Professor Info

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Name: 李詩政 Lee, Shih-Cheng
Discipline: DigitalFinance
TEL: 03-4638800 ext. 2191
Email: sclee@saturn.yzu.edu.tw

Title

Professor, Director of the Institute of Digital Finance, Node Leader Centre for Responsible Science

Speciality

Financial Risk Management、 Bank Regulation、 Accounting Based Valuation 、 Regulatory Technology (RegTech)

Academic BG.

  • Ph.D. in Finance, National Central University, Taiwan.

Experience

  • Assistant Professor, Department of Accounting, Yuan Ze University, February, 2003 – July, 2007
  • Associate Professor, Department of Finance, Yuan Ze University, August, 2007 – January, 2008
  • Associate Professor, Department of Finance, Yuan Ze University, February, 2008 – July, 2010
  • Visiting Scholar, Business School, University of Adelaide (Australia), February,2011 - January, 2012
  • Chair of Finance, College of Management, Yuan Ze University, August, 2010 – July, 2013
  • Director of “Chinese Marketing Management Association”, 2010~2016
  • Consultant, EvriBody™ Innovations Pty. Ltd., Australia (A.C.N. 128 602 415), 2011~2012
  • Consultant, Greater China Professional Risk Managers Service Center 2011~2016
  • Visiting Research Fellow, Business School, University of Adelaide (Australia), February, 2012~ 2024
  • Associate Editor, Journal of Accounting, Finance & Management Strategy (EconLit, ABI), 2013~now
  • Professor, College of Management, Yuan Ze University, August, 2013~ now
  • Expert of Center for Banking and Financial Stability, (Australia). 2014~2016
  • Expert of Systemic Risk Hub, (France). 2015~2024
  • Expert of Centre of Economic and Banking Regulation, (Australia). 2016~2023
  • Expert of DBS-SWUFE Centre for Banking & Financial Stability, (Australia, China), 2017~2023
  • Director of Institute of Digital Finance (IDF), 2018~now

