NAME
Ha-Chin Yi, PhD, FRM, PRM

TITLE
Professor of Finance

DEPARTMENT
Finance and Economics Department

RANK/TENURE STATUS
Professor / Tenured

UNIVERSITY EXPERIENCE
Tom & Jo Roddy Professor of Finance                                     2015-2019
Professor                     Texas State University                          2016-present
Associate Professor   Texas State University                          2008-2016
Visiting Professor       Kyung Hee University, Seoul, Korea   2009-2010
Assistant Professor    Texas State University                          2002-2008
Research Assistant     University of Kentucky                         1998-2002

EDUCATION
Ph.D.,    University of Kentucky, Lexington, KY,            2002
M.B.A.,  University of South Carolina, Columbia, SC,   1998
B.S.B.,   University of Minnesota, Minneapolis, MN,    1996
B.E.,       Soong Sil University, Seoul, Korea,                   1991

OTHER FORMAL EDUCATION PROGRAMS/CERTIFICATION HELD
Professional Risk Manager (PRM) designation, 2002
Financial Risk Manager (FRM) designation, 2001

CLASSES TAUGHT SINCE SEPTEMBER 1, 2002
Introductory Corporate Finance
Intermediate Corporate Finance
Investments
International Finance
Graduate Corporate Finance
Graduate Investments
Graduate International Finance
Graduate Portfolio Theory

Statement of Research and Scholarship
During my Ph.D program years at University of Kentucky and since I joined McCoy College of Business Administration in 2002, I have published a series of referred journal articles in the area of finance, real estate finance, international finance, finance education, and marketing. One IPO article was awarded by the Journal of Financial Research as the “Outstanding Article” in 2001, and this article has been downloaded over 1,700 from the Social Science Research Network (SSRN). Another article was named as “Outstanding Paper” by Samsung Securities Co. Ltd. at the 6th International Conference on Asia-Pacific Financial Markets in 2011. Recently, I co-authored the article titled with “The Determinants of Bank Loan Recovery Rates” that just appeared in 2012 as a lead article in a top banking journal, Journal of Banking and Finance. The paper titled with “Finance, Investment, and Investment Performance: Evidence from the REIT Sector “ was invited for research seminar by Cambridge University in U.K. and won $12,000 research grant funded by Real Estate Research Institute. This paper was published in the leading real estate finance/economics journal, Real Estate Economics, and later abstracted in Pension Real Estate Association (PREA) Research Review. I was a recipient of the Woods Research Award by McCoy College in 2007-2008. I was also either runner-up or dean nominee for Presidential Awards for Excellence in Scholarly/Creative Activities for 2005, 2007, 2008, 2009, 2010, and 2012. Numerous presentations have been given in national and international conferences and numerous discussions were done to review manuscripts presented in those conferences. I have actively served in reviewing academic journal articles. I have been working with co-authors who have been producing quality research works in the area of real estate finance, banking and international finance in research one universities.

Statement of Teaching
Since 2002 when I joined McCoy College, I have repeatedly taught finance courses covering eight different finance subjects. Most of these courses are corporate finance offered to both undergraduate and graduate programs. Recently, I have been exploring into teaching investments and international finance. Student evaluations on my teaching have been positive with top ratings. Some of their comments are copied below:

• Very appreciative to his contribution to my academic experience here at Texas State.
• For his genuine spirit and desire for his students to understand finance, he is approachable, professional, provided well rounded classes, kept up with current events. Very enjoyable.
• My diploma will mean so much more because of what I learned in this class.
• I greatly appreciate everything you did for my education inside and outside the classroom.
• This class has been such a joy because learning from Dr. Yi has been remarkable.
• Dr. Yi has been one of the best professors I have had at Texas State.
• You are not just a professor; you are a motivator as well.
• I feel like this was my most influential class, and possibly one of the top classes that will help me out in life.
• An engaging and enthusiastic instructor who makes the material interesting and informative.
• You inspired me to take my career in finance to another level.

SELECTIVE LIST OF ARTICLES PUBLISHED
Refereed Journal Articles (Selected)

“The Impact of Corporate Ethical Standards on the Liquidity of non-U.S. Stocks: An Examination of the Chinese Melamine Scandal”
Teressa Elliott, Jang-Chul Kim, and Ha-Chin Yi,  Journal of Economics and Finance, 2024

“Market Share, Investor Horizon, and Stock Crash Risk”
Thanh Ngo, Jurica Susnjara, and Ha-Chin Yi,  Journal of Corporate Accounting & Finance, 2024

“Liquidity Difference between Non-U.S. and U.S. IPOs on the NYSE Listings”
Jang-Chul Kim, Kaun Y. Lee, and Ha-Chin Yi, Review of Quantitative Finance and Accounting, 2024

“Managerial Risk-Taking Incentives and Debt Diversity: Evidence from FAS 123R”
Daewoung Choi, Jinsook Lee, and Ha-Chin Yi, Finance Research Letters, 2023,

“Is Foreign Exchange Risk Priced in Bank Loan Spreads?”
Young S Kim, Junyoup Lee, and Ha-Chin Yi, Review of Quantitative Finance and Accounting, 2021, 57: 1061- 1092

“Vice or Virtue? The Impact of Earnings Management on Bank Loan Agreements”
Yura Kim, Young S Kim and Ha-Chin Yi, International Review of Economics & Finance, 2021, 73: 303 – 324.

