Research Vitae - Missouri State University Vitae Page 1 of 9 C. Edward Chang, ... HONORS AND AWARDS • Daisy Portenier Loucks Research Fellowship endowed chair professor, 2014-2015,

Research Vitae Page 1 of 9

C. Edward Chang, Ph.D.

Professor of Finance

Department of Finance and General Business

College of Business

Research Vitae

EDUCATION

Ph.D. Business Administration, University of Illinois at Urbana-Champaign, 1989 Fields of study: Business Economics, Finance, Quantitative Methods M.A. Political Economy, The University of Texas at Dallas, 1985 M.B.A. Business Administration, National Chengchi University, Taipei, Taiwan, 1981 B.S. Agricultural Economics, National Taiwan University, Taipei, Taiwan, 1979

EXPERIENCE

Professor of Finance, Missouri State University, 2002- present Associate Professor of Finance, Missouri State University, 1995-2002 Assistant Professor of Finance, Missouri State University, 1989-1995 International Loan Officer, Bank of America, Taipei Branch, Taipei, Taiwan, 1981-1983

COURSES TAUGHT

Financial Management Financial Markets and Intermediaries Intermediate Financial Management Management of Financial Institutions Advanced Financial Management Investments II International Financial Management Financial Markets Study Tour

HONORS AND AWARDS

• Daisy Portenier Loucks Research Fellowship endowed chair professor, 2014-2015, College of Business, Missouri State University

• Dean’s Research Scholar Award, 2013 and 2014, College of Business, Missouri State University

• Best-in-Track Award, Financial Services, MBAA International Annual Meeting, Academy of Finance, 2014

• Best-in-Track Award, Investments & Portfolio Management, MBAA International Annual Meeting, Academy of Finance, 2012

• College Excellence in Service Award, Missouri State University, 2005 • College Excellence in Teaching Award, Missouri State University, 1999, 2003 • University Excellence in Teaching, Missouri State University, 1997. • Excellent Instructor Award, University of Illinois, Fall 1988 • One of the 42 Master Teachers of Finance recognized by the paper “Learning From

Exemplary Teachers,” Gentry, James A. and Robin W. Pratt., Journal of Financial Education, 2003, Vol. 29 (Winter), 1-22.


• Summer Faculty Fellowship, Missouri State University, 1992, 1995, 1998, 2002, 2006 • Summer Research Grant, College of Business, Missouri State University, 1990-1991, 1998-

2003, 2005-2014, 2016

PUBLICATIONS Yellow highlight denotes my role as author since promotion to full professor Green highlight with one star* denotes mentoring a junior faculty member Green highlight with two stars** denotes mentoring a graduate student

REFEREED JOURNAL ARTICLES Chang, C. Edward and Thomas M. Krueger, “VICEX Fund vs. Virtue Fund Performance: Evidence

from the First Decade,” Journal of Business and Economic Perspectives, 43 (1), 2016, 54- 74.

Chang, C. Edward, Thomas M. Krueger, and H. Doug Witte, “Do ETFs outperform CEFs in fixed income investing?” American Journal of Business, 30 (4), 2015, 231-246.

Chang, C. Edward and Thomas M. Krueger, “Do Fundamental Index Funds Outperform Traditional Index Funds?” Journal of Financial Planning, 28 (12), 2015, 40-48.

Chang, C. Edward, Kent P. Ragan, and H. Doug Witte, “ETFs versus CEFs: Performance in International Equity Investing," International Journal of Economics and Finance, 5 (12), 2013, 79-85.

Chang, C. Edward and Thomas M. Krueger, “The VICEX Fund: Recent Shortcomings of a Long- Run Success Story," Journal of Management and Sustainability, 3 (3), 2013, 131-141.

Chang, C. Edward and Thomas M. Krueger, “Virtues of Investment Fund Recommendations: Consumer Reports and Money Magazine," Journal of Applied Business and Economics, 14 (3), 2013, 35-52.

Chang, C. Edward and Thomas M. Krueger, “Using Morningstar's Analytical Measures to Evaluate Investment Recommendations Made by Consumer Reports," International Journal of Economics and Finance, 5 (3), 2013, 1-8.

Krueger, Thomas M. and C. Edward Chang, “How Good Are Consumer Reports' Recommendations of Mutual Funds?" Journal of Investing, 22 (1), 2013, 88-103.

Chang, C. Edward, H. Doug Witte, and Y. Jenny Zhang*, “How Well Do Virtue Mutual Funds Stack Up?" International Research Journal of Applied Finance, 3 (8), 2012, 1101-1121.

Chang, C. Edward, Walt Nelson, and H. Doug Witte, “Do Green Mutual Funds Perform Well?" Management Research Review, 35 (8), 2012, 693-708.