Journal Papers

  1. Ho, K.C., L.H. Pan, S.C. Lee, 2024, “Information Disclosure, Product Market Competition and Payout Policy”, Pacific-Basin Finance Journal, 86, 102436. 【SSCI, IF: 4.8, MOST Ranking: A Tier-2】
  2. Ho, K.C., H.P. Yen, C.Y. Lu, ;S.C. Lee, 2023, “Does information disclosure and transparency ranking system prevent the default risk of a firm?”, Economic Analysis and Policy, 78, 1059~1105.【SSCI, IF: 6.5, 31/381, Economics】
  3. Ho, K.C., S.C. Lee, and J.L. Chen, 2022, “Book-to-market equity and asset correlations—An international study”, International Review of Economics and Finance, 79, 258~274.【SSCI, IF: 2.522】
  4. Ho, K.C., S.C. Lee, and P.W. Sun, 2022, “Disclosure quality, price efficiency, and expected returns”, North American Journal of Economics and Finance, Accepted.【SSCI, IF: 2.772】
  5. Lee, S.C. and T.Y. Lee, 2018, “Challenges for the future of global financial markets”, Deposit Insurance Information Quarterly, 31, 93~108.
  6. Yeh, S.W. and S.C. Lee, 2018, “The Brave New World of Financial Technology Development and Supervision : A prospective Investigation of Financial Technology Development and Innovative Experimentation Act”, Journal of Business Law and Finance, 1, 119~139.
  7. Ho, K.C., S.C. Lee, C.T. Lin, and M.T. Yu, 2017, “A Comparative Analysis of Accounting-based Valuation Models”, Journal of Accounting, Auditing and Finance, 32, 561~575.【MOST Ranking: A Tier-1】
  8. Lee, S.C., C.T. Lin, and M.S. Tsai, 2015, “The Pricing of Deposit Insurance in the Presence of Systematic Risk”, Journal of Banking and Finance, 51, 1~11. 【Leading Article】【SSCI, MOST Ranking: A Tier-1】
  9. Pan, Lee-Hsien, Chien-Ting Lin, Lee, S.C., and Kung-Cheng Ho, 2015, “Information Ratings and Capital Structure”, Journal of Corporate Finance, 31, 71~32.【SSCI, MOST Ranking: A Tier-1】.
  10. Fu, Y., Lee, S.C., Xu, L. and Ralf, Z., forthcoming, “The Effectiveness of Capital Regulation on Bank Behavior in China”, International Review of Finance. 【 SSCI, ABDC Ranking: A】
  11. Xu, L., Lee, S.C., and Fu, Y., forthcoming, “Impacts of Capital Regulation and Market Discipline on Capital Ratio Selection: Evidence from China”, International Journal of Managerial Finance. 【ABDC Ranking: B】
  12. Huang, P.H., Lee, S.C., C.T. Lin, 2014, Implementing countercyclical capital buffer scheme for Australian banks. Jassa-The Finsia Journal of Applied Finance, Vol. 3, September., 33-44【EconLit】
  13. Huang, P.H., Lee, S.C., Liao, S.L., 2014, Illiquidity, systemic risk, and macroprudential regulation: The case of Taiwan's capital market. Journal of Applied Finance & Banking, vol. 4, no. 3, 71-88 【ABI & EconLit】
  14. Lee, S.C., C.T. Lin, J.L., Chen and B.H. Chiu, 2014,Basel risk weights, asset correlations and book-to-market equity: Evidence from Asian Countries. Jassa-The Finsia Journal of Applied Finance, Vol. 3, September., 6-11. 【EconLit】
  15. Lee, S.C., C.T. Lin, and M.T. Yu, 2013, “Book-to-market equity, asset correlations, and the Basel capital requirement”, Journal of Business, Finance, and Accounting, 40, 991-1008.【SSCI, MOST Ranking: A, Tier-1】
  16. Lee, S.C., C.T. Lin, and M.T. Yu, 2013, “A fractional cointegration approach to testing the Ohlson accounting-based valuation model”, Review of Quantitative Finance and Accounting, 41, 535-547. 【FLI, MOST Ranking: A, Tier-2】
  17. Chen, J.L., S.C. Lee, and M.S. Tsai, forthcoming, "An Empirical Investigation of the Ohlson Model–A Panel Cointegration Approach", Australasian Accounting Business and Finance. 【ABDC Ranking: B】
