H. Huang, Y.-C. Chang, and, T.-Y. Lin, 2015, “Exploring the effect of stock characteristics on investors’ trading behavior and psychological pitfalls”, Managerial Finance, Vol. 41, No. 12, pp. 1298-1317.  (科技部財務領域B+級國際期刊)

| M. Zhou, Chih-Hsiang Chang, and K. C. Chan, 2015, “A retrospective evaluation of The North American Journal of Economics and Finance (1990-2014),” North American Journal of Economics and Finance, Vol. 32, pp. 1-11. (SSCI; Categories: Business, Finance; 2013 Impact Factor: 1.50) 

| K. C. Chan, Chih-Hsiang Chang, J. Y. Tong, and F. Zhang, 2014, “A long-term assessment of research productivity in accounting and finance departments in UK: 1991-2010”, Managerial Finance, Vol. 40, No. 4, pp. 416-431. (科技部財務領域B+級國際期刊)

| Chih-Hsiang Chang and W.-S. Chiang, 2014, “Conditioning responses towards measures relating to the capital cost of short-sellers: Evidence from Taiwan”, Review of Pacific Basin Financial Markets and Policies, Vol. 17, No. 3, pp. 1450019-1~1450019-27. (科技部財務領域B級國際期刊)

| K. C. Chan and Chih-Hsiang Chang, 2014, “Analysis of bond, real estate, and stock market returns in China”, The Chinese Economy, Vol. 47, No. 2, pp. 1-7. (EconLit; JEL) (Leading Article)

| C.-F. Huang, T.-N. Hsieh, B. R. Chang, and Chih-Hsiang Chang, 2014, “A study of risk-adjusted stock selection models using genetic algorithms,” Engineering Computations, Vol. 31, No.8, pp. 1720-1731. (SCI-Expanded)

| K. C. Chan, Chih-Hsiang Chang, and Y. Chang, 2013, Ranking of Financial Journals: Some Google Scholar Citation Perspectives, Journal of Empirical Finance, Vol. 21, No. 2, pp. 241-250. (SSCI; Categories: Business, Finance) (科技部財務領域ATier-1級國際期刊) (Corresponding Author)

| Chih-Hsiang Chang, 2013, “The behavior of commercial paper rates: Data frequencies and great events”, Chiao Da Management Review, Vol. 33, No.1, 65-104. (TSSCI)

| L.-C. Lee, Chih-Hsiang Chang, C.-C. Tsai, and T.-Y. Cheng, 2013, “The effect of psychological pitfalls on investors’ reaction and repurchasing firms’ motivation”, Asia Pacific Management Review, Vol. 18, No. 1, pp. 1-23. (TSSCI) (Corresponding Author) (Leading Article)

| I.-H. Huang, H.-H. Huang, Chih-Hsiang Chang, and W.R. Yang, 2013, Testing cost of capital effects of Taiwans first stock market liberalization, Journal of Financial Studies, Vol. 21, No. 3, pp. 63-96. (TSSCI)

| H.-H. Huang, M.-L. Chan, Chih-Hsiang Chang and J.-L. Wong, 2012, Is corporate governance related to the conservatism in management earnings forecasts? Emerging Markets Finance and Trade, Vol. 48, No. 2, pp.105-121. (SSCI; Categories: Business)

| K. C. Chan, Chih-Hsiang Chang, J. Y. Tong, and F. Zhang, 2012, “An analysis of the accounting and finance research productivity in Australia and New Zealand in 1991-2010”, Accounting and Finance, Vol. 52, No. 1, pp. 249-265. (SSCI; Categories: Business, Finance) (科技部財務領域B+級國際期刊)

| Chih-Hsiang Chang, C.-C. Tsai, I.-H. Huang, and H.-H. Huang, 2012, “Intraday evidence on the relationship among great events, herding behavior, and investor’s sentiments”, Chiao Da Management Review, Vol. 32, No. 1, pp. 61-106. (TSSCI)

| K. C. Chan, Chih-Hsiang Chang, and Y. Chen, 2012, “A retrospective analysis of financial research  by world-wide central banks and international monetary organizations”, Applied Economics Letters, Vol. 19, No. 18, pp. 1917-1922. (SSCI; Categories: Economics)

| Chih-Hsiang Chang, 2011, IPO underpricing: A social comparison perspective, International Review of Economics & Finance, Vol. 20, No. 3, pp.367-375. (SSCI; Categories: Business, Finance) (科技部財務領域B+級國際期刊)

