It is about. The vocals pitch of male CEOs is an “honest signal of their hormone quality.” we use digitally analyzed voice pitch of 167 Wall Street male CEO interviews on CNBC throughout the 2008 economic crisis and discover a negative relationship amongst the sound pitch for the CEO plus the threat of the company. Deep-voiced male CEOs were very likely to be fired following the crisis that is financial until 2012. Look at full situation of Barclays right next! Microstructure occasion research reveals that deeply voiced CEOs’ TV interviews increased stock return volatility transitorily during the full moment for the interviews.
Media protection:
Presented at Nanyang Business 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 Issues 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 really is about. Whenever bankers that are commercial 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 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 2017, Boston.
It is about. We utilize North Korea being an exogenous surprise into the degree of geopolitical danger of Southern Korea, considering that the previous transitioned from a situation without nuke/ICBM to a state with people within the decade that is last. A permanent -1.59% vehicle in Korean market and -0.88% vehicle in america market are reported whenever NK tests the weapons, but just brief run overreaction is discovered for NK military aggressions. We detect irregular quick product sales from the international organizations associated with countries having diplomatic relations with NK (especially the UK) before the shock assaults and nuke evaluation (although not when it comes to people through the countries without), which implies insider trading that is geopolitical.
**Media protection with this paper:
Presented at Seoul National University, SKKU, Korea University, Hong Kong City University, Hong Kong Polytech, KAIST, NTU, AECF (Asian Economic online community, Incheon, Korea, 9/20/2014).
It really is go to site about. Whether better liquidity regarding the currency markets drives the business to become more or less myopic actually varies according to what sort of institutional investors have actually big ownership associated with the company. We utilize the decimalization associated with the currency markets in 2001 being a shock that is exogenous market liquidity and discover that the companies with an increase of ownership by transient institutional investors became more myopic with regards to CEO dismissal.
It is about. After receiving public that is tremendous due to some extent into the provocative news depiction of their CEO, in articles 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 year. Making use of textual analysis of 1 million news articles concerning the biggest 100 businesses in the usa over 2000
2010, we discover that businesses strengthen their CSR performance and save money on Computer as soon as the opinion that is public 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 any of it paper: FORTUNE Korea (2015) august
“CEO Interviews on CNBC” (with Felix Meschke)
It is about. Individual investors have worked up about the ongoing business and get the stock if the business gets news attention. CEO meeting yields excitement that is genuine attention with minimum brand new information because of the concern of reasonable disclosure. Effective market theory would anticipate no cost a reaction to such pseudo occasion, but we nevertheless find significant reversal and jump. The magnitude of response is really a function of this 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 that paper
It really is about. Whenever commercial bankers sit from the board as independent directors of borrowing companies, they decrease stock cost crash danger, specially when the borrowing company’s credit danger 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 for the most readily useful paper award (second greatest) at SFM Taiwan Conference 2017, Korean Finance Association fulfilling 2015
It is about. : simply how much does the masculinity for the CEO influence the chance of the company? Using facial width-to-height ratio (fWHR), a good proxy for masculinity that is 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 deals, $$$ 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 chance preference of retail clients by utilizing scanned photo IDs.
Python coding of (measuring fWHR) available upon demand – Please cite us.