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上海交通大学

个人简历

现任上海高级金融学院执行院长
现任上海高级金融学院金融学教授
曾任中欧国际工商学院主管研究的副教务长
曾任荷兰银行风险管理讲席教授
曾在美国明尼苏达大学卡尔森管理学院担任金融学教授17年

研究领域

公司金融、银行监管与风险管理、国际金融体系

教育背景

1982年 获得华东师范大学数学系学士学位
1983年 获得美国俄勒冈大学数学系硕士学位
1987年 获得美国西北大学凯洛格管理学院管理经济学和决策科学博士学位

学术兼职

曾担任中国留美经济学会会长
曾是研究中国经济领头的国际期刊《中国经济评论》的执行主编

研究成果

主要论文:
[1] "The Dynamic Structure of Optimal Debt Contracts," Journal of Economic Theory, October, 1990.
[2] "Capital Structure as an Optimal Contract between Employees and Investors," Journal of Finance, July 1992.
[3] "Optimal Liquidation Rule and Debt in the Principal-Agent Model" (coauthored with Yijiang Wang), Economics Letters, 40, 1992.
[4] "Payout Policy, Capital Structure, and Compensation Contracts when Managers Value Control," Review of Financial Studies, 1993
[5] "The Nature of Township-Village Enterprises" (coauthored with Yijiang Wang), Journal of Comparative Economics 19, 434-452, 1994.
[6] "A Framework for Understanding Differences in Employment Stability and Human Capital Investment" (coauthored with Yijiang Wang), Journal of Economic Behavior and Organization, 28, 91-105, 1995.
[7] "Human Capital Investment under Asymmetric Information: the Pigovian Conjecture Revisited" (coauthored with Yijiang Wang), Journal of Labor Economics, 14, 505-519, 1996.
[8] “Some Empirical Implications of a Model of Human Capital Investment under Asymmetric Information” (coauthored with Yijiang Wang), Research in Labor Economics, 16, 103-117, 1997.
[9] “Moral Hazard under Commercial and Universal Banking” (with John Boyd and Bruce Smith), Journal of Money, Credit and Banking, 30, 426-468, 1998.
[10] “Towards a Model of the Organizations in China as a Partially Reformed Developing Economy,” (coauthored with Yijiang Wang), China Economic Review 1998.
[11] “Capital Structure as Optimal Contracts,” North American Journal of Economics and Finance 10, 363-385, 1999.
[12] "Choosing between Up-or-Out and Spot Contracts: Human Capital Investment versus Job-Matching Considerations," (coauthored with Yijiang Wang), Annals of Economics and Finance, 1, 189-210, 2000.
[13] “The Informational Requirement on Financial Systems at Different Stages of Economic Development: The Case of South Korea,” China Economic Quarterly, Vol. 1, No. 1, pp 111-126. 2001.
[14] “Deposit Insurance: A Reconsideration” (with John Boyd and Bruce Smith), Journal of Monetary Economics 49, 1235-1260, 2002.
[15] “Incentive Contracting versus Ownership Reforms: Evidence from China’s Township-Village Enterprises” (with Brian McCall and Yijiang Wang), Journal of Comparative Economics 31, 414-428, 2003.
[16] “Deposit Insurance and Bank Regulation in a Monetary Economy: a General Equilibrium Exposition” (with John Boyd and Bruce Smith), Economic Theory, 2004
[17] “Investment Opportunities, Liquidity Premiums and Conglomerate Mergers” (with Xiaoyun Yu), Journal of Business 77, 45-74, 2004
[18] "Informational Efficiency and Liquidity Premium as the Determinants of Capital Structure" (with Xiaoyun Yu), Journal of Financial and Quantitative Analysis 45 : 401-440, Cambridge University Press. April 2010.
[19] “Bookbuilding vs. fixed price revisited: The effect of aftermarket trading”(with Walid Busaba), Journal of Corporate Finance 16, 370–381, Elsevier, 2010.
[20] “ What are the Reliably Important Determinants of Capital Structure in China,” (with Xin Chen and Guanmin Liao), forthcoming, Pacific-Basin Finance Journal
[21] “Information from relationship lending: Evidence from China,” (with Liao Guanmin, Xiaoyun Yu, Zheng Ni),forthcoming, Journal of Money, Credit and Banking
主要著作:
[1] Corporate Finance for Chinese Entrepreneurs, in Chinese, Peking University Press, 2006
[2] Corporate Finance, in Chinese, Remin University Press, 2008
[3] Supply Chain Finance: New Finance in New Economy, (authored by a research team led by Chun Chang) published in Chinese, Shanghai Yuandong Publishing. January, 2009

联系方式

cchang@saif.sjtu.edu.cn