정기세미나

2021 Finance Workshop

일자	발표자	소속	연구과제 발표제목
2021-03-18	Hao Liang	SMU	Outsourcing Climate Change
2021-03-26	이기영	KDI	Bailout Stigma
2021-04-08	최현수	KAIST	Earnings News Diffusion Processes in Stock Markets
2021-04-15	이지윤	연세대	Do firms manage corporate social responsibility strategically?: Evidence from ESG ratings of Korean firms
2021-04-29	문석민	UBC	Corporate Acquisitions and Investment: Evidence from Europe
2021-05-06	최동범	서울대	Are Socially Responsible Firms Really Responsible? Main Street Lending during the Great Recession
2021-05-13	Michael Lee	New York Fed	Monetizing Privacy with Central Bank Digital Currencies
2021-05-20	이정민	WUSTL	Passive Investing and Price Efficiency
2021-05-27	김혜익	OSU	Opening the Black Box in Private Equity: When Interests Conflict Between GPs and LPs
2021-06-03	이희범	고려대	A Climate Change Test Kit
2021-06-10	Zhenyu Gao	CHUK	Global Carbon Divestment and Firms' Actions
2021-09-16	최현수	KAIST	Timing your trades matters: New Evidence from High Frequency Retail Broker Data
2021-09-30	황선우	고려대	Contingent Employment and Innovation
2021-10-07	이해강	U. of South Carolina	The Financial Benefits of Health Engagement Programs to Life Insurers
2021-10-14	김현섭	FRB of Chicago	Shareholder Power and the Decline of Labor
2021-10-28	김다혜	성균관대	Ex Ante Jackpot Probability and Expected Option Returns
2021-11-04	Po-Hsuan Hsu	National Tsing Hua University	Environmental Liabilities and Corporate Pollution: Evidence from the Apex Oil Ruling
2021-11-11	정혜원	U. of Melbourne	Capital Structure under Imperfect Product Market Competition: Theory and Evidence
2021-11-18	Patrick Augustin	McGill University	The term structure of covered interest rate parity violations
2021-11-25	이은경	University of Toronto	Which Firms Require More Governance? Evidence from Mutual Funds' Revealed Preferences
2021-12-09	강준구	Nanyang Technological University	Does Firms’ Equity Financing Benefit Debtholders? Evidence from Private Placements of Equity

2020 Finance Workshop

일자	발표자	소속	연구과제 발표제목
2020-05-14	이창주	KAIST	Good for your Fiscal Health? The Effect of the Affordable Care Act on Healthcare Borrowing Costs
2020-05-21	이종섭	서울대	Filling the Void with Expertise and Incentives: Analyst Ratings of Initial Coin Offerings
2020-06-11	김회광	U of South Carolina	Bank Management Sentiment and Liquidity Hoarding
2020-09-17	김세훈	U of Florida	Sustainability Preferences Under Stress: Evidence from Mutual Fund Flows During COVID-19
2020-10-08	김재영	Tulane	Where Have All the Public Companies Gone?
2020-10-16	한정석	Stockholm School of Economics	Hysteresis in price efficiency and the economics of slow moving capita
2020-10-22	Yoshio Nozawa	HKUST	Fire-Sale Risk in the Leveraged Loan Market
2020-11-05	김수헌	KAIST	Capital Allocation and the Market for Mutual Funds: Inspecting the Mechanism
2020-11-12	송동호	Johns Hopkins	Fearing the Fed: How Wall Street Reads Main Street
2020-11-19	강창모	한양대	Flights to Quality and Momentum Crashes
2020-11-26	서상병	Wisconsin	Is There a Macro-Announcement Premium?
2020-12-03	신동화	UNC	Extrapolation and Complexity
2020-12-10	장예진	UNSW	Exporting Pollution: Where Do Multinational Firms Emit CO2?
2020-12-17	허예솔	FRB	Cheapest-to-Deliver Pricing and Endogenous MBS Heterogeneity

