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常鑫

（南洋理工大學南洋商學院教授）

鎖定
常鑫，男，滿族，吉林長春人，金融學博士學位。現任南洋理工大學南洋商學院 銀行與金融系教授（終身職）/副院長（科研），博士生項目主任，博士生導師；同時兼任劍橋大學中國管理研究中心研究員。 [1-2] 
研究領域涵蓋公司金融/資產定價/會計研究。具體研究方向包括資本結構、企業創新、企業社會責任、企業併購重組、政治腐敗、公司治理、財務報告、信息披露等。他的研究成果多次發表在在國際頂尖學術期刊上，包括Journal of Finance, Journal of Financial Economics, Review of Financial Studies, The Accounting Review和Journal of Financial and Quantitative Analysis等。 [1]  [3] 
常教授還擔任亞太金融研究期刊（Asia-Pacific Journal of Financial Studies, SSCI）副主編以及國際金融評論（International Review of Finance, SSCI）副主編，並擔任多個國際頂級學術期刊（包括Journal of Finance, Review of Financial Studies, Journal of Financial Economics, The Accounting Review, Management Science等）的匿名審稿人，同時是英國、香港、澳大利亞、新加坡和加拿大研究委員會的科研項目評審專家。 [2-3] 
此前他曾任英國劍橋大學嘉治商學院（Judge Business School）終身職準教授（University Reader in Financial Economics）及劍橋大學凱恩斯學者（Keynes Fellow in Financial Economics）、澳大利亞墨爾本大學經濟與商業學院高級講師（終身職）、日本發展銀行Shimomura學者。 [1-2] 
中文名
常鑫
畢業院校
清華大學，香港科技大學
學位/學歷
金融學博士
專業方向
公司金融，資產定價，會計研究
職    務
南洋理工大學金融學教授（終身職）
職    稱
教授

目錄

  1. 1 教育背景
  2. 2 工作經歷
  3. ▪ 學術經歷
  4. ▪ 劍橋大學行政經歷
  5. ▪ 行業經歷
  6. 3 獎項與榮譽
  1. 4 學術成果
  2. ▪ 論文發表
  3. ▪ 研究興趣
  4. 5 科研項目與基金
  5. 6 學術服務
  6. ▪ 期刊編委
  1. ▪ 期刊審稿人
  2. ▪ 出版商書籍評審
  3. ▪ 科研項目審理人
  4. ▪ 學術晉升評審
  5. ▪ 會議主題報告人
  6. ▪ 學術會議組委

常鑫教育背景

1998年至2004年，香港科技大學, 商學院，金融學，博士 [1] 
1996年至1998年，中國人民銀行總行研究生院（現為清華大學五道口金融學院），貨幣與銀行學，碩士 [2] 
1990年至1995年，清華大學，經濟管理學院，管理信息系統學，學士 [2] 

常鑫工作經歷

常鑫學術經歷

2020年至今 新加坡南洋理工大學南洋商學院，副院長（科研） [1-2] 
2022年至今 新加坡南洋理工大學 可持續金融與創新中心(Centre for Sustainable Finance and Innovation)，聯席主任 [3] 
2019年至今 新加坡南洋理工大學南洋商學院，教授（終身職） [1] 
2018年至今 英國劍橋大學中國管理研究中心， 研究員 [2] 
2019年至2020年 新加坡南洋理工大學南洋商學院，助理院長（科研）、博士項目主任 [1-2] 
2018年至2019年 新加坡南洋理工大學南洋商學院，金融博士項目主任 [1-2] 
2011年至2019年 新加坡南洋理工大學南洋商學院，副教授（終身職） [1] 
2016年至2018年 英國劍橋大學嘉治商學院 金融經濟學，準教授（終身職） [2] 
2015年至2018年 英國劍橋大學， 凱恩斯學者（金融經濟學） [2] 
2015年至2018年 英國劍橋大學金融研究中心，研究員 [2] 
2015年至2018年 英國劍橋大學達爾文學院，院士 [2] 
2016年至2019年 澳大利亞迪肯大學(Deakin University)，教授研究員（Professional Research Fellow） [2] 
2016年 日本發展銀行，Shimomura學者 [2] 
2008年至2011年 新加坡 南洋理工大學南洋商學院， 助理教授
2006年至2007年 澳大利亞墨爾本大學經濟與商業學院，高級講師（終身職） [2] 
2004年至2006年 澳大利亞墨爾本大學經濟與商業學院，講師 [2] 
南洋理工大學行政經歷
學術晉升與終身教職評審委員，南洋商學院，2021至今 [2] 
學術晉升與終身教職評審委員，社會科學學院，2021至今 [2] 
教職招聘委員會委員，社會科學學院，2020至今 [2] 
SSRTG項目內部審核委員會聯席主席，2020至今 [2] 
研究誠信委員會委員，2020至今 [2] 
大學教務會委員，2020-2022 [2] 
Member of Research Student Progress Committee of Graduate College, NTU, 2019至今 [2] 
南洋商學院研究數據管理, 2009至今 [2] 
NBS Committee for Business of Culture, Culture of Business (BoC/CoB), NTU, 2015-2016 [2] 
Member of Department Reappointment Committee, 2014 [2] 
銀行與金融系招聘委員會委員, 2012- 2014 [2] 

