Research
¡°Live as if you were to die tomorrow. Learn as if you were to
live forever.¡±
(Mahatma Gandhi,
1869–1948)
Ph.D.
Thesis
♦
Title: Contagion
of a Crisis, Corporate Governance, and Credit Rating
♦ Advisors: Armando R. Gomes (Co-Chair), David K. Levine (Co-Chair), Todd T. Milbourn, Anjan V. Thakor [MY
SUPER HEROES!!!]
Research
Papers
1. "Contagion
of a Liquidity Crisis Between Two Firms,"
Journal of Financial Economics, 107(2), 386-400, 2013.
2. "Recent
Theories Regarding Financial Contagion,"
(with Hyunjoon Lim), Economic
Analysis, 19(3), 111-140, 2013. (In
Korean.)
3. "Assessing
Competitive Conditions in Korea's Credit Rating Industry after the 1997
Financial Crisis," Economics Bulletin, 34(2), 1114-1121, 2014.
4. "Understanding Currency
Crises and Their Contagion," (with Hyunjoon
Lim), Journal of Economic Theory and
Econometrics, 25(3), 30-62, 2014. (In
Korean.)
5. "Do
Credit Rating Concerns Lead to Better Corporate Governance? Evidence from Korea," (with Frederick
L. Bereskin and Bushik Kim), Pacific-Basin
Finance Journal, 35(PB), 592-608, 2015.
6. "Unique
Equilibrium in a Model of Takeovers Involving Block Trades and Tender Offers," (with Sangkyu Baek), Finance
Research Letters, 15(C), 208-214, 2015.
7. "Corporate
Governance Structure and Product Market Competition," (with Kyung
Suh Park), Applied Economics, 48(14), 1281-1292, 2016.
8. "The
Effectiveness of Liquidity Provision during Debt Crises: Evidence from Korean
Firm-Level Data," (with Hyunjoon Lim),
Financial Stability
Studies, 17(1), 1-37, 2016. (In
Korean.)
9. "Did
Foreign Ownership of Korean Credit Rating Agencies Improve Their Ratings?" (with Denis
Yongmin Joe), Contemporary Economic Policy, 35(1), 193-200, 2017.
10.
"Credit
Ratings and Corporate Disclosure Behaviour: Evidence from Regulation Fair
Disclosure in Korea," (with Junghum Park), Applied Economics, 49(35), 3481-3494, 2017.
11.
"Foreign
Investor Behavior in Korea after the 1997 Asian Financial Crisis," (with Denis
Yongmin Joe), Journal
of the Japanese and International Economies, 46(C), 69-78, 2017.
12. "Credit
Ratings and Corporate Cash Holdings: Evidence from Korea's Corporate Reform
after the 1997 Asian Financial Crisis,"
(with Denis
Yongmin Joe), Japan and
the World Economy, 45(C), 9-18, 2018.
13. "Spillover
Effects Within Business Groups: The Case of Korean Chaebols," (with Denis
Yongmin Joe), Management Science, 64(3), 1396-1412, 2018.
14. "Control-Ownership
Disparity and Stock Market Predictability: Evidence from Korean Chaebols," (with Denis
Yongmin Joe and Cheolbeom Park), Finance
Research Letters, 27(C), 6-11, 2018.
15.
"Owner-Managers
and Firm Performance during the Asian and Global Financial Crises: Evidence
from Korea," (with Denis
Yongmin Joe and Dukhee Jung), Applied Economics, 51(6), 611-623, 2019.
16. "The
Role of Chonsei as a Price Protector in the Korean Housing Market," (with Heejin
Yoon), International Economic
Journal, 33(1), 27-41, 2019.
17.
"Foreign
Ownership and Firm Innovation: Evidence from Korea," (with Denis
Yongmin Joe and Heechan Yoo), Global Economic Review, 48(3), 284-302, 2019.
18. "Potential
Competition and Quality Disclosure,"
(with Junghum Park), Journal of Economics & Management Strategy, 28(4), 614-630, 2019.
19. "The
Efficiency of Financial Holding Companies in Korea," (with Garam Ahn and Junghum Park), Korean Economic Review, 36(1), 29-58, 2020.
