Chang, Millicent

Overview

Millicent Chang is a Professor in the School of Accounting, Economics and Finance at the University of Wollongong. She teaches at the undergraduate and postgraduate levels in corporate finance and valuation and is involved in supervision of research students in the Honours and PhD programs.

Millicent's research spans the accounting and finance areas and her current interests include corporate disclosure, insider trading and environmental finance. Her work has appeared in leading academic journals including Journal of Corporate Finance, Journal of Business Ethics, Pacific Basin Finance Journal, and Accounting & Finance. She is an Associate Editor in the Finance section at Australian Journal of Management. She has previously received ARC Discovery funding for a project on late disclosure of trading by corporate insiders.

Millicent is a past Australian President of the Accounting and Finance Association of Australia and New Zealand (AFAANZ). Prior to joining UoW, she was an Associate Professor at the UWA Business School.

Research Areas

Research Overview

Millicent's research interests include:
- Corporate disclosure
- Insider trading
- Environmental finance
- Managerial incentives
- Accounting for Extractives Industry

Geographic Focus

Asia Pacific Region Transnational Region

Member Of

Selected Publications

Journal Article

Year	Title
2019	Responsible science: Celebrating the 50-year legacy of Ball and Brown (1968) using a registration-based framework Published In Pacific-Basin Finance Journal Volume 56 Pages 129 - 150 ISSN 0927-538X Altmetric
2019	The enduring and evolving influence of Ball and Brown (1968) Published In Australian Journal of Management Volume 44 Pages 153 - 159 ISSN 0312-8962 Altmetric
2019	The role of credibility in the relation between management forecasts and analyst forecasts in Japan Published In Pacific-Basin Finance Journal Volume 55 Pages 29 - 45 ISSN 0927-538X Altmetric
2018	How directors trade and learn during takeovers Published In Pacific-Basin Finance Journal Volume 51 Pages 184 - 197 ISSN 0927-538X Altmetric
2017	A review of research on regulation changes in the Asia-Pacific region Published In Accounting and Finance Volume 58 Pages 635 - 667 ISSN 0810-5391 Altmetric
2017	Board Gender Diversity and Corporate Response to Sustainability Initiatives: Evidence from the Carbon Disclosure Project Published In Journal of Business Ethics Volume 142 Pages 369 - 383 ISSN 0167-4544 Altmetric
2017	Does director trading change the information environment? Published In Australian Journal of Management Volume 42 Pages 205 - 229 ISSN 0312-8962 Altmetric
2016	Late Disclosure of Insider Trades: Who Does It and Why? Published In Journal of Business Ethics Volume 133 Pages 519 - 531 ISSN 0167-4544 Altmetric
2016	The effect of voluntary versus mandatory adoption of trading policies on the returns to insider trades Published In Pacific-Basin Finance Journal Volume 38 Pages 76 - 87 ISSN 0927-538X Altmetric
2015	Delayed disclosure of insider trades: Incentives for and indicators of future performance? Published In Pacific-Basin Finance Journal Volume 35 Pages 182 - 197 ISSN 0927-538X Altmetric
2015	Financial distress: Lifecycle and corporate restructuring Published In Journal of Corporate Finance Volume 33 Pages 19 - 33 ISSN 0929-1199 Altmetric
2014	Disclosure incentives, mandatory standards and firm communication in the IFRS adoption setting Published In Australian Journal of Management Volume 39 Pages 265 - 291 ISSN 0312-8962 Altmetric
2014	How does investor relations disclosure affect analysts' forecasts? Published In Accounting and Finance Volume 54 Pages 365 - 391 ISSN 0810-5391 Altmetric
2012	The effect of cross-listing on insider trading returns Published In Accounting and Finance Volume 52 Pages 723 - 741 ISSN 0810-5391 Altmetric

Conference Paper

Year	Title
2016	The Informativeness of Substantial Shareholder Trading in the Lead up to a Takeover Bid Published In The 28th AsianFA Conference 2016 Pages 1 - 39
2014	Unreported Insider Trades: Indicators Of Future Earnings And Forecast Error Published In Annual Congress of the European Accounting Association, 2014 Pages 133 - 133
2014	Women on Boards and Corporate Response to Sustainability Initiatives: Evidence from the Carbon Disclosure Project Published In 2014 International Conference on Economics, Society and Management - ICESM 2014 Pages 8 - 8

Other Research Activities

Data Infrastructure in SAEF - MEG 2018 Chief Investigator 2018 - 2020

Advisees

Graduate Advising Relationship

Degree	Research Title	Advisee
Doctor of Philosophy	Evaluating the efficacy of a bilingual Peer Assisted Learning Program for Chinese Students in a Higher Education Context
Doctor of Philosophy (Integrated)	Gender diversity, executive compensation, and firm performance
Doctor of Philosophy	Ownership of lender and borrower, firm earnings management, and bank lending decisions: Evidence from China	Cui, Huanyu
Doctor of Philosophy (Integrated)	Macroeconomic Policies and Stock Market Crash in China	Dong, Olivia
Doctor of Philosophy	Exploring the effects of climate change disclosure on stock markets	Ding, Dong
Doctor of Philosophy	Asset Impairment: Evidence from Australian Firms	Georges, Maxeem
Doctor of Philosophy	The role of banks in the Chinese capital market.	Pan, Nengqi
Doctor of Philosophy	How Does Policy Uncertainty Affect Corporate Philanthropy in the Chinese Market?	Zhang, Jiawei
Doctor of Philosophy	An Australian investigation on star ratings and mutual fund performance	Nguyen, Ha
Doctor of Philosophy	ESG and Firm Performance	Khan, Vina Javed
Doctor of Philosophy (Integrated)	The effect of CSR in market valuation of mining sector firms in emerging markets	Munkuli, Bongani

