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Faculty & Research

王 阳照

Wang Yangzhao

Associate Professor of Newhuadu Business School,
Master's Supervisor

Reflect on yesterday, cultivate today, and look forward to tomorrow. Cultivate professional leaders, realize the social responsibility of enterprisers, and fully enhance enterprise value and industrial innovation. Change futures, from change today; change the world, from change yourself.

Biographical details

Doctor Yangzhao Wang has two doctorates. Graduated from Institute of Finance and Institute of International Business in the National Taiwan University. In 2003, after obtained master's degree in Statistics at the Tsinghua University, he served at Institute of Information Science, Academia Sinica, which is the first academic research institution in Taiwan. During this time, he was sent to the University of Chicago for taking a short consultation visit in 2004. Since studied for doctor's degrees in 2007, he participated in educational work of EMBA and Global MBA for several times. During teaching at undergraduate, under his guide, many undergraduate students were enrolled by master or doctoral program in the world's top 100 universities by enhancing their research experience. The universities include the Columbia University (15th in the world), the Johns Hopkins University (11th in the world), the university of Melbourne (33th in the world), the University of Sydney (56th in the world), and the University of Southern California (Rank 68th in the world). (The rank according to the Times Higher Education World University Rankings in 2005). At present, he is an Associate Professor of Department of Accounting and Finance at Newhuadu Business School and Master's Supervisor.

Education and experience

Ph.D., Institute of Finance, National Taiwan University
Ph.D., Institute of International Business, National Taiwan University
M.S., Institute of Statistics, Tsinghua University

Main research areas

Global financial crisis, securitization, credit rating, conflict of interest, incentive problem, Chinese issues, policy and regulation, money market, capital market, foreign exchange market, financial market linkage, RMB internationalization, interest rate transmission mechanism, and corporate governance.

Teaching field

International Corporate Finance, Financial Markets and Investments, Operation and Management of Financial Institutions, Investment Banking, Securities Investment and Funds Management, Commercial Bank Management, Investment Principles, Financial Management, Financial Econometrics, and Experimental Finance.

Academic achievement

1. Supervisor of the Excellent Paper Award, 2015.
2. Best Securities and Futures Research Paper Award, 2014.
3. Paper Award of Taiwan Federation of Certified Public Accountant Associations, 2014.
4. TOPCO Best Paper Award, 2013.
5. Paper Award in the Humanities and Social Sciences, Ministry of Science and Technology, Taiwan, 2012–2013.
6. Award of Cathay Financial Group, 2012.
7. Paper Award of Chen-Yung Foundation, 2011–2012.
8. Professor Zhou Yujin Memorial Prize of National Taiwan University, 2009.
9. Award of Nan Shan Life Insurance Company, 2009.