20. "Corporate
Innovation and Credit Default Swap Spreads,"
(with Hwang
Hee Lee), Finance
Research Letters, 32(C), 101082, 2020.
21. "Religion
and Corporate Disclosure Quality,"
(with Donglim Shin), Hitotsubashi
Journal of Economics, 61(1), 20-37, 2020.
22. "Does
Product Market Competition Affect Corporate Governance? Evidence from Corporate
Takeovers," (with Sean
Seunghun Shin), Journal
of Empirical Finance, 59(C), 68-87, 2020.
23. "The
Role of Large Players in Global Games with Strategic Complements and
Substitutes," (with Kyounghun
Lee), Economics Letters, 198(C), 109688, 2021.
24. "Public
Information and Global Games with Strategic Complements and Substitutes," (with Kyounghun Lee), Economics Letters, 199(C), 109703, 2021.
25. "Do
Korean Chaebols Practice Noblesse Oblige? Evidence from Their CSR Activities," (with Denis
Yongmin Joe and Jiyoung Lee), Economics and
Business Letters, 10(1), 45-57, 2021.
26. "Credit
Ratings and Liquidity Crises,"
(with Kyounghun Lee), International Journal
of Economic Theory, forthcoming, 2019.
27. "The Impact of
Mandatory K-IFRS Adoption on IPO Underpricing," (with Hyun Duk Lee and Junghum Park), International Journal
of Finance & Economics,
forthcoming, 2020.
28. "Social Capital and Firm Innovation:
Evidence from Cooperative Banking in Korea,"
(with Heejin
Yoon), Asia-Pacific Journal of
Financial Studies, forthcoming, 2020.
29. "Internal
Capital Markets and R&D Investment: Evidence from Korean Chaebols,"
(with Seiwoong Hong and Donglim Shin), Working Paper, 2020.
30. "Managerial
Incentives and the Medium of Exchange in Takeovers," (with Junghum Park), Working Paper, 2020.
31. "Internal
Labor Markets and Corporate Innovation: Evidence from Korean Chaebols,"
(with Kyounghun Lee, Donglim Shin, and Heejin
Yoon), Working Paper, 2020.
32. "Does
Venture Capital Investment Enhance Corporate Innovation? Evidence from Korea,"
(with Kyounghun Lee, Donglim Shin, and Heejin
Yoon), Working Paper, 2020.
33. "Religion
and Financial Development and Structure," (with Donglim
Shin), Working Paper, 2020.
34. "Religion
and Corporate Innovation," (with Donglim Shin),
Working Paper, 2020.
35.
"The Role of Credit Default Swaps in Determining Corporate Payout Policy,"
(with Hwang
Hee Lee), Working Paper, 2021.
36. "Do
Foreign Investors Make Firms More Transparent? Evidence from Korea," (with
Junyong Lee), Working Paper, 2021.
37. "Religion
and Corporate Fraud," (with Seiwoong Hong, Kyounghun Lee, and Donglim
Shin), Working Paper, 2021.
38. "Central
Bank Transparency and Contagious Currency Crises," Working Paper, 2021.
39. "A
Large Creditor in Contagious Liquidity Crises," (with Junghum Park), Working Paper, 2021.
40. "Mandatory
Disclosure, Investment, and Private Benefits of Control," (with Kyounghun
Lee), Working Paper, 2021.
41. "Information
Disclosure and Liquidity Crisis," (with Kyounghun Lee), Working Paper, 2021.
42. "Corporate
Disclosure, Government Bailout, and Liquidity Crisis," (with Kyounghun
Lee), Working Paper, 2021.
43. "Innovation
Spillovers Within Business Groups: Evidence from Korean Chaebols," (with
Kyounghun Lee, Donglim Shin, and Heejin
Yoon), Working Paper, 2021.
44. "Religion
and Cross-Border Mergers and Acquisitions," (with Donglim Shin),
Working Paper, 2021.
45. "Credit
Ratings and Corporate Risk-Taking Behavior: Evidence from Korea," (with Seiwoong
Hong and Wonkyun Kim), Working Paper, 2021.
46. "Foreign
Bank Entry and Performance of Domestic SMEs: Evidence from Korea," (with
Junyong Lee), Work in Progress, 2021.