Chang, C. Edward and Thomas M. Krueger, “The Case for Country-specific Closed-end Funds Instead of Exchange-traded Funds," International Business Research, 5 (5), 2012, 3-7.

Chang, C. Edward and H. Doug Witte, “U.S.-based International Equity Index Funds: Performance and Risk During Up and Down Market Conditions," Journal of International Financial Studies, 11 (2), 2011, 108-121.

Chang, C. Edward and Thomas M. Krueger, “Does Index Investing Work in Bonds?" Managerial Finance, 37 (5), 2011, 451-464.

Chang, C. Edward, H. Doug Witte, and Tsu-Hong Yen*, “International Index Investing during Financial Crisis," Journal of the Academy of Finance, 8 (2), Fall 2010, 126-139.

Chang, C. Edward and Thomas Krueger, “Do Enhanced Index Funds Live Up to Their Name?" Financial Services Review 19 (2), Summer 2010, 145-162.


Chang, C. Edward and Thomas M. Krueger, “Value Investing Dominance Across Investment Horizons and Market Capitalizations," Journal of Business and Economic Perspectives, 36 (1), Spring/Summer 2010, 53-67.

Chang, C. Edward and H. Doug Witte, “Performance Evaluation of U.S. Socially Responsible Mutual Funds: Revisiting Doing Good and Doing Well," American Journal of Business, 25 (1), Spring 2010, 9-21.

Chang, C. Edward and Walt A. Nelson, “Real Estate Index Funds: Characteristics and Performance Evaluation," Journal of the Academy of Finance, 7 (1&2), Summer & Fall 2009, 119-129.

Chang, C. Edward and George S. Swales, Jr., “Exchange-Traded Funds versus Index Mutual Funds: Characteristics and Performance Comparisons," Central Business Review, 28 (1-2), Winter-Summer 2009, 4-8.

Swales, George S. Jr., G. Michael Swales** and C. Edward Chang, “The IPO Portfolio: An Alternative Approach to Higher Returns?" Journal of the Academy of Finance, 6 (1), Summer 2008, 207-214.

Bowdidge, John S., George S. Swales, Jr. and C. Edward Chang, “Insider Trading: In Search of Definitional Clarification," Journal of the Academy of Finance, 6 (2), Fall 2008, 45-53.

Bowdidge, John S., C. Edward Chang and George S. Swales, Jr., “Forget the Foreign Relations: Consider China Strictly from the Viewpoint of Finance," Journal of the Academy of Finance, 5 (2), Fall 2007, 224-235.

Chang, C. Edward, George S. Swales, Jr. and Tsu-Hong Yen, “Does Index Investing Work Well in Sector Funds?" Journal of the Academy of Finance, 5 (1), Summer 2007, 196-205.

Swales, George S. Jr., C. Edward Chang and John S. Bowdidge, “The Financial Games of the 2008 Olympics," Journal of the Academy of Finance, 5 (1), Summer 2007, 220-230.

Chang, C. Edward, James Philpot* and George S. Swales, Jr., “Do Socially Responsible Mutual Funds Measure Up?" Journal of the Academy of Finance, 5 (2), Fall 2007, 236-245.

Swales, George S. Jr., C. Edward Chang and John S. Bowdidge, “Life Cycle Funds: A ‘Stage in Life’ Investment Alternative," Journal of the Academy of Finance, 5 (2), Fall 2007, 141-150.

Chang, C. Edward, George S. Swales, Jr. and John S. Bowdidge, “Characteristics and Performance of U.S. Bond Funds in Index Investing," Journal of the Academy of Finance, 4 (1), Summer 2006, 129-138.

Chang, C. Edward and George S. Swales, Jr., “Do Enhanced Index Funds Outperform Pure Index Funds?" Journal of the Academy of Finance, 4 (2), Fall 2006, 128-137.

Swales, George S. Jr., John S. Bowdidge and C. Edward Chang, "Emerging Market Stocks: Higher Returns But at What Risk," Journal of the Academy of Finance, 4 (2), Fall 2006, 70-79.

Chang, C. Edward and Robert W. Owens, "Real Estate Investing Through Exchange-Traded Funds," Journal of the Academy of Finance, 3 (3), Winter 2005, 81-90.

Chang, C. Edward and George S. Swales, Jr., "A Comparative Study of Risk and Performance Measures of Closed-End Country Funds and Country-Specific Exchange-Traded Funds," Journal of the Academy of Finance, 3 (3), Winter 2005, 109-116.

Chang, C. Edward and George S. Swales, Jr., "Value versus Growth: Risk and Performance Measures of Benchmark Indexes and Exchange-Traded Funds," Journal of the Academy of Finance, 2 (1), Summer 2004, 108-118.