Scholarly articles

1. Jui-Jung Tsai, Yang-Chao Wang*, and Kehuang Weng, 2015, The Asymmetry and Volatility of the Chinese Stock Market Caused by the “New National Ten”, Emerging Markets Finance and Trade, 51, S86–S98. (SSCI, EconLit)
2. Yang-Chao Wang, Jui-Jung Tsai*, and Xiongwei Li, 2017, What Drives China’s 2015 Stock Market Surges and Turmoil? Asia-Pacific Journal of Financial Studies, revised and resubmit. (SSCI, EconLit)
3. Jui-Jung Tsai, Yang-Chao Wang*, and Hsiou-Wei William Lin, 2016, Shifts in Rating Standards during the RMBS Market Boom and Bust, Review of Finance, under review. (SSCI)
4. Yang-Chao Wang, Jui-Jung Tsai*, and Qiaoqiao Li, 2017, Policy Impact on the Chinese Stock Market: From the 1994 Bailout Policies to the 2015 Shanghai-Hong Kong Stock Connect, International Journal of Financial Studies, 5(1), 4: 1–19. (ESCI, EconLit)
5. Yang-Chao Wang, Jui-Jung Tsai*, and Yi Lin, 2016, The Influence of Shanghai-Hong Kong Stock Connect on the Mainland China and Hong Kong Stock Markets, International Journal of Business and Finance Research, 10(3): 1–10. (EconLit)
6. Jui-Jung Tsai, Yang-Chao Wang*, and Guanzhong You, 2016, The Impact of Anti-Corruption Reform on the Chinese Stock Market, Empirical Economics Letters, 15(2): 113–121. (EconLit)
7. Yang-Chao Wang, Jui-Jung Tsai*, and Bingxin Zhou, 2017, Proceedings of the 2017 2nd International Conference on Humanities and Social Science (HSS2017), The Influence of Renminbi Internationalization on the Chinese Stock Market, Advances in Social Science, Education and Humanities Research, 83, 584–589. (CPCI)
8. Yang-Chao Wang, Hsiou-Wei W. Lin*, Tsun-Siou Lee, and Jui-Jung Tsai, 2017, Corporate Performance and the Dual Roles of Boards: Firm Characteristics, Governance Regulations, and CEO–Director Relationships, Journal of Accounting Review, accepted and forthcoming. (TSSCI)
9. Yang-Chao Wang, Jui-Jung Tsai*, and Tian-Wen Chen, 2017, Renminbi Internationalization: Progress and Comparison, Global Journal of Business Research, under review. (EconLit)
10. Yang-Chao Wang, Jui-Jung Tsai*, and Runguang Yan, 2016, The Impact of the Deregulation of the “New National Ten” on the Chinese Stock Market, Singapore Economic Review, under review. (SSCI, EconLit)
11. Jui-Jung Tsai, Anthony H. Tu, Yang-Chao Wang*, and Liuzhou Zhuo, 2016, Efficiency of a Young Market: China’s Gold Future Market, Journal of Business & Economics, under review. (EconLit)
12. Yang-Chao Wang, Jui-Jung Tsai*, and Jingsi Xu, 2017, The Chinese Quantitative Easing? Influence of Easy Monetary Policies on the Chinese Capital Market, Working Paper.
13. Yang-Chao Wang, Jui-Jung Tsai*, and Yazhen Wu, 2017, Policy Impact evolvement in the Chinese Bond Market during Four Bull Markets in Recent Decade, Working Paper.
14. Yang-Chao Wang, Jui-Jung Tsai*, and Shushu Li, 2017, The Influence of RMB Internationalization on Onshore and Offshore RMB Foreign Exchange Markets, Working Paper.
15. Yang-Chao Wang, Jui-Jung Tsai*, and Xingyu Chen, 2017, The Impact of RMB Internationalization and International Situations on the Chinese Exchange Market: Five Major Currencies in the SDR Currency Basket, Working Paper.
16. Yang-Chao Wang, Jui-Jung Tsai*, and Xingyu Chen, 2017, The Influence of China’s Exchange Rate Reform on the Evolvement of RMB Exchange Rate, Working Paper.
17. Yang-Chao Wang, Jui-Jung Tsai*, and Lanxin Lu, 2017, The Impact of Chinese Monetary Policy on the Co-movement between Money and Capital Markets, Working Paper.
18. Yang-Chao Wang, Jui-Jung Tsai*, and Pengcheng Ren, 2017, How Government Policies Impact Dynamic Linkages between China's Stock and Real Estate Markets, Working Paper.
19. Yang-Chao Wang, Jiarong Zhang, and Jui-Jung Tsai*, 2017, Measuring Financial Contagion between Major European Stock Markets via Copulas, Working Paper.
20. Yang-Chao Wang, Jui-Jung Tsai*, and Wei Liu, 2014, The Impact of Volatility Index on China’s Stock Market, Journal of Business & Economics, 6, 23–46. (EconLit)
21. Yang-Chao Wang*, Jui-Jung Tsai, and Hsiou-Wei William Lin, 2013, The Influence of Board Structure on Firm Performance, Journal of Global Business Management 9 (June), 7–14. (ABI)
22. Jui-Jung Tsai*, Yang-Chao Wang, and Hsiou-Wei William Lin, 2012, The Inconsistency of Non-Agency RMBS Credit Ratings, Journal of International Management Studies 7, 120–124. (ABI)
23. Yang-Chao Wang, Hsiou-Wei William Lin*, Tsun-Siou Lee, and Jui-Jung Tsai, 2012, Corporate Board as Advisor and Monitor, Conference on Cross-Strait Banking and Finance (CSBF), Beijing.
24. Jui-Jung Tsai, Yang-Chao Wang*, and Hsiou-Wei William Lin, 2012, Shifts in Rating Standards during the RMBS Market Boom and Bust, Conference on Cross-Strait Banking and Finance (CSBF), Beijing.
25. Expression Evolution in Yeast Genes of Single-Input Modules is Mainly due to Changes in Trans-Acting Factors. Genome Research 2007 17: 1161-1169. (SCI, Impact Factor 13.588)
* for corresponding author

