張志宏　教授

1

職稱

教授

姓名

張志宏  

研究室

大恩 934

電話

(02)2861-0511 #

E-mail

 zzh9@ulive.pccu.edu.tw

研究領域

投資學、財務管理、永續金融

專業證照

合格證券投資分析人員（證券分析師），(93)證投析測字第043430023號。

合格期貨交易分析人員（期貨分析師），換(103)期交析測證字第3434100002號。

永續碳追蹤應用師

溫室氣體盤查規劃師

永續發展影響力規劃師

社會責任規劃師

區塊鏈應用師

商用數據應用師

商用大數據分析師
課程

國際財務管理研討(博士班)、財務管理、投資學、綠色金融與永續投資、金融科技與財務大數據分析、期貨與選擇權、國際財務管理

 

教師歷程

學歷

中央大學化學工程學士

成功大學企管碩士

淡江大學財務金融博士

經歷
  1. 中國文化大學國際企業管理學系專任教授（現職）
  2. 玄奘大學副教授、助理教授
  3. 台灣期貨交易所專員
  4. 台灣糖業公司管理師
  5. 國立聯合大學、東吳大學、淡江大學兼任助理教授

研究發表

 期刊論文

(一)英文期刊論文

  1. Chang, Matthew C., 2020, Market Sentiment, Marketable Transactions, and Returns, European Journal of Finance, 26, 1900-1925. (SSCI；科技部一般財務類A-級期刊, 科技部108年度專題研究計畫：108-2410-H-034-015-, DOI: 10.1080/1351847X.2020.1792961)

  2. Chang*, Matthew C., Chih-Ling Tsai, Chung-Fern Wu, and Ning Zhu 2018, Market Uncertainty and Market Orders in Futures Markets, Journal of Futures Markets, 38, 865-880. (SSCI; FLI；國科會一般財務類A Tier-2級期刊, 國科會100年度專題研究計畫：NSC 100-2410-H-364-010-; 國科會102年度國內專家學者出席國際學術會議：102-2914-I-364-002-A1, DOI: 10.1002/fut.21918)

  3. Wong, Woon K., Matthew C. Chang and Anthony H. Tu, 2009, Are Magnet Effects Caused by Uninformed Traders? Evidence from Taiwan Stock Exchange, Pacific-Basin Finance Journal, 17, 28-40. (SSCI; FLI；國科會一般財務類A Tier-2級期刊, DOI:10.1016/j.pacfin.2008.03.001)

  4. Chang*, Matthew C. and Chung-Fern Wu, 2012, Who Offers Liquidity on Options Markets when Volatility is High? Review of Pacific Basin Financial Markets and Policies, 15, 1250021 (24 pages). (國科會99年度專題研究計畫：NSC 99-2410-H-364-001-。FLI; EconLit;ABI；國科會一般財務類B級期刊, DOI: 10.1142/S021909151250021X)

  5. Chang, Matthew C., 2013, Do Cats and Dogs Eat Grass before a Rain? Analysis of Weather Effects on Order Submissions and Order Imbalances, Investment Management and Financial Innovations, 10, 31-41. (EconLit;ABI；國科會一般財務類B級期刊)

  6. Huang, Wen-Fang, Hsinan Hsu, Janchung Wang, and Matthew C. Chang, 2009, The Impacts of Institutional Net Buys/Sells on Returns in the Taiwan Futures Market, Investment Management and Financial Innovations, 6, 84-95. (EconLit;ABI；國科會一般財務類B級期刊)

  7. Chang*, Matthew C., Jui-Cheng Hung and Rebecca Chung-Fern Wu, 2023, Disposition, Confidence, and Profits and Losses: Evidence from the Taiwan Warrant Markets. International Journal of Information and Management Sciences (國際資訊與管理科學期刊), 34, 23-50. (SCOPUS; EI)

  8. Chang*, Matthew C., Jui-Cheng Hung and Chien-Liang Chiu, 2013, One Gold, Two Currencies: Price Discovery between Spot Exchange Rate and Implied Exchange Rate Derived from Futures. International Journal of Information and Management Sciences (國際資訊與管理科學期刊), 24, 23-38. (TSSCI; EI)

  9. Hung, Jui-Cheng, Jung-Bin Su, Matthew C. Chang, and Yi-Hsien Wang, 2020, The impact of liquidity on portfolio value-at-risk forecasts. Applied Economics, 52, 242-259. (SSCI, DOI: 10.1080/00036846.2019.1644442)

  10. Chang*, Matthew C. and Rebecca Chung-Fern Wu, 2013, Informativeness and Influence of Limit Order Books on Order Submissions in Electronic Continuous Auction Markets, Emerging Markets Finance and Trade, 49(S3), 70-97. (國科會98年度專題研究計畫：NSC 98-2410-H-364-005-。 SSCI, DOI: 10.2753/REE1540-496X4904S306)

