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Associate Professor Kelvin Tan
Associate Professor

Kelvin Tan

Email: 
Phone: 
+61 7 334 68051

Overview

Background

Dr Tan is an Associate Professor in Finance at the UQ Business School.

Dr Tan has earned a reputation as a researcher with expertise in capital structure and econometrics. His work has been published in leading academic and practitioner journals, such as Organization Science (Financial Times Top-50 Journal list, and UTD-24), Journal of Corporate Finance, Journal of Financial Intermediation, Journal of Banking and Finance, and Nature Profolio's Scientific Reports. Five of his papers have also been named as the Best Papers at the following five conferences: (1) the Asian Finance Association Conference, (2) the European Real Estate Society Conference, (3) the Western Risk and Insurance Conference; (4) the 6th Behavioural Finance Conference; and (5) the 4th International Conferences on Advances in Business & Law. In addition, he was recently awarded the 2016 Early Career Researcher Excellence in Research Award by the UQ Faculty of Business, Economics and Law, and the 2017 Award for Excellence in Research by the UQ Business School.

Dr Tan teaches FINM3403 International Financial Management and FINM7402 Corporate Finance at UQ Business School, and was recently awarded the Award for Excellence in Undergraduate Teaching in 2013 and the Commendation for Postgraduate Teaching in 2017. Besides being an inspiring teaching instructor, Dr Tan is also a great research mentor for junior faculty and Ph.D. students. Dr Tan is particularly proud of all of his Ph.D. students, because all of them had at least one chapter of their theses published in an A* journal (ABDC ranked) and/or received at least a research award before their Ph.D. graduation. In addition, his current first-year PhD students have also been awarded a few numerous best paper awards at various prestigious international conferences. In recognition of his contribution to research supervision, he was awarded two research supervision awards in 2020: (1) the UQ Business School Award for Excellence in PhD Supervision; and (2) the Faculty of Business, Economics and Law (BEL) Award for Excellence in Higher Degree Research (HDR) Supervision.

His research has been featured in UQ News and over 100 media outlets across the globe, such as Sydney Morning Herald, The Age, 7News, ABC Radio, Yahoo News, International Business Times, MedicalXpress etc. As of 2022 June, his research was ranked in the Top 0.2% of all research outputs (21,383,946) ever tracked by Altmetric. In recognition of his contribution to cross-disciplinary research, he was awarded the Cross-Discipline Research Award by the UQ Business School in 2022.

In terms of service and engagement within the UQ Business School (UQBS), Dr Tan is the Honours Program Leader, who also sits on the UQBS Research Committee and UQBS Education Committee. Dr Tan was a Postgraduate Coordinator for the finance Ph.D. program between 2017 and 2020. Outside UQBS, Dr Tan serves as a Vice President (membership) and a board member for the Asian Finance Association, which is one of the top finance associations in Asia. Dr Tan is currently serving as a Deputy Editor at the Accounting and Finance Journal (ABDC "A" ranked Journal) and a Guest Editor for Pacific-Basin Finance Journal (A) and Accounting and Finance (A). Dr Tan also served as an Associate Editor at the Accounting Research Journal between 2018 and 2021.

His research interests focus on corporate finance, capital structure, and labor economics.

Availability

Associate Professor Kelvin Tan is:
Available for supervision
Media expert

Qualifications

  • Bachelor (Honours) of Commerce, The University of Queensland
  • Doctor of Philosophy, The University of Queensland

Research interests

  • Corporate Finance, Capital Structure, Debt Financing, Climate Finance, Labor Economics

Research impacts

Dr Tan's work has had a substantial impact beyond academic philosophy through media and the finance industry. For instance, his 2016 ‘A*’ publication in the Journal of Corporate Finance attracted some media attention. It was covered in the London School of Economics (LSE) Business Review (UK) on 3 February 2016 with the following headline: “Overconfident CEOs Prefer Short-term Debt”. Multiple of his papers have also been featured in The FinReg blog by the Duke Financial Economics Center.

