Faculty Profiles - GOYAL Vidhan Krishan | The Hong Kong University of Science and Technology

Vidhan Krishan GOYAL
高偉翰

PhD in Finance
University of Pittsburgh, 1994

Chair Professor
Department of Finance

(852) 2358 7678
goyal@ust.hk
Room LSK5011
Personal Web

Google Scholar

rWGeO8QAAAAJ

ORCID

0000-0002-3932-4825

ResearcherID

C-6488-2011

Scopus ID

7005469570

Research Interest Publications Projects Teaching Assignment RPG Supervision Space used

Research Interest

Capital structure
Corporate finance
Corporate governance
Corporate valuation
Empirical corporate finance
Asian financial markets
Mergers and acquisitions (M&A)

Publications

All Years 71 2024 2 2023 1 2022 3 2021 7 2020 1 2019 2 2018 55

2024 2

Empirical Corporate Capital Structure

Handbook of Corporate Finance / edited by David J. Denis. Cheltenham, United Kingdom : Edward Elgar Publishing, 2023, p. 27-125, Ch. 2
Frank, Murray; Goyal, Vidhan
Book chapter

Passive Ownership and the Environment

SGF Conference 2024
Goyal, Vidhan; Schmidt, Daniel; Spickers, Theresa; Urban, Daniel
Conference paper

2023 1

Longevity Shocks and Corporate Debt Markets

Chen, Zhanhui; Goyal, Vidhan; Luo, Pingyi; Zhu, Wenjun
Conference paper

2022 3

Debt Market Responses to Longevity Shocks

Chen, Zhanhui; Goyal, Vidhan Krishan; Lou, Pingyi; Zhu, Wenjun
Conference paper

Life Expectancy and Corporate Debt Markets

Chen, Zhanhui; Goyal, Vidhan Krishan; Lou, Pingyi; Zhu, Wenjun
Conference paper

2021 7

Debt Market Responses to Longevity Shocks

Chen, Zhanhui; Goyal, Vidhan Krishan; Lou, Pingyi; Zhu, Wenjun
Conference paper

Debt Market Responses to Longevity Shocks

Chen, Zhanhui; Goyal, Vidhan; Luo, Pingyi; Zhu, Wenjun
Conference paper

Friends in Court

Goyal, Vidhan Krishan; Madsen, Joshua; Wang, Wei
Conference paper

Index Creation, Information, and External Finance

Goyal, Vidhan Krishan; Urban, Daniel; Zhao, Wenting
Conference paper

Lawyer Networks and Corporate Bankruptcies

Financial Intermediation Research Society (FIRS) Conference 2021, Vancouver, Canada, 4-6 June 2021
Goyal, Vidhan Krishan; Madsen, Joshua; Wang, Wei
Conference paper

Lawyer Networks and Corporate Bankruptcies

Goyal, Vidhan Krishan; Madsen, Joshua; Wang, Wei
Conference paper

2020 1

The Pecking Order Theory of Capital Structure

Oxford Research Encyclopedia of Economics and Finance / Oxford University Press. Oxford, UK : Oxford University Press, 2020
Frank, Murray; Goyal, Vidhan Krishan; Shen, Tao
Book chapter

2019 2

Banking Relationships and Creditor Rights

Quarterly Journal of Finance, 2019, article number 1950016
Goyal, Vidhan Krishan; Naaraayanan, Sankararama Lakshmi; Srinivasan, Anand
Article

Investor Myopia and CEO Turnover

International Review of Finance, v.19, (4), December 2019, p. 759-786
Goyal, Vidhan Krishan; Low, Angie
Article

2018 1

Capital Market Access and Cash Flow Allocation During the Financial Crisis

Goyal, Vidhan Krishan; Florysiak, David J.
Conference paper

2017 4

Provision of Management Incentives in Bankrupt Firms

Journal of Law, Finance, and Accounting, v. 2, (1), June 2017, p. 87-123
Goyal, Vidhan Krishan; Wang, Wei
Article

