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Professor Info
Shen, Yang-Pin
Title
Associate Professor / Director of Personnel Office
Speciality
  • Corporate Finance
  • Corporate Governance
  • Mergers and Acquisitions
  • Business Valuation
  • Real Estate Finance
  • Financial Markets and Institutions
  • Investment
Academic BG.
  • Ph.D. in Finance, Louisiana State University, 1990–1994
  • MBA, State University of New York at Buffalo, 1988–1990
  • BS in Business Administration, Tatung University, 1982–1986
Experience
    Academic Experience:
  • Associate Professor in Finance, College of Management, Yuan Ze University, 2000/08-present
  • Director of Personnel Office, 2022/02-present
  • Secretary General, Yuan Ze University, 2011/08-2012/07
  • EMBA Program Director, College of Management, Yuan Ze University, 2010/08-2011/07
  • Chair, Graduate School of Management, Yuan Ze University, 2003/08–2006/07
  • Acting Chair, Department of Finance, Yuan Ze University, 2007/02–2007/07, 2010/02-2010/07
  • Associate Professor, Department of Finance, National Chung Cheng University, 1994/08-2000/07
  • Director of Alumni and Public Relationship, National Chung Cheng University, 1999/03–2000/05
    • Industry Experience:
  • Independent Board Director, Hsin Tao Power Corp., Ltd., 2024/07-present
  • Independent Board Director, TAI-TECH Advanced Electronics Corp., Ltd., Chair of Auditing Committee, 2021/07-present
  • Board Director, CDIB Bioscience Ventures Capital, 2015/05 – present
  • Independent Board Director, Chair of Auditing Committee, ICPDAS Corp., Ltd., 2007/11-present
  • Board Director, Hantec Ventures Capital, 2015/07 – 2022/05
  • Independent Board Director, Forward Electronics Corp., Ltd., Chair of Auditing Committee, 2006/06-2021/08
  • Independent Board Director, Dah Chung Bills Finance Corp., Ltd., Chair of Compensation Committee, 2007/05-2016/05
  • Independent Board Supervisor, PHISON Electronics Corp., Ltd., 2003/11- 2014/06
  • Independent Board Supervisor, Richtek Technology Corp., Ltd., 2002/11-2016/04
  • Independent Board Director, Chair of Auditing Committee, Chair of Compensation Committee, UHT Unitech Corp., Ltd., 2018/06 - 2019/05
  • Independent Board Director, Chair of Compensation Committee, Body Organ Biomedical Corp., Ltd., 2015/06 – 2019/11
  • Journal Papers
  • Conference Papers
  • Research Grants
  • Books/Pub.
  • Industrial Grants
  • Courses
  • Dissertation
  • Awards & Certificates
  • Pro. Membership
  • Other Contributions
  • Shen, Yang-pin, Wu, Chou-yen, and Chiuling Lu, 2023/08, "U.S. REIT Banking Relationships and Syndicated Loan Pricing", Review of Quantitative Finance and Accounting 61(2), 447-479.
  • Lu, Chiuling, Shen, Yang-pin, and Cheng-Lun Shih, 2018/06, "Does Population Aging Affect Real Housing Prices？Evidence from Eight Asian Economies", Journal of Housing Studies 27 (1), 1-21. (Leading Article) (TSSCI)
  • Lu, Chiuling, Ching-fa, Chang, and Yang-pin Shen, 2017/09, "Does Active Share Explain Taiwanese Mutual Fund Performance", Review of Securities and Futures Markets 29 (3), 1-38. (in Chinese) (Leading Article) (TSSCI) (Best Paper Award in 2017)
  • Lu, Chiuling, Mao, Tzujui, and Yang-pin Shen, 2015/01, “Beyond Friendly Mergers: the Case of REITs”, Review of Quantitative Finance and Accounting 44 (1), 139-159. ( FLI)
  • Shen, Yang-pin, Lu, Chiuling, and Zong-Han Lin, 2012/04, "International Real Estate Mutual Fund Performance: Diversification or Costly Information", Journal of Real Estate Finance and Economics 44 (3), 394-413. (SSCI)
  • Yu, Min-The, Shen, Yang-pin, and Hsiangping Tsai , 2011/03, “Research Performance of the Finance Departments in Taiwan: 2003-2008”, Journal of Financial Studies, 19 (1), 97-132. (TSSCI) (NSC-97-2420-H-001-003-MY3-B9815)