My work also has had an impact on the finance industry. For example, in conjunction with the Australian Corporate Treasury Association (AFTA), he conducted a survey of CFOs’ corporate capital structure decisions in Australia and New Zealand. This project has produced not only an ‘A’ journal publication but also a practitioner report that was distributed to the FTA’s members, who typically hold senior finance positions. Furthermore, the findings from the survey were the subject of a panel discussion at the 2014 FTA Congress. As a result of this project, the FTA’s members can benchmark their treasury performance and corporate decisions to their peers and improve their current practices.

His recent research has been featured in UQ News and over 100 media outlets across the globe, such as Sydney Morning Herald, The Age, 7News, ABC Radio, Yahoo News, International Business Times, MedicalXpress etc. As of 2022 June, his research was ranked in the Top 0.2% of all research outputs (21,383,946) ever tracked by Altmetric.

Works

Search Professor Kelvin Tan’s works on UQ eSpace

26 works between 2006 and 2024

1 - 20 of 26 works

Featured

2019

Journal Article

Labor unions and corporate financial leverage: the bargaining device versus crowding-out hypotheses

Woods, Keegan, Tan, Kelvin Jui Keng and Faff, Robert (2019). Labor unions and corporate financial leverage: the bargaining device versus crowding-out hypotheses. Journal of Financial Intermediation, 37, 28-44. doi: 10.1016/j.jfi.2017.05.005

Labor unions and corporate financial leverage: the bargaining device versus crowding-out hypotheses

Featured

2016

Journal Article

Deviation from target capital structure, cost of equity and speed of adjustment

Zhou, Qing, Tan, Kelvin Jui Keng, Faff, Robert and Zhu, Yushu (2016). Deviation from target capital structure, cost of equity and speed of adjustment. Journal of Corporate Finance, 39, 99-120. doi: 10.1016/j.jcorpfin.2016.06.002

Deviation from target capital structure, cost of equity and speed of adjustment

Featured

2016

Journal Article

CEO overconfidence and corporate debt maturity

Huang, Ronghong, Tan, Kelvin Jui Keng and Faff, Robert W. (2016). CEO overconfidence and corporate debt maturity. Journal of Corporate Finance, 36, 93-110. doi: 10.1016/j.jcorpfin.2015.10.009

CEO overconfidence and corporate debt maturity

2024

Journal Article

Does exchange-traded fund ownership affect a firm’s expected crash risk?

Chowdhury, Hasibul, Lin, Beiqi, Mei, Shunji, Tan, Kelvin Jui Keng and Zhang, Lei (2024). Does exchange-traded fund ownership affect a firm’s expected crash risk?. European Accounting Review, 1-33. doi: 10.1080/09638180.2024.2368129

Does exchange-traded fund ownership affect a firm’s expected crash risk?

2024

Journal Article

CEO Initial Contract Duration and Corporate Acquisitions

Chen, Guoli, Huang, Ronghong, Mei, Shunji and Tan, Kelvin Jui Keng (2024). CEO Initial Contract Duration and Corporate Acquisitions. Organization Science, 1-23. doi: 10.1287/orsc.2022.16493

CEO Initial Contract Duration and Corporate Acquisitions

2024

Journal Article

Effect of stock liquidity on the economic value of patents: Evidence from U.S. patent data

Im, Hyun Joong, Selvam, Srinivasan and Tan, Kelvin J.K. (2024). Effect of stock liquidity on the economic value of patents: Evidence from U.S. patent data. International Review of Financial Analysis, 94 103314, 103314. doi: 10.1016/j.irfa.2024.103314

Effect of stock liquidity on the economic value of patents: Evidence from U.S. patent data

2024

Journal Article

An introduction to frontier on corporate finance and capital market development in China

Quan, Xiaofeng, Tan, Kelvin Jui Keng and Li, Donghui (2024). An introduction to frontier on corporate finance and capital market development in China. Pacific Basin Finance Journal, 87 102504, 102504. doi: 10.1016/j.pacfin.2024.102504

An introduction to frontier on corporate finance and capital market development in China

2023

Journal Article

Missing the boat: regulatory approval delay and investment project outcomes

Ye, Qiaozhi, Huang, Ronghong and Tan, Kelvin Jui Keng (2023). Missing the boat: regulatory approval delay and investment project outcomes. The British Accounting Review, 55 (6) 101186, 1-27. doi: 10.1016/j.bar.2023.101186

Missing the boat: regulatory approval delay and investment project outcomes

2023

Journal Article

Do exchange traded funds affect corporate cash holdings?