常鑫劍橋大學行政經歷

投資/金融委員會委員, 達爾文學院, 2016至今 [2] 
金融學研究生審查委員會主席, 劍橋大學嘉治商學院, 2015-2018 [2] 
金融講座負責人, 劍橋大學嘉治商學院, 2016-2017 [2] 

常鑫行業經歷

2009年至2016年 Rega Capital Management, Director [2] 
2009年至2019年 Rega Capital Dynamic Value Fund in Hong Kong [2] 

常鑫獎項與榮譽

常鑫教授榮獲眾多科研以及教學獎項： [2] 
2020 最佳博士生導師獎， 南洋理工大學
2017 凱恩斯學者，劍橋大學
2013 最佳論文獎，全美華人金融協會（TCFA）公司金融領域
2013 年度教師，南洋理工大學銀行與金融系
2013 入圍南洋教育獎終選
2012 最佳金融教授獎，第三屆亞洲最佳商學院獎
2012 最佳論文獎，4th World Business Ethics Forum
2012 入圍南洋教育獎終選
2011 MBA年度教師，南洋商學院
2011 最佳論文獎，19th Conference on the Theories and Practices of Securities and Financial Markets (SFM)
2009 年度科研之星，南洋理工大學銀行與金融系
2008 Peter Brownell Award 最佳論文獎， Accounting and Finance期刊
2008 最佳論文獎，16th Conference on the Theories and Practices of Securities and Financial Markets (SFM)
2007 院長教學獎，墨爾本大學
2006 院長科研獎，墨爾本大學