  • Shen, Yang-pin, Chiu, Li-Ching, and Chiuling Lu, 2008/06, “A Discrete Random Effects Logit Model of the Determinants of Asset-Backed Securitization”, Journal of Financial Studies 16 (2), 69-100. (TSSCI)
  • Shen, Yang-pin and Peihwang Wei, 2007/09, “Why Do Companies Choose to Go IPOs? New Results Using Data from Taiwan”, Journal of Economics and Finance 31 (3), 359-367. (FLI) (NSC-91-2416-H-155-011)
  • Tse, Yiuman, Bandyopadhyay, Paramita, and Yang-Pin Shen, 2006/11, “Intraday Price Discovery in the DJIA Index Markets”, Journal of Business Finance and Accounting 33 (9-10), 1572-1585. (SSCI)
  • Shen, Yang-Pin, Yu, Min-The, and Feng-Chia Chang, 2002/10, “Contributions to Finance Journals by Taiwanese Institutions”, Review of Securities and Futures Markets 14 (3), 1-44. (in Chinese) (Leading Article) (TSSCI) (NSC-90-2419-H-001-001-B9019)
  • Shen, Yang-Pin and Chih-Jen Huang, 2001/12, “Subsidiary Trading in Parent Stocks: Trading Behavior of Major Taiwan Corporations”, Journal Financial Studies 9 (3), 54-70. (in Chinese) (TSSCI) (NSC-89-2416-H-194-013)
  • Lu, Chiuling, Shen, Yang-pin, and Raymond W. So, 1999/fall, “Wealth Effects of the BASLE Accord on Small Banks”, Journal of Economics and Finance 23 (3), 246-254. (FLI)
  • Howe, John S. and Yang-pin Shen, 1998/autumn, “Information Associated with Dividend Initiations: Firm-Specific or Industry-Wide”, Financial Management 27 (3), 17-26. (SSCI)
  • Shen, Yang-pin and Tuyet-Bang Huynh, 2023/06, The Impact of CEO''s Pay Duration on the Earnings Management: Evidence from the Banking Industry, 2023 International Conference of Taiwan Finance Association,台中靜宜大學
  • Shen, Yang-pin and Yip Mei Theen, 2022/06, Can Short Selling Threat Mitigate the Agency Problems in Capital Expenditure Decisions? Evidence from Taiwan Stock Market, 2022 International Conference of Taiwan Finance Association,新竹陽明交通大學
  • 沈仰斌、唐宗生，2021/04，財務艱困事件對同集團公司之溢出效應，2021 Management Concept and Application Conference，高雄中山大學
  • Lu, Chiuling, Shen, Yang-pin, and Chou-yen Wu, 2018/07, Banking Relationships and REIT Syndicated Loan Pricing, 2018年世界華人不動產學會年會(GCREC 2018 Annual Conference),中國青島
  • Lu, Chiuling, Shen, Yang-pin, and Chou-yen Wu, 2016/07, The Market Value of REIT Cash Holdings, 2016年世界華人不動產學會年會(GCREC 2016 Annual Conference),中國杭州
  • Lu, Chiuling, Mao, Tzujui, and Yang-pin Shen, 2011/01, “Beyond Friendly Mergers-the case of REITs”, The 4th NCTU International Finance Conference in Hsingchu, Taiwan.
  • Shen, Yang-pin and Ting-Kai Chou, 2010/07, “The Functionality of the Board and the Firm Performance”, The 18th PBFEAM annual conference in Beijing, China.
  • Chen, Sheng-Syan, Shen, Yang-pin, and Chia-Yuan Jiang, 2010/07, “Reexamine the Agency Problem of Corporate Free Cash Flow in Proxy Contests”, 2010 FMA Asia annual meeting in Singapore.
  • Chen, Hsuan-Chi, Fauver, Larry, Hsu, Yu, and Yang-Pin Shen, 2009/10, “Do IPO Earnings and Revenue Surprises Surprise Investors?”, 2009 Financial Management Association annual meeting in Las Vegas.
  • Chen, Sheng-Syan, Ho, Kim Wai, Shen, Yang-pin, and Chia-Yuan Jiang, 2009/07, “Determinants of the First Cash Payout Decision of Listed Firms: The Role of Industry Factors”, 7th China International Conference in Finance in Guangzhou, China.
  • Chen, Sheng-Syan, Ho, Kim Wai, Shen, Yang-pin, and Chia-Yuan Jiang, 2009/05, “Determinants of the First Cash Payout Decision of Listed Firms: The Role of Industry Factors”, 2009 FMA Asia Meeting in Xiamen, China.
  • Chen, Sheng-Syan, Ho, Kim Wai, Shen, Yang-pin, and Chia-Yuan Jiang, 2009/03, “Determinants of the First Cash Payout Decision of Listed Firms: The Role of Industry Factors”, 58th Annual Meeting of Midwest Finance Association in Chicago.