Swales, George S., Jr. and C. Edward Chang, "Enhancing Portfolio Performance: Evidence on the Use of Exchange-Traded Funds," Journal of the Academy of Finance, 1 (1), Summer 2003, 1-10.

Swales, George S., Jr. and C. Edward Chang, "After Hours Trading: Let the Buyer and Seller Beware," Review of the Academy of Finance, 2 (1), March 2002, 81-88.

Swales, George S., Jr. and C. Edward Chang, "Internet Stock Screening and Valuation: the PSR Approach," Review of the Academy of Finance, 1 (1), March 2001, 86-96.

Chang, C. Edward and George S. Swales, Jr., “A Pedagogical Note on Modified Internal Rate of Return," Financial Practice and Education, Fall/Winter 1999, 132-137.

Chang, C. Edward and Robert W. Owens, “Modifying the Internal Rate of Return Method for Real Estate Investment Selection,” Real Estate Review, 29 (3), Fall 1999, 36-41.

Chang, C. Edward, Iftekhar Hasan and William Curt hunter, “Efficiency of Multinational Banks: An Empirical Investigation," Applied Financial Economics, 8, December 1998, 689-696.

Elayan, Fayez A., Brian A. Maris and C. Edward Chang, "Stock Market Response to the Formation of Foreign Affiliates by U.S. Corporations," Journal of Multinational Financial Management, 5 (1), 1995, 1-12.

Chang, C. Edward, Fayez A. Elayan and Chwo-Ming Joseph Yu, “Foreign Ownership and Cost Efficiency in U.S. Multinational Banking," Studies in Economic Analysis, 15 (2), Spring 1994, 60-85.

Chang, C. Edward, "An Empirical Examination of the Multiproduct Cost Economies in U.S. Multinational Banking," Midwestern Business and Economic Review, Spring 1994, 42-49.

Chang, C. Edward, "Cost Efficiency of U.S. Black-Owned and Minority-Owned Banks," The Mid- Atlantic Journal of Business, 30 (3), December 1994, 253-267.

Chang, C. Edward and Fayez A. Elayan, “Scale and Scope Economies of U.S. Multinational Banks and Foreign-Owned U.S. Banks," Midwestern Journal of Business and Economics, 8 (3), Winter 1994, 1-19.

Chang, C. Edward and Morgan J. Lynge, Jr., “An Empirical Examination of Scale and Scope Economies at U.S. Savings Banks," American Business Review, 12 (2), May 1994, 100-108.

Chang, C. Edward and Morgan J. Lynge, Jr., “The Operating Viability of U.S. Commercial Banks," Central Business Review, 12 (2), Summer 1993, 57-64.

Chang, C. Edward and Morgan J. Lynge, Jr., “Are There Economies of Scope in U.S. Commercial Banking?" American Business Review, 11 (2), June 1993, 61-68.

Chang, C. Edward and C. Pann, “How Does Moral Hazard Affect Deposit Insurance Systems?" (in Chinese) Journal of City Bank of Taipei, 22 (8), August 1991, 22-25.

Chang, C. Edward, “Theories of Management: Retrospect and Prospect," (in Chinese), Journal of City Bank of Taipei, 11 (12), December 1980, 25-30.

BOOK CHAPTERS and PROCEEDINGS Swales, George S., C. Edward Chang and John S. Bowdidge, "Could Some New Excitement be

Brought to the World Because of Taiwan?" in the Midwest Review of International Business Research: Proceedings of the 2005 Academy of International Business Midwest Region Annual Conference, pp. 10-18. Chicago, Illinois: March 16-18, 2005.

Parker, Kristen**, John S. Bowdidge and C. Edward Chang, "Hawala and Terrorist Financing," in the Midwest Review of International Business Research: Proceedings of the 2005 Academy


of International Business Midwest Region Annual Conference, pp. 88-95. Chicago, Illinois: March 16-18, 2005.

Bowdidge, John and C. Edward Chang, "Quick Russian Glance at China and North Korea," in the Midwest Review of International Business Research: Proceedings of the 2004 Academy of International Business Midwest Annual Conference, pp. 8-19. Chicago, Illinois: March 17- 19, 2004.

Swales, George S., Jr. and C. Edward Chang, "The Risk-Adjusted Performance of Mutual Funds: Some Recent Evidence," Midwest Review of Finance and Insurance, 14 (1), Spring 2000, 250-260.

Chang, C. Edward, Iftekhar Hasan and William Curt hunter, “Japanese and U.S. Multinational Banks: A Comparative Analysis," in Chang-Soo Kim, Thomas Liaw and Thomas Chen (ed.), Emerging Markets in Asia, published by St. John's University, 1996.