2019 Finance Workshop

일자	발표자	소속	연구과제 발표제목
2019-03-11	최재원	UIUC	Labor Leverage, Financial Leverage, and the Dissection of Expected Returns
2019-03-18	최형규	HK Polytech Univ	Hedge Fund Awards: The Impact on Investors and Managers
2019-03-25	김지희	KAIST	Bargaining Power Changes and CEO Pay Inequality
2019-04-01	김우진	서울대	Discouraging corporate savings
2019-04-08	이종섭	서울대	Credit default swaps around the world: Investment and financing effects
2019-04-15	Katherine Waldock	Georgetown Univ	Four Facts about Corporate Bankruptcy in the U.S.
2019-04-29	최동범	서울대	Does Increased Liability Always Reduce Bank Risk?
2019-05-06	Kewei Hou	OSU	q5
2019-05-13	이기영	KDI	The Effects of Revolving Doors on Financial Regulators' Enforcement Decisions: Evidence from Korea
2019-05-20	강기윤	연세대	Cryptocurrency, Delivery lag, and double spending history
2019-05-27	박웅용	서울대 경제	The role of the government bonds as safe assets
2019-06-03	Einar Kjenstad	Aarhus Univ	China's accession to the WTO and U.S. corporate policy
2019-06-07	Harrison Hong	Columbia Univ	Riding the Credit Boom
2019-06-10	David Schoenherr	Princeton Univ	The Rise of a Network: The Spillover of Political Patronage and Cronyism to the Private Sector
2019-09-09	이재훈	DeepSearch	머신러닝과 빅데이터를 이용한? 금융 정보의 검색 및 분석 자동화
2019-09-16	김세완	이화여대	Herding has its own Threshold: New Evidence from US Equity Fund Market
2019-09-23	이관휘	서울대	U.S. monetary policy transmission and liquidity risk premia around the world
2019-10-01	Frank Warnock	Darden	The Distribution of Global Equity Investment
2019-10-07	김태현	UNIST	Understanding the Credit Multiplier: The Working Capital Channel
2019-10-14	최현수	KAIST	Clogged Intermediation: Were Home Buyers Crowded Out?
2019-10-28	오승준	Pecking	Information Transparency in Drug Development:Evidence from Mandatory Disclosure of Clinical Trials
2019-11-04	김진일	고려대	Designing a Simple Loss Function for Central Banks:Does a Dual Mandate Make Sense?
2019-11-11	오종민	성균관대	Technological Similarity and the Market for Managerial Talent
2019-11-18	김태진	고려대	Leaks, disclosures and internal communication
2019-11-25	김용준	서울시립대	Capitalizing on Sustainability: Value of Going Green
2019-12-02	김현섭	Cornell	Capital Composition and Productivity under Uncertainty:Evidence from the Shipping Industry

2018 Finance Workshop

일자	발표자	소속	연구과제 발표제목
2018-03-05	이기열	KDI	Bailout Stigma
2018-03-12	김우진	서울대	Control beyond Ownership: Subcontractors of Large Business Groups
2018-03-19	최재원	U. of Illinois	Mutual Fund Flows and Fluctuations in Credit and Business Cycles
2018-03-26	오동철	KAIST	The Role of the Central Bank in Contagious Currency Crises
2018-04-02	오지열	한양대	The information value of corporate social responsibility
2018-04-09	김누리	한양대	Blockchain and Corporate Finance
2018-04-16	Kewei Hou	Ohio State U.	The Economics of Value Investing
2018-04-30	이창민	한양대	Who, Republican or Democrat CEOs, laughs last? Political cycles in the market for corporate directors
2018-05-14	Brian Henderson	George Washington U.	Bond Lending and Bond Returns
2018-05-21	배기홍	York U.	Do family firms care for their stakeholders? Evidence from the customer-supplier relationship
2018-05-28	박세열	연세대	Restricting CEO Pay Backfires: Evidence from China
2018-06-04	이준엽	UNIST	The Efficiency of IPO Stocks
2018-06-11	김배호	고려대	Stochastic Intensity Margin Modeling of Credit Default Swap Portfolios
2018-09-10	강기윤	연세대	Optimal contract for asset trades: Collateralizing or selling?
2018-09-17	장지원	아주대	Probability of Price Crashes, Rational Speculative Bubbles,and the Cross-Section of Stock Returns
2018-10-08	이종용	강원대	Time Aggregation and Asset Pricing with Stochastic Differential Utility
2018-10-22	김동규	카이스트	Factor GARCH-Ito Models for High-frequency Data with Application to Large Volatility Matrix Prediction
2018-10-29	조연식	키스채권평가	The Effect of Financial Databases on Financial Markets: Evidence from South Korea
2018-11-05	조규성	한림대	Asset Prices and Investors’ Behavior with Sequential Information Acquisition
2018-11-12	서경원	서울대	An Empirical Model of Analysts’ Earnings Forecasts
2018-11-19	어준경	연세대	Tricks of the Trade? Pre-Issuance Price Maneuvers by Underwriter-Dealers
2018-11-26	정지웅	고려대	Heterogeneity and Persistence in Performance of Mutual Fund Managers
2018-12-03	Jonathan Clarke	Georgia Tech	The Speed of Information and the Sell-Side Research Industry

