Dr. Alex Tang

Alex Tang
Title: 
Professor
Office Location: 
GSBM 514A
Phone: 
443-885-3175
Email: 
alex.tang@morgan.edu
Education:

Ph.D. Finance, University of Houston, 1990
MBA, University of Houston, 1979
BBA Banking, National Chengchi University, Taipei, 1975

Education:

Ph.D. Finance, University of Houston, 1990
MBA, University of Houston, 1979
BBA Banking, National Chengchi University, Taipei, 1975

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Alex P. Tang is a Professor of Finance in the Graves School of Business and Management (GSBM) at the Morgan State University. He received his Ph.D. in Finance from the University of Houston. His teaching interests are Corporate Finance, Investments and Empirical Capital Market Research (Ph.D. Level). His main research interests are in the areas of Analytical and Empirical Capital Market Investigations of Financial Decisions. His numerous publications have appeared in leading finance and accounting journals including Journal of Finance; Financial Management; Financial Review; Global Finance Journal; International Review of Economics and Finance; Journal of Banking and Finance; Journal of Business Finance and Accounting; Journal of Financial Research; Quarterly Journal of Business and Economics; Quarterly Journal of Finance and Accounting; Advances in Accounting; Review of Quantitative Finance and Accounting; Accounting and Finance; Journal of Applied Finance; and Review of Accounting and Finance.

He is a major participant in the GSBM's AACSB accreditation committee since 1995. He received the Outstanding Educator of the Year award in 2006. He is also a Chartered Financial Analyst (CFA) charter holder since 1999. He is well liked by his students. He is often commended by his students for his knowledge and professionalism in the classroom.

Dr. Tang has been recognized as one of a few finance professors nationwide who has published in most major finance journals. His research is widely quoted and referenced in scholarly papers and textbooks in the United States and abroad. His research has also been cited in the comment letter sent to the Securities and Exchange Commission (the SEC). He has been invited as a guest speaker by a number of universities, professional associations and banks in China and Taiwan.

In recent years, Dr. Tang's research focuses on providing evidence in support of policy and regulatory issues. For example, his co-authored project entitled, "Did the 2008 Short-Sale Ban Prevent a Market Crash?" shows that the Short-Sale Ban imposed by the SEC during the 2008 Financial Crisis has been successful in preventing a complete market meltdown. In the study entitled, "The Impact of Regulatory Changes and the SEC's Investigation on Option Backdating Firms' Corporate Governance", he and his coauthor find that the SEC investigation is most useful in pressing backdating firms to take remedial actions to improve their governance practices to restore investors' confidence. In another study entitled, "SFAS No. 159: An Examination of Early Electors, Late Electors and Non-Electors in the Banking Industry", he and his co-author examine the timing and the determinants of electing Statement of Financial Accounting Standard (SFAS) No. 159 in the banking industry. Not only Dr. Tang is productive himself, he is also collegial, and supportive of his colleagues, visiting scholars and Ph.D. students in their researches.

RESEARCH INTERESTS

Analytical and Empirical Capital Market Investigations of Financial Decisions

PUBLICATIONS

Mburu, H. & Tang, A. P. (2018). The Adoption of Voluntary Clawback Provisions and the Broader Commitment Hypothesis. Advances in Accounting 43, 60-69.

Mburu, H. & Tang, A. P. (2018). Voluntary Clawback Adoption and Analyst Following, Forecast Accuracy, and Bias. Journal of Accounting and Finance 18, 106-122.

Amoah, N., Anderson, A., Bonaparte, I.,& Tang, A. P. (2017) Internal Control Material Weakness and Managerial Manipulation of Operational Decisions. Advances in Public Interest Accounting 20, 1-21.

Tang, A. P., & Williams, J. (2014). Long Run Stock Returns and Abnormal Accruals of Private Issuers: Are They Different from Public Issuers? Journal of Accounting and Finance, 13 (1), 121-136.

Ababneh, M. & Tang, A. P. (2013). Market Reaction to Health Care Law: An Event Study. International Journal of Accounting and Financial Reporting 3, 108-127.

Xu, L. & Tang, A. P. (2013). Internal Control Material Weakness, Analysts' Accuracy and Bias, and Brokerage Reputation (reprint) in: Cheng-Few Lee (ed.), Handbook of Financial Econometrics and Statistics, Chapter 63, Springer

Amoah, N. & Tang, A. P. (2013). Resolution of Restatement-Induced Lawsuits after the Private Securities Litigation Reform Act. Research in Accounting Regulation (25), 41-46.