  • Shen, Yang-pin, Jiang, Chia-Yuan, and Chia-Sz Huang, 2009/01, “Proxy Contest and Excess Cash Holding”, 2009 MDIS / ISFA in Singapore.
  • Chen, Hsuan-Chi, Fauver, Larry, Hsu, Yu, and Yang-Pin Shen, 2009/01, “Do IPO Earnings and Revenue Surprises Surprise Investors?”, Contemporary Accounting Review / Journal of Contemporary Accounting and Economics Special Joint Symposium on Asia-Related Issues in Hong Kong.
  • Chen, Hsuan-Chi, Fauver, Larry, Hsu, Yu, and Yang-Pin Shen, 2008/06, “Do IPO Earnings and Revenue Surprises Surprise Investors?”, First Asian Conference on Financial Engineering and Markets in Hong Kong.
  • Chen, Hsuan-Chi, Fauver, Larry, Hsu, Yu, and Yang-Pin Shen, 2008/04, “Do IPO Earnings and Revenue Surprises Surprise Investors?”, 2008現代財務論壇學術研討會。
  • Shen, Yang-pin, Chiu, Li-Ching, and Chiuling Lu, 2007/07, "The Incentives of Asset-Backed Securitization,” 12th Asian Real Estate Society annual meeting in Macaw.
  • Shen, Yang-pin, Chiu, Li-Ching, and Chiuling Lu, 2007/07, "Why do the Wealth Effects of Asset-Backed Securitization Differ", Seventh International Conference on Accounting and Finance in 廈門大學 , 12th Asian Real Estate Society annual meeting in Macaw, and 18th Asian Finance Association annual conference in Hong Kong.
  • Shen, Yang-pin, Lu, Chiuling, and Li-Ching Chiu, 2007/06, "A Discrete Random Effect Logit Model of the Incentives of Asset-Backed Securitization, 2007 年台灣財務金融學會年會。（獲選為最佳學術論文獎）
  • Shen, Yang-pin, Chiu, Li-Ching, and Chiuling Lu, 2007/05, “New Evidence on Factors that Influence the Wealth Effects of Asset-Backed Securitization”, 2007 NTU International Finance Conference in Taipei.
  • Tse, Yiuman, Bandyopadhyay, Paramita, and Yang-Pin Shen, 2006, “Intraday Price Discovery in the DJIA Index Markets”, 2006 Financial Management Association annual meeting in Salt Lake City.
  • Chen, Sheng-Syan, Ho, Kim Wai, Shen, Yang-Pin, and Chia-Yuan Jiang, 2005, “Industry Influence on IPO Firm Cash Dividend Initiation Decision”, 2005 年台灣財務金融學會年會。
  • Lu, Chiuling and Yang-pin Shen, 2003, “Do REITs Pay Enough Dividends”, 11th Annual Conference on Pacific Basin Finance, Economics and Accounting in Taipei and 2003 Financial Management Association annual meeting in Denver.
  • 沈仰斌、俞明德、蔡湘萍，2003，“台灣財金研究生產力的形成因素“，2003 現代財務論壇學術研討會。
  • Huang, Chih-Jen and Yang-pin Shen, 2003, “Insider Transaction and Subsidiary's Trading of Parent Stocks”, 52nd Annual Meeting of Midwest Finance Association in St. Louis.
  • 沈仰斌、夏侯欣榮，2002，台灣創投公司投資績效之實證研究，2002年台灣財務金融學會年會。
  • 沈仰斌、陳獻儀，2002，券商選擇認購權證標的公司之決定因素，2002年台灣財務金融學會年會。
  • 沈仰斌、俞明德、張峰嘉，2001，“台灣財金學術單位期刊著作表現之研究”，第十屆證券暨金融市場理論與實務研討會。
  • 沈仰斌、黃志仁，2001，“子公司持有母公司股票、交叉持股、與大股東質押”，國科會管理一學門財務、會計領域專題研究計劃成果發表會。
  • Huang, Chih-Jen and Yang-pin Shen, 2001, "Insider Transaction and Subsidiary's Trading of Parent Stocks", 2001年台灣財務金融學會年會。
  • Huang, Chih-Jen and Yang-pin Shen, 2000, "Subsidiary's Trading of Parent Stocks: Announcement Effects and Their Determinants", 13 th Annual Australasian Finance and Banking Conference in Sydney, and 第九屆證券暨金融市場理論與實務研討會。
  • 沈仰斌、黃志仁，2000，“子公司操作母公司股票：資料特性與操作動機”，2000年中國財務學會年會。
  • 沈仰斌、張文武、林秋發，2000，“資本結構的動態調整：台灣上市公司製造業之實證”，第一屆實證經濟學研討會。
  • Lu, Chiuling, Shen, Yang-pin, and Raymond W. So, 1999, "Wealth Effects of the BASLE Accord on Small Banks", 12 th Annual Australasian Finance and Banking Conference in Sydney.