常鑫學術成果

常鑫論文發表

以下是常鑫教授發表的論文（截止至2022年12月） [2] 
(1) Xin Chang, Sudipto Dasgupta, and Gilles Hilary, 2006, “Analyst Coverage and Financing Decisions”, Journal of Finance, Vol. 61, Issue 6, 3009-3048.
(2) Xin Chang and Sudipto Dasgupta, 2009, “Target Behavior and Financing: How Conclusive is the Evidence?”, Journal of Finance, Vol 64, No 4, pp. 1767-1796.
(3) Xin Chang, Sudipto Dasgupta, and Gilles Hilary, 2009, “The Effect of Auditor Choice on Financing Decisions”, The Accounting Review, Vol. 84, No. 4, pp. 1085-1117.
(4) Xin Chang, Sudipto Dasgupta, George Wong, and Jiaquan Yao, 2014, “Cash Flow Sensitivities and the Allocation of Internal Cash Flow”, Review of Financial Studies Vol. 27, Issue 12, pp. 3628-3657,
(5) Xin Chang, Kangkang Fu, Angie Low, and Wenrui Zhang, 2015, “Non-executive Employee Stock Options and Corporate Innovation”, Journal of Financial Economics, Vol. 115, Issue 1, pp. 168-188.
(6) Xin Chang and Hong Feng (John) Zhang, 2015, “Managerial Entrenchment and Firm Value: A Dynamic Perspective”, Journal of Financial and Quantitative Analysis, Vol. 50, Issue 5, pp. 1083-1103.
(7) Xin Chang, Yangyang Chen, and Leon Zolotoy, 2017, Stock Liquidity and Stock Price Crash Risk, Journal of Financial and Quantitative Analysis, Vol. 52, No. 4, pp. 1605-1637.
(8) Xin Chang, Yangyang Chen, Sarah Qian Wang, Kuo Zhang, Wenrui Zhang, 2019, Credit Default Swaps and Corporate Innovation, Journal of Financial Economics, 134(2), pp. 474-500.
(9) Xin Chang, Yunling Chen, and Ronald W Masulis, Bank Lines of Credit as a Source of Long-term Finance, Journal of Financial and Quantitative Analysis, Forthcoming.
(10) Xin Chang and Honghai Yin, 2003, Daniel Kahneman and Behavioural Economics, Advances in Psychological Science (In Chinese), Vol 11, No.3, pp 256-261.
(11) Xin Chang, Tek Jun Tan, George Wong, and Hongfeng Zhang, 2007, “The Effects of FinancialConstrainson Corporate Policies in Australia”, Accounting and Finance, Vol. 47, pp. 85-108.
(12) Xin Chang, Lewis Tam, Tek Jun Tan, and George Wong, 2007, “The Real Impact of Stock Market Mispricing - Evidence from Australia”, Pacific Basin Finance Journal, Vol. 15, pp. 388-408.
(13) Xin Chang, André Gygax, Elaine Oon, and Hongfeng Zhang, 2008, “Audit Quality, Auditor Compensation and IPO Underpricing”, Accounting and Finance, Vol. 48, pp. 391-416.
(14) Xin Chang, Lewis Tam, Shi Hua Lin, and George Wong, 2010, “The Cross-Sectional Determinants of Post-IPO Stock Performance: Evidence from China”, Accounting and Finance, Vol. 50, Issue 3, pp. 581-603.
(15) Xin Chang, Gilles Hilary, Carmen Shih, and Lewis Tam, 2010, “Conglomerate Structure and Capital Market Timing”, Financial Management, pp. 1307-1338 (Lead Article).
(16) Howard Chan, Xin Chang, Robert Faff, and George Wong, 2010, “Financial Constraints and Stock Returns - Evidence From Australia”, Pacific Basin Finance Journal, Vol. 18, Issue 3, pp. 306-318.
(17) Xin Chang and Sudipto Dasgupta, 2011, “The Value of Monte Carlo Simulations for Capital Structure Research”, International Review of Finance, Vol 11 (Special Issue on Capital Structure I), No 1, pp.19-55.
(18) Xin Chang, Chander Shekhar, Lewis H.K. Tam, and Jiaquan Yao, 2016, Industry Expertise, Information Leakage, and the Choice of M&A Advisors, Journal of Business Finance and Accounting, Volume 43, Issue 1-2, pages 191–225.
(19) Xin Chang, Chander Shekhar, Lewis H.K. Tam, and Jiaquan Yao, 2016, The Information Role of Advisors in Mergers and Acquisitions: Evidence from Acquirers Hiring Targets’ Ex-advisors, Journal of Banking and Finance, Vol 70, pp. 247-264.
(20) Xin Chang, Yunling Chen, and Sudipto Dasgupta, 2019, Macroeconomic Conditions, Financial Constraints, and Firms’ Financing Decisions, Journal of Banking and Finance, Vol 101, pp. 242-255.
(21) Dianna Chang, Xin Chang, Yu He, and Kelvin Tan, 2022, The Determinants of COVID-19 Morbidity and Mortality across Countries, Scientific Reports (the open access journal of Nature), 12, 5888.
(22) Xin Chang, KangkangFu, Yaling Jin, and Pei Fun Liem, 2022, Sustainable Finance: ESG/CSR, FirmValue, and Investment Returns, Asia-Pacific Journal of Financial Studies, Volume 51, Issue 3, pp. 325-371.
(23) Xin Chang, Louis T.W.Cheng, Wing Chun Kwok, and George Wong, Stock Price Crash Risk and Firms’Operating Leverage, Journal of Financial Stability, Forthcoming.

