Faculty
Jimmy Yang
Professor
Finance

Jimmy Yang

541-737-6005

jimmy.yang@bus.oregonstate.edu

Faculty
Jimmy Yang
Overview
Overview
Background
Publications

Overview

Career Interests

Jimmy Yang is a Professor of Finance in the College of Business. He currently teaches courses in Corporate Finance and International Financial Management. His research has focused on market stabilization mechanisms, international financial markets, and equity offerings.

Background

Education

Ph.D. University of Cincinnati (2003)
Finance                            

MBA Saint Louis University (1997)               
Finance  

BA National Chung Hsing University (1993)
Public Finance  

Experience

  • Professor, College of Business, Oregon State University (2015 - present)
  • Associate Professor, College of Business, Oregon State University (2009 - 2015)
  • Assistant Professor, College of Business, Oregon State University (2003 - 2009)
  • Instructor, College of Business Administration, University of Cincinnati (2001 - 2002)

 

Professional Affiliations

  • American Finance Association
  • Financial Management Association
  • Western Finance Association

Honors & Awards

  • Toomey Faculty Fellow, COB, Oregon State University (2012-2014)
  • Faculty International Grant, International Programs, Oregon State University (2013)
  • International Programs Faculty Grant, Oregon State University (2011, 2012)
  • Newcomb Fellowship, COB, Oregon State University (2009)
  • Gazette-Times Faculty Leadership Award, COB, Oregon State University (2009)
  • Outstanding Faculty Service Award, COB, Oregon State University (2007, 2008)
  • Summer Research Fellowships, COB, Oregon State University (2004, 2005, 2006, 2008, 2009, 2010, 2013)
  • University Distinguished Dissertation Fellowship for Behavioral & Social Sciences, University of Cincinnati (2002-2003)
  • University Graduate Scholarships, University of Cincinnati (1998-2002)
  • Summer Research Fellowships, University of Cincinnati (2000)

Publications

Academic Journal
Finance

“Trader Positions in VIX Futures”

We investigate the dynamic changes in trader positions of market participants in the VIX futures markets. We find that in a low-VIX period, below the 23.81 threshold determined by our model, changes in VIX futures affect the trading decisions of dealers and leveraged fund managers, but in an opposite direction. During a high-VIX period, dealers and leveraged fund managers would then alter their trading strategies. We highlight the important role of exchange-traded products trading in hedging demand of dealers and show the impact on VIX futures. Trader positions are determinants of VIX futures prices, basis, and VIX premium.
Details

1-17 pages 2021 Yu-Lun Chen Jimmy Yang View on: Google Scholar

Academic Journal
Finance

“Share Pledging, Payout Policy, and the Value of Cash Holdings”

Share pledging for insiders’ personal bank loans is associated with the agency problems of insider risk aversion and stock price crash risk. We examine the relation between insider share pledging and the value of cash holdings using the pledging data of listed firms in Taiwan. We find that the value of cash holdings is lower for pledging firms, especially for those that are relatively more risk averse. Pledging firms that repurchase shares have a higher marginal value of cash than those with other payout methods, likely due to the role of repurchases in reducing the stock price crash risk. Our results show how insiders’ personal financing incentives arising from share pledging would affect the value of cash holdings from the perspective of agency problems and payout policy.
Details

18-33 pages 2021 Robin Chou Yu-Chun Wang Jimmy Yang View on: Google Scholar