Mu-Sheng “Shane” Chang

Education

  • Ph.D. 2008, Temple University
  • M.B.A. 2001, University of Southern California
  • B.S. 1991, Tunghai University, Taiwan

Areas of Expertise/Research

  • Alternative risk transfer
  • Captive insurance
  • Self-insurance

Selected Publications

  • Russell David, Jiun-Lin Chen, Mu-Sheng Chang, 2025, Exploring the Connection between Captive Insurance and Cash Flow: Evidence from S&P Global 100 Companies, Asia-Pacific Journal of Risk and Insurance
  • Jiun-Lin Chen, Mu-Sheng Chang, Harold Weston, and David Russell, 2023, Cash Flow and Captive Insurance: Is there a link? Evidence from S&P 500 Companies, Journal of Insurance Issues
  • Chang, Mu-Sheng and Jiun-Lin Chen, 2019, Does Captive Insurance Improve Firm Value? Evidence from S&P 500 Companies, Asia-Pacific Journal of Risk and Insurance
  • Chang, Mu-Sheng and Jiun-LinChen, Dec 2018, Characteristics of S&P 500 Companies with Captive Insurance Subsidiaries, Journal of Insurance Regulation
  • Chang, Mu-Sheng, and Elyas Elyasiani, 2015, Do Insurance Activities Enhance the Performance of Financial Services Holding Companies? Applied Economics

Honors and Awards

  • Best Paper Award 2026, Academy of Finance, MBAA (Midwest Business Administration Association) International
  • Certificate of Nomination, CSUN Alumni Engagement Award 2021, CSUN
  • Special Recognition Award 2019, Los Angeles Chapter of Risk Insurance Management Society (LA RIMS)