RESEARCH
Published Papers
AICG researchers conduct researches on various topics in Finance such as General Corporate Finance, Asset Pricing, Investments, Financial Derivatives as well as Corporate Governance. The followings are the sample researches conducted by AICG researchers.
2022
- Kyung Suh Park, Woo chan Kim, A Survey of Research on the Corporate Governance of Korean Firms, 재무연구, 2022.02
- Joon Ho Hwang, Bitcoin price manipulation: evidence from intraday orders and trades, APPLIED ECONOMICS LETTERS, 2022.01
- Dong Wook Lee, Can Swap Basis Predict Foreign Exchange Rate? Evidence from Korea, 재무연구, 2022.05
- Changki Kim, Consumer Behaviors in Korean Variable Insurance Market - Around the Global Financial Crisis and the COVID-19 Crisis -, CRISISONOMY, 2022.03
- Jiwoong Jung, Do Prime Brokers Matter in the Search for Informed Hedge Fund Managers?, MANAGEMENT SCIENCE, 2022.10
- Hee Beom Lee, Do credit supply shocks affect fertility choices?, JOURNAL OF BEHAVIORAL AND EXPERIMENTAL FINANCE, 2022.06
- Joon Ho Hwang, Down to the cents: The case of international drug prices, FINANCE RESEARCH LETTERS, 2022.05
- Taejin Kim, Top Management Team Incentive Dispersion and Earnings Quality, CONTEMPORARY ACCOUNTING RESEARCH, 2022.06
- Woochan Kim, Tunneling through trademarks, JOURNAL OF CORPORATE FINANCE, 2022.10
- Changki Kim, 금융강국 건설 방안, 글로벌금융리뷰, 2022.03
2021
- Dong Wook Lee, Why Does Equity Capital Flow out of High Tobin's q Industries?, REVIEW OF FINANCIAL STUDIES, 2021.04
- Dong Wook Lee, The Role of Second-Tier Exchange in Corporate Valuation: Evidence from Korea, ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, 2021.12
- Woochan Kim, 사회적 책임 경영과 기업가치: 중대재해처벌법 통과의 공시효과를 중심으로, 재무관리연구, 2021.09
- Joon Ho Hwang, Down to the cents: The case of international drug prices, FINANCE RESEARCH LETTERS, 2021.07
- Changki Kim, 블록체인 어플리케이션을 통한 보험 거래 - 국내 보험 산업의 현황과 시사점 -, CRISISONOMY, 2021.11
- Joon Ho Hwang, Underwriters’ price support regulation and institutional investors’ trading: The case of the putback option, RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2021.10
- Changki Kim, 로보어드바이저와 위험관리, 글로벌금융리뷰, 2021.03
- Changki Kim, Telehealth and Insurance Industry, 리스크관리연구, 2021.09
- Changki Kim, 보험사업과 ESG 경영, 글로벌금융리뷰, 2021.09
- Changki Kim, Application of An Optimal Pairs Trading Strategy under Geometric Brownian Motions and Cointegration Test to the S&P100, JOURNAL OF BUSINESS AND SOCIAL SCIENCE REVIEW, 2021.03
- Woochan Kim, Anchoring Effect of Pre-Meeting Vote Disclosures: Evidence from the National Pension Service, 재무연구, 2021.11
- Taejin Kim, Trust and trading volume, ECONOMICS LETTERS, 2021.10
- Woochan Kim, Investment efficiency of firms outside the business group, JOURNAL OF CORPORATE FINANCE, 2021.12
- Woochan Kim, The Effect of Board Structure on Firm Disclosure and Behavior: A Case Study of Korea and a Comparison of Research Designs, JOURNAL OF EMPIRICAL LEGAL STUDIES, 2021.06
- Bumjean Sohn, Aggregate Volatility Risk and Empirical Factors: An International Study, EMERGING MARKETS FINANCE AND TRADE, 2021.04
- Hyun Seung Na, 외국인 투자자의 대규모 지분인수가 기업의 주가에 미치는 영향: 정보비대칭과 주주권한을 중심으로, 재무연구, 2021.02
2020
- Chan Shik Jung, Kyung Suh Park, The Effects of Corporate Governance on Stock Pricing Efficiency in the Korean Stock Market, Korean Journal of Financial Studies, 2020.02
- Sun Min Kim, Kyung Suh Park, Chan Shik Jung, The Effects of Stewardship Code on the Exercise of Voting Rights by Institutional Investors at Shareholders’ Meetings, Korean Journal of Financial Studies 2020.08
- Dongcheol Kim, Inro Lee, The financial distress pricing puzzle in banking firms, Accounting and Finance, 2020.06
- Bill Hu , Joon Ho Hwang , Chinmay Jain , and Jim Washam , Bitcoin price manipulation: evidence from intraday orders and trades, Applied Economics Letters , 2020.12
- Soon Sung Kim, Jaiho, Chung ,Joon Ho Hwang, Ju Hyun Pyun, The effectiveness of foreign debt in hedging exchange rate exposure: Multinational enterprises vs. exporting firms, Pacific-Basin Finance Journal, 2020.12
- Ephraim Kwashie Thompson, Changki Kim, Post-MA Performance and Failure: Implications of Time until Deal Completion, Sustainability, 2020.04
- Kim Jerim , Eyunghee Kim , Changki Kim, Pricing step-up options using laplace transform, Journal of Applied Mathematics and Informatics, 2020.09
- Ephraim Kwashie Thompson, Changki Kim, The Effect of Information Asymmetry on the Method of Payment and Post-M&A Involuntary Delisting, Asia-Pacific Journal of Business , 2020.09
