Professor Info

Photo
Name: 沈仰斌 Shen, Yang-Pin
Discipline: Finance
TEL: 03-4638800 ext. 2669
Email: finyps@saturn.yzu.edu.tw
https://www.cm.yzu.edu.tw/CH/Page/Teacher.aspx?ID=finyps

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, 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

  1. 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.
  2. 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)
  3. 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)
  4. 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)
  5. 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)
  6. 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)
  7. 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)
  8. 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)
  9. 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)
  10. 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)
  11. 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)
  12. 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)
  13. 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)

Conference Papers

  1. 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
  2. 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
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. Shen, Yang-pin, Jiang, Chia-Yuan, and Chia-Sz Huang, 2009/01, “Proxy Contest and Excess Cash Holding”, 2009 MDIS / ISFA in Singapore.
  11. 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.
  12. 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.
  13. 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。
  14. 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.
  15. 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.
  16. 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）
  17. 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.
  18. 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.
  19. 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。
  20. 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.
  21. 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。
  22. 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.
  23. 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。
  24. 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。
  25. 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。
  26. 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。
  27. 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。
  28. 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。
  29. 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。
  30. 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。
  31. 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.
  32. 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。
  33. 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。
  34. 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。
  35. Howe, John S. and Yang-pin Shen, 1997, "The Intra-Industry Effects of Dividend Initiations", 1997 Financial Management Association annual meeting in Hawaii.
  36. 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。

Research Grants

Books/Pub.

  1. Shen, Yang-pin, 2010, Richtek: Rent or buy, NSC sponsored business case.
  2. Shen, Yang-pin, 2008, PHISON: Private placement of equity, NSC sponsored business case.
  3. Shen, Yang-pin, 2007, UMC: Earnings restatement, NSC sponsored business case.
  4. Shen, Yang-Pin, 2006, “Corporate Financial Strategies”, Manager Today, “A Special Column”, Vol. 21, 126-134.
  5. 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.
  6. 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.
  7. 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.

Industrial Grants

Courses

  1. Advanced Corporate Finance (PhD)
  2. Capital Allocation and Capital Raising (EMBA)
  3. Corporate Governance (EMBA)
  4. Financial Management (EMBA, B)
  5. Corporate Finance (MS, B)
  6. Mergers, Acquisitions, and Business Valuation (EMBA, MS)
  7. Managerial Finance (MBA)
  8. Seminar in Security Market 1 (MS)
  9. Seminar in Security Market 2 (MS)
  10. Seminar in Finance 1 (MS)
  11. Seminar in Finance 3 (MS)
  12. Overseas Study (EMBA, MS)

Dissertation

Awards & Certificates

  1. Best Paper Award, Review of Securities and Futures Markets, 2017
  2. Best Paper Award,Taiwan Finance Association Annual Meeting, 2007
  3. Outstanding Alumni Award, Tatung University, 2003
  4. Certificate of the Case Writing Workshop, Ivey School of Business, University of Western Ontario, sponsored by NSC, 2007/04
  5. Certificate of the Case Teaching Workshop, Ivey School of Business, University of Western Ontario, sponsored by NSC, 2007/08

Pro. Membership

  1. Taiwan Finance Association

Other Contributions

  1. Board Director, Hantec Ventures Capital, 2015/07 – present
  2. Board Director, CDIB Bioscience Ventures Capital, 2015/05 – present
  3. Independent Board Director, Chair of Compensation Committee, ICPDAS Corp., Ltd., 2007/11-present
  4. Independent Board Director, Forward Electronics Corp., Ltd., Chair of Auditing Committee, 2006/06-present
  5. Independent Board Director, Dah Chung Bills Finance Corp., Ltd., Chair of Compensation Committee, 2007/05-2016/05
  6. Independent Board Supervisor, PHISON Electronics Corp., Ltd., 2003/11- 2014/06
  7. Independent Board Supervisor, Richtek Technology Corp., Ltd., 2002/11-2016/04
  8. Independent Board Director, Chair of Auditing Committee, Chair of Compensation Committee, UHT Unitech Corp., Ltd., 2018/06 - 2019/05
  9. Independent Board Director, Chair of Compensation Committee, Body Organ Biomedical Corp., Ltd., 2015/06 – 2019/11