Orcid Id

http://orcid.org/0000-0002-6954-9013 (confirmed)

Research Areas

Research Overview

Millicent's research interests include:
- Corporate disclosure
- Insider trading
- Environmental finance
- Managerial incentives
- Accounting for Extractives Industry

Geographic Focus

Asia Pacific Region Transnational Region

Member Of

Selected Publications

Journal Article

Year	Title
2019	Responsible science: Celebrating the 50-year legacy of Ball and Brown (1968) using a registration-based framework Published In Pacific-Basin Finance Journal Volume 56 Pages 129 - 150 ISSN 0927-538X Altmetric
2019	The enduring and evolving influence of Ball and Brown (1968) Published In Australian Journal of Management Volume 44 Pages 153 - 159 ISSN 0312-8962 Altmetric
2019	The role of credibility in the relation between management forecasts and analyst forecasts in Japan Published In Pacific-Basin Finance Journal Volume 55 Pages 29 - 45 ISSN 0927-538X Altmetric
2018	How directors trade and learn during takeovers Published In Pacific-Basin Finance Journal Volume 51 Pages 184 - 197 ISSN 0927-538X Altmetric
2017	A review of research on regulation changes in the Asia-Pacific region Published In Accounting and Finance Volume 58 Pages 635 - 667 ISSN 0810-5391 Altmetric
2017	Board Gender Diversity and Corporate Response to Sustainability Initiatives: Evidence from the Carbon Disclosure Project Published In Journal of Business Ethics Volume 142 Pages 369 - 383 ISSN 0167-4544 Altmetric
2017	Does director trading change the information environment? Published In Australian Journal of Management Volume 42 Pages 205 - 229 ISSN 0312-8962 Altmetric
2016	Late Disclosure of Insider Trades: Who Does It and Why? Published In Journal of Business Ethics Volume 133 Pages 519 - 531 ISSN 0167-4544 Altmetric
2016	The effect of voluntary versus mandatory adoption of trading policies on the returns to insider trades Published In Pacific-Basin Finance Journal Volume 38 Pages 76 - 87 ISSN 0927-538X Altmetric
2015	Delayed disclosure of insider trades: Incentives for and indicators of future performance? Published In Pacific-Basin Finance Journal Volume 35 Pages 182 - 197 ISSN 0927-538X Altmetric
2015	Financial distress: Lifecycle and corporate restructuring Published In Journal of Corporate Finance Volume 33 Pages 19 - 33 ISSN 0929-1199 Altmetric
2014	Disclosure incentives, mandatory standards and firm communication in the IFRS adoption setting Published In Australian Journal of Management Volume 39 Pages 265 - 291 ISSN 0312-8962 Altmetric
2014	How does investor relations disclosure affect analysts' forecasts? Published In Accounting and Finance Volume 54 Pages 365 - 391 ISSN 0810-5391 Altmetric
2012	The effect of cross-listing on insider trading returns Published In Accounting and Finance Volume 52 Pages 723 - 741 ISSN 0810-5391 Altmetric

Conference Paper

Year	Title
2016	The Informativeness of Substantial Shareholder Trading in the Lead up to a Takeover Bid Published In The 28th AsianFA Conference 2016 Pages 1 - 39
2014	Unreported Insider Trades: Indicators Of Future Earnings And Forecast Error Published In Annual Congress of the European Accounting Association, 2014 Pages 133 - 133
2014	Women on Boards and Corporate Response to Sustainability Initiatives: Evidence from the Carbon Disclosure Project Published In 2014 International Conference on Economics, Society and Management - ICESM 2014 Pages 8 - 8

Other Research Activities

Data Infrastructure in SAEF - MEG 2018 Chief Investigator 2018 - 2020

Advisees

Graduate Advising Relationship

Degree	Research Title	Advisee
Doctor of Philosophy	Evaluating the efficacy of a bilingual Peer Assisted Learning Program for Chinese Students in a Higher Education Context
Doctor of Philosophy (Integrated)	Gender diversity, executive compensation, and firm performance
Doctor of Philosophy	Ownership of lender and borrower, firm earnings management, and bank lending decisions: Evidence from China	Cui, Huanyu
Doctor of Philosophy (Integrated)	Macroeconomic Policies and Stock Market Crash in China	Dong, Olivia
Doctor of Philosophy	Exploring the effects of climate change disclosure on stock markets	Ding, Dong
Doctor of Philosophy	Asset Impairment: Evidence from Australian Firms	Georges, Maxeem
Doctor of Philosophy	The role of banks in the Chinese capital market.	Pan, Nengqi
Doctor of Philosophy	How Does Policy Uncertainty Affect Corporate Philanthropy in the Chinese Market?	Zhang, Jiawei
Doctor of Philosophy	An Australian investigation on star ratings and mutual fund performance	Nguyen, Ha
Doctor of Philosophy	ESG and Firm Performance	Khan, Vina Javed
Doctor of Philosophy (Integrated)	The effect of CSR in market valuation of mining sector firms in emerging markets	Munkuli, Bongani

Orcid Id

http://orcid.org/0000-0002-6954-9013 (confirmed)

Chang, Millicent Dr

Professor & Discipline Leader - Finance

Overview

Overview

Research Areas

Research Overview

Geographic Focus

Affiliation

Member Of

Publications

Selected Publications

Journal Article

Conference Paper

Funding

Other Research Activities

Supervision

Advisees

Graduate Advising Relationship

Identity

Orcid Id

Overview

Research Areas

Research Overview

Geographic Focus

Affiliation

Member Of

Publications

Selected Publications

Journal Article

Conference Paper

Funding

Other Research Activities

Supervision

Advisees

Graduate Advising Relationship

Identity

Orcid Id

Visualisations

Research Areas

Geographic Focus