Xu, L. & Tang, A. P. (2012). Internal Control Material Weakness, Analysts' Accuracy and Bias. Review of Quantitative Finance and Accounting (39), 27-53.

Chang, J. C., Tang, A. P. & Krivogorsky, V. (2011). (Leading Article) The Impacts of SOX and SEC Investigation on the Corporate Governance of Option Backdating Firms. Advances in Accounting (27), 205-212.

Xu, L. & Tang, A. P. (2011). SFAS No. 159: An Examination of Early electors, Late electors and Non-electors in the Banking Industry. Review of Accounting and Finance (10), 92 - 109.

Tang, A. P. & Xu, L. (2011). Institutional Ownership and Internal Control Material Weakness. Quarterly Journal of Finance and Accounting (49), 93-117.

Amoah, N. & Tang, A. P. (2010). Board, Audit Committee and Restatement-Induced Class Action Lawsuits. Advances in Accounting (26), 155-169.

Nguyen, V. & Tang, A. P. (2010). Did the 2008 Short-Sale Ban Prevent a Market Crash? Journal of Applied Finance (21), 62-78.

Williams, J. & Tang, A. P. (2009). Private Placements of Convertible Securities: Stock Returns, Operating Performance and Abnormal Accruals. Accounting and Finance, 49 (4), 873-899.

Ma, Y., Sun, H., & Tang, A. P. (2009). Do Insiders have Inside Tracks: An Examination of Wall Street Journal's Inside Track Columns? International Review of Economics and Finance, 18, 520-530.

Ma, Y., & Tang, A. P. (2007). Analysts' Earnings Coverage and Non-Reporting Bias During the Asian Financial Crisis. Global Business and Finance Review, 12 (2), 1-15.

Ma, Y., Tang, A. P. & Hassan, T. (2005). The Stock Price Overreaction Effect: Evidence on Nasdaq Stocks. Quarterly Journal of Business and Economics, 44 (3&4), 113-128.

Kadapakkam, P., Sun, H., & Tang, A. P. (2004). Operating Performance and Stock Returns of Firms Calling Convertible Preferred Stocks. Journal of Business Finance & Accounting, 31, 1559-1576.

Ma, Y., Sun, H., & Tang, A. P. (2004). The Valuation Effect of Government's Merger Challenges: Evidence from a Regulated Industry. Quarterly Journal of Business and Economics, 3-20.

Ma, Y., Sun, H., & Tang, A. P. (2003). The Stock Return Effect of Political risk Event on Foreign Joint Ventures: Evidence from the Tiananmen Square Incident. Global Finance Journal, 49-64.

Tang, A. P. & Ma, Y. (2002). Impacts of Intrastate Deregulation on the Performance of Trucking Firms. American Business Review (20), 33-42.

Bae, G., Jeong, J., Sun, H., & Tang, A. P. (2002). Stock Returns and Operating Performance of Securities Issuers. Journal of Financial Research, 337-352.

Sun, H. & Tang, A. (2000). The Sources of Railroad Merger Gains: Evidence from Stock Price Reaction and Operating Performance. Transportation Journal, 14-26.

McKinley, W., Schick, A. G., Sun, H., & Tang, A. P. (1999). The Financial Environment of Layoffs: An Exploratory Study. Journal of Strategic Management (1), 121-145.

Sun, H., & Tang, A. P. (1998). The Intra-Industry Effect of Layoff Announcements. American Business Review (16), 68-76.

Palmon, O., Sun, H. & Tang, A. P. (1997). Layoff Decisions: Earnings Performance, Stock Returns and the Informational Content of, their Announcements. Financial Management (3), 54-68.

Kadapakkam, P. & Tang, A. P. (1996). Stock Reaction to Dividend Savings of Convertible Preferred Calls: Free Cash Flow or Price Pressure Effects? Journal of Banking and Finance (20), 1759-1773.

Palmon, O., Sun, H., & Tang, A. P. (1994). The Impact of Publications of Analysts' Recommendations on Returns and Trading Volume. Financial Review (29), 395-417.

Tang, A. P., Kadapakkam, P., & Singer, R. F. (1994). The Valuation Effects of Out-of The-Money Calls of Convertible Securities. Journal of Financial Research, 17 (4), 481-493.

Tang, A. P. & Singer, R. F. (1993). Valuation Effect of Issuing Non-subordinated Versus Subordinate Debt. Journal of Financial Research, 16 (1), 11-21.

Hochman, S. J., Palmon, O., & Tang, A. P. (1993). Tax-Induced Intra-Year Patterns in Bonds Yields. Journal of Finance, 48 (1), 331-344.