With Min Jung KANG, Hyung Seok KIM, and Sang Okay KOO

With Min Jung KANG, Hyung Seok KIM, and Sang Okay KOO

It is about. The sound pitch of male CEOs is an “honest signal of their hormonal quality.” we use digitally voice that is analyzed of 167 Wall Street male CEO interviews on CNBC during the 2008 financial meltdown and locate a negative relationship amongst the sound pitch associated with CEO additionally the threat of the company. Deep-voiced male CEOs were almost certainly going to be fired following the crisis that is financial until 2012. Start to see the full situation of Barclays right next! Microstructure occasion research reveals that deeply voiced CEOs’ TV interviews increased stock return volatility transitorily during the moment regarding the interviews.

Media protection:

Presented at Nanyang company School in Singapore, Deakin University, Asian FA 2018 at Tokyo, KAIST, Seoul nationwide University, Seoul Quant Conference 2017, the University of Michigan – Flint

(with Jen CHANG and Min Jung KANG)

Most useful Paper Award: Asian-Pacific Conference on International Accounting Problems 2018

Presented at Asian-Pacific Conference on International Accounting problems, san francisco bay area, November 2018; the Joint Accounting Workshop of SKKU & nationwide Taipei University, May 2018 – by Jen CHANG.

It is about. Whenever commercial bankers sit regarding the board as separate directors of borrowing companies, they fire the CEOs more sensitively to firm risk, and afterwards the company danger decreases. It supports “conflict of great interest” theory.

Presented at ILERA worldwide Congress 2018 in Seoul, Korea 2018

It really is about. Making use of the transcripts of 7,000 CEO interviews on CNBC, we investigate whether male and female CEOs vary pertaining to self-attribution bias.

“Predicting North Korean Aggression operating Foreign brief product product Sales and Media Tone”(with Min Jung KANG, Doug KIM, & Hosung JUNG) – Outstanding outside Collaboration Award by Bank of Korea, 2014 (???? ?? ?????? ? ??) Presented at FMA 2017, Boston.

It is about. We use North Korea being an exogenous surprise to your standard of geopolitical danger of South Korea, considering that the former transitioned from a situation without nuke/ICBM to a situation with people on the decade that is last. A permanent -1.59% vehicle in Korean market and -0.88% vehicle in america market are reported whenever NK tests the tools, but just brief run overreaction is discovered for NK armed forces aggressions. We detect irregular brief product sales from the international organizations for the nations having diplomatic relations with https://www.eliteessaywriters.com/plagiarism-checker/ NK (especially the UK) before the surprise assaults and nuke evaluation (although not when it comes to people through the nations without), which implies geopolitical insider trading.

**Media coverage for this paper:

Presented at Seoul nationwide University, SKKU, Korea University, Hong Kong City University, Hong Kong Polytech, KAIST, NTU, AECF (Asian Economic online community, Incheon, Korea, 9/20/2014).

It is about. Whether better liquidity regarding the stock exchange drives the ongoing business to be much more or less myopic actually hinges on what type of institutional investors have actually big ownership regarding the company. We make use of the decimalization regarding the currency markets in 2001 as a shock that is exogenous market liquidity and discover that the organizations with increased ownership by transient institutional investors became more myopic when it comes to CEO dismissal.

It is about. After receiving tremendous public critique due to some extent to the provocative news depiction of its CEO, in articles en titled “Goldman’s employer: We do God’s work,” Goldman Sachs jumped up to rank number 2 when it comes to philanthropic efforts (PC, hereafter) this season. Making use of textual analysis of just one million news articles in regards to the biggest 100 organizations in america over 2000

2010, we discover that companies strengthen their CSR performance and save money on Computer once the opinion that is public their CSR is negative with intensive news protection.

Presented at Korea University, nationwide University of Singapore, SKKU, Yonsei University, and CAFM 2013.

**Media protection about any of it paper: FORTUNE Korea (2015) august

“CEO Interviews on CNBC” (with Felix Meschke)

It really is about. Individual investors have stoked up about the business and get the stock if the business gets news attention. CEO meeting produces excitement that is genuine attention with minimum brand brand new information because of the concern of reasonable disclosure. Effective market theory would anticipate no cost reaction to such pseudo occasion, but we nevertheless find significant reversal and jump. The magnitude of reaction is really a function associated with the viewership. Institutional investors short offer more about the full times of news interviews.

Presented during the AFA (by coauthor), CICF, Singapore Finance Conference, SKKU GSB

**Media protection concerning this paper

It is about. Whenever commercial bankers sit regarding the board as separate directors of borrowing companies, they decrease stock cost crash danger, particularly when the borrowing company’s credit danger is high. It supports “financial expertise” theory.

Presented during the AFA2017 Chicago Meeting, 2017 SFM Taiwan Conference, the University of Edinburgh, Cambridge University, the Asian FMA 2015, Seoul, Korean Finance Association fulfilling 2015, KAIST, Seoul National University, and UNIST,

Winner regarding the most readily useful paper honor (second greatest) at SFM Taiwan Conference 2017, Korean Finance Association fulfilling 2015

It really is about. : simply how much does the masculinity regarding the CEO impact the threat of the company? Using facial width-to-height ratio (fWHR), a great proxy for masculinity that is considered to be related to aggressive danger looking for behavior, we discover that masculine experienced CEOs (1) enhance company riskstock return volatility & idiosyncratic vol; (2) maintain high leverage ratio; (3) are far more acquisitive more # of discounts, $$$ on discounts, purchase premium and reduced acquisition statement return; and (4) receive high VEGA payment. We find robust results utilizing AI measured fWHR. FinTech implication: banking institutions could enhance measuring the danger preference of retail clients by making use of scanned picture IDs.

Python coding of (measuring fWHR) available upon request – Please cite us.

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