Index Membership and Capital Structure: International Evidence

Goyal, Vidhan Krishan; Urban, Daniel; Zhao, Wenting
Conference paper

2016 5

Banking Relationships and Loan Contracting

S. Lakshmi Naaraayanan; Goyal, Vidhan K.; Srinivasan, Anand
Conference paper

Capital Market Access and Cash Flow Allocation during the Financial Crisis

Goyal, Vidhan Krishan; Florysiak, David Jens
Conference paper

Capital Market Access and Cash Flow Allocation During the Financial Crisis

Goyal, Vidhan Krishan; Florysiak, David Jens
Conference paper

Capital Structure in Emerging Asia

Packer, Frank; Goyal, Vidhan Krishan
Conference paper

2015 2

The profits-leverage puzzle revisited

Review of Finance, v. 19, (4), July 2015, p. 1415-1453
Frank, Murray Z.; Goyal, Vidhan K.
Article

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

2014 2

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

Top Management Compensation Differences and Merger Outcomes

Goyal, Vidhan Krishan; Zhang, Zilong
Conference paper

2013 2

Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes

Journal of Financial and Quantitative Analysis, v. 48, (3), June 2013, p. 789-817
Goyal, Vidhan K.; Wang, Wei
Article

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

2012 4

Provision of incentives in Chapter 11 firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

Provision of Management Incentives in Bankrupt Firms

Proceedings: 2012 NTU International Conference on Finance, 2012
Goyal, Vidhan K.; Wang, Wei
Conference paper

2011 1

Capital Market Access and Financing of Private Firms

International Review of Finance, v. 11, (2), June 2011, p. 155-179, Special Issue: Financing and Capital Structure: Part II
Goyal, Vidhan K.; Nova, Alessandro; Zanetti, Laura
Article

2010 6

Equity market liberalization and corporate governance

Journal of Corporate Finance, v. 16, (5), December 2010, p. 609-621
Bae, Kee-Hong; Goyal, Vidhan K.
Article

Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes

Goyal, Vidhan K.; Wei, Wang
Conference paper

Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes

Goyal, Vidhan K.; Wang, Wei
Conference paper

Investor Characteristics, Relationships, and IPO Allocations

Goyal, Vidhan K.; Tam, Lewis
Conference paper

2009 6

Capital Structure Decisions: Which Factors Are Reliably Important ?

Financial Management, v. 38, (1), 2009, p. 1-37
Frank, Murray Z.; Goyal, Vidhan K.
Article

Creditor Rights, Enforcement, and Bank Loans

Journal of Finance, v. 64, (2), April 2009, p. 823-860
Bae, Kee-Hong; Goyal, Vidhan K.
Article

Corporate Board Structures

QFinance: The Ultimate Resource / Bloomsbury. London, UK : Bloomsbury, 2009, p. 137-140
Goyal, Vidhan K.
Book chapter

Corporate Governance and Stock Market Liberalization

Goyal, Vidhan K.; Bae, Kee-Hong
Conference paper

Corporate Leverage Adjustment: How Much Do Managers Really Matter?

Goyal, Vidhan K.; Frank, Murray
Conference paper

Profits and Capital Structure

Frank, Murray; Goyal, Vidhan K.
Conference paper

2008 4

The investment opportunity set and its proxy variables

Journal of Financial Research, v. 31, (1), 2008, p. 41-63
Adam, Tim; Goyal, Vidhan K.
Article

Tradeoff and Pecking Order Theories of Debt

Handbook of Empirical Corporate Finance, v.2 / Edited by B. Espen Eckbo. Amsterdam : Elsevier, 2008, p. 135-197, Ch. 12
Goyal, Vidhan K.; Frank, Murray
Book chapter

Equity market liberalization and corporate governance

Bae, Kee-Hong; Goyal, Vidhan K.
Conference paper

Equity Market Liberalization and Corporate Governance

Bae, Kee-Hong; Goyal, Vidhan Krishan
Conference paper

2006 2

On the patterns and wealth effects of vertical mergers

Journal of business, v. 79, (2), 2006, MAR, p. 877-902
Fan, Joseph P.H.; Goyal, Vidhan K.
Article

Corporate Leverage Adjustment: How Much Do Managers Really Matter?

