Faculty/Staff

Kiyoung Chang

Professor
chang1@usf.edu
Campus: Sarasota-Manatee
Room: C221
Phone: 941-359-4359

Kiyoung Chang is a professor in the Kate Tiedemann School of Business and Finance in Sarasota-Manatee, where he teaches corporate finance, financial management, international finance and financial institution.

His research interests include institutional investors, corporate social responsibility, international corporate finance, corporate governance, cash management, mergers and acquisitions and security offerings. He has published in premier journals such as Journal of International Business Studies, Financial Management, Journal of Financial Research, Journal of Business Ethics, Pacific-Basin Finance Journal, International Review of Finance and many more. He has served as an executive board member of the Korea America Finance Association and is a member of Financial Management Association and Korea America Finance Association. Prior to joining USF, he taught at Indiana University, the University of Wisconsin-Milwaukee and Slippery Rock University.

He earned a PhD and a master's degree with concentrations in finance from the University of Wisconsin-Milwaukee and a bachelor's degree in public administration from Yonsei University in Seoul.

Research

  • Chang, K., Li, Y., & Yi, H. (2020) "Informed Equity Ownership and Bank Loan Contracting" Journal of Business Finance and Accounting, forthcoming.
  • Chang, Kiyoung, Hoje Jo, and Ying Li, 2016, 鈥淚s there Informational Value in Corporate Giving?鈥�, Journal of Business Ethics, forthcoming, DOI 10.1007/s10551-016-3230-7
  • Chang, Kiyoung, Eun Kang, and Ying Li, 2016, 鈥淓ffect of Institutional Ownership on Dividends: An Agency-theory-based Analysis鈥�, Journal of Business Research 69, 2551-2559,
  • Bae, Sung, Kiyoung Chang, and Ha-Chin Yi, 2016, The impact of corporate social responsibility activities on corporate financing: a case of bank loan covenants, Applied Economics Letters, forthcoming, DOI:10.1080/13504851.2016.1148247
  • Byoun, Soku, Kiyoung Chang, and Young Sang Kim, 2016, 鈥淒oes Corporate Board Diversity Affect Corporate Payout Policy?鈥�, Asia-Pacific Journal of Financial Studies 45, 48-101

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  • Borghesi, Richard, Kiyoung Chang, and Jamshid Mehran, 2016, 鈥淪imultaneous Board and CEO Diversity: Does it Increase Firm Value?鈥�, Applied Economics Letters 23, Vol 1, 23-26
  • Borghesi, Richard and Kiyoung Chang, 2014, "The Determinants of Effective Corporate Lobbying", Journal of Economics and Finance, forthcoming, DOI: 10.1007/s12197-014-9287-1
  • Chang, Kiyoung, Eun Kang , and Ying Li, 2014, 鈥淟ocal Long-term Institutions, Growth, and Cash Holdings鈥�, Applied Economics Letters 21, No. 6, 387-390
  • Jiraporn, Pornsit, Napatsorn Jiraporn, Ardisak Boeprasert, and Kiyoung Chang, 2013, 鈥淒oes Corporate Social Responsibility (CSR) Improve Credit Ratings? Evidence from Geographic Identification鈥�, Financial Management, forthcoming, DOI: 10.1111/fima.12044
  • Chang, Kiyoung, Incheol Kim, and Ying Li, 2013, 鈥淭he Heterogeneous Impact of Corporate Social Responsibility Activities That Target Different Stakeholders鈥�, Journal of Business Ethics, forthcoming, DOI10.1007/s10551-013-1895-8
  • Bae, Sung, Kiyoung Chang, and Doseong Kim, 2013, "Determinants of Target Selection and Acquirer Returns: Evidence from Cross-Border Acquisitions", International Review of Economics and Finance 27, 552-565
  • Chang, Kiyoung, Yong-Cheol Kim, and Hyeongsop Shim, 2013, 鈥淲eak firms follow strong firms in hot IPO markets鈥�, Asia-Pacific Journal of Financial Studies 42, 76-108
  • Bae, Sung, Kiyoung Chang, Hoje Jo, 2013, 鈥淟ong-Run Stock and Operating Performance of Underwriter Warrants: Evidence from Seasoned Equity Offerings鈥�, International Review of Finance 13, 473-501
  • Kabongo, Jean D., Kiyoung Chang, and Ying Li, 2013, 鈥淭he Impact of Operational Diversity on Corporate Philanthropy: An Empirical Study of U.S. Companies鈥�, Journal of Business Ethics 116, 49-65
  • Chang, Kiyoung, Dong-Kyoon Kim, and Haiyan Yin, 2013, " Does globalization increase bank efficiency as measured by net interest margin?", Journal of International Finance and Economics 13, 154-158
  • Sung C. Bae, Kiyoung Chang, and Eun Kang, 2012, 鈥淒ividend Policy, Corporate Governance, and Culture鈥�, Journal of Financial Research 35, 289-316
  • Chang, Kiyoung, Yong-Cheol Kim, Young Sang Kim, and John H. Thornton Jr., 2012, 鈥淯nintended Regulatory Consequences: Evidence from the Korean IPOs鈥�, Pacific-Basin Finance Journal 20, 292-309
  • Chang, Kiyoung, Jung-Bum Wee, and Ha-Chin Yi, 2012, 鈥淒oes National Culture Influence the Firm鈥檚 Choice of Debt Maturity?鈥�, Asia-Pacific Journal of Financial Studies 41, Issue 4, 424-457
  • Chang, Kiyoung, Ha-Chin Yi, and Yewmun Yip, 2012, 鈥淓ffects of Cultural Difference on Cross Country Mergers and Acquisitions鈥�, forthcoming, Global Business and Finance Review 17, Issue 2, 121-136
  • Chari, Murali D.R. and Kiyoung Chang, 2009, 鈥淒eterminants of the Share of the Equity Sought in Cross-Border Acquisitions鈥�, Journal of International Business Studies 40, 1277-1297
  • Chang, Kiyoung and Abbas Noorbakhsh, 2009, 鈥淒oes National Culture Affect International Corporate Cash Holdings?鈥� Journal of Multinational Financial Management 19, 323-342 (leading article in the issue)
  • Chang, Kiyoung, Yong-Cheol Kim and Yewmun Yip, 2009, 鈥淪ize Effect and Corporate Governance in Cross-Border M&As鈥�, Global Business and Finance review 14, Spring, 23-35