Chang, C. Edward and Ji-Ren Lee, “Deposit Insurance and The Safety Net," (in Chinese) in the Proceedings of Deposit Insurance Conference, pp. 429-438. Taipei, Taiwan: Central Deposit Insurance Corporation, June 1995.

Chang, C. Edward, Iftekhar Hasan and William Curt hunter, “Ownership Structure, Size and Efficiency: Analysis of U.S. and Foreign Multinational Banks," in TEN BEST PAPERS, Academy of International Business Northeast U.S.A. Regional Meeting, pp. 36-50. Scranton, Pennsylvania, June 2, 1994.

Tang, Ming-Je, C. Edward Chang and Ji-Ren Lee, A Study of Deposit Insurance Systems, (in Chinese) a research report published by the Central Bank of China (Taiwan) on May 20, 1991.

Chang, C. Edward, A Study of the Promotional Strategy of Machine Tool Industry in Taiwan, (in Chinese) ITRI Technical Report R4068-1, Taipei, Taiwan: Industry Technology Research Institute, 1981.

CONFERENCE PRESENTATIONS

Chang, C. Edward and Thomas M. Krueger, “Do Fundamental Index Funds Outperform Traditional Index Funds?” Academy of Finance Meetings, Chicago, Illinois: March 26, 2015.

Chang, C. Edward, Walt A. Nelson, and Stanley R. Adamson, “Target Date Funds: What Are You Really Getting?" Academy of Finance Meetings, Chicago, Illinois: March 26, 2015. Chang, C. Edward and Thomas M. Krueger, “Vice vs. Virtue: Mutual Fund Performance in the United

States,” Academy of Finance Meetings, Chicago, Illinois: March 27, 2014. Krueger, Thomas M. and C. Edward Chang, “How Good Are Consumer Reports'

Recommendations of Mutual Funds?" Academy of Finance Meetings, Chicago, Illinois: March 29, 2012.

Chang, C. Edward, H. Doug Witte, and Y. Jenny Zhang*, “Do Virtue Mutual Funds Pay?" Academy of Finance Meetings, Chicago, Illinois: March 29, 2012.

Chang, C. Edward and H. Doug Witte, “U.S.-based International Equity Index Funds: Performance and Risk During Up and Down Market Conditions," International Academy of Business and Economics Annual Conference, Las Vegas: October 16-19, 2011.

Chang, C. Edward, Walt Nelson, and H. Doug Witte, “Do Green Investment Funds Perform Well?" Academy of Finance Meetings, Chicago, Illinois: March 24, 2011.

Chang, C. Edward, H. Doug Witte, and Tsu-Hong Yen, “Does Index Investing Work in


International Stock Funds?" Academy of Finance Meetings, Chicago, Illinois: March 26, 2010.

Chang, C. Edward and Thomas M. Krueger, “Does Index Investing Work in Bonds?" Academy of Finance Meetings, Chicago, Illinois: March 26, 2010.

Chang, C. Edward and H. Doug Witte, “Performance Evaluation of U.S. Socially Responsible Mutual Funds: Revisiting Doing Good and Doing Well," Academy of Finance Meetings, Chicago, Illinois: March 20, 2009.

Chang, C. Edward and Thomas M. Krueger, “Relative Performance of Investment Styles: Recent Evidence," Academy of Finance Meetings, Chicago, Illinois: March 20, 2009.

Chang, C. Edward and Walt Nelson, “Real Estate Investment Funds: A Comparison of Operating Characteristics, Risk and Performance Measures," Academy of Finance Meetings, Chicago, Illinois: March 20, 2009.

Chang, C. Edward, George S. Swales, Jr. and John S. Bowdidge, “A Fascination of Finance: Keeping Up with the Latest Actions of Warren Buffett," Academy of Finance Meetings, Chicago, Illinois: April 2, 2008.

Swales, George S., C. Edward Chang and John S. Bowdidge, “At Last, It's Time to Clarify the Term "Insider Trading," Academy of Finance Meetings, Chicago, Illinois: April 2, 2008.

Swales, George S., C. Edward Chang and John S. Bowdidge, “Can We Possibly Keep Up With All the Financial News Coming From the People’s Republic of China?" Academy of Finance Meetings, Chicago, Illinois: April 3, 2008.

Chang, C. Edward, George S. Swales, Jr. and John S. Bowdidge, “Sometimes Management Must Deal With a Strike: Here Are Two Well-Documented Examples," Academy of Finance Meetings, Chicago, Illinois: April 3, 2008.

Swales, George S., C. Edward Chang and John S. Bowdidge, “Hugo Chavez of Venezuela Is a Very Busy Man,” Academy of Finance Meetings, Chicago, Illinois: April 3, 2008.