2017 Finance Workshop

일자	발표자	소속	연구과제 발표제목
2017-03-09	Wolfgang Hardle	Humboldt University in Berlin	Textual Sentiment, Option Information and Stock Return Predictability
2017-03-13	이기영	KDI	Optimal Stress Tests and Diversification
2017-03-20	나현승	고려대	Are Institutional Investors with Multiple Blockholdings Effective Monitors?
2017-03-27	이정환	한양대	Labor Intensive Firms and Debt Maturity Structure
2017-04-03	김남종	금융연구원	Gross Flows of Foreign Direct Investment
2017-04-24	양철원	단국대	Do Tax Havens Threaten Financial Stability? :Evidence from an Emerging Stock Market
2017-05-08	김건호	한양대	Forward Premium Anomaly: New Insight through Time-varying-parameter Approach
2017-05-15	김수헌	Georgia Tech	Global Diversi cation with Local Stocks:A Road Less Traveled
2017-05-22	김정욱	서울대	Order Type Selection of Informed Investors around Earning Announcements
2017-05-29	Brian Henderson	George Washington	Shorting Fees, Private Information, and Equity Mispricing
2017-06-05	Kee H. Chung	SUNY Buffalo	Market Volatility and Stock Returns:The Role of Liquidity Providers
2017-06-12	오지열	한양대	Leading the Way? External Lead Managers and Institutional Equity Fund Performance in Korea
2017-09-25	안병제	Nanyang Technological University	Asset Allocation and Pension Liabilities in the Presence of a Downside Constraint
2017-09-18	김영한	성균관대	The Voice of Risk: Wall Street CEOs Vocal Masculinity and Financial Crisis in 2008
2017-10-23	최병선	서울대(경제학과)	Infinitely Many Solutions to the Black-Scholes Partial Differential Equation for a European Option; Finance Point of View
2017-10-16	송인정	한국외대	Internal Capital Markets and Loss Reserve Error Volatility
2017-11-13	Arman Eshraghi	University of Edinburgh	Transparency and Investment Decisions:Evidence from the Disposition Effect
2017-11-20	오승준	Peking University HSBC Business School	Geographic Concentration of Venture Capital Investors, Corporate Monitoring, and Firm Performance
2017-11-27	어준경	연세대	The Full Story of Runs
2017-12-04	배경훈	한양대	Large Trade Anticipation
2017-12-11	조둠밈	London School of Economics and Political Science	urning Alphas into Betas

