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 quality that is hormonal. we use digitally analyzed voice pitch of 167 Wall Street male CEO interviews on CNBC throughout the 2008 economic crisis and discover a negative association between your sound pitch associated with CEO in addition to danger of the company. Deep-voiced male CEOs were almost certainly going to be fired following the crisis that is financial until 2012. Begin to see the situation of Barclays right next! Microstructure occasion research reveals that deeply voiced CEOs’ TV interviews increased stock return volatility transitorily in the full moment associated with interviews.
Presented at Nanyang company class 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 readily useful Paper Award: Asian-Pacific Conference on International Accounting Problems 2018
Presented at Asian-Pacific Conference on International Accounting Issues, san francisco bay area, 2018; the Joint Accounting Workshop of SKKU & National Taipei University, May 2018 – by Jen CHANG november.
It is about. When commercial bankers sit in the board as separate directors of borrowing companies, they fire the CEOs more sensitively to firm risk, and later the company danger decreases. It supports conflict that is” of” theory.
Presented at ILERA worldwide Congress 2018 in Seoul, Korea 2018
It really is about. Utilizing the transcripts of 7,000 CEO interviews on CNBC, we investigate whether male and CEOs that are female with regard to self-attribution bias.
“Predicting North Aggression that is korean Using 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 utilize North Korea being an exogenous shock into the amount of geopolitical danger of Southern Korea, as the former transitioned from a situation without nuke/ICBM to a situation with people throughout the decade that is last. A permanent -1.59% automobile in Korean market and -0.88% vehicle in the usa market are reported whenever NK tests the tools, but just brief run overreaction is discovered for NK army aggressions. We detect unusual quick product product sales from the international organizations associated with nations having diplomatic relations with NK (especially the UK) before the shock assaults and nuke assessment (although not for the people through the countries without), which implies geopolitical insider trading.
**Media protection of the 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’s about. Whether better liquidity for the currency markets drives the ongoing business to be much more or less myopic actually hinges on what sort of institutional investors have big ownership associated with the firm. We utilize the decimalization associated with the currency markets in 2001 as a shock that is exogenous market liquidity in order to find that the businesses with increased ownership by transient institutional investors became more myopic when it comes to CEO dismissal.
It really is about. After receiving public that is tremendous due to some extent to your provocative news portrayal of their CEO, in a write-up en en titled “Goldman’s employer: We do God’s work,” Goldman Sachs jumped up to rank no. 2 with regards to philanthropic efforts (PC, hereafter) this year. Utilizing textual analysis of just one million news articles in regards to the biggest 100 organizations in the US over 2000
2010, we discover that companies strengthen their CSR performance and spend more on PC if the opinion that is public their CSR is negative with intensive news protection.
Presented at Korea University, National University of Singapore, SKKU, Yonsei University plagiarism check, and CAFM 2013.
**Media protection concerning this paper: FORTUNE Korea (2015) august
“CEO Interviews on CNBC” (with Felix Meschke)
It really is about. Individual investors have worked up about the ongoing business and get the stock as soon as the business gets news attention. CEO meeting yields genuine excitement and attention with minimum new information as a result of concern of reasonable disclosure. Effective market theory would anticipate no cost reaction to such pseudo occasion, but we nevertheless find significant jump and reversal. The magnitude of response 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 about any of it paper
It is about. When commercial bankers sit in the board as separate directors of borrowing companies, they decrease stock cost crash risk, specially when the borrowing company’s credit risk 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 nationwide University, and UNIST,
Winner regarding the most readily useful paper prize (second greatest) at SFM Taiwan Conference 2017, Korean Finance Association fulfilling 2015
It is about. : simply how much does the masculinity for the CEO impact the threat of the company? Using facial width-to-height ratio (fWHR), an excellent proxy for masculinity this is certainly regarded as connected with aggressive risk looking for behavior, we realize that masculine experienced CEOs (1) enhance company riskstock return volatility & idiosyncratic vol; (2) keep high leverage ratio; (3) are far more acquisitive more # of discounts, $$$ on discounts, acquisition premium and reduced purchase statement return; and (4) receive high compensation that is VEGA. We find robust outcomes utilizing AI measured fWHR. FinTech implication: banking institutions could enhance measuring the chance preference of retail clients making use of photo that is scanned.
Python coding of (measuring fWHR) available upon demand – Please cite us.