Staff profile

Professor Xiangkang

Professor Xiangkang Yin

Professor of Finance

College of Arts, Social Sciences and Commerce

La Trobe Business School

Department of Economics and Finance

Ed1 342, Melbourne (Bundoora)

Qualifications

BSc Fudan, MEng Shanghai Jiaotong, PhD Shanghai Jiaotong

Role

Academic

Area of study

Finance

Brief profile

Xiangkang received his PhD from Shanghai Jiaotong University (SJTU) in 1989. In the following three years, he held a position as a lecturer and later as an associate professor at SJTU. He then moved to Université Louis Pasteur (Université de Strasbourg) in 1992 and to Monash University in 1994. He joined La Trobe University in 1995 and was appointed to the Professor of Economics and Finance in 2006. During 2012-2014, he served as the head of Department of Finance. Xiangkang’s recent research covers a wide range of financial issues in asset pricing and investment, corporate finance and governance, and financial markets microstructure and information. He publishes extensively in top-tier and leading academic journals, including Journal of Finance, Journal of Applied Econometrics, Journal of Banking and Finance, Journal of Economic Behavior and Organization, and Journal of Development Economics. Xiangkang is the chief investigator of three ARC (Australian Research Council) funded research projects. 

Research interests

Asset pricing and investment

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Corporate finance and governance

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Financial and economic theory

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Financial markets microstructure and information

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Teaching units

Portfolio Management (FIN5PMT)

Market Risk Managment (FIN5MRM)

Recent publications

Selected journal articles

L. Xu and X. Yin, forthcoming, “Does ETF Trading Affect the Efficiency of the Underlying Index?”, International Review of Financial Analysis.

L. Xu and X. Yin, forthcoming, “Exchange Traded Funds and Stock Market Volatility: The Case of S&P 500”, International Review of Finance

H. Chou, B. Li, X. Yin and J. Zhao, 2017, “Variables in Dollar Terms versus in Rate Terms: The Case of Market Feedback on Merger Negotiations”, International Review of Financial Analysis, vol. 49, 138–145.

X. Yin and J. Zhao, 2015, "A Hidden Markov Model Approach to Information-Based Trading: Theory and Applications", Journal of Applied Econometrics, vol. 30, no. 7, 1210–1234.

H. Chou, G. Tian and X. Yin, 2015, “Takeover Rumors: Returns and Pricing of Rumored Targets”, International Review of Financial Analysis, vol. 41, 14–26.

T. Nguyen, H. Nguyen and X. Yin, 2015, "Corporate Governance and Corporate Financing and Investment during the 2007-2008 Financial Crisis", Financial Management, vol. 44, no. 1, 115–146. 

H. Luong, H. Nguyen and X. Yin, 2015, "When Is a Firm's Information Asymmetry Priced? The Role of Institutional Investors", International Review of Finance, vol. 15, no. 1, 55–88..  

C. Choe, G. Tian and X. Yin, 2014, "CEO Power and the Structure of CEO Pay", International Review of Financial Analysis, vol.35, 237-248.

W. Lou and X. Yin, 2014, “The Impact of the Global Financial Crisis on Mortgage Pricing and Credit Supply”, Journal of International Financial Markets, Institutions & Money, vol. 29, 336–363.

H. Chou, H. Chung and X. Yin, 2013, “Attendance of Board Meetings and Company Performance: Evidence from Taiwan”, Journal of Banking and Finance, vol. 37, no.11, 4157–4171.

X. Yin, 2013, “Two-Part Tariffs Set by a Risk-Averse Monopolist”, Journal of Economics, vol. 109, no. 2, 175-192W. Lou, D. Prentice and X. Yin, 2012, “What Difference Does Dynamics Make? The Case of Digital Cameras”, International Journal of Industrial Organization, vol. 30, no. 1, 30-40.

