Academic Profile

Academic Profile

Assoc Prof Chang Xin

Associate Professor, College of Business (Nanyang Business School)

Email: changxin@ntu.edu.sg
Assoc Prof Chang Xin

Biography
Xin CHANG is a Professor of Finance at Nanyang Business School of Nanyang Technological University (NTU). He is currently Assistant Dean (Research) overseeing PhD programs at Nanyang Business School. From 2015 to 2017, He was a tenured University Reader in Financial Economics at Cambridge Judge Business School of the University of Cambridge, J M Keynes Fellow in Financial Economics, Fellow of Darwin College, and Research Fellow of Cambridge Endowment for Research in Finance.  From 2004 to 2008, he was a Lecturer and then tenured Senior Lecturer in Finance at the University of Melbourne in Australia.

He specializes in corporate Finance, especially capital structure, mergers and acquisitions, and stock valuation. He had taught various courses to undergraduate, honours, master, and PhD students at HKUST, the University of Melbourne, NTU, and the University of Cambridge.

Xin was awarded Dean's award of Research Excellence in 2006 and Dean's certificate for Excellence in Teaching for 2007 at University of Melbourne. At NTU, he was the researcher of the year for the Division of Banking and Finance in 2009, the MBA Teacher of the Year in 2011, and the Teacher of the year for the Division of Banking and Finance in 2013. He also won Peter Brownell Award for best publication in Accounting and Finance 2007, the best paper awards at the 16th SFM conference in 2008, the 19th SFM conference in 2011, and the 4th World Business Ethics Forum in 2012. He is also the award winner for “Best Professor in Financial Management” in the third Asia’s Best B-School Awards in 2012. In 2013, he received TCFA's (The Chinese Finance Association) best paper award on corporate finance.

Xin earned his Ph.D in Finance in 2004 from Hong Kong University of Science and Technology (HKUST). His educational background also includes a Master degree from the Graduate School of People's Bank of China and a Bachelor degree from the School of Economics and Management of Tsinghua University.
Research Interests
Corporate Finance, Stock Valuation, M&As, Corporate Innovation, Corporate Social Responsibilities
Current Projects
  • Does It Make Economic Sense For Companies To Be Environmentally Responsible?: Corporate Environmental Liabilities and Financing Decisions
  • Financial Constraints, Macroeconomic Conditions, and Debt Maturity
  • Stakeholder Orientation and Cost of Debt
  • Stock Return Sensitivity to Investor Sentiment
Selected Publications
  • Xin Chang, Yangyang Chen, Sarah Qian Wang, Kuo Zhang, Wenrui Zhang. (2017). Credit Default Swaps and Corporate Innovation. Journal of Financial Economics, Forthcoming.
  • Xin Chang, Yangyang Chen, Leon Zolotoy. (2017). Stock Liquidity and Stock Price Crash Risk. Journal of Financial and Quantitative Analysis, 52(4), 1605-1637.
  • Xin Chang, Kangkang Fu, Angie Low, and Wenrui Zhang. (2015). Non-executive Employee Stock Options and Corporate Innovation. Journal of Financial Economics, 115(1), 168-188.
  • Xin Chang, Sudipto Dasgupta, George Wong, and Jiaquan Yao. (2014). Cash Flow Sensitivities and the Allocation of Internal Cash Flow. The Review of Financial Studies, 27(12), 3628-3657.
  • Xin Chang and Hong Feng (John) Zhang. (2013). Managerial Entrenchment and Firm Value: A Dynamic Perspective. Journal of Financial and Quantitative Analysis, Forthcoming.

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