Lin, Beiqi, Mei, Shunji, Tan, Kelvin Jui Keng and Zhang, Lei (2023). Do exchange traded funds affect corporate cash holdings?. Journal of Business Finance & Accounting, 51 (5-6), 1-46. doi: 10.1111/jbfa.12755

Do exchange traded funds affect corporate cash holdings?

2023

Journal Article

Corporate cash holdings through economic policy uncertainty: An Australian study

Heeney, Luke, Yang, Shanelle, Chowdhury, Hasibul and Tan, Kelvin Jui Keng (2023). Corporate cash holdings through economic policy uncertainty: An Australian study. Pacific-Basin Finance Journal, 79 102008, 1-10. doi: 10.1016/j.pacfin.2023.102008

Corporate cash holdings through economic policy uncertainty: An Australian study

2023

Journal Article

To see is to believe: Corporate site visits and mutual fund herding

Quan, Xiaofeng, Xiang, Cheng, Li, Donghui and Tan, Kelvin Jui Keng (2023). To see is to believe: Corporate site visits and mutual fund herding. Financial Management, 52 (4), 711-740. doi: 10.1111/fima.12421

To see is to believe: Corporate site visits and mutual fund herding

2022

Journal Article

The determinants of COVID-19 morbidity and mortality across countries

Chang, Dianna, Chang, Xin, He, Yu and Tan, Kelvin Jui Keng (2022). The determinants of COVID-19 morbidity and mortality across countries. Scientific Reports, 12 (1) 5888, 5888. doi: 10.1038/s41598-022-09783-9

The determinants of COVID-19 morbidity and mortality across countries

2022

Journal Article

Nowhere to hide: response of corporate restructuring activities to mandatory segment disclosure

Le, Trinh Hue, Oliver, Barry and Tan, Kelvin Jui Keng (2022). Nowhere to hide: response of corporate restructuring activities to mandatory segment disclosure. Journal of Corporate Finance, 76 102251, 1-22. doi: 10.1016/j.jcorpfin.2022.102251

Nowhere to hide: response of corporate restructuring activities to mandatory segment disclosure

2022

Journal Article

Toxic emissions and corporate green innovation

Li, Wenquan, Neupane-Joshi, Suman and Tan, Kelvin Jui Keng (2022). Toxic emissions and corporate green innovation. SSRN Electronic Journal, 1-82. doi: 10.2139/ssrn.4113290

Toxic emissions and corporate green innovation

2022

Journal Article

Do external labor market incentives improve labor investment efficiency?

Chowdhury, Hasibul, Hossain, Ashrafee, Tan, Kelvin and Zheng, Jiayi (2022). Do external labor market incentives improve labor investment efficiency?. Journal of Behavioral and Experimental Finance, 34 100648, 100648. doi: 10.1016/j.jbef.2022.100648

Do external labor market incentives improve labor investment efficiency?

2021

Journal Article

Business shocks and corporate leverage

Keng Tan, Kelvin Jui, Zhou, Qing, Pan, Zheyao and Faff, Robert (2021). Business shocks and corporate leverage. Journal of Banking and Finance, 131 106208, 1-21. doi: 10.1016/j.jbankfin.2021.106208

Business shocks and corporate leverage

2020

Journal Article

CEO turnover and bankrupt firms’ emergence

Lin, Beiqi, Liu, Chelsea, Tan, Kelvin Jui Keng and Zhou, Qing (2020). CEO turnover and bankrupt firms’ emergence. Journal of Business Finance and Accounting, 47 (9-10) jbfa.12482, 1238-1267. doi: 10.1111/jbfa.12482

CEO turnover and bankrupt firms’ emergence

2019

Journal Article

The role of blockholders in the corporate debt maturity structure

Pan, Zheyao and Tan, Kelvin Jui Keng (2019). The role of blockholders in the corporate debt maturity structure. Economics Letters, 185 108740, 108740. doi: 10.1016/j.econlet.2019.108740