Chang, C. Edward, George S. Swales, Jr. and John S. Bowdidge, “Despite the Significance of China, We Must Not Allow Taiwan and Its Financial Possibilities To Be Ignored," Academy of Finance Meetings, Chicago, Illinois: April 4, 2008.

Chang, C. Edward and George S. Swales, “Exchange-Traded Funds versus Index Mutual Funds: Characteristics and Performance Comparisons," Academy of Finance Meetings, Chicago, Illinois: April 4, 2008.

Bowdidge, John S., C. Edward Chang, George S. Swales, Jr. and John Patton, “Modern Science Is Quickly Becoming the Most Serious Enemy of Finance," Academy of Finance Meetings, Chicago, Illinois, March 28, 2007.

Bowdidge, John S., George S. Swales, Jr., C. Edward Chang, and John Patton, “The Media of the World Took Notice of Ford’s Cutback," Academy of Finance Meetings, Chicago, Illinois, March 28, 2007.

Bowdidge, John S., C. Edward Chang, George S. Swales, Jr. and John Patton, “Forget Foreign Relations. Consider China Strictly from the Viewpoint of Finance," Academy of Finance Meetings, Chicago, Illinois, March 28, 2007.

Bowdidge, John S., C. Edward Chang, George S. Swales, Jr. and John Patton, “The International Press Explains the Seriousness of the Early 2006 Russian-Ukrainian Gas Dispute," Academy of Finance Meetings, Chicago, Illinois, March 28, 2007.


Chang, C. Edward, George S. Swales, Jr. and Tsu-Hong Yen*, “Does Index Investing Work Well in Sector Funds?" Academy of Finance Meetings, Chicago, Illinois, March 29, 2007.

Bowdidge, John S., C. Edward Chang, George S. Swales, Jr. and John Patton, “The Financial Games of the 2008 Olympics," Academy of Finance Meetings, Chicago, Illinois, March 29, 2007.

Chang, C. Edward, James Philpot* and George S. Swales, Jr., “Do Socially Responsible Mutual Funds Measure Up?" Academy of Finance Meetings, Chicago, Illinois, March 29, 2007.

Swales, George S, C. Edward Chang and John S. Bowdidge, "Life Cycle Funds: A ‘Stage in Life’ Investment Alternative," Academy of Finance Meetings, Chicago, Illinois, March 30, 2007.

Bowdidge, John S. and C. Edward Chang, “A Quick Look at the Economy of Israel: A Quiet Topic the World’s Mass Media Usually Skip," Academy of Business Economics Meetings, Chicago, Illinois, March 30, 2007.

Chang, C. Edward and George S. Swales, Jr., “Do Enhanced Index Funds Outperform Pure Index Funds?" Academy of Finance Meetings, Chicago, Illinois, March 17, 2006.

Chang, C. Edward, George S. Swales, Jr. and John S. Bowdidge, “Characteristics and Performance of U.S. Bond Funds in Index Investing," Academy of Finance Meetings, Chicago, Illinois, March 17, 2006.

Swales, George S. Jr., John S. Bowdidge and C. Edward Chang, "Emerging Market Stocks: Higher Returns But at What Risk," Academy of Finance Meetings, Chicago, Illinois, March 16, 2006.

Chang, C. Edward, George S. Swales, Jr. and John S. Bowdidge, "In 2005, China Achieved a Surprise Milestone Regarding the Yuan – Just One Event on Their Exciting Financial/Economic Scene," Academy of Finance Meetings, Chicago, Illinois, March 16, 2006.

Chang, C. Edward and George S. Swales, Jr., "A Comparative Study of Risk and Performance Measures of Closed-End Country Funds and Country-Specific Exchange-Traded Funds," Academy of Finance Meetings, Chicago, Illinois, March 18, 2005.

Chang, C. Edward and Robert W. Owens, "Real Estate Investing Through Exchange-Traded Funds," Academy of Finance Meetings, Chicago, Illinois, March 18, 2005.

Parker, Kristen**, John Bowdidge and C. Edward Chang, "Hawala and Terrorist Financing," Academy of International Business Midwest Annual Conference, Chicago, Illinois, March 17, 2005.

Swales, George S., C. Edward Chang and John S. Bowdidge, "Could Some New Excitement be Brought to the World Because of Taiwan," Academy of International Business Midwest Annual Conference, Chicago, Illinois, March 16, 2005.

Chang, C. Edward and George S. Swales, Jr., "Value versus Growth: Risk and Performance Measures of Benchmark Indexes and Exchange-Traded Funds," Academy of Finance Meetings, Chicago, Illinois, March 18, 2004.

Bowdidge, John and C. Edward Chang, "Quick Russian Glance at China and North Korea," Academy of International Business Midwest Annual Conference, Chicago, Illinois, March 18, 2004.

