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

PUBLICATIONS

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 

WORKING PAPERS 

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)