세미나


2017년 7월 18일
KakaoTalk_20170707_134128550

[Research Seminar 2017.07.04] Do Investors Use Options and Futures to Trade on Different Types of Information? Evidence from an Aggregate Stock Index

Speaker’s Name: Kyounghun Bae (Assistant Prof./Hanyang University) Abstract Option prices are sensitive to changes in volatility whereas futures prices are not. We investigate this distinction empirically and test the hypothesis that investors with information about future returns (volatilities) will prefer to trade in futures (options) because futures (options) protect the investor […]
2017년 7월 18일
KakaoTalk_20170629_165645362

[Research Seminar 2017.06.28] Consumer Search and Choice under Limited Product Information

Speaker’s Name: Jun B. Kim  (Associate Prof./Hong Kong University of Science and Technology)   Abstract Empirical models of consumer search typically assume that consumers are fully informed about key product attribute values prior to search and their search objective is resolve the remaining idiosyncratic match values of the products. However, […]
2017년 7월 18일
강의사진

[Research Seminar 2017.06.19] “A Bold Move or Biting Off More than They Can Chew: Examining the Performance of Small Acquirers

Speaker’s Name: Kevin H. Kim (Assistant Prof./The University of Memphis)     Abstract We investigate and explain an apparent contradiction in the prior literature on the performance of small acquirers. Small acquirers enjoy announcement period returns that are significantly higher than returns for larger acquirers, but small acquirers also significantly underperform […]
2017년 7월 18일
KakaoTalk_20170621_102202481

[Research Seminar 2017.06.15] Informed Equity Ownership and Bank Loan Contracting

Speaker’s Name: Yi, Ha-Chin(Associate Prof./ Texas State University)     Abstract We take local institutional equity ownership as a proxy for informed and likely exogenous ownership and study the effect of informed equity ownership on creditors.For bank loan contracting, we show that local long-term institutional ownership (LLTIO) is associated with […]
2017년 7월 18일
KakaoTalk_20170512_112916903

[Research Seminar 2017.04.21] Wage Differentials, Firm Investment, and Stock Returns

Speaker’s Name: Yongjun Kim (Ph.D., University of Illinois at Urbana-Champaign) Abstract This study investigates the effects of labor costs on firms’ capital investments and stock returns. I estimate wage premia across U.S. industries and show that the negative investment-return relation implied by q-theory is steeper for high wage firms than […]
2017년 7월 17일
KakaoTalk_20170313_110957106

[Research Seminar 2017.03.10] Indirect benefits of financial globalization: Evidence from small firms’ growth opportunities

Speaker’s Name: Dong Wook Lee (Professor, Korea University)   Abstract : This paper measures the indirect impacts of financial globalization using the extent to which corporate growth opportunities—especially those of small-size companies—are countryspecific. Using data for 53,365 firms from 40 countries over the period of 1991-2012, we find that the country-specific […]
2017년 7월 17일
KakaoTalk_20170123_144905550

[Research Seminar 2017.01.23] A Bivariate Shot Noise Self-Exciting Process for Insurance

Speaker’s Name: Jang, Ji wook Senior Lecturer/Macquarie University, Australia   Abstract :   In this paper, we study a bivariate shot noise self-exciting process. This process includes both externally excited joint jumps following a homogeneous Poisson process and two separate self-excited jumps, which are two Poisson cluster processes. A constant rate […]
2016년 9월 2일

(2015.6.17/Research Seminar)Reaching for Yield of Playing It Safe? Risk Taking by Bond Mutual Funds

Speaker : Prof. Jaewon Choi (Assistant Professor of Finance, University of Illinois at Urbana-Champaign )   In a low-interest-rate environment, bond mutual funds may have a strong incentive to hold bonds with higher yields compared with their benchmarks (“reaching for yield”) in order to attract more inflows. This paper investigates […]
2016년 9월 2일

(2015.6.12/Research Seminar)The Sensitivity of Corporate Investment to the Implied Cost of Capital

Speaker : Prof. Soku Byoun (Associate Professor of Finance, Hankamer School of Business Baylor University)     Ceteris paribus, firms should increase investment when the cost of capital is lower. Most textbooks suggest that the cost of equity is measured by the CAPM and the Fama and French(1992, 1993) model […]
2016년 9월 2일

(2015.5.29/Research Seminar)Strategic Differentiation Revisited: The Performance Effects of Vertical and Horizontal Differentiation

Speaker : Prof. Kyung Min Park (Professor of Strategy, School of Business, Yonsei University)     Differentiation strategy has been widely studied since Porter introduced the concept of a generic business strategy. However, studies have not been successful in generating a consensus on the performance results of adopting a differentiation […]