  18. Lee, Shih-Cheng*., 2013, “Cost of Deposit Insurance Under Capital Forbearance: Basel I vs. II”, Journal of Applied Finance and Banking, 3, 39-48. 【EconLit】
  19. Chen, J.L., S.C. Lee, and M.S. Tsai, forthcoming, "Rethinking the Lintnerian Linear Valuation Model", Australasian Accounting Business and Finance.【ABDC Ranking: B】
  20. Lee, S.C. and C.T. Lin, 2012, “Book-to-market equity, operating risk, and asset correlations: Implications for Basel capital requirement”, Journal of International Financial Markets, Institutions, and Money, 22, 973-989 【SSCI, MOST Ranking: A-】
  21. Lee, Shih-Cheng*., Jiun-Lin Chen, I-Ming Jiang and Cheng-Yi Hsu+, 2012," Accounting Conservatism and Bankruptcy" Journal of Accounting, Finance and Management Strategy, 7, 41~54. 【ABI】
  22. Tsai, M.S., S.C. Lee, J.L. Chen and S.L. Wu, forthcoming," A New Method to Evaluate Equity-Linked Life Insurance”, Contemporary Management Research. 【ABDC Ranking: B】
  23. Lee, S.C., C.H. Lai, 2012, “An Empirical Investigation of the Accounting Valuation Models”, Journal of Accounting, Finance & Management Strategy, 7, 41-65. 【ABI】
  24. Lee, S.C., I.M. Jiang, B.H. Chiou and H.C. Cheng, 2012, “Asset Correlation and Evidence from UK Firms”, International Research Journal of Applied Finance, 3, 50-64. 【EconLit】
  25. Pan, C.H., I.M. Jiang, S.C. Lee and Y.C. Huang, 2011, “Asset Correlation: The Empirical Analysis of Commercial Real Estate in Taiwan Market”, Journal of Accounting, Finance & Management Strategy, 6, 1-22. 【Leading Article】,【ABI】
  26. Liu Y.H., I.M. Jiang, Y.T. Cheng, S.C. Lee, 2011, “The Valuation of Reset Options When Underlying Assets Are Autocorrelated”, International Journal of Business and Finance Research, 5, 95~104. 【EconLit】
  27. Lee, S.C., C.T. Lin and C-K Yang,, 2011, “The asymmetric behavior and procyclical impact of asset correlations”, Journal of Banking and Finance, 35, 2559-2568.【SSCI, MOST Ranking: A, Tier-1】
  28. Lee, S.C., C.T. Lin and P.T. Chang, 2011, “On the Market Valuation of Corporate Governance: Evidence from Taiwan” Pacific Basin Finance Journal, 19, 420-434. 【SSCI, MOST Ranking: A, Tier-2】
  29. Lee, S.C., C.T. Lin, 2010, “An Accounting Based Valuation Approach to Valuing Corporate Governance in Taiwan”, Journal of Contemporary Accounting and Economics 6, 47-60. 【Leading Article】,【SSCI, MOST Ranking: A-】
  30. Lee, S.C., I-Ming Jiang, Y.H. Liu, 2010, "Testing the Ohlson Model-Fractional Cointegration Approach", International Research Journal of Finance and Economics, 55, 36~44. 【EconLit】
  31. Lee, S.C., H.L. Chuang, M.T. Yu, and Y.C. Chen, 2009, Estimating the Cost of Deposit Insurance with Stochastic Interest Rates: The Case of Taiwan, Quantitative Finance, 9, 1-8. 【Leading Article】, 【SSCI, FLI, MOST Ranking: A-】
  32. Lee, S.C., 2007, Empirical Investigation of the Ohlson Model- The Case of Taiwan, Journal of Management, 24, 435-446. 2007.【TSSCI】
  33. Chuang H.L., S.C. Lee, M.C. Wu, 2006, “Estimating Fair Capital Holdings with Stochastic Interest Rates for Banks in Taiwan,” Journal of the Chinese Statistical Association, 44, 145–170. 【EconLit】
  34. Lee, S.C., J.P. Lee and M.T. Yu, 2005, “Bank Capital Forbearance and Valuation of Deposit Insurance,” Canadian Journal of Administrative Science, 22, 220–229.【SSCI】
  35. Lai T.C., S.C. Lee, 2004, “Market Risk Capital Allocation for Financial Holding Companies in Taiwan- A Conditional Value-at-Risk Approach”, Review of Securities and Futures Markets, 16, 145-174. 【TSSCI】
  36. Lee J.P., S.C. Lee and M.T. Yu, 2003, “Valuation of Pension Insurance Guarantees and Termination Conditions," Research in Finance, 20, 159~180. 【FLI, EconLit】

