Lee, Dong Wook 이동욱


Ph.D.,The Ohio State University (2003)
M.B.A., Seoul National University (1996)
B.B.A., Seoul National University (1994)


Professor of Finance, Korea University Business School, Sep. 2014 ~ present


Commissioner, Securities and Futures Commission (Korean government), Sep. 2022 ~ present


Vice President, Korean Finance Association, Jan. 2023 ~ present


Associate Editor, Asian Review of Financial Research, Jan. 2020 ~ present


Editor in Chief, Korean Journal of Financial Studies, Mar. 2021 ~ May 2022


Associate Professor of Finance, Korea University Business School, Sep. 2009 ~ Aug. 2014


Visiting Scholar, University of Michigan (Ross), Dec. 2019 ~ Jul. 2021 & The Ohio State University (Fisher), Jul. 2012 ~ Aug. 2013


Assistant Professor of Finance, Korea University Business School, Sep. 2006 ~ Aug. 2009


Assistant Professor of Finance, University of Kentucky, Aug. 2003 ~ Jun. 2006

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Can swap basis predict foreign exchange rate? Evidence from Korea (with Eun-young Shin) 

    Asian Review of Financial Research, May 2022


The role of second-tier exchange in corporate valuation: Evidence from Korea (with Hee Jung Choi) 

    Asia-Pacific Journal of Financial Studies, December 2021


Why does equity capital flow out of high Tobin’s q industries? (with Han Shin and René Stulz) 

    Review of Financial Studies, April 2021


Dollar-weighted return on aggregate corporate sector: How is it distributed across countries? (with Lingxia Sun)
    Pacific-Basin Finance Journal, October 2019 


Does the SME exchange properly function as a “growth market”? A Look through its correlation with private-firm growth
    Korean Journal of Financial Studies, August 2019 


Factor exposures of foreign equity capital in a domestic stock market: Evidence from Korea (with Lingxia Sun)
    International Review of Finance, December 2017 


Stock return commonality within business group: Fundamentals or sentiment? (with Min-su Kim and Woojin Kim)
    Pacific-Basin Finance Journal, November 2015 


The role of trading volume in the “volatility puzzle” 
    Asian-Pacific Journal of Financial Studies, October 2015 


Takeover vulnerability and the behavior of short-term stock returns (with Joon Chae and Shu Feng Wang)
    Journal of Corporate Finance, September 2013


Short selling by individual investors: Destabilizing or price discovering? (with Chan Shik Jung and Woojin Kim)
    Pacific-Basin Finance Journal, January 2013


The role of the temporary component in spot prices in the revision of expected future spot prices: Evidence from index futures quotes (with Hyung Cheol Kang, Eun Jung Lee, and Kyung Suh Park)
    Journal of Futures Markets, March 2012


Does more information in stock price lead to higher or lower firm-specific return variation? (with Mark Liu)
    Journal of Banking and Finance, June 2011


Does the difference in valuation between domestic and foreign investors help explain their distinct holdings of domestic stocks? (with Hyung Cheol Kang and Kyung Suh Park) 
    Journal of Banking and Finance, December 2010


Does institutional activism increase shareholder wealth?: Evidence from spillovers on non-target companies (with Kyung Suh Park)
    Journal of Corporate Finance, September 2009


REIT capital budgeting and equity marginal q (with Brent Ambrose)
    Real Estate Economics, September 2009


Can investor heterogeneity be used to explain the cross-section of average stock returns in emerging markets? (with Chan Shik Jung and Kyung Suh Park)
    Journal of International Money and Finance, June 2009


How do employees view their underwater stock options?: Evidence from the stock option exchange program
    Journal of Financial Services Research, June 2009


Do corporate managers manipulate the stock price to have a lower exercise price for their stock options?: Some evidence from the U.S. stock market 
    재무연구, November 2007


Comovement after joining an index: Spillovers of nonfundamental effect (with Brent Ambrose and Joe Peek)
    Real Estate Economics, April 2007


U.S. banks, crises, and bailouts: From Mexico to LTCM (with Bong-Chan Kho and René Stulz)
American Economic Review Papers and Proceedings, May 2000 




Small and large firms across legal origin (with Lingxia Sun)


What Explains Cross-Country Difference in Corporate Valuations? Growth Opportunities or Profitability? (with Lingxia Sun)




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