S. Basov and X. Yin, 2011, “Liquidity Supply by a Risk-Averse Market Maker”, Economic Record, vol. 21, no. 279, 617-628.

B. Li and X. Yin, 2011, “Information and Capital Asset Pricing”, European Journal of Finance, vol. 17, no.7, 505-523.

H. Chou, H. Li and X. Yin, 2010, “The Effects of Financial Distress and Capital Structure on the Work Effort of Outside Directors”, Journal of Empirical Finance, vol. 17, no. 3, 300-312.

S. Basov and X. Yin, 2010 “Nonlinear Pricing by Risk-Averse Principals”, B.E. Journal of Theoretical Economics, vol. 10, no. 1 (Topics), Article 8.

C. Choe and X. Yin, 2009, “Diversification Discount, Information Rents, and Internal Capital Markets”, Quarterly Review of Economics and Finance, vol. 49, no. 2, 178-196.

X. Yin, 2008, “Going-Public vs. Private Sales: A Two-Tiered Agency Approach”, International Review of Financial Analysis, vol. 17, no. 3, 523-538.

C. Choe and X. Yin, 2006, “Should Executive Stock Options Be Abandoned?”, Australian Journal of Management (lead paper, runner-up of 2006 E. Yetton Best Paper Award), vol. 31, no. 2, 163-179.

V. Mongkolporn and X. Yin, 2005, “How Does the Entry of New Firms Change Demand? An Empirical Estimation for a Thai Telecommunications Company”, Journal of Asian Economics, vol. 16, no. 4, 688−703.

X. Yin, 2005, “A Comparison of Centralized and Fragmented Markets with Costly Search”, Journal of Finance, vol. 60, no. 3, 1567-1590.

D. Prentice and X. Yin, 2004, “Constructing a Quality-Adjusted Price Index for a Heterogeneous Oligopoly”, The Manchester School (lead paper), vol. 72, no. 4, 423-442.

X. Yin, 2004, “Two-Part Tariff Competition in Duopoly”, International Journal of Industrial Organization, vol. 22, no. 6, 799-820.

X. Yin, 2003, “The Strategic Choice of Managers and Managerial Discretion”, Australian Economic Papers, vol. 42, no. 4, 373-385.

X. Yin, 2003, “Corrective Taxes under Oligopoly with Inter-Firm Externalities”, Environmental and Resources Economics, vol. 26, no. 2, 269-277.

X. Yin, 2001, “A Dynamic Analysis of Overstaff in China’s State-Owned Enterprises”, Journal of Development Economics, vol. 66, no. 1, 87-99.

X. Yin and E. Zuscovitch, 2001, “Interaction of Drastic and Incremental Innovations: Economic Development through Schumpeterian Waves”, Economie Appliquée (lead paper), vol. 54, no. 2, 7-35.

X. Yin, 2001, “A Model of Shareholder Discounts”, Economic Record, vol. 77, no. 236, 89-102.

C. Choe and X. Yin, 2000, “Do China’s State-Own Enterprises Maximize Profits?”, Economic Record, vol. 76, no. 234, 273-284.

C. Choe and X. Yin, 2000, “Contract Management Responsibility System and Profit Incentive in China’s State-Owned Enterprises”, China Economic Review, vol. 11, no. 1, 98-112.

X. Yin and E. Zuscovitch, 1998, “Is Firm Size Conducive to R&D? A Strategic Analysis of Product and Process Innovations”, Journal of Economic Behavior and Organization, vol. 35, no. 2, 243-262.

Research projects

A New Approach to Information-Based Securities Trading (with Jing Zhao), Australian Research Council Discovery Projects (DP140100113), $174,553, 2014-2016.

A Synthesis of Agency and Managerial Power Theories and Its Applications to Corporate Governance, Management Compensation, and Firm Performance (with Chongwoo Choe), Australian Research Council Discovery Projects (DP0663716), $94,724, 2006-2007.

Metal Injection Moulding of Aluminium (with Graham Schaffer, Timothy Sercombe and David Prentice), Australian Research Council Linkage Projects (LP0455125), $328,000; Industry Partners, $120,000, 2004-2007.