Conference Papers

  1. Shih-Cheng Lee and Min-Teh Yu, 2002,”Deposit Insurance under Forbearance and Moral Hazard “, APFA/PACAP/FMA Finance Conference .
  2. Shih-Cheng Lee and Min-Teh Yu, 2003,” Deposit Insurance and Capital Requirements: Basle Accord vs. Capital-at-Risk “, 52nd annual meeting of the Midwest Finance Association .
  3. Shih-Cheng Lee and Min-Teh Yu,2003, ”Value-at-Risk and Pricing Deposit Insurance in a Multiperiod Framework“, Financial Management Association Annual Meeting.
  4. Shih-Cheng Lee and Min-Teh Yu, 2004,” Deposit Insurance and Capital Requirements: Basle I vs. Value-at-Risk “, 53nd annual meeting of the Midwest Finance Association.
  5. Hwei-Lin Chuang, Shih-Cheng Lee, Mei-Chi Wu, 2006, “Estimating Fair Capital Holdings with Stochastic Interest Rates for Banks in Taiwan,” The Joint 14th Annual PBFEA and 2006 Annual FeAT Conference, 2006.
  6. Shih-Cheng Lee and Min-Teh Yu, 2008,” Panel Cointegration Test of Ohlson Model“, 57nd annual meeting of the Midwest Finance Association.
  7. Shih-Cheng Lee and Chia-Yu Chiang, 2008,”An Empirical Investigation of the RIV and OJ Valuation Models“, 17th Conference on the Theories and Practices of Security and Financial Markets.
  8. Shih-Cheng Lee and Ly-inn Chung, 2009,”The Application of Markov Chain Monte Carlo Simulations to Estimate Asset Return Correlation in Basel II“, 58nd annual meeting of the Midwest Finance Association.
  9. Shih-Cheng Lee and I-L Lin, 2009,”Measuring Insolvency Risk and Capital Adequacy for Insurers“, The 10th International Conference on Cross Strait Economy and Trade Management.
  10. Shih-Cheng Lee, Chuan Liao, Lei Xu, and Chien-Ting Lin,, 2009,”Firm Characteristics And Information Risk“, 2009 AFAANZ Conference Technical Program.
  11. Shih-Cheng Lee and Chien-Ting Lin,, 2010,”An Accounting Based Valuation Approach to Valuing Corporate Governance in Taiwan“, Joint Symposium Journal of Contemporary Accounting and Economics; and Seoul National University.
  12. Shih-Cheng Lee and Chien-Ting Lin, 2010,”On the market valuation of Corporate Governance: Evidence from Taiwan“, Asian Finance Association International Conference 2010.
  13. Shih-Cheng Lee, Chien-Ting Lin and Chia-Yu Ching, 2010, "An Empirical Examination of Accounting Based Valuation Models", 2010 Annual Meeting of the American Accounting Association.
  14. Ming-Shann Tsai,; Chien-Ting Lin; Shih-Cheng Lee; Chia-Chun Tsai, 2011, "A Cash-Flow-at-Risk Approach to Evaluating Investment Risk: Evidence from Asia-Pacific Emerging Markets", 2011(Spring) International Conference on Asia Pacific Business Innovation and Technology Management.
  15. Ming Jiang; Shih-Cheng Lee; Po-Yuan Chen; Yu-Hong Liu, 2011, "A Simple Formula for European Option under Time-Changed Lévy Processes with Imprecise Market Information", 9th Annual International Conference on Finance.
  16. Shih-Cheng Lee; Chien-Ting Lin; Chia-Yu Chiang; I-Ming Jiang, 2011, "An Empirical Examination of Accounting Based Valuation Models", 2010 American Accounting Association Annual Meeting.
  17. Lee, S.C., C.T. Lin,, 2010,”An Accounting Based Valuation Approach to Valuing Corporate Governance in Taiwan“, Joint Symposium Journal of Contemporary Accounting and Economics; and Seoul National University.
  18. Lee, S.C., C.T. Lin, C.Y. Chiang; I.M. Jiang, 2011, "An Empirical Examination of Accounting Based Valuation Models", 2010 American Accounting Association Annual Meeting.
  19. Jiang, I.M., S.C. Lee, P.Y. Chen; Y.H. Liu, 2011, "A Simple Formula for European Option under Time-Changed Lévy Processes with Imprecise Market Information", 9th Annual International Conference on Finance.