2016 Finance Workshop

일자	발표자	소속	연구과제 발표제목
2016-03-07	Hassan Naqvi	성균관대학교	On Reaching for Yield and the Coexistence of Bubbles and Negative Bubble
2016-03-14	이인무	KAIST	Stock Options and Corporate Actions: Convertible Arbitrage, Share Repurchases and Options
2016-03-21	김영한	성균관대학교	The Face of Risk: CEOs’ Masculinity and Firm Risk
2016-03-28	서정원	성균관대학교	Financial Development and Asset Structure: A Cross-Country Studyt
2016-04-04	김우진	서울대학교	Who's Leaving Money on the Table? Evidence from IPOs within Business Groups
2016-04-11	이관휘	서울대학교	Executive Options and Stock Liquidity
2016-04-15	Kewei Hou	The Ohio State University	Systemic Default and Return Predictability in the Stock and Bond Markets
2016-04-18	이재훈	연세대학교	Dynamic Capital Structure Model with Investments
2016-04-25	김다혜	KAIST	Informed trading in the options market and stock return predictability
2016-05-02	최형석	이화여자대학교	Efficiency of Well-Diversified Portfolios: Evidence from Data Envelopment Analysis
2016-05-09	Darwin Choi	HKUST	Evaluating Regulators: The Efficacy of Discretionary Short Sale Rules
2016-05-16	김배호	고려대학교	A Smiling Bear in the Equity Options Market and the Cross-section of Stock Returns
2016-05-30	오지열	한양대학교	In the eye of the beholder: Employee satisfaction and the post-M&A stock performance
2016-06-07	Frank Warnock	Darden Business School, University of Virginia	The Two Components of International Capital Flows
2016-06-13	오동철	KAIST	Credit Ratings and Corporate Cash Holdings: Evidence from Korea’s Corporate Reform after the 1997 Asian Financial Crisis
2016-07-06	George Pennacchi	The College of Business at the University of Illinois Urbana-Champaign	Special Lecture on Banking and Financial Institutions
2016-09-05	고우화	KAIST	The impact of uncertainty shocks on the cross-section of returns
2016-09-19	양동령	서울대학교	Outside Directors' Selective Attendance at Board Meetings : A Korean Evidence
2016-09-26	김창기	고려대학교	The Zero Lower Bound and Economic Determinants of the Volatility Surface in the Interest Cap Markets
2016-10-10	권일웅	서울대학교	Corporate Governance and the Efficiency of Government R&D Grants
2016-10-17	김경국	KAIST	Static Hedging and Pricing with Integral Equations under the JDCEV Model
2016-10-24	이관휘	서울대학교	Inattention and delayed reaction of stock returns to liquidity shock: Global evidence
2016-11-07	Yu Yuan	SAIF, Shanghai Advanced Institute of Finance	Mispricing Factors
2016-11-14	이우종	서울대학교	Preference for Appearance over Substance and Corporate Investment
2016-11-21	양철원	단국대학교	The world price of tail risk
2016-11-28	김형석	KAIST	Burns and Mitchell Meet Pigou: I. Business Cycle Asymmetries and Economic Welfare
2016-12-05	최현수	Singapore Management University	The Effect of Monetary Policy on Bank Wholesale Funding
2016-12-12	강형구	한양대학교	What designs investment bankers? Economic and psychological risk attitudes of investment bankers and socialization

2015 Finance Workshop

일자	발표자	소속	연구과제 발표제목
2015-03-02	박정철	Auburn University	The Role of Corporate Political Strategies in M&As
2015-03-09	김형석	KAIST	Labor Search and Asset Returns
2015-03-16	박연우	중앙대학교	Consumption-based capital asset pricing model with a housing market and a repo rental market
2015-03-23	이교임	서울대학교	Asymmetric Relations in the Amihud Illiquidity Premiums in the Korean Stock Market
2015-03-30	양철원	단국대학교	Profitability of Trades from Tax Havens: Stock Picking Ability or Insider Information?
2015-04-06	박래수	숙명여대	국내은행들의 수익성결정요인분석: 중개기능을 중심으로
2015-04-13	김대진	울산과기대	Liquidity risk and Exchange-traded-fund returns, variances, and tracking errors
2015-04-17	Kewei Hou	Ohio State University	A Comparison of New Factor Models
2015-04-27	최정화	서울대학교	Individuals as Noise Traders : Evidences from Korean Stock Listings
2015-05-04	신재용	서울대학교	The Effects of Politically Connected Outside Directors on Firm Performance: Evidence from Korean Chaebol Firms
2015-05-11	오동철	KAIST	A Large Creditor in Contagious Liquidity Crises
2015-05-18	임현중	Peking University HSBC Business School	Determinants of Investment Spike Financing
2015-09-07	장호규	Georgia Institute of Technology	Value or Growth? Pricing of Idiosyncratic Cash-Flow Risk with Heterogeneous Beliefs
2015-09-14	홍재화	서울대학교	Labor-Market Uncertainty and Portfolio Choice Puzzles
2015-09-21	Bernard Black	Northwestern University	Which Aspects of Corporate Governance Matter in Emerging Markets: Evidence from Brazil, India, Korea, and Turkey
2015-10-05	김류미	서울대학교	Contrarian Profit of Firm-Specific Return
2015-10-19	김영한	성균관대학교	Bankers on the board and CEO Incentives
2015-10-26	김정욱	서울대학교	Return Predictability of Demand and Supply Curves of Common Stocks: Liquidity Shocks or Private Information?
2015-11-02	김진용	KASIT	Reassessment of Diversification Effects in U.S. Bank Holding Companies: A Quantile Regression Approach
2015-11-09	손범진	고려대학교	Do Empirical Pricing Factors Proxy for Innovations to State Variables in the ICAPM? A Direct Time-Series Test
2015-11-16	최승주	서울대학교	Financial Contagion in Networks: An Experiment
2015-11-23	정지웅	고려대학교
2015-11-30	서경원	KAIST	Robust Confidence Regions for Incomplete Models
2015-12-04	예승민	University of Houston	Time-Varying Information Quality and Asset Prices