“Informed Equity Ownership and Bank Loan Contracting”
Kiyoung Chang, Ying Li, and Ha-Chin Yi, Journal of Business Finance & Accounting, 2021, 48: 1368 – 1403.

“Does Geographic Proximity Change the Passiveness of Equity Ownership by Bank Trust?”
Kiyoung Chang, Ying Li, and Ha-Chin Yi, International Review of Finance, 2020, Vo. 20, Iss. 1, 3 – 43.

“Re-visiting Bookbuilding versus Auction IPOs: A Perspective of Informationally Efficient Prices”
Junyoup Lee and Hyeongsup Shim, and Ha-Chin Yi, Journal of Financial Research, 2019, Vol. 42, pp. 491 – 523.

“Are More Corporate Social Investments Better? Evidence of Non-Linearity Effect on Costs of U.S. Bank Loans,”
Sung C. Bae, Kiyoung Chang, and Ha-Chin Yi, Global Finance Journal 2018, 38, 82 – 96.

“Corporate Social Responsibility, Credit Rating, and Private Debt Contracting: New Evidence from Syndicated Loan Market,”
Sung C. Bae, Kiyoung Chang, and Ha-Chin Yi, Review of Quantitative Finance and Accounting 2018,  50, 261-299.

“Do Target Date Mutual Fund Meet Their Targets?”
William F. Johnson and Ha-Chin Yi, Journal of Asset Management 2017, 18, 566-579.

“Does National Culture Influence on the Firm’s Choice of Debt Maturity?”
Kiyoung Chang, Jung Bum Wee, and Ha-Chin Yi, Asia-Pacific Journal of Financial Studies, 2012, Vol. 41, No. 4, pp. 424-457.

“The Determinants of Bank Loan Recovery Rates,”
Hinh Khieu, Donald J. Mullineaux, and Ha-Chin Yi, Journal of Banking and Finance, 2012, Vol. 36, Iss. 4, pp. 923 – 933. (lead article)

“On Demand: Cross-Country Evidence from Commercial Real Estate Asset Markets,”
Steven H. Ott, Timothy J. Riddiough, Ha-Chin Yi, and Jiro Yoshida, International Real Estate Review, 2008, Vol.11, No. 1, pp. 1 – 44. (lead article)

“A Comparison of Syndicated Loan Pricing at Investment and Commercial Banks,”
Donald J. Mullineaux, Maretno Harjoto, and Ha-Chin Yi, Financial Management, 2006, Volume 35, Issue 4, pp. 49 – 70.

“The Informational Role of Bank Loan Ratings,”
Donald J. Mullineaux and Ha-Chin Yi, Journal of Financial Research 2006, Volume XXIX, Number 4, pp. 481 – 501.

“Finance, Investment, and Investment Performance: Evidence from the REIT Sector,”
Steven H. Ott, Timothy J. Riddiough, and Ha-Chin Yi, Real Estate Economics, 2005, Volume 33, Issue 1, pp. 203-235.

“Venture Capital and IPO Lockup Expiration: An Empirical Analysis,”
Daniel J. Bradley, Bradford D. Jordan,Ha-Chin Yi, and Ivan C. Roten, Journal of Financial Research, 2001, Vol. XXIV, No. 4, pp. 465 – 493. (The Journal’s Outstanding Article Award in 2001)

“Real Options and Developments: A Model of Regional Supply and Demand,”
Steven H. Ott and Ha-Chin Yi, Real Estate Finance, Spring 2001, Vol. 18, No. 1, pp. 47-56.

UNIVERSITY AND PROFESSIONAL AWARDS/HONORS
“Outstanding Paper” by Samsung Securities Co. Ltd. at the 6th International Conference on Asia-Pacific Financial Markets in 2011
Presidential Award for Excellence in Scholarly/Creative Activities (Runner Up), Texas State University-San Marcos, 2005, 2007, 2008, 2009
Journal Financial Research Outstanding Article Award, 2002
Real Estate Research Institute (RERI) Research Grant, Real Estate Research Institute, 2000

PROFESSIONAL
Chartered Financial Analyst (CFA) Level I and II completed.
Financial Risk Manager (FRM)
Professional Risk Manager (PRM)