Chang, C. Edward and George S. Swales, Jr., “Do Country-Specific Exchange-Traded Funds Outperform Closed-End Country Funds?" Financial Management Association Meetings, Denver, Colorado, October 9, 2003.


Swales, George S., Jr. and C. Edward Chang, "Enhancing Portfolio Performance: Evidence on the Use of Exchange Traded Funds," Academy of Finance Meetings, Chicago, Illinois, March 13, 2003.

Swales, George S., Jr. and C. Edward Chang, "After Hours Trading: Let the Buyer and Seller Beware," Academy of Finance Meetings, Chicago, Illinois, February 28, 2002.

Swales, George S., Jr. and C. Edward Chang, "Internet Stock Screening and Valuation: The PSR Approach," Academy of Finance Meetings, Chicago, Illinois, March 9, 2001.

Chang, C. Edward and George S. Swales, Jr., “Do Finance Textbook Authors Agree Among Themselves on Capital Budgeting Decision Rules?" Financial Management Association Meetings, Seattle, Washington, October 28, 2000.

Swales, George S., Jr. and C. Edward Chang, "The Risk-Adjusted Performance of Mutual Funds: Some Recent Evidence," Midwest Academy of Finance and Insurance Meetings, Chicago, Illinois, March 1, 2000.

Chang, C. Edward and George S. Swales, Jr., “A Pedagogical Note on Modified Internal Rate of Return," Financial Management Association Meetings, Honolulu, Hawaii, October 17, 1997.

Chang, C. Edward, Iftekhar Hasan and William Curt hunter, “Japanese and U.S. Multinational Banks: A Comparative Analysis," Atlantic Economic Society Conference, Williamsburg, Virginia, October 10, 1995.

Chang, C. Edward and H. Banerjee. “Does Nationwide Banking Improve Efficiency? Evidence from Foreign-Owned Banks in the U.S.," Southern Finance Association Meetings, Charleston, South Carolina, December 1, 1994.

Chang, C. Edward, Iftekhar Hasan and William Curt hunter, “Efficiency of Multinational Banks," Georgia Productivity Workshop, Athens, Georgia, October 22, 1994.

Chang, C. Edward, Iftekhar Hasan and William Curt hunter, “Efficiency of Multinational Banks: An Empirical Investigation," Atlantic Economic Society Conference, Montreal, Canada, October 9, 1994.

Chang, C. Edward, Iftekhar Hasan and William Curt hunter, “Ownership Structure, Size and Efficiency: Analysis of U.S. and Foreign Multinational Banks," Academy of International Business Northeast USA Regional Meeting, Scranton, Pennsylvania, June 2, 1994.

Chang, C. Edward, Iftekhar Hasan and William Curt hunter, “Efficiency of Multinational Banks: An Empirical Investigation," Financial Management Association Meetings, Toronto, Ontario, Canada, October 14, 1993.

Elayan, Fayez A., Brian A. Maris and C. Edward Chang, "Formation of Foreign Affiliates by U.S. Corporations," Southwestern Finance Association Meetings, New Orleans, Louisiana, March 4, 1993.

Chang, C. Edward and James R. Scott, “An Empirical Analysis of the Multiproduct Cost Economies of U.S. Minority-Owned Banks," Financial Management Association Meetings, San Francisco, California, October 24, 1992.

Chang, C. Edward and Morgan J. Lynge, Jr., “Are U.S. Savings Banks Viable?" Midwest Finance Association Meetings, Chicago, Illinois, March 26, 1992.

Chang, C. Edward and Fayez A. Elayan, “A Comparative Cost Study of U.S. Multinational Banks and Foreign Banks' U.S. Subsidiary Banks, 1986-1989," Financial Management Association Meetings, Chicago, Illinois, October 11, 1991.


Chang, C. Edward and Morgan J. Lynge, Jr., “A New Look at the Existence of Cost Economies in U.S. Commercial Banking," Midwest Finance Association Meetings, St. Louis, Missouri, April 4, 1991.

Chang, C. Edward and Morgan J. Lynge, Jr., “New Evidence of Economies of Scope in U.S. Commercial Banking," Southwestern Finance Association Meetings, Houston, Texas, March 14, 1991.