常鑫研究興趣

Corporate Finance: Capital Structure, Corporate Innovation, Corporate Governance, Employee Compensation, Mergers and Acquisitions, Political Corruption, Financial Innovation, Corporate Social and Environmental Responsibility [1] 
Asset Pricing: Stock Valuation, Stock Liquidity, Asset Pricing Factors
Accounting: Financial Reporting, Analyst Coverage, Accounting Conservatism, Audit Quality

常鑫科研項目與基金

  1. Faculty Research Grant, University of Melbourne, “The Effect of Auditor Choice on Financing and Investing Decisions”, Principal Investigator (2004) [2] 
  2. Faculty Research Grant, University of Melbourne, “The Information Content of Turnover Beta”, Principal Investigator (2004)
  3. Faculty Research Grant, University of Melbourne, “Investment-Cash flow Sensitivity and Lumpy Investment”, Principal Investigator (2004)
  4. Melbourne Centre for Financial Studies Research Grant, “Dynamic Capital Structure Choice”, Principal Investigator (2005)
  5. Faculty Research Grant, University of Melbourne, “Corporate Governance and Financing Decisions”, Principal Investigator (2006)
  6. Faculty Research Grant, University of Melbourne, “Stock Return Sensitivity and Investor Sentiment in China”, Principal Investigator (2006)
  7. Melbourne Centre for Financial Studies Research Grant, “The impact of market timing on the cost of equity”, Principal Investigator (2006)
  8. Faculty Research Grant, University of Melbourne, “Prior Relationship, Information Leakage, and the Choice of M&A Advisor ”, Principal Investigator (2007)
  9. Hong Kong RGC research grant, “Financing and Market Activity”, Co-investigator
  10. URC-SUG grant, “Stock Return Sensitivity to Investor Sentiment”, Principal Investigator (2008)
  11. AcRF Tier 1 grant, “Financial Constraints, Macroeconomic Conditions, and Debt Maturity”, Principal Investigator (2008)
  12. The British Academy/ACU Grants for International Collaboration, “Corporate Governance and Financing Decisions ”, Co-investigator (2010)
  13. New InitiativeFund/Co-PI, “Energy and Electronic Couplings at Nanoparticle-Polymer Interfacein Organic Photovoltaic Cells”, Co-investigator (2011)
  14. Rega Research Grant, “Investor Sentiment Index in China”, Principal Investigator (2011)
  15. Hong Kong General Research Fund (GRF), “Corporate Environmental Risk and the Customer-Supplier Relationship”, Co-investigator (2014)
  16. Hong Kong General Research Fund (RGC), “Corporate Trademarks”, Co-investigator (2015)
  17. 中國教育部哲學社會科學研究重大課題攻關項目, ”Internet Finance Risk Management and Its Multiple Auditing and Monitoring Methods”, Co-investigator (2015)
  18. Cambridge Endowment for Research in Finance (CERF), “Product Market Competition and Corporate Trademarks” (2015)
  19. Cambridge Judge Business School, “Firm Valuation and the Allocation of Internal Funds” (2016)
  20. AcRF Tier 1 grant, “Does It Make Economics Sense to be Environmental Responsible? Corporate Environmental Liabilities and Financing Decisions”, Principal Investigator (2018)
  21. Humanity and Social Science Grant, Ministry of Education of the People’s Republic of China, Evaluating Corporate Environmental Responsibility in China, Principal Investigator (2018).
  22. Faculty Research Grant, “DRIP Arbitrage and Manipulative Trading: International Evidence”, Deakin University, Co-PI (2018).
  23. MOE AcRF Tier 1 Research Integrity Grant, “Evidence for P-hacking in Experimental Business Research and Potential Remedies”, Principal Investigator (2019).
  24. MOE AcRF Tier 1 Thematic Grant, “How Smart are Blockchain-based Smart Contracts? Evidence from the Finance Industry”, Principal Investigator (2019).
  25. National Natural Science Foundation of China, “The Economic Value of Technological Innovation: Measurement, Determinants, and Economic Consequences”, Co-PI (2020).
  26. The Accelerating Creativity and Excellence (ACE) Funding, “Developing a Public-Private Partnership by Crowdfunding to Create Sustainable Plastics Upcycling Technologies”, Co-PI (2021)
  27. National Natural Science Foundation of China, “Theoretical Research on the M&A and Reorganization of State-owned Capital”, Co-PI (2021)
  28. The General Research Fund (GRF) of Hong Kong, Does “cov-lite” loans improve firms’ financial flexibility? Evidence from corporate innovation, Co-PI (2021)
  29. Advance Capital Partners, MSCI Index Inclusion and Stock Returns, PI (2021).