- Ephraim Kwashie Thompson, Changki Kim, Information Asymmetry, Time until Deal Completion and Post-M&A Performance, Journal of Derivatives and Quantitative Studies, 2020.09
- Hyunoo Shim, Changki Kim, Yang Ho Choi, Volatility clustering in data breach counts, Communications for Statistical Applications and Methods, 2020.07
- Ephraim Kwashie Thompson, Changki Kim, Post-Merger and Acquisition Performance and Risk Factors: An International Study, The Journal of Risk Management, 2020.09
- Seonhyeon Kim, Changki kim , A Study on the Effect of Credit Ratings on M&A Activity, Asian Review of Financial Research, 2020.08
- Changki Kim, KIM SOYEUN , SHIN DONGHOON, Risks and Insurance in Mergers & Acquisitions, Crisisonomy, 2020, 09
- Changki kim , 포스트 코로나 시대 공유경제의 위험관리, 글로벌금융리뷰, 2020.10
- Ji‐Woong Chung, Boochun Jung, Duri Park, Has the value of cash increased over time?, Accounting and Finance, 2020.09
- Jun-Koo Kang, James L. Park, Private Placements of Equity and Firm Value: Value Enhancing or Value Decreasing?, Journal of Financial and Quantitative Analysis, 2020.06
- Bernard Black, Antonio Gledson De Carvalh,o Vikramaditya Khanna, Woochan Kim, Burcin Yurtoglu, Which Aspects of Corporate Governance Do and Do Not Matter in Emerging Markets, Journal of Law, Finance, and Accounting, 2020.04
- Sojung Kim, Sunwoo Hwang, Woochan Kim, Does Diversification of Share Classes Increase Firm Value?, Asian Review of Financial Research2020.11
- Hyungseok Kim, Woochan Kim, Does tunneling explain the sensitivity of executive compensation to other member firms’ performance?, Journal of Business Finance & Accounting, 2020.10
- Engle Robert F, Giglio Stefano, Kelly Bryan, Lee Heebum, Stroebel Johannes, Hedging Climate Change News, Review of Financial Studies, 2020.03
2019
- Dongcheol Kim, Inro Lee and Haejung Na, Financial Distress, Short Sale Constraints, and Mispricing, Pacific-Basin Finance Journal 53, February 2019
- Taejin Kim and Vishal Mangla, Capital Regulation with Two Banking Sectors: Cyclicality and Implementation, Journal of Money, Credit and Banking 51, 485-537, 2019
- Kim, Dongcheol and Inro Lee, "The Financial Distress Puzzle in Bank Returns,", Forthcoming in Accounting & Finance
- Park, Kyung Suh, Heesup Byun, Eunjung Lee, and Woojin Kim, “When and Why Do Takeovers Lead to Fraud?”, Financial Management, Spring 2019
- Park, Kyung Suh, Hee Sub Byun and Jihye Lee, “Product Market Competition and Corporate Takeover: Complement vs. Substitution,”, International Review of Economics and Finance, Vol. 60, 2019
- Lee, Dong Wook with Lingxia Sun, Dollar-weighted return on aggregate corporate sector: How is it distributed across countries?, Pacific-Basin Finance Journal, October 2019
- Lee, Dong Wook, Does the SME exchange properly function as a “growth market”? A Look through its correlation with private-firm growth, Korean Journal of Financial Studies, August 2019
- Woochan Kim, Bernard S Black, Antonio Gledson De Carvalho, Vikramaditya S Khanna and B Burcin Yurtoglu, Which aspects of corporate governance do and do not matter in emerging markets, Northwestern Law & Econ Research Paper, 15th Nov 2019
- Woochan Kim and Juyoung Cheong, Family Pay Premium in Large Business Group Firms, Emerging Markets Finance and Trade, 9th Aug 2019
- Woochan Kim and Sojung Kim, Tunneling Through Group Trademarks, European Corporate Governance Institute-Finance, 27th July 2019
- Woochan Kim, Sojung Kim and Sunwoo Hwang, Does diversification of share classes increase firm, European Corporate Governance Institute (ECGI)-Finance Working Paper, 8th Feb 2019
2018
- Joon Ho Hwang and Byungmo Kim, Directors' and Officers' Liability Insurance and Firm Value, Journal of Risk and Insurance, Vol 85 2018
- Jin-Chuan Duana, Baeho Kim, Woojin Kim and Donghwa Shin, Default probabilities of privately held firms, Journal of Banking and Finance 94, 2018
- Dongcheol Kim and Haejung Na, Investor Sentiment, Anomalies, and Macroeconomic Conditions, Asia-Pacific Journal of Financial Studies 47, 2018
- Kyung Suh Park, 투자자는 이번 여름에 지배주주가할 일을 알고 있다: 계열사간 합병과 주주간 이해상충문제, 한국증권학회지 47권 5호 2018
- Ji Hye Lee, Hee Sub Byun and Kyung Suh Park , Product market competition and corporate social responsibility activities: Perspectives from an emerging economy, Pacific Basin Finance Journal, 2018
- Ji-Woong Chung, Boochun Junguri Park, Has the value of cash increased over time?, Accounting&Finance, 2018
- Jun-Koo Kang, Juan Luo, and Hyun Seung Na, Are Institutional Investors with Multiple Blockholdings Effective Monitors?, 2018, Journal of Financial Economics 128, 576-602.