UNIVERSITY AND COMMUNITY SERVICE HIGHLIGHTS

• Member of committees at University, College and Departmental levels, including Public Affairs Conference Advisory Committee, 2009-2010; University Scholarship Committee, 2003-2010; Committee on General Education and Interdisciplinary Programs, 2010-2013; and Foundation Awards Committee, 2012-2015

• Sole Faculty Advisor to Taiwanese Student Association, Missouri State University • Member of Phi Eta Sigma Scholarship Panel, 2011-2012 • Program Committee member of Financial Management Association International

Conference, 2011; and MBAA International Conference, 2012-2014 • Editorial Review Board member of Journal of the Academy of Finance, 2009-2011; and

Journal of Finance Issues, 2012-2015 • Board Director of Educational Community Credit Union, Springfield, Missouri, 2005-2014

Matrices + Tables Page 2

Applicant: C. Edward Chang

Tenure Application: No

Promotion Application: No

PSIP Application: Yes

Workload

Fall 2002 - Fall 2007

12 hours per academic semester (9 hours teaching with 2 course preparations; 3 hours performing

research); up to 1 course overload. Mostly undergraduate teaching assignments. The course

FGB584/684 or FIN582/682 combines both graduate and undergraduate students.

Spring 2008

Sabbatical

Fall 2008 - Fall 2015



FIN589/689 combines both graduate and undergraduate students. FIN682 is for EMBA cohorts.

Spring 2016

Sabbatical

Fall 2016 - present



FIN589/689 combines both graduate and undergraduate students. FIN682 is for EMBA cohorts.







Research Matrix

Dimension How is this dimension demonstrated Notes or location of supporting documentation Quantity of publications:

Tenure: Five or more Promotion to

Associate Professor: Six or more

Promotion to Professor: Six or more

in rank of Associate Professor

(III.D.3, IV.C.2)

Not applicable for PSIP application.


Promotion to Associate Professor: At

least

one sole-authored and one co-

authored

piece among the publications.

(III.D.3)



Contribution to discipline or society

(III.D.3) (qualitative and/or

quantitative measures)

My performance is well beyond the departmental criteria in research that we expect to publish 3 refereed journal

articles in a period of five years. I have published 33 papers in 15 refereed journals and 3 papers in conference

proceedings, and made 40 presentations at conferences during the past 14 years since promotion to full professor.

My research accomplishments have maintained quantity over time and gained significant quality since 2010. My

coauthors and I were able to publish 16 articles in well-regarded journals in the past 6 years.

Please see Supporting Materials S1-S8 for acceptance rates of

refereed journals from Cabell's and citations of refereed journal

articles from Google Scholar.

For tenure: Business Law Faculty - At

least one Law Review Article (III.D.3)



For tenure: Non-LAW - at least one

quality

publication (acceptance rate below

20%) (III.D.3)



Other intellectual contributions and

scholarly activities (III.D.3)

Received the COB "Dean's Research Scholar Award" for 2013 and 2014. Awarded the Daisy Portenier Loucks

Research Fellowship, 2014-2015. Two of my conference presentations won the Best-in-Track Award at MBAA

International Annual Meetings in 2012 and 2014.

Please see Research Vitae page 1.

Impact of Research

My research is published in quality high-impact journals such as Journal of Financial Planning, Managerial Finance,

Journal of Investing, and Financial Services Review. My work has received numerous citations and Money

Magazine's attention.

Please see Supporting Materials S1-S8 for acceptance rates of

refereed journals from Cabell's and citations of refereed journal

articles from Google Scholar.

Mentoring junior faculty members

and graduate students

In my attached Research Vitae, you can find I was able to work with three junior faculty members and two graduate

students in joint publications and conference presentations. That is rather unique in finance departments without

doctoral programs.

At College of Business (COB), graduate students need only take

courses and not write graduate theses. Since COB Advisement

Center takes care of student advising, faculty members have not

had many opportunities of mentoring students.

Bolded references are to the FGB Guidelines for Tenure, Promotion and Annual Review, Effective June 1, 2015.






Teaching Matrix

Dimension How is this dimension demonstrated Notes or location of supporting documentation

Positive student evaluations are required.

Student evaluation numerical average

scores shall count for no more than 50%

of the evaluation of teaching quality and

effectiveness. Summary of teaching

evaluations (numerical and

representative summary of comments)

(III.D.2)

I have taught all levels of undergraduate, MBA and EMBA students and have consistently received

high student evaluations and positive student comments for all my courses.

Please see Supporting Materials S11-S12 for student

evaluations by course (2009-2015) and student comments

excerpts from course evaluation.

Peer and Department Head observations.

(III.D.2)

Dr. Kent Ragan, FGB Department Head, team taught FIN380 iTune sections with me for several years.

He has first-hand observations and has provided annual performance reviews on Supporting Materials

pages S13-S18.

Please see Supporting Materials S13-S18 for annual

performance reviews by Department Head.

Other measures of teaching effectiveness

(Appendix I, III.D.2)

I have proven myself to be an effective teacher evidenced by the university and college teaching awards

I received and recognitions of teaching excellence from student and professional organizations on

campus.

Please see Supporting Materials S9-S10 for my teaching

pholosophy and evidence of effective teaching.

