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

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

It really is about. The sound pitch of male CEOs can be an “honest signal of their quality this is certainly hormonal. we use digitally voice that is analyzed of 167 Wall Street male CEO interviews on CNBC through the 2008 economic crisis and discover a negative relationship involving the vocals pitch of this CEO and also the danger of the company. Deep-voiced male CEOs were prone to be fired following the crisis that is financial until 2012. Look at situation of Barclays right next! Microstructure occasion research reveals that deeply voiced CEOs’ TV interviews increased stock return volatility transitorily in the moment for the interviews.

Media protection:

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

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

It is about. Whenever bankers that are commercial in the board as separate directors of borrowing organizations, they fire the CEOs more sensitively to firm risk, and later the company danger decreases. It supports “conflict of great interest” hypothesis.

Presented at ILERA worldwide Congress 2018 in Seoul, Korea 2018

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

“Predicting North Aggression that is korean Using Short 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 really is about. We utilize North Korea being an exogenous surprise towards the degree of geopolitical chance of Southern Korea, as the previous transitioned from a state without nuke/ICBM to a situation with people throughout the final ten years. 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 army aggressions. We detect irregular brief product product product sales from the international institutions of this nations having diplomatic relations with NK (especially the UK) before the shock assaults and nuke evaluating ( not when it comes to people through the nations 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).

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It is about. Whether better liquidity associated with the stock exchange drives the business to become more or less myopic actually varies according to what type of institutional investors have big ownership associated with the firm. We make use of the decimalization of this stock exchange in 2001 being an exogenous surprise to market liquidity and discover that the businesses with more ownership by transient institutional investors became more myopic when it comes to CEO dismissal.

It really is about. After receiving tremendous public critique due in component into the provocative news depiction of its CEO, in a write-up en en en titled “Goldman’s employer: We do God’s work,” Goldman Sachs jumped up to rank # 2 when it comes to philanthropic efforts (PC, hereafter) this season. Utilizing textual analysis of just one million news articles concerning the biggest 100 businesses in the usa over 2000

2010, we realize that organizations strengthen their CSR performance and save money on Computer once the general public viewpoint about their CSR is negative with intensive news protection.

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

**Media protection about that paper: FORTUNE Korea (2015) august

“CEO Interviews on CNBC” (with Felix Meschke)

It really is about. Individual investors have stoked up about the ongoing business and get the stock if the business gets news attention. CEO interview creates excitement that is genuine attention with minimum brand brand brand new information as a result of the 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 reaction is just a function for the viewership. Institutional investors short sell more on the full times of news interviews.

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

**Media protection about that paper

It is about. When bankers that are commercial in the board as separate directors of borrowing organizations, they decrease stock cost crash danger, particularly when the borrowing company’s credit danger is high. It supports “financial expertise” theory.

Presented at the AFA2017 Chicago Meeting, 2017 SFM Taiwan Conference, the University of Edinburgh, Cambridge University, the FMA that is asian 2015 Seoul, Korean Finance Association fulfilling 2015, KAIST, Seoul nationwide University, and UNIST,

Winner associated with Best paper honor (second greatest) at SFM Taiwan Conference 2017, Korean Finance Association fulfilling 2015

It is about. : simply how much does the masculinity associated with the CEO impact the chance of the company? Using facial width-to-height ratio (fWHR), a good proxy for masculinity this is certainly regarded as connected with aggressive risk searching for behavior, we realize that masculine experienced CEOs (1) increase firm riskstock return volatility & idiosyncratic vol; (2) keep high leverage ratio; (3) are far more acquisitive more # of deals, $$$ on deals, purchase premium and reduced purchase statement return; and (4) receive high VEGA payment. We find robust outcomes AI that is using measured. FinTech implication: banking institutions could enhance measuring the danger preference of retail customers by utilizing scanned picture IDs.

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