  20. Tsai, M.S., C.T. Lin, S.C. Lee, C.C. Tsai, 2011, "A Cash-Flow-at-Risk Approach to Evaluating Investment Risk: Evidence from Asia-Pacific Emerging Markets", 2011(Spring) International Conference on Asia Pacific Business Innovation and Technology Management.
  21. Fu, Y., S.C. Lee, L. Xu, & R. Zurbruegg, 2011, Market Force or Government Regulation: Which Drives Banking Capital Movements in China?, World Business and Economics Research (WBER) Conference
  22. Fu, Y., S.C. Lee, L. Xu, & R. Zurbruegg, 2012," An Examination of Inflated Bank Capital and Credit Risks in China", the World Business and Economics Research (WBER) Conference.
  23. Fu Y.S., S.C. Lee, L. Xu and R. Zurbrugg,, 2012, "Effectiveness of CBRC Capital Regulation and Bank Behaviour", 19th International Business Research Conference.
  24. Lee, S.C., 2012, "The Empirical Relationship between Asset Correlations and Book-to-Market Equity: Implications for Basel Capital Requirement", 2012 Taiwan Risk and Insurance Association Annual Meeting.
  25. Chien-Ting Lin,;Shih-Cheng Lee;Ming-Shann Tsai, 2013, "The Pricing of Deposit Insurance in the Presence of Systematic Risk", 3rd International Conference of the Financial Engineering and Banking Society.
  26. Yishu Fu;Shih-Cheng Lee;Lei Xu, 2013, "Impacts of Capital Regulation and Market Discipline in China", The 21st Annual Conference on Pacific Basin Finance, Economics, Accounting, and Management.
  27. Shih-Cheng Lee;Chien-Ting Lin, 2013, "Comparative Analysis of Accounting Based Valuation Models ", The 21st Annual Conference on Pacific Basin Finance, Economics, Accounting, and Management.
  28. Shih-Cheng Lee, Kung-Cheng Ho,Po-Hsiang Huang., 2014, “Book-to-Market Equity and Asset Correlations”., International Journal of Arts & Sciences” (IJAS) International Conference, Vienna.
  29. Chen, J., Lee, S., Lin, C. & Sun, P. “Do short-term institutional investors hold riskier stock portfolios?” 2014 Financial Management Association Annual Meeting.
  30. Lee, S.C., Chien-Ting Lin, Kung-Cheng Ho, 2014, “Another look at audit quality and firm performance”, China Foreign Economic and Trade Academic Accounting Association 2014 Annual Meeting, Guangdong Foreign Economic and Trade University, Guangdong, China.
  31. Lee, S.C., Lee-Hsien Pan, Chien-Ting Lin, Kung-Cheng Ho, 2014, “Information Ratings and Capital Structure”, 2014 Financial Management Association-Asian Annual Meeting, Hitotsubashi University, Tokyo, Japan.
  32. Kung-Cheng Ho, Shih-Cheng Lee, 2014, “The Empirical Relationship between Asset Correlations and Book-to-Market Equity in New Basel Accord”, Tenth International Conference on Multinational Enterprises, Chinese Culture University, Taipei, Taiwan.
  33. Kung-Cheng Ho, Lee, S.C., Lee-Hsien Pan, Chien-Ting Lin, 2014, “Information disclosure, product market competition, and firm value: Evidence from Taiwan”, the 89th Annual Conference in Western Economic Association International, Princeton University, Denver, Colorado, U.S.A.
  34. Lee-Hsien Pan, Lee, S.C., Chien-Ting Lin, Kung-Cheng Ho, 2014, “Is Information Rating an Important Determinant of Capital Structure Decisions?“, 2014 American Accounting Association, the University of Utah, ATLANTA, GA, U.S.A.
  35. Lee, S.C., Lee-Hsien Pan, Chien-Ting Lin, Kung-Cheng Ho, 2014, “Information Ratings and Capital Structure”, 2014 Europe Financial Management Association, Zayed University, Rome, Italy.

Research Grants

Books/Pub.

  1. 細說Black-Scholes微分方程式（吳文峰、李詩政譯，石村貞夫、石村園子著），鼎茂出版社，2004。
  2. 基礎金融工程─隨機微積分（吳文峰、李詩政譯，藤田岳彥著），鼎茂出版社，2004。
  3. 細說Black-Scholes模型（吳文峰、李詩政譯，蓑谷千鳳彥著），鼎茂出版社，2005。

Industrial Grants

Courses

  1. Statistic
  2. Financial Management
  3. Financial Risk Management --- Working with GMDH Forecasting and Planning Software (https://gmdhsoftware.com)

Dissertation

Awards & Certificates

Pro. Membership

Other Contributions