常鑫學術服務

常鑫期刊編委

副主編, International Review of Finance (Wiley), 2017年至今 [2] 
副主編, Asia-Pacific Journal of Financial Studies (Wiley), 2015年至今
主編, Special Issue on Sustainable Finance, Asia-Pacific Journal of Financial Studies (Wiley), 2021-2022
主編, Journal of Internet and Digital Economics (網絡與數字經濟), 2021-Present

常鑫期刊審稿人

Journal of Finance; Journal of Financial Economics; Review of Financial Studies; Management Science, Journal of Financial and Quantitative Analysis; The Accounting Review; ContemporaryAccounting Research; Financial Management; Journal of Economic Dynamics and Control; Journal of Corporate Finance; Journal of Banking and Finance; Advances in Accounting; Journal of Accounting, Auditing, and Finance; European Journal of Finance; Journal of Business Finance and Accounting; Journal of EmpiricalFinance; Journal of Financial Research; Journal of Behavioral Finance; Accounting and Finance; Asia-Pacific Journal of Financial Studies, British Journal of Management; British Accounting Review; China Economic Review; Corporate Governance: An International Review; Auditing:A Journal of Practice & Theory; Emerging Markets Review; European FinancialManagement; International Review of Finance; Pacific Basin Finance Journal; International Review of Economics and Finance; InternationalJournal of Financial Studies; Journal of Multinational Financial Management; Journal of Behavioral and ExperimentalEconomics; Journal of Business Research; Mathematical Problems in Engineering; North American Journal of Economics and Finance [2] 

常鑫出版商書籍評審

Pearson; Routledge; Cambridge University Press

常鑫科研項目審理人

Australian Research Council [2] 
Australian Centre for Financial Studies
Economic and Social Research Council (U.K.)
Israel Science Foundation
SocialSciences and Humanities Research Council of Canada
The Research Grants Council (RGC) of Hong Kong
National Natural Science Foundation of China

常鑫學術晉升評審

Australian National University, Australia [2] 
Deakin University, Australia
La Trobe University, Australia
The University of Melbourne, Australia
Monash University, Australia
Peking University, China
Shanghai University of Finance and Economics, China
Tsinghua University, China
Xiamen University, China
Zhejiang University, China
ESSEC Business School, France
Chinese University of Hong Kong, Hong Kong
City University of Hong Kong, Hong Kong
Hong Kong Polytechnic University, Hong Kong
Lingnan University of Hong Kong, Hong Kong
The Hang Seng University of Hong Kong
The University of Macau, Macau
Singapore Management University, Singapore
The University of Manchester, the U.K.
Durham University, the U.K.

常鑫會議主題報告人

China Corporate Finance Annual Meeting, Guangzhou, China, 2013 [2] 
Culture and Economics Forum, Beijing, China, 2015
CamTalk, Innovation and Its Drivers, Cambridge, the UK, 2016
10th CSSA-UK High-level Entrepreneurship conference, London, the UK, 2017
Corporate Finance 30 Forum, China, 2018; 2019
ChinaFinance Review International Conference, 2018
The 2nd Sun Yat-Sen University Finance International Conference Joint with GenevaFinance Research Institute, China, 2019
Guangdong Economics Association Annual Meeting and Lingnan Economics Forum, China, 2019
Corporate Finance Meeting 2022, Adelaide, Australia
World Rubber Summit (Panel Speaker), 2022, Singapore

常鑫學術會議組委

5th Singapore International Conference on Finance, 2011 [2] 
FinancialResearch Network (FIRN), 2014-2019
Asian Finance Association (AsianFA) Conference, 2013-2019
Financial Management Association (FMA) Conference, 2017-Present
European Finance Association (EFA) Conference, 2016-Present
Annual Conferences on Asia-Pacific FinancialMarkets (CAFM), 2016-2019
China Finance Scholar Forum, 2020
NEOMA Business School Conference on Sustainable Finance, 2022
Northern Finance Association Annual Conferences, 2021-Present
SFS Cavalcade Asia-Pacific 2022 (分會場主席)
Chinese Finance Annual Meeting (CFAM), 2022
Asian Meeting of the Econometric Society(AMES), 2022-Present
參考資料