• CHANG, Eric Chieh

    Term Professor, MBA Program Academic Director

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  • Support Staff:

    Yaqian Ding

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  • Research Interests

    International Finance, Capital Asset Pricing, Derivative Securities, Risk Management, Behavior Finance, and Mutual Fund Management.

Eric C. Chang is Professor and MBA Program Academic Director at Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University. Prior to joining SAIF, Professor Chang was a full-time faculty member at the University of Hong Kong for over twenty years where he was the Dean of the Faculty of Business and Economics (2011 – 2017), Chung Hon-Dak Professor of Finance (2007 – 2018), Chair of Finance (1998 – 2018) and the founding Director of the Center of Financial Innovation and Risk Management of the Faculty.

Professor Chang received his PhD in finance from the Krannert Graduate School of Management at Purdue University. He began his academic career at the University of Iowa, moved to the University of Maryland in 1986 and became a full professor in 1994. He joined the DuPree College of Management of Georgia Institute of Technology as Invesco Endowed Chair Professor of International Finance in 1995 and then The University of Hong Kong as Chair of Finance in 1998.

Professor Chang’s research is in international finance, capital asset pricing, derivative securities, risk management, behavior finance, and mutual fund management. He has published articles in many leading finance journals including Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Accounting and Economics, Management Science, Journal of Financial and Quantitative Analysis, and Journal of Business. Professor Chang also serves on the editorial boards of several academic journals.

Professor Chang conducts executive education programs for eminent international institutions and has served as consultant to key financial bodies, including the Commodity Futures Trading Commission of the U.S., Securities and Futures Commission of Hong Kong, Futures Exchange of Taiwan and United Nations Development Programs. He has also offered his expert consultancy to several Asian financial private institutions.

Professor Chang is active in public service. He has served on various committees of public bodies such as the EQUIS (European Quality Improvement System) Academic Committee, AACSB (Association to Advance Collegiate Schools of Business) Peer Review Teams, AJGC (Academic Journal Guide Committee), Securities and Futures Appeals Tribunal of the Hong Kong Special Administrative Region (HKSAR) Government, Hong Kong Securities and Futures Commission, Hong Kong Research Grant Council, National Natural Science Foundation of China/Research Grant Council Joint  Research  Scheme  and  HKSAR Government’s Advisory Committee on Human Resources Development in the Financial Services Sector.

Journal Publications

1. Chang, Eric C.,Tse-Chun and Xiaorong Ma, 2020, Governance Through Trading on Acquisitions of Public Firms, Journal of Corporate Finance

2. Zhang, Jin E, Eric C. Chang, and Huimin Zhao, 2020, Market Excess Returns, Variance and the Third Cumulant, International Review of Finance

3. Chang, Eric C., Tse-Chun Lin and Xiaorong Ma, 2019, Does Short-selling Threat Discipline Managers in Mergers and Acquisitions Decisions?, Journal of Accounting & Economics

4. Chang, Eric C., Tse-Chun Lin, Yan Luo and Jinjuan Ren, 2019, Ex-day Returns of Stock Distributions: An Anchoring Explanation, Management Science

5. Chang, Eric C., Dragon Yongjun Tang, and Miao Ben Zhang, 2015, Suitability Checks and Household Investments in Structured Products, Journal of Financial and Quantitative Analysis