It is about. The vocals pitch of male CEOs can be an “honest signal of their hormone quality.” we use digitally voice that is analyzed of 167 Wall Street male CEO interviews on CNBC throughout the 2008 financial meltdown and locate a negative relationship amongst the voice pitch associated with the CEO therefore the threat of the company. Deep-voiced male CEOs were almost certainly going to be fired following the financial meltdown up until 2012. Begin to see the full instance of Barclays right next! Microstructure occasion research reveals that deeply voiced CEOs’ TV interviews increased stock return volatility transitorily during 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 useful Paper Award: Asian-Pacific Conference on Global Accounting Problems 2018
Presented at Asian-Pacific Conference on International Accounting problems, san francisco bay area, November 2018; the Joint Accounting Workshop of SKKU & National Taipei University, May 2018 – by Jen CHANG.
It is about. Whenever commercial bankers sit from the board as separate directors of borrowing organizations, they fire the CEOs more sensitively to firm risk, and afterwards the firm danger decreases. It supports “conflict of great interest” theory.
Presented at ILERA worldwide Congress 2018 in Seoul, Korea 2018
It is about. With the transcripts of 7,000 CEO interviews on CNBC, we investigate whether male and CEOs that are female pertaining to self-attribution bias.
“Predicting North Korean Aggression operating Foreign brief 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 as an exogenous surprise towards the amount of geopolitical threat of Southern Korea, as the previous transitioned from a situation without nuke/ICBM to a situation with people within the final ten years. A permanent -1.59% vehicle 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 military aggressions. We detect irregular 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 evaluating (although not for the people through the nations without), which implies insider trading that is geopolitical.
**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 is about. Whether better liquidity for the currency markets drives the business to be more or less myopic actually varies according to what sort of institutional investors have actually big ownership regarding the company. We utilize the decimalization regarding the currency markets in 2001 as an exogenous surprise to market liquidity in order to find that the companies with increased ownership by transient institutional investors became more myopic when it comes to CEO dismissal.
It is about. After receiving public that is tremendous due in component into the provocative news depiction of its CEO, in a write-up titled “Goldman’s employer: We do God’s work,” Goldman Sachs jumped up to rank no. 2 when it comes to philanthropic efforts (PC, hereafter) this season. Using textual analysis of 1 million news articles concerning the biggest 100 organizations in america over 2000
2010, we discover that organizations strengthen their CSR performance and save money on PC once the public viewpoint about their CSR is negative with intensive news coverage.
Presented at Korea University, nationwide University of Singapore, SKKU, Yonsei University, and CAFM 2013.
**Media protection relating to this paper: FORTUNE Korea (August 2015)
“CEO Interviews on CNBC” (with Felix Meschke)
It really is about. Individual investors have worked up about the business and get the stock once the business gets media attention. CEO interview yields excitement that is genuine attention with minimum new information as a result of the concern of reasonable disclosure. Effective market theory would anticipate no cost a reaction to such pseudo event, but we nevertheless find significant reversal and jump. The magnitude https://essayshark.ws of reaction is just a function of this viewership. Institutional investors short offer more on the times of news interviews.
Presented during the AFA (by coauthor), CICF, Singapore Finance Conference, SKKU GSB
**Media protection about any of it paper
It’s about. When bankers that are commercial regarding the board as independent 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 in 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 associated with most useful paper honor (second highest) 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 threat of the company? Using facial width-to-height ratio (fWHR), an excellent proxy for masculinity that is regarded as connected with aggressive danger looking for behavior, we discover 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, purchase premium and reduced purchase statement return; and (4) receive high VEGA settlement. We find robust outcomes AI that is using measured. FinTech implication: banking institutions could enhance measuring the danger preference of retail clients simply by using scanned picture IDs.
Python coding of (measuring fWHR) available upon demand – Please cite us.