Published works

1. Yang-Chao Wang, 2014, Financial Crisis: Contradictions between RMBS Performance and Investor Expectation, Department of Finance, National Taiwan University, Taipei, Taiwan.
2. Yang-Chao Wang, 2013, Effectiveness of Boards: Outside and Inside Directors, Department of International Business, National Taiwan University, Taipei, Taiwan.
3. Yang-Chao Wang, 2007, Estimation of Gene Regulatory Networks from Microarray, ChIP-chip and Functional Data using Support Vector Machine, B-splines and Bayesian Network, Technique report, Institute of Information Science, Academia Sinica, Taipei, Taiwan.
4. Yang-Chao Wang and Wun-Yi Shu, 2006, Optimal Design for Gene Expression Microarrays, Technique report, Institute of Statistics, National Tsing Hua University, Hsinchu, Taiwan.

Other

Research Projects and Talents Scheme:
1. Natural Science Foundation of Fujian Province, China. The Role of Conventional and Unconventional Monetary Policies in Chinese Capital Markets, 2017/04-2020/04.
2. Natural Science Foundation of Fujian Province, China. The Impact of RMB Internationalization on the Structure Changes in the Chinese Stock Market, 2016/08-2019/08.
3. Recruitment Program of Higher Education of Fujian Province for Full Time Teachers in Taiwan. 2015-2017 Special Foundation for Taiwanese Teachers, 2015/09-2018/09.
4. Special Foundation of Higher Education of Fujian Province, China. The Structural Changes of Volatility in the Chinese Stock Market Based on GARCH-type Models, 2015/09-2018/09.
5. Foundation for Key Program of Social Science of Educational Bureau of Fujian Province, China. The Development of Occupational Pension Based on Research about Endowment Insurance, 2015/06-2017/06.
6. Foundation of Social Science of Educational Bureau of Fujian Province, China. The Impact of RMB Internationalization on Offshore and Onshore RMB Foreign Exchange Markets, 2016/04-2018/04.
7. Foundation of Social Science of Educational Bureau of Fujian Province, China. The Influence of Shanghai- and Shenzhen-Hong Kong Stock Connect on the linkage between Mainland China and Hong Kong Stock Markets, 2015/06-2017/06.
8. National Natural Science Foundation of China. RMB Internationalization and the Reform into the International Reserve Currency System, Applying, 2018/01-2020/12.
9. Science and Technology Foundation of Minjiang University. Research on the Effect of Anti-corruption Reform on China’s Stock Market, 2014/12-2016/12.
 
Financial Review and Media Interview:
China Financial Weekly,Yangzhao Wang: “soldiers do strange road, so mergers”,No.6, 2016, sum. No. 163. (Published in March 21, 2016)
Fujian Daily, an exclusive interview, Published in March 14, 2014, six edition headlines:
http://fjrb.fjsen.com/fjrb/html/2014-03/14/content_719567.htm?div=-1
Full version reprinted:
http://mjunews.cuepa.cn/show_more.php?tkey=&bkey=&doc_id=996192
Southeast Broadcasting under Fujian Media Group, an exclusive interview, Text documents released at the official website on April 2, 2014:
http://www.sebc.com.cn/2014/0402/169802.html
 
Programming Skills:
Database language:SQL Server, ASP.NET, MySQL, PHP;Programing language:Visual C++, Visual C#, Borland C++ Builder, Perl;Programming for Statistical software:R, S-plus, Gauss, SAS, EViews, Stata;Programming of mathematical software:Matlab, Maple, Mathematica
 

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