| Chih-Hsiang Chang and K. C. Chan, 2011, “Investment banks’ stock ratings, call warrant issuance, and responses from heterogeneous investors: Evidence from Taiwan”, International Review of Economics & Finance, Vol. 20, No. 4, pp.733-743. (SSCI; Categories: Business, Finance) (科技部財務領域B+級國際期刊)

| H.-H. Huang, M.-L. Chan, I.-H. Huang, and Chih-Hsiang Chang, 2011, Stock price volatility and overreaction in a political crisis: The effects of corporate governance and performance, Pacific-Basin Finance Journal, Vol. 19, No.1, pp. 1-20. (SSCI; Categories: Business, Finance) (科技部財務領域ATier-2級國際期刊) (Leading Article)

| K. C. Chan, Chih-Hsiang Chang, and C. R. Chen, 2011, “Financial research in the European region: A long-term assessment (1990-2008)”, European Financial Management, Vol. 17, No. 2, pp. 391-411. (SSCI) (科技部財務領域ATier-2級國際期刊)

| Chih-Hsiang Chang, H.-I. Cheng, I.-H. Huang, and H.-H. Huang, 2011, “Lead-lag relationship, volatility asymmetry, and overreaction phenomenon”, Managerial Finance, Vol. 37, No. 1, pp.47-71.  (科技部財務領域B+級國際期刊)

| K. C. Chan, Chih-Hsiang Chang, and Y. Ling Lo, 2011, Financial research in Canada: A long-run assessment of journal publications, Canadian Journal of Administrative Sciences, Vol. 28, No. 1, pp. 91-103. (SSCI) (2009 Impact Factor = 0.405; Categories: Business) (科技部管理一學門組織與管理領域認可之國際期刊)

| 黃旭輝、黃一祥與張志向,2011年,重大資本支出後的經營績效:成長機會與公司治理的角色,「臺大管理論叢」,第二十二卷第二期,頁297-326(TSSCI)

| 黃旭輝、林佳慧、黃一祥與張志向,2011年,修正式無保留意見是否預告了公司不佳的經營績效?,「管理與系統」,第十八卷第二期,頁239-266(TSSCI)

| K. C. Chan, Chih-Hsiang Chang, and Y. Chen, 2011, “Retrospective analysis of financial research among Korean institutions and authors (1990-2010)”, Asia-Pacific Journal of Financial Studies, Vol. 40, No. 4, pp. 599-626.  (SSCI; Categories: Business, Finance) (科技部財務領域B+級國際期刊)

| C.-F. Huang, B. R. Chang, D. Cheng, and Chih-Hsiang Chang, 2011, "Feature selection and parameter optimization of a fuzzy-based stock selection model using genetic algorithms", International Journal of Fuzzy Systems,Vol. 14, No. 1, pp. 65-75. (SCI-Expanded)

| 黃一祥、呂耿光、黃旭輝與張志向,2010年,公司特有風險與橫斷面股票預期報酬--台灣股市之實證,「經濟論文」,第三十八卷第三期,第503-542頁。(TSSCI)

| Chih-Hsiang Chang, H.-G. Fung, and P. Lai, 2010, “China focus mutual funds: An analysis of selectivity and market timing performance”, The Chinese Economy, Vol. 43, No. 5, pp.5-14. (EconLit; JEL) (Leading Article)

| K. C. Chan, Chih-Hsiang Chang, and Y. L. Lo, 2009, “A retrospective evaluation of European financial management (1995–2008)”, European Financial Management, Vol. 15, No. 3, pp.676-691. (SSCI; Categories: Business, Finance) (科技部財務領域ATier-2級國際期刊)

| Chih-Hsiang Chang, K. C. Chan, and H.-G. Fung, 2009, “Effect of money supply on real output and price in China”, China & World Economy, Vol. 17, No. 2, pp.35-44.(SSCI; Categories: Economics)

| Chih-Hsiang Chang and S.-L. Hsieh, 2008, “Is the daily price limit of the Taiwan Stock Exchange effective? Fundamentals of listed stocks and investors’ perception of fair price”, Asia-Pacific Journal of Financial Studies, Vol. 37, No. 4, pp.675-726. (SSCI; Categories: Business, Finance) (科技部財務領域B+級國際期刊)

| 黃旭輝、張憶如、黃一祥與張志向,2008年,首次海外存託憑證發行對公司價值的影響:金融自由化與公司特性的角色,「管理評論」,第二十七卷第一期,第83-107頁。(TSSCI)

| L. P. Hsueh, Chih-Hsiang Chang, and N. R. Lee, 2007, “The information content of initial firm rating announcements”, Journal of Financial Studies, Vol. 15, No. 4, pp.19-36. (TSSCI)