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Curriculum Vitae

謝佩芳 (Pei-Fang Hsieh)

Contract

Tel: (886-3) 516-2132

Fax: (886-3) 562-1823

mobile: (886-9) 37470208

Email: pfhsieh@mx.nthu.edu.tw

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Education

BA in International Trade, Tunghai University, 1996-2000

M.A. (Finance), National Central University, 2000-2002

Ph.D. (Finance), National Central University, 2004-2009

Experience

Associate Professor, Department of Quantitative Finance, National Tsing Hua University (2015.08-present)

Assistant Professor, Department of Quantitative Finance, National Tsing Hua University (2010.02-2015.07)

Post-Doctoral Research, Department of Finance, National Central University (2009.08-2010.01).

Adjunct Instructor, Department of Finance, Minghsin University of Science and Technology (2004.09-2009.07)

Industrial Analyst, Taiwan Industry Economics Services, Taiwan Institute of Economic Research (2003.09-2004.08)

Researcher, Derivative Department, Fuhua Security Company (2002.07-2003.09)

Research Topics

Effective market topics and information content in derivative market, empirical studies for derivative market, corporate finance topics for derivative market.

Journal publications (Selected)

A. Journal publications

1. Lin, Zih-Ying, Guan-Ying Huang, and Pei-Fang Hsieh (2018), "Volatility Spreads and Patent Announcement Returns", Journal of Financial Studies, 26(3), 1-26. (Lead article)

2. Hsieh, Pei-Fang *, Chang, Chuang-Chang, Hung Neng Lai and Wei-Sen Hsu (2017), " The Relative Trading Activity in Options and Stock: Evidences from the Taiwan Stock Exchange ", Futures and Options 10(1), 1-34. (Lead article, 2018 Futures and options best paper reward)

3. Hsieh, Pei-Fang* and Pei-Wen Lin (2016), " The Information Content of Stock Repurchase Announcements: A New Perspective from Warrants Trades ", Review of Securities and Futures Market, 28(1), 103-122.

4. Chang, Chuang-Chang and Pei-Fang Hsieh*(2016), "A Survey of Empirical Studies on Trading Activities in the Taiwan Index Options Market", Taiwan Economic Review, 44(1), 57-75.

5. Chang, Chuang-Chang, Pei-Fang Hsieh*, and Yaw-Huei Wang (2015),“ Sophistication, Sentiment, and Misreaction”, Journal of Financial and Quantitative Analysis, 50(4), 903-928.

6. Chuang-Chang Chang, Pei-Fang Hsieh, Chih-Wei Tang and Yaw-Huei Wang (2013),“The Intraday Behavior of Information Misreaction Across Various Categories of Investors in the Taiwan Options Market”, Journal of Financial Market, 16, 362-385.

7. Chang, Chuang-Chang, Pei-Fang Hsieh, and Hung Neng Lai (2013),“The Price Impact of Options and Futures Volume in After-hours Stock Market Trading”, Pacific-Basin Finance Journal, 21, 984-1007.

8. Chang, Chuang-Chang, Pei-Fang Hsieh, and Yaw-Huei Wang (2010),“Information Content of Options Trading Volume for Future Volatility: Evidence from the Taiwan Options Market”, Journal of Banking & Finance, 34, 174-183.

9. Chang, Chuang-Chang, Pei-Fang Hsieh, and Hung Neng Lai (2009),“Do Informed Option Investors Predict Stock Returns? Evidence from the Taiwan Stock Exchange”, Journal of Banking and Finance, 33, 757-764.

B. Book

1. Essays on Information Content in Options Markets, Ph.D. Dissertation, National Central University, May 2009.

2. An Analysis of Bank Consolidation Values: A Real Option Approach, (with C.C. Chang and H.N. Lai), Chapter 38 at Handbook of Quantitative Finance and Risk Management, publisher by Springer, 2009.

C. Conference Presentation

1. Does Informed Options Trading Prior to Innovation Grants Announcements Reveal the Quality of Patents? 27th European Financial Management Association (EFMA) conference, 2018, Milan, Italy.

