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蔡明宏

蔡明宏

副研究員

國立臺灣大學商學博士
國立中央大學財務博士

研究領域: 個體經濟、賽局理論、財務經濟、公司財務


Email : mhtsay at gate.sinica.edu.tw

電話 : 02-2789-8188

  1. Min-Hung Tsay*, Chun-Hsien Yeh, Lan-Yi Liu, 2025, “Axiomatic and strategic foundations for the pairwise equal splitting rule in sequencing problems with an initial queue”, SOCIAL CHOICE AND WELFARE, 65, 335-361. (SSCI) (IF: 0.5; SSCI ranking: 92.7%,96.2%)

  2. Min-Hung Tsay*, Chun-Hsien Yeh, Youngsub Chun, 2025, “Axiomatic and strategic justifications of the connected equal splitting rule in the reordering problem”, JOURNAL OF MATHEMATICAL ECONOMICS, 117, 103095. (SSCI) (IF: 1; SSCI ranking: 79.8%,77.4%)

  3. Sharon S. Yang, Jr-Wei Huang*, Hong-Yi Chen, Min-Hung Tsay, 2025, “Detecting corporate ESG performance: the role of ESG materiality in corporate financial performance and risks”, NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE, 76, 102370. (SSCI) (IF: 3.8; SSCI ranking: 28.8%,21.5%)

  4. Tsay, M.-H., accepted, “The Impact of COVID-19 on Stock Price Volatility: The Role of Investor Sentiment and Corporate Governance”, Academia Economic Papers. (TSSCI, NSTC tier B+ economics ) (IF:  ;  )

  5. 蔡明宏、林佳慶、翁培師、王志維,accepted,〈COVID-19疫情對公司股價波動度之影響:投資人情緒與公司治理的角色〉(The Impact of COVID-19 on Stock Price Volatility: The Role of Investor Sentiment and Corporate Governance),《經濟論文》。(TSSCI)

  6. 蔡明宏、翁培師、陳穎萱、蔡秉玠,2024,〈分心的獨立董事對公司有何影響?兼論企業型態之差異〉(The Effects of Distracted Independent Directors on Companies and a Comparative Analysis of Firm Types),《管理學報》,41(2), 195-227。(TSSCI)

  7. 賴孚權、陳為政、陳嘉雯、蔡明宏,2023,〈COVID-19 大流行以來公衛與經濟相關學術文獻之擇要回顧〉,《經濟論文叢刊》,51(3), 285-357。(TSSCI)

  8. Juan D. Moreno-Ternero, Min-Hung Tsay, Chun-Hsien Yeh, 2022, “Strategic justifications of the TAL family of rules for bankruptcy problems”, INTERNATIONAL JOURNAL OF ECONOMIC THEORY, 18(1), 92-102. (SSCI) (IF: 0.5; SSCI ranking: 92.7%)

  9. Juan D. Moreno-Ternero, Min-Hung Tsay, Chun-Hsien Yeh, 2020, “A strategic justification of the Talmud rule based on lower and upper bounds”, INTERNATIONAL JOURNAL OF GAME THEORY, 49(4), 1045-1057. (SCIE, SSCI) (IF: 0.6; SCI ranking: 93.5%,89.6%; SSCI ranking: 90.6%,92.5%)

  10. 蔡明宏、徐滋敏、翁培師,2020,〈同業整合或跨業擴展?外部環境與內部特徵對企業併購型態選擇的影響〉(Within-Industry or Across-Industry? The Influence of the External Environment and Internal Characteristics on the Choice of Corporate Acquisition Types),《證券市場發展季刊》,32(1), 33-69。(TSSCI)

  11. 蔡明宏、翁培師、王子綾、張航,2020,〈家族企業與集團企業中董事會性別組成對公司的影響:績效、研發投資以及現金持有〉(Does the Gender Composition of the Board affect Corporate Performance and Decisions? Evidence from Family Firms and Conglomerates),《管理學報》,37(1), 35-68。(TSSCI)

  12. Min-Hung Tsay, Chun-Hsien Yeh, 2019, “Relations among the central rules in bankruptcy problems: A strategic perspective”, GAMES AND ECONOMIC BEHAVIOR, 113, 515-532. (SSCI) (IF: 1; SSCI ranking: 79.8%)

  13. Chuang-Chang Chang, Jun-Biao Lin, Min-Hung Tsay, 2018, “A generalized Brennan-Rubinstein approach for valuing options with stochastic interest rates”, QUARTERLY REVIEW OF ECONOMICS AND FINANCE, 67, 92-99. (SSCI, Econlit) (IF: 2.9; SSCI ranking: 30.7%)