2014 Finance Workshop

일자	발표자	소속	연구과제 발표제목
2014-03-17	최영수	HUFS	Does Buy-and-Hold Pay Off in Structured Products? An Analysis of Account-Level Transactions
2014-03-24	김배호	KUBS	Systematic Cyclicality of Systemic Bubbles:Evidence from the U.S. Commercial Banking System
2014-03-31	전용호	인천대	Maxing out globally: MAX-premium, uncertainty avoidance, and the cross-section of expected return
2014-04-07	오동철	KAIST	Do Credit Rating Concerns Lead to Better Corporate Governance? Evidence from Korea
2014-04-14	이창준	HUFS	State-Dependent Variations in Expected Illiquidity Premium
2014-04-28	여은정	Chung-Ang Univ	Does Past Success Really Make People Overconfident? Evidence from Learning Behavior of Financial Analysts
2014-05-01	Kewei Hou	Ohio State Univ	Comovement of Corporate Bonds and Equities
2014-05-12	김우찬	KUBS	Revisiting Executive Compensation in Family-Controlled Firms-Family Premium in Large Business Conglomerates
2014-05-19	Martin Dierker	KAIST	Interacting Limit Order Demand and Supply Curves
2014-05-22	Harrison Hong	Princeton Univ	When Everyone Misses on the Same Side: Robust Measures of Earnings Surprises and Stock Returns
2014-05-26	조은영	SNU	Stock selection ability of mutual funds (Bong-Chan Kho and Enu-Young Cho)à취소
2014-06-02	박선영	KAIST	Bank Endogenous Creation of Opacity during the Recent Financial Crisis
2014-06-09	채 준	SNU	Ambiguity and Expected Stock Returns
2014-09-15	백복현 교수	SNU	Local Twitter Activity and Stock Returns
2014-09-22	정혜진 교수	KAIST	Capital structure and corporate reaction to negative stock return shocks
2014-09-29	류근관 교수	서울대학교	지난 30년간 우리나라 주식시장에서 재벌 기업과 비재벌 기업의 성과 비교
2014-10-06	김정심 박사과정	서울대학교	Market Discipline by Wholesale Financiers Revisited
2014-10-10	Yexiao Xu	The University of Texas at Dallas	Beta Reversal and Expected Returns
2014-10-13	조은영 박사과정	SNU	How do political connections increase firm performance?
2014-10-20	Shinichi Kamiya	NTU	Actuarial Independence and Managerial Discretion
2014-10-27	이동원	SNU	Flow Value of Unemployment, Stock Returns, and Unemployment Volatility
2014-11-03	김회광	성균관대	Time is Money: Rational Life Cycle Inertia and the Delegation of Investment Management
2014-11-07	강완모	KAIST	Design of Risk Weights
2014-11-17	김영한	NTU	Investor trading behavior around the time of geopolitical risk events: evidence from South Korea
2014-11-24	강민욱	NTU	Inflation-indexed Bonds and Nominal Bonds: Financial Innovation and Precautionary Motives
2014-12-01	최홍석	공군사관학교	Learning under Ambiguity, Portfolio Choice, and Asset Prices
2014-12-02	강준구	NTU-고대	Family Business and Firm Value: Evidence from Stakeholder Relations with Employees