  11. Chang*, Matthew C. and Jui-Cheng Hung, 2012, Can VaR Be Predictive for Regulation? Evidence from the Futures Industry in Taiwan, Romanian Journal of Economic Forecasting, 15, 147-162. (SSCI)

  12. Chang*, Matthew C. Yi-Hsien Wang, Jui-Cheng Hung and Chen Sun, 2015, R&D, Patent Arrangements, and Financial Performances: Evidence from Taiwan, Periodica Polytechnica: Social and Management Sciences, 23, 25-40. (Scopus)

  13. Hung, Jui-Cheng, Ren-Xi Ni and Matthew C. Chang, 2009, The Information Contents of VIX Index and Range-based Volatility on Volatility Forecasting Performance of S&P 500, Economics Bulletin, 29, 2601-2613. (EconLit)

  14. Hung, Jui-Cheng, Yi-Hsien Wang, Matthew C. Chang, Kuang-Hsun Shih, and Hsiu-Hsueh Kao, 2011, Minimum Variance Hedging with Bivariate Regime-switching Model for WTI Crude Oil, Energy, 36, 3050-3057. (SCI, DOI: 10.1016/j.energy.2011.02.049)

  15. Jiang, Shi-jie, Matthew C. Chang* and I-chan Chiang, 2012, Price Discovery in Stock Index: an ARDL-ECM Approach in Taiwan Case, Quality & Quantity: International Journal of Methodology, 46, 1227-1238. (SCI; SSCI, DOI: 10.1007/s11135-011-9433-1)

(二)中文期刊論文

  1. 吳琮璠、張志宏、王全三，2012，期貨商風險資本之計提：ANC與BIS的比較，期貨與選擇權學刊，5(2)，1-28。（TSSCI; leading article）

  2. 洪瑞成、張志宏*、黃健銘、邱建良， 2013，期貨商財務績效與經營風險，期貨與選擇權學刊，6(2), 51-71。(TSSCI)

 

研討會論文

  1. Chang*, Matthew C. and Jui-Cheng Hung, The Determinants and Impacts of Short Selling Activity in Taiwan Stock Market, The 21st NTUB Academic Forum Business and Economic Trends in the Post Pandemic Era, National Taipei University of Business, Taipei City, Taiwan, October 28, 2022.

  2. Chang*, Matthew C., Market Sentiment, Marketable Transactions, and Returns, The 28th Conference on the Theories and Practices of Securities and Financial Markets, National Sun Yat-sen University, Kaohsiung, Taiwan, December 11-12, 2020.

  3. Hung, Jui-Cheng, Matthew C. Chang* and Yi-Hsien Wang, The Impact of Liquidity on Portfolio Value-at-Risk Forecasts, The 11th NCTU International Finance Conference, 1st floor, Management Building 1, Kuang-Fu Campus, NCTU, Taiwan, December 8, 2017.

  4. Chang* , Matthew C. and Jui-Cheng Hung, Informativeness of Limit Order Books and Order Submission Behaviors of Institutional and Individual Investors in Electronic Continuous Auction Markets, 2011 Las Vegas Global Conference on Business and Finance, Flamingo Las Vegas Hotel, Las Vegas, Nevada, U.S.A., January 2-5, 2011.

  5. Chang*, Matthew C. and Woon K. Wong, Are the Depths on Limit Order Books in Electronic Continuous Auction Markets Informative? Society for the Study of Emerging Markets EuroConference 2010, Milashan Hotel, Milas, Turkey, July 16-18, 2010.

  6. Nieh, Chien-Chung, Matthew C. Chang* and Shi-jie Jiang, Depth Provision and Volatility- The Role of Market Makers on Options Markets, The First Asia Conference on Financial Engineering and Markets (ACFE 2008), City University of Hong Kong, Kowloon, Hong Kong SAR, June 23- 24, 2008.

  7. Wong, Woon K., Matthew C. Chang* and Anthony H. Tu, Are Magnet Effects Caused by Uninformed Traders? Evidence from Taiwan Stock Exchange, The Joint 14th Annual PBFEA and 2006 Annual FeAT Conference, The Grand Hotel, Taipei, Taiwan, July 14-15, 2006.

  8. Wong, Woon K., Matthew C. Chang and Anthony H. Tu, Are Magnet Effects Caused by Uninformed Traders? Evidence from Taiwan Stock Exchange, International Conference on Microstructure of Financial and Money Markets, 115, rue Réaumur, 75003, Paris, France, June 6-7, 2006.