Frank, Murray Z.; Goyal, Vidhan K.
Conference paper

2005 3

Market discipline of bank risk: Evidence from subordinated debt contracts

Journal of financial intermediation, v. 14, (3), 2005, JUL, p. 318-350
Goyal, Vidhan K.
Article

Creditor Rights, Enforcement and Costs of Loan Finance

Sixth CIFRA International Conference on Financial Development and Governance. Moscow, August 2005
Bae, Kee-Hong; Goyal, Vidhan K.
Conference paper

Underwriter Investor relationships and information spillovers

Conference on the Theories and Practices of Securities and Financial Markets, National Sun Yat-sen University, Kaohsiung, December 2005
Goyal, Vidhan K.; Tam, Lewis H.K.
Conference paper

2004 4

Asset price shocks, financial constraints, and investment: Evidence from Japan

Journal of business, v. 77, (1), 2004, JAN, p. 175-199
Goyal, Vidhan K.; Yamada, Takeshi
Article

The effect of market conditions on capital structure adjustment

Finance Research Letters, v. 1, (1), 2004, p. 47-55
Frank, Murray Z.; Goyal, Vidhan K.
Article

Capital Structure Decisions

American Finance Association (AFA) Meetings, San Diego, January
Frank, Murray Z.; Goyal, Vidhan K.
Conference paper

Property rights protection and bank loan pricing

Financial Intermediation Research Society Conference, Capri, May
Bae, Kee-Hong; Goyal, Vidhan K.
Conference paper

2003 1

Testing the pecking order theory of capital structure

Journal of financial economics, v. 67, (2), 2003, FEB, p. 217-248
Frank, Murray Z.; Goyal, Vidhan K.
Article

2002 2

Board leadership structure and CEO turnover

Journal of corporate finance, v. 8, (1), 2002, JAN, p. 49-66
Goyal, Vidhan K.; Park, Chul W.
Article

Growth opportunities and corporate debt policy: the case of the US defense industry

Journal of financial economics, v. 64, (1), 2002, APR, p. 35-59
Goyal, Vidhan K.; Lehn, Kenneth M.; Racic, Stanko
Article

2001 3

Asset Price Bubbles, Liquidity and Investment: Evidence from Japan

Econometric Society Far Eastern Meeting, July, Kobe, Japan
Goyal, Vidhan; Yamada, Takeshi
Conference paper

Market Discipline of Bank Risk Taking: Evidence from Subordinated Debt Contracts

Goyal, Vidhan Krishan
Conference paper

On the patterns and wealth effect of vertical mergers

American Finance Association (AFA) Meetings, January, Atlanta
Goyal, Vidhan; Fan, Po-Hung
Conference paper

1999 1

Bank monitoring and the maturity structure of Japanese corporate debt issues

Pacific Basin Finance Journal, v. 7, (3-4), 1999, p. 229-250
Cai, Jun; Cheung, Yan-Leung; Goyal, Vidhan K.
Article

1998 1

A corporate bond innovation of the 90s: The clawback provision in high-yield debt

Journal of Corporate Finance, v. 4, (4), 1998, p. 301-320
Goyal, Vidhan K.; Gollapudi, Neela; Ogden, Joseph P.
Article

1994 1

The ex-date impact of rights offerings: The evidence from firms listed on the Tokyo Stock Exchange

Pacific-Basin Finance Journal, v. 2, (2-3), 1994, May, p. 277-291
Goyal, Vidhan K.; Hwang, Chuan-Yang; Jayaraman, Narayanan; Shastri, Kuldeep
Article

Book chapter 1

Empirical Corporate Capital Structure

Handbook of Corporate Finance / edited by David J. Denis. Cheltenham, United Kingdom : Edward Elgar Publishing, 2023, p. 27-125, Ch. 2
Frank, Murray; Goyal, Vidhan