The role of blockholders in the corporate debt maturity structure

2017

Journal Article

Why do overconfident REIT CEOs issue more debt? Mechanisms and value implications

Tan, Kelvin Jui Keng (2017). Why do overconfident REIT CEOs issue more debt? Mechanisms and value implications. Abacus, 53 (3), 319-348. doi: 10.1111/abac.12111

Why do overconfident REIT CEOs issue more debt? Mechanisms and value implications

2016

Journal Article

A contemporary view of corporate finance theory, empirical evidence and practice

Faff, Robert W., Gray, Stephen and Tan, Kelvin Jui Keng (2016). A contemporary view of corporate finance theory, empirical evidence and practice. Australian Journal of Management, 41 (4), 662-686. doi: 10.1177/0312896216632032

A contemporary view of corporate finance theory, empirical evidence and practice

Funding

Current funding

  • 2024 - 2025
    The impact of recognising operating leases on corporate financing decisions: Evidence from ASC 842
    Accounting and Finance Association of Australia and New Zealand
    Open grant

Past funding

  • 2022 - 2023
    Climate regulatory risk and eco-friendly innovation
    Accounting and Finance Association of Australia and New Zealand
    Open grant
  • 2018
    Smart Lending
    Commonwealth Bank of Australia
    Open grant
  • 2018 - 2019
    Are large shareholders effective monitors or free riders in corporate debt policy? Evidence from two natural experiments
    Accounting and Finance Association of Australia and New Zealand
    Open grant
  • 2017 - 2018
    Can business shocks explain the failure of empircal tests of capital structure theories?
    Accounting and Finance Association of Australia and New Zealand
    Open grant
  • 2016 - 2017
    CEO Overconfidence and Corporate Debt Issuance: Evidence from Real Estate Investment Trusts (REITs)
    Accounting and Finance Association of Australia and New Zealand
    Open grant
  • 2016
    What drives the firm's heterogeneous speed of adjustment toward an optimal capital structure?
    UQ Early Career Researcher
    Open grant
  • 2012 - 2013
    Managerial Overconfidence and Corporate Debt Maturity
    Accounting and Finance Association of Australia and New Zealand
    Open grant
  • 2010 - 2012
    The Role of Australian CFOs Survey in Capital Structure Theories
    UQ New Staff Research Start-Up Fund
    Open grant

Supervision

Availability

Associate Professor Kelvin Tan is:
Available for supervision

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Supervision history

Current supervision

  • Doctor Philosophy

    Determinants of SPAC Investment Performance

    Principal Advisor

  • Doctor Philosophy

    Firm-level political risks, CEO turnover, and CEO compensation

    Associate Advisor

    Other advisors: Dr Khoa Hoang, Dr Ronghong Huang

  • Doctor Philosophy

    Climate Change Risk and Labor Investment Efficiency

    Associate Advisor

    Other advisors: Dr Hasibul Chowdhury

  • Doctor Philosophy

    Analyzing the Intrinsic Heterogenous Dynamic Sensitivities in PE/VC Returns to Real Shocks within Institutional Portfolios

    Associate Advisor

    Other advisors: Dr Ronghong Huang, Professor Rumi Masih

  • Doctor Philosophy

    Three Essays on Corporate Toxic Emissions

    Associate Advisor

    Other advisors: Dr Suman Neupane-Joshi

  • Doctor Philosophy

    Essays on Debt Contracting

    Associate Advisor

    Other advisors: Dr Hasibul Chowdhury

  • Master Philosophy

    Corporate Social Responsibility, Firm-Level Emissions and Emerging Climate Laws: Cross-country Analysis

    Associate Advisor

    Other advisors: Associate Professor Jacquelyn Humphrey

Completed supervision

Media

Enquiries

Contact Associate Professor Kelvin Tan directly for media enquiries about:

  • Capital Structure
  • Corporate Finance

Need help?

For help with finding experts, story ideas and media enquiries, contact our Media team:

communications@uq.edu.au