  9. Chang, Matthew C. and Chung-Fern Wu, Information Content of Limit Order Books and Order Submissions of Institutional and Individual Investors in Electronic Continuous Auction Markets, the Conference on East Asia Finance- Crisis and Recovery of Financial Markets, Taipei Campus, Tamkang University, Taiwan, May 26-27, 2012.

  10. Chang *, Matthew C., The Relationship between Spot Exchange Rate and Implied Exchange Rate Derived from NTD/USD Gold Futures on the TAIFEX，第十五屆科際整合管理研討會，台灣台北：東吳大學, 2012年6月16日。

  11. Chang* , Matthew C., Effectiveness of Value-at-Risk as a Predictor for Regulation: Empirical Evidence from the FCMs in Taiwan, IRJAF Annual Applied Finance Conference, the Rhode Island Convention Centre (RICC) in Providence, Rhode Island, U.S.A., September 14-15, 2012.

專書

 

 

研究計畫

  1. 張志宏，台灣衍生性商品市場情緒指標與不同類型交易人委託單積極度之研究，國科會100年度專題研究計畫（財金及會計學門，NSC 100-2410-H-364-010-）：主持人。
  2. 張志宏，台灣加權股價指數期貨與選擇權快閃委託單之研究，國科會99年度專題研究計畫（管理一學門財務領域，NSC 99-2410-H-364-001-）：主持人。
  3. 張志宏，委託單驅動市場透明度與虛掛單之研究，國科會98年度專題研究計畫（管理一學門財務領域，NSC 98-2410-H-364 -005 -）：主持人。
  4. 吳琮璠、陳聖賢、林修葳、張志宏、王全三，期貨市場採用Basel II計提風險資本之可行性分析，台灣期貨交易所99年度委託研究計畫：協同主持人。
  5. 吳琮璠、林修葳、陳聖賢、張志宏、王全三、洪瑞成，期貨商採BASEL II計提風險資本與ANC有效性之比較，台灣期貨交易所98年度委託研究計畫：研究員。
  6. 張志宏，集合競價市場下單速度、透明度與獲利之研究，科技部108年度專題研究計畫（財金及會計學門，108-2410-H-034-015-）：主持人。

指導論文

 

 

榮譽獎賞

一、校外獎勵

  1. 行政院科技部102、103、104學年度補助大專院校獎勵特殊優秀人才
  2. 2013第十二屆台灣科技大學管理新思維學術研討會財務管理組最佳論文
  3. 2014中華民國證券暨期貨市場發展基金會「第九屆證券暨期貨金椽獎－研究發展論文甄選」特別獎
  4. 2015東亞經濟與管理研討會論文特別獎
  5. 玄奘大學101學年度研究優良教師
  6. 玄奘大學101學年度教學優良教師
  7. 中華民國證券暨期貨市場發展基金會「校園人才培訓計畫－論文研究補助」優秀博士論文

二、校內獎勵

  1. 2023年中國文化大學教學傑出教師
  2. 2023 EI論文獎
  3. 2021 SSCI論文獎
  4. 2020 SSCI論文獎
  5. 2018 SSCI論文獎

期刊學報編審

  1. Referee, International Journal of Information and Management Sciences (EI): 2021/2.

  2. Referee, Applied Economics incorporating Applied Financial Economics (SSCI): 2020/9, 2021/11.

  3. Referee, Asia Pacific Journal of Tourism Research (SSCI): 2019/5.

  4. Referee, International Journal of Performance Measurement: 2019/8, 2022/8.

  5. Referee, Journal of Accounting, Finance & Management Strategy: 2017/10.

  6. Referee, International Review of Applied Economics (SSCI): 2017/2.

  7. Referee, International Economic Journal (SSCI): 2016/10.

  8. Referee, International Review of Financial Analysis (SSCI): 2014/10, 2021/8.

  9. Referee, Asia-Pacific Journal of Financial Studies (SSCI): 2013/4, 2013/8, 2014/7.

  10. Referee, Emerging Markets Finance and Trade (SSCI): 2008/10, 2017/8.

  11. Referee, Journal of Applied Finance and Banking (EconLit): 2012/1.

  12. Referee, International Journal of Bonds and Currency Derivatives: 2013/1, 2013/4.

  13. Referee, International Economic Journal (EconLit): 2016/10.

  14. Referee, International Review of Applied Economics (EconLit): 2017/2.

  15. Referee, International Journal of Finance and Economics (SSCI): 2018/1.

 

其他

  1. 合格期貨交易分析人員，換(103)期交析測證字第3434100002號。
  2. 合格證券投資分析人員，(93)證投析測字第043430023號。
  3. 教育部教授升等審查委員。
  4. 台灣金融研訓院命題委員、口試委員
  5. 國防工業發展基金會評鑑委員