  14. Cheng-Cheng Hu, Min-Hung Tsay, Chun-Hsien Yeh, 2018, “A study of the nucleolus in the nested cost-sharing problem: Axiomatic and strategic perspectives”, GAMES AND ECONOMIC BEHAVIOR, 109, 82-98. (SSCI) (IF: 1; SSCI ranking: 79.8%)

  15. Cheng-Cheng Hu, Min-Hung Tsay, Chun-Hsien Yeh, 2012, “Axiomatic and strategic justifications for the constrained equal benefits rule in the airport problem”, GAMES AND ECONOMIC BEHAVIOR, 75(1), 185-197. (SSCI) (IF: 1; SSCI ranking: 79.8%)

  16. Min-Hung Tsay, 2012, “Preemption and rent equalization in the adoption of new technology: Comment”, ECONOMICS BULLETIN, 32(2), 1680-1686. (Econlit)

  17. Chuang-Chang Chang, Ya-Huei Lian, Min-Hung Tsay, 2012, “Pricing dynamic guaranteed funds under a double exponential jump diffusion model”, ACADEMIA ECONOMIC PAPERS, 40(2), 269-306. (TSSCI)

  18. Yu-Lin Chen, Chia-Chi Lu, Min-Hung Tsay, 2012, “The role of the manager's human capital in mandatory and voluntary disclosures”, CHIAO DA MANAGEMENT REVIEW, 32(1), 107-136. (TSSCI)

  19. Chuang-Chang Chang, Chih-Chan Chen, Min-Hung Tsay, 2010, “Pricing survivor swaps with mortality jumps and default risk”, ACADEMIA ECONOMIC PAPERS, 38(2), 119-156. (TSSCI)

  1. Tsay, M.-H., 2025, “Consistency Characterizations of Rules in the Reordering Problem”, paper presented at The 20th European Meeting on Game Theory, Netherlands: School of Business and Economics, Maastricht University, 2025-06-16 ~ 2025-06-18.

  2. Tsay, M.-H.* with J.-W. Huang and S. S. Yang, 2025, “Institutional Investor Stewardship and GHG Emissions Reduction: Evidence from Taiwan”, paper presented at Annual Meeting and International Conference of Financial Engineering Association of Taiwna, Chiayi, Chung Cheng University: Financial Engineering Association of Taiwan, 2025-06-13.

  3. Tsay, M.-H. with C.-H. Yeh and Y. Chun, 2024, “Axiomatic and Strategic Justifications of the Connected Equal Splitting Rule in the Reordering Problem”, paper presented at The 5th East Asia Game Theory Conference, island of Jeju, Korea: Seoul National University (Center for Distributive Justice and Dept. of Economics) and Jeju National University (Dept. of Economics), 2024-08-26 ~ 2024-08-28.

  4. Tsay, M.-H. with C.-H. Yeh and Y. Chun, 2024, “Axiomatic and Strategic Justifications of the Connected Equal Splitting Rule in the Reordering Problem”, paper presented at The 17th meeting of the Society for Social Choice and Welfare, Paris, France: Society for Social Choice and Welfare CREM, UFR de SEGGAT, 2024-07-03 ~ 2024-07-06.

  5. Tsay, M.-H. with C.-H. Yeh, 2024, “Unified Strategic Foundations of the Shapley Value, the Nucleolus and the Egalitarian Solution for Nested Cost-sharing Problems”, paper presented at European Meeting on Game Theory 2024 (SING19), Besançon, France: University of Franche-Comté, 2024-07-08 ~ 2024-07-10.

  6. Tsay, M.-H. with C.-C. Lin, P.-S. Weng and Z.-W. Wang, 2024, “The Impact of COVID-19 on Stock Price Volatility: The Role of Investor Sentiment and Corporate Governance”, paper presented at Annual Meeting and International Conference of the Financial Engineering Association of Taiwan (FeAT), Taipei, Taiwan: Dept. of Finance, Ming Chuan University, 2024-05-03.

  7. Tsay, M.-H. with L.-Y. Liu and C.-H. Yeh, 2023, “Axiomatic and Strategic Foundations for the Shapely Value in Sequencing Problems with an Initial Order”, paper presented at The 22nd Annual SAET Conference, Paris, France: University of Paris 1 Pantheon-Sorbonne, 2023-07-17 ~ 2023-07-21.

  8. Tsay, M.-H. with K.-P. Chen, 2023, “The Hazard of Optimal Law Enforcement in Interdependent Markets”, paper presented at The 12th International Symposium of Quantitative Economics, 2023, Qinhuangdao, China: The Center for Quantitative Economics of Jilin University (School of Business and Management, Jilin University); School of Economics and Management, Yanshan University, 2023-07-07 ~ 2023-07-09.