2. Asset Substitution Problem and the Role of CEO's Risk-taking Incentives in Financially Distressed Firms, FeAT, 2018, Hsinchu, Taiwan.

3. Order Revisions, Order Aggressiveness, and Performance, FeAT, 2017, Jongli, Taiwan.

4. Volatility Spreads and Innovation Grants Announcement Returns, Asian Finance Association Annual Conference (AFMA), 2016, Bangkok, Thailand.

5. The Impact of Volatility and Net Buying Pressure on the Trading Demand of Speculators and Hedgers, European Financial Management Association (EFMA) conference, 2014, Rome, Italy.

6. The Impact of Volatility and Net Buying Pressure on the Trading Demand of Speculators and Hedgers, Taiwan Finance Association Annual Meeting, 2014, HsinChu, Taiwan.

7. A Comprehensive Investigation of Investor Sentiment and Misreaction in the Taiwan Options Market, Finance Management Association Asian Conference, 2013, Shanghai, China.

8. The Price Impact of Options and Futures Volume in After-hours Stock Market Trading, Finance Management Association Annual Meeting, October, 2012, Atlanta, USA.

9. The Price Impact of Options and Futures Volume in After-hours Stock Market Trading, Asian Finance Association, July, 2012, Taipei, Taiwan.

10. The Intraday behavior of information misreaction across various categories of investors in the Taiwan options market, Finance Management Association Annual Meeting, October, 2011, Denver, USA.

11. The Price Impact of Options and Futures Volume in After-hours Stock Market Trading, The 18^th Conference on the Theories and Practices of Securities and Financial Markets, December 2010, Kaohsiung, Taiwan.

12. Information Content of Options Trading Volume for Future Volatility: Evidence from the Taiwan Options Market, The 21^st Australasian Finance and Banking Conference, December 2008, Sydney, Australasia.

13. The Information Content of Options Trading: Evidence from the Taiwan Stock Exchange, The 2^nd Emerging Markets Group Conference on Emerging Markets Finance, May 2008, London, UK.

14. An Analysis of Bank Consolidation Values: A Real Option Approach, The Conference on Quantitative Finance and Risk Management, January 2008, HsinChu, Taiwan.

15. The Information Content of Options Trading: Evidence from the Taiwan Stock Exchange, The 15^th Conference on the Theories and Practices of Securities and Financial Markets, December 2007, Kaohsiung, Taiwan.

Academy Services

學術演講

1. 計量理論與應用研究中心, 2010.05

2. 靜宜大學財務金融系, 2011.12

3. 暨南大學財務金融系, 2012.06

4. 明新科技大學財務金融系, 2012.09

5. 淡江大學財務金融系, 2012.11

6. 中央大學財務金融系, 2013,08

7. 政治大學財務管理系, 2014,05

8. 東吳大學應用數學系, 2014,06

9. 台灣大學財務金融系,2014,06

10. 逢甲大學財務金融系, 2016,05

11. 中原大學財務金融系, 2016,06

12. 中興大學財務金融系,2016,12

13. 清華大學計量財務金融系,2017,12

14. 上海社科院,2018,04

學術服務

Referee services for

Pacific-Basin Finance Journal

Asia Pacific Management Review;

Review of Quantitative Finance and Accounting

Emerging Markets Finance and Trade;

Review of Securities and Futures Markets;

Journal of Financial Study;

International Review of Economics & Finance;

Journal of Testing and Evaluation;

中山管理評論;

台大管理論叢;

企業管理學報;

期貨與選擇權;

東吳經濟商學學報;

經濟論文叢刊;

證券市場發展季刊;

管理學報;

學術榮譽：

100,103年國科會優秀年輕學者研究計畫。

101年證基會「第八屆證券暨期貨金椽獎」學術組甲等獎。

102-108年清華大學科技管理學院學術卓越獎勵。

105年崇越碩士論文獎，104年博碩士期貨與選擇權論文獎學金

108年期貨與選擇權期刊最佳論文獎