Mentoring students

At College of Business (COB), we have many international students, mainly from China, that are

interested in graduate study. I have written hundreds of letters of reference and recommendation for

dozens of undergraduate and graduate students in the past 8 years. There were also many one-on-one

consultation meetings. I take pleasure in helping students fulfill their dreams.

At College of Business (COB), graduate students need only

take courses and not write graduate theses. Since COB

Advisement Center takes care of student advising, faculty

members have not had many opportunities of mentoring

students.







Service Matrix (2010 - present)

Dimension

How is this dimension demonstrated

Notes or location of

supporting

documentation

FGB Department Service (III.D.4)

Member, Finance and General Business Department Merit Committee, 2009-2010.

Member, Finance and General Business Department TPM Guidelines Committee, 2009-present.

Co-chair, Finance and General Business Department Promotion Committee, 2016.

Member, Finance and General Business Department Tenure & Promotion Committee, 2014, 2015.

Member, Finance and General Business Department Promotion & Reappointments Committee, 2011, 2012.

Member, Finance and General Business Department Scholarships Committee, 2013-present.

Mentoring junior faculty, 2010-present.

Participate in departmental recruiting efforts (interviews, meals, and attending presentations) of law and finance

faculty candidates, continuouely.

Help other faculty members proctor their exams, 2011-2013.

Please see Supporting

Materials S13-S18 for

annual performance

reviews by Department

Head.

COB Service (III.D.4)

Member, College Library Committee, 2005-present.

Chair, College of Business Faculty Selection and Awards Committee, 2012-2013.

Member, College of Business Faculty Selection and Awards Committee, 2013-2043.

Member, College of Business Strategic Planning Committee (Academic Profile Group), 2015.

EMBA Program Support, 2008-present.



annual performance


Head.

University Service (III.D.4)

Member, Public Affairs Conference Advisory Committee, 2009-2010.

Member, University Scholarship Committee, 2003-2010.

Member, Foundation Awards Committee, 2012-2015.

Member, Committee on General Education and Interdisciplinary Program (CGEIP), 2010-2013.

Member, Faculty Senate Academic Relations Committee, 2016-2017.

Sole faculty advisor to a student organization, Taiwanese Student Association, continuously.

Serve on Phi Eta Sigma Scholarship Panel, 2011-2012.



annual performance


Head.


Dimension

How is this dimension demonstrated

Notes or location of

supporting

documentation

Service to the Profession (III.D.4)

Reviewer, Journal of the Academy of Finance, 2010.

Reviewer, Journal of Finance Issues, 2011-2015.

Member, Program Committee, Financial Management Association Annual Meetings, 2011.

Member, Program Committee, MBAA International Annual Meetings, 2011-2015.

Ad Hoc Reviewer, Management Research Review, 2014.

External reviewer on a promotion candidate at Boise State University, 2009.

Reviewer, helps edit Alan C. Shapiro's Foundations of Multinational Financial Management, 6th edition, 2009.



annual performance


Head.

Community/Public Service (III.D.4)

Serves on the board as a director at Educational Community Credit Union, 2011-2014.

Participation in United Way Campaign, continuously.

Volunteer, Central High School. 2010-2013.

Volunteer, Springfield-Greene County Public Libraries. 2010-present.



annual performance


Head.

Cooperation with reasonable requests

regarding reports, meetings, annual

performance reviews, and updating

Digital Measures. (III.D.4)

I attend all departmental and college faculty meetings, including FGB Advisory Board Committee meetings and

COB Research Colloquium, 2012-2014.

I frequently attend commencement in full regalia and recruit students at Showcase and the Majors Fair.

I update Digital Measures at least once per year and always as directed near evaluation time. I always submit

my evaluation materials before the deadline.

I attend all EMBA/AKP meetings and ceremonies and publisher's demo.



annual performance


Head.

Cooperation with reasonable requests

regarding reports, meetings, annual

performance reviews, and updating

Digital Measures. (III.D.4)

I attend all departmental and college faculty meetings, including FGB Advisory Board Committee meetings and

COB Research Colloquium, 2012-2014.

I frequently attend commencement in full regalia and recruit students at Showcase and the Majors Fair.

I update Digital Measures at least once per year and always as directed near evaluation time. I always submit

my evaluation materials before the deadline.

I attend all EMBA/AKP meetings and ceremonies and publisher's demo.



annual performance


Head.

Impact of Service

Speaker, Alpha Kappa Psi, 2014

Several interviews with Delta Sigma Pi's new members in spring and fall semesters.

Help EMBA and undergraduate students in and out of class.

Donate books to the Meyer library and Springfield-Greene County Public Libraries.


Documents

Research Vitae - Missouri State University Vitae Page 1 of 9 C. Edward Chang, ... HONORS AND AWARDS • Daisy Portenier Loucks Research Fellowship endowed chair professor, 2014-2015,