  • 沈仰斌、宗立炘，1999，“台灣地區銀行兼營證券票券業務風險效果之實證研究”，第八屆證券暨金融市場理論與實務研討會。
  • 沈仰斌、謝一震，1999，“企業評價方法之研究：以台灣初次上市之公司為對象”，1999 年中國財務學會年會。
  • Howe, John S. and Yang-pin Shen, 1998, "Analyst Earnings Forecasts for Dividend Initiating Firms", 1998 Financial Management Association annual meeting in Chicago, and 第七屆證券暨金融市場理論與實務研討會。
  • Howe, John S. and Yang-pin Shen, 1997, "The Intra-Industry Effects of Dividend Initiations", 1997 Financial Management Association annual meeting in Hawaii.
  • Lu, Chiuling, Shen, Yang-pin, and Raymond W. So, 1996, "Stock Market Reactions of Adoption of Risk-Based Capital Requirements on Banks ： Further Evidence from Small versus Large Banks", 1996 Southwestern Finance Association annual meeting in San Antonio, and 第四屆證券暨金融市場理論與實務研討會。
  • Shen, Yang-pin, 2010, Richtek: Rent or buy, NSC sponsored business case.
  • Shen, Yang-pin, 2008, PHISON: Private placement of equity, NSC sponsored business case.
  • Shen, Yang-pin, 2007, UMC: Earnings restatement, NSC sponsored business case.
  • Shen, Yang-Pin, 2006, “Corporate Financial Strategies”, Manager Today, “A Special Column”, Vol. 21, 126-134.
  • Chen, Yu-Jen, Cheng, Ming-Chang, and Yang-pin Shen, 1999/April, “Development of Security Houses in Taiwan into Investment Banks”, (in Chinese), Journal of Banking & Finance (Taiwan) 2, 9-31.
  • Chang, Yue-Shan and Yang-pin Shen, 1999/01, “Management of the Public Ownership in the Newly Privatized Companies”, Chapter 6 of the ”Privatization Experience in Taiwan”, 271-320, published by China Credit Information Service.
  • Chen, Jin-Tang and Yang-pin Shen, 1998/August, “Theories and Empirical Evidence of the M&A Motives: An Analysis of USA and Asia M&A History, (in Chinese), Quarterly Review of Economic Affairs (Taiwan), 4 (2), 30-59.
  • Advanced Corporate Finance (PhD)
  • Capital Allocation and Capital Raising (EMBA)
  • Corporate Governance (EMBA)
  • Financial Management (EMBA, B)
  • Corporate Finance (MS, B)
  • Mergers, Acquisitions, and Business Valuation (EMBA, MS)
  • Managerial Finance (MBA)
  • Seminar in Security Market 1 (MS)
  • Seminar in Security Market 2 (MS)
  • Seminar in Finance 1 (MS)
  • Seminar in Finance 3 (MS)
  • Overseas Study (EMBA, MS)
  • Best Paper Award, Review of Securities and Futures Markets, 2017
  • Best Paper Award,Taiwan Finance Association Annual Meeting, 2007
  • Outstanding Alumni Award, Tatung University, 2003
  • Certificate of the Case Writing Workshop, Ivey School of Business, University of Western Ontario, sponsored by NSC, 2007/04
  • Certificate of the Case Teaching Workshop, Ivey School of Business, University of Western Ontario, sponsored by NSC, 2007/08
  • Taiwan Finance Association
  • Board Director, Hantec Ventures Capital, 2015/07 – present
  • Board Director, CDIB Bioscience Ventures Capital, 2015/05 – present
  • Independent Board Director, Chair of Compensation Committee, ICPDAS Corp., Ltd., 2007/11-present
  • Independent Board Director, Forward Electronics Corp., Ltd., Chair of Auditing Committee, 2006/06-present
  • Independent Board Director, Dah Chung Bills Finance Corp., Ltd., Chair of Compensation Committee, 2007/05-2016/05
  • Independent Board Supervisor, PHISON Electronics Corp., Ltd., 2003/11- 2014/06
  • Independent Board Supervisor, Richtek Technology Corp., Ltd., 2002/11-2016/04
  • Independent Board Director, Chair of Auditing Committee, Chair of Compensation Committee, UHT Unitech Corp., Ltd., 2018/06 - 2019/05
  • Independent Board Director, Chair of Compensation Committee, Body Organ Biomedical Corp., Ltd., 2015/06 – 2019/11
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Shen, Yang-Pin

Finance

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College of Management, Yuan Ze University.
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