- Lee Woojoo, Choi Yang Ho, Kim Changki, Ahn Jae Youn, A case study for intercontinental comparison of herd behavior in global stock markets, Communications for Statistical Applications and Methods, 2018, Vol. 25, No. 2, 185–197
- Jun-Koo Kang, Juan Luo, and Hyun Seung Na, Are Institutional Investors with Multiple Blockholdings Effective Monitors?, Journal of Financial Economics, 2018.06
- Rhee KyungJae, Park Kyung Suh, Changes in dividend smoothing after the financial crisis, Economics Letters 2018.11
- yo Rim An, So Yeun Kim, Chang Ki Kim, Connectivity in Global Stock Markets during Financial Crisis , Crisisonomy, 2018.01
- Yunxiao Liu, James L. Park , Bumjean Sohn, Foreign Investment in Emerging Markets: International Diversification or Familiarity Bias?, Emerging Markets Finance and Trade 2018.08
- EunKyung Bae,So-Yeun Kim,Changki Kim, Extreme Value Theory based Earthquake Risk Modeling and Management, 리스크관리연구, 2018.06
- Jaiwoong Chung, Joonghyuk Kim, Underwriter-Investor Relationships and IPO Holding Periods in Korea, Asian Review of Financial Research, 2018.07
- Byeung-Joo Lee, Dongcheol Kim, Kyung Jin Choi, Effects of Limits-to-Arbitrage on Post Earnings Announcement Drift, Korean Journal of Financial Studies, 2018.08
- Kim, Daeseok ;Kim, Changki Kim, So-Yeun, Effect of General Investors' Allotment Ratio on Underpricing in KOSDAQ IPO Market: 20% rule, The Journal of the Korea Contents Association, 2018.03
2017
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재무적 제약이 주가수익률에 미치는 영향
Byeung-Joo Lee and Dongcheol Kim, The Effect of Financial Constraints on Stock Returns in Korea, 2017, 재무연구, vol.30 no.4(2017) pp.395-432 - Anat Hovav, JinYoung Han and Joonghyuk Kim, Market Reaction to Security Breach Announcements: Evidence from South Korea, 2017, The DATA BASE for Advances in Information Systems
- Doosin Ryu and Joon Ho Hwang, Corporate governance, product-market competition, and stock returns: Evidence from the Korean market, Asian Business & Management, April 2017, Volume 16
- Eun Young Lee, Shijin Yoo and Dong Wook Lee, Does the Variance of Customer Satisfaction Matter for Firm Performance?, ASIA MARKETING JOURNAL Vol. 18 No. 04 January 2017
- Hyo Rim An, So Yeun Kim and Chang Ki Kim, Connectivity in Global Stock Markets during Financial Crisis, Crisisonomy, 2017
- Yunxiao Liu, James L. Park & Bumjean Sohn, Foreign Investment in Emerging Markets: International Diversification or Home Bias?, Emerging Markets Finance and Trade, 2017
- Doonwon Ryu, Doojin Ryu and Joon Ho Hwang, Corporate governance, product-market competition, and stock returns: Evidence from the Korean market, Journal Article, Asian Business and Management Vol. 16, 2017
- Joon Ho Hwang, Corporate Social Responsibility: Investment or Expense?, 경영학 연구, 2017
- Daemin Ahn, Woojin Kim, Eun Jung Lee and Kyung Suh Park , Congruence within the Top Management: How “Old Boy Network” Affects Executive Appointment and Performance, Seoul Journal of Business, 2017
- Kyung Suh Park, 기업지배구조 연구의 고찰과 향후 국내 관련 연구의 방향, 경영학연구 제46권 제3호, 2017
- Cheong, Juyoung and Woochan Kim, “Family Pay Premium in Large Business Group Firms” Emerging Markets Finance and Trade, forthcoming
- Black, Bernard, Antonio Gledson De Carvalho, Vikramaditya Khanna, Woochan Kim, and Burcin Yurtoglu (2017), "Corporate Governance Indices and Construct Validity," Corporate Governance: An International Review, Vol.25, pp.397-410.
- Woochan Kim, Taeyoon Sung, and Shang-Jin Wei (2017), “The Diffusion of Corporate Governance to Emerging Markets: Evaluating Two Dimensions of Investor Heterogeneity” Journal of International Money and Finance, Vol.70, pp.406-432