Conference paper 1

Passive Ownership and the Environment

SGF Conference 2024
Goyal, Vidhan; Schmidt, Daniel; Spickers, Theresa; Urban, Daniel

Conference paper 1

Longevity Shocks and Corporate Debt Markets

Chen, Zhanhui; Goyal, Vidhan; Luo, Pingyi; Zhu, Wenjun

Conference paper 3

Debt Market Responses to Longevity Shocks

Chen, Zhanhui; Goyal, Vidhan Krishan; Lou, Pingyi; Zhu, Wenjun

Life Expectancy and Corporate Debt Markets

Chen, Zhanhui; Goyal, Vidhan Krishan; Lou, Pingyi; Zhu, Wenjun

Conference paper 7

Debt Market Responses to Longevity Shocks

Chen, Zhanhui; Goyal, Vidhan Krishan; Lou, Pingyi; Zhu, Wenjun

Debt Market Responses to Longevity Shocks

Chen, Zhanhui; Goyal, Vidhan; Luo, Pingyi; Zhu, Wenjun

Friends in Court

Goyal, Vidhan Krishan; Madsen, Joshua; Wang, Wei

Index Creation, Information, and External Finance

Goyal, Vidhan Krishan; Urban, Daniel; Zhao, Wenting

Lawyer Networks and Corporate Bankruptcies

Financial Intermediation Research Society (FIRS) Conference 2021, Vancouver, Canada, 4-6 June 2021
Goyal, Vidhan Krishan; Madsen, Joshua; Wang, Wei

Lawyer Networks and Corporate Bankruptcies

Goyal, Vidhan Krishan; Madsen, Joshua; Wang, Wei

Book chapter 1

The Pecking Order Theory of Capital Structure

Oxford Research Encyclopedia of Economics and Finance / Oxford University Press. Oxford, UK : Oxford University Press, 2020
Frank, Murray; Goyal, Vidhan Krishan; Shen, Tao

Article 2

Banking Relationships and Creditor Rights

Quarterly Journal of Finance, 2019, article number 1950016
Goyal, Vidhan Krishan; Naaraayanan, Sankararama Lakshmi; Srinivasan, Anand

Investor Myopia and CEO Turnover

International Review of Finance, v.19, (4), December 2019, p. 759-786
Goyal, Vidhan Krishan; Low, Angie

Conference paper 1

Capital Market Access and Cash Flow Allocation During the Financial Crisis

Goyal, Vidhan Krishan; Florysiak, David J.

Article 1

Provision of Management Incentives in Bankrupt Firms

Journal of Law, Finance, and Accounting, v. 2, (1), June 2017, p. 87-123
Goyal, Vidhan Krishan; Wang, Wei

Conference paper 3

Index Membership and Capital Structure: International Evidence

Goyal, Vidhan Krishan; Urban, Daniel; Zhao, Wenting

Conference paper 5

Banking Relationships and Loan Contracting

S. Lakshmi Naaraayanan; Goyal, Vidhan K.; Srinivasan, Anand

Capital Market Access and Cash Flow Allocation during the Financial Crisis

Goyal, Vidhan Krishan; Florysiak, David Jens

Capital Market Access and Cash Flow Allocation During the Financial Crisis

Goyal, Vidhan Krishan; Florysiak, David Jens

Capital Structure in Emerging Asia

Packer, Frank; Goyal, Vidhan Krishan

Article 1

The profits-leverage puzzle revisited

Review of Finance, v. 19, (4), July 2015, p. 1415-1453
Frank, Murray Z.; Goyal, Vidhan K.

Conference paper 1

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei

Conference paper 2

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei

Top Management Compensation Differences and Merger Outcomes

Goyal, Vidhan Krishan; Zhang, Zilong

Article 1

Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes

Journal of Financial and Quantitative Analysis, v. 48, (3), June 2013, p. 789-817
Goyal, Vidhan K.; Wang, Wei

Conference paper 1

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei

Conference paper 4

Provision of incentives in Chapter 11 firms

Goyal, Vidhan K.; Wang, Wei

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei

Provision of Management Incentives in Bankrupt Firms

Proceedings: 2012 NTU International Conference on Finance, 2012
Goyal, Vidhan K.; Wang, Wei

Article 1

Capital Market Access and Financing of Private Firms

International Review of Finance, v. 11, (2), June 2011, p. 155-179, Special Issue: Financing and Capital Structure: Part II
Goyal, Vidhan K.; Nova, Alessandro; Zanetti, Laura

Article 1

Equity market liberalization and corporate governance

Journal of Corporate Finance, v. 16, (5), December 2010, p. 609-621
Bae, Kee-Hong; Goyal, Vidhan K.

Conference paper 5

Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes

Goyal, Vidhan K.; Wei, Wang

Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes

Goyal, Vidhan K.; Wang, Wei

Investor Characteristics, Relationships, and IPO Allocations

Goyal, Vidhan K.; Tam, Lewis

Article 2

Capital Structure Decisions: Which Factors Are Reliably Important ?

Financial Management, v. 38, (1), 2009, p. 1-37
Frank, Murray Z.; Goyal, Vidhan K.

Creditor Rights, Enforcement, and Bank Loans

Journal of Finance, v. 64, (2), April 2009, p. 823-860
Bae, Kee-Hong; Goyal, Vidhan K.

Book chapter 1

Corporate Board Structures

QFinance: The Ultimate Resource / Bloomsbury. London, UK : Bloomsbury, 2009, p. 137-140
Goyal, Vidhan K.

Conference paper 3

Corporate Governance and Stock Market Liberalization

Goyal, Vidhan K.; Bae, Kee-Hong

Corporate Leverage Adjustment: How Much Do Managers Really Matter?

Goyal, Vidhan K.; Frank, Murray

Profits and Capital Structure

Frank, Murray; Goyal, Vidhan K.

Article 1

The investment opportunity set and its proxy variables

Journal of Financial Research, v. 31, (1), 2008, p. 41-63
Adam, Tim; Goyal, Vidhan K.

Book chapter 1

Tradeoff and Pecking Order Theories of Debt

Handbook of Empirical Corporate Finance, v.2 / Edited by B. Espen Eckbo. Amsterdam : Elsevier, 2008, p. 135-197, Ch. 12
Goyal, Vidhan K.; Frank, Murray

Conference paper 2

Equity market liberalization and corporate governance

Bae, Kee-Hong; Goyal, Vidhan K.

Equity Market Liberalization and Corporate Governance

Bae, Kee-Hong; Goyal, Vidhan Krishan

Article 1

On the patterns and wealth effects of vertical mergers

Journal of business, v. 79, (2), 2006, MAR, p. 877-902
Fan, Joseph P.H.; Goyal, Vidhan K.

Conference paper 1

Corporate Leverage Adjustment: How Much Do Managers Really Matter?

Frank, Murray Z.; Goyal, Vidhan K.

Article 1

Market discipline of bank risk: Evidence from subordinated debt contracts

Journal of financial intermediation, v. 14, (3), 2005, JUL, p. 318-350
Goyal, Vidhan K.

Conference paper 2

Creditor Rights, Enforcement and Costs of Loan Finance

Sixth CIFRA International Conference on Financial Development and Governance. Moscow, August 2005
Bae, Kee-Hong; Goyal, Vidhan K.

Underwriter Investor relationships and information spillovers

Conference on the Theories and Practices of Securities and Financial Markets, National Sun Yat-sen University, Kaohsiung, December 2005
Goyal, Vidhan K.; Tam, Lewis H.K.

Article 2

Asset price shocks, financial constraints, and investment: Evidence from Japan

Journal of business, v. 77, (1), 2004, JAN, p. 175-199
Goyal, Vidhan K.; Yamada, Takeshi

The effect of market conditions on capital structure adjustment

Finance Research Letters, v. 1, (1), 2004, p. 47-55
Frank, Murray Z.; Goyal, Vidhan K.

Conference paper 2

Capital Structure Decisions

American Finance Association (AFA) Meetings, San Diego, January
Frank, Murray Z.; Goyal, Vidhan K.

Property rights protection and bank loan pricing

Financial Intermediation Research Society Conference, Capri, May
Bae, Kee-Hong; Goyal, Vidhan K.

Article 1

Testing the pecking order theory of capital structure

Journal of financial economics, v. 67, (2), 2003, FEB, p. 217-248
Frank, Murray Z.; Goyal, Vidhan K.

Article 2

Board leadership structure and CEO turnover

Journal of corporate finance, v. 8, (1), 2002, JAN, p. 49-66
Goyal, Vidhan K.; Park, Chul W.

Growth opportunities and corporate debt policy: the case of the US defense industry

Journal of financial economics, v. 64, (1), 2002, APR, p. 35-59
Goyal, Vidhan K.; Lehn, Kenneth M.; Racic, Stanko

Conference paper 3

Asset Price Bubbles, Liquidity and Investment: Evidence from Japan

Econometric Society Far Eastern Meeting, July, Kobe, Japan
Goyal, Vidhan; Yamada, Takeshi

Market Discipline of Bank Risk Taking: Evidence from Subordinated Debt Contracts

Goyal, Vidhan Krishan

On the patterns and wealth effect of vertical mergers

American Finance Association (AFA) Meetings, January, Atlanta
Goyal, Vidhan; Fan, Po-Hung

Article 1

Bank monitoring and the maturity structure of Japanese corporate debt issues

Pacific Basin Finance Journal, v. 7, (3-4), 1999, p. 229-250
Cai, Jun; Cheung, Yan-Leung; Goyal, Vidhan K.

Article 1

A corporate bond innovation of the 90s: The clawback provision in high-yield debt

Journal of Corporate Finance, v. 4, (4), 1998, p. 301-320
Goyal, Vidhan K.; Gollapudi, Neela; Ogden, Joseph P.

Article 1

The ex-date impact of rights offerings: The evidence from firms listed on the Tokyo Stock Exchange

Pacific-Basin Finance Journal, v. 2, (2-3), 1994, May, p. 277-291
Goyal, Vidhan K.; Hwang, Chuan-Yang; Jayaraman, Narayanan; Shastri, Kuldeep

2018 1

Capital Market Access and Cash Flow Allocation During the Financial Crisis

Goyal, Vidhan Krishan; Florysiak, David J.
Conference paper

2017 4

Provision of Management Incentives in Bankrupt Firms

Journal of Law, Finance, and Accounting, v. 2, (1), June 2017, p. 87-123
Goyal, Vidhan Krishan; Wang, Wei
Article

Index Membership and Capital Structure: International Evidence

Goyal, Vidhan Krishan; Urban, Daniel; Zhao, Wenting
Conference paper

2016 5

Banking Relationships and Loan Contracting

S. Lakshmi Naaraayanan; Goyal, Vidhan K.; Srinivasan, Anand
Conference paper

Capital Market Access and Cash Flow Allocation during the Financial Crisis

Goyal, Vidhan Krishan; Florysiak, David Jens
Conference paper

Capital Market Access and Cash Flow Allocation During the Financial Crisis

Goyal, Vidhan Krishan; Florysiak, David Jens
Conference paper

Capital Structure in Emerging Asia

Packer, Frank; Goyal, Vidhan Krishan
Conference paper

2015 2

The profits-leverage puzzle revisited

Review of Finance, v. 19, (4), July 2015, p. 1415-1453
Frank, Murray Z.; Goyal, Vidhan K.
Article

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

2014 2

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

Top Management Compensation Differences and Merger Outcomes

Goyal, Vidhan Krishan; Zhang, Zilong
Conference paper

2013 2

Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes

Journal of Financial and Quantitative Analysis, v. 48, (3), June 2013, p. 789-817
Goyal, Vidhan K.; Wang, Wei
Article

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

2012 4

Provision of incentives in Chapter 11 firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

Provision of Management Incentives in Bankrupt Firms

Goyal, Vidhan K.; Wang, Wei
Conference paper

Provision of Management Incentives in Bankrupt Firms

Proceedings: 2012 NTU International Conference on Finance, 2012
Goyal, Vidhan K.; Wang, Wei
Conference paper

2011 1

Capital Market Access and Financing of Private Firms

International Review of Finance, v. 11, (2), June 2011, p. 155-179, Special Issue: Financing and Capital Structure: Part II
Goyal, Vidhan K.; Nova, Alessandro; Zanetti, Laura
Article

2010 6

Equity market liberalization and corporate governance

Journal of Corporate Finance, v. 16, (5), December 2010, p. 609-621
Bae, Kee-Hong; Goyal, Vidhan K.
Article

Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes

Goyal, Vidhan K.; Wei, Wang
Conference paper

Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes

Goyal, Vidhan K.; Wang, Wei
Conference paper

Investor Characteristics, Relationships, and IPO Allocations

Goyal, Vidhan K.; Tam, Lewis
Conference paper

2009 6

Capital Structure Decisions: Which Factors Are Reliably Important ?

Financial Management, v. 38, (1), 2009, p. 1-37
Frank, Murray Z.; Goyal, Vidhan K.
Article

Creditor Rights, Enforcement, and Bank Loans

Journal of Finance, v. 64, (2), April 2009, p. 823-860
Bae, Kee-Hong; Goyal, Vidhan K.
Article

Corporate Board Structures

QFinance: The Ultimate Resource / Bloomsbury. London, UK : Bloomsbury, 2009, p. 137-140
Goyal, Vidhan K.
Book chapter

Corporate Governance and Stock Market Liberalization

Goyal, Vidhan K.; Bae, Kee-Hong
Conference paper

Corporate Leverage Adjustment: How Much Do Managers Really Matter?

Goyal, Vidhan K.; Frank, Murray
Conference paper

Profits and Capital Structure

Frank, Murray; Goyal, Vidhan K.
Conference paper

2008 4

The investment opportunity set and its proxy variables

Journal of Financial Research, v. 31, (1), 2008, p. 41-63
Adam, Tim; Goyal, Vidhan K.
Article

Tradeoff and Pecking Order Theories of Debt

Handbook of Empirical Corporate Finance, v.2 / Edited by B. Espen Eckbo. Amsterdam : Elsevier, 2008, p. 135-197, Ch. 12
Goyal, Vidhan K.; Frank, Murray
Book chapter

Equity market liberalization and corporate governance

Bae, Kee-Hong; Goyal, Vidhan K.
Conference paper

Equity Market Liberalization and Corporate Governance

Bae, Kee-Hong; Goyal, Vidhan Krishan
Conference paper

2006 2

On the patterns and wealth effects of vertical mergers

Journal of business, v. 79, (2), 2006, MAR, p. 877-902
Fan, Joseph P.H.; Goyal, Vidhan K.
Article

Corporate Leverage Adjustment: How Much Do Managers Really Matter?

Frank, Murray Z.; Goyal, Vidhan K.
Conference paper

2005 3

Market discipline of bank risk: Evidence from subordinated debt contracts

Journal of financial intermediation, v. 14, (3), 2005, JUL, p. 318-350
Goyal, Vidhan K.
Article

Creditor Rights, Enforcement and Costs of Loan Finance

Sixth CIFRA International Conference on Financial Development and Governance. Moscow, August 2005
Bae, Kee-Hong; Goyal, Vidhan K.
Conference paper

Underwriter Investor relationships and information spillovers

Conference on the Theories and Practices of Securities and Financial Markets, National Sun Yat-sen University, Kaohsiung, December 2005
Goyal, Vidhan K.; Tam, Lewis H.K.
Conference paper

2004 4

Asset price shocks, financial constraints, and investment: Evidence from Japan

Journal of business, v. 77, (1), 2004, JAN, p. 175-199
Goyal, Vidhan K.; Yamada, Takeshi
Article

The effect of market conditions on capital structure adjustment

Finance Research Letters, v. 1, (1), 2004, p. 47-55
Frank, Murray Z.; Goyal, Vidhan K.
Article

Capital Structure Decisions

American Finance Association (AFA) Meetings, San Diego, January
Frank, Murray Z.; Goyal, Vidhan K.
Conference paper

Property rights protection and bank loan pricing

Financial Intermediation Research Society Conference, Capri, May
Bae, Kee-Hong; Goyal, Vidhan K.
Conference paper

2003 1

Testing the pecking order theory of capital structure

Journal of financial economics, v. 67, (2), 2003, FEB, p. 217-248
Frank, Murray Z.; Goyal, Vidhan K.
Article

2002 2

Board leadership structure and CEO turnover

Journal of corporate finance, v. 8, (1), 2002, JAN, p. 49-66
Goyal, Vidhan K.; Park, Chul W.
Article

Growth opportunities and corporate debt policy: the case of the US defense industry

Journal of financial economics, v. 64, (1), 2002, APR, p. 35-59
Goyal, Vidhan K.; Lehn, Kenneth M.; Racic, Stanko
Article

2001 3

Asset Price Bubbles, Liquidity and Investment: Evidence from Japan

Econometric Society Far Eastern Meeting, July, Kobe, Japan
Goyal, Vidhan; Yamada, Takeshi
Conference paper

Market Discipline of Bank Risk Taking: Evidence from Subordinated Debt Contracts

Goyal, Vidhan Krishan
Conference paper

On the patterns and wealth effect of vertical mergers

American Finance Association (AFA) Meetings, January, Atlanta
Goyal, Vidhan; Fan, Po-Hung
Conference paper

1999 1

Bank monitoring and the maturity structure of Japanese corporate debt issues

Pacific Basin Finance Journal, v. 7, (3-4), 1999, p. 229-250
Cai, Jun; Cheung, Yan-Leung; Goyal, Vidhan K.
Article

1998 1

A corporate bond innovation of the 90s: The clawback provision in high-yield debt

Journal of Corporate Finance, v. 4, (4), 1998, p. 301-320
Goyal, Vidhan K.; Gollapudi, Neela; Ogden, Joseph P.
Article

1994 1

The ex-date impact of rights offerings: The evidence from firms listed on the Tokyo Stock Exchange

Pacific-Basin Finance Journal, v. 2, (2-3), 1994, May, p. 277-291
Goyal, Vidhan K.; Hwang, Chuan-Yang; Jayaraman, Narayanan; Shastri, Kuldeep
Article

Teaching Assignment

2024-25 Fall 1 2023-24 Summer 0 2023-24 Spring 0 2023-24 Winter 0 2023-24 Fall 1 2022-23 Summer 0

FINA2303

Financial Management

FINA2303

Financial Management

No Teaching Assignments

Research Postgraduate (RPG) Supervision

From January 2021 to December 2024 (As of 21 November 2024)

Graduated RPGs

Doctor of Philosophy

SHON, Janghoon
Finance( Completed in 2023 )
HA, Sangeun
Finance( Completed in 2022 )

Projects

From January 2022 to December 2024

All Projects 2

No Projects.
Investor Disagreement, Share Repurchases, and Takeovers

投資者意見分歧，股票回購，和企業收購 Leading

RGC - General Research Fund
Project Team (HKUST)
GOYAL Vidhan Krishan (Lead)
2023 -
Credit Supply Shocks and Pledgability of Cash Flows

信貸供給沖擊和現金流量的可抵押性 Leading

RGC - General Research Fund
Project Team (HKUST)
GOYAL